Intro to Business Final Exam EHS, EHS Final Exam, Business Management Final EHS, Final Intro to Business EHS, Intro to Business EHS
What are the five contributing factors to household foodborne illnesses? How can you control each?
(check study guide for table) o Inadequate cooling and cold holding temperatures o Preparing food ahead of planned service o Inadequate hot holding temperatures o Poor personal hygiene/infected persons o Inadequate reheating
To be eligible for S corporation status, a corporation must have no more than
100 shareholders.
How much more output per hour could a farmer in 2000 expect to achieve over a farmer in 1950?
12 times
In the U.S. economy, employment generated by franchised businesses grew by what percentage between 2001 and 2005?
12.6%
According to Shivam Sherman, which age group generally falls into the socialization period?
13-21
The peak of labor union involvement occurred in what year?
1954
Given the history of the U.S. stock market, one would need what percentage of the initial portfolio each year in order to continue financing their lives?
4%
According to the U.S. Small Business Administration, what percentage of businesses fail within the first four years of launching?
56%
According to the U.S. Small Business Administration, what percentage of businesses fail within the first four years of launching? 33% 75% 68% 56%
56%
John owns an emergency response non-profit of 10 employees. The service they provide is homogeneous and time-sensitive. He recognizes he must utilize speed and efficiency in making decisions across the organization. He should employ:
A centralized organizational structure
John owns an emergency response non-profit of 10 employees. The service they provide is homogeneous and time-sensitive. He recognizes he must utilize speed and efficiency in making decisions across the organization. He should employ: A divisional organizational structure A decentralized organizational structure A functional organizational structure A centralized organizational structure
A centralized organizational structure
What is the difference between a jury and a committee?
A committee will perform functions after the decision, while a jury is decision only.
What is the difference between a jury and a committee? Committees have more power over an organization. Jury's have more power over an organization. A committee will perform functions after the decision, while a jury is decision only. A jury is randomly selected while a committee is appointed.
A committee will perform functions after the decision, while a jury is decision only.
Which of the following organizations would potentially benefit from a flat hierarchy?
A consultancy partnership, with each consultant holding a specialty in a functional business area
Which of the following statements about business divisions is NOT true?
A corporation is not responsible for all its divisions
The ethical argument against international trade can best be explained as an increase in international trade leading to:
A disproportionate advantage to capital owners
Which of the following best describes the relationship between a firm and the consumer in a market economy?
A firm survives by producing goods that consumers are willing and able to buy.
A business proposal, inquiry, agreement, or professional recommendation would best be delivered via which of the following communication channels?
A letter
Which of the following statement is NOT true about increasing financial leverage?
A leveraged firm is definitely more risky than an unleveraged firm
Agile methods of software development may NOT always produce:
A market release of a product
Which of the following best defines a balance sheet?
A snapshot of a company's financial situation at a point in time
Which of the following is NOT true of a sole proprietorship?
A sole proprietor may only use his or her legal name for the business.
A quality audit can be best explained as:
A systematic examination carried out by an internal or external quality auditor
Which of the following is NOT true about cooperatives? A. Co-ops only exist in agriculture B.Consumers and business owners usually have aligned goals C.They usually have greater bargaining power D.Co-ops strive to increase profits for producer-members and lower costs for consumer-members
A. Co-ops only exist in agriculture
Which of the following is NOT true about NAFTA? A. NAFTA helps the US, but harms Mexico B.It allows agricultural goods to be tarrif-free C. More than 1/2 of tariffs on Mexican exports to the US were immediately eliminated D.It is currently the largest trade bloc in terms of GDP
A. NAFTA helps the US, but harms Mexico
The one reason MNC can be harmful for the host country is: A. They obtain strong negotiating power with local government B. They pay less than local labor rates C.They raise unemployment levels D.They often avoid taxes
A. They obtain strong negotiating power with local government
When choosing what and how to write to a target audience, an organization's first goal should be A. ensuring that readers grasp the messaging quickly and accurately. B. using specialized terms specific to the organization's industry. C.using messaging that resonates with the cultural background of the readers. D. choosing plain words over fancy ones.
A. ensuring that readers grasp the messaging quickly and accurately.
What type of companies do individuals tend to want to work for? A. ones in which ethical dilemmas are minimized B. ones which disregard environmental responsibility C. ones in which there are pressures to act in an unethical way D. ones which display no ethical track record
A. ones in which ethical dilemmas are minimized
In which of the following areas do nonprofits NOT play a role? A. stock exchanges B. the arts C. economic development D. health and wellness
A. stock exchanges*****
A measure of the benefit that an economic actor can gain from either a good or service is __________. A.economic value B.normal profit C.profit maximization D.economic profit
A.economic value*******
Effective organization promotes a high level of _______. A.efficiency B.notoriety C.profit D.specialization
A.efficiency*****
Government regulation includes controls on all of the following EXCEPT _______. A.market failures B.pollution effects C.market entries D.development approvals
A.market failures
According to economist Milton Friedman, the main purpose of a business is to_______. A.maximize profits for its owners. B.balance profit-making objectives with other ends C.spur innovation D.benefit society
A.maximize profits for its owners.* ****
To determine the tone of a letter, memo, proposal, or other business communication, the writer must consider A.the purpose of the communication. B.the wording and lettering of the communication. C.the size of the audience. D. the timing of the communication.
A.the purpose of the communication.
According to Adam Smith, the party which can produce more of a good or service than competitors while using the same amount of resources, is said to have:
Absolute advantage
What happens when an overdraft occurs and the positive balance exceeds the agreed terms?
Additional fees may be charged
Continuous deployment is a process, which: All code that is written for an application is immediately deployed into production Information is provided regarding the performance of new products in extreme settings Different versions of a product are offered to customers at the same time Version of a new product is deployed which allows a team to collect the maximum amount of learning
All code that is written for an application is immediately deployed into production
A company might put money in FDI because:
All of these answers
A promotion can be in the form of:
All of these answers
Computer fraud is when one obtains an unauthorized benefit by:
All of these answers
Computer fraud is when one obtains an unauthorized benefit by: Suppressing output Altering computer input Deleting stored data All of these answers
All of these answers
Flextime is beneficial because it leads to:
All of these answers
In order to be a successful joint venture, both parties must be equally invested in a project in terms of:
All of these answers
Suppose you are analyzing financial statements of a client. You should take into account which of the following factors?
All of these answers
Tariffs are often viewed by economists to be bad for overall welfare because:
All of these answers
The Bogor Goals adopted in 1994 called for:
All of these answers
The World bank incorporates which of these studies in fighting poverty of developing countries?
All of these answers
The information in the statement of cash flows allows people to understand:
All of these answers
The process of destroying a target's reputation through PR is called: Negative public relations Smear campaign All of these answers Dark campaign
All of these answers
The reason distributors embody economies of scale is that certain per unit costs are lower with each increasing unit. Which of the following costs are subject to this phenomenon?
All of these answers
Understanding the risks of email is important, but actually using safety precautions is crucial. Which of the following should be done before sending an email?
All of these answers
Which of the following can be used to measure the efficacy of a KM strategy?
All of these answers
Which of the following capital expenditures are capitalized?
All of these answers
Which of the following does transparency imply?
All of these answers
Which of the following is a potential effect on a victim of sexual harassment?
All of these answers
Which of the following is the goal of using CRM software?
All of these answers
While holding on to too much inventory at once can pose a loss to the company, it is important to keep inventory on hand because:
All of these answers
Which of the following statement is NOT true about increasing financial leverage? Adding leverage to a given asset always adds risk A public corporation leverages equity by borriwing more money All of these answers are true A leveraged firm is definitely more risky than an unleveraged firm
All of these answers are true
New technologies are allowing more women and young people to start businesses. This is mainly because
All of these answers.
New technologies are allowing more women and young people to start businesses. This is mainly because new developments in technologies allow for businesses to be scaleable across different regions. Correct! All of these answers. new developments in technology allow entrepreneurs to start businesses with less capital. shipping companies such as FedEx allow businesses to be replicated in different cities globally.
All of these answers.
When using humor to begin a speech, speakers should avoid doing which of the following?
All of these answers.
Which of the following is NOT included in the value a firm delivers to its customers?
All of these are part of value
To effectively pursue a given strategy, a department needs a fixed amount of inventory inputs. The phase of implementation pertaining to this is:
Allocation of resources
Which of the following is NOT a provision included in the Norris-LaGuardia Act?
Allowing for the creation of unions
Framing is effective because it:
Allows people to make decisions quicker
During an emergency with limited time and resources, which leadership style would likely be the most effective?
An autocratic leadership style.
In which of the following cases would it be most appropriate for an organization to use jargon in its corporate messaging?
An internal memo for employees
Noises in your daily life - what are the differences in exposure durations vs. where people get their noise dose?
Annual exposure time: ¥ 72% home, 16% occupational, 6% music, 4% transit, 1% non-occupational, 1% street Annual exposure dose: ¥ 47% music, 18% occupational, 16% non-occupational, 14% transit, 3% home, 2% street
Top-level managers are NOT responsible for which of the following:
Assigning employees tasks
An effective press release should include which of the following information? A. Date, time, and location of event B. All of these answers. C.Attention-grabbing language D.Background information about company
B. All of these answers.
Which of the following makes it difficult for franchisors to control the activities of franchisees? A.Franchisees may be required to buy supplies and equipment from the franchisor. B. Franchisees and franchisors are often separated by geography. C. Some franchisors have more interest in collecting fees than in investing in franchisees' success. D. Franchisees must pay fees and royalties to the franchisor.
