BUS 100 FINAL

The primary role of middle managers is to: Allocate resources, oversee first-line managers, and develop and implement activities. Supervise employees and participate in day-to-day operations. Plan and make decisions, scan the environment, and set objectives. Develop strategic initiatives, hire new employees, and develop expense reports.

Allocate resources, oversee first-line managers, and develop and implement activities.

Under the Americans with Disabilities Act, employers must provide reasonable accommodation to an employee or applicant with a disability, unless this accommodation would cause significant difficulty or expense for the employer. Under this act, which of the following would be true? An employer must provide a chair and shorter working hours, as medically requested, for an employee recovering from Cancer. An employer must allow an employee, diagnosed with a medical condition that causes uncontrolled seizures, to continue his or her job operating heavy machinery. The employer must make accommodations and hire a prospective firefighter, whose job would require him or her to be able to run and perform other physical tasks, even though this prospective employee has a disability and requires the use of a wheelchair. An employer must allow an employee with PTSD to continue his or her warehousing job even though the noises in the facility

An employer must provide a chair and shorter working hours, as medically requested, for an employee recovering from Cancer.

Which of the following would best summarize Taylor's four principles of scientific management. Enforce a performance-based pay system to incentivise workers to be productive. Work as a team to assure everyone experiences job satisfaction. Study the process and optimize the way work is done. Answer Hire, train on the job, and fire when necessary.

Answer Hire, train on the job, and fire when necessary.

When creating a value proposition, the statement should be: Concise, compelling and dynamic Clear, consistent and dominant Captivating, consistent, and verbose Clear, compelling and differentiating

Clear, compelling and differentiating

The job of operations management consists of all of the activities involved in: Marketing to end customers Creating efficient sales pipelines Creating deal structures for customers to buy your product Coordinating efforts, tasks, and resources

Coordinating efforts, tasks, and resources

The following are benefits of businesses using intranets to manage information EXCEPT: Workforce productivity. Enhanced collaboration. Reduced costs. Customer interaction.

Customer interaction.

How is data protected when businesses use VPNs to manage their information? Data is stored and sent later when the user is connected to the internal network. A special cable is used by the business that only can be connected to company devices. False data is sent simultaneously with actual data to be encoded manually by the receiver. Data is transmitted in encrypted form and authentication is required for both sender and receiver.

Data is transmitted in encrypted form and authentication is required for both sender and receiver.

Which of these terms describe the collection, organization, and storage of massive amounts of business data? Data farming. Data networking. Data mining. Data warehousing.

Data warehousing

The "Place" component of the marketing mix is defined as: Communication and information The goods and services offered Distribution and delivery The company's location

Distribution and delivery

A material-requirements planning system is intended to meet one of the following objectives: Maintain the highest possible material and product levels in store Maintain the costs associated with the company Maintain the operations department profit margin Ensure that materials are available for production

Ensure that materials are available for production

The "price" component of the marketing mix is defined as: Identifying the maximum revenue a business can yield from each customer Understanding your target market's income level Ensuring fair value in the transaction Knowing when a consumer would be likely to spend more money on an item

Ensuring fair value in the transaction

Employment anti-discrimination laws were enacted because people were treated unfairly based on characteristics unrelated to ability. What is the entity that enforces a number of federal anti-discrimination employment laws? Small Business Administration Department of Housing and Urban Development Equal Employment Opportunity Commission (EEOC) Occupational Health and Safety Administration

Equal Employment Opportunity Commission (EEOC)

Digital marketing aims to sell products or services directly to consumers rather than going through retailers. True False

False

External hiring is the most cost-effective method of recruiting potential employees, as it uses existing company resources and talent pool to fill needs . True False

False

Giving employees autonomy to step back and assess the quality of their work, improve, and address mistakes is known as job rotation? True False

False

Maslow's Hierarchy of Needs is very rarely used by today's managers. True False

False

Networking is use of software and computer controlled machinery to automate the manufacturing process. True False

False

SWOT stands for strengths, weaknesses, openness, and threats? True False

False

Statement of cash flow reports effects on cash of a company's operating, investing and reporting activities. True False

False

The arrangement of equipment according to its function is called fixed position layout. True False

False

The role of marketing is to identify, select and retain customers. True False

False

Hygiene factors are part of ________ theory of motivation. 4/ Fayol's McClelland's Herzberg's Maslow's

Herzberg's

Which of the following is the first step when defining your target market? Segment your total market. Profile your target customer segment(s). Develop a marketing plan for the entire target market. Identify the customer need you address.

