MIE 201 Test 3 (8,9,11,13&14) Questions

At all levels of education, what percentage of salary is a woman paid compared to a man? A. 75 to 80 percent B. 20 to 25 percent C. 5 to 7 percent D. 5 percent E. 22 to 30 percent

A. 75 to 80 percent

Which of the following is the main objective of engaging in inventory control? A. balancing supply and storage costs B. providing a channel for customer communication C. providing a channel for brand communication D. obtaining feedback from the customers E. storing less finished products and more raw materials

A. balancing supply and storage costs

Supply chain management refers to the business procedures, policies and computer systems that ___________. A. convert supply chain into a cohesive system B. create a procurement process independent of the supply chain C. separate supply chain from other business functions D. separate supply chain from the value chain of an organization E. help an organization communicate with competing firms

A. convert supply chain into a cohesive system

Which of the following considers resource planning and management throughout the entire organization? A. enterprise resource planning (ERP) B. procurement C. managerial requirements planning (MRP) D. inventory control E. manufacturing resource planning (MRPII)

A. enterprise resource planning (ERP)

Which is TRUE about the Landrum-Griffin Act? A. it combats financial fraud within unions B. it establishes the right of employees to form, join, and assist unions and the right to strike C. it requires employers to fund programs that provide income for qualified unemployed persons D. it requires employers to let employees or their beneficiaries buy continued health insurance coverage after employment ends E. it governs the establishment and operation of private pension programs

A. it combats financial fraud within unions

Which one of the following examples of utility forms is NOT correct? A. lens crafters has captured a big chunk of the market for eyeglasses by providing fast, on-location service; is an example of place utility B. services such as Apple iTunes create both time and place utility C. cross-training D. when supermarkets provide fresh, ready-to-eat dishes as an alternative to food ingredients, they are creating utility E. overnight couriers such as FedEx and UPS create team utility

A. lens crafters has captured a big chunk of the market for eyeglasses by providing fast, on-location service; is an example of place utility

Which of the following requires the customer and provider to be at the same place at the same time? A. location constraints B. perishability C. customer involvement D. scalability E. perceptions of quality

A. location constraints

A ___________ structure is also called a virtual organization. A. network B. line C. functional D. matrix E. divisional

A. network

What are informal standards of conduct that members share and use to guide behavior called? A. norms B. cohesiveness C. proactive attention D. conflict E. morale

A. norms

___________ refers to contracting out certain business functions or operations to other companies. A. outsourcing B. rescaling C. customization D. scaling E. external valuation

A. outsourcing

Which delivery challenge is identified by an item needing to be consumed the same time it is produced? A. perishability B. scalability C. location constraints D. perception of quality E. quality of experience

A. perishability

All of the following statements related to productivity are accurate EXCEPT which one? A. productivity is equal to the value of the outputs multiplied by the value of the inputs B. companies that can produce similar goods or services with fewer resources have a distinct advantage over their competitors C. productivity is one of the most vital responsibilities in operations management D. high productivity in the fullest sense also requires low waste E. productivity is the efficiency with which an organization can convert inputs to outputs

A. productivity is equal to the value of the outputs multiplied by the value of the inputs

____________ is a euphemism used to suggest that an organization is making changes in the workforce to match its business needs more precisely. A. rightsizing B. work sharing C. restructuring D. nearshoring E. repositionsing

A. rightsizing

The following is any attribute that increases the value that customers place on the product? A. utility B. form utility C. time utility D. possession utility E. place utility

A. utility

____________ include all the elements and processes from transforming raw materials to making the final products available to the ultimate customer. A. value chains B. product chains C. supply chains D. supply webs E. customer chains

A. value chains

Which of the following is a payment based on a level of sales within a given time frame? A. gain sharing B. commissions C. bonuses D. pay for performance E. profit sharing

B. commissions

All of the following are examples of alternative work arrangements EXCEPT which one? A. telecommunicating B. contingent employees C. mass career customization programs D. flextime E. job sharing