B. Franchisees and franchisors are often separated by geography.
Economic growth is conventionally measured as the percentage rate of increase in what economic measure? A.demand B. GDP C.inflation D.deflation
B. GDP
Which of the following is a primary advantage of using transparencies in business presentations? A. Transparencies allow for colorful, attractive designs for viewers. B. Transparencies allow speakers to write while talking toward the crowd. C. Transparencies are beneficial for large audiences. D.Transparencies can be used to record audience responses.
B. Transparencies allow speakers to write while talking toward the crowd.
Which of the following is considered an example of a market stakeholder? A.customers B. all of these answers C.creditors D. suppliers
B. all of these answers*****
Melissa is in the middle of delivering a sales presentation to her company. She notices that some of the listeners look confused. Before moving on with the rest of her presentation, Melissa should A. avoid using fillers such as "um" and "uh" when delivering her next point. B. ask the audience if they understand her message before moving on to the next point. C. skim over the faces of her audience. D.smile and maintain eye contact with the audience
B. ask the audience if they understand her message before moving on to the next point.
The difference between a firm's total revenue and all costs represents ________. A. economic value B. economic profit C. normal profit D.profit maximization
B. economic profit*****
Which of the following is NOT an example of a category of economic indicator? A. earnings reports B. policy briefings C. economic summaries D. indices
B. policy briefings*****
Which of the following best describes the relationship between a firm and the consumer in a market economy?A. A firm is only able to exist in competition with other firms in B. A firm survives by producing goods that consumers are willing and able to buy. C .The market may limit the number of firms, and therefore limit consumer choice D. The market may limit the number of firms, and therefore limit consumer choice
B.A firm survives by producing goods that consumers are willing and able to buy.*****
A company might put money in FDI because: A. Cheap labor B.All of these answers C.High return D.Tax advantage
B.All of these answers
The controlling process is responsible for which of the following: A.Organizing teams to produce specific results B.Evaluating whether or not goals have been met C.Planning future goals for the company D.Leading teams in the completion of work assignments
B.Evaluating whether or not goals have been met
When we say that growth is calculated in real terms, what do we mean? A.It is adjusted for unemployment. B.It is adjusted for inflation.**** C.It is adjusted for supply. D.It is adjusted for demand.
B.It is adjusted for inflation.****
Which one of the following is NOT considered a basic principle of conceptual skills? A.Seeing the enterprise as a whole B.Motivating employees on day-to-day activities C.Understanding the relationship between the various parts of the organization D. Recognizing that changes in one part of the organization affects all the others
B.Motivating employees on day-to-day activities
Which of the following is a term that helps us to understand the difference between a conflict of interest and impropriety? A.pump and dump B.conflict of roles C.self-dealing D.outside employment
B.conflict of roles
Suppose you run the IT of a large corporation. Which network would you most likely utilize?
Backbone network
Assuming you wanted to compare earnings separately from the influence of the financial leverage to the assets of the company. Which profitability ratio would you use?
Basic earning power
Should Michigan ban hydraulic fracturing?
Be able to name one argument for and one argument against
Should indoor residual spraying of DDT still be allowed for the control of malaria?
Be able to name one argument for and one argument against
Should regulations be enacted that limit noise levels in public places like bars, restaurants, and concert venues?
Be able to name one argument for and one argument against
Should the sale of e-Cigarettes be regulated?
Be able to name one argument for and one argument against
Should urban farming be permitted in heavily industrialized cities like Detroit?
Be able to name one argument for and one argument against
Should we build more nuclear power plants to decrease our dependence on fossil fuels?
Be able to name one argument for and one argument against
Should we use genetically modified mosquitoes to control vector-borne disease?
Be able to name one argument for and one argument against
Should we use geoengineering approaches to try to reverse the effects of human-induced climate change?
Be able to name one argument for and one argument against
An interview during which the interviewer asks the applicant to reflect on past experiences is referred to which of the following:
Behavioral interview
The triple top-line value production includes all of the following EXCEPT:
Better quality products
Files that are readable by a computer and not a human are called:
Binary
HRD as a process focuses on:
Both TD and OD equally
HRD as a process focuses on: Training and development (TD) None of these answers Both TD and OD equally Organization development (OD)
Both TD and OD equally
What is the cheapest method of word of mouth promotion?
Brand advocates
What is the cheapest method of word of mouth promotion? Viral marketing All of these answers Influencer marketing Brand advocates
Brand advocates
A brand's action perceived by a person is called:
Brand experience
The benefits of employing a wholesale broker include all of the following, EXCEPT:
Brokers take title to the merchandise being marketed
Inventory management is needed to address the following concerns, EXCEPT: Quality management Carrying costs of inventory Defective goods Budget surplus
Budget surplus
The theory of competitive advantage can best be explained as suggesting that:
Businesses create high-quality goods to sell at high prices in the market
Suppose Apple builds a plant in Taiwan and and agrees to take 30% of the plant's output as partial payment for the contract. This is called:
Buyback
Suppose the management at Hilton hotels was using profit optimization to better address the needs of market segments. In particular, they were focused on how to optimize the booking of a floor of hotel rooms. This level is called:
By group of goods
How is a stakeholder different than a shareholder? A. A shareholder is an owner or an employee of the company, whereas a stakeholder is any individual or group with an interest in the company's operations and / or output. B. A shareholder is an owner of the company, whereas a stakeholder is an employee of the company. C. A shareholder is an owner of the company, whereas a stakeholder is any individual or group with an interest in the company's operations and / or output. D. A shareholder is an employee of the company, whereas a stakeholder is an owner of the company.
C. A shareholder is an owner of the company, whereas a stakeholder is any individual or group with an interest in the company's operations and / or output.*****
Which of the following is NOT true of a sole proprietorship? A. More than 75% of all U.S. businesses are sole proprietorships. B. Every asset of the business is owned by the proprietor, and all debts of the business are the proprietor's. C. A sole proprietor may only use his or her legal name for the business. D. The individual entrepreneur owns the business and is fully responsible for all its debt
C. A sole proprietor may only use his or her legal name for the business.
The theory of competitive advantage can best be explained as suggesting that: A. Businesses create low-quality goods to sell at high prices in the market B. Businesses create low-quality goods to sell at low prices in the market C. Businesses create high-quality goods to sell at high prices in the market D.Countries should specialize in exporting primary goods and raw materials
C. Businesses create high-quality goods to sell at high prices in the market
Which of the following is NOT a benefit of contract manufacturing? A. Saving money on capital costs B. Potential for economies of s C. Complete control of production D. Taking advantage of the CM's skills
C. Complete control of production
Customer Experience Management (CEM) , as opposed to Customer Relationship Management (CRM), focuses on which of the following: A. Price B. Enterprise process C. Customer needs D. Product
C. Customer needs
Which approach to calculating GDP involves summing the outputs of every class of enterprise? A. the product approach B. the expenditure approach C. the income approach D. none of these answers
C. the income approach
What technological development has allowed individuals to meet "face-to-face" over the Internet and have discussions related to a project they are working on together? A. automation B."open" movements C. videoconferencing D. information technology
C. videoconferencing
When considering a merger and acquisition, businesses must consider which of the following factors? A.Increased willingness to pay B.Shared activities C.All of these answers. D. Economies of scale
C.All of these answers.
Complete the following sentence. Tariffs, as they relate to global trade, are: A. A complete ban of imports B.Limits on exports C.Taxes on imports D.Political weapons
C.Taxes on imports
What type of unemployment occurs during the time period between jobs when a worker is searching for or transitioning from one job to another? A.cyclical B.structural C.frictional D.ideal
C.frictional
IT is changing the basis of business from labor and manual skills to _________. A.social media expertise B.global collaboration C.knowledge management D.knowledge of videoconferencing
C.knowledge management* ****
Which of the following is a situation in which a stockbroker who owns a security artificially inflates its price by "upgrading" it or spreading rumors, sells the security and adds a short position, then "downgrades" it or spreads negative rumors to push its price down? A.self-dealing B.short selling C.pump and dump D.insider trading
C.pump and dump
Which of Andrew Carnegie's business principles advocates that the rich hold their money "in trust" for the rest of society, using it for any purpose society deems appropriate? A. ethical decision-making B.charity C.stewardship D.social responsibility
C.stewardship
Newspaper vending machines pose a risk because they:
Can easily be manipulated
Very small companies tend to have limited operational scope and a need for adaptability and speed in the decision making process. Which decision making strategy would fit these types of business best, from a general perspective?
Centralized
Psychographic segmentation can be best defined as: Classifying consumers on the basis of individual lifestyles Classifying consumers by variables of climate, region, and population density Classifying consumers on the basis of age Classifying consumers by variables as attitudes toward the product
Classifying consumers by variables of climate, region, and population density
Psychographic segmentation can be best defined as:
Classifying consumers on the basis of individual lifestyles
Which of the following is NOT true about cooperatives?