Identify the customer need you address.

The role of marketing is to Develop strong brand awareness for companies. Identify, satisfy, and retain customers. Notify, create, and satisfy customers. Communicate with, identify, and gain customers.

Identify, satisfy, and retain customers.

One of the benefits of diversity in the workplace is "localization." What does localization mean? This refers to a company that opens an office in a new county and then hires workers from the local community to fill many of the jobs within the business. Localization is when an organization only hires workers that are from the community that organization's headquarters is located in. When diverse employees come together in one location, eventually the employees start to become very familiar with the local environment. They start to fit into the community and act like "locals." In a global marketplace, a company that employs a diverse workforce is better able to understand the demographics of the various consumer marketplaces it serves

In a global marketplace, a company that employs a diverse workforce is better able to understand the demographics of the various consumer marketplaces it serves

Which of these financial statements explains the changes in a business during a period of time? Balance sheet, income statement Statement of owner's equity, balance sheet Balance sheet, statement of retained earnings Income statement, statement of owner's equity

Income statement, statement of owner's equity

What is more important to businesses than the data they collect? Physical assets. Patents. Credit rating. Information

Information

________ is the process of coordinating all messages, media and activities used by an organization to communicate with the market across different communication methods Content marketing An advertising campaign Guerrilla Marketing Integrated marketing communication

Integrated marketing communication

ISO 9000 is a certification used by many companies for: International cost management International quality management International environmental management International ethics management

International quality management

Which of the following strategies defines how the marketing mix can best be used to achieve the corporate strategy and objective. Price Product Consumer Marketing

Marketing

Accounting is used to communicate financial information to both internal audiences and external audiences. Internal users are: Suppliers that provide goods Contractors that perform work for the business. Only people within a business's accounting and finance departments People within the business like production managers

People within the business like production managers

Which of the following is an example of an unsought product? Coffee Car TV Pest control service

Pest Control

In Equity theory, inputs are the employee's contribution to the workplace. Inputs include Seniority or years with the company. Professional certificates and degrees earned before joining the company. Professional experiences and skills earned before joining the company. Primarily time spent working and level of effort but can also include loyalty, commitment, and enthusiasm.

Primarily time spent working and level of effort but can also include loyalty, commitment, and enthusiasm.

PERT is useful when the production process is fairly complex, and it stands for: Program Efficiency and Relational Technique Process Evaluation and Review Target Program Evaluation and Review Technique Process Efficiency and Review Technique

Program Evaluation and Review Technique

________ are price reductions given for out-of-season merchandise—snowmobiles discounted during the summer, for example. The intention of such discounts is to spread demand over the year, which can allow fuller use of production facilities and improved cash flow during the year. Loyalty discounts Seasonal Discounts Cash discounts Trade discounts

Seasonal Discounts

The disadvantages of cloud computing for businesses managing information are: Security and increased training. Security and application customization. Security and poor application selection. Security and loss of service.

Security and loss of service.

Which of the following would be considered convenience products? Soft drinks and chewing gum Shirts and shoes Tires and car batteries Cell phones and laptops

Soft drinks and chewing gum

What is the last step in any marketing research project? Setting up measurement criteria Development of an approach to the problem Taking action Research design formulation

Taking action

One of the technologies that has changed how businesses do business today is mobile solutions. The term "mobile solutions" refers to: The ability to determine the correct grade of gasoline needed by your automobile. The ability to use electric cars instead of internal combustion engines. The ability to move to a new city upon receiving a job transfer. The ability to use smart devices to buy, sell, shop and communicate.