B. contingent employees

A company-sponsored plan that includes pre-specified amounts of pay to employees upon retirement is called what? A. pension plan B. defined-benefit plan C. defined-contribution plan D. employee stock ownership plan E. 401 (k) plan

B. defined-benefit plan

Which of the following is an advantage of working in teams? A. structural disruption B. diversity of views C. excessive workloads D. diminished individual motivation E. group think

B. diversity of views

Which of the following is TRUE regarding divisional departmentalization? A. it refers to grouping employees according to their skills B. it can increase costs through duplication C. it reduces the autonomy of business units D. it makes the organization more rigid, and incapable of reacting quickly to change E. it results in the creation of the virtual organization

B. it can increase costs through duplication

Which of the following are policies that force people to quit working as soon as they turn a certain age? A. termination for cause B. mandatory retirement C. worker buyout D. early retirement E. employment at will

B. mandatory retirement

A ________ structure is an organization design in which employees from functional departments form teams to combine their specialized skills. A. divisional B. matrix C. horizontal D. functional E. network

B. matrix

According to Bruce Tuckman's model, in the _________ stage, conflicts are resolved, and team harmony develops. A. forming B. norming C. adjourning D. storming E. performing

B. norming

Groupthink occurs when__________. A. employees rely too heavily, or "anchor", on one trait or piece of information when making decisions about team members B. peer pressures cause individual team members to withhold contrary or unpopular opinions C. a team places too much importance on one aspect of an event, which causes errors in accurately predicting the utility if a future outcome D. employees judge a decision by its eventual outcome, rather than on the quality of the decision at the time it was made E. managers favor employees who don't compete with their own particular strengths

B. peer pressures cause individual team members to withhold contrary or unpopular decisions

Which of the following estimates future demand for a company's product? A. capacity planning B. production forecast C. gantt chart D. capacity E. critical path

B. production forecast

Group members who focus on helping the team reach its goals take on which type of role? A. nonparticipator B. task specialist C. socioemotional D. communities of practice leader E. team leader

B. task specialist

Based on at-will employment, which of the following would be an acceptable action on the part of the employer? A. terminating for testifying against the employer B. terminating for cause C. terminating for whistle-blowing D. discrimination in firing E. terminating for filing a workers compensation claim

B. terminating for cause

Which of the following might NOT result in team conflict? A. assignment of responsibilities B. the belief that the other party can be trusted C. communication skills D. scarce or declining resources E. values and attitudes

B. the belief that the other party can be trusted

The multidimensional network of suppliers and outsourcing partners are known as what? A. near-shoring B. value webs C. reshoring D. supply chain E. value chains

B. value webs

From the perspective of workers, which of the following is a potential benefit for an unstructured organization? A. Increased sense of working together for a larger, shared purpose B. Increased loyalty toward employers C. Increased freedom and flexibility D. Availability of full-time trainers to guide, support, and teach new skills E. Increased job security

C. Increased freedom and flexibility

Which of the following enables employees to become partial owners of a company? A. a self-insurance plan B. a sliding-scale plan C. an employee stock-ownership plan D. a wellness plan E. a cafeteria plan

C. an employee stock-employee stock-ownership plan

Which of the following is the main objective of engaging in inventory control? A. providing a channel for brand communication B. obtaining feedback from the customers C. balancing supply and storage costs D. storing less finished products and more raw materials E. providing a channel for customer communication

C. balancing supply and storage costs

___________ refers to the creation of a unique good or service for each customer. A. mass production B. mass customization C. customized production D. batch production E. standard production

C. customized production

Which of the following is a characteristic of effective teams? A. decision making is done by the team leader B. conflict is managed by focusing on the people, not the issues C. disagreements are discussed openly and calmly D. groupthink is encouraged among team members E. decision making done through quick votes

C. disagreements are discussed openly and calmly

Which of the following established self-contained sub-organizations encompasses all major functional resources needed to achieve its goals? A. functional structure B. vertical structure C. divisional structure D. network structure E. matrix structure