Co-ops only exist in agriculture
Air emissions from power plants primarily come from what type of power plants?
Coal-fired power plants
Which of the following is NOT a benefit of contract manufacturing?
Complete control of production
Which of the following statement best describes the technological implications of consumerization?
Computing now needs lower cost, greater scale commodity servers
Which of the following is NOT a benefit from direct selling?
Controlled marketing campaign
What type of financial manager usually oversees accounting and the budget department?
Controllers
Of the key functions discussed, which is primarily concerned with persuading individuals to step outside of their own personal biases and adopt a new perspective?
Convincing
Individuals are empowered by holding skill sets that are needed by others in the company. Which of the following is a good way to increase empowerment through specialization?
Create autonomy through boundaries, and ensure open communication
Customer Experience Management (CEM) , as opposed to Customer Relationship Management (CRM), focuses on which of the following:
Customer needs
Under what circumstance can corporations legally evade double taxation? A. In some systems, dividends are taxed at a lower rate B.S corporations C The recipient of the dividend is entitled to a tax credit in some countries D. All of these answers
D. All of these answers
Low-level managers are NOT responsible for which of the following: A.Supervising employees on day-to-day activities B.Upchanneling employee problems C.Providing performance feedback D. Designing and implementing reward system
D. Designing and implementing reward system
Which of the following would most likely cause unethical behavior? A.an employee using his or her own judgement B.a manual that is unconcerned about real ethical dilemmas C. a seminar regarding business conduct D. a competitive business environment
D. a competitive business environment
According to Adam Smith, the party which can produce more of a good or service than competitors while using the same amount of resources, is said to have: A. Balance of trade B. No trade C. Comparative advantage D.Absolute advantage
D.Absolute advantage
The term balance of trade incorporates the measure of which of the following? A. Imports B. Currency C. Exports D.Imports and Exports
D.Imports and Exports
What is a short-term and quite rare occurrence in one's business experience? A.the need to survive B.a philosophical idea of the mind C.an ideal ethical action D.an ethical lapse
D.an ethical lapse
If the presentation is more formal, the speaker should open his or her speech with a(n) A. statistic. B. personal story. C. joke. D.overview.
D.overview.
Stakeholder theorists believe that______. A. a business is essentially someone's property, and, as such, that its owners have the right to dispose of it as they see fit B. the enterprise being run by employees and managers as a kind of representative democracy C. business can be viewed to exist for the purpose of creative expansion D.people outside of the business enterprise (e.g., consumers) ought to have a say in how the business operates
D.people outside of the business enterprise (e.g., consumers) ought to have a say in how the business operates****
Which of the following is NOT a component of GDP by expenditure? A.consumption B.government spending C. exports D.per capita income
D.per capita income *****
What belief has driven customers, businesses, home buyers, and the U.S. government itself to rely increasingly on debt? A. that personal income would continue to increase B. that tax dollars would continue to increase C. that there would be a low risk of bankruptcy D.that the value of their investments would continue to grow
D.that the value of their investments would continue to grow****
The process of dispersing decision-making governance closer to the people, citizens, employees, or other elements of the organization or sector fits the definition of which of the following?
Decentralization
Before deciding on using the sampling technique for new product introduction, marketers should:
Define the objectives of the sampling program
Before deciding on using the sampling technique for new product introduction, marketers should: Define the objectives of the sampling program Follow trends in their industry Sell the product in "trial size" containers Offer free samples through websites
Define the objectives of the sampling program
Assuming you own a small business with a low budget for advertising. What type of agency might you employ?
Design-only agency
Assuming you own a small business with a low budget for advertising. What type of agency might you employ? Full-service agency Creative agencies Design-only agency Specialization agency
Design-only agency
The first step of efficient warehouse management is:
Designing the container of a product
A wage payment system in which more efficient workers receive higher rewards is called:
Differential piece work system
Which of the following occurs when productivity decreases and production volume increases, or vice versa?
Diminishing returns
Which type of store retailer saw a strong increase in popularity post World War II due to the growth of suburbs?
Discount houses
Which of the following is NOT a reason for passing the Equal Pay Act of 1963?
Discrimination is not morally right
The original NLRA defined five unfair labor practices. Which one of the following is NOT one of those stated practices?
Discrimination of wages with regard to gender and race
In answering questions of shipping, delivery, and transport, supply chain management is addressing what type of problem?
Distribution strategy
Which stock performance ratio is the fraction of net income a firm pays to its stockholders in dividends?
Dividend payout ratio
Which organizational structure is best utilized by large companies in pursuit of scope economies?
Divisional
Which organizational structure is best utilized by large companies in pursuit of scope economies? Functional Bureaucratic Matrix Divisional
Divisional
The process of an order being passed to the manufacturer and then shipped directly to the consumer is called:
Drop shipping
Which of the following is NOT a characteristic of non-store retailers?
E-commerce is a shrinking channel of retail
Which of the following in NOT an aspect of brand management?
Each company uses one ad agency for all products
What is unique about an annuity loan repayment structure?
Each installment is the same amount
Which type of organizational structure faces strong competition and has high levels of employee accountability?
Ecology
Which model of collective bargaining explains the union and the firm as bargaining over hours of work?
Efficient bargaining model
Equity theory implies that:
Employees are able to adjust for purchasing power and local market conditions
Which of the following is NOT an implication of Herzberg's theory?
Employees are highly self-motivated
Which of the following is NOT required by ERISA?
Employers establishing pension plans
Which of the following is NOT required by ERISA? Participants have the right to sue for benefits Employer plans to provide participants with plan information Employers establishing pension plans Employers establishing a grievance and appeals process
Employers establishing pension plans
The controlling process is responsible for which of the following:
Evaluating whether or not goals have been met
Which of the following is a disadvantage to employing job enrichment techniques?
Expectations of greater levels of pay
Utilizing one's abilities and skills to create influence and power is best defined by which source of power?
Expert Power.
One of the best ways to help employees tolerate drug-testing is to:
Explain its importance in regard to safety
Assuming the US is efficient in growing corn and therefore sells is to other countries. We call this:
Exporting
Google is ranked number 1 in the Fortune 100 Best Companies to Work for probably because of:
Extensive benefits
Entrepreneurs can increase their odds of success by avoiding which of the following drawbacks when starting a small business?
Failing to set aside cash reserves that can be used during economic downturns
According to Nagle and Holden, buyers are more sensitive to the price of a product when the price is outside what they deem to be acceptable. This effect is called:
Fairness effect
Which one of the following industries is most likely to have the highest attrition rate?
Fast food
A grocery store manager ensures all functioning of the front end and produce department are executed properly. This type of manager is considered which level?
First-level managers
A grocery store manager ensures all functioning of the front end and produce department are executed properly. This type of manager is considered which level? First-level managers Top-level managers Low-level managers Middle-level managers
First-level managers
Assuming you only had figures for net sales and net fixed assets on hand. Which activity ratio would you use if you wanted to measure a firm's efficiency?
Fixed asset turnover
There area variety of methods to alleviate friction in the adaptation process. Which is defined as collecting quality data from different departments through sharing opinions and experiences?
Focus groups
There area variety of methods to alleviate friction in the adaptation process. Which is defined as collecting quality data from different departments through sharing opinions and experiences? Strategy meetings Focus groups Step-by-step approach Training
Focus groups
Laissez-Faire leadership should NOT be used when:
Followers feel insecure at the unavailability of a leader
Which of the following makes it difficult for franchisors to control the activities of franchisees?
Franchisees and franchisors are often separated by geography.
Economic growth is conventionally measured as the percentage rate of increase in what economic measure?
GDP
Which of the following long term loans is considered to be the least risky?
Government debt
What is it called when a product or brand is embedded in entertainment?
Guerrilla advertising
What is it called when a product or brand is embedded in entertainment? Mobile advertising TV commercial Guerrilla advertising Radio advertising
Guerrilla advertising
In regards to assimilating a large workforce, a number of critical issues arise. Which of the following are NOT identified as barriers to diversity?
Hegemony
Which of the following is NOT an action of a labor union?
Helping individuals get hired
All of the following are advantages of commercial paper, EXCEPT:
High credit limit
All of the following are advantages of commercial paper, EXCEPT: High credit limit Liquidity options Low borrowing cost Term flexibility
High credit limit
Given the recent research, an employee who switches to low-intensity telecommuting can expect:
Higher job satisfaction
Suppose the employees of a manufacturing company went on strike. Assuming that the company policy is not to negotiate with strikers, the company would most likely:
Hire replacement workers
Which of the three strategic questions best illustrates the need for competitive advantage?
How do we excel?
The process of progressing an initial idea from birth to maturation can best be classified as:
Idea genesis
Which of the following is NOT an educated risk regularly taken by good managers?
Ignoring customer needs for the benefit of the business
How does a country improve its welfare through imports?
Importing high quality goods at a lower cost
The main advantage for employers in offering employee benefits is:
Improve worker retention
The most important basis for creating a competitive advantages is to:
Increase value
Which of the following situations would be exempt from FLSA protections?