The ability to use smart devices to buy, sell, shop and communicate.

________ is a set of interdependent organizations involved in the process of making a product or service available for use or consumption, as well as providing a payment mechanism for the provider. A wholesaler co-op . The channel of distribution A retailer network A supply chain

The channel of distribution

Personal emails sent to your friend from your work email address belong to: You. The Public. Shared by the company and the employee. The company

The company

Benchmarking involves comparing business processes and performance metrics to industry bests and best practices from other companies. True False

True

Brands are a combination of tangible and intangible elements. True False

True

Federal and state legislation has been enacted to set standards for health and safety. True False

True

Frederick Taylor established the Scientific Management Theory? True False

True

Sarbanes-Oxley Act went into effect in 2002, to increase severity of penalties for fraudulent financial activity and altering or destroying a key audit documents. True False

True

Some of the advantages of cloud computing is the speed of delivery and being mobile. True False

True

The first question in market research is who is the customer. True False

True

What is a "VPN"? Very Privileged Node. Vocal Public Newbie Variable Password Netiquette Virtual Private Network.

Virtual Private Network.

Reinforcements can be positive or negative. For example, a bonus is positive. Which of the following is an example of negative reinforcement? A missed bonus. When a manager allows staff to telecommute, avoiding a long drive. A punishment.

When a manager allows staff to telecommute, avoiding a long drive.

________ play an important role as intermediaries acting as a link in the distribution process to help move goods between producers and retailers. Wholesalers Retailers Agents Direct distributors

Wholesalers

A set of attributes or features (e.g. name, term, design, symbol, reputation, etc.) that distinguishes the goods and services of one seller from another is known as ________. an advertising strategy a marketing strategy a brand a trademark

a brand

Maslow's hierarchy of needs is illustrated in a pyramid shape that represents how: as we satisfy the needs at the top of the pyramid we look to satisfy lower needs human beings have needs that evolve as they age. all human beings have basic needs that must be met before individuals can focus on higher needs. human beings have varied needs that managers must discover.

all human beings have basic needs that must be met before individuals can focus on higher needs.

The accounting equation is: liabilities − assets = owner's equity owner's equity = assets + liabilities liabilities = assets + owner's equity assets − liabilities = owner's equity

assets − liabilities = owner's equity

In theory, a JIT system would have parts and materials arriving on the warehouse dock: at the exact moment they are needed on a scheduled basis once per week once a month

at the exact moment they are needed

In the Hawthorne studies, Mayo discovered that workers were highly responsive to additional. time to spend with their coworkers. financial incentives. better lighting conditions. attention from their managers.

attention from their managers.

The ________ provides a snapshot of the company's financial position at a specific point in time. income statement statement of cash flows profit and loss statement balance sheet

balance sheet

Some legitimate reasons a manager might layoff a high performing employee include: because the employee is expected to take time off to have a baby. because revenues are down and they have to downsize—to cut costs by eliminating jobs. because the manager doesn't like the employee. because the employee has political opinions that differ from the manager's.

because revenues are down and they have to downsize—to cut costs by eliminating jobs.

Tactical plans: establish detailed standards guiding the implementation of the strategic plan. outline the visionary milestones an organization wants to achieve. break down strategic plans into manageable, shorter-term components. provide highly detailed action steps to be taken by individuals or groups.

break down strategic plans into manageable, shorter-term components.

The software used to design models of potential products is called ________. computer-created design (CCD) computer-designed manufacturing (CDM) computer-aided design (CAD) computer-aided manufacturing (CAM)

computer-aided design (CAD)

Marketing is best defined as the activities, organizations, and processes for ________. designing and strategically releasing promotional materials to consumers. designing, building, delivering and supporting a product or service. advertising, building awareness of and promoting an object of value for customers. creating, communicating, delivering, and exchanging offerings that customers value.

creating, communicating, delivering, and exchanging offerings that customers value.

