What advantage does a communication system using VSAT satellite have?
A) Speed
B) Low cost
C) Privacy
D) Groupware
E) Spyware
Which of the following refers to the rules and procedures governing the content and
form of financial reports?
A) National bookkeeping standards
B) Core competencies for accounting
C) Accounting and financial rules
D) National guidelines of accounting principles
E) Generally accepted accounting principles
What are the tangible products bought strictly for personal use?
A) Consumer goods
B) Services
C) Relationship goods
D) Data
E) Industrial goods
In exercising strategic leadership, what is a leader MOST likely to do?
A) Focus on company efficiency
B) Focus on hiring the right people
C) Align the company with its environment
D) Avoid environmental impact on the firm
E) Engage the firm with community organizations
Which material management process describes the movement of finished goods from a
business to the customer?
A) Procurement
B) Purchasing
C) Inventory control
D) Transportation
E) Warehousing
What process is used to assign work to subordinates?
A) Authority
B) Decentralization
C) Delegation
D) Staffing
E) Matrix
What term refers to the way in which a business tries to balance its commitments to
groups and individuals in its social environment?
A) Business ethics
B) Socialization
C) Stakeholder consciousness
D) Social responsibility
E) Corporatization
Which of the following types of tariff is meant to discourage the import of particular
products?
A) Revenue tariff
B) Quota tariff
C) Labor tariff
D) Subsidy tariff
E) Protectionist tariff
With what type of exchange rate does the value of a country’s currency remain constant
relative to that of another country?
A) Floating
B) Indexed
C) Fixed
D) Adjusted
E) Deflated
Which of the following contains information on each employee’s education, skills, work
experiences, and career aspirations?
A) Managerial grid
B) Employee information system
C) Job analysis
D) Job specification
E) Labor forecast
Which of the following activities describes the development stage of
commercialization?
A) Building a prototype
B) Testing the product to see if it meets performance requirements
C) Selling the product on a trial basis in limited areas
D) Beginning full-scale production and marketing
E) Testing consumer reaction to the product in limited areas
What are everyday social interactions among employees that transcend formal jobs and
job interrelationships called?
A) Traditional structure
B) Informal organization
C) Networking opportunities
D) Production organization
E) Community structure
When businesses work to honor warranties, charge fair prices and stand behind the
quality of their products, what stakeholder group are they supporting?
A) Customers
B) Employees
C) Investors
D) Suppliers
E) Local communities
What identifies performance targets used by organizations and their managers to
measure success or failure at every level?
A) Tactics
B) Goals
C) Strategies
D) Mission statements
E) Promotions
What condition will be created when gaining a national competitive advantage by
developing strong local or regional suppliers?
A) Factor conditions
B) Strategies and structures
C) Demand conditions
D) Rivalries
E) Related and supporting industries
What type of consumer good is more expensive and therefore receives more evaluation
of alternatives before the purchase is made?
A) Specialty goods
B) Production items
C) Shopping goods
D) Expense items
E) Capital items
Which of the following breaks large tasks down to a series of smaller steps and includes
all activities to successfully perform the task?
A) Master schedule
B) Coordination schedule
C) Gantt chart
D) Detailed schedule
E) PERT chart
Which of the following indicates that an employee will work towards their goals if they
believe they have a reasonable opportunity to achieve those goals?
A) Equity theory
B) Expectancy theory
C) Maslow’s hierarchy of needs
D) Hygiene factors
E) Herzberg’s two-factor theory
What type of power is granted through the established hierarchy within the
organization?
A) Legitimate power
B) Reward power
C) Referent power
D) Expert power
E) Coercive power
Which of the following will a large firm utilize when it needs temporary storage space
for a large amount of products in immediate demand?
A) Public warehouses
B) Store stockrooms
C) Relay warehouses
D) Private warehouses
E) Storage warehouses
Which term identifies the grouping of jobs into logical units?
A) Specialization
B) Accountability
C) Authorization
D) Departmentalization
E) Process management
What is the basis for a market economy?
A) The ability to pursue an interest with minimal government restriction.
B) The ability to limit profits on competitors based on government restriction.
C) The ability to offer a good or service at a variety of price points.
D) A limitation on the number of competitors the government will allow within a
specific geographic region.
E) A large number of smaller firms in an industry will limit influence.
When does the collective bargaining process begin?