Independent contractor
Automating the processing of large information and simplifying access to it, is referred to as:
Information access
Automating the processing of large information and simplifying access to it, is referred to as: Information seeking Information architecture Information management Information access
Information access
Which one of the following is a characteristic of the service sector?
Intangible products
Which one of the following is a characteristic of the service sector? Intangible products Tangible products Standardized products Little customer contact
Intangible products
The reasoning behind the creation of the Euro can best be explains as a means to:
Integrate the European countries
According to Zaccoro in 2004, which of the following characteristics would likely not be correlated with leadership skills?
Introversion
Initial product testing differs from test marketing because product testing:
Is initiated by the producer
A Theory Y manager would NOT assume that the average person:
Is self-centered
A corporation can be forced to shut down by the government if:
It breaks the law
Which of the following is NOT true about the indirect method?
It converts each item on the income statement to a cash basis
If a company is not a pioneer what type of growth strategy should it consider?
It depends on the firm and industry
If a company is not a pioneer what type of growth strategy should it consider? Intensification It depends on the firm and industry Vertical integration Horizontal integration
It depends on the firm and industry
What is the most effective medium of promotion?
It depends on the product
What is the most effective medium of promotion? Special events It depends on the product Endorsements Social media
It depends on the product
The Civil Rights Act of 1964 was important because:
It ended racial discrimination for voting
Which of the following best characterizes the last 80 years of Taylorism?
It has become obsolete as a theory but parts of it are still relevant
Which of the following best characterizes the last 80 years of Taylorism? It is gaining in popularity in recent years Taylorism lost its appeal in the 1920s but has since been rising in use It has become obsolete as a theory but parts of it are still relevant It has become completely obsolete and has not been used since the 1930s
It has become obsolete as a theory but parts of it are still relevant
When we say that growth is calculated in real terms, what do we mean?
It is adjusted for inflation.
Which of the following is NOT true about the staffing function?
It is an intermittent process
Which of the following is NOT true about revenue?
It is excluded from the income statement
Market share is a beneficial metric of evaluating the success of a business because:
It is less dependent upon macro-environmental variables
Which of the following is NOT a characteristic of the commercialization stage?
It is the penultimate stage of new product development
Having a formalized sales process is important because:
It mitigates risk for both buyer and seller
Having a formalized sales process is important because: It mitigates risk for both buyer and seller There is certainty in the buyers' specific needs Economies of scale Every sale is exactly the same
It mitigates risk for both buyer and seller
In comparing pull vs. push marketing, push marketing is better because:
It reaches a wider range of consumers
In comparing pull vs. push marketing, push marketing is better because: Push marketing is never better The consumers receiving it are already interested It reaches a wider range of consumers There are no ethical issues
It reaches a wider range of consumers
Which of the following is NOT true about income statements?
It represents a single moment in time
Which of the following is NOT a feature of capacity planning?
It requires a significant capital input
Niche marketing is fundamentally different than most other forms of advertising because:
It targets a specific group
Which of the following is the most important factor in determining location of a facility?
It varies for each facility
To be considered running at peak efficiency, the material handling system should be set up so that:
Items are touched the least amount possible
The NLRA was criticized by employers for:
Its expansive definition of employee
A method to discover the differences and similarities among jobs is called:
Job analysis
All of the following are benefits of a retail kiosk, EXCEPT:
Large inventory
Why are payday loans offered by check-cashing establishments risky for long term cash needs?
Lendees run the risk of getting into a cycle of debt by taking out multiple high-interest loans.
Among the various approaches to profession development, one approach calls for solving practical dilemmas relating to instruction through participation with other professionals in examining practice. This approach is called:
Lesson study
Among the various approaches to profession development, one approach calls for solving practical dilemmas relating to instruction through participation with other professionals in examining practice. This approach is called: Consultation Case study Mentoring Lesson study
Lesson study
Which of the following is NOT a characteristic of cash and cash equivalents?
Long-term
Which one of the following best explains the effect of productivity improving technologies?
Lowering factors of production that go into the production of economic output
The advantages of cross-training employees include all of the following, EXCEPT:
Lowers cost per employee
What two forms of strategy does a strategic alliance lie between?
M&A and organic growth
The most acceptable and liquid measure of the money supply is typically classified as M1. MB. M2. M0.
MB.
How do management information systems (MIS) relate to decision making?
MIS combine informational technology, people and data to help effective decision making
How do management information systems (MIS) relate to decision making? All of these answers MIS combine informational technology, people and data to help effective decision making Companies use MIS for supply chain manage MIS sets forth the decision making process
MIS combine informational technology, people and data to help effective decision making
Which of the following is NOT necessarily a result of planning?
Making a decision quickly
Which of the following traits was NOT found to be related to leadership?
Manipulation
Logistics management encompasses all of the following EXCEPT:
Manufacturing
Logistics management encompasses all of the following EXCEPT: Warehousing Security Integration of information Manufacturing
Manufacturing
What is the main goal of corporate finance?
Maximize shareholder value
What is the main goal of corporate finance? Build company profit Maximize shareholder value Balance assets and liabilities Ensure proper financial methods are used
Maximize shareholder value
Which of the following is NOT a federal agency the enforces the ADA?
Mine Safety and Health Administration
Which of the following is NOT a federal agency the enforces the ADA? The Equal Employment Opportunity Commission The Department of Justice Mine Safety and Health Administration The Department of Transportation
Mine Safety and Health Administration
The "version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort" is the :
Minimum viable product
White male privilege is most prevalent in which type of organization? Multicultural Monolithic Plural All of these answers
Monolithic
Job sharing is good for people who want: Complete autonomy All of these answers More free time More hours of work
More free time
B2C e-commerce is more attractive than installing a "brick-and-mortar" for all of the following reasons, EXCEPT:
More initial investment
Which of the following is NOT a characteristic of cost-plus pricing?
Most profitable
Which one of the following is NOT considered a basic principle of conceptual skills?
Motivating employees on day-to-day activities
Which of the following is NOT a step in the decision making process?
Multiple decisions are made, executed and then evaluated
Which of the following is NOT true about NAFTA?
NAFTA helps the US, but harms Mexico
How is the knowledge base expressed in expert system technology?
Natural language rules
Which of the following is NOT true regarding the legal aspects of nonprofit organizations?
Non-for-profit organizations are not required to have board members or steering committee members.
The typical punishment for false advertising is:
None. The goal is to prevent, not punish.
Tom is a marketer, working for a business that requires an extremely high degree of participation across many different job functions. Which work space structure would be ideal for his group?
Open office
The intercultural approach is defined as a combination of three critical attributes, which allow an individual/manager to optimize intercultural communication. Which of the following is NOT one of these attributes?
Open-mindedness
Which of the following is NOT a step in outsourcing?
Opening a new plant in a foreign country
Suppose your role at an insurance firm is to enlist 100 individuals per year in health insurance. You would most likely be classified as a(n):
Order-getter
Suppose your role at an insurance firm is to enlist 100 individuals per year in health insurance. You would most likely be classified as a(n): Order-creator Order-getter Marketer Order-taker
Order-getter
Leadership studies, due to their intangible nature and extremely high levels of importance to success, have seen a large number of theories and studies. How many definitions for leadership were put forward in the 20th century?
Over 200
What is one of the potential results of enabling risk?
Overspending
What is one of the potential results of enabling risk? All of these answers Improved competitiveness Overspending Underspending
Overspending
When a lender provides a short-term unsecured loan to be repaid at the borrower's next pay day, it is called:
Payday loan
Which of the following cash inflows is considered to be an investing cash flow?
Payments of M&A
Suppose a company brought a new product to market with price-sensitive customers, low barriers to entry, and the probability of rapid acceptance by potential buyers. Which pricing strategy would this company likely employ?
Penetration
Monitoring customer satisfaction is most important in what type of market?
Perfect competition
Monitoring customer satisfaction is most important in what type of market? Oligopoly Monopoly Monopolistic competition Perfect competition
Perfect competition
Successful small business owners often need a high level of _______, due to the high likelihood of drawbacks and failure.
Perseverance
Successful small business owners often need a high level of _______, due to the high likelihood of drawbacks and failure. Social skills Capital Autonomy Perseverance
Perseverance
What are persistent and non-persistent pesticides?
Persistent ¥ Persist in environment and in biologic systems ¥ Accumulate up the food chain ¥ DDT, chlordane, etc. ¥ Banned for most uses in US, still widely used elsewhere ¥ Effects on wildlife and non-target species ¥ Concern for human health effects Non persistent ¥ Do not persist in environment or in biologic systems ¥ However, studies show they may persist for several years in indoor environments ¥ Most common types used today: organophosphorus, carbamate, pyrethroid
The correct order of Maslow's hierarchy is: (bottom of pyramid to top)
Physiological, Safety, Interpersonal, Esteem, Self-Actualization
Forward scheduling can be best explained as:
Planning tasks from when resources become available to determine due date
Forward scheduling can be best explained as: Planning many tasks months ahead of time to ensure adequate preparation Planning tasks from when resources become available to determine due date Planning tasks from the due date or required-by date to determine start date Planning for multiple steps in the production price ahead of time
Planning tasks from when resources become available to determine due date
As globalization continues to demand higher levels of exchange, outsourcing and long-distance trade, what risks are exaceberated?