C. divisional structure

Which of the following addresses the differences between what women and men earn? A. workforce analytics B. diversity C. gender pay gap D. the glass ceiling E. sexual harassment

C. gender pay gap

Which of the following identifies the type of personnel a job requires, including skills, education, and personal attributes? A. job description B. workforce analytics C. job specification D. job analysis E. work-life balance

C. job specification

Which of the following ties pay to knowledge and abilities rather than to a job? A. commissions B. profit sharing C. knowledge-based pay D. bonuses E. pay for performance

C. knowledge-based pay

What is referred to when a small correction in one system could make the entire company perform better? A. peak performance B. near-shoring C. leverage point D. value webs E. value chain

C. leverage point

Customers and providers need to be in the same place at the same time is a challenge of service delivery due to ___________ of services. A. perceptions of quality B. customer involvement in quality C. location constraints D. perishability E. scalability

C. location constraints

Which of the following is a disadvantage in an unstructured organization? A. performance-based evaluation B. higher fixed costs C. loss of meaning and connection D. decreased agility E. less access to talent

C. loss of meaning and connection

Evaluating both online and offline marketing activities to improve decision making in marketing efforts is called what? A. stealth marketing B. permission-based marketing C. marketing analytics D. market intelligence E. market research

C. marketing analytics

When a firm moves a significant function that was previously done in house to an outside vendor, what is this called? A. near-shoring B. value webs C. outsourcing D. reshoring E. offshoring

C. outsourcing

Which of the following is used to objectively evaluate employees according to a predetermined set of criteria? A. 360-degree review B. electronic performance monitoring C. performance appraisals D. computer activity monitoring E. skills inventories

C. performance appraisals

What is it called when a trade of values occurs? A. exchange process B. marketing C. transaction D. bartering E. trade

C. transaction

Principles that are helpful in considering business from systems perspective include all of the following EXCEPT which one? A. understand how individual systems really work and how they interact B. help everyone see the big picture C. understand the problems by focusing on measurable things D. understand how feedback works in the system E. understand the potential effect of solutions before you implement them

C. understand problems by focusing on measurable things

Which of the following offers better insights into consumer behavior by incorporating a broader view of the way people really make decisions? A. buyer's remorse B. the network effect C. organizational market D. behavioral economics E. cognitive dissonance

D. behavioral economics

Grouping people within an organization according to function, division, matrix, or network is called _________. A. span of control B. line-and-staff organization C. decentralization D. departmentalization E. centralization

D. departmentalization

The market intermediaries are a network of the ___________ element of the marketing mix. A. price B. promotion C. product D. distribution E. service

D. distribution

Which type of team is also referred to as a command team? A. cross-functional team B. self-managed team C. problem-solving team D. functional team E. virtual team

D. functional team

Which of the following is NOT an advantage of a functional structure? A. grouping employees by specialization encourages development of in-depth skills B. grouping employees by specialization allows for efficient use of resources C. centralized decision making enables unified direction by top management D. grouping employees by divisions that are self contained allows for quicker reaction E. centralized operations enhance communication and coordination

D. grouping employees by divisions that are self contained allows for quicker reaction

Which of the following chain-of-command systems was developed to address the need to combine specialization with management control? A. formal organization B. agile organization C. informal organization D.line-and-staff organization E. line organization

D. line-and-staff organization

Options for pursuing new marketing opportunities include all of the following EXCEPT which one? A. product development B. diversification C. market penetration D. market share E. market development

D. market share

In an unstructured organization, how are workers evaluated? A. flexibility B. education C. previous clients D. measurable performance E. relationship with leadership

D. measurable performance

Which of the following is a holistic system of integrated policies and practices designed to ensure that every product meets preset quality standards? A. ISO 9000 B. kaizen C. continuous improvement D. quality assurance E. quality control

