Chapter Quiz Set (For Final)

When sales of cheese in the United States began to stagnate, the U.S. dairy industry looked for a quick and easy method to reach global markets. From your understanding of how companies participate in the global marketplace, you should know that the dairy industry selected: - Importing - Exporting - Franchising - Licensing - Contract Manufacturing

Exporting

A country that exports more goods than it imports is said to have a(n): - Favorable Balance of Payment - Negative Trade Deficit - Favorable Balance of Trade - Unfavorable Balance of Trade - Positive Trade Deficit

Favorable Balance of Trade

Intranets are essentially mini-Internets that operate behind a(n) _____ that prevents unauthorized access. - Communications Buffer - Network Barrier - Firewall - Insulated Connector - Modem Synthesizer

Firewall

In a large organization, which type of manager supervises day-to-day operations? - Top Manager - Middle Manager - Chief Operating Officer - First-Line Manager

First-Line Manager

A(n) _____ is an organization's management support system that combines many databases to improve management decision making. - Data Warehouse - Information Network - Data Mine - Data Station - Information Center

Data Warehouse

_____ financing is a form of business financing consisting of borrowed funds that must be repaid with interest over a stated time period. - Debt - Venture - Equity - Monetary - Credit

Debt

_____ is the process of grouping jobs together so that similar or associated tasks and activities can be coordinated. - Specialization - Standardization - Functionalism - Centralization - Deparmentalization

Departmentalization

When it distributes a portion of its income to shareholders in the form of cash payments, a corporation pays out _____. - Dividends - Capital Surpluses - Allotments - Shares

Dividends

Coca-Cola Enterprises (CCE) is the largest bottler and distributor of Coke products in the world. It is organized around its North America division and its European division. This departmentalization by _____ allows CCE to respond to the demands of different markets. - Product - Process - Function - Geography - Customer

Geography

One of the advantages of a wide span of control is: - Greater organizational flexibility - Close supervision of employees - A lack of synchronization - Absence of managerial support - High degree of control

Greater organizational flexibility

In deciding on a legal form of organization, you should ask yourself all of the following questions except______________ - How many employees will you hire - Do you want to share profits w/ others - What are your financing needs - Do you have all the skills needed to run the businesses

How many employees will you hire

_____ are entrepreneurs who start a series of companies. - Growth capitalists - Multi-venturists - Intrapreneurs - Multi-faceted venturists - Multipreneurs

Multipreneurs

_____ is the sense of national consciousness that boosts the culture and interests of one country over those of all other countries. - Nationalism - Domestic Loyalty - Multinationalism - Unionism - Federalism

Nationalism

A(n) _____ is an information system that uses information technology tools to improve communications throughout an organization. - Transaction Processing System - Office Automation System - Expert System - Data Channel

Office Automation System

A(n) ________ chart is a diagram or visual representation delineating the interrelationships of positions within an organization. - Division - Organization - Restructuring - Process

Organization

Jenny runs a hotel. She is determining how many employees should work next week with what supply needed. She is performing which management function? - Organizing - Controlling - Directing - Planning

Organizing

_____ involves coordinating and allocating a firm's resources so that the firm can carry out its plans and achieve its goals. - Controlling - Organizing - Operational Planning - Resource Planning - Implementing

Organizing

Business Information include: (select all that are true): - Customer address and email - Employee Payroll - Production Schedules - Customer Past Purchase

All of the Above

Which of the following is a trend that is changing the face of entrepreneurship and small business ownership? - Decreased use of overseas bundling - Stagnant demographics - An increase in the number of corporate mergers and acquisitions - Entrepreneurial diversity

Entrepreneurial diversity

The first step in controlling is to: - Establish performance standards - Take corrective action - Explain the meaning of goals - Measure performance against standards - Monitor Goals

Establish performance standards

A(n) _____ is a management support system that is customized for an individual executive. It provides specific information for strategic decision making. - Information Automated System - Management Database System - Decision Support System - Expert System - Executive Information System

Executive Information System

The principle that a reward will motivate only if it's valued by the employee is key to the _____ theory of motivation. - Expectancy - Equity - Goal Setting - Enrichment

Expectancy

More involved in day-to-day operations than in planning, ________ supervise employees and coordinate their activities to ensure consistent companywide work. - Middle Managers - Quality Circle Captains - First-Line Managers - Team Leaders

First-Line Managers

A company with a wide span of control and short chain of command is a _____ organization. A company with a narrow span of control and long chain of command is a _____ organization. - Networked; Tall - Flat; Tall - Matrix; Narrow - Matrix; Tall - Networked; Flat

