POM Study Final
Which of the following is a true statement about the role of ethics and business risk
Businesses that provide ethics-training programs can reduce the business's level of risk
Which of the following is a benefit of project planning:
Coordinating all of the parts of the project
ABC Builders are two months behind schedule on the mall they are building. Management has decided to "crash" the project. Which of the following is an example of "crashing" a project:
Hire ten additional construction workers
Tom gave each of his team members a form that asked questions about the team's achievement of goals, processes, and other team members' roles and work habits. What team-assessment tool is Tom using?
Survey
Balancing the business's objective to make a profit with the interests of all the business's stakeholders is a primary consideration related to the business's
financial ethics.
Customer relationship management can help a business to identify its
most valuable customers.
Kevin is planning to paint a house. He draws a simple graph that shows the sequence of tasks that will be done from beginning to end of the project. For example: 1) Buy supplies, 2) Prepare house for painting, 3) Paint house, and so on. This is an example of a
network diagram.
The primary purpose of developing a work breakdown structure (WBS) for complex projects is to
organize the work in a logical sequence.
Determine the mean for the third quarter's sales using the following data: July sales = $895,278; August sales = $875,439; and September sales = $854,262.
. $874,993
Which of the following is an example of a primary need:
Food
Which of the following is a true statement about a project charter:
It serves as authorization to start the project.
What can businesses do to reduce risks associated with noncompliance?
Monitor regulations
What should accountants demonstrate when collecting accounting information and preparing financial documents?
Professional integrity
Which of the following is unethical behavior in the operations function of business:
Sharing a vendors competitive bid information with another supplier
Which of the following is a primary factor that managers should consider when helping an employee prioritize his/her workload:
The level of importance of each activity
Which of the following is a benefit of customer relationship management:
The opportunity to create targeted marketing campaigns
By searching the company's computer records, an employee obtained confidential information about a well-known client, which s/he discussed with a friend. Eventually, the information was leaked to the media, which embarrassed the client and the business. What action could the company have taken to prevent this unethical behavior?
Use computer passwords to limit access to certain data
What technology is the most effective way to interview a job applicant who is located 1,500 miles away from the company's corporate office?
Videoconferencing
What question should the purpose statement of a project's statement of work (SOW) answer?
Why are we doing this project?
What is a Web-based tool that a business can use that provides its employees with the ability to share tacit knowledge from remote locations?
Wiki
Which of the following is an example of an unethical activity that relates to risk management:
Withholding information from insurance underwriters
Which of the following help-wanted ads is an example of a discriminatory hiring practice:
Young woman needed to answer phones
When unforeseen events change the project entirely, it is helpful to have
a back-up plan
What type of business record can a gift shop review to determine how many customers purchased items on Tuesday?
Daily sales receipts
The advantage of cross-functional work teams to businesses is that the team members
possess unique talents.
Trevor needs to determine the procedures that he needs to follow for a specific project work activity. Trevor can locate that information in the
work breakdown structure dictionary.
Which of the following statements is true about customer relationship management (CRM)
A primary goal of CRM is to maximize the long-term value of customer relationships.
What is an important question that all businesses should answer about their ethical behavior in managing their customers' information?
How do we obtain information about our customers in ways that do not violate their privacy?
By monitoring a variety of sales records on a continuous basis, a business can often develop
customer profiles
The use of statistical data might present an ethical issue for businesses if the information is
manipulated.
When interviewing potential employees, businesses should avoid asking the applicants about their
medical conditions.
Before selecting the right people to work on a project, it is important to identify the
needed skills
When a human resources department uses interactive computer simulations to help employees learn how to do their jobs, it is using technology for ___________ purposes.
training
A corporation is building a facility in the city's business district. The city requires that the facility meet certain size, style, structural, and usage requirements. These requirements are outlined in the towns
zoning ordinances.
Which of the following management functions evaluates an organization's performance and corrects any problems that may exist:
Controlling
During what phase of the project life cycle does the project manager activate project controls?
Execution
Which of the following is an example of an ethical dilemma that human resources managers may encounter:
Hiring a friend or family member
Which of the following is an example of a business managing its information in an ethical manner
The XPB Company takes precautions to maintain the privacy of its clients' information
At Company ABC, managers believe that an onsite gym, monthly office parties, and break rooms that include darts and foosball tables are essential to worker productivity. The managers are using the __________ theory.
behavioral management
Tying agreements between producers and distributors might be considered illegal if they substantially limit
competition.
Brenna wants to obtain a business degree from a well-known university. According to Alderfer's ERG theory of motivation, Brenna is seeking to satisfy a(n) ___________ need.
growth
A water-filtering company made some changes to its processes that resulted in better tasting water. This is an example of
quality improvement.