D. quality assurance

Which of the following is a key difference between quality control and quality assurance? A. quality control is continuous, whereas quality assurance is intermittent B. quality control is typically preferred by organizations that focus on quality C. high level managers perform quality control whereas middle managers perform quality assurance D. quality assurance is more proactive than quality control E. quality assurance is a subset of quality control process

D. quality assurance is more proactive than quality control

Before you decide to purchase a new laptop, you ask some friends and coworkers which model they have purchased and how pleased they are with its performance. This influence factor is known as __________. A. situational factors B. self-image C. culture D. reference group E. socioeconomic level

D. reference groups

Which of the following uses user-generated content to allow customers to communicate with companies and each other? A. stealth marketing B. market intelligence C. market analytics D. social commerce E. customer relationship management

D. social commerce

Which of the following allows employees to purchase a set number of shares of stock at a specific price? A. vesting B. grants C. employee stock ownership plans (ESOP) D. stock option E exercise price

D. stock option

Getting the right materials at the right place at the right time is the core focus of what? A. procurement B. manufacturing resource planning (MRPII) C. inventory control D. supply chain management E. lead time

D. supply chain management

Which of the following is an advantage of working in a team? A. business teams encourage group think B. teams lower the diversity of views C. influential teams can compete with the formal chain of command D. teams improve flexibility and responsiveness E. business teams can lead to more time being spent on decisions than necessary

D. teams improve flexibility and responsiveness

Understanding how one system affects another system is a function of which principle? A. use mistakes as opportunities to learn and improve B. understand problems before you try to fix them C. help everyone see the big picture D. understand how individual systems really work and how they interact E. don't just move problems around - solve them

D. understand how individual systems really work and how they interact

Instead of the linear value chain, some business now think in terms of ___________ multidimensional networks of suppliers and outsourcing partners. A. near-shoring B. offshoring C. outsourcing D. value-webs E. reshoring

D. value webs

MNB Manufacturers, a home appliances manufacturing firm, creates a team comprised of employees from research and development, finance, marketing and sales, and product assurance departments. The face-to face team is closely scrutinized. This specialized, permanent team is responsible for generating innovative business expansion plans. It is most likely to be which of the following teams? A. Self-Managed Team B. Virtual Team C. Task Force D. Command Team E. Cross-functional Team

E. Cross-Functional Team

Which of the following is a major difference between line view and circular view? A. a circular view shows multiple activities, unlike a line view B. multiple activities are considered in a series view, unlike a circular view C. multiple activities are considered in a circular view, unlike a serial view D. a line view has multiple activities, unlike a circular view E. a circular view includes feedback, unlike a line view

E. a circular view includes feedback, unlike line view

Wants differ from needs in that wants ________________. A. are the focus of the marketing efforts B. create demand for products C. are independent of a person's experiences D. are independent of culture E. are more specific

E. are more specific

___________ is the collection of long-term strategic decisions that establish the overall level of resources needed to meet customer demand. A. just-in-time B. inventory control C. production and operations management D. lean-systems E. capacity planning

E. capacity planning

Which of the following statements is TRUE about administering employee compensation? A. labor-management relations act sets specific guidelines that employers must follow when administering salaries and wages B. cash payment based on an employee's unit of output is called salary C. fixed cash compensation for work, independent of the number of hours worked, is termed as wages D. compensation comprises of direct payments such as wages or salary, and excludes indirect payments through employee benefits E. compensation is dictated by prevailing conditions in the job market and the value each employee brings to the organization

E. compensation is dictated by prevailing conditions in the job market and the value each employee brings to the organization

Which of the following are activities in which a company excels, giving it a competitive advantage? A. work specialization B. decentralization C. span of management D. centralization E. core competencies

E. core competencies

Which of the following organizational patterns stimulates responsiveness? A. work specialization B. line and staff organization C. span of management D. centralization E. decentralization

E. decentralization

The supply of employees needed to maintain existing operations and staff new opportunities focuses on which of the following? A. replacement charts B. contingent employees C. turnover rate D. succession planning E. employee retention

