BUS 151

E. contingency

A clothing wholesaler that buys most of its inventory from manufacturers in the Caribbean should have a _____ plan in the event a hurricane demolishes the manufacturing facility of one of its principal suppliers. A. strategic B. hierarchical C. functionally-oriented D. supply-demand E. contingency

B. scientific management

A manufacturing company in which industrial engineers have maximized efficiency by determining the best way to perform every task from tightening a bolt to operating a forklift would be illustrative of: A. the Hawthorne effect B. scientific management C. expectancy theory D. equity theory E. Herzberg's motivator-hygiene theory

True

A plan is a method or process worked out in advance that leads to the achievement of some goal.

B. committee

A structure in which authority and responsibility are held by a group of workers rather than a single manager is called a _____ structure. A. matrix B. committee C. functional D. subordinated E. cluster

B. workers respond to being paid attention to

According to the Elton Mayo's Hawthorne effect,: A. responsibility motivates B. workers respond to being paid attention to C. workers respond to money D. good leadership is the key to motivation E. workers dislike negative reinforcement

Public Relations

Any communication or activity designed to win goodwill or prestige for a company or person is called: personal selling advertising public relations media handling corporate relations

the assembly process

Hershey's hot cocoa mix combines dry milk, whey, corn syrup, processed cocoa, aspartame, and artificial flavorings and colors. This process of converting inputs into outputs is an example of: A.process manufacturing B.consumer product conversion C.the assembly process D.production integration E. product combination

C. performance appraisals

Like many other companies, Robert Mondavi Winery uses _____ to systematically compare the actual performance of each employee with his or her expected performance. A. value analyses B. worker benchmarks C. performance appraisals D. job descriptions E. none of the above

False

The World Trade Organization (WTO) is not as effective as the World Bank in helping settle trade disputes.

B. virtual

The _____ corporation is a network of independent companies linked by information technology to share skills, costs, and access to one another's markets. A. hierarchical B. virtual C. opportunistic D. autonomous E. network

North American Free Trade Agreement (NAFTA)

The _____ created the world's largest free-trade zone.

code of ethics

The _____ for the Music Teacher's National Associations establishes a standard of conduct and recommends a set of responsibilities teachers should have toward students, colleagues and the public. These guidelines assist the professional music teacher in gaining the respect of peers and avoiding conflicts and complaints with students and others. It points out to members what are and what are not considered fair, honest and reasonable practice when dealing with students, colleagues and the public, it provides guidance for such aspects as advertising practices, appropriate relationships, and personal and professional integrity.

d. Small business adminstration

The _____ is an agency of the federal government that offers both managerial and financial assistance to small businesses. :A. Business Incubator Agency B. Federal Aid Program C. Business Welfare Administration D. Small Business Administration E. Council for Small Business

promotional mix

The _____ is the combination of advertising, personal selling, sales promotion, and public relations used to promote a product. marketing mix distribution strategy promotional mix product strategy sales mix

One-to-one marketing

_____ involves creating a unique marketing mix for every consumer Niche marketing One-to-one marketing Aggregated marketing Macromarketing Flexible marketing

Corporate philanthropy

_____ is the practice of charitable giving by corporations; includes contributing cash, donating equipment and products, and supporting the volunteers' efforts of company employees.

Total quality

_____ management emphasizes the use of quality principles in all aspects of a company's operations. Quality teamwork Cultural quality Total quality Critical quality Total commitment

E. Empowerment

_____ means giving employees increased autonomy and discretion to make decisions as well as control over the resources needed to make those decisions. A. Indoctrination B. Responsibility C. Influence assignment D. Laissez-faire E. Empowerment

True

According to Maslow's hierarchy of need, the most basic needs are the social needs.

True

An effective tip when you first start your new job is to look for someone who can guide you and help advance your career.

lean manufacturing

Mazda once included a solar powered ventilation system on its cars. A solar panel on the roof powered a pair of fans near the trunk, which automatically turned on when the temperature in the car reached 90 degrees. Because customers were not willing to pay for this benefit and did not complain when it was no longer available, Mazda discontinued it. This is an example of: removing the waste lean manufacturing manufacturing consolidation manufacturing compression concentrated manufacturing

False

Social media is a very powerful method of personal selling.

all of the above

Successful owners and managers must continually study which of the following sectors/elements of the environment to remain successful?

True

The skills, knowledge, and abilities a person must have to fill a job are spelled out in a job specification.

target market

Topik is a product that is sprayed on thinning hair and makes the hair appear thicker. The manufacturer considers its potential market to be blue-collar workers who earn less than $40,000 per year, are divorced, and who like to think of themselves as weekend athletes. The manufacturer of Topik considers this group to be its: population sample target market demand group utility market package group

False

Two examples of how multinational corporations demonstrate social responsibility in a foreign country include learning local customs and allowing suppliers to operate without monitoring and understanding their activities.

