BUSM 501 Midterm Exam Chapters 3,6,8

T/F Mentoring is a form of off-the-job training.

F

Which of the following is NOT one of the main activities for a human resource manager? A) Coordinating marketing and production activities B) performance planning and evaluation C) training and developing employees. D) recruiting and selecting employees.

A) Coordinating marketing and production activities

The world's largest bank. Deutsche Bank set as its objective to make its name more recognizable in the United States. The success of its decision to sponsor a PGA golf tournament to accomplish this organizational objective will ultimately depend on which management function. A) Planning B) Organizing C) Communicating D) Controlling

A) Planning

T/F A manager's ability to operate in diverse cultural environments depends primarily on his or her human relations skills.

F

T/F Not-for-profit organizations have the same goals as for-profit organizations.

F

T/F Telecommunications equipment manufacturers in the United States sell their products to people who live in Canada. To Canadians, telecommunications equipment is an export.

F

T/F Unemployment compensation pays employees for lost work time caused by work-related injuries.

F

Hudson Kling mows yards during the summer. Which of the following is an example of revenue for Kling? A) The $10 tip Mrs. Pierre gave him for doing such a fine job of mowing her yard B) the new pair of shoes he had to buy because he accidentally ran over a pair with his mower. C) a tire repair kit and extra air filters for the lawn mower D) a trip to the lawn mower repair shop to get his machine's blade sharpened.

A) The $10 tip Mrs. Pierre gave him for doing such a fine job of mowing her yard

Jon Schwartz is an electrical engineer. He works as a temporary worker for a contracting company that builds germ-free rooms for university researchers. While he likes the extra income, he would much rather stay home and work on the novel he is writing. His wife earns a six-figure income, so money is not an issue. Schwartz is an example of a(n): A) contingent worker B) white-collar escapee C) outsourced worker D) conditional employee

A) contingent worker

Human resource management is the process of _____ people to achieve organizational goals. A) doing all the above B) hiring C) motivating D) developing

A) doing all the above

The _____ is the value of one currency in terms of another. A) exchange rate B) balance of trade C) balance of payments D) investment exchange

A) exchange rate

Another factor influencing business ethics is _____, or what is fair according to prevailing standards of society. A) justice B) righteousness C) equity D) utilitarianism

A) justice

Reader's Digest Association, Inc., has published Reader's Digest magazine for over 80 years, and many believe the publication is dated and can no longer attract many readers. They believe _____ plans are needed to revamp the magazine's content, editorial staff, and readership. A) strategic B) tactical C) supervisory D) operational

A) strategic

The U.S. has one of the very few areas in the world where kaolin can be mined. Kaolin is a necessary ingredient in many products ranging from stomach medication to paper. The U.S.-produced kaolin is sold all over the world. Kaolin is a(n) _____ for the countries that purchase it A) export B) import C) tariff D) embargo

B) import

After the World Cup soccer games, Puma, the German sporting goods manufacturer, increased its end-of-year sales target by $641 million. Puma developed _____ plans with the goal that extra sales would come from new product categories the company was introducing, the sale of soccer equipment, and the consolidation of several subsidiaries. A) functional B) tactical C) supervisory D) procedural

B) tactical

A country that imports more goods than it exports is said to have a(n): A) positive trade surplus B) favorable balance of trade C) unfavorable balance of trade D) positive balance of payment

C) unfavorable balance of trade

_____ is the process of hiring, developing, motivating, and evaluating people in order to achieve organizational goals. A) Production management B) Operations management C) Developmental management D) Human resource management

D) Human resource management

How has terrorism affected global trade? A) Terrorism has resulted in merchandise being moved more quickly across nations. B) Terrorism has led to tighter emigration policies. C) Terrorism has not affected global trade. D) Terrorism has curtailed the liberal inflows of skilled and blue-collar workers.

D) Terrorism has curtailed the liberal inflows of skilled and blue-collar workers.

Management involves: A) organizing B) planning C) controlling D) all the above

D) all the above

T/F Business owners and managers have a great deal of control over the internal environment of business, which covers the day-to-day business decisions.

T

T/F Freida Bida lost her job because of a recession and would be described as experiencing cyclical unemployment.

T

T/F Having a global vision simply means having a willingness to sell outside one's national borders if, and when, the opportunity arises.

T

T/F Human rights include an individual's right to life, to freedom, and to the pursuit of happiness.

T

T/F Leadership is the process of guiding and motivating others toward the achievement of organizational goals.

T

T/F Management is the process of guiding the development, maintenance, and allocation of objectives.

T

T/F Mines in Colombia produce emeralds and sell them to jewelers in the United States. To Colombia miners, emeralds are an export.

T

T/F Planning is the process of deciding what needs to be done to achieve organizational objectives; identifying when and how it will be done, and determining by whom it should be done.

T

T/F The most basic responsibility of all businesses is their economic responsibility.

T

T/F The opposite of free trade is protectionism.

T

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

T