ch 16 learnsmart
If operating income is $20,000, operating assets are $100,000, and desired ROI is 15%, what is residual income?
$20,000 - ($100,000 x 0.15) = $5000
If operating income is $20,000, operating assets are $50,000 and desired ROI is 30%, what is residual income (RI)?
$20,000 - ($50,000x0.3) = $5,000
Assume operating income is $40,000, and operating assets are $100,000. What is return on investment?
$40,000/$100,000 = 40%
What are the categories in a responsibility center?
+Cost center +Investment center +Profit center
What are benefits of a decentralized organization?
+Improves performance evaluation +Encourages upper-level management to concentrate on strategic decisions
Why do companies typically use operating income and assets as opposed to net income and total assets in calculating return on investment?
+Operting income and operating assets are more controllable than net income and total assets +Net income and total assets do not measurable performance as accurately
Decentralization encourages managers to:
+engage in long-term planning +delegate authority down the chain of command
Return on investment and residual income may be calculated for
+segments of the company +speciic investment opportunities +individual managers +the company as a whole
Return on investment and residual income may be calculated for
+specific investment opportunities +the company as a whole +segments of the company +individual managers
Form utility Time utility Place utility Possession utility Service utlity
- Assembling a computer from components - Internet websites - Gas stations - 48 - month auto loans - Software updates
Which items are typically considered part of a firm's capital budget?
- Equipment - Buildings
Limited Function wholesaler - Rack Jobbers - Cash and Carry - Drop Shippers
- Furnish shelves full of merchandise and set up displays - Offered limited assortment to retailers to be paid for and taken at time of purchase - Arrange shipment directly from producers to buyers
In which two ways do market controls affect pricing?
- Price competition has the effect of controlling productivity and performance - Price becomes an indicator of the value of the good or service
The marketing function known as place provides distribution from the producer to the consumer and includes which of the following activities?
- Shipping - Inventory Management - Warehousing
Which of the following could be a disruptive innovation?
- a business model - a product - a service
Marketing intermediaries who never take title to the goods they handle are:
- agents - brokers
Some strategies of effective listening include
- ask questions to make sure you understand - use nonverbal cues to demonstrate interest - focus on the speaker
The primary functions of agents and brokers are to:
- bring buyers and sellers together - assist in negotiating an exchange
A channel of distribution ensues which of the following:
- close of money and title to goods, of communication throughout the channel, and correct assortment and quantities available as needed
drop shippers typically handle products such as :
- coal - lumber
Disadvantages of communicated via email include
- coworker connections decrease - emotions may be miscommunicated - other forms of communication decrease
A balanced scorecard comprises which of the following sets of performance measures
- customer satisfaction - learning and growth - financial - business processes
Which steps may be included in an external audit?
- determining where a competitor is strong or weak - evaluating other organizations that might be subject to merger or acquisition - investigating the soundness of a potential supplier
The benefits of using a selective distribution strategy include:
- ensuring producers of quality service for customers - ensuring producers of a quality sales force
The functions of eye contact include
- express emotion - monitors feedback - signals beginning and end of a conversation
Marketing intermediaries can be eliminated but the function they perform cannot because:
- functions such as assortment and transportation are still needed - title has to be transferred from producers to consumers
Difficulties associated with online retailing include:
- handling complaints and returns - providing personal help
Supply-chain management adds value to the channel of distribution by:
- increasing efficiency - lowering costs - providing an overview of the entire supply chain
In regard to the ability to cope with a changing environment, what characteristics of small start-up businesses are often lacking in larger corporations?
- individual creativity - shared leadership - individual responsibility
Disadvantages brought about by the digital age
- loss of security - lack of privacy - cell phone abuse - too many emails
Which of the following might a manager do while taking action to correct problems and reinforce successes?
- make substantial changes to one of the company's processes - discipline an employee - adjust the marketing strategy
Which of the following are types of control systems?
- market - clan - bureaucratic
organizations that assist in moving goods and services from producers to businesses (B2B) from businesses to consumers (B2C) are called _____
- marketing intermediaries - middlemen
Which of the following functions are included in supply-chain management?
- movement of raw materials - management of information throughout the supply chain - control of parts, work in progress, and finished goods
What are the three basic stages to manage resistance during a change in the workplace?
- moving - refreezing - unfreezing
A large part of the cost of distribution in storage. Storage costs include:
- operating the warehouse facility - the cost of the warehouse facility - the cost of equipment to move goods in the warehouse
Which tools are often used to measure performance levels inside an organization?
- oral reports - personal observations - written reports
Which of the following use a distribution warehouse?
- packages for overnight delivery - flowers - dairy products
Those in the supply chain who provide goods to consumers include:
- part suppliers - farmers - manufacturers
Which of the following are terms for the players in acquiring and developing new technologies?
- product champion - technical innovator
Which of the following can be evaluated during a company's internal audit?