Theory Y leadership assumes:. creative capacity can spread throughout organizations Employees are more productive when they have strong relationships at work. employees will be more productive if rewards monetary and immediate. Most people are self-centered. As a result, they must be closely controlled and often coerced to achieve organizational objectives.

creative capacity can spread throughout organizations

James has a leadership style that is sometimes described as "hands off" or laissez-faire management because he: delegates the tasks to the employees while providing little or no direction. isn't in the office all the time but keeps a close watch on all duties. spends most of his time collaborating with employees. likes to micromanage the employees.

delegates the tasks to the employees while providing little or no direction.

The acid-test (quick) ratio is different from the current ratio in that it: measures liquidity. includes inventories. measures net profit. emphasizes assets that are quickly and reliably turned into cash.

emphasizes assets that are quickly and reliably turned into cash.

In the United States, the________ is the right of an employer to fire an employee or an employee to leave an organization at any time, without any specific cause. This principle gives both the employee and employer freedom to terminate the relationship at any time. employment-at-will principle just cause principle mandatory employment principle right-to-work provision

employment-at-will principle

Skills that allow you to get along with and motivate other people are: conceptual skills. human skills. technical skills. functional skills

human skills.

Herzberg hypothesized that are two different sets of factors governing job satisfaction and job dissatisfaction. These are motivation factors and relationship needs existence and relations needs. financial needs and safety needs. hygiene factors and motivation factors.

hygiene factors and motivation factors.

The ________ shows the income and expenses of a company over a period of time. balance sheet statement of cash flows statement of retained earnings income statement

income statement

The four financial statements a company is required to prepare according to GAAP are: income statement, corporate tax return, balance sheet, and statement of cash flows. income statement, statement of financial position, balance sheet, and statement of cash flows. income statement, corporate tax return, statement of financial position, and statement of cash flows income statement, balance sheet, statement of cash flows, and statement of owner's equity.

income statement, balance sheet, statement of cash flows, and statement of owner's equity.

The belief that a person will receive a desired outcome if he meets the performance goal is called ________ in Vroom's Expectancy theory. valence expectancy grit instrumentality

instrumentality

Accounting allows businesses to communicate information about a company's financial performance to the following groups of users: internal users, external users, and suppliers consumers, suppliers, and the government internal users, the government, and suppliers internal users, external users, and the government

internal users, external users, and the government

Materials-requirements planning (MRP) is a production planning, scheduling and inventory control system used to manage manufacturing processes. ________ MRP systems are software-based. none all some most

most

The arrangement of people within an organization is known as: organizational structure. unity of command. team structure. span of control.

organizational structure.

The National Labor Relations Act was created to: protect employees from retaliation should they join a union protect companies from unfair labor practices by unions combat corruption in labor unions force more workers to join unions

protect employees from retaliation should they join a union

A major focus of the staffing activities is: discussing daily operations with line management. negotiating group health insurance rates. screening out candidates who are likely to sue the company for discrimination. protecting the company from lawsuits by satisfying legal requirements.

protecting the company from lawsuits by satisfying legal requirements.

One of the key factors that influence facility location are: proximity to customers, suppliers and skilled labor what are the products that will be available if there is space available to expand the facility in the future what the building design will look like

proximity to customers, suppliers and skilled labor

The first three steps in the controlling process include: comparing performance to standards; setting standards; taking corrective action. measuring performance; taking corrective action; revising performance standards. setting standards; measuring performance; comparing performance to standards. reviewing current processes, comparing processes to industry benchmarks, taking corrective action.

setting standards; measuring performance; comparing performance to standards.

HR departments strive to offer benefits that will appeal to workers, thus reducing: the risk of losing corporate knowledge. employee independence. the risk of sick employees. the risk of employee disobedience.

the risk of losing corporate knowledge.

Conceptual skills are most essential for: lower-level managers and employees. mid-level managers. front-line employees. top-level managers.

top-level managers.

The ________ looks very similar to the retail channel. It is primarily engaged in buying and usually storing and physically handling goods in large quantities, which are then resold (usually in smaller quantities) to retailers or to industrial or business users. wholesale channel direct channel retail channel agent channel

wholesale channel