Political instabilities
Which of the external environment theories describe factors in the context of an industry's competitive dynamics?
Porter's Five Forces
The four P's of marketing are:
Price, Product, Place, Promotion
Which of the following is NOT an example of a promotion?
Pricing at a premium
Which channel would most likely be used for an office stapler?
Producer to industrial distributor to industrial user
Most factories would likely use which type of facility layout?
Product layout
The marketing role that identifies customers' needs, and develops new products is called:
Product planning development
The marketing role that identifies customers' needs, and develops new products is called: Customer support services Product planning development Promotion Marketing planning
Product planning development
Which of the following job functions would fit BEST to a telecommuting lifestyle?
Programmer
According to most sales theory, salespeople are taught to view targets as:
Prospective customers
According to most sales theory, salespeople are taught to view targets as: Unknowledgable Strangers Well-prepared Prospective customers
Prospective customers
Newspaper and magazine articles/reports, TVs and radio presentations are all examples of what type of promotion?
Public relations
Newspaper and magazine articles/reports, TVs and radio presentations are all examples of what type of promotion? Public relations Corporate image Sales promotion Advertising
Public relations
What is the most important source of ionizing radiation for the average American?
Radon (second leading cause of lung cancer)
Which one of the three forms of marketing has been most changed due to technology?
Relationship marketing
The Franchisee Payments portion of a franchise agreement typically covers which of the following?
Renewal and transfer fees
If there is a lack of coordination, what may be a critical risk factor?
Responsibility will be dispersed
Which consumer right implies that products should cause no harm to their users if they are used as prescribed?
Right to Safety
Which of the following characteristics is NOT conducive with entrepreneurial drive?
Risk aversity
Which of the following characteristics is NOT conducive with entrepreneurial drive? Passion Risk aversity Self-discipline Vision.
Risk aversity
Generally speaking, organizations tend to see which characteristic decline over time (as observed by organizational ecologists)?
Risk of mortality
Assuming you were the CEO of a company with 72 shareholders, offering only common stock. This company would likely fall under which of the four categories of corporations?
S corporation
Which one of the following differentiates between the scope of Meta-Leadership (ML) and Social Business Design (SBD)?
SBD focuses on value exchange among constituents of an organization, while ML links different organizations or organizational units
Which of the following is NOT a result of technological change in supply chain optimization (SCO)? SCO now incorporates computer-based mathematical modeling techniques SCO now forecast at a granular level SCO now focuses on delivering products to customers at low cost and high profit SCO vendors now run the software on behalf of clients as service providers
SCO now focuses on delivering products to customers at low cost and high profit
Which one of the following is NOT one of the eight principles for the quality management system standard?
Savings approach
The biggest waste of effort and money in new product development is:
Screening out a worthwhile idea
Suppose you are a loan officer with a conservative approach to lending. What is the safest type of loan to give? Secured/senior debt Secured/subordinated debt Unsecured/subordinated debt Unsecured/senior debt
Secured/senior debt
Travel expenses for sales force would be placed under what category of the income statement?
Selling expenses
Starbucks is at constant risk due to the fluctuating prices of coffee beans. They could offset this risk through:
Setting high prices
When a few suppliers' credentials and history are analyzed with the purpose of selecting one, it is called:
Shopping
When a few suppliers' credentials and history are analyzed with the purpose of selecting one, it is called: Blanketing Shopping Mastering Buying
Shopping
Which of the following is NOT an advantage of person to person lending?
Simple compliance to legal regulations
Which of the following is considered one of the top 10 countries with the least risky credit ratings based on sovereign default risk?
Singapore
Which of the planning processes below is described as evaluating the current environment, identifying goals and objecitves and mapping out an ideal route to achieving these objectives?
Situation-Target-Proposal
Elton Mayo's biggest discovery was that work performance is also dependent on:
Social issues
Which of the following methods of promotions has the most potential for good and for harm?
Social media
Which of the following methods of promotions has the most potential for good and for harm? Newspapers E-books Websites Social media
Social media
The software development model that calls for risk management at regular stages in the development cycle is known as:
Spiral model
Programs specifically designed to monitor users' web browsing is called:
Spyware
Programs specifically designed to monitor users' web browsing is called: Worms Adware Spyware Viruses
Spyware
A person or organization with a legitimate interest in a given situation, action, or enterprise.
Stakeholder
Suppose a car company has achieved a level of branding so that a consumer associates the brand with phenomenal steering control . This is an example of:
Strategic awareness
Which two SWOT factors are intrinsically internal in nature?
Strengths and Weaknesses
Which of the following is currently the dominant topic of discussion among supply professionals?
Sustainability
What is sustainability? Sustainable development?
Sustainability: the ability to continue a defined behavior indefinitely ♣ Social, economic, and environmental factors ♣ To be bearable, equitable, and viable—is it healthy, affordable, and fair?
Communication-based distractions based upon grammatical errors are best defined as:
Syntactical noise
Understanding how different aspects of the organization combine to form a cohesive whole is best described as:
Systems thinking
Complete the following sentence. Tariffs, as they relate to global trade, are:
Taxes on imports
Under which management style does a manager help members of a team work together to solve problems, and the entire team receives the reward of meeting those goals?
Team Management
Even with the Landrun-Griffin act in place, corruption in Unions exist because:
The Department of Labor fails to pursue action
Cost of goods sold is recognized when:
The asset is given to the customer
Which of the following is an example of impartial language?
The award-winning author is noted for being the recipient of the Nobel Prize for Literature.
Analyzing which financial statement will tell you about the financial health of a firm?
The balance sheet
Which of the following is NOT a characteristic of a marketing channel?
The channel institutions are solely under the control of the producer
What happens if the borrower defaults on paying back a secured loan, and the sale of the collateral is not enough to pay back the remainder of the loan?
The creditor obtains a deficiency judgement
Accounting information gained wide popularity due to:
The development of joint sock companies
Which of the following would be considered an intrinsic feature of the brand BMW?
The driving performance
The idea of synergy defines the team-based structure. What is meant by synergistic efforts?
The end product exceeds the sum of it's parts
Assume you are doing a liquidity test of a client before lending the client firm money. You realize that the quick ratio is .45. This indicates that:
The firm may not be able to meet current obligations
Which one of the following best explains the relationship between the marketing concept and market concept?
The market concept is used to fulfill the goals of the marketing concept
Which one of the following best explains the relationship between the marketing concept and market concept? The marketing concept is a different strategy to marketing than is the market concept They are exactly the same The marketing concept is used to fulfill the goals of the market concept The market concept is used to fulfill the goals of the marketing concept
The market concept is used to fulfill the goals of the marketing concept
An employee would exercise their stock options if:
The market price is higher than the call price
The FLSA does NOT regulate which of the following:
The number of hours employees 16 years or older may work in any workweek
According to Elton Mayo, the lesson from the Relay Assembly experiments was:
The power of teams
According to Elton Mayo, the lesson from the Relay Assembly experiments was: The importance of monitoring No conclusive lesson The effect of special treatment The power of teams
The power of teams
Media relations can best be explained as:
The relationship that a company or organization develops with journalists
Media relations can best be explained as: The relationship between an organization and the public The same as public relations Finding, attracting and winning clients The relationship that a company or organization develops with journalists
The relationship that a company or organization develops with journalists
The key difference between Maslow's theory and Herzberg's theory is:
The role that unsatisfied needs play in demotivation
A potential downside for sellers of technological change in B2B e-commerce is:
The seller cannot easily charge at a premium due to transparency
The use of positive punishment by board-certified behavior analysts is only allowed if:
There is a danger to the person or to others
A worker cooperative is unique in that:
There is no outside owner of the cooperative
According to the Federal Debt Collection Procedure Act, what are the possible ramifications for an individual who has received a judgment lien due to an unpaid debt to the United States?
They become ineligible to receive a government grant.
The process of the invoice being received by the purchaser, then matched to the packing slip and ultimately paid is referred to as:
Three-way match
The main role of distributors is:
To bridge the gap between buyer and seller
Which of the following best describes when the passive voice should be used in business writing?
To hide the identity of the subject or person
Metaphor is a rhetorical device best used for which of the following?
To link one idea to an existing idea
Which of the following is NOT a purpose of financial accounting?
To organize information for management
Which one of these management styles rewards only the manager for the completion of a team project?
Traditional Management
Which of the following is a primary advantage of using transparencies in business presentations?
Transparencies allow speakers to write while talking toward the crowd.
What is the main argument given by defenders of high executive pay?
US executive have more options than in other countries
In which of the following situations is it NOT legal to take "secondary action?"
US non-farm laborers
In which of the following sectors has there been a rise in labor unions membership?
US public sector
Which working document lists the balances from all accounts in the ledger?
Unadjusted trial balance
Which of the following is NOT an example of supply chain sustainability?
Using a more than necessary amount of resources
The pursuit of the greatest utility for the largest number of people.
Utilitarian
Which of the following is an example of external financing?
Venture capital investing
Which of the following is an example of external financing? Joint utilization Sweat equity Owner financing Venture capital investing
Venture capital investing
Which demographic has seen a great deal of recent growth in entrepreneurial areas?
