1. Which of the Following Measures How Well a Job Is Performed?
1. Which of the following measures how well a job is performed?
A. Efficiency
B. Effectiveness
C. Productivity
D. Economical
2. Which of the following is an example of traditional management?
A. Participative management
B. Non-learning organization
C. Empowered employees
D. Information economy
3. Which of the following is an example of modern management?
A. Less trusting of management
B. Production economy
C. Command-and-control order
D. Concern for employees
4. Most entrepreneurs discover ______innovation.
A. incremental
B. traditional
C. reverse
D. breakthrough
5. Juan found a supplier that costs 20% less than all other suppliers who provide the same quality. This is an example of
A. effectiveness.
B. productivity.
C. economy.
D. efficiency
6. A company's growth rate is 5%, and the economy's growth rate is 3%. This is an example of ______growth.
A. supernormal
B. normal
C. negative
D. zero
7. Two competing companies meet to discuss price increases for their current products, which is likely to happen in a/an ______market structure.
A. perfect competition
B. monopolistic competition
C. oligopoly
D. monopoly
8. Which of the following measures the total market value of all final goods and services produced by a country in a given year?
A. Gross domestic product (GDP)
B. Consumer price index (CPI)
C. Gross national product (GNP)
D. Producer price index (PPI)
9. Frederick Taylor relied on ______to make management decisions.
A. scientific studies
B. rules-of-thumb-based decisions
C. traditional practices
D. management practices
10. Barriers to change can be found in
A. dysfunctional corporate cultures.
B. agile departments.
C. borderless departments.
D. functional corporate cultures.
11. Which of the following organizational forces addresses the values of an individual?
A. Political
B. Economic
C. Technological
D. Social
12. In centralized decision making, authority is
A. kept at senior management levels.
B. delegated to wherever it's needed to solve problems.
C. shared throughout the organization.
D. pushed down to front-line employees
13. Employee empowerment can be found in ______departments.
A. agile
B. silo
C. legacy
D. semi-silo
14. Which of the following is an advantage of decentralized decision making?
A. Optimization of power
B. Optimization of resources
C. Autonomy
D. Knowledge in policies and procedures
15. Which of the following deals with the minimal use of resources?
A. Efficiency
B. Effectiveness
C. Productivity
D. Economy
16. A company's growth rate is 4%, and the economy's growth rate is 6%. This is an example of ______growth.
A. zero
B. supernormal
C. negative
D. normal
17. Which of the following types of organizations operate to protect, preserve, and educate citizens? A. Nonprofit
B. Porous
C. Mutual-benefit
D. Commonweal
18. Which of the following competitive forces brings low prices, high costs, and low profits?
A. Availability of complementary products
B. Rivalry among existing firms
C. Threat of new entrants
D. Bargaining power of suppliers
19. How do organizations formulate and implement strategies that provide a competitively superior fit between the organization and its environment to achieve its goals?
A. Developing stretch goals
B. During supernormal growth business cycles
C. Using the strategic management process
D. Becoming porous organizations
20. A company decides to improve its product warranty to show customers it has higher quality when compared to other products in the marketplace. This is an example of
A. bargaining power of suppliers.
B. rivalry among existing firms.
C. availability of complementary products.
D. threat of new entrants.
1. Which of the following is a temporary team to work on a specific problem and find solutions?
A. Working group
B. Team
C. Committee
D. Task force
2. A food company is planning to change the formula for its popular breakfast cereal. It should create a/an ______to understand how consumers would value the new formula.
A. focus group
B. internal team
C. committee
D. task force
3. Understanding how to operate machinery is a technical skill, while understanding how to motivate others is a/an ______skill.
A. conceptual
B. executive
C. natural
D. human
4. Which of the following describes the process of inspiring, influencing, and guiding employees to participate in accomplishing common goals and objectives?
A. Empowerment
B. Open-book management
C. Leadership
D. Management
5. Which of the following is a form of direct, intense, and detailed training?
A. Mentoring
B. Coaching
C. Job delegation
D. Job rotation
6. Daniel is a store manager and told his staff that they can issue customer refunds up to $25. For refunds greater than $25, his staff needs Daniel's approval. This is an example of management by