- production efficiency - earnings growth - sales effectiveness - energy
Agents and brokers usually do not :
- provide credit - assume risks of ownership - carry inventory
A full-service wholesaler provides which of the following functions
- provides capital and credit - assumes risk by taking title - provides a sales force
The characteristics of a rack jobber include
- retaining title to the goods - displaying the products - sharing profits with the retailers when goods are sold
What forces are examples of bureaucratic control?
- standards - legitimate authority - formal rules - hierarchy
Which of the following characteristics describe an effective control system?
- standards should be objective - the system should encompass all elements that affect performance significantly - it should be hard to sabotage or falsify the data being monitored
Some strategies for writing for effectively includeL
- start with your purpose - list ideas from least controversial to most controversial - list your ideas from most important to least important
Activity-based costing requires which of the following?
- that managers spread expenses across various employee activities - that employees describe what they do every day
Which of the following factors are important in assessing market receptiveness?
- the company should be able to apply the new technology in a valuable way - the technology must provide something that customers need
Accurate statements concerning body movements and gestures as forms of nonverbal communication:
- the gender of the communicator may impact how body movements and gestures are interpreted - closed body positions tend to be interpreted as being defensive
Which groups are likely to develop new technology?
- the government - universities - manufacturers
Intermediaries who provide information utility do so through:
- the internet - salespeople - newspaper ads
Buying frozen peas in the Northeast in January is an example of which types of utility
- time - place
The benefits of better tracking technology include:
- using RFID chips to track goods in transit - using bar codes to compare prices
Materials handling is the movement of goods:
- within a warehouse - to workstations in the factory - from warehouse to factory floor
Rank the control process
1) Setting performance standards 2) Measuring performance 3) Comparing performance against the standards and determining deviations 4) Taking action to correct problems and reinforce successes
Match the correct form of marketing utility on the left to an example on the right. 1. Form utility 2. Time utility 3. Place utility 4. Possession utility 5. Service utility A. Software update B. 48-month auto loans C. Internet websites D. Gas stations E. Assembling a computer from components
1. = E. 2. = C. 3. = D. 4. = B. 5. = A.
Using the logistics-system design matrix, rank the following transportation modes on the volume axis, from highest at the top to lowest at the bottom.
1. Water 2. Rail 3. Highway 4. Hand delivery
According to Phil Theibert, what are the three rules of an effective speech?
1. tell them what you are going to say 2. say it 3. tell them what you said
Two types of informal communication channels:
1. the office grapevine 2. management by wandering around
Which development process incorporates a great deal of feedback from clients as the product is being developed? A. Agile design B. Cross-function innovation C. IT and service development D. Organizational learning
A. Agile design
What is the term for the process of comparing an organization's practices and technologies to that of others within the same industry? A. Benchmarking B. Innovation C. Scanning D. Feasibility
A. Benchmarking
In which state must people accept that their past ways of doing things are obsolete? A. Unfreezing B. Freezing C. Span of management D. Span of control E. Refreezing
A. Unfreezing
The retail distribution strategy that sends products to only one retail outlet in a geographic area is: A. exclusive B. convenient C. intensive D. selective
A. exclusive
Logistics is about the physical movement of materials through the supply chain. An equally important part of the logistics systems is to: A. have accurate information on the location of materials, finished goods and transportation options B. know what the customer is doing with the product and whether it meets his or her requirements C. manage the sales price of the finished product D. offer after sale warranties and service
A. have accurate information on the location of materials, finished goods and transportation options
The act of instituting a change (and the second step in the process of managing resistance) is called __________. A. moving B. refreezing C. unfreezing D. freezing
A. moving
___ helps an organization recognize streams of activity and assign costs according to the time spent on particular activities
Activity-based costing
__________ is a technique in change management that involves identifying the specific forces that will drive people toward change. A. Unfreezing B. Force-field analysis C. Evolution assessment D. Organization development
B. Force-field analysis
When raw materials, parts, and other inputs are changed into finished goods such as shoes and cars, it is done by: A. logistics B. factory processes C. marketing communications D. reverse logistics
B. factory processes
A change in method or technology is called ___________. A. management B. innovation C. change management D. technical evolution
B. innovation
Seasonal goods such as Christmas or Thanksgiving decorations would be held in a(n): A. container yard B. storage warehouse C. distribution warehouse D. intermodal transportation warehouse
B. storage warehouse
RFIDs use which type of technology to track goods during the logistics process? A. Telephone tracking systems B. Bar codes C. Radio frequency identification tags D. Scanner systems
C. Radio frequency identification tags
Which form of logistics is being used when a customer sends a product back to the manufacturer because of defects or to have it recycled? A. Outbound logistics B. Inbound logistics C. Reverse logistics D. Materials handling
C. Reverse logistics
_________ organization change involves introducing and sustaining multiple policies practices and procedures across multiple units and levels. A. Fundamental B. Sweeping C. Total D. Comprehensive
C. Total
Sony Betamax was technologically superior to VHS, but VHS became more popular, and Betamax was discontinued due to poor sales. Betamax had issues with _____________. A. globalization B. innovation C. economic viability D. technological feasibility
C. economic viability
Decisions about technology must balance internal strengths and weakness with external ___________ and ___________. A. management; core competencies B. technology; innovation C. opportunities; threats D. threats; innovation
C. opportunities; threats
When an outside firm is used to move goods from one place to another, it is: A. direct marketing B. an administered distribution system C. third-party logistics D. first-party logistics
C. third-party logistics
The ___ acts as a voice for technology in the top management team and identifies ways that the technology can support the company's strategy
CTO
Which of the following is a technique for locating single facilities that considers the existing facilities, the distances between them, and the volumes of goods to be shipped?
