How do organizations determine how to move products to customers?
A) Promotion
B) Marketing mix
C) Place (or distribution)
D) Marketing managers
E) Personal selling feedback
In what way can a business or industry represent themselves before political bodies in
order to influence the government?
A) Personal contacts
B) Financial gifts
C) Lobbying
D) Offering favors
E) Voting
Which of the following is an informal communications network within the
organization?
A) Informal groups
B) Social groups
C) The grapevine
D) The corporate structure
E) Teams
Money frees society from a system of barter. In doing so, money is performing which of
the following functions?
A) Store of value
B) Measure of worth
C) Unit of account
D) Determination factor
E) Medium of exchange
Which of the following identifies the process of determining which outside firm will
provide service and materials for the production process?
A) Materials management
B) Purchasing
C) Inventory control
D) Inventories of information
E) Supplier selection
Which of the following would be best used when producing make-to-stock operations
or mass production of a product?
A) Fixed position layout
B) Process layout
C) Customer-product layout
D) Operations scheduling layout
E) Assembly line layout
What is another name given to human resource managers?
A) Financial managers
B) Personnel managers
C) Production managers
D) Accounting managers
E) Business development managers
Which of the following legal forms of business is owned and usually operated by a
person who is responsible for its debts?
A) Cartel
B) Corporation
C) General partnership
D) Sole proprietorship
E) Limited partnership
Which of the following do organizations need in order to be effective?
A) More leadership than management
B) More management than leadership
C) Both leadership and management
D) Either leadership or management
E) Neither leadership nor management
Which of the following may be a substitute for leadership?
A) Lax individual professionalism
B) Group divisiveness
C) Explicit plans and goals
D) A loose system of rules and procedures
E) A performance-based reward system
What is the name given to the middle manager who learns about a new project and
becomes committed to the support of the idea?
A) Stakeholder
B) Sponsor
C) Intrapreneur
D) Innovator
E) Product champion
Successful companies often focus total quality management efforts on both the quantity
and quality of goods produced or delivered, known as
A) cost of quality.
B) supply chain management.
C) material management.
D) productivity.
E) quality ownership.
A bear market can be revealed by tracking ________, which is a summary of overall
price trends.
A) the Dow Jones Industrial Average
B) market indexes
C) the value of blue-chip stocks
D) technology-based economies
E) exchange-traded funds
Managers can work to reduce waste, inefficiency, and poor performance by examining
procedures on a step-by-step basis. Which term describes this process?
A) Advance planning
B) Materials management
C) Methods improvement
D) Quality planning
E) Quality ownership
Which of the following BEST describes functional strategy?
A) A strategy for determining the firm’s overall attitude toward growth and the way it
will manage its businesses or product lines
B) A strategy at the business-unit or product-line level that focuses on improving a
firm’s competitive position
C) A strategy by which managers in specific areas decide how best to achieve corporate
goals through productivity
D) A strategy that assists first line managers in making day-to-day decisions about
motivating employees
E) A strategy that integrates an organization’s marketing goals into a cohesive whole by
focusing on the ideal product mix to achieve maximum profit potential
In a business, whose job is it to draw up plans to transform resources into products and
bring together basic resources, such as knowledge, physical materials, equipment, and
labor?
A) CEO
B) Operations manager
C) Quality manager
D) Floor foreman
E) Supply manager
Which stock exchange has the highest volume of shares traded?
A) American Stock Exchange (ASE)
B) New York Stock Exchange (NYSE)
C) National Association of Securities Dealers Automated Quotation System
(NASDAQ)
D) Philadelphia Stock Exchange (PSE)
E) Securities and Exchange Commission (SEC)
If a producer wants a product to have promotional advantage and increased attention in
the sales effort, what distribution process should they pursue?
A) Selective
B) Conflicted
C) Exclusive
D) Intensive
E) Channel captains
Which of the following theories focuses on people evaluating their treatment by the
organization relative to the treatment of others?
A) Equity theory
B) Hierarchy of needs
C) Expectancy theory
D) Goal-setting theory
E) X and Y theory
Which of the following is successful at acknowledging that different people need and
want different things from their jobs?
A) Training
B) Teamwork
C) Participative management
D) Job redesign
E) Empowerment
Which of the following BEST describes total quality management?
A) The principle that quality belongs to each person who creates it while performing a
job
B) The consistency of a product’s quality from unit to unit
C) The sum of all activities involved in getting high-quality products into the
marketplace
D) The process by which a company analyzes a competitor’s products to identify
desirable improvements
E) A certification program attesting that an operations process has met rigorous
requirements
Who is responsible for designing and implementing systems to gather, organize, and
distribute facts and data essential for the running of the company?
A) Marketing managers
B) Information managers
C) Production managers
D) Human resource managers
E) Research and development managers
Which of the following best represent the personality attributes of someone who is
considered to be an extrovert?
A) Forgiving, understanding, and good natured
B) Organized, systematics, and self-disciplined
C) Calm, resilient, and secure
D) Sociable, assertive, and open to new relationships
E) Curious, willing to listen to new ideas, and willing to change their own beliefs
Which of the following is the slowest and the cheapest mode of transportation?
A) Railroads
B) Planes
C) Pipelines
D) Water carriers
E) Trucks
Which of the following may describe charismatic leadership?
A) An approach to leadership emphasizing the perspectives of the leader
B) An approach to leadership emphasizing the perspectives of the followers
C) An approach to leadership emphasizing the perspectives of the clientele
D) An approach to leadership emphasizing the perspectives of the managers
E) An approach to leadership emphasizing the perspectives of all parties in the
organization
Which of the following is an advantage to nondirect distribution?
A) They reduce the cost of items buy making bulk purchases.
B) They do not charge commissions or markups.
C) They provide added value to the producers buy preordering services.
D) They work with related product lines of very few producers.
E) They provide added value by saving buyers time.
Which of the following is based on the knowledge a person presumes to have about
perceptions of truth and reality?
A) Affect
B) Intention
C) Attitude
D) Personality
E) Cognition
What type of partnership allows an organization to sell shares of the partnership to
investors on a public market?
A) General partnership
B) Limited partnership
C) Cooperative
D) Master limited partnership
E) Unlimited partnership
In which type of market would investors be motivated to sell because they feel prices
will fall further?
A) Bear market
B) Blue-chip market
C) Bull market
D) Large cap market
E) Composite market
What is a management information system?
A) A system that supports managers by providing daily reports, schedules, plans, and
budgets that can be used for making decisions
B) An easy-access application of an information system designed for instant access by
upper-level managers
C) An information processing application for use in business activities involving
well-defined processing steps
D) An interactive system that locates and presents information needed to support the
decision-making process
E) A repository of information resources related to the collection of data
The time it takes to double an investment can be estimated by using which of the
following?
A) Book value
B) The Rule of 72
C) Blue-chips
D) Dividends
E) Market value