BUS101 Chp.1-5 TEST

A positive incentive differs from a negative incentive in that a positive incentive ___. A. Makes the choice more likely B. Makes the choice less likely C. Increases the cost of making a decision D. Decreases the possibility that a choice will be made

A

In addition to their own hard drives, companies use ____ to store and analyze large volumes of data A. Clouds B. Cookies C. Virtual private networks D. Big data

A

Societies such as Germany tend to be more conservative and to have a preference for well-established rules and procedures. Such societies have high levels of this Hofstede dimension A. Uncertainty Avoidance B. Collectivism C. Individualism D. Indulgence

A

The actions an organization takes to protect data and information from those who might attempt to access and use it for unauthorized purposes are referred to as _____. A. Cybersecurity B. Business Analytics C. Information Technology D. Hacking

A

The perceptions that others have about you are based on your appearance, the way you communicate, and what you post on social media. This is known as your ____. A. Personal Brand B. Personality C. Internet Life D. Online Persona

A

To establish a strong organizational culture, organizational leaders should: A. Seek input from employees B. Involve customers C. Reflect on a company history D. Establish a business strategy

A

What is the first step that entrepreneurs take before opening a business? A. They scan the environment for opportunities and needs B. They complete a business proposal for inestors C. They purchase land or equipment D. They mobilize resources to hire employees

A

When Starbucks purchases its land in South America to grow its coffee beans, Starbucks is using the following corporate strategy: A. Backward vertical intregration B. Unrelated Diversification C. Concentration D. Forward vertical integration

A

When a company adds to or expands its existing line of products or markets, the company is engaging in this type of corporate strategy: A. Related Diversification B. Concentration C. Unrelated Diversification D. Vertical Integration

A

When the handbag manufacturer Coach opens its own stores in shopping malls, Coach will likely benefit from _____ A. Additional quality controls B. The focus on a single business C. Highly diverse concentration D. Highly specialize concentration

A

Which of the following describes related diversification? A. When organizations expand into businesses similar to their core business B. When manufacturers sell their own products in retail stores C. When organizations merge or acquire firms unrelated to their core competency D. When organizations compete in a single industry

A

Which of the following is an example of when a firm earns a profit? A. When revenues are greater than expenses B. When revenues are from the sale of tangible products C. When its stock price declines D. When investors rank the business well

A

Which of the following statements about businesses is TRUE? A. For-profit business and non-profit businesses both need to generate profits to sustain themselves B. For-profit businesses earn profits to support their missions, while nom-profit businesses do not earn profits C. Non-profit businesses ear profits for the benefits of their owners and shareholders D. For-profit businesses are sustainable, while non-profit businesses are not

A

Which of the following statements about data collection is true? A. Companies rely on the data they collect as well as data supplied by customers B. Companies would rather buy data about their customers than collect it themselves C. Companies only use the data that they collect about customers, because it is more reliable that the data customers provide D. Companies prefer to use data that customers provide, because it is more reliable than what they company collects

A

Which of the following statements about information technology is NOT true? A. Information technology is useful for collecting data, but other tools must be used to analyze the data B. Information technology may be used to retrieve data that has already been collected C. Organizations may use information technology to store data after it has been collected D. Information technology allows data to be shared with people inside and outside of the organization

A

____ is a term used to describe large sets of data and their analysis A. Big Data B. Business Analytics C. Cloud D. Information E. Cookie

A

Which of the following are factors of production? A. Capital B. Entrepreneurial Ability C. Cash D. Properties

A and B

Which of the following organizational structures is mechanistic? A. Formalized B. Bureaucratic C. Flexible D. Organic

A and B

Which of the following roles is considered one of Mintzberg's informational role? A. Monitor B. Disseminator C. Resource Allocator D. Negotiator

A and B

Which of the following advantages of having online access to credit card accountants? A. Customers can view transactions and pay monthly bills online B. Customers can track spending more easily and detect fraudulent or incorrect charges C. Customers can use their online accounts to have cash delivered to them D. Customers can authorize automatic payments