Flat; Tall

The first step to incorporating a company is to: - Select Co. Name - Create Board of Directors - Buy Necessary Licenses & Pay Required Taxes - Write Articles of Incorporation - Hold Organization Meeting

Select Co. Name

In decision making, what is not a step in the process? - Gather Relevant Data - Generate Possible Solutions - Monitor Outcome - Select Target Customer Segments

Select Target Customer Segments

According to the Hawthorne effect: - Workers dislike negative reinforcement - Workers respond to money responsibility motivates - Good leadership is the key to motivation - Workers respond to being paid attention to

Workers respond to being paid attention to

_____ is the process of ensuring that the organization's objectives are being met and of correcting deviations from the plan. - Planning - Leadership - Communicating - Staffing - Controlling

Controlling

A office supplies company is organized to serve three distinct groups of customers (college students, business offices, and home offices) is organized by: - Production - Functions - Products - Customers

Customers

The first type of training and development a new employee will be exposed to is: - Evaluation - Employee Orientation - Role Playing - E-Training - Mediation

Employee Orientation

Partnership agreements generally specify all of following EXCEPT: - Provisions for senior partnership interests - Methods of taxation of each partner - Management responsibilities - Steps in dissolving the entity - Contributions of each partner

Methods of taxation of each partner

The Ford Motor Company has investing $6 billion to build a "world car," the midsize Mondeo. The car was designed in the U.S., Germany, and the United Kingdom to be adaptable to any market in the world. Ford is a(n) _____ company. - Interpartnership - Intercultural - Nationalistic - Multinational - Conglomerate

Multinational

What is not true of Board of Directors? - Must also be shareholders - Hires and direct CEO - Approve company strategy - Elected by shareholders

Must be shareholders

According to the Torts video, torts is (click all that are true): - Tried as a criminal case - Pain and suffering not covered in a contract - Suit brought against defendants by the prosecutors - Judgements based primarily on common law

Pain and suffering not covered in the contract

Once small businesses hire employees, they can _____ to increase job satisfaction and retain their employees. (choose all that are true) - Share profits with employees - Continuously recruiting and interviewing potential workers in case someone quits - Offer flexible working hours - Provide comfortable working conditions - Provide employee benefit programs

- Share profits with employees - Offer flexible working hours - Provide comfortable working conditions - Provide employee benefit programs

A good technology plan provides employees with the tools they need to perform their jobs at the highest levels of efficiency. The first step in developing a good technology plan is: - A Needs Assessment - Budgeting - Brainstorming - The Establishment of Rules & Regulations - A Situational Analysis

A needs assessment

Which industry has the highest percentage of cooperatives? - Retail - Insurance - Outdoor Gear - Agriculture - Housing

Agriculture

One of the important decisions managers have to make is whether to buy and commit to upgrading its computer equipment every couple of years. One way of avoiding having to buy costly upgrades, which can quickly become obsolete, is to use: - Application Service Providers - An Internet Warehouse - Software Piracy - A Software Infrastructure - Web Sharing

Application Service Providers

Enterprise portals can take one of three forms. They are: - C2C, B2B, C2B - Intranet, Extranet, WAN - B2B, B2E, B2C - B2B, C2C, C2B - Virtual, Wired, and wireless

B2B, B2E, B2C

The _____ is the total amount of money that flows in and out of a country. - Federal Deficit - Balance of Exchange - Balance of Trade - Balance of Payments - International Exchange

Balance of Payments

All of the following are examples of disadvantages associated with the ownership of a small business EXCEPT: - Limited management skill - Being your own boss - Fund-raising difficulty - Extreme personal commitment - Burdensome government regulations

Being your own boss

Which of the following statements about unions contract negotiation is false? - Boycotting is a management tactic available when negotiations break down - If negotiations between the union and management stall, the two sides can agree to mediation or arbitration - Unionized workers who believe they have been treated unfairly can file a grievance with the union - Collective bargaining is a process of settling differences and establishing mutually agreeable conditions between labor and management

Boycotting is a management tactic available when negotiations break down

A _____ is a formal document that describes in detail the goal, the idea for a new business, and how it will be carried out. - Mission statement - Venture plan - Business plan - Vision - Statement of purpose

Business Plan

A _____ regulation in the United States bans the use of foreign steel in constructing U.S. highways. - Buy-National Regulation - Domestic-Content Law - Domestic-Only Law - Controlled Purchase Policy - Restrictive Purchase Regulation