Unfair employee reward systems and favoritism are human resources activities that are considered
unethical
Isabelle is developing a document that divides a long-term project into meaningful subprojects and tasks, which she will use to guide the workflow. Isabelle is developing the
work breakdown structure.
Which of the following is an ethical issue that relates to knowledge management in the workplace:
An employee deliberately doesn't share information with management that will help the company meet its goals.
Which of the following would be part of the management function of organizing:
Assigning individual workers to specific jobs
Who is usually responsible for planning a project?
Project manager
Why do human-resource managers often post job openings on web sites such as Monster.com and CareerBuilder.com?
To recruit employees
Cutting costs is one way for a business to manage a project's __________ resources.
financial
A financial planner advises a client to make a high-risk investment. This is an unethical action if the
financial planner's primary motive is to earn a large commission.
The Consumer Product Safety Commission has the authority to regulate
hazardous products.
Employing guards and training employees to detect and report shoplifting are examples of a business's __________ measures.
loss prevention
An important aspect of upholding ethical accounting standards involves the ability to be
objective.
If an accounting firm deliberately conceals information about a client's financial status, the government may charge the business with
obstruction of justice
Production shortcuts that lower the durability of goods are unethical practices relating to
product quality.
At Company X, employees each put together a small part as it passes them on the assembly line. Rewards are given to employees who work the fastest. Managers frequently observe employees to determine how each job can be done faster. The managers are using the __________ theory.
scientific management
The Rider Automotive Company's senior engineer, assistant parts buyer, product testing coordinator, plant line worker, and marketing manager are working together on an issue related to faulty transmission lines on its best-selling four-door sedan. In this situation, the purpose of the work team is to
solve a problem.
Company B's management has determined that it must downsize. Three persons in the customer service department will lose their jobs. Which of the following records can management use to help them determine which employees to keep:
Human resources records
Katrina is using a special software program to develop a business chart that shows the employees' expertise and skills and how they access different types of information throughout the organization. What type of software is Katrina using to document the information?
Knowledge mapping
How can a business build its customers' trust and communicate its commitment to ethical practices?
Publish its confidentiality statement
Why is it important to define your project precisely?
So you can achieve your objectives
One of the roles of ethics in finance is to encourage business employees to
make the right decisions.
Which of the following statements best describes the concept of customer relationship management (CRM) in business:
Obtaining and applying information about a customer's preferences and needs in ways that will build an ongoing buyer/seller relationship
Which of the following is a form of web-based technology that business professionals use to share their expertise and to solve problems on an ongoing basis:
Online communities
Which of the following is an example of tacit knowledge
Riding a bicycle
What should managers do to prevent the project from falling behind schedule?
Track deadlines
When assessing the overall performance of a work team, important factors to consider include team cohesiveness and
communication skills.
A business advertises that its product contains specific ingredients until a government regulatory agency forces it to run ads informing consumers that the product doesn't contain all of the ingredients that the business claims it does. This is an example of __________ advertising.
corrective
An important part of the planning function of management is to determine the business's
goals.
When identifying the necessary equipment and supplies, it is important that these resources
meet the requirements of the project
Which of the following is the first step in developing a work breakdown structure (WBS) for a project: A. Ensure that work tasks are being completed in the proper order.
Divide the workload into independent work packages.
What type of software program allows a business employee and a customer to communicate in real time from a computer by typing text?
Instant messaging
Which of the following is an internal human resource that a business can use to perform the work to complete a project:
Employees
Which of the following should a business consider when developing a project plan to help control costs:
Potential problems
Which of the following situations is an unethical action associated with customer relationship management:
Selling customer lists without the customers' consent to third parties
.Loss due to shoplifting is an example of a(n) __________ business risk.
human
A business report provides statistical data indicating that the demand for a specific type of product has been increasing between three and six percent over the past several months. This information is useful to companies to
identify trends.
One action that an ethical business can take to help build the long-term trust and loyalty of its customers is to
implement a comprehensive customer privacy policy.
Shannon has worked at the XBO Company for two years in the production department. During a weekly meeting, the staff was brainstorming ideas to resolve a problem the department has been experiencing on the production line. During the meeting, Shannon told the staff about some changes that her previous company made to its production process, which increased its efficiency and outputs. Shannon's manager liked the idea, and thought that it might work at XBO. This situation illustrates the concept of
inevitable disclosure
One reason for a business to monitor its internal records is to obtain information that it can use to
make decisions about future operations.
One tool that businesses can use to allow employees and customers to share knowledge through their web sites is by posting
message boards.