Business cycle

Upward and downward changes in aggregate economic activity, as measured by GDP, are called:

delivering the product

Which of the following is NOT an example of a promotional goal? creating awareness providing information delivering the product retaining customers increasing the use of products

D) Budgeting.

Which of the following is NOT one of the four functions of management? A. Planning B. Controlling C. Organizing D. Budgeting E. Leadership

unlimited liability of the partners

Which of the following is an example of a disadvantage associated with a partnership?

home shopping network

Which of the following is an example of nonstore retailing? factory outlet super store home shopping network catalog store convenience store

Dwell on past successes

Which of these steps helps to form the habit of positive thinking and boost your success?

consumer

Which one of the following is NOT a commonly used method for segmenting markets? volume consumer benefit demographic psychographic

Sole Proprietorship

Which type of business organization experiences the least governmental regulation?

penetration pricing

With a _____ policy, a company offers new products at a low price in the hope of achieving a large sales volume. price skimming penetration pricing market share pricing limited value pricing low-ball pricing

Profit

_____ is the amount of money remaining from a firm's sales revenue after it deducts production costs, interest costs, and taxes.

Social Responsibility

_____ is the concern of businesses for the welfare of society as a whole.

Corporation

does not have a size limitation

Choose a comfortable workplace like a bed

Which of the following is NOT a good way to help you concentrate?

fixed-position

A German company specializes in building radar tracking systems. This is a large piece of equipment that requires a number of teams to build the base, the satellite dishes, install the wiring, install the computers and communication equipment, and do some final programming. What type of a production facility layout would be used to construct such this radar system? A.process B.fixed-position C.stationary D.static E.customized

D. lazy employees who can't be trusted

A Theory X manager would assume his or her workers are: A. desirous of more delegation B. very optimistic C. desirous of promotions, raises, and more responsibility D. lazy employees who can't be trusted E. ambitious and want to work for as long as they are physically able

B. how fairly a worker is treated compared to coworkers

The equity theory is concerned with: A. setting rewards based on individual employee desires B. how fairly a worker is treated compared to coworkers C. how much compensation a worker will receive D. the worker's concern with company ownership E. the worker's place in the decision-making process

D. establish performance standards

The first step in performance planning and appraisal is to: A. create an orientation program for employees B. give every employee an aptitude test C. determine which employees have seniority D. establish performance standards E. provide feedback to top managemen

mass customization

There is a standard approach to butchering a steer. Once the steers are butchered according to the agreed upon method, butchers are able to provide one customer with a 2-inch thick T-bone steak and another with thin pieces of steak for making fajitas. After standardized preparation, the meat is tailored to meet individual needs and desires. This is called: A. just-in-time production B. mass customization C.individualized production D.niche manufacturing E. production-to-order

fiscal

When the government raises taxes on consumers and businesses, it is dealing with _____ policy.

B. Organizing

____ is the process of arranging the structures and relationships of human and material resources to carry out an organization's plans. A. Leadership B. Organizing C. Communicating D. Planning E. Controlling

D) Organic

A(n) _____ organization is characterized by a relatively low degree of job specialization, loose departmentalization, few levels of management, wide spans of control, decentralized decision making, and a short chain of command. A. mechanistic B. hierarchical C. line D. organic E. staff

B. like delegation and responsibility in

According to Theory Y, workers _____ their work. A. especially dislike the creative part of B. like delegation and responsibility in C. dislike every facet of D. have a strong aversion to E. find nothing pleasurable about

B) labor union

A _____ is an organization of employees formed to represent workers in their disputes with management over wages, hours, and working conditions. A. job bank B. labor union C. labor federation D. craft federation E. labor community

joint venture

A _____ is when two or more companies form a special entity to undertake a specific project, usually for a specific period of time.

perfect competition

For most agricultural products, farmers produce homogeneous products, sell them to a common market, and generally cannot affect prices greatly. This is an example of which kind of market structure?

agent

Geraldine Fadsi's job in the entertainment industry is to bring together entertainers and organizations looking to hire entertainers. Fadsi is paid a commission, usually by the entertainer. Fadsi is acting as a: merchant wholesaler agent distributor distribution captain marketer

E. hygiene factor

In Herzberg's theory, salary is an example of a(n): A. job satisfier B. self-actualizing factor C. motivating factor D. employee-controlled factor E. hygiene factor

Marketing Research

In selling telephone service, AT&T tries to gather as much information as possible about the consumer's income, buying habits, service preferences, and occupation. AT&T is utilizing: psychographic data mass customization niche marketing marketing research marketing customization

factors of production

Inputs, such as natural resources, labor, capital, and entrepreneurship, are known as:

False

It has been estimated that only up to 50 percent of our workplace success depends on an understanding of other people. The remainder depends on technical skills.

