Comp Ch. 13-17
What is the difference between an autocratic leader and a democratic leader
An autocratic leader issues orders without consulting his followers, while a democratic leader issues orders after consulting his followers.
Which of the following is a contingency type of worker
An independent contractor
Which of the following is a kind of on-the-job training
Apprenticeships
In the context of job enrichment, workers who have _______ have freedom and authority regarding their jobs.
Autonomy
In the context of a project network diagram, which of the following is the characteristic of a critical path
It is the sequence of activities that takes the longest to complete.
What is the difference between intensive distribution and selective distribution
Intensive distribution means placing the products in as many stores as possible, while selective distribution means placing the products with preferred retailers.
Which of the following is an example of internal recruitment
Jake, project manager at Tag Inc., was promoted as the company's general manager.
What is the difference between outsourcing and offshoring
Offshoring takes place across national boundaries, while outsourcing can take place within national boundaries.
Which of the following is true of operational planning
Operational plans typically have a daily or weekly timeframe.
What is the difference between planning and leading
Planning means figuring out where to go and how to get there, while leading means directing and motivating people to achieve organizational goals.
What is the difference between loss leader pricing and price skimming
Price skimming is a strategy used to entice price-insensitive consumers, while loss leader pricing is a strategy used to entice price-sensitive consumers.
In the context of recruitment, the _________ period is a specific timeframe during which a new hire can prove his/her worth on the job.
Probationary
Which of the following initiatives in the workplace is most likely to satisfy the esteem needs of employees according to Maslow's hierarchy of needs
Promotions
What is the difference between retailers and wholesalers
Retailers sell products directly to final consumers, while wholesalers buy products from the producer and sell them to businesses.
Which of the following is an example of a supermarket
Sammy's, a company that specializes in food retailing, offers a wide range of food products and a limited range of nonfood items.
Which of the following questions indicates that a manager is undertaking strategic planning
Should we acquire a new company to increase our reach?
________ is a product pricing strategy that offers new products at a premium price to entice price-insensitive consumers to buy high when a product first enters the market.
Skimming pricing
In the context of a SWOT analysis, which of the following will be considered an opportunity for the firm Copeland Inc.
The firm identified an emerging trend that it can use to enter a new market segment.
Which of the following statements distinguishes strategic planning from operational planning
The framework for strategic planning is designed by the firm's top-level managers, while the framework for operational planning is designed by the firm's first-level managers.
In the context of employment training, the ________ approach is used by trainers to train workers on "real" equipment similar to what they would actually use on the job.
Vestibule
In the context of the Maslow's hierarchy of needs, which of the following satisfies an individual's self-actualization needs
a challenging task
David dropped by a supermarket to purchase few items. Which of the following items purchased by David is a durable good
a set of knives
The term _________ refers to policies meant to increase employment and educational opportunities for minority groups—especially groups defined by race, ethnicity, or gender.
affirmative action
In the context of employee benefits, the ________ approach involves giving employees a set dollar amount per person that they must spend on company benefits.
cafeteria-style
A firm is advised against maintaining a consistently large inventory when:
demand for its products is constant and predictable.
The ________ approach to pricing begins by determining what price consumers would be willing to pay for a particular product.
demand-based pricing
B&S Constructions is building a housing unit in the downtown area. Which of the following will the firm use
fixed-position layout
The ________ strategy is the production of small quantities of goods and services that tailored to more precisely meet the needs of specific customers—with very little increase in costs.
mass customization
The span of control refers to the:
number of people that a manager supervises.
In the context of recruitment, _______ are highly regulated by state and federal law to ensure that firms don't use them just to screen out certain individuals.
physical exams
The primary function of poka-yokes is to:
prevent mistakes from occurring or identify them quickly.
Firms use a _______ when they produce goods that are relatively standardized and produced in large volumes, organizing machinery, equipment and other resources according to the specific sequence of operations that must be performed.
product layout
The wheel of retailing suggests that:
retail firms become more upscale as they go through their life cycles.
"Poka-yoke" refers to:
simple methods incorporated into a production process designed to eliminate or greatly reduce errors.
In the context of recruitment, _______ is primarily a tool to reject unqualified candidates, rather than to actually choose qualified candidates.
the job application
In the context of Maslow's hierarchy, a self-actualization need is a need:
to realize one's full potential.
Which of the following would be part of the job description for a brand manager
work with product developers and media managers to develop ads
________ involves placing a firm's products in as many stores as possible.
Intensive distribution
Which of the following differentiates a merchant wholesaler from a broker
A merchant wholesaler takes title of the goods he distributes, while a broker does not take title of the goods he distributes.
Which of the following is the best example of odd pricing
A micro stereo system at Kent Inc. is priced at $189.99.