When project managers ask members of the group to give short status reports, the managers are
monitoring progress.
Electrical storms, floods, and earthquakes are examples of __________ risk.
natural
One form of technology that businesses use to personalize their ongoing communication with customers is
opt-in e-mail.
The impact of some business risks can be reduced if the business transfers the risk to another business by
purchasing insurance.
What is the foundation of knowledge management?
A willingness to share expertise
Which of the following is an example of a probable conflict of interest in business operations:
A purchasing agent awards a large order to a relatives employer.
Which of the following is often the key to successfully managing a project:
Being organized
Which of the following is an activity performed during the planning phase of a project:
Budget development
Which of the following is the proper sequence for the chain of command:
Chief Executive Officer, Chief Financial Officer, Accounting Department Manager, and Accounts Payable Specialist
What is the essential component for effective knowledge management in business?
Communication
A furniture store manager who helps an employee decide when and where products should be delivered performs which management function?
Directing
How does the fragmentation of processes help to protect a company's trade secret?
Employees' knowledge is limited to a specific part of the process
The FMT Company wants to implement a software program to capture and communicate tacit knowledge. Which of the following software applications is best suited to fulfill the company's needs:
Groupware
How can a business reduce risks that are associated with a poor public image:
Implement an ethics program
A furniture manufacturer has been receiving complaints about the safety of its Model BA2X baby crib. What is the first thing the manufacturer should do?
Initiate a product recall.
What type of business records would provide a company with information about the movement of its products
Inventory
At the Kimball Manufacturing Company, Ken is the production-line supervisor, Sarah is the lead line worker, Margaret is the production-section supervisor, Maggie is the vice president of production, and William is the plant manager. Following a vertical chain of command, who does Ken report to?
Maggie
Which of the following is an example of a business violating copyright laws in the process of using another organization's information:
Making unauthorized copies of software
In which section of the statement of work (SOW) document would you find the following information: "AJB International will be responsible for collecting the research for the project, but will not interpret the results."
Scope statement
Which of the following types of customer relationship management software would be most appropriate for a company that is looking for a more efficient way to track leads, prospects, and customers:
Sales force automation technology
The Page-Turner Online Bookstore sent a questionnaire to its customers to determine how happy its customers are with its services. Customers' general responses indicated that the bookstore's lead and delivery times have improved a lot in the past three months. What aspect of quality has the bookstore evaluated?
Satisfaction
An apparel company's target market is 18- to 34-year-old females. What form of technology can the company use to communicate on an ongoing basis with its customers at their convenience?
Social media
Which of the following is the main purpose of management:
To accomplish the business's goals
Why is it important to think ahead about how you will monitor your project?
To make sure the project's quality doesn't suffer
Why is it important for businesses to interpret statistical findings?
To obtain useful information
Why is it important to build in a safety net, or padding, when identifying resources?
To plan for the unexpected
When helping a staff member establish his/her work priorities, a manager should first
ask the employee to develop a list of her/his current work activities and responsibilities.
Delegation of authority is
assigning power or duties to subordinates.
When a business communicates customer-centric values and ideals to its employees on a consistent basis, it is developing its
corporate culture.
A major project at Wilson Company is taking longer to complete than was planned. The project manager decides to hire four temporary workers. This will result in the project being completed on time. This is an example of?
crashing the schedule.
Setting a high price on a product and then advertising a big discount that actually reduces the price to a realistic level is an example of
deceptive pricing.
Angela, a busy manager, asks her assistant Frank to coordinate a large meeting. This is an example of
delegating work to others.
Ethical accounting behavior involves using
due care.
The Fisher Manufacturing Company has been receiving a lot of complaints about product breakage problems with the model 2YZ. Fisher has been working with its parts vendors and production-line personnel to try to determine why the problems are occurring. This is an example of a product-quality issue related to
durability.
Tacit knowledge is often based on experiences and personal expertise, while explicit knowledge is
easy to communicate and quantify.
Risks that are caused by changes in the market and affect the production and distribution of products are called __________ risks.
economic
To maintain a hazard-free work environment, local regulations might require businesses to undergo
safety inspections.
When Deidra was developing the statement of work (SOW) for a complex construction project, she included a statement that describes the things that the project will and won't include. This statement is defining the project
scope.
To reduce the risk of employees sharing trade secrets with industry rivals, businesses might require their employees to
sign a nondisclosure agreement
A primary purpose of preparing a work breakdown structure for a project is to
streamline the workload.
During the busy tourist season, a coastal surf shop sold 398 beach balls in June, 924 beach balls in July, and 537 beach balls in August. This information reveals that
the demand for beach balls peaked during July.