A. risk.
B. standards.
C. exception.
D. authority.
7. Which of the following bases of power closely parallels formal authority?
A. Referent
B. Legitimate
C. Reward
D. Coercive
8. Which of the following statements about team performance is true?
A. Individual behavior affects team performance.
B. Individual results don't matter.
C. Individual behavior is the only factor affecting individual performance.
D. Team results are the only factor affecting team performance
9. Strategy defines what an organization needs to do, and ______defines how it will do it.
A. planning
B. directing
C. controlling
D. organizing
10. Senior management establishes a ______to revise its policy about using social media at work.
A. task force
B. committee
C. vertical team
D. working group
11. A ______leader shares successes with the team and takes personal responsibility when things go wrong.
A. servant
B. Level 5
C. democratic
D. virtual
12. Which of the following managerial styles comes across as a "command-and-control"?
A. Behavioral
B. Intuitive
C. Directive
D. Analytic
13. Which of the following identifies root causes of problems and issues in an effective manner?
A. Force-field analysis
B. Divide and conquer
C. Trial and error approach
D. Investigative questions
14. Which of the following is an asset for groups and teams?
A. Time-consuming process
B. Groupthink
C. Acceptance of solutions
D. Group conformity
15. Which of the following is a nonprogrammed decision?
A. Reviewing the checklist of procedures before ending a work shift
B. Reordering supplies once they get below a certain level
C. Putting a monthly expense on a credit card auto pay
D. Deciding which employee to hire for a new position
16. Which of the following problem-solving steps requires a consensus-building approach?
A. Implement the solution
B. Select a solution
C. Create alternative solutions
D. Identify the problem
17. Employees expect their managers to practice management by
A. example.
B. objectives.
C. walking around.
D. exception.
18. Which of the following plans focus on the short-term for a specific department?
A. Strategic
B. Contingency
C. Tactical
D. Operational
19. An analyst in the marketing department needs to send a report to the accounting manager. This is an example of ______communication.
A. diagonal
B. upward
C. lateral
D. downward
20. Cheryl instituted a new commission structure for her team of salespeople, who now receive additional cash bonuses for meeting sales targets. This is an example of a/an ______reward.
A. extrinsic
B. intrinsic
C. job enlargement
D. job enrichment
1. A company needs to make a 20% profit on all products. What pricing method should it use to achieve its profit goal?
A. Target-return
B. Markup
C. Cost-plus
D. Perceived-value
2. Referring to the pricing continuum, profits would be lower under which of the following prices?
A. Based on competitors
B. Based on costs
C. Very low
D. Very high
3. Regarding product mix, credit terms are a part of
A. promotion.
B. price.
C. product.
D. place.
4. Regarding supplier performance measurement, the length of time required to settle claims comes under ______measures.
A. delivery
B. cost/price
C. service
D. quality
5. An air conditioning manufacturer has divided its customers into groups: residential, factories, and office buildings. This is called
A. market basket analysis.
B. customer relationship management.
C. segmentation.
D. marketing.
6. Which of the following represents the costs for warehouse storage and handling of finished goods inventory?
A. Ordering
B. Quality
C. Stock-out
D. Carrying
7. When problems are encountered with continuous improvement, how should problems be solved?
A. To find the person responsible
B. To find the root cause
C. To determine the most urgent need
D. To determine value and non-value activities
8. Buying or selling an expensive antique car via electronic auction generally occurs between
A. one buyer and one seller.
B. one seller and many buyers.
C. one buyer and many sellers.
D. many buyers and many sellers.
9. Which of the following customers are the most valued to a business?
A. Loyal
B. Average
C. Major
D. Below-average
10. A toy store has a new game in stock, but customers aren't buying it. Which of the following types of inventory increases when customers aren't buying this game?
A. Work-in-process
B. In-transit
C. Finished goods
D. Raw materials
11. Which of the following types of inventory is on the way to purchase points where customers can buy the inventory?
A. Work-in-process
B. In-transit
C. Raw materials
D. Finished goods
12. Regarding supplier performance measurement, the availability of a material within a quoted lead- time comes under ______measures.
A. cost/price
B. quality
C. service
D. delivery
13. Which of the following customers pose a high risk if ignored?
A. Below-average
B. Average
C. Loyal
D. Major
14. Which team executes the marketing function?
A. Pricing
B. Sales
C. Operations
D. Advertising
15. At which inventory level is operations management considered to be doing an excellent job?
A. Absolute maximum level
B. Below the minimum level
C. Above the minimum level
D. Absolute minimum level
16. A company could incur excessive costs and lose money if they primarily focus on ______customers.
A. loyal and average
B. major and average
C. loyal and major
D. average and below-average
17. Continuous improvements are made possible when the focus is on quality at the
A. supplier 3 source.
B. supplier 1 source.
C. supplier 2 source.
D. factory source.
18. Regarding selling methods, professional salespeople spend less time on
A. pre-approach and planning.
B. presenting the product to a client.
C. prospecting clients.
D. identifying a client's needs.
19. Regarding service characteristics, ______refers to changes by season, day of the week, or time of the day.
A. inseparability
B. highly differentiated marketing systems
C. intangibility
D. fluctuating demand
20. Which of the following represents the costs associated with producing defective finished goods?
A. Carrying
B. Ordering
C. Quality
D. Stock-out