Centroid method
Agents, brokers, wholesalers, transportation companies, and retailers who together move goods from producers to consumers form a path called a _____ of _____
Channel of distribution
_________ can be caused by absence of a visible crisis, too many visible crisis, too many visible resources, employees who focus on narrow goals, and a culture that discourages open communication. A. Managerial failure B. Tight-knit employee groups C. Urgency D. Complacency
D. Complacency
__________ means expanding your horizons by exploring, discovering, and taking action to improve yourself throughout your career. A. Change agents B. Environmental sustainability C. Force field analysis D. Continuous learning
D. Continuous learning
A development project is an intense organizational push to do what? A. Clarify the key technologies and their feasibility in the organization. B. Develop strategies to create economic viability of new products. C. Expand on the capabilities and appeal of an existing product by adding some kind of new technology to it. D. Create a new product or process based on technological innovation.
D. Create a new product or process based on technological innovation.
The main job of a(n) ___________ structure is to maintain orderliness and productivity, which restricts innovation. A. organic business B. organizational C. small business D. bureaucratic
D. bureaucratic
In the assessment of external technological trends, ________ seeks to discover what is possible and what is being developed. A. benchmarking B. pacing C. competitive monitoring D. environmental scanning
D. environmental scanning
When truck trailers are placed on ships to travel long distances at lower rates, it's called: A. dual shipping B. piggyback C. birdback D. fishyback
D. fishyback
The retail distribution strategy that sends products to only a few preferred retailers in an area is: A. exclusive distribution B. quality distribution C. intensive distribution D. selective distribution
D. selective distribution
The recognition of a performance gap is an important contributor to the __________ stage of managing resistance. A. proactive B. total change C. reaction D. unfreezing E. moving
D. unfreezing
A marketing activity such as telemarketing or catalogs that directly links the manufacturer or intermediaries with the ultimate consumer is:
Direct marketing
During the speaker's presentation, Angelina took detailed notes and tried to concentrate on the main points of the presentation. What listening style did Angela display?
Discerning style
The chancellor of the university sent a memo to the faculty, advising them that the governor would be speaking at the university and encouraging them to attend. This is an example of ________________ communication
Downward (one way of vertically communicating)
Refreezing is __________. A. establishing a vision of where a company is heading B. establishing a vision of where a company ought to be heading C. breaking out of an inappropriate organizational culture D. an inappropriate organization strategy for the new economy E. strengthening the new behaviors reflective of a chosen strategic change
E. strengthening the new behaviors reflective of a chosen strategic change
True or false: The medium is any disturbance that interferes with the transmission of a message
False. NOT medium BUT noise
Actual costs are less than standard costs, actual sales exceed expected sales
Favorable
______________ communication channels are those that follow the chain of command and are recognized as official
Formal
Which of the following terms describes a closed facility into which foreign goods can be brought without being subject to the payment of normal import duties?
Free trade zone
The area of logistics that involves bringing raw materials, packaging, other goods, and services, and information from suppliers to producers is ______ logistics
Inbound
The distribution strategy that puts the products into as many outlets as possible is a _____ distribution strategy
Intensive
When a firm decides to combine multiple modes of transportation to complete a single long-distance movement of freight, _____ shipping is being used
Intermodal
Incurs expenses, generates revenues, and is responsible for the investment of capital
Investment center
Which of the following is not of the types of techniques used by companies when choosing a plant location?
Location analysis method
The framework used to describe logistics processes is which of the following?
Logistic-system design matrix
An advantage of participation in multilevel marketing for those who do the selling is:
Lost cost of entry
What affects return on investment (ROI)?
Margin and turnover
What is the second step in the control process?
Oral reports; measuring performance
The area of logistics that manages the flow of finished products and information to business buyers and ultimate consumers is:
Outbound logistics
According to the logistics-system design matrix, which of the following modes of transporting products is limited to liquids and gases?
Pipelines
Oliver Co. increased sales from $100,000 to $150,000 while controlling expense growth so that operating income increased from $30,000 to $35,000. Assuming investment in operating assets remains constant at $50,000, what is the effect on ROI?
ROI before = $30,000/$50,000 = 60% ROI after - $35,000/$50,000 = 70% ROI increased from 60% to 70% as a result
Which method of transportation carries the largest percentage by volume of all goods shipped within the United States?