Buy-National Regulation

The three types of participative leaders are: - Consensual leaders, and autocratic leaders and participative leaders - Empathetic leaders, empowering leaders and laissez-faire leaders - Semi-autocratic leaders, autocratic leaders, and empowering leaders - Consensual leaders, democratic leaders, and consultative leaders - Empowering leaders, global leaders, and consultative leaders

Consensual leaders, democratic leaders, and consultative leaders

In performing what function, managers measure the results of operations and compare them with the results laid out in original goals? - Planning - Directing - Organizing - Controlling

Controlling

What is true about a sales contract? - A person has 3 days to return a new car after purchase for a full refund in California - A sales contract is binding once it is presented to the customers - If a customer turns down the offer, the contract is not valid even if the customer changes his or her mind later and wants to sign the contract unless the seller agrees to re-present the offer - The Federal Trade Commission permits cancellation of sales contracts for all sales as long as within 3 days of signing the contracts

If a customer turns down the offer, the contract is not valid even if the customer changes his or her mind later and wants to sign the contract unless the seller agrees to re-present the offer

The Blue Bird Bus manufacturing company in Georgia sells buses to the South African government. To South Africa, these buses are an example of: - Imports - Countertrades - Intangibles - Exports - Tariffs

Imports

The manager of a chain of dry cleaning stores gathers the competitions' advertisements for analysis and review. She needs these data to help the chain devise its own advertising strategy. The manager is acting in the _____ role. - Functional - Organizational - Informational - Coordinational - Interpersonal

Informational

Under a(n) _____, a foreign company pays a royalty fee to manufacture or sell your U.S. company's products, using your name and processes and perhaps your intellectual property. - International Licensing Agreement - International Franchising Agreement - Strategic Alliance - Outsourcing Contract

International Licensing Agreement

The skills, knowledge, and abilities a person must have to fill a job are spelled out in a(n): - Skills requirement checklist - Task inventory - Job description - Resume - Job Specification

Job Specification

A _____ union is a branch union that represents a specified area or even a specific plant. - Task-Oriented - Controlled - Local - Restricted - Subsidary

Local

Jason is the proud owner and operator of Slithering Snakes where he entertains kids at birthday parties by educating them on reptiles. The California-based business, which he started with no financial help from anyone, minimal paperwork, and enjoys working when he wants to. His business is a... - General Proprietorship - Limited Partnership - Sole Proprietorship - S Corporation - Sole Partnership

Sole Proprietorship

Which type of business organization experiences the least governmental regulation? - Joint Venture - Public Corp. - Private Corp. - Sole Proprietorship - Limited Partnership

Sole Proprietorship

A(n) _____ is a tax levied by a nation on imported goods. - Embargo - Subsidy - Boycott - Tariff - Premium

Tariff

The specialized knowledge and ability that a person brings to a job, such as computer programming, is called a(n) ______ skill. - Hierarchical - Technical - Functional - Subordinate - Tactical

Technical

_____ means that a portion of an employee's pay is directly linked to an individual or organizational performance measure. - A fee-for-work - Salary-plus income - Pay-on-commission - Performance-based pay - Variable pay

Variable Pay

_____ is responsible for identifying the Theory Z style of management. - Douglas McGregor - Frederick Herzberg - Frederick Taylor - Elton Mayo - William Ouchi

William Ouchi

A ______ is a formal complaint, by an employee or by the union that management has violated some part of the contract. - Contract Complaint - Formal Mediation - Union Arbitration - Grievance - Official Protest

Grievance

When union members carry signs and march near the entrance of their employer to publicize their view of the dispute and discourage customers, they are engaging in: - Lockout - Picketing - Boycotting - Strike Advertising - Secondary Boycott

Picketing

Under the Small Business Administration's _____ program, a businessperson needing advice is matched with a team of retired executives who work on a volunteer basis. - SCORE - SMART - SPCA - SWOT

SCORE

An expert system: (select all that are true) - Is a type of management support system - Uses AI - Provides managers w/ advice similar to what they could get from a human consultant - Is cheap and easy to create

- Is a type of management support system - Uses AI - Provides managers w/ advice similar to what they could get from a human consultant

Which of the following is a key attribute of the virtual corporation? Select all that are true. - They should be permanent to attract members - The structure expands the traditional boundaries of an organization - With info technology, geographically dispersed Co. can easily work together - They are less permanent, less formal, and more opportunistic than traditional partnerships - Each partner brings its core competency to the alliance

- The structure expands the traditional boundaries of an organization - With info technology, geographically dispersed Co. can easily work together - They are less permanent, less formal, and more opportunistic than traditional partnerships - Each partner brings its core competency to the alliance

Which of the following statements about unemployment compensation is true? (select all that are true) - If an employee quit their job, they are qualified for benefits - Unemployment compensation provides former employees with money for a certain period while they are unemployed. - Unemployment compensation pays employees for lost work time caused by work-related injuries. - The federal government pays unemployment compensation.