A, B , and D

Which of the following are potential disadvantages of telecommuting? A. Employees may miss interaction with coworkers B. Employees might find it difficult to disconnect on weekends or vacations C. Employees might have fewer opportunities for collaboration D. Telecommuting limits the geographical area in which employers can recruit new employees E. Employees who telecommute demand higher wages

A, B, and C

Which of the following statements about learning management systems are true? A. They enable two-way communication between students and instructors B. They give students the ability to check grades online C. They are less useful for hybrid courses than for face-to-face courses D. They allow students to submit assignments

A, B, and D

____ is the use of machinery to do a job instead of human labor

Automation

Firms that diversify into unrelated product lines benefit from ______ A. A decreased focus on the firm's core competency B. The diversification of risks across multiple industries C. A shift in consumer tastes D. An increased focus on the firm's core competency

B

Hundreds of recent studies have indicated that Hofstede's cross-cultural values dataset ____. A. Is no longer relevant B. Is still valid C. Should be updated D. Is outdated

B

In societies such as Japan, fewer women hold few managerial positions and a large wage gap between men and women exists. Such societies are characterized by this Hofstede dimension: A. Femininity B. Masculinity C. Restraint D. Individualism

B

Online platforms like Blackboard that enhance the delivery of course content to students are known as: A. E-Learning Systems B. Learning Management Systems C. Online Courses D. Internet-based Learning Systems

B

Opportunity cost refers to: A. The costs that accountants refer to on balance sheets as variable expenses B. The highest-valued good or service that a business must give up when making a choice C. The costs that accountants refer to on balance sheets as general expenses D. The lowest-valued good or service that a business must give up when making a choice

B

S.M.A.R.T. goals are ____ A. Sustainable, measurable, attainable, realistic, timely B. Specific, measurable, attainable, realistic, timely C. Sustainable, maintainable, attainable, relative, timely D. Specific, maintainable, attentive, relative, timely

B

Societies in which basic human needs are suppressed are characterized by greater levels of _____ A. Collectivism B. Restraint C. Indulgence D. Short-term Orientation

B

Societies such as Denmark tend to be comfortable in ambiguous, unstructured situations. According to Hofstede, such societies have low levels of ____ A. Power Distance B. Uncertainty Avoidance C. Short-term Orientation D. Indulgence

B

This Hofstede dimension is characterized by a preference for working in groups and team-based pay A. Femininity B. Collectivism C. Individualism D. Power Distance

B

What does the acronym SWOT stand for? A. Strengths, weaknesses, optimization, and timeliness B. Strengths, weaknesses, opportunities, and threats C. Strategic workplace optimization and timeliness D. Strategic web page optomization and torque

B

When a company adds to or expands its existing line of products or markets, the company is engaging in this type or corporate strategy: A. Unrelated Diversification B. Related Diversification C. Vertical Integration D. Concentration

B

When firms acquire or merge with firms that are not related to their core competency, they are using which type of corporate strategy? A. Forward Vertical Integration B. Unrelated Diversification C. Backward Vertical Integration D. Related Diversification

B

Which best describes a society that encourages and rewards collective action? A. Performance Orientation B. Institutional Collectivism C. Power Distance D. Humane Orientation

B

Which dimension emphasizes perseverance and status? A. Collectivism B. Long-Term Orientation C. Masculinity D. Uncertainty Avoidance

B

Which of the following NOT one of the advantages of offshoring? A. Offshoring could expose a company's products to new customers in other countries B. Offshoring creates more jobs in a company's home country C. Offshoring allows a company to establish a presence outside of its home country D. Offshoring provides a company with an opportunity to take advantage of lower labor costs in another country

B

Which of the following is NOT a benefit of vertical integration? A. Vertical integration provides additional quality controls B. Vertical integration reduces individual accountability C. Vertical integration reduces uncertainty D. Vertical integration reduces costs