Railroads
In the communication process, the person for whom the message is intended is the
Receiver
Which form of logistics is being used when a customer sends a product back to the manufacture because defects or to have it recycled?
Reverse Logistics
Which distribution strategy sends products to few preferred retailers in a geographic area?
Selective
Sarah emails Joyce to let her know about a job opening. What is Sarah's role in the communication process?
Sender
Which type of utility provides fast, friendly assistance during and after a sale, as well as offering training in product usage over time?
Service
During which step in the top down reading process does the reader look for the essence of the material in a paragraph? This is similar to the survey step in the SQ3R process.
Skim for main ideas
Which step in the control process measures performance?
Step 2
___________ is the systematic application of scientific knowledge to yield products, processes, or services.
Technology
Firms that use non-store marketing with toll-free numbers to supplement online or catalog sales are utilizing _____
Telemarketing
The ________________ reading strategy has these five steps: 1. rate the reason to read 2. question and predict answers 3. survey the big picture 4. skim for main ideas 5. summarize
Top-down
Which of the following terms describes a group of countries that agree on a set of special arrangements governing the trading of goods between member countries?
Trading bloc
A special linear programming method that is useful for solving problems involving moving products from several sources to several destinations is known a which of the following?
Transportation method
T/F Services typically have multiple sites to maintain close contact with customer.
True
T/F Special consolidation warehouses are used when shipments from various sources are pulled together and combined into larger shipments with a common destination.
True
Actual costs exceed standard costs, actual sales are less than expected sales
Unfavorable
Brad sends an email to his boss, asking for permission to attend a training seminar in Houston. This is an example of _______________ communication
Upward (which is one way of vertically communicating)
What is the primary disadvantage of using residual income as a performance measure?
Uses absolute dollars, so it is dependent on the size of the investment base
Which of the following would use a distribution warehouse? a. Dairy products b. Holiday decorations c. Flowers d. Packages for overnight delivery
a. Dairy products c. Flowers d. Packages for overnight delivery
The process of innovation requires a fluid, flexible project structure. What are the drawbacks of such a structure? a. Disruption of normal business b. Unpredictable profits c. Inefficiency d. Restricted thought and action
a. Disruption of normal business b. Unpredictable profits c. Inefficiency
What are the four key factors that lead organizations to sustained success? a. Execution includes good people with the authority to make decisions. b. Strategy should be focused on customers. c. Structure should make the organization easy to work in. d. Venture capital should be ethical and obtainable. e. Culture should motivate and empower.
a. Execution includes good people with the authority to make decisions. b. Strategy should be focused on customers. c. Structure should make the organization easy to work in. e. Culture should motivate and empower.
Which of the following are advantages of benchmarking against potential competitors in other countries? a. Overseas organizations may be more open to sharing information. b. Firms may learn of base technologies that everyone is using. c. Companies might discover buyers for their own outdated technologies. d. Firms might find key technologies they can easily import.
a. Overseas organizations may be more open to sharing information. d. Firms might find key technologies they can easily import.
When a supermarket has frozen peas in the Northeast in January, it is an example of which types of utility? a. Time b. Place c. Form d. Possession
a. Time b. Place
Which factors are necessary for sociotechnical systems to be most successful? a. Workforce empowerment b. Small work groups c. Less technology d. Limited bureaucracy
a. Workforce empowerment b. Small work groups d. Limited bureaucracy
Materials handling is the movement of goods: a. from warehouse to factory floor b. to workstations in the factory c. within a warehouse d. from customers back to the factory
a. from warehouse to factory floor b. to workstations in the factory c. within a warehouse
Select the six forms of utility. a. information b. service c. form d. place e. shape f. time g. possession
a. information b. service c. form d. place f. time g. possession
Today's logistics require sophisticated hardware and software systems to: a. provide information on the movement of good in real time b. relay inventory information to all in the supply chain c. provide financial and accounting statements d. transmit consumer needs through the system to suppliers
a. provide information on the movement of good in real time b. relay inventory information to all in the supply chain d. transmit consumer needs through the system to suppliers
Activities associated with possession utility include: a. providing credit to buyers b. transferring ownership from sellers to buyers c. delivery services of purchased goods d. design and manufacturing
a. providing credit to buyers b. transferring ownership from sellers to buyers c. delivery services of purchased goods
Railroads are the best way to ship bulky items such as commodities, autos, and heavy equipment because, compared to other forms of transportation, railroads: a. reach many locations b. are able to handle large quantities c. are high in flexibility of handling products d. cannot be combined with other modes or transport
a. reach many locations b. are able to handle large quantities c. are high in flexibility of handling products
What are the three basic stages to manage resistance during a change in the workplace? a. refreezing b. moving c. unfreezing d. explaining
a. refreezing b. moving c. unfreezing
Which of the following are reasons for people to resist change within an organization? a. surprise b. profit c. timing d. inertia
a. surprise c. timing d. inertia
The benefits of better tracking technology include: a. using RFID chips to track goods in transit b. increasing inventory costs c. using bar codes to compare prices d. higher prices for consumers
a. using RFID chips to track goods in transit c. using bar codes to compare prices
Which procedure is used to verify accounting reports and statements?