A) When the contract is ratified by the members
B) When the bargaining zone is identified
C) When the union is recognized as the official bargaining agent
D) When union and management representatives agree to contract terms
E) When the employer establishes a maximum limit
How does the lack of global accounting standards affect U.S.-based companies?
A) Unethical U.S. companies will use whichever standard creates the most benefit for
them.
B) Using standards in countries where they do business allows for greater opportunity
in the international market.
C) Reporting performance in a variety of consolidated statements for global affiliates
will minimize understanding, thereby minimizing attempted leveraged buyouts.
D) There may be inconsistent and conflicting information that create confusion for
stakeholders.
E) Assets can be values according to one standards, revenue and debt according to other
standards, in an overall goal of presenting positive performance levels.
Which of the following has played an increasingly important role in the growth of the
communication, including the company grapevine?
A) The accuracy of information shared along the grapevine
B) The emergence of smaller organizations, fewer mergers and acquisitions
C) The move of facilities from the suburbs to the inner cities
D) The availability of information technology
E) The increased communication with people outside the organization and decreased
communication with those inside the organization
Why is it important to calculate purchasing power parity in the global market?
A) It indicates how much consumers will pay for goods and services.
B) It determines interest rates on short-term debt.
C) It identifies how much the nominal GDP should be adjusted.
D) It determines standards of living across the globe.
E) It indicates the level of disposable income in developed nations.
What caused manufacturing jobs to move from Mexico to China in the late 1990s?
A) Increases in Mexico’s cost of living and wages
B) Modernization of facilities in China
C) Improved international travel abilities
D) Increased use of technology in China
E) Higher levels of education and professional jobs in Mexico
Which of the following is the LEAST important influence on consumer behavior?
A) Psychological factors
B) Personal factors
C) Social factors
D) Technological factors
E) Cultural factors
Which of the following is an advantage for a retailer who is using e-catalogs?
A) Inventory in the store does not have to match the catalog.
B) The cost to maintain and access the catalog is minimal.
C) Specialty products reach a better defined target market.
D) Several virtual storefronts can be represented in the catalog.
E) The e-catalog is not dependent on search engines such as Yahoo! or Google.
Which of the following statements BEST describes why a decrease in reserve
requirements often results in an increase in the money supply?
A) A decrease in reserve requirements gives banks more money to better determine
their interest rates.
B) A decrease in reserve requirements gives banks more money to pay off their debts.
C) A decrease in reserve requirements gives banks more money to lend out.
D) A decrease in reserve requirements gives banks more money to offset lower interest
rates.
E) A decrease in reserve requirements gives banks more money to reward their
employees for meritorious financial ventures.
What is the advantage of using agents and brokers when a firm does not have its own
sales force?
A) Agents and brokers have extensive knowledge of the needs of consumers.
B) Agents and brokers gather and sort information for online consumers.
C) Agents and brokers can act as e-intermediaries for internet sales.
D) Agents and brokers have extensive knowledge of the markets and merchandise.
E) Agents and brokers encourage syndicated selling.
How does a realistic market potential estimate affect small business success?
A) It allows small business owners to know how to modify a product for consumers.
B) It allows small business owners to have a clear picture of their target segments.
C) It allows for better use of social media based marketing efforts.
D) It increases the ability to be flexible in pricing strategy.
E) It provides a more accurate understanding of fixed and variable costs.
Which of the following is a basis for a firm to be listed on the New York Stock
Exchange?
A) Headquarters in New York
B) Total value of outstanding stock
C) Industry in which the company operates
D) Number of shares of stock
E) Global operations
What options are available to the union when contract negotiations break down?
Discuss the balance of trade in the United States and how it affects debt.
Identify and explain the four types of decisional roles and the function of each role.
What is a mission statement?
What is the difference between coupons and premiums?
What limits the economic side of using railroads for transportation?
Explain the difference between debt financing and equity financing.
How do issues of social responsibility and ethics affect small business?
How can managers minimize the chance of workplace violence?
What is the International Accounting Standards Board?
Describe the Check Clearing for the 21st Century Act and its effect on the writing of
checks for the future.
Explain the difference between angel investors and venture capital.
When giving an unsecured loan, what might a bank require?
While the ultimate objective of any promotion is to increase sales, marketers may have
other objectives. In particular, why would adding value to a product be seen as an
important objective for a promotion team?
Briefly summarize the steps in the delegation process.
Discuss the advantages and disadvantages of corporations.