B

Which of the following is NOT an example of a data breach? A. While accessing your bank account on a public wifi network, someone gets your sign in information and locks you out of your account B. A coworker who is authorized to access information about customers sees customer records on your computer C. An employee disposes of customer records in a dumpster in the alley D. Someone outside of your company accidentally gains access to your customer records

B

Which of the following is an example of a firm adding value to its stakeholders? A. When JC Penney's lays off a significant portion of its workforce B. When Google develops stronger search optimization engines C. When Rolex's profits decline in the Swiss market D. When Walmart settles a class action lawsuit

B

Which of the following is an example of when a firm adds value for its primary stakeholders? A. When the government increases the corporate tax rate B. When Publix hires new employees to staff busy stores C. When Walmart closes one of its recently unionized locations D. When Kmart's CEO takes a pay raise while laying off over 20,000 workers

B

Which of the following statements about business analytics is NOT true? A. It allows data to be analyzed as it is being collected B. It requires a company to collect data before deciding how to use it C. It involves building analysis models and simulations to create scenarios D. It allows a company to convert massive amounts of data into information

B

Which of the following statements best explains the difference between data and information? A. Companies use data to make decisions, and information is feedback they collect after the decision has been made B. Companies collect data about customers, and information is data that has been analyzed and formatted for use by decision makers C. An organization collects data about its customers, but it collects information about the environment in which is operates D. All data can be represented by numbers, but information must be stated in words

B

Which of the following are potential negative impacts of offshoring? A. Labor costs will increase B. Some employees in the home country might lose their jobs C. It might be difficult to maintain contact or exchange information with employees and customers in another country D. Customers might be negatively impacted

B and D

Which of the following statements about telecommuting are true? A. Telecommuting is possible even when a worker does not have access to the Internet or a telephone B. Telecommuting gives workers the ability to correspond with coworkers and participate in meetings C. Telecommuting allows an employee to work while traveling D. Workers who telecommute are able to access the information they need remotely

B, C, and D

Which of the following that would cause the demand for Vera Wang shoes to change? A. A reduction in the price of leather used in the production of VW shoes B. A change in consumer preferences for footwear C. A drop in the price of shoes brands considered to be substitutes for VW shoes D. Consumer incomes improve as the global economy recovers from a recession

B, C, and D

According to a study, workers in these fields are at the greatest risk of having their jobs automated in the future A. Law Enforcement B. Office Support C. Transort and Logistics D. Education E. Sales and Services

B, C, and E

A firm's core competency can be defined as ____ A. A reflection of the external environment B. An achievement for which the company received recognition C. A source of a firm's competitive advantage D. A way that a firm is similar to its chief competitors

C

A vision statement differs from a mission statement in that a vision statement: A. Describes the strengths and weaknesses of an organization, while a mission statement focuses on opportunities and threats B. Describes current goals and strategies, while a mission statement focuses on a future ideal condition C. Describes a future, ideal condition for the firm, while the mission statement describes an organization as it currently operates D. Is globally relevant, while a mission statement is locally relevant

C

According to Kotter, creating a sense or urgency and forming a coalition are two important steps in _____ A. Influencing Cultures B. Removing Obstacles C. Leading Change D. Defining Management Functions

C

It has been predicted that the number of interconnected devices in the world will exceed ____ by the year 2020 A. 2 billion B. 200 million C. 20 billion D. 20 million

C

One benefit of establishing a set of core values and using those core values as guiding principles is that by doing so, organizational leaders will help to establish ____ A. An effective compensation system B. An effective training program C. A strong organizational culture D. An effective computer system

C

People who live in individualistic societies tend to prefer ____ leaders A. Indulgent B. Hierarchical C. Participative D. Authoritative

C

Positive-sum outcomes are preferable to zero-sum outcomes because ___. A. They are more fun B. They increase diversity C. They create wealth D. They enhance employee bonding