accounting audit
The process of actively decoding and interpreting verbal messages is known as ____________ ___________________
active listening
Flexible budget variances occur due to differences in standard and ________________ per-unit amounts.
actual
Companies that take the current industry structure and its future evolution, as "givens" are known as ___
adapters
A distribution system where producers manage all of the marketing function at the retail level is a _____ ______ ______
administered distribution system
Because it is very expensive, only a small proportion of shipping goes by _____________.
air
Teleworking has been adopted to replace the term telecommuting because it represents the idea of working from
anywhere
Listening for amusement or pleasure is what style of listening?
appreciative style
A balance sheet shows the financial health of a company at a specific time and reports
assets, liabilities, and stockholder's equity
The marketing function that provides place utility or distribution from the producer to the consumer includes which of the following activities? a. Advertising b. Warehousing c. Shipping d. Inventory management
b. Warehousing c. Shipping d. Inventory management
More accurate tracking technology developed by specialized logistics firms can: a. design production equipment more efficiently b. maintain specialized databases on international requirements c. provide information comparing transportation costs d. provide needed information on laws and regulations
b. maintain specialized databases on international requirements c. provide information comparing transportation costs d. provide needed information on laws and regulations
Intermediaries who provide information utility do so through: a. product design b. salespeople c. newspaper ads d. the Internet
b. salespeople c. newspaper ads d. the Internet
Marketing intermediaries perform the six marketing utilities by getting products and services to consumers: a. at much higher prices b. when and where they are wanted c. in the form they are wanted d. at affordable prices
b. when and where they are wanted c. in the form they are wanted d. at affordable prices
A way that traditional retailers can compete with online retailers is to:
be so efficient they can beat them on cost
What is the term for the process of comparing an organization's practices and technologies to that of others within the same industry?
benchmarking
A traditional retailer store that has added internet outlets is called a ___ and ____ store
brick and click
An agent or broker:
brings sellers and consumers together
The master budget might also be thought of as the
budget of budgets
When an organization uses ___ control, it compares results to corresponding budget data and resolves any problems
budgetary
___ establishes relationships among feedforward control, concurrent control, and feedback control
budgetary control
Technological methods currently in use in logistics systems to track goods include: a. time and motion studies b. PERT diagrams c. RFIDs d. bar codes
c. RFIDs d. bar codes
The wholesalers who serve mostly small retailers by offering a limited assortment of products are:
cash-and-carry wholesalers
The type of retailer that sells a huge variety of one type of product to dominate one type of goods is a:
category killer
What type of control is based on mutual respect and individual responsibility?
clan control
The transfer of information and understanding from one person to another is known as
communication
Trying to determine the rationale of the speaker's argument is what style of listening?
comprehensive style
___ used while plans are being carried out
concurrent
Honestly assessing the reasons behind your successes and failures, constantly analyzing issues and possible solutions, and taking action to make your plans come to fruition are ways to improve your competitive advantage through ___ learning
continuous
The type of distribution system in which intermediaries are independent but agree to cooperate are participating in a:
contractual distribution system
The controllability concept states that managers should only be evaluated based on revenues and costs that they ______
control
The controllability concept states that managers should only be evaluated based on revenues and costs that they ____________.
control
___ is any process that directs the activities of individuals toward the achievement of organizational goals
control
An establishment that sells food and other frequently needed items at convenient locations and may be open all night is called a _______ store
convenience
The type of distribution system that is owned by the manufacturer throughout the channel of distribution to the retail stores is a:
corporate distribution system
An organizational unit that incurs expenses, but does not generate revenue, is called a(n) _________ center.
cost
The difference between the cost on the static budget and the cost on a flexible budget based on actual volume is a(n) ___________________ volume variance.
cost
What type of budget is used for departments such as human resources, which have expenses but no income?
cost
A development project is an intense organizational push to
create a new product or process based on technological innovation
Interpreting and trying to make sense of the message is called ___________
decoding
With the six sigma control process, the goal is zero ___
defects
When trust is lacking between two people communicating with each other, the individuals tend to become _______________ rather than focus on the meaning of the message.
defensive
In a decentralized organization, decision-making authority is
delegated to individuals responsible for managing specific organization function
A ____ store carries a wide variety of products such as clothes, furniture, and housewares, usually higher prices than discount stores
department
A house party where those invited are sold merchandise such as jewelry, vacuum cleaner, or cosmetic is an example of the type of non store retailing known as ____ selling
direct
An establishment thats sells a wide variety of products at lower prices than a department store but does not require membership is called a _____ store
discount
A wholesaler who solicits orders from retailers and other wholesalers and then arranges to have the merchandise shipped directly from the producer to the buyer is a:
drop shipper
Sony Betamax was technologically superior to VHS, but VHS became more popular, and Betamax was discontinued due to poor sales. Betamax had issues with ___
economic viability
___ tells whether there is a good financial incentive for adopting a technological innovation
economic viability
An _____________ communicator transmits his/her message accurately in the least time
efficient
Selling goods and services to ultimate consumers over the Internet is known as ____ retailing
electronic
Soft skills refer to the use of ________________ in communication
emotion
Focusing on the speaker's feelings is what style of listening?
