Flatworld End of Chapter quizzes BA 101

The forty-plus countries of Europe have long shown an interest in integrating their economies. This was accomplished in the late 1990s when the European Union (EU), a group of twenty-eight countries that have eliminated trade barriers among themselves, was formed. Which of the following statements about the EU is NOT true?

All EU members agreed to abandon their own currencies and adopt a joint currency called the Euro.

According to a well-known writer and American linguist, Deborah Tannen, men and women in the workplace don't communicate in the same way. All of the following statements about gender differences in communication are true EXCEPT:

All of the statements are true.

To remain competitive, medium and large companies identify product development opportunities using the following approaches EXCEPT:

All of these are actions medium and large companies should do to identify product development opportunities.

When starting or expanding operations, businesses in the service sector must make a number of decisions which are quite similar to those made by manufacturers. Which of the following is NOT a question that managers in the service sector must address?

All of these are questions that managers in the service sector must address. (6.7)

It is important that a workforce reflects the broad range of differences in the population. The efforts of human resource managers to build a workforce that is representative of the general population are driven in part by _________________________.

All of these are reasons why human resource managers should build a diverse workforce (5.3)

A College Board survey of 120 major companies in the United States concludes that writing is a "threshold skill" for both employment and promotion. When commenting on the results of the survey, a human resource director stated that, "in many cases, writing ability could be your ticket in-or your ticket out." What did the human resource director mean by this statement?

Applicants and employers who cannot write and communicate clearly will not be hired by major companies in the United States and are unlikely to last long enough in an organization to be considered for promotion.

Jack McLaughlin secured a U.S. patent for a new type of greeting card called a furl (because the message is on a long slip of paper that you unfurl (roll out) to read). He decided to sell his new product in England and Australia. To be protected against someone copying his product in these two countries, Jack must do which of the following?

Apply for a patent in both England and Australia

Organizations face the risk of encountering crises that require immediate attention. Rather than wait until such a crisis occurs and then scramble to figure out what to do, many organizations practice crisis management. In spite of crisis management training, which company will be remembered for its chief executive officer's (CEO) poor job at crisis management?

BP

Dennis Jerz and Jessica Bauer created a list of tips for writing effective e-mail messages. All of the following are included on their list EXCEPT:

Be sure you have the correct e-mail address so that the e-mail goes to the intended recipient. Otherwise, assume privacy.

______________________software is used to design products. It creates computer models, permitting engineers to test products and work out design problems before moving to the prototype stage.

CAD - computer-aided design

Companies often link CAD (computer-aided design) software to the manufacturing process. This task can be accomplished with _____________________software, which determines the steps needed to produce a component and instructs a machine to do the work.

CAM - computed-aided manufacturing

The capabilities of a CAD/CAM system can be expanded by means of ________________ software, which integrates various operations, from design to production, with fundamental activities ranging from order taking to shipping.

CIM - computer-integrated manufacturing

Wal-Mart and Toyota all have operations around the world. They are called _________________.

Multinational corporations

The North American Free Trade Agreement (NAFTA) is an agreement among the governments of the United States, Canada, and Mexico to open its borders to unrestricted trade. Which statement about the NAFTA is NOT true?

NAFTA restricts the type of goods that can be exported within the NAFTA zone by each of the three countries: the United States, Canada, and Mexico.

There are several possible approaches that can be used to forecast demand for a product. Which of the following is NOT one of these approaches?

Obtain objective information on the number of customers served by each of your competitors from the Small Business Administration

Mark is a business major at DeAnza College. To earn money for his books and other expenses, he took a job two weeks ago at a Dairy Queen near the college. His boss is helping him make a Dairy Queen Blizzard. The process he is going through is called:

On-the-job training

Operations managers manage the process that transforms inputs into outputs. Those working in a manufacturing firm are responsible for transforming resources into finished goods. To perform this function in today's environment, operations managers do all of the following EXCEPT:

Oversee the maintenance of the company's headquarters, include executive and sales offices

_________________is the tendency to conform to group pressure in making decisions, while failing to think critically or to consider outside influences.

