The situation in which one supplier thoroughly dominates a market and essentially
shuts out other competitors is called monopoly.
The degree to which information flows freely within an organization is termed as
insider trading.
Compared to starting a new business, buying an existing business can involve more
work and more risk.
Authorization cards are cards signed by employees to indicate interest in having a union
represent them.
One company buys a controlling interest in the voting stock of another company in a
merger.
Negative reinforcement encourages a particular behavior to be repeated through the
reduction, removal, or absence of an unpleasant outcome.
The term unfair labor practices refers to unlawful acts made by either unions or
management.
Boycott is a temporary work stoppage aimed at forcing management to accept union
demands.
Proxy is a document that authorizes another person to vote on behalf of a shareholder in
a corporation.
System is an interconnected and coordinated set of elements and processes that converts
inputs to desired outputs.
Online retailers can be either Internet-only operations or online extensions of
store-based operations.
Norris-La Guardia Act of 1932 allows companies freedom to obtain injunctions against
union strikes.
Value webs are multidimensional networks of suppliers and outsourcing partners.
Expectancy theory refers to the idea that employees base their level of satisfaction on
the ratio of their inputs to the job and the outputs or rewards they receive from it.
Effective orientation programs help employees become more productive in less time,
help eliminate confusion and mistakes, and can significantly increase employee
retention rates.
If the Fed buys Treasuries on the open market, the country’s money supply increases.
A stop order is an order to sell a stock when its price falls to a particular point.
Revenue obtained through selling assets is an example of an external source of income.
Informal standards of conduct that guide team behavior are called groupthink.
Channel organization and control refers to attempts to coordinate the activities of a
channel into a cohesive marketing system.
________ refers to the percentage of the workforce that leaves every year.
A) Cyclical unemployment
B) Attrition rate
C) Employee alignment
D) Employee retention
E) Employee turnover
Kelly, who had recently joined GoCo, Inc., participates in all corporate events as she
wants to be accepted as a friend by her co-workers. According to David McClelland’s
three-needs theory, this desire is known as ________.
A) need for power
B) need for achievement
C) need for self-esteem
D) need for affiliation
E) need for security
An employee’s rational and emotional commitment to his or her work is termed as
________.
A) engagement
B) motivation
C) work satisfaction
D) drive
E) competence
The policies and practices of government bodies would shape the ________
environment for a business.
A) legal and regulatory
B) technological
C) social
D) economic
E) market
________ made it illegal for employers to practice sexism or discrimination on the
basis of gender.
A) The Equal Pay Act of 1963
B) The Civil Rights Act of 1964
C) The Wagner Act
D) The Social Security Act
E) The Fair Labor Standards Act
________ offer financial services to businesses, particularly in the area of international
finance.
A) Investment banks
B) Retail banks
C) Private banks
D) Credit unions
E) Merchant banks
ACZ Pharmaceuticals, an American multinational pharmaceutical corporation, conducts
“HIV/AIDS Awareness” camps in various cities across the United States. The firm also
uses this campaign to promote its latest range of drugs. In this example, ACZ
Pharmaceuticals uses ________.
A) place marketing
B) social commerce
C) stealth marketing
D) cause-related marketing
E) diversification
Term bonds are bonds that ________.
A) mature all at the same time
B) can be paid off when needed
C) mature four times a year
D) mature at various times
E) are backed by company-owned property
Which of the following statements is TRUE about etiquette?
A) The rules of etiquette are easily understood and memorized.
B) Etiquette means meeting your commitments, such as staying on schedule and within
budgets.
C) Etiquette blunders can have serious financial costs through lower productivity and
lost business opportunities.
D) It is preferable not to ask questions regarding the etiquette of a culture, as people
will tend to become offended by your curiosity.
E) Travel guidebooks are a poor source of information about etiquette in other
countries.
Which of the following statements is TRUE regarding a business mindset?
A) It involves seeing the business from outside in.
B) It is incompatible with corporate responsibility.