empathic style
A major factor in the ease of introducing a new technology is ___ cooperation
employee
In order to establish reasonable standards and gain employee acceptance, ___
employees should be allowed to participate in setting standards
Translating a message into understandable symbols or language for transmission is known as
encoding
A(n) ___ devises new products or finds ways to revise old products
entrepreneur
The retail distribution strategy that sends products to only one retail outlet in geographic area is:
exclusive
Bob sends information about his company's new product line to a potential customer. This is an example of _____________ communication
external
Tamika emails a supplier, asking for a price on a product. Which type of formal communication is this?
external
What is the main thing a company must allow if innovation is to thrive?
failure
Organizations can use individual-level market controls to influence the wages employees expect to receive and the rate organizations are likely to pay
false
True or false: effective listening is an innate skill; it cannot be learned
false
True or false: writing is not important for a career in management
false
Assessing the limitations of a technology is known as determining the technological ___ of the innovation
feasibility
Samantha sent an email to Joyce letting her know about a job opening. Joyce quickly responded with an email, thanking Samantha. Joyce's email is an example of _____________
feedback
___ corrects deviations from the acceptable standard after they arise
feedback
___ used before operations begin
feedforward
Supply-chain management adds value by increasing efficiencies and coordinating activities from the source of raw materials to completion of the ______ ______
finished goods
The difference between actual figures and figures on a flexible budget based on actual volume is a(n) ____________ budget variance.
flexible
A budget that shows revenues and costs at a variety of volume levels is a
flexible budget
A warehouse club is a retailer that sells:
food and general merchandise and may require payment of a membership fee to shop there
___ is a technique in change management that involves identifying the specific forces that will drive people toward change
force-field analysisi
A butcher who cuts a larger piece of beef into steaks is an example of _____ utility
form
A butcher who cuts a larger piece of beef into steaks is an example of ___________ utility.
form
A manufacturer who assembles the components of a computer for sale is providing which form of utility?
form
When a franchise agrees to all of the conditions set forth by a franchisor, he or she has entered a ______ system
franchise
An organization that puts many small shipments together for different companies to create a large, cost-effective shipment is a:
freight forwarder
Marketers who put many small shipments together for different companies to create a large, cost-effective shipment are considered a(n) ____________ _____________.
freight forwarder
In addition to combining small shipments to create cost-effective loads, ____________ ___________ may also offer customs assistance and warehousing.
freight forwarders
A merchant who performs all of the service functions is know as a _____ _____ wholesaler
full-service
A profit center
generates revenues and incurs expenses
The _________________ is the unofficial communication system of the informal organization, often a network of gossip and rumor.
grapevine
Alexis sends a text message to her coworker, asking her to verify the time of a meeting with a client. This is an example of _____________ communication.
horizontal
Suzie sends an email to a coworker, asking if she could cover her shift. Which type of formal communication is this?
horizontal
Thieves hijack your name and identity and use your good credit rating to obtain cash or make purchases. This is known as
identity theft
Sometimes employees resist change because they feel comfortable and happy doing things the old way. This is called
inertia
The two-way flow of communication between marketing participants is called _____ utility
information
A change in method or technology is called ___
innovation
The distribution strategy that puts the product into as many outlets as possible is a(n) ____________ distribution strategy.
intensive
Activities or tasks associated with _____ cannot be eliminated from the process of getting goods to consumers
intermediaries
Marketing _____ assist in moving goods and services in either B2B or B2C channels of distribution
intermediaries
When a firm decides to combine multiple modes of transportation to complete a single long-distance movement of freight, ____________ shipping is being used.
intermodal
A manager's attempt to assess her organization's planning, organizing, leading, and control processes is referred to as a(n) ___ audit
internal
Managers conduct ___ audits to measure the effectiveness and efficiency of multiple systems within organizations
internal and external
All functions concerned with the movement of materials and finished goods on a global scale, is termed?
international logistics
A brick-and-click store:
is an existing retail store that adds online outlets
During the first staff meeting after Black joined the company, he was completely confused by his coworker's repeated references. Black experienced which barrier to communication?
jargon
Successfully managing change requires shared ___
leadership
Successfully managing change requires shared ____________.
