Midterm

Two co-workers at Nortel came up with an idea for renting software over the Internet. Nortel's top management liked the idea and set up a special division called Channelware devoted to taking the idea and making a new product. The establishment of a new company and assigning the employees in the division the task of making an idea a reality requires which management function?

Organizing

Fairmount Food Group purchased Swissrose International Inc., market of several brands of specialty and food service cheese from ConAgra. The _____ will make Fairmount the largest U.S. importer and marketer of deli-style cheese.

Merger

Which of the following is the best example of service

The pleasure you derive from seeing a good play

A German law that prohibited the use of hops grown outside of the country in the production of German-made beer was overturned in the late 1980s. This law was an example of a(n):

Buy-national regulation

The goal of cellular manufacturing is to:

create a team environment

The two key aspects of production control are:

routing and scheduling

Many organizations that experienced success using problem-solving teams expanded the team concept to allow team members to have greater responsibility in making decisions, implementing solutions, and monitoring outcomes. These highly autonomous groups are called:

self-managed work teams

North American Van Lines and Allied Van Lines combined in a _____ merger that will create the world's largest moving company. Prior to the merger, North American was the leading company in moving high-end merchandise such as computer and hospital equipment, while Allied specialized in households.

horizontal

In Herzberg's theory, salary is an example of a(n):

hygiene factor

Good routing procedures:

increase productivity

The typical problem-solving team:

meets on a regular basis to share information and discuss ways to improve processes

A(n) _____ layout arranges work flow around the production process. All workers performing similar tasks are grouped together.

process

When Art Baer read that Singapore would lift its ban on chewing gum, he thought to himself, "There has to be a market there." Baer, 26, knew if he was going to move beyond the daydreaming stage, he had to move fast. After investing $20,000 of his own money into developing a product he called Impress Gum, Baer quit his job, flew to Singapore, talked to the right people in the government, lined up a manufacturer, and hired a marketing firm to promote his gum, which fights tooth decay. Baer is an example of a(n) ______ entrepreneur.

Classic

Which of the following statements about cooperatives is true?

Cooperatives increase their members buying power.

_____ inflation is inflation that occurs when the demand for goods and services is greater than the supply.

Demand-Pull

The franchisor generally does NOT provide the franchisee with:

Employee Selection

One of the keys to successful production planning is resource management. _____ is a system that would note how a possible strike in an Evanston, Indiana, plant will threaten supplies of a needed component part as well as how customer growing preference for time-saving devices such as the company markets and use this information in production planning.

Enterprise resource planning (ERP)

Penny Clovis works as a maintenance supervisor for a large hotel. She is new in her position and the first woman to ever hold this position for this hotel chain. Clovis has become increasingly concerned about negative statements she has overheard like, "Well, Penny's promotion should get the affirmative action people off our back for awhile." According to the definition, does Clovis have a grievance?

NO. She does not have a grievance because there is no contract violation here.

The world's largest bank. Deutsche Bank set as its objective to make its name more recognizable in the United States. The success of its decision to sponsor a PGA golf tournament to accomplish this organizational objective will ultimately depend on which management function?

Planning

The _____ measures prices paid by producers and wholesalers for commodities, including raw materials and finished products.

Producer price index

Kohber is a Swiss-company that makes medical equipment. It recently purchased a company, which manufactures packaging for high-value drugs. Since it will run the packaging company as a separate division, it would seem that Kohber is departmentalized by:

Product

Another name for the matrix structure is the:

Project management approach

The _____ GDP takes inflation into account and uses adjusted market prices

Real

An S corporation is generally set up to:

Reduce tax burdens

_____ is the practice of tying philanthropy closely to the corporate mission or goals and targeting donations to regions where a company operates.

Strategic Giving

Staples, the office supply chain, allows its business customers to purchase all of the office supplies they need through the Staples Web site. Businesses that use this service are engaged in:

e-procurement

Products that are difficult to move out of a plant once they are manufactured, such as ocean-going vessels and room-sized murals, are usually manufactured in a _____ layout.

fixed-position

A large furniture and appliance rental business is considering sponsorship options. It has brought together vice-presidents from the various functional areas of the company to determine which sponsorships will most effectively reach the rental company's prospective customers. The rental company has established a:

horizontally-organized team

Venture capital:

is financing obtained from investment firms that specialize in financing small, high-growth companies

Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government owned water and sewerage system for the entire country. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. To achieve this goal, Manila Water's top management will first need to engage in _____ planning to determine what resources are needed to achieve this goal.

strategic

Who provides the start-up financing for the majority of new small businesses?

the business owner and his or her family and friends

Division of labor refers to:

the process to dividing work into separate jobs

Which of the following is a business

all of the above (Jack and Jill, Lawson and Tyler Law offices, Walmart, Ford Motor Company)

The final stage in a typical employee grievance procedure is:

arbitration

A manufacturer that uses the intermittent process to produce special customer orders is called a

job shop

One of the disadvantages of the matrix structure is:

lack of cohesiveness