C) It involves appreciating the challenges a company faces in satisfying customer
needs.
D) It involves acknowledging that businesses always benefit society.
E) It involves ignoring one’s customer experiences.
Eurotec, a manufacturer of security systems in Italy, merges with a company in China to
expand its reach. This is an example of a ________ merger.
A) product-extension
B) vertical
C) conglomerate
D) retail
E) market-extension
The manager of a firm was accused of diverting company funds for personal use.
Andrew was the person responsible for reviewing his financial activities to see if any of
the finances were diverted for personal use, and to determine if he had performed any
financial crime. Andrew is most likely to be a(n) ________.
A) forensic accountant
B) chief information officer
C) external auditor
D) operations manager
E) treasurer
Activities undertaken by businesses to recruit and promote members of groups whose
economic progress had been hindered through either legal barriers or established
practices are known as ________.
A) greenwashing
B) sustainable development
C) multiculturalism
D) affirmative action
E) selective recruiting
Only specially selected retailers are allowed to stock and sell the orthopedic shoes by
Ace Footware Manufacturers. The firm sells through a limited number of retailers and
develops solid working relationships with the retailers to ensure that the product is
properly merchandised. The retailers selling the products also provide sales and service
support for Ace Footware products. Ace Footware Manufacturers uses which of the
following market coverage strategies?
A) strategic sourcing
B) multichannel retailing
C) selective distribution
D) retail theater
E) disintermediation
Which of the following statements is TRUE regarding ethical decision-making?
A) When an employee is unable to make a decision because more than one side of an
issue can be supported with valid arguments, it is called an ethical lapse.
B) The disclosure of information by a company insider that exposes unethical behavior
by others within the organization is called an ethical lapse.
C) Stakeholders’ needs often conflict, requiring managers to make tough decisions
about resource allocation.
D) Making objective decisions will lead to ethical lapses.
E) When the question of what is right and what is wrong is clear, ethical decisions are
easy to implement.
A manager has the capability of reducing his disruptive impulses and moods. He also
has the ability to understand others’ feelings. These capabilities are indicative of
________.
A) low cognitive intelligence
B) high degree of autocracy
C) low social intelligence
D) high emotional intelligence
E) high cognitive intelligence
Grouping people within an organization according to function, division, matrix, or
network is called ________.
A) departmentalization
B) decentralization
C) centralization
D) span of control
E) line-and-staff organization
According to the job characteristics model, the degree to which the employee has
responsibility for completing an entire task is called ________.
A) task significance
B) skill variety
C) autonomy
D) task availability
E) task identity
Arthur is a plant supervisor at Skyline Constructions. Twenty construction workers
report to Arthur. Arthur provides them the work designs and schedules every week and
does not allow them to make any changes to the schedule. Workers often complain that
he is not receptive to suggestions from them. Arthur is following ________ leadership
in this case.
A) transformational
B) autocratic
C) democratic
D) laissez-faire
E) participative
A wage differs from salary in that the wage ________.
A) is based on a fixed amount per year
B) falls under the purview of the Fair Labor Standards Act
C) is paid by the unit of time
D) does not fall under the purview of the Fair Labor Standards Act
E) relates to nonexempt employees
A(n) ________ is an unincorporated company owned by two or more people.
A) limited company
B) partnership
C) corporation
D) S corporation
E) proprietorship
A survey revealed that a product has good brand awareness. This means that ________.
A) buyers will not accept substitutes of the brand
B) the brand does not have many substitutes
C) people are familiar with the brand
D) the brand represents a specialty product
E) majority considered the brand as a preferred one
Do you think having a positive culture is important to an organization? Explain your
answer.
Compare and contrast trade promotions with consumer promotions.
Describe the importance of the World Trade Organization.
Choose ten different products from ten different industries. Classify each of these
products according to its product life cycle stage.
Compare and contrast scientific management with Hawthorne effect.
Identify and discuss the three categories of investment banks.
Describe a bull market and a bear market.