Dominic's Store offers a wide variety of clothes, furniture, cosmetics, and office supplies at significantly lower prices and provides less service than most department stores. In this scenario, Dominic's Store most likely is a(n) _____.

Determine the fixed cost of a pencil manufacturing company per year if its breakeven point is 300,000 packets of pencils, selling price of each packet of pencil is $3, and the cost of equipment and labor to manufacture one packet of pencil is $1.

$600,000

The fixed cost of Perfect Pizzas, a pizza restaurant, is $400,000 per year. The cost of ingredients and chef to make one pizza is $6. If the customers would pay $10 to buy one pizza, Perfect Pizzas needs to sell at least _____ pizzas to avoid losses.

100,000

Which of the following statements is true of penetration pricing?

A company using penetration pricing makes profit from the volume of s

Hansel owns and runs a fruit juice manufacturing company. He decides that the company will sell packaged fruit juices through wholesalers and retailers. In this scenario, which of the following distribution strategies is Hansel planning to use?

Channel intermediaries

Which of the following are the elements of distribution strategy?

Channels of distribution and physical distribution

Who among the following is likely to enjoy job autonomy?

Esther, who has a free hand and authority in her role as project coordinator

_____ means establishing only one retail outlet in a given area.

Exclusive distribution

_____ remain constant regardless of how many products are sold

Fixed costs

Which of the following statements is true of ownership utility?

It adds value by making it easier for customers to possess the goods that they purchase.

Which of the following statements is true of cost-based pricing?

It determines the price by adding a fixed margin to the per-unit cost of a product.

Which of the following statements is true of equity theory?

It is based on perceptions, which are not always on the mark

Which of the following is most likely to be a first-line management title in a large company?

Section leader

In the context of a SWOT (strengths, weaknesses, opportunities, and threats) analysis, which of the following exemplifies an external threat to a company?

Significant changes in the taxation policies implemented by the government

Which of the following is a difference between strategic planning and tactical planning?

Strategic planning is done by top-level managers, whereas tactical planning is done by middle managers.

Which of the following is true of contingency planning?

The senior manager spearheads this process but with input from the other levels of management.

Paul is an employee at a marketing firm. He is someone who prefers to be instructed by his seniors and avoids taking major responsibilities. He rarely uses his own judgment or creativity while doing a task in fear of putting things at risk. Paul's conduct in the workplace is consistent with the assumptions of _____.

Theory X

The management of a telecommunications company informs the members of its sales team that if they continue to underperform, the management will have no other option but to downsize the team. In this scenario, the approach adopted by the management reflects the assumptions of _____.

Theory X

Proleisis Corporation is a company that has 250 stockholders. Although owned by such a large number of stockholders, the major decisions of the company are taken by the 12-member board of directors. The board has enormous authority over the company, and the company functions according to the decisions of the board. Based on the given information, the company has

a high degree of centralization.

Crystal Corp. is an independent distributor that distributes cosmetics, apparels, shoes, and bags to other business customers on a large scale. It does not take legal title to the goods it distributes. In this scenario, it can be said that Crystal Corp. is a(n) _____.

broker

Brendon Steels, a steel manufacturer, sells its steel rods and steel slabs to Widget Corp. that, in turn, sells them to various construction companies. In this scenario, Widget Corp. is a _____.

channel intermediary

In the context of goal setting in an organization, the most effective strategic goals are:

defined in clear numerical terms.

Kiddiecon is a company that makes stationery products for children. The company relies on door-to-door sales strategy to sell its products. It is evident that Kiddiecon is engaged in _____.

direct selling

iTem is a retailer that sells a wide range of merchandise to the public through its website. It is evident that iTem is engaged in _____.

e-tailing

The top-level managers of a soft drink bottling company initiate the strategic planning process. They complete their first task of the process, which is to define the mission of the organization. In the context of the strategic planning process, their next task would be to:

evaluate the organization's competitive position

Amanda, a primary school teacher, puts in extra effort in her teaching in a particular term. She is aware that if her class performs well, she will be nominated for the award that is received by the teacher whose class scores the highest in the state. This scenario is reflective of the assumptions of the _____ theory.

expectancy

Jack works in a cargo shipping company as a section leader. As a part of his job, he needs to train and evaluate the employees. He also makes sure that the employees constantly remain motivated to carry out their tasks efficiently. Thus, as a section leader, he is heavily involved in the day-to-day production process of the company. In the context of the management hierarchy, Jack is a _____ manager in the company.