C

The consumer price index is a measure of: A. Those who are employed plus those who have been looking for work B. Changes over time in the cost of buying market basket of goods and services purchased by a typical business C. Changes over time in the cost of buying a market basket of goods and services purchased by a typical family D. The percentage of change in the cost of a market basket from one month to the next

C

The four functions of management are _____ A. Scan, consider, adopt, monitor B. Realize, criticize, harmonize, philosophize C. Plan, organize, lead, control D. Plan, oversee, monitor, implement

C

To establish a strong organizational culture, organizational leaders should do which of the following? A. Develop a list of internal weaknesses B. Identify external threats C. Develop a set of core values D. Identify external opportunities

C

What is the benefit knowing a business' core competency? A. A business person will be able to conduct a SWOT analysis B. A business personal will be able to analyze his/her competitors C. A business person will be able to identify the source of his.her success D. A business person will be able to scan his/her environment

C

When Apple opens retail locations to sell its iPhones, Apple is using the following type of corporate strategy: A. Unrelated diversification B. Related diversification C. Forward vertical integration D. Concentration

C

When accessing financial information or other sensitive information via the Internet when away from home, it is a good idea to use a(n): A. Public Network B. Open Network C. Virtual Private Network D. Unsecured Network

C

When decision-making authority is pushed down to lower levels of an organization, the organization is using a _____ structure A. Mechanistic B. Centralized C. Decrentalized D. Bureaucratic

C

Which of the following dimensions refers to the extent to which less powerful members of a society accept an unequal distribution of power? A. Uncertainty Avoidance B. Indulgence C. Power Distance D. Collectivism

C

Which of the following is NOT an example of information that a company might use to make a decision about how to motivate a customer to make more purchases with them? A. The number of times that a customer has redeemed coupons during a purchase B. The number of times the customer visited the company this past month compared to the month before C. The amount of money that the customer spent during a single purchase D. The days of the week that the customer has been most likely to make a purchase during the past year

C

Which of the following statements about online and mobile banking is true? A. The use of online and mobile banking is decreasing because of concerns about security B. Most customers never access their bank accounts and other bank services online C. The use of mobile is more popular among customers under the age of 44 D. The use of online banking is increasing, but the use of mobile banking is decreasing

C

Which of the following statements best describes the impact of automation on jobs in the United States? A. All of the jobs that can be automated have been automated B. Automation will eventually eliminate the need for people performing jobs completely C. Nearly half of all workers perform jobs that are at risk of being automated D. All jobs are easily automated

C

Working from home by accessing the Internet is known as: A. A home-based business B. E-Commerce C. Telecommuting D. Cyberemployment

C

Which of the following are functions of management? A. Price B. Production C. Plan D. Control

C and D

Coach handbags sells its high-end purses at premium prices. Coach is engaging in this type of business strategy: A. Niche B. Concentration C. Low-cost D. Differentiation

D

In highly ____ societies, more women are in management and a relatively small wage gap exists A. Indulgent B. Individualist C. Collective D. Feminine

D

Libby is running a charitable organization and needs to convince people to volunteer their time to help others, She sends them an email, offering the "opportunity" to make a difference in the lives of the needy. She is using an effective ___ approach A. Binary B. Trade-off C. Marginal D. Framing

D

Selling products online is known as: A. Online selling B. Online commerce C. Internet sales D. E-Commerce

D

Societies characterized by ____ prefer hierarchical organization pyramids, wide salary gaps, and a large proportion of supervisory personnel A. Long-term orientation B. Restraint C. Individualism D. Power Distance

D

Societies in which sensitivity and benevolence towards people are encouraged are likely to have higher levels of ____ A. Future Orientation B. In-Group Collectivism C. Gender Egalitarianism D. Humane Orientation

D

Societies such as Canada and the US are more focused on immediate results. Such societies are characterized by low levels of Hofstede's ____ dimension A. Uncertainty Avoidance B. Power Distance C. Individualism D. Long-term Orientation