Groupthink

You are the chief executive officer (CEO) of a medium-size company that makes jellybeans and other candies. Recently you noticed that the jellybean production line has been disrupted frequently. You decided to put a team in charge of solving the problem. What do you see as the primary advantage of using teams in organizations?

Improve overall organizational performance

Every company has an informal communication network, which goes to work whenever two or more employees get together and start talking about the company and their jobs. Which of the following statements about the information communication network is FALSE?

Information on the informal communication network travels at a slower pace than formal communication.

Betty Vinson might have avoided making an ethical lapse (when she caved in to her bosses' pressure to make false accounting adjustments to push up WorldCom's income) if she had asked herself any of the following questions, EXCEPT:

Is it likely I will be held responsible for my actions?

Which of the following is NOT a risk a business person takes when developing a new product?

It is difficult to develop a product without knowing who your primary customer will be and whether they need the product.

As part of your job as human resource director for a home health services company you use ________________________to ensure that your company has the right number of employees with the right skills in the right place at the right time.

Strategic human resource planning

You were rushing to meet an old friend at his office when all the members of a team stormed out of a conference room. You could not hear everything that was said but you heard enough to know that the team was disintegrating. All of the following reasons might have caused the conflict among team members EXCEPT:

Strong group cohesiveness

The government payments that are given to farmers to offset some of their costs of production are called subsidies. Which of the following is NOT true about these subsidies?

Subsidy programs guarantee payments to only those farmers who operate small or medium-size farms.

Last Minute Broadway Tickets sells tickets for Broadway plays at prices considerably below the prices printed on the tickets. This situation is an example of which of the following conditions?

Surplus causing a decrease in market price

Many employers report that, except for firing people, giving performance appraisals is their least favorite task. Which of the following is NOT a typical step an employer takes in a performance evaluation?

Test skills and knowledge entailed by the job

1. There are two countries - Country 1 and Country 2 - and the citizens of both countries know how to make only two products: necklaces and fishing poles. Each of the countries spends 50 percent of its resources. The following shows the output from each country: Country 1: Necklaces: 6 Fishing poles: 18 Country 2:

Country 1 has an absolute advantage in making both products (necklaces and fishing poles).

The previous multiple choice question calculated these opportunity costs for Country 1 and Country 2 for the two products these countries produce. Here are the results: Country 1 Opportunity cost to make one more necklace: 3 fishing poles Opportunity cost to make one more fishing pole: 1/3 necklaces Country 2: Opportunity cost to make one more necklace: 1/3 fishing poles Opportunity cost to make one more fishing pole: 2 necklaces

Country 1 should specialize in making necklaces and Country 2 should specialize in making fishing poles.

Which of the following is NOT one of the five characteristics of teams?

Each member of a team can function independently.

In recruiting and hiring, employers must comply with anti-discrimination laws. Violating these laws has legal consequences. Discrimination occurs when a person is treated unfairly on the basis of all of the following characteristics EXCEPT:

Education

You work at a supermarket four nights a week. Invariably, a few customers will rush in ten minutes before the store is supposed to close and not budge when the "store closing" announcement is made. Each night, you willingly stay late to ring out these last-minute customers so other employees can go home to their families. You don't get paid for this extra time. At raise time, however, you were very upset to learn that your co-workers got bigger raises than you did. You promised yourself that you would no longer stay late to help the others. From now, on you will leave when everyone else does. What theory of motivation best explains your behavior?

Equity Theory

Leaders should do all of the following to promote ethical behavior in their organizations EXCEPT _________________.

Establish ethics policies and expectations but avoid getting involved in their enforcement to remain objective

Overseeing a service organization puts special demands on managers, especially services requiring a high degree of contact with customers. Which of the following tasks are often more difficult for those running a service business than for those running a manufacturing operation?

Estimating demand

At some point in your career, you might be asked (or assigned) to lead a team. All of the following are skills you will need to be an effective team leader EXCEPT:

Give commands and control decision-making so decisions are made quickly and work gets done

Hertzberg divides work factors into two categories: motivation factors (those that are related to job satisfaction) and hygiene factors (those that are not strong contributors to job satisfaction but that must be present to prevent job dissatisfaction). According to Hertzberg, which of the following is NOT a motivation factor?