E. employee retention

Which type of team is organized along the vertical structure of the organization? A. cross-funtional B. problem-solving C. virtual D. task force E. functional

E. functional

Through the process of __________, employers try to identify the nature and demands of each position within a firm as well as the optimal employee profile to fill each position. A. job specification B. workforce analytics C. job description D. succession planning E. job analysis

E. job analysis

From the perspective of the company, which of the following is a potential drawback of using an unstructured organization? A. reduced agility B. higher fixed costs C. less flexible capacity management D. increased loyalty in employees E. lack of built-in accountability

E. lack of built-in accountability

Which of the following can make virtual communication especially challenging? A. blogs and wikis B. geographically dispersed members C. diverse viewpoints D. shared online work spaces E. lack of nonverbal cues

E. lack of nonverbal cues

Many companies now rely on a computer-based statistical approach called _________ to align the skillsets of employees with the needs of the business. A. productions and operations management B. simulated human capital C. just-in-time recruitment D. workforce scalability E. predictive workforce analytics

E. predictive workforce analytics

_____________ are estimates of future demand for a company's products. A. operation plans B. PERT reports C. resource plans D. critical paths E. production forecasts

E. production forecasts

Which of the following helps managers identify optimal sequencing of activities, and best use of resources in complex projects? A. gantt charts B. critical path C. capacity planning D. master production schedule E. program evaluation and review technique (PERT)

E. program evaluation and review technique (PERT)

Which of the following is the traditional act of measuring quality against established standards after production? A. statistical process control B. quality assurance C. continuous improvement D. ISO 9000 E. quality control

E. quality control

The employment life cycle starts with _________. A. rightsizing B. orientation C. outplacement D. at-will employment E. recruiting

E. recruiting

During a performance appraisal, most jobs are evaluated in several areas including all of the following EXCEPT which one? A. interaction with customers B. interaction with colleagues C. contribution to the company's overall success D. specific task to the position E. salary

E. salary

A(n) ____________ identifies both the current skill levels of the company's workforce as well as those the company needs in order to succeed/ A. replacement chart B. employee turnover analysis C. EPM D. 360-degree review E. skills inventory

E. skills inventory

A team that may become permanent in order to deal with regularly recurring tasks is called a task force. (T/F)

False

According to a recent survey of the companies that make up the S&P 500 stock market index, CEOs are paid roughly 20 times more than average workers are paid. (T/F)

False

Aspirational reference groups are those to which consumers actually belong, such as families, networks of friends, clubs and work groups. (T/F)

False

Job description refers to a statement describing the kind of person who would be best for a given job. (T/F)

False

Outsourcing and offshoring are synonymous terms. (T/F)

False

Salary is paid by the unit of time or by the unit of output. (T/F)

False

The diagram that shows how employees and tasks are grouped is called organizational structure. (T/F)

False

The period of time that elapses between placing an order and actual receipt is the product's lag time. (T/F)

False

Wage employees are exempt from the Fair Labor Standards Act. (T/F)

False

The term outplacement services refers to external professionals who help an organization in terminating employees. (T/F)

False. Helps employees after they have been terminated

A central element in the marketing concept is involving the customer as a partner in a mutually beneficial relationship rather than treating the customer as a passive recipient of products and promotional messages. (T/F)

True

A centralized organization concentrates decision-making authority at the upper levels of the organization. (T/F)

True

A self-managed team requires little supervision, controls the pace of its work and determines work assignments. (T/F)

True

Customer lifetime value refers to the total potential revenue from each customer over a certain time span minus the cost of attracting and keeping that customer. (T/F)

True

In batch-of-one production, the producer creates a unique good or service for each customer. (T/F)

True

Services that must be consumed at the same time they are produced are known as perishable services. (T/F)

True

Strategic marketing planning refers to the process of examining an organization's current marketing situation, assessing opportunities and setting objectives, and then developing a marketing strategy to reach those objectives. (T/F)

True

The stage of team development in which the team stabilizes and team members recognize and accept their roles and duties is called performing. (T/F)

True