Women
A worker strike in which workers perform their tasks as is but no better is called a:
Work-to-rule
Which one of the following is NOT an example of a Total Quality Management (TQM) practice?
Working harder
Which of the following occurs when real GDP declines and unemployment rises?
a contraction
Which of the following would NOT be an associated negative faced by a business that is focused on cheating the customer?
a desirable reputation in the community
A statistic that reports the status of the economy a few months in the past is known as what?
a lagging indicator
The 2008 credit crunch was mainly brought on due to
a reduction in the availability of credit independent of a rise in official interest rates.
Which of the following is not an area in which goals affect outcomes? effort persistence choice affection
affection
Which of the following is not an area in which goals affect outcomes? persistence effort affection choice
affection
What is social responsibility?
all of these answers
What is a short-term and quite rare occurrence in one's business experience?
an ethical lapse
Small businesses often face a variety of problems related to their size because they
are often vulnerable to undercapitalization.
Melissa is in the middle of delivering a sales presentation to her company. She notices that some of the listeners look confused. Before moving on with the rest of her presentation, Melissa should
ask the audience if they understand her message before moving on to the next point.
What term has been used by some as a synonym for competitive markets, wage labor, capital accumulation, voluntary exchange, and personal finance?
capitalism
What is the process in which a government dictates which goods or services are produced, how they are produced, and who will receive them?
central planning
The amount of franchise or capital values tax limited liability companies must pay is based on
company revenues.
What attempts to deal with the potential of mergers and acquisitions to lead to market dominance?
competition law
Money functions as a "unit of account" because it is
considered a "measure" or "standard" of relative worth and deferred payment.
Money functions as a "unit of account" because it is considered legal tender that functions for the discharge of debts. considered a unit of value that remains stable over time. usable as a medium when it is saved, stored, and retrieved. considered a "measure" or "standard" of relative worth and deferred payment.
considered a "measure" or "standard" of relative worth and deferred payment.
The question and answer (Q&A) format is most successful in business writing when it employs a
conversational tone.
In response to economic conditions, employment in small businesses
declines when the economy is doing well and increases when the economy struggles.
In response to economic conditions, employment in small businesses A. increases when the economy is doing well and decreases when the economy struggles. B.remains flat when the economy is doing well, but increases when the economy struggles. C. declines when the economy is doing well and increases when the economy struggles. D. increases when the economy is doing well, but remains flat when the economy struggles.
declines when the economy is doing well and increases when the economy struggles.
What is the process managers use to transfer authority and responsibility to positions below them?
delegation
An extemporaneous speech sounds spontaneous because the presenter is
delivering the speech from a prepared outline.
Which is the following is NOT an acceptable use of surplus revenues generated by a non-profit?
distribution to shareholders
In the U.S., what has spurred a freewheeling expansion of new types of investments that helped fuel a vast increase in international finance and commerce?
economic deregulation
The difference between a firm's total revenue and all costs represents ________.
economic profit
A measure of the benefit that an economic actor can gain from either a good or service is __________.
economic value
Effective organization promotes a high level of _______.
efficiency
Which of the following would NOT be considered an external stakeholder?
employees
The Deposit Insurance Fund was created in 2006 primarily to
ensure the amount each institution is assessed is based on the balance of insured deposits and degree of risk the institution poses to the insurance fund.
The Deposit Insurance Fund was created in 2006 primarily to prevent market participants from buying and selling funds in order to profit from the differences in price. enforce two different prices for government-mandated deposit insurance. ensure the amount each institution is assessed is based on the balance of insured deposits and degree of risk the institution poses to the insurance fund. prevent another savings and loans crisis similar to the one during the 1980s.
ensure the amount each institution is assessed is based on the balance of insured deposits and degree of risk the institution poses to the insurance fund.
When choosing what and how to write to a target audience, an organization's first goal should be
ensuring that readers grasp the messaging quickly and accurately.
If the Federal Reserve decreases the required reserve ratio, this action will
expand bank credit and deposit levels.
The Federal Reserve has the statutory authority to take formal enforcement actions against all of the following EXCEPT
foreign banking organizations operating outside the U.S.
The Federal Reserve has the statutory authority to take formal enforcement actions against all of the following EXCEPT officers, directors, and employees. foreign banking organizations operating outside the U.S. nonbank subsidiaries of bank holding companies. foreign banking organizations operating in the U.S.
foreign banking organizations operating outside the U.S.
Sherron Watkins became known as the 'Enron Whistleblower' after informing the CEO of Enron about bad accounting practices. This is an example of:
fraud.
Which of the following is NOT one of the pillars of democratic capitalism?
government regulation
A private or public corporate entity in which an existing government owns a stake through a holding company is referred to as a
government-linked company.
Under the Fed's seasonal credit program, loans are extended to depository institutions that
have recurring intra-year fluctuations in funding needs.
The purpose of a decision tree is to assist in identifying which strategic direction constitutes the ________.
highest utility.
One of the factors driving home-based franchising is that
home-based franchisees with little financial resources can use their home as their business space.
A company operating on a global level with a high degree of similarity throughout the organization may struggle with ________, or the tendency of individuals to associate with those similar to themselves.
homophily
A direct bank provides financial services via all of the following EXCEPT
in-person bank representatives.
A direct bank provides financial services via all of the following EXCEPT in-person bank representatives. mobile banking. ATMs. telephone banking.
in-person bank representatives.
The National Credit Union Share Insurance Fund was created by Congress in 1970 to
insure member's deposits in federally insured credit unions.
Which of the following can be thought of as the fairness that can be promoted by providing explanations for decisions and delivering news with sensitivity and respect?
interactional justice
Heuristics could best be defined as making a quick decision based upon:
intuition
A goal is important because:
it establishes a specified direction AND a measure of performance.
IT is changing the basis of business from labor and manual skills to _________.
knowledge management
Economists usually emphasize the degree to which government does not have control over markets in a capitalist system - what is a term for this concept?
laissez faire
An organization where the liability of the business owners is limited to the full, paid-up value of the share capital is referred to as a
limited liability.
An organization where the liability of the business owners is limited to the full, paid-up value of the share capital is referred to as a limited liability. partnership. unlimited liability. public limited liability.
limited liability.
Industries with a high concentration of small businesses generally require
little investment capital up front.
Industries with a high concentration of small businesses generally require little investment capital up front. physical product or material. service products that can be resold to consumers. enormous capital investment up front.
little investment capital up front.
Government regulation includes controls on all of the following EXCEPT _______.
market failures
Which of the following is necessary to identify market needs that can and should be met?
market research
The section of the business plan that states how a company will sell and communicate to its potential customers and suppliers is described in the
marketing and sales management section.
Which of the following is NOT a way that companies can demonstrate social responsibility?
maximizing profits
Which of the following is a useful indicator of the outlook for future jobs?
new claims for unemployment insurance
What type of companies do individuals tend to want to work for?
ones in which ethical dilemmas are minimized
Stakeholder theorists believe that______.
people outside of the business enterprise (e.g., consumers) ought to have a say in how the business operates
Unlike active listening, reflective listening focuses upon __________.
personal elements of the conversation
Congress gave the Federal Reserve System the authority to establish a nationwide check-clearing system to
prevent the disruptions of payments between banks during times of economic uncertainty.
Which of the following is a form of abuse that can arise due to dominance in market share?
price exploitation
Free enterprise is based solely on what as the means of production?
private ownership
According to recent studies, presentation programs reinforced with proper formatting and use of visuals help participants
reach decisions and consensus in less time.
For most people, when appraising the results of a decision, maintaining ________ is an important goal. Effectively doing so requires ________ analysis of the results of a decision.
relevance; objective
If the Federal Reserve is unable to resolve a problem after they are brought to the attention of an institution's management and directors, the Fed may then need to
request that the institution agree to the provisions of a memorandum of understanding to address the problem.
Businesses are more willing to sell a product when the price ________ and less willing to sell it when the price _________.
rises; falls
Businesses can avoid miscommunication due to lack of trust by
sharing information, communicating openly and honestly, and involving others in decisions.
Companies that practice social responsibility marketing strategies:
show concern for the people and environments in which they transact business.
Which of the following is a method used to organize, create and manage a social venture to achieve a desired social change?
social entrepreneurship
Navigating government regulations is one of the primary advantages of owning a sole proprietorship since
sole proprietorships do not have to pay corporate taxes.
The Federal Reserve System's key objectives are maximizing employment, moderating long-term interest rates, and
stabilizing prices.
Which of Andrew Carnegie's business principles advocates that the rich hold their money "in trust" for the rest of society, using it for any purpose society deems appropriate?
stewardship
Organizational ethics is how an organization ethically responds to an internal or external _________.
stimulus
In which of the following areas do nonprofits NOT play a role?
stock exchanges
Which approach to calculating GDP works on the principle that the incomes of the productive factors must be equal to the value of their products?
the income approach
In a sole proprietorship, there is no legal distinction between:
the owner and the business.
What does open communication allow?
the possibility of self correction and group problem solving
Which approach to calculating GDP involves summing the outputs of every class of enterprise?
the product approach
To determine the tone of a letter, memo, proposal, or other business communication, the writer must consider
the purpose of the communication.