Good pay

Suppose your business idea is to offer hot air balloon rides for those graduating from college giving them a bird's eye view of the campus. Your "niche" is:

Graduating students who want to celebrate by taking a hot air balloon ride over campus

A patent from the U.S. Patent and Trademark Office grants you "the right to exclude others from making, using, offering for sale, or selling" the invention in the United States for twenty years. Which of the following statements about applying for a patent is NOT true?

The number of patents issued over the past decade has decreased by more than 50 percent because of the decline in the number of new high-tech companies.

Which of the following is NOT a characteristic of a business?

It provides social or educational services without concern for making a profit.

Your boss' request for a sales report is an example of ____________________communication. Showing a draft of the report to a co-worker is an example of ____________________communication. Sending the finished report to your boss is an example of ____________________________communication.

downward; lateral (or horizontal); upward

You are the purchasing manager for SAS, a software development company, which is very nice to its employees. One of your tasks is to purchase soft drinks that are provided free to employees. The sodas are purchased online by going to the "business customers" section of several soft drink companies. Rather than pay for the large volume of sodas purchased by check, you use a ___________________ to process your transaction and transmit all your purchasing documents.

electronic data interchange

You work on the "Peeps" production line at Just Born. Your boss is likely a ______________________ manager.

first-line

In producing large items, such as airplanes, manufacturers use a ___________________, in which the product stays in one place and the workers (and equipment) go to the product.

fixed position layout

You want your company to get into an international market quickly while taking only limited financial risks so you enter into a ____________________. This allows a foreign company to sell your products in exchange for a royalty fee.

international licensing agreement

If a manufacturer runs out of materials it needs for production then production stops. In the past companies dealt with this problem by keeping large inventories of materials on hand. This tied up a lot of money in inventory and added storage and insurance costs to their expenses. Companies learned that they must strike a balance between losing production time because the company runs out of materials, and wasting money because they are carrying too much inventory. The process of striking this balance is called ____________________________.

inventory control

Phil Knight, founder of Nike, earned a reputation as a ________________________leader by adopting a hands-off approach and providing very little direction to his subordinates.

laissez-faire

Most monopolies fall into one of two categories:

legal and natural

Burger King encourages its customers to customize their burgers through its slogan, "Have it your way." In contrast, when customers order burgers at McDonald's, employees pull a burger from a batch of burgers made at the same time with the same condiments. In producing burgers, Burger King is using a(n) ________________ approach and McDonald's is using a(n)___________________ approach.

make-to-order; make-to-stock

When it's clear that the problem won't go away, companies take responsibility and look for long-term solutions. This occurs in the _________ stage of corporate responsibility.

managerial

You are the operations manager for a mid-size manufacturing company in Seattle. You're responsible for estimating the quantity of materials used for production and determining when materials should be ordered. For years, you have relied on a Materials Requirement Planning (MRP) system to help you on this task. About six months ago you switched to a more sophisticated system called a(n) ________________ that goes beyond material planning to help monitor resources in all areas of the company.

manufacturing resource planning II

Many customers are dissatisfied with standardized products. They want goods that can be bought at reasonable prices, but they want their goods personalized to meet their individual tastes or needs rather than accept standardized products as they come off assembly lines. To meet the demand of these customers, many companies have turned to an approach called ______________________.

mass customization

Laws governing equal opportunity require that people must be hired on the basis of ________________ and not _____________________.

merit; gender

A vendor selling hotdogs and soda outside your dorm provides ____________ utility.

place

At Vermont Teddy Bear Company, bears being made move from one workstation to another. At each station, workers use specialized equipment to perform a particular step in the production process. The plant layout used by Vermont Teddy Bear Company is a _______________________.

process layout

Business people outside the United States often approach business meetings in ways that differ from those practiced in the U.S. Which of the following describes a way in which U.S. business people differ from other people around the world? In other words, which of the following statements is true?

Those from the U.S. tend to start and end their business meetings on time in contrast with business people from the Middle East and Latin American regions who are very casual about time.

Which of the following is NOT true about ethics, business ethics or corporate social responsibility?

To act ethically in business, it is sufficient to obey applicable laws and regulations.