first-line

Mars is an independent distributer that distributes goods, such as keyboards, monitors, and computer cabinets to various business users. The company takes legal possession of the goods it distributes. The company warehouses the products, ships them to its customers, provides promotional assistance to the manufacturers, provides product repairs, and credit to customers. It is evident that Mars Inc. is a _____.

full-service merchant wholesaler

CityProtect Corp., a medium-sized financial services company, has a departmentalization structure where the employees are grouped together based on their area of expertise. Thus, the firm has separate teams that handle loans, stock broker services, accounting services, insurance plans, etc. This is an example of _____ departmentalization.

functiona

Joanne works in the marketing department of a toy manufacturing company. Her company offers discounts for soft toys but sells electronic toys at a price higher than that of its competitors. In this scenario, Joanne's company has adopted the _____ strategy.

high/low pricing

Although as a manager Anette may not have the best technical skills, she makes up for it through her excellent communication, team building, and coaching skills. Thus, in the context of management skills, Anette exhibits strong _____.

human skills

Barry is the branch manager of a large toy store. He has been given the responsibility to communicate with, coach, and motivate supervising managers. In this scenario, Barry most likely requires _____ to perform his role efficiently.

human skills

Saffexo is a low-cost toiletries producer in the town of Lucitona. It sells its products through almost all the retail stores in the town of Lucitona. In the context of distribution strategies, Saffexo has adopted the strategy of _____.

intensive distribution

Gregory works for Ocan Foods, a food supplier. His main responsibility is to make tactical decisions involving the actual movement of goods along his company's supply chain. Gregory is involved in _____.

logistics

A__________is an organization with a flexible structure that brings together specialists from different areas of the organization to work on individual projects on a temporary basis.

matrix organization

The fixed cost of Widget Corp., a keyboard manufacturing company, is $600,000 per year. The cost of equipment and labor to make one keyboard is $10. If the customers would pay $25 to buy one keyboard, Widget Corp. needs to sell _____ keyboards to make profits.

more than 40,000

TrinkCan is a soda manufacturing company. People can buy the company's soda from grocery stores, restaurants, vending machines, and online. In this scenario, it is evident that TrinkCan has adopted _____.

multichannel retailing

In the context of management planning,__________refers to very specific, short-term planning that applies tactical plans to daily, weekly, and monthly functions.

operational planning

As one of the senior HR managers, Ramona is responsible for conducting orientation sessions for new employees in her company. In her sessions, Ramona uses a visual representation to explain the composition and structure of the company to the new employees. In this scenario, Ramona uses a(n) _____.

organization chart

Liza, an HR manager, wants to explain the hierarchy of the organization to a group of trainees. She also wants to describe to them their positions within the broader organization. For this purpose, she uses a visual representation of the company's structure. In this case, Liza uses a(n) _____.

organization chart

Daquip is a baseball kit manufacturer. It sells its products to final consumers through its own stores at a huge discount. From the given scenario, it can be concluded that Daquip is a(n) _____.

outlet store

Fit & Flare is a fitness equipment manufacturer. It sells its equipment directly to the public through its own stores at a huge discount. From the given scenario, it can be concluded that Fit & Flare is a(n) _____.

outlet store

Allied Bakeries sells processed food and beverages manufactured by Winston Corp. to the public. In this scenario, Allied Bakeries is a _____.

retailer

Glubert Corp., an adhesive manufacturing company, makes a deal with an insurance company to provide its employees with life insurances that come with low monthly premiums. In the context of Maslow's hierarchy of needs theory, the company is fulfilling the _____ needs of its employees.

safety

Sending products by__________is the least expensive option available to producers.

ship

Lydia works for a sports shoe manufacturing company that is based in the U.S. However, she manages one of the manufacturing units of the company in Brazil. As the unit is small in size, Lydia is in charge of supervising only 20 out of the 50 employees who work there. In this case, Lydia has a small _____.

span of control

The span of control is also called the _____.

span of management

Lawrence, the CEO of a media company, treats employees from all the levels of the organization in the same manner. The fair treatment is not just limited to his conduct with his employees, but it is also visible in the kind of perks and benefits they receive. Lawrence is strictly against discriminating in the workplace, and this motto of his keeps his employees greatly motivated. In this scenario, Lawrence follows _____.

the equity theory

The _____ of a firm includes managers who set the overall direction of the firm, articulating a vision, establishing priorities, and allocating time, money, and other resources.

top management

Lynk Corp. drives perishable goods, such as eggs, bread, and muffins to small grocery stores. In addition to taking legal title of the goods it distributes, Lynk Corp. also checks the stock and suggests reorder quantities to the grocery stores. It is evident that Lynk Corp. is a(n) _____.

truck jobber