2018 Business Management SLO

Since Justin needs to examine the methods used to reach his company's goals, he wants to write a business plan to

implement a strategic plan.

One of the roles of ethics in finance is to encourage business employees to

make the right decisions.

Which of the following is a compliance issue

minimum wage.

Team leaders often use positive reinforcement techniques to

motivate team members.

The primary purpose of developing a work breakdown structure (WBS) for complex projects is to

organize the work in a logical sequence.

Avery, who manages a silk-screen and embroidery business, has set a goal of increasing sales by 15% in the next six months. To reach his goal, he has increased the business's advertising budget. This is an example of the _________ function of management.

planning

Avery, who manages a silk-screening and embroidery business, has set a goal of increasing sales by 15% in the next six months. To reach his goal, he has increased the business's advertising budget. This is an example of the ______________ function of management

planning

The advantage of cross-functional work teams to businesses is that the team members

possess unique talents.

when building a new facility a company should

prepare for an expansion.

The impact of some business risks can be reduced if the business transfers the risk to another business by

purchasing insurance.

In what way can an existing business benefit from writing a business plan?

Acquire funding for a new idea

Which management function is described in the following situation

Christy Chen determines the type of workers she needs, locates qualified applicants, selects those to be hired, and assigns the new hires to a work area.: Staffing

In which stage of project management is the product delivered?

Closing

What must managers be able to do if they want employees to understand the business's goals and be productive

Communicate clearly

Which of the following is a benefit of project planning?

Coordinating all of the parts of the project.

What management function is being described in the following situation

David Thomas, a top-level manager, identifies jobs to be performed, assigns responsibility for them, establishes departments to handle the jobs, and determines how many and which employees mid-level managers will supervise.: Organizing

What management function is being described in the following situation

David Thomas, a top-level manager, identifies jobs to be performed, assigns responsibility for them, establishes departments to handle the jobs, and determines how many and which employees mid-level managers will supervise: Organizing

During what phase of the project life cycle does the project manager activate project controls

Execution.

Which management function is described in the following situation

James Crane has created a team atmosphere among the members of his sales department. When the team exceeded their monthly sales goal, James rewarded them with a celebratory dinner out and a five-percent bonus.: Controlling

What management function is being described in the following situation, David Thomas, a top-level manager, identifies jobs to be performed, assigns responsibility for them, establishes departments to handle the jobs, and determines how many and which employees mid-level managers will supervise

Organzing

Who is usually responsible for planning a project?

Project manager.

Tom gave each of his team members a form that asked questions about the team's achievement of goals, processes, and other team members' roles and work habits. What team-assessment tool is Tom using?

Survey

Which of the following is a true statement about projects

They are short-term undertakings.

Which of the following is the main purpose of management

To accomplish the business's goals.

Why should managers know how to do the work of the workers they supervise?

To have realistic expectations for workers.

Why is it important for businesses to interpret statistical findings?

To obtain useful information.

By monitoring a variety of sales records on a continuous basis, a business can often develop

customer profiles.

Brandi is reviewing marketing information about the possible demand for a new product. In this instance, Brandi's marketing-information management system is most likely to be helping her to

develop a sales forecast for the company.

Tacit knowledge is often based on experiences and personal expertise, while explicit knowledge is

easy to communicate and quantify.

Which of the following do many businesses believe to be their most important resource

employees.

You decide not to take a certain action because you know it's the wrong thing to do. You have made this decision based on your

ethics.

The part of the business plan that gives an overview of the entire document is the

executive summary

A financial planner advises a client to make a high-risk investment. This is an unethical action if the

financial planner's primary motive is to earn a large commission.

An important part of the planning function of management is to determine the business's

goals.

Rules and regulations for keeping a project on track are known as

governance mechanisms.

At Company X, employees each put together a small part as it passes them on the assembly line. Rewards are given to employees who work the fastest. Managers frequently observe employees to determine how each job can be done faster. The managers are using the _____ theory

scientific management

Which of the following is not an element of a project

technology.

The three common constraints on a project are scope, budget, and

time.