At Just Born, high-volume marshmallow peeps are produced efficiently by people, equipment, or departments arranged in an assembly line-that is, a series of workstations at which already-made parts are assembled. The plant layout used by Just Born is a _____________________.

product layout

Companies increasingly assign representatives from various functional areas (engineering, accounting, marketing, finance, etc.) who work together as a __________________ throughout the product development process.

project team

Success is more likely to result from a truly remarkable product-something that grabs the attention of consumers. How does Seth Gordon, entrepreneur and marketing consultant, describe a truly remarkable product?

purple cow

An ethical dilemma can be described as a ______________________.

right vs. right decision

You are thinking of opening a pet grooming business in your city. In a conversation with an individual who runs a small pet grooming business, she was willing to share information on all your topics EXCEPT _____________, which she explained was proprietary information.

sales volume

If you want to assess whether inflation is going down or going up, you should look at changes in:

the consumer price index - CPI

The term laissez-faire means that:

the government should leave business activities to function according to the laws of economics

If the quantity demanded for 52-inch television sets is lower than the quantity supplied, we can expect that __________________.

the price of 52-inch television will decrease

All of the following are examples of topics investigated by those studying macroeconomic issues EXCEPT:

the price that college students are willing to pay for concert tickets

The best definition of sustainability as practiced by socially responsible companies is ______________________.

the principle of providing products today that do not compromise the ability of future generations to meet their needs

A supply curve shows the relationship between _______________.

the quantity of a product that sellers would be willing to sell at different prices, regardless of demand SUBMITNEXTView ResultsView ResultsRestart Quiz

So-called ___________________ leaders mentor and develop subordinates and provide them with challenging opportunities. They work one-to-one with subordinates to help them meet their professional and personal needs.

transformational

If the Federal Reserve is concerned about rising inflation, it will__________________.

use monetary policy to decrease the money supply and raise interest rates

_____________ costs vary, in total, as the quantity of goods sold changes but they stay constant on a per unit basis.

variable

Why does the United States government institute various trade restrictions, such as subsidies, tariffs, and quotas?

To help the United States produce goods to compete more favorably with foreign goods (called protectionism)

Which of the following has to be true for a company to break even (have no profit or loss)?

Total sales revenue must exactly equal all of your expenses (both fixed and variable)

As operations manager at Vermont Teddy Bear Company, you need to be able to quickly assess the status of projects. You do this using a Gantt Chart, an easy-to-use graphical tool that helps monitor a project's status. The Gantt Chart for an order of hiking bears shows several activities that have to be done in a specified order: cutting the bears' fur, stuffing and sewing the fur, cutting materials for the clothes, sewing the clothes, embroidering the t-shirts, cutting the accessories, sewing the accessories, dressing the bears, packaging the bears, and shipping the bears. Which of the following will occur if any of these activities fall behind schedule?

Unless the time is made up some place else in the schedule, the tasks of dressing the bears, packing the bears, and shipping the bears will be behind schedule.

In preparing PowerPoint slides for a business presentation, you should do all of the following EXCEPT:

Use complete sentences rather than just key words. It will make the slides easier to read.

You are a member of a Federal Bureau of Investigation (FBI) team which is in charge of hiring special agents. Five recent college graduates are being considered for only one position. Each of these individuals have completed an application, passed a battery of employment tests, were interviewed, passed a physical exam, and had positive reference checks. It is now time to pick the best of the five. The process of picking the right person for the job will _______________________.

Use information gathered through employment tests and interviews

Which statement about acting ethically is false?

Warren Buffet, the world's most successful investor, said he looks for three things [in a job candidate]. The first is personal integrity, the second is intelligence, and the third is a high energy level. But if you don't have the second (intelligence), the other two do not matter.

In planning a presentation, you need to ask yourself all of the following questions EXCEPT:

What do I know about the topic?

When is an item given by a supplier to someone in your manufacturing company considered a bribe rather than a gift?

When it is given for the purpose of influencing a business decision

Which of the following statement is NOT true about an oligopolistic market?

When one seller in an oligopolistic market lowers prices, others do not have to follow to remain competitive.