A. centralized

Kirk McCoy is district sales manager for the Jimmy Dean division of Sara Lee Corp. He has six sales managers that report to him. McCoy makes most of the decisions for his people and demands that they check with him on any changes in pricing, sales scheduling and routing, and sales presentation material. McCoy operates a ______ department. A. centralized B. hierarchical C. decentralized D. subordinated E. functional

E. self-managed work teams

Many organizations that experienced success using problem-solving teams expanded the team concept to allow team members to have greater responsibility in making decisions, implementing solutions, and monitoring outcomes. These highly autonomous groups are called: A. independent groups B. functional groups C. work groups D. project committees E. self-managed work teams

D. find financing for the business

Once the business plan is finished, the next step is to do this according to the Checklist for Starting a Business: A. choose a business format B. locate customers C. create a promotional campaign D. find financing for the business E. buy all fixed assets needed to operate business

C. the establishing of critical paths

Production and operations management involves three main types of decisions. Which of the following is not one of those decisions: A. production planning B. improving production and operations C. the establishing of critical paths D. production control

False

The first two stages in the selection process are the preliminary interview and background checks.

Unsought Convenience Shopping Specialty

The four major groupings of consumer products are: limited, generic, specialty, and unsought shopping, durable, limited, and nondurable unsought, convenience, shopping, and specialty brand, specialty, shopping, and generic convenience, brand, generic, and manufacturer

the need for businesses to expand their markets

The most fundamental reason for the growth in world trade is probably due to:

False

The two ways of measuring the amount of global trade that a country conducts are trade deficit/surplus and exchange rates.

Social Responsibility

U.S. Steel has established an alcoholic rehabilitation program for the city of Pittsburgh. The company provides the facilities and the personnel to operate the program. U.S. Steel is practicing

comparative advantage

Venezuela can grow and sell cut flowers for floral bouquets more easily and more cheaply than most other countries can produce the same flowers. When it comes to flowers, Venezuela has a(n):

B. They are both common scheduling tools for complex situations.

What do Gantt charts and PERT charts have in common? A.They are both tools for computer-aided design (CAD). B.They are both common scheduling tools for complex situations. C.They are both tools used for evaluating potential site locations. D.They both are useful in making sure that all resources are available at the start of a complex project. E.They are communications tool for explaining production needs to suppliers.

incorporated Stirya

When Linda McAnem began Stirya, a New York-based computer services company, she ran it as a sole proprietorship. As the business grew, she realized that she did not want to be personally liable for the business's debts and wanted her business accounts to be separate from her personal accounts. Therefore, she should have:

is more geographically dispersed

When compared to the business-to-business market, the consumer market is: bases buying decisions more on rational thinking than on emotions is more geographically dispersed has fewer customers uses more direct channels of distribution buys in larger quantities than businesses do

D. increasing dependence on autocratic leadership

Which of the following is NOT a current trend in management and leadership? A. the need to prepare for crisis management B. increasing need for global management skills C. the growing use of information technology D. increasing dependence on autocratic leadership E. increasing globalization of the business world

quality management control

Which of the following is NOT a current trend in production and operations management? business process management (BPM) dwindling U.S. investments in science and research the loss of American innovation leadership quality management control the ability to find qualified, skilled workers

E. the business owner and his or her family and friends

Which of the following is NOT a reason why small business thrives in the United States? A. finance companies B. the Small Business Administration (SBA) C. the local bank D. venture capitalists E. the business owner and his or her family and friends

conducting market research

Which of the following is NOT a step performed by the salesperson during the selling process? demonstrating the product prospecting and qualifying following up on the sale handling objections conducting market research

the ability to use standard processes in every country and disregard local customs and requirements

Which of the following is NOT one of the advantages associated with multinational corporations?

C. Financing is not an issue because these businesses generate big profits right away

Which of the following is Not an advantage of a small business: A. Efficient to operate because of streamlined staffing and structure B. Flexibility to respond to changing market conditions C. Financing is not an issue because these businesses generate big profits right away D. Can serve specialized markets more profitably than large firms E. Can provide a higher level of personalized service

Amount of start up costs

Which of the following is Not an advantage of franchising? A.Recognized brand name B.Management training is available C.Amount of start-up costs D.Financial assistance is available E.Proven product and operating method

Brokers

____ bring buyers and sellers together, do not title to merchandise, receive commission on sales; and work in markets where there is little information to bring together buyers and sellers. Agents Wholesalers Cash and carry wholesalers Brokers Sales representatives

Reach

_____ is the number of different target consumers who are exposed to a commercial at least once during a specific period, usually four weeks. Interaction Contact Selectivity Connectivity Reach