D

Susie owns a small retail dress shop in Cleveland, Ohio. Her corporate strategy is _____ A. Vertical Integration B. Related Diversification C. Unrelated Diversification D. Concentration

D

The highest-valued good or service that a business had to sacrifice in order to do something is called _____ A. Positive Incentive B. Framing C. Marginal Cost D. Opportunity Cost

D

When a firm sells premium goods at premium prices, the firm is engaging in which business strategy? A. Consumer B. Market C. Low-cost D. Differentiation

D

When managers in a firm are capable and supportive, jobs are similar, performance indicators across jobs are comparable, subordinates are highly trained and autonomous, a _____ span of control is optimal A. Narrow B. Mechanistic C. Hierarchical D. Wider

D

When subordinates in a firm are less autonomous and have a high need for supervision, a _____ span of control is optimal A. Wider B. Egalitarian C. Organic D. Narrow

D

Which of the following about leaders is TRUE? A. People's preferences about leaders do not vary across cultures B. People who live in Eastern cultures tend to prefer participative leaders C. People who live in individualistic cultures tend to prefer authoritative leaders D. People who live in individualistic cultures tend to prefer participative leaders

D

Which of the following are NOT among a firm's stakeholders? A. A firm's owners B. A firm's suppliers C. A firm's customers D. A firm's competitors

D

Which of the following best describes the characteristics of a good mission? A mission statement should be ____. A. One-dimensional B. Unchanging C. Static D. Adaptable

D

Which of the following dimensions encourage and reward innovation and improvement? A. In-group collectivism B. Masculinity C. Uncertainty Avoidance D. Performance Orientation

D

Which of the following is an example of identity theft? A. A couple is disturbed when they discover that someone has observed them over a webcam in their home B. A woman's personal emails are made public after someone obtains the password to her Yahoo! account C. A company notices that some of its customers' data were vulnerable but did not appear to be viewed by anyone who should have had access to it D. A man discovers that someone else has obtained a credit card in his name without his knowledge and made purchases with it

D

Which of the following is an example of when a firm incurs a loss? A. When the firm produces goods and not services B. When the firm only sells tangible products C. When the firm only sells intangible products D. When expenses are greater than revenues

D

Which of the following is not an example of data? A. The amount of a customer's purchase B. The zip code of a customer who made a purchase C. The time of day a customer called customer support D. The decision to approve a customer's application for credit E. The age of a customer who just opened a bank account

D

Which of the following statements best describes a corporate strategy? A. A corporate strategy should be timeless and unchanging B. A corporate strategy focuses on the external threats in the global marketplace C. A corporate strategy focuses on a firm's internal weaknesses D. A corporate strategy defines the business, market, or industry in which organizations will operate

D

Which of the following statements is correct? A. Highly masculine societies are likely to have smaller wage gaps B. Large wage gaps suggest that women's average ay is very close to men's average pay C. Societies with few women in managerial positions are likely to have smaller wage gaps D. The OECD data suggest that women are paid less than men in all countries surveyed

D

____ is defined as the systems , processes, and tools that enable organizations to collect data and obtain information from it A. Data Processing B. Big Data C. Database Management D. Information Technology

D

True or False: Firms that use a related diversification corporate strategy minimize the risks associated with remaining in a single industry

False

True or False: Since Hofstede's original dataset is over 40 years old, his findings have no relevance today

False

_____ policy refers to the government's plans for taxing and spending

Fiscal

Organizations should hire job candidates who ____ the firm's core values

Share

Leaders characterized by charism and inspiration are referred to as ____ leaders

Transformational

True or False: A corporate strategy informs the allocation of resources among entities to support that strategy

True

True or False: When the costs of making a choice exceed the benefits of that choice, a person is less likely to make the choice

True

A ____ is a file that a website you visits to your browser

cookie

A(n) ____ is a person who accesses the data of an organization through unauthorized entry into its computer network

hacker

A(n) ____ course is delivered partially using the traditional face-to-face format with the remainder being delivered online

hybrid