Total quality management (TQM), or quality assurance, includes all the steps that a company takes to ensure that its goods or services are of sufficiently high quality to meet customer needs. Successful total quality management requires companies to do all of the following EXCEPT:

When outsourcing core and noncore functions, relinquish control over quality to the vendor doing the work

You sell Legos, which are made in Denmark, in your toy shop. You just learned that Denmark's currency, the Danish Krone, just went up relative to the U.S. dollar. You would expect that the cost of the Legos:

Will go up

It is amazing what we can do to something as large as the atmosphere. The actions businesses can do to reduce air pollution include all of the following EXCEPT:

Work with local governments on measures companies can take to slow global warming in their geographical area

Water makes up more than 70 percent of earth's surface, and yet people and businesses continue to pollute our oceans, rivers, and lakes. Most contaminants to our bodies of water come from _______________.

agricultural fertilizer and pesticides, wastewater, raw sewage, and silt that make their way into the water system over time

You work as a chef at an expensive Italian restaurant. The chef tends to make decisions without seeking input from the other chefs. He expects the chefs to take responsibility for performing the required tasks without undue explanation. Most of those working in the kitchen dislike working for the head chef who follows a(n) ___________________________leadership style.

autocratic

When the government takes in more money in a given year (through taxes) than it spends, the result is a:

budget surplus

The vertical connecting lines in an organization chart show the firm's ________________________ which shows the authority relationships among people working at different levels of the organization (that is to say, they show who reports to whom).

chain of command

A document that describes the principles and guidelines that all employees must follow in the course of all job-related activities is called a _______________.

code of conduct

Suppose your business idea is to offer hot air balloon rides for those graduating from college giving them a bird's eye view of the campus. Your "market" is:

college students

Corporate social responsibility refers to the approach that an organization takes in balancing its responsibilities to its various stakeholders. These stakeholders include all of the following EXCEPT ______________.

competitors

If you are coming up with creative solutions to complex, sometimes ambiguous problems, you are using your _________________skills.

conceptual

Selling price per unit less variable cost per unit is called _____________________.

contribution margin per unit

When a manager measures results and compares the actual results with the planned results, the manager is performing the __________________ function.

controlling

A PERT diagram demonstrates that the only way you can complete a project faster is by saving time on the _______________________.

critical path

When the public made a connection between the rising level of obesity in the United States and a diet heavy in fat-laden fast foods, an owner of seven McDonald's responded, "We offer healthy choices. It is up to individuals to set limits and to be informed. McDonald's discloses nutritional information about its foods in its restaurants." When this statement was made, which stage of corporate responsibility was McDonald's in?

defensive

This week, Jodi's salon had sales of $5,000. Employees were paid $1,000, food costs were $1,500, and rent was $500. Profit for the week was:

$2,000

Every year companies launch about thirty thousand new food, beverage, and beauty products. Up to ___________ percent of these newly launched product fail.

90

Your college is likely to outsource all of the following services EXCEPT:

Admissions

About a year ago you began using the five-step control process in your organization. At the beginning of the process, you set standards by which performance would be measured. Now, three months later, you measured performance and compared actual performance with standard performance and identified a deviation. The reason for the deviation could be:

All of the above

As this chapter emphasizes, learning to work in teams is a skill you should develop while in college. Two students who have worked on a lot of team-based projects in college provide advice that includes which one of the following?

At the beginning of the project, draw up a team charter (contract) that includes the goals of the group, ways to ensure each member's ideas are respected, when your meetings will be held, and so on.

The twelve thousand employees of software maker SAS fall into the category of "happy workers." All of the following contribute to their being happy EXCEPT:

Being able to work from home four days a week

Some companies, such as the software maker SAS, have a very low rate of turnover - the permanent separation of an employee from a company. Other companies seem to drive good employees out. Given the negative impact of turnover (recruiting costs, temporary decline in productivity, training costs and lower morale among employees who have to take on heavier workloads), most organizations do whatever they can to retain highly qualified employees. Their efforts include all of the following EXCEPT:

Being unclear about what is expected of employees

Which corporate executive is alleged to have run a giant Ponzi scheme that cheated investors of up to $65 billion?