- Unemployment compensation provides former employees with money for a certain period while they are unemployed. - Unemployment compensation pays employees for lost work time caused by work-related injuries. - The federal government pays unemployment compensation.

_____ is the gap between what is and what is desired, and _____ is the gap between what is and what is required. - Motivation; Experience - A need; a want - A want; a need - A perquisite; a goal - Experience; Motivation

A want; a need

Decentralization is usually desirable in a company when: (select those that are true) - The firm is geographically dispersed - The firm is very large - Employees are willing to take responsibility - The Firm is operating in a dynamic environment - All of the Above

All of the Above

An example of a provider of exceptional customer service is L.L. Bean, Inc. One of its employees actually drove 500 miles from Maine to New York to deliver a canoe to a customer who was leaving on a trip. The employee was able to perform this task with the support of L.L. Bean because the catalog retailer believes strongly in: - Telecommuting - Task Expansion - Job Rotation - Empowerment - Flextime

Empowerment

A(n) _____ is someone who identifies a business opportunity and assumes the risk of creating and running a business to take advantage of it. - Entrepreneur - Marketer - Small Business Owner - Executive

Entrepreneur

An advertising agency that has separate departments for artwork, creative design, print advertising, radio advertising, television advertising, and specialty advertising is using _____ departmentalization. - Customer - Geographic - Hierarchical - Functional - Size

Functional

A _____ is legal only when unionized workers pose a credible threat to an employer's financial viability. - Boycott - Picket Line - Bargaining Zone - Lockout

Lockout

The difference between small business owners and entrepreneurs is that small business owners: - Are risk takers - Accept the status quo and take a short-term view of the future - Started the business to pursue their idea for a new product or service - Are innovators

Accept the status quo and take a short-term view of the future

According to the goal-setting theory,: - More difficult goals lead to better performance than do easy goals - Feedback on progress toward goal enhances performance - Specific goals lead to higher levels of performance than do more generalized goals - All of the above are true - An individual's intention to work toward a goal is a primary source of motivation

All of the above are true

To prepare job descriptions and job specifications, HR managers rely on information collected for the job _____. - Comparison - Analysis - Evaluation - Briefing

Analysis

If you were a U. S. farmer receiving a subsidy, you are _____. - Guaranteed Payment from Foreign Govt. - Receiving No-Interest Loan - Guarantee of Certain Price Even if Market Price is Much Lower - Eligible for Welfare

Guarantee of Certain Price Even if Market Price is Much Lower

_____ helps employees at Rocky Mountain Surgical Associates PC, Denver, reduce the stress and disruption that employee vacation schedules and new worker training can cause in a small practice. Most of the nine staff members at the three-physician surgical group are trained to handle three job functions. According to the office manager, "The billing clerk can be the receptionist if necessary; so can the surgical scheduler or the medical assistant, which helps keep operations running smoothly when someone is out, or the practice has to train someone new." - Job Enrichment - Job Rotation - Task Enlargement - Task Generalization - Job Integration

Job Rotation

_____ offer companies a more cost-effective way to link computers than linking terminals to a mainframe computer. - Linking Networks - Virtual Private Networks - Intranets - Local Area Networks - Extranets

Local Area Networks

Herzberg's found that the factor that ranked highest as a motivator was: - The friendliness of supervisors - Recognition and a sense of achievement - The presence of clear and consistent company rules and policies - A compensation system that included bonuses and regular pay raises

Recognition and a sense of achievement

An employee who was more worried about having a safe work environment and a financially sound pension plan than anything else would be most concerned with which of the needs in Maslow's hierarchy of needs? - Esteem Needs - Safety Needs - Physiological Needs - Self-Actualization Needs - Social Needs

Safety Needs

Which of the following is the most common but riskiest option in becoming a small business owner? - Buying an existing business - Obtaining a franchise - Starting from scratch - Marketing an unknown product

Starting from scratch

The tool most widely used in making hiring decisions is the: - Selection Interview - Resume - Intelligence Test - Personality Test - Background & Reference Check

Selection Interview