leadership
An example of an open body position
leaning backward
Wholesalers who perform only a few functions but do them especially well are:
limited-function wholesalers
______________ style refers to a person's characteristic speaking patterns
linguistic
The activity that controls the planning, implementing, and controlling of the physical floe of materials and information from points of origin to points of consumption to meet customer requirements at a profit is:
logistics
When an organization asks itself aobut whether to acquire new technology from an outside source or develop it is known as a "___ or ___" decision
make; buy
Placing too much emphasis on short-term income and profits instead of pursuing a longer-term strategy is known as ___
management myopia
The first thing to consider when developing a strategy around a technological innovation is ___ potential
market
Large, diversified firms use ___ to regulate independent business units
market control
Midori is a manager of a business unit. She is responsible for and evaluated by profit and loss. Which strategy does her company use for achieving organizational control?
market control
When business units make their own decisions and have their own power, managers can use ___ to ensure that performance meets the corporation's goals
market controls
___ affect performance via economic forces and pricing mechanisms
market controls
Volume variances are typically the responsibility of ______________ managers.
marketing
Retail organizations in the US are one of the major employers of:
marketing graduates
How well a particular medium conveys information and promotes learning is called ____________
media richness
In communication, (men/women) are more likely to use I statements
men
When a firm is independently owned and takes title of the goods they handle, they are said to be _____ wholesalers
merchant
A supermarket is. store that sells
most food items alone with cleaning and paper products
The second-largest surface transportation mode is ________ _________.
motor vehicles
Which step in the change process begins with establishing a vision of where the company is heading?
moving
Mike repeatedly checks his email and sends several text messages during a presentation by the division manager. This is an example of?
multicommunicating
Anything that delays or obstructs any stage of the communication process is referred to, in general, as ___________
noise
Elena approached her coworker privately after a staff meeting in which he publicly criticized her and stated calmly that she was unhappy with the way he treated her and wanted to discuss it. This is an example of _____________ communication.
nondefensive
Eye contact, facial expressions, and body movements and gestures are forms of ___________ communication
nonverbal
Small businesses can use non store retailing methods such as the Internet to:
open new channels of distribution
Return on investment is defined as
operating income divided by operating assets
Decisions about technology must balance internal strengths and weakness with external ___ and ___
opportunities; threats
Using behavioral science throughout the system to improve an organization's effectiveness is known as
organization development
The area of logistics involved in managing the shipment of shoes to a retailer is ____________ logistics.
outbound
A retailer that sells goods directly from the manufacturer at a discount, although some goods may be flawed, is
outlet store
One of the dangers of using a rich medium for routine matters is information ________________, in which the receiver gets more information than necessary.
overloading
One nurse complains to another that a doctor is a legend in his own mind because he has an MD behind his name. Which personal barrier to effective communication is the nurse describing?
oversized egos
Which technologies have yet to prove their full value but could potentially offer significant competitive advantage
pacing
If a group is tight-knit and not particularly fond of management, ____ pressure may cause resistance to change
peer
The wall separating Henri from his manager made it hard to hear what his manager was saying. The wall is an example of a ____________ barrier.
physical
Three main types of barriers to communication are:
physical personal semantic
Which type of shipping combines railroads with trucks to move goods?
piggyback
If you were choosing a means of transportation for oil, the cheapest and most dependable would be by ____________.
pipelines
Stopping at 7 Eleven to buy milk and bread near your home is an example of ______________ utility.
place
What type of utility added by marketing intermediaries who get products to a location where people want them?
place
When a product is where consumers want it to be it is said to have __________ utility.
place
The utility that places the product where it is wanted is ____________ utility, whereas the utility that makes it possible to own it is ___________ utility
place and possession
The fourth P of marketing, which includes shipping, transportation, storage, logistics, and supply-chain management, is known as:
place or distribution
A supermarket that assembles a variety of goods in a location near your house is providing:
place utility
When planning how to either develop or exploit emerging technological innovations for the future, managers must consider all of the following except:
political affiliations of managers
Doing whatever is necessary to transfer ownership from one party to another is ____ utility
possession
Which form of utility is concerned with transferring ownership if a product or service from one party to another?
possession
Managers are usually held responsible for items over which they have ____________ rather than absolute control.
predominant
The key to protecting yourself against technological security threats is
prevention
The right of people not to reveal information about themselves is called
privacy
Creating the future, rather than simply responding to events as they occur, is dependent on ___ change
proactive
A ___ budget is typically stated in physical units
production
An itemized financial statement of income and expenses is a(n) ___
profit and loss statement
___ occurs when a disciplined employee fails to meet important standards and failure is dealt with in a step-by-step process
progressive discipline
A favorable material variance could mean
purchasing agents negotiated price concessions or discounts
An important function of the channel of distribution is to ensure that:
quantities and assortments are available where and when needed
An increasing important part of the supply-chain process that involves re-using products that are not completely used up is:
recycling
___ involves implementing control systems that support the change, applying correction action when necessary, and reinforcing behaviors and performance that support the new agenda
refreezing
No matter how it is measured, performance data must be ___ to be of value to the organization
reported promptly
An approach that measures management's ability to maximize earnings above some targeted level is ___________ income.
residual
An approach that measures managements ability to maximize earnings above some targeted level is
residual income (RI)
An organizational unit that controls identifiable revenue or expense items is a(n) _____________ center.