Bernie Madoff of Bernard L. Madoff Investment Securities

A plan enables a manager to take a business concept beyond the idea stage. Executing a plan includes all of the following steps EXCEPT:

Brainstorming alternative approaches to achieve your goals

The World Bank, which lends money for improvements in underdeveloped nations, divides countries into four income categories: high income, upper-middle income, lower-middle income and low income. Which of the following statements is NOT true?

China is in the low-income category.

When asked to indicate which of the following applies to them, most people put themselves into which of the following categories?

I'm mostly ethical

When you spot workers parading, holding signs outside a factory, school, or office building, they are likely:

Picketing

Many people receive financial rewards based on performance, whether their own, their employer's, or both. Which of the following forms of compensation is NOT based on performance?

Salary

If the number of new claims for unemployment insurance goes down, which of the following is TRUE?

The economy will likely expand in the future.

Which one of the following factors contributes to team cohesiveness (the attractiveness of a team to its members)?

The harder it is to get on a team, the happier the people who are already on it.

Which of the following statements about a monopolistic competition market is NOT true?

There are few sellers in a monopolistic competition market.

Which of the following statements is true about single individuals who have demanding careers?

They want work schedules that are predictable so they can plan personal commitments and social activities.

Companies are responsible for providing employees with an environment free from sexual harassment. Sexual harassment occurs when any of the following occurs EXCEPT:

When an employee requests sexual favors from another employee

You recently opened a shop in Los Angeles that sells European baby equipment. You purchased the equipment from a supplier in Sweden and had it shipped directly to your shop. You are a(n) ________________________.

importer

In calculating gross domestic product (GDP), the United States government does NOT include the following:

intermediate goods that will become components in other products

When the Chief Executive Officer (CEO) of Mary Kay, Inc. indicates that the company's purpose is "to enrich the lives of women around the world," the CEO is quoting the company's:

mission statement

A take-over threat by Mattel Toy Company forced the CEO of LEGO into action. The changes he made include downsizing the number of employees and cutting unprofitable product lines. This moved LEGO from the decline stage to the _______________________.

reinvention stage

Attending college is expensive. To cover your tuition and other costs, you work part-time as an assistant manager at the local one-screen movie theater. You have held this position for three years. Recently, you notice that the line of those buying tickets has been moving slowly. Since you just read about the five-step control process, you decide to use this approach to fix the "slow-line" problem. Your first step is to decide how many minutes each worker should take to service a ticket buyer. The figure you arrive at is called a(n)________________________.

standard

When Kellogg's wants to check to be sure each box of Raisin Bran cereal contains two scoops of raisins, it used a technique called ___________________________, which monitors production quality by testing a sample of output to see whether goods in process are being made according to predetermined specifications.

statistical process control

What stage of corporate responsibility has McDonald's advanced to?

strategic

Most likely you will be hired for your first job out of college based on your _______________ skills.

technical

A supermarket that is open 24 hours a day, 7 days a week is providing customers with _______________ utility.

time

You plan to open a store in Oregon close to Smith Rock State Park. Your store will sell hiking and rock climbing equipment and supplies to frequent visitors. You read that the park has about 500,000 visitors each year. You estimate that about 40 percent of the visitors are hikers or rock climbers. You expect that about 30 percent of these individuals will need to buy some type of equipment or other supplies. You hope to attract 20 percent of these individuals to your store during its first year of operations. How many customers do you predict will come into your store in the first year?

12,000

The make-up of the U.S. workforce has changed dramatically over the past 50 plus years. In the 1950s, more than 60 percent of the workforce was composed of white males. Today, white males make up ____________________ of the workforce.

34 percent

Approximately how many U.S. patents did Microsoft apply for in 2015?

3,000

Which of the following statements is NOT true about PERT charts?

A PERT chart identifies a critical path: the sequence of activities that will take the least amount of time to complete.

Communication can be defined as, "the process of transferring information from a sender to a receiver." You participate in dozens of information transfers every day. In fact, transferring information takes up:

70 percent of your waking hours

When the PowerSki was invented and made available for sale, it was considered a new-to-the-market product. Which of the following statements is NOT true about new-to-the-market products?

About 70 percent of products fall into this category.