How are stakeholders contributing to the heightened motivation for corporations to become more socially responsible?
they expect corporations to understand and address social issues relevant to the stakeholders
The FDIC was created in 1933 in response to
thousands of bank failures that occurred in the 1920s and early 1930s.
The market facilitates _______.
trade
An organization continuing to meet an employee's expectations of fairness creates a reciprocal relationship between organizational justice and _______.
trust
What event occurred alongside the development of industrial capitalism in 19th Century Britain?
universal adult male suffrage
A technique that uses bias-free language can be best described as
using messaging that is free from gender, race, age, and disability bias.
What technological development has allowed individuals to meet "face-to-face" over the Internet and have discussions related to a project they are working on together?
videoconferencing
The act of smiling or imitating actions is ________ communication
voluntary
Define pesticides.
¥ Any substance used to control, repel, or kill a pest (insects, weeds, fungus, rodents, etc.)
What are some auditory and non-auditory health effects associated with noise exposure?
¥ Auditory: noise-induced hearing loss ¥ Non-auditory: hypertension, ischemic heart disease, sleep disturbance, performance degradation, annoyance, psychological effects
What are some of the benefits and costs of globalization?
¥ Benefits: global economic growth, the chance for lower-income countries to develop economically and spread prosperity, greater information and communication flow ¥ Costs: increase in emerging and re-emerging infectious diseases, transfers jobs from developed countries to less developed countries (lower cost of labor), encourages dependence on other countries for essential goods and services
What does "integrated pest management" mean, and what are some examples of activities that are encompassed by this concept?
¥ Multiple control techniques to maintain pest populations below economically damaging levels while maintaining environmental quality ¥ Planting, forecasting, pest trapping, monitoring, thresholds, cultural controls, biological controls, chemical controls, record-keeping, soil preparation
What is noise pollution and why is it important?
¥ The disturbing or excessive noise that may harm the activity or balance of human or animal life; generally considered likely to annoy, distract, or even harm other people ¥ Noise-induced hearing loss, makes it harder to communicate, may affect ability to work, may miss critical warnings, social isolation, depression
Define environmental justice
¥ The fair treatment and meaningful involvement of all people regardless of race, color, national origin, or income with respect to the development, implementation, and enforcement of environmental laws, regulations, and policies ¥ All communities are clean, livable, and sustainable
What are some EJ concerns around climate change?
¥ Worse and less capacity to cope in minority areas ¥ Things like heat waves, extreme weather events, changes in vector-borne diseases, drought, and food availability will disproportionately impact lower-income countries—places that did not contribute as much to climate change
What is the concern around lead and environmental justice?
(Note the example of blood lead levels in Flint) ¥ Pervasiveness: >2 million children at risk in the US ¥ Potency of neurotoxicity: IQ deficits are clear ¥ Lead paint use in older houses before it was discontinued and outlawed ¥ Urban families might not be able to pay for the abatement, rural families might not have been affected by public health interventions ¥ Old pipes may contain lead
Susceptible group
(provide an example)
Vulnerable group
(provide an example)
What are some potential health effects of climate change?
(see study guide for figure) o Severe weather: injuries, fatalities, mental health impacts o Air pollution: asthma, cardiovascular disease o Changes in vector ecology: malaria, dengue, encephalitis, hantavirus, Rift Valley fever, Lyme disease, chikungunya, West Nile virus o Increasing allergens: respiratory allergies, asthma o Water quality impacts: cholera, cryptosporidiosis, campylobacter, leptospirosis, harmful algal blooms o Water and food supply impacts: malnutrition, diarrheal disease o Environmental degradation: forced migration, civil conflict, mental health impacts o Extreme heat: heat-related illness and death, cardiovascular failure
Can you describe the levels of surveillance that occur through FoodNet?
(see study guide for figure) o Exposures in the general population o Person becomes ill o Person seeks care o Specimen obtained o Lab tests for organism o Laboratory-confirmed case o Reported to health department/CDC
Explain the demographic transition
(see study guide for graph)
1.) What are the main sources of energy used globally? 2.) The three main types of fossil fuels used? 3.) What's the major source for electricity generation in the U.S.?
(see study guide for graph) 1.) Oil (37%), coal (25%), gas (23%), nuclear (6%), biomass (4%), hydro (3), solar heat (05%), wind (0.3), geothermal (0.2%), biofuels (0.2%), solar photovoltaic (0.04%) 2.) Oil, coal, and natural gas 3.) Coal (44.9%), natural gas (23.4%), nuclear (20.3%) *From the "energy ladder", give an example of a fuel source that is at the bottom rungs and another that would be at the top rungs (note: you don't need to know all of them in order, but the relative differences—i.e., wood vs. LPG, or charcoal vs. nuclear/renewables). o Socioeconomic development/income vs. efficiency, cleanliness, distance from the end user, and delay in occurrence of health effects o Bottom: crop residue, dung, wood, charcoal o Top: renewables, nuclear, electricity
What are the three main kinds of ionizing radiation (hint: alpha, beta, gamma), and what are the implications for exposure and controlling exposures?
(see study guide for infographic) Alpha: atom emits two neutrons and two protons; heavy, short-range. Produced by decay of heaviest radioactive elements ♣ Easily stopped, least penetrating Beta: neutron converts to proton, emits beta particle (electron) in process; light, long-range. Produced by certain unstable elements ♣ Much smaller, more penetrating Gamma and x-radiation: emitted after nuclear reactions if nucleus still unstable; often accompanied by alpha and beta radiation. Photons (no mass or charge); very long-range ♣ Pure energy with no mass; most penetrating
What is the greenhouse effect?
(see study guide for infographic) The trapping of the sun's warmth in a planet's lower atmosphere due to the greater transparency of the atmosphere to visible radiation from the sun than to infrared radiation emitted from the planet's surface.
The method which provides information regarding the performance of new products in extreme settings is a:
laboratory test
What industry contributed to technological advances such as fundamental chemistry, railroads and steam engines?
mining
What are keratoses
o A growth of keratin on the skin caused by arsenic o May persist indefinitely, and some may develop into invasive squamous cell carcinoma o Hard patches on the palms and soles of the feet
History of arsenic
o Arsenic compounds were preferred homicidal and suicidal agents during the Middle Ages and through the 19th century o Arsenicals were used extensively as medicinal agents (syphilis, psoriasis, asthma) o Paris green or copper acetoarsenite was the first widely used manufactured pesticide o Lewisite has been used as a war gas o Uses: agriculture (pesticides, wood preservatives, feed additives), glass/glassware, pharmaceuticals, chemicals, alloys of lead and copper, semi-conductors
What are some ways the following climate change effects impact human health? What populations are especially vulnerable to climate change? (NEED ANSWER)
o Changing water resources o Changing food resources o Changing sea levels o Changing temperature, precipitation, and weather patterns o Changing disease vector distributions
Where is arsenic found in the environment
o Food contaminated with arsenic o Consumption of marine plants and animals (mostly natural and largely nontoxic) o Contaminated air (near smelters) o Drinking water (mostly natural) o CCA wood (and soil near treated structures)
What are greenhouse gases and why are they important?
o Gas in the atmosphere that absorbs and emits thermal radiation o Carbon dioxide, methane, nitrous oxide, fluorinated gases o CO2 concentration up 35% from late 1900s to today o The more greenhouse gases there are, the more infrared radiation is trapped in by the atmosphere
What is the role of government, industry, and health care providers?
o Government: policies, regulations, safety standards, prevention strategies, inspections, illness investigation o Industry: good practices and prevention plans, FDA code compliance, recordkeeping, training and certifying employees in food safety o Health care providers: diagnose, treat, report rapidly, education high-risk patients, report outbreaks
Possible routes of exposure for arsenic
o Ingestion o Inhalation o Dermal
What do the terms mitigation and adaptation mean, and can you provide two examples of each?
(see study guide for venn diagram) Adaptation: adjustment in environmental conditions ♣ Examples: changes in land use, relocation, emergency and business continuity planning, upgrades or hardening of building and infrastructure, residential programs promoting adaptation, health programs Mitigation: the action of reducing the severity, seriousness, or painfulness of something ♣ Examples: energy conservation and efficiency, renewable energy, sustainable transportation, improved fuel efficiency, capture and use of landfill and digester gas, carbon sinks
Explain the epidemiologic transition, and provide examples of hazards and health effects at each point in the transition
- A shift in the pattern of morbidity and mortality from causes related primarily to infectious and communicable diseases to causes associated with chronic, degenerative diseases
How is poverty important to toxic exposures and health?
-People of color and the poor get more than their share of dirty water, air, contaminated land, and substandard housing and living conditions -Economically disadvantaged children living in urban homes built prior to 1978 are at greatest risk of lead poisoning -Poor housing conditions promotes dust formation—lead in old paint enters dust
Why are children especially vulnerable to environmental health hazards
-size: more water intake (7x), food intake, and air intake (breathe 3x faster and 2x as much air) -Food patterns (21x more apple juice, 11x more grape juice) -Different activity patterns (hands to mouth, lead tastes sweet, lower to the ground/higher concentrations of toxicants) -Periods of vulnerability: bones and growth, rapid times of development, prenatal environment, prepubescent time -Ability to metabolize toxicants: infants in particular have an incomplete blood-brain barrier, fetuses and newborns have low levels of biotransformation enzymes (less able to detoxify things in their bodies) -Unique health effects in children: cells are dividing, systems are developing, absorb toxicants more efficiently -Environmental chemicals are low to the ground; children's exploratory behavior, hand-to-mouth activity
1.) What is the precautionary principle? 2.) Biomimicry?