Demand

_____ is the quantity of a good or service that people are willing to buy at various prices

hold down costs and maintain accurate levels of inventory

The goal of inventory management is to: A.maintain quality control B.buy as much as possible C.hold as much as possible in stock D.always buy the cheapest raw material E. hold down costs and maintain accurate levels of inventory

E. apprenticeship

Which of the following is a type of on-the-job training? A. e-training B. brainstorming C. mediation D. programmed instruction E. apprenticeship

b. Increasing human resource staffing to deal with an increasing number of employment laws

Which of the following is not a trend in human resource management? A. improving efficiency through outsourcing B. Increasing human resource staffing to deal with an increasing number of employment laws C. Hiring employees who fit the company culture D. Using diversity as a competitive advantage E. Growth in service union membership due to the growing need for home health and care aids

Schedule a realistic day

Which of the following is a good idea to help you master your time?

Intrapreneur

____ are entrepreneurs who apply their creativity, vision, and risk taking within a large corporation rather than starting a company of their own. They enjoy a high degree of autonomy while receiving a regular salary and financial backing from their employer. A. Multipreneurs B. Insourced entrepreneurs C. Intrapreneurs D. Corporate entrepreneurs E. Classic entrepreneurs

e. All of the above

Andy Yocom was looking to start a small business so he could be his own boss. While golfing one day, he saw prime advertising space on the flags on the course. He has decided to call his new venture Invision Golf Group Inc. What should he include in his business plan? A. a management plan B. the elements of the company that make it unique C. an analysis of the market in which the company will operate D. a financial plan E. all of the above

continuous

Cherokee Spring Mill produces four varieties of corn meal based on how finely the corn is ground. The mill makes long production runs of high volume. Cherokee Spring Mill uses a(n) _____ process. A. centralized B.continuous C.intermittent D.customized E.transformational

custom regulations

China imposes a limit on the amount of alcohol that can be in imported beer. Another name for this type of trade barrier is a(n):

B. reengineering

GTE modified its telephone operations by creating "customer care centers." The purpose of this change was to identify and abandon outdated rules and fundamental assumptions and act as if it were creating a new company more in line with the needs of today's customers. GTE was using a new concept in business called: A. operations research B. reengineering C. quality improvement D. operational control E. management by objectives

Exporting

The Northwest Cherry Growers (headquartered in the state of Washington) sells much of its locally grown produce to Taiwan. _____ was the easiest and least expensive way for the growers' association to sell to global markets.

found the business to be easy and inexpensive to form

When Linda McAnem began Stirya, a New York-based computer services company, she ran it as a sole proprietorship. As a sole proprietor, McAnem:

Marketing Concept

According to the _____, a firm should first identify consumer needs and then produce the goods and services that will satisfy them. market mission statement customer satisfier sales concept total exchange concept marketing concept

C. adjusting leadership styles

All of the following are elements of controlling EXCEPT: A. setting performance standards B. taking corrective action C. adjusting leadership styles D. measuring performance standards E. use information gained in the process to determine future performance standards

Change answers as much as you need to

All of these are rules of the test-taking game EXCEPT:

Set a Goal and acquire Knowledge

Amanda is interested in building her interpersonal skills. She should focus on all of these EXCEPT:

Socialism

An economic system that has basic industries like railroads owned by the government, high taxation, some markets controlled and some allowed to be free is known as:

B. span of control

Cristos Hatzienmmanuil worked to make the Olympics in Athens a success. As a manager of the Olympic venues, he had 20 people who reported directly to him. His _____ is twenty. A. controllability B. span of control C. accountability D. span of attention E. depth of authority

D. Democratic (participative)

The CEO of Whole Foods Markets is John Mackey. The company has a set of quirky management rules that makes Whole Foods an odd but effective workplace. Every store is divided into about eight functional teams: An employee is hired provisionally to a store team. After four weeks of work, the team votes whether to hire him or her; a two-thirds yes vote is necessary to join the staff permanently. Which leadership style appears to be used by Whole Foods? A. Autocratic B. Multi-dimensional C. Reactive D. Democratic (participative) E. Defensive

Strategic giving

The Home Depot supplies all the materials and the labor expertise for Habitat Homes in various regions of the country where the retail giant has a store. Its top management believes that this type of philanthropy better reflects the company's commitment to the community than simple donations to the American Cancer Society and similar national charities. The Home Depot is using the practice of:

possession strategy

The blend of the marketer's tools is called the five Ps. Which of the following is NOT one of the five Ps? product strategy pricing strategy place strategy possession strategy promotion strategy

setting new-product goals

The first step in the new products planning process is: brainstorming building a prototype setting a new-product mission setting new-product goals conceptualizing

prospect and qualifying

The first step in the selling process is to: present the product handle objections demonstrate the product prospect and qualifying approaching customers