Suppose your business idea is to offer hot air balloon rides for those graduating from college giving them a bird's eye view of the campus. Your "market segment" is:

College students who are graduating

Mark is the coach of his son's little league baseball team. Mark's brother just opened up a photography studio and needed to find some customers. Mark signs a contract with his brother to take pictures of his team as well as individual pictures of the team members. This action is best characterized as a ______________________.

Conflict of interest

Labor unions are an organized group of workers that bargains with employers to improve its members' pay, job security, and working conditions. Which of the following statement about labor unions is false?

If differences between the union and management cannot be resolved, unionized workers can use a tactic called a lockout to force management to agree to their demands.

Which of the following is NOT a step in the product development process?

Design an advertising campaign to promote the product

You are the manager of a Crocs shoe store in Honolulu. Business is booming so you hire a new worker to unload boxes of shoes and stack them in the storage room. You estimate that the worker can unload and place 25 boxes in an hour. After a few weeks, you do a time check on the worker and find that he can unload only 15 boxes an hour, 10 below what you expected. What should you do now?

Determine the reason for the 10-box deviation and take corrective action if needed

An idea turns into a business opportunity when you can answer "yes" to which of the following questions?

Does the product have commercial potential?

What communication methods did Chris Arnholt use to effectively communicate his ideas and practical specifications for the Razr?

Drawings and models sculpted out of cornstarch

Both you and your roommate are accounting majors, but she is one year ahead of you. You feel bad for her when you see her heading off to class carrying a huge bound Intermediate Accounting text. You were pleased to learn that the publisher has come out with an electronic version of the text because it means you won't have to carry a heavy accounting book around. The e-textbook is considered what type of product development?

Extension of existing product

As a functional area of business, ___________ involves obtaining funds for the company.

Finance

Brooke Collins decided to build a small factory and start a business that manufactures scooters designed for toddlers. Which of the following is NOT a factor of production for her business?

Finished scooters

The chief executive officer (CEO) of a large company discovered that some of his employees were sifting around in a competitor's dumpster looking for information that would give their company a competitive advantage in a business deal. When the CEO found out about the actions of his employees, he took which one of these actions?

Fired the manager running the espionage as well as his operatives

Let's say you are the chief executive officer (CEO) of Trimpers, an amusement park. Trimpers has only one location and provides only one service - amusement rides. You have three people reporting to you: the vice president of marketing, the vice president of finance, and the vice president of operations. Each of these three individuals has two people reporting to them. Your company's organization chart would most likely be drawn up using a:

Functional structure

When the United States wants to raise the price of foreign goods and make them less competitive with domestic goods, the most likely way to accomplish this is by:

Imposing a tariff on the foreign goods.

You are a waiter in the dining room of the Norwegian Dawn, a large cruise ship. You just learned that the social director for the ship wants the waiters to push the sale of raffle tickets during dinner in addition to all the other duties they perform, such as taking orders and serving meals. What job redesign strategy has the social director put into place?

Job enlargement

Let's say you are a manager in a large organization. Which of the following best describes the functions you will perform?

Planning, organizing, directing, and controlling

Which of the following would NOT be a factor you would consider in picking the location of a new software development company?

Proximity to customers

Brooke is able to motivate the members of her team to share the workload. She does this in part by helping each member of her team understand and appreciate the importance of his or her role on the team. In using her strong interpersonal skills to improve team "chemistry," she is taking on a:

Relationship-building role

What is the toughest part of problem solving?

Selecting the best option

In 2010, Meg Whitman, former chief executive officer (CEO) of eBay, left a lucrative business career to run for governor of California. Which need level would Maslow say Whitman was trying to fulfill by running for governor?

Self-actualization

Although the strategic planning process begins at the top of the organization, the planning process does not end there. The execution of the strategic plan involves managers at all levels and follows this order:

Set goals, create objectives, develop tactical plans, operationalize plans

In reporting the wrongdoings at WorldCom to the company's board of directors, Cynthia Cooper became a whistle blower, an individual who exposes illegal or unethical behavior in an organization. As a result of her actions, all of the following occurred EXCEPT:

She was fired

Under ______, industries that provide essential services may be government owned.

Socialism

Developing countries can look to two organizations to help them become active participants in the global marketplace. These two organizations are:

The International Monetary Fund (IMF) and the World Bank