1.) Precautionary principle: when an activity raises threats of harm to human health or the environment, precautionary measures should be taken even if some cause and effect relationships are not fully established scientifically 2.) Biomimicry: imitations of natural designs and processes to improve situations or solve problems • Innovation inspired by nature (solar power)
In which year was the Federal Reserve System created in the United States?
1913
Describe two benefits and problems regarding pesticide use
Benefits: ¥ Allows for increased food supply ¥ Higher crop yield ¥ Protects from animals, insects, weeds ¥ Prevents infestation ¥ Structure integrity (termites) ¥ Hygiene and health (cockroaches) ¥ Quality of life ¥ Infectious vector-borne disease control ¥ Mosquitoes, ticks malaria, West Nile virus, Lyme disease Problems: ¥ Poisonous by design ¥ Lack of human toxicity data ¥ Gaps in information, education, and regulation ¥ Human studies are complex and take time ¥ Scientific/risk/policy debate ¥ Developing countries ¥ Improper application and overuse ¥ Increased and unnecessary exposures ¥ Effects on non-target species ¥ May lead to pest resistance, need for more toxic compounds and volumes for equal effectiveness
Which of the following would be considered a G&A expense?
CEO Salary
What is the difference between global health and international health?
Global health: health of populations in a global context ¥ Interconnectedness of countries regarding health ¥ How transportation, commerce, communications, economics, and politics influence health around the world ¥ Infectious disease communicability via travel ¥ Chronic disease communicability through media, commerce International health: ¥ Focused primarily on health in developing countries, not on interconnectedness among countries ¥ Unidirectional—transfer of knowledge/technology from rich north to poor south
The stage during which the product is accepted by consumers is called:
Growth
Which of the following is NOT a trait that problem-based learning helps students to develop?
Individualism
Can you describe three main routes of exposures, and strategies to limit exposures?
Inhalation (vapors and dust) ¥ Personal protective equipment Dermal (contact with contaminated surface) ¥ Personal protective equipment Ingestion (hand-to-mouth contact, reside in food and drink) ¥ Buying organic produce
How does heightened flexibility benefit small organizations?
It allows quicker response times to industry developments.
Employees are often not given power by their managers because managers believe:
It is difficult to share power and maintain a strong organization
A divisional structure, as the name implies, pertains to the separation of varying functional areas. Which of the following are NOT ways in which a divisional structure would separate?
Management style
Name two differences between occupational and community noise exposure limits (hint: think allowable exposure level and risk of health effects)
Occupational: ¥ Permissible exposure limit set and enforced by OSHA ¥ 8-hour work shift average of 90 dBA ¥ 1 in 4 workers will have substantial hearing loss after 40 years of exposure Community: ¥ EPA recommended limit ¥ 24-hour daily average <70 dBA ¥ Protects everyone against any hearing loss
Can you name at least three types of exposures that people might experience (hint: occupational, environmental, residential, personal application)
Occupational: ¥ Manufacturing, packaging, transport ¥ Agricultural crop dusting ¥ Mechanized agricultural application Residential: ¥ Outdoor residential/ornamental application ¥ Long duration of exposure (people spend up to 90% of their time indoors) Personal: ¥ Bug spray/DEET
What is a consumer?
Someone who acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing
The "P" in Irving Fisher's equation of exchange represents which of the following?
The average price of all the goods and services sold during the year
What are some vulnerable groups, and why are they susceptible?
To exposure: ¥ Farmers, agricultural/greenhouse workers, professional applicators, pesticide plant workers ¥ Families of farmers, low-income housing ¥ Agricultural areas (application + drift) To adverse outcomes: ¥ Elderly, individuals with existing health conditions To both: ¥ Children
What characteristics of an entrepreneurial economy allow it to achieve the creation of new ventures, sectors and industries?
a high level of innovation
Proponents of a network structure primarily underline which of the following characteristics as the core advantage of using this organizational structure?
agility
According to Perry Sainati, what has contributed to the remarkable recovery of the U.S. manufacturing industry?
automation, process improvement and quality
Which of the following is the most risky way to lend money to a company in terms of probability of repayment?
common stock
The increasing abundance of what has shifted businesses to a new coordination strategy based in networked conversation?
communications and information technology
With problem-based learning, students learn how decision making may be informed by ________.
competing resolutions
Using psychological pricing, a company might charge $400 for a designer item because it:
creates more demand
A section of a large company.
division
Small business owners have the satisfaction of making their own decisions within the constraints imposed by ____________.
economic and environmental factors
An exchange rate that is quoted and traded today but for delivery and payment on a specific future date is referred to as a
forward exchange rate
What are two ways that radon levels can be reduced in homes?
o Low-cost radon test kits to see if you need to install a mitigation system o Air circulation and ventilation o Water traps: allowing water that collects on basement floors to drain away; reduces or entirely eliminates entry of soil gas, including radon
What are some types of economic costs associated with foodborne illness?
o Medical expenses, lost productivity, punitive damages, lost business (food companies, restaurants), surveillance costs
What is the concern about the Athabasca oil sands mining? (Hint: think of greenhouse gases like carbon dioxide and water inputs)
o Mixture of very heavy crude oil, sand, clay, and water o 12-22% higher carbon emissions to produce than crude oil refinement in Europe
What are some natural and anthropogenic sources of radiation?
o Natural: radon, thoron, cosmic (space), terrestrial (soil), o Anthropogenic: medical procedures, nuclear medicine, consumer products, industrial/occupational
Why are foodborne cases under-reported?
o People embarrassed to speak up o Not sure if it was food poisoning or not
What is energy loss?
o The amount of energy lost during generation, transmission, and distribution of energy o 33-35% of heat energy from coal plants produces electricity; the rest is lost as thermal waste o 7% of energy lost in transmission and distribution in the United States, 8% globally
What are the three ways in which we can reduce radiation? (Hint: think time, distance, shielding)
o Time: eliminate or limit exposure time o Distance: increase distance o Shielding: e.g., lead blankets when getting x-rays
What is the primary tool of monetary policy?
open market operations
Proactive marketing in which customers are directly contacted is called:
outbound
What are students expected to do after scrutinizing a case study?
prepare strategies and tactics that the firm should employ in the future
The main focus of business analysis is:
profit
Which of the following may cost a company so much that it is forced out of business?
regulation requirements
Which consumer right asserts that consumers should be able to voice complaints and concerns about a product in order to have the issue handled efficiently and responsively?
right to be heard
Which consumer right asserts that consumers should receive a fair settlement of just claims, including compensation for misrepresentation, shoddy goods or unsatisfactory services?
right to redress
As demand increases, prices will _______.
rise
Goods for which customers go to some lengths to compare values, and, therefore, these goods need not be distributed so widely are classified as:
shopping goods
Creditors will typically declare a credit card account a charge-off after a period of
six months without payment
What is the 1950s movement known as that began pushing for increased rights and legal protection against malicious business practices?
the retail revolution
What event, during the late 19th century, is responsible for first bringing about high productivity growth?
the second industrial revolution
Which of the following is NOT a man method used to collect PA data?
written exam
What are some strategies to control noise and minimize noise exposures?
¥ Change the source ¥ Change path ¥ Change duration, timing, or permissibility of exposure ¥ Use hearing protection
Why is urbanization good and bad for public health?
¥ Pros: increased access to health services, drinking water supply, housing, solid waste disposal, transportation, job opportunities ¥ Cons: water pollution, industrial wastes, air pollution, lack of access to fresh and healthy foods, physical inactivity, spread of contagious disease, road traffic injuries, slum development
What is a life cycle assessment? What are the major components to consider? (Hint: Extraction, manufacture/production, transport, use and disposal)
♣ Life cycle assessment: a technique to assess environmental impacts associated with all stages of a product's life from cradle to grave ♣ Major components: materials, manufacturing, packaging, distribution, usage, disposal
Some of the symptoms of acute and chronic arsenic exposure
♣ Onset of symptoms: minutes to hours ♣ Immediate effects: GI irritation, cramps, ECG abnormalities, death from circulatory collapse ♣ Delayed effects: peripheral neuropathy (after 1-2 weeks), skin peels, Mees' lines in nails, bone marrow effects (after 1-2 weeks) Chronic: ♣ Malignant disease (bladder, skin, lungs) ♣ Primary targets: skin, vasculature, peripheral nerves ♣ Secondary targets: bone marrow, GI tract, skin and mucous membranes, liver, kidneys ♣ Neurologic effects: symmetric axonopathy; sensory > motor; lower > upper extremities ♣ Skin: hyperkeratosis on palms and soles; hyperpigmentation (around eyelids, nipples, groin areas, chest, back, abdomen), skin cancer ♣ Vascular effects: Raynaud's syndrome, acrocyanosis, frank gangrene