responsibility
An organizational unit that controls identifiable revenue or expense items is a(n)
responsibility center
The marketing intermediary who sells to ultimate consumers is a _____
retailer
___ occurs when control systems prompt employees to follow the rules to an extreme that stifles creativity
rigid bureaucratic control
A lean medium is more effective with ___________ situations
routine
The difference between sales on the static budget and sales on a flexible budget based on actual volume is a(n) _____________ volume variance.
sales
The sales price volume variance is defined as the difference between
sales on the static budget and sales on a flexible budget based on actual volume
The difference between actual sales and sales on a flexible budget based on actual volume is a
sales price variance
Which technique is used to gather information on external trends in pacing and emerging technologies?
scanning
Manufacturers of refrigerators and dishwashers are likely to use a ______ distribution strategy
selective
When a rack jobber retains title to the good until they are sold and shares profits with the retailer, the jobber is
selling on consignment
The study of the meaning of words is called
semantics
Which type of utility provides fast, friendly assistance during and after a sale, as well as offering training in product usage over time?
service
Companies that attempt to alter their industries, creating a future competitive environment of their own design, are known as ___
shapers
The least-expensive way to send goods overseas is by _______
ship
The least-expensive way to send goods overseas is by __________.
ship
Mobile and internet based technologies that are used to generate interactive dialog with members of a network are known as
social media
A retailer that sells a wide selection of goods in one category, such as jewelry, is a ______ store
specialty
Due to high costs, only a small proportion of shipping goes by air. However, its primary benefit is _____________.
speed
An example of a product that would require an exclusive distribution strategy is:
sport cars
The first step of the budgetary control process involves ___
starts with the broad plan for the company and estimate of sales, and ends with budget approval and publication
The master budget is frequently called a(n) ________ budget.
static
A ___ warehouse is used to hold products for a relatively long time
storage
Holding goods in a facility or facilities for later distribution is a logistics function known as ______
storage
Holding goods in a facility or facilities for later distribution is a logistics function known as ___________.
storage
Holding goods in a factory or facilities for later distribution is a logistics known as _____
storage
The two major forms of warehouse are ____________ warehouses used to keep goods for a longer time and ___________ warehouses where goods are gathered and reshipped more quickly.
storage and distribution
The four basic types of organization development interventions are techno-structural, human resource management, human process, and ____
strategic
The four basic types of organization development interventions are techno-structural, human resource management, human process, and ____________.
strategic
Decisions that are in the best interest of a division of the company, but not in the best interest of the company as a whole are called ______________.
suboptimization
The entire sequence of linked activities that must be performed by organizations to move goods from the sources of raw materials to the ultimate consumer is called a ______ ______
supply chain
A sudden or unexpected change can lead to resistance due to the change being a ___
surprise
___ is the systematic application of scientific knowledge to yield products, processes, or services
technology
Using video and audio links along with computers, wither with regular equipment or with telepresence technology, to enable people located at different locations to see, hear, and talk with one another is known as
teleconferencing aka videoconferencing
High definition video conferences that simulate face to face meeting between users through the use of multiple cameras and high-definition video screens is referred to as___________________
telepresence technology
Barb works for an accounting firm. She works out of her home and communicates with her boss via email and phone. Barb's job is an example of
teleworking
Which control system includes performance standards regarding finances, customers, business processes, and learning?
the balanced scorecard
The information that is shared in the communication process is called ___________
the message
When products are available when they are needed they are said to have _____ utility
time
Which form of utility is added by marketing intermediaries who make products available when they are needed?
time
Agents and brokers add value in a marketing transaction by bringing buyers and sellers ____ and by helping negotiate ___
together, exchanges
An example of accurate ___________ technology is provided by logistics specialists such as UPS or FedEx, as you can locate a shipment anywhere in the world.
tracking
Decentralization promotes
training lower-level managers for increased responsibility
True or false: the biggest problem most people have with public speaking is controlling their nerves
true
In the ___ stage of managing resistance, management realizes that it must break out of its present mold by doing things differently
unfreezing
the recognition of a performance gap is an important contributor to the ___ stage of managing resistance
unfreezing
The economic term for the want-satisfying ability, or value that organizations add to goods or services is _____
utility
The difference between the standard and the actual amount is called a(n)
variance
The difference between the standard and the actual amount is called a(n) ___________
variance
Anne submits her vacation request to her boss. Which type of formal communication is this?
vertical
Three types of formal communication
vertical horizontal external
The total sales variance includes both price variance and ____________ variances.
volume
Management by _____________________ helps to reduce the problems of distortion that inevitably occur with formal communication flowing up hierarchy.
wandering around
Return on investment is a measure of the amount of
wealth generated by operating assets
A firm whose main purpose is to sell to other businesses, manufacturers, and hospitals, who the resell the products or use them in product or service that is resold is called a:
wholesaler
When organizations use the six sigma process, they are striving for a ___ environment
zero-defect