In the context of employee's compensation, which of the following is a benefit
A paid sick day
Which of the following is an example of a nondurable good
A paper towel
In the context of Maslow's hierarchy, which of the following refers to the needs that contribute to survival, such as food and water
A physiological need
You run a shop that sells coffee and pastries. Your fixed cost is $900,000 per year. Your variable cost per pastry—the cost of the ingredients and the cost of wages—is $5 per pastry. If your customers pay $10 per pastry, you need to sell a total of ________ pastries for your sales to equal your total expenses.
180,000
What is the difference between a CAE software program and CAD software program
A CAE software program is used to test the required designs, while a CAD software program is used to create these required designs.
Which of the following is a direct response retailer
A catalog retailer.
________ refers to a system that allows employees to work a full-time number of hours in less than the standard workweek.
A compressed workweek
Which of the following is a nonstore type of retailer
A vending machine
_______ do not take legal ownership of the goods they distribute and facilitate transactions in exchange for commissions.
Agents
A ________ software program helps engineers to find and correct design flaws before production.
CAE
________ is the management function that involves checking performance and making adjustments as needed.
Controlling
What is the difference between cost-based pricing and demand-based pricing
Cost-based pricing approach begins by establishing the product's cost, while the demand-based pricing approach begins by establishing the price consumers are willing to pay.
Who among the following is most likely to be a contingent worker
David, a freelance editor, is on call at Motorcity Media to fill in when the volume of work increases.
________ are wholesalers who take legal title of merchandise, but never physically possess it.
Drop shippers
In the context of manufacturing, _________ refers to producing a product at the lowest cost.
Efficiency
What is the difference between efficiency and effectiveness
Efficiency means producing a product at the lowest cost, while effectiveness means finding ways to give customers more for their money.
Which of the following is an example of a cafeteria-style benefit plan
Employees at Outworld Inc., a video game developer, can select the benefits they prefer up to a limit of $500 a month.
What is difference between wages and salaries
Employees earning wages qualify for overtime earnings, while a salaried employee does not qualify for overtime earnings.
In the context of job enrichment, who among the following can be said to have job autonomy
Esther has complete freedom and authority regarding her job as a project manager at Flair Inc.
Which of the following theories says that a worker will be motivated if he or she believes that effort will lead to performance, and performance will lead to a meaningful reward
Expectancy theory
Gensys Inc, a manufacturer of medical equipment, employs 200 workers in its research labs and on the assembly line. Though assembly line workers work for more than 40 hours a week, they do not get overtime pay. Gensys is violating the ________.
Fair Labor Standards Act of 1938
Free-rein leaders hoard decision-making power for themselves, and typically issue orders without consulting their followers.
False
Just-in-time manufacturing requires the manufacturer to maintain a large inventory of goods, increasing storage costs.
False
Sales above the breakeven point will lead to a loss.
False
Staff managers supervise the functions that contribute directly to profitability, such as production and marketing.
False
The gap between the pay packages of CEOs and workers has been consistently decreasing over the past 30 years.
False
Which of the following is an example of vertical integration
Furniture manufacturer Woodridge acquires its largest lumber supplier in order to reduce costs over the long term.
In which of the following cases is a firm both outsourcing and offshoring a process
In order to decrease production costs, U.S.-based Perlman Inc. contracts with a Korean firm to produce the components for its products.
The fixed cost for a shop selling specialty ice cream sodas cost is $450,000 per year. The specific fixed cost includes the mortgage, payment on equipment, advertising, insurance, and taxes. The variable cost per ice cream soda—the cost of the ingredients and labor—is $10. If customers pay $20 per ice cream soda, the breakeven quantity is 45,000. Which of the following, if true, would result in an increase in the quantity required to break even
Increasing the variable cost from $10 to $15
_______ refers to a set of strategies and practices to eliminate waste, which is defined as any function or activity that uses resources but doesn't create value.
Lean production
________ refers to the practice of pricing a handful of items temporarily below cost to drive traffic.
Loss leader pricing
Which of the following is the best example of a "pull" system
Maggie's, a specialty bakery, prepares cakes as and when customers order them.
Which of the following is an example of affirmative action
Meta Peace Inc., a shoes manufacturer, provides job opportunities to people from the minority communities.
Which of the following is an example of a job specification for a teacher
Must have a bachelor's degree in education or three years' experience in a school.
If a manufacturing firm invests in its processes by directly investing in its own foreign facilities, it is engaging in _______.
Offshoring
Who among the following is a middle-management employee in a company
The division head.
Which of the following is an operational plan
The production department at Dallas Manufacturing draws up schedules for employees on a weekly basis.
Which of the following will require a firm to implement a contingency plan rather than an operational or strategic plan
The production department sets weekly production targets.
The management team at Unisys Inc. is considering a new policy that would give employees telecommute facilities. Which of the following, if true, would weaken this decision
The work at Unisys requires close teamwork and collaboration.
Breakeven analysis is a process that determines the number of units a firm must sell to cover all costs.
True