In a ________ organization, a manager usually has a wide span of control.
A) tall
B) line
C) flat
D) line-and-staff
E) formal
The criteria against which performance is measured are referred to as ________.
A) standards
B) tools
C) controls
D) measures
E) frameworks
In an adjustable rate mortgage, ________.
A) collateral is not accepted as security
B) initial interest rates are very high
C) amortization is always positive
D) borrowers will have a low credit rating
E) people can buy more house than they can afford
Small companies tend to differ from large ones because ________.
A) they have a wider focus compared to larger companies
B) they are mostly launched with more financial backing than larger companies
C) they have less freedom to innovate and move quickly compared to larger companies
D) they can react to market changes and make decisions more quickly than larger
companies
E) they are more bureaucratic compared to larger companies
________ is money that an organization brings in through the sale of its goods and
services.
A) Profit
B) Revenue
C) Sales
D) Capital investment
E) Finance
Which of the following is an example of a lifestyle business?
A) A paper-recycling unit that employs about 800 employees.
B) A self-employed landscape designer.
C) Nature’s Delights, an international gourmet food chain reputed to be the world’s
leading retailer of natural and organic foods.
D) Museum of Fine Arts, a government-funded museum that houses a collection of 19th
and 20th century American, German, and French paintings.
E) Freedom Books, a firm that is the leader in the English-language book publishing
sector.
A new union is formed through a certification election in Alberco Manufacturing. The
company and the union fail to reach an agreement in collective bargaining. Both parties
appoint a panel of judges to oversee the discussions and agree that the decision of the
panel will be binding. This solution is an example of ________.
A) grievance procedure
B) arbitration
C) mediation
D) injunction suit
E) decertification
The overall strategic plan of an organization might be supported by plans from
functional areas, such as research and development, manufacturing, and marketing. The
plans from these functional areas are called ________ plans.
A) appraisal
B) strategic
C) contingency
D) tactical
E) corporate
The study of the statistical characteristics of a population is called ________.
A) demographics
B) psychographics
C) behavioral segmentation
D) anthropology
E) ethnographic research
________ refers to a multidimensional review in which a person is given feedback from
subordinates, peers, superiors, and possibly outside stakeholders such as customers and
business partners.
A) Skills inventory
B) Coaching
C) 360-degree review
D) Behaviorally anchored rating scale
E) Benchmarking
Which of the following refers to a negotiation between union and management
negotiators to forge the human resources policies that will apply to all employees
covered by a contract?
A) collective bargaining
B) grievance procedure
C) product negotiation
D) progressive discipline
E) grievance negotiation
A firm has $30,000 cash and other current assets amount to $55,000. Total amount of
current liabilities add up to $50,000. Calculate the total working capital of this firm.
A) $20,000
B) $5,000
C) $30,000
D) $85,000
E) $35,000
A situation in which an individual makes a decision that is morally wrong or illegal is
an ethical dilemma.
________ create value by performing activities that deliver some benefit to the
customer, such as automotive repair, banking, health care and massage therapy.
A) Goods-producing businesses
B) Manufacturing businesses
C) Service businesses
D) Merchandising businesses
E) Not-for-profit organizations
Alex has been working as technical service representative for Convergence
Technologies, a software development firm for two years. His duties and
responsibilities include providing technical assistance to end users and preparing
reports on product problems encountered. During a performance review meeting with
his manager, Alex mentions that he finds his job to be very monotonous. Alex’s
manager makes his job more challenging and interesting by asking him to conduct
technical interviews of potential employees, as well as train and mentor new hires. In
this example, Alex’s manager uses which of the following strategies to motivate him?
A) benchmarking
B) centralization
C) decentralization
D) job enrichment
E) cross-training
Technical Solutions Inc., a leading software solutions firm in Dallas with 1000
employees, is facing a financial crunch because of the economic downfall. Several of its
key investors have backed out, and it has lost some projects to its competitors. The
CEO of the company considers cost-cutting measures to turn around the organization.
An analysis of the situation reveals that many of its employees have become redundant
as their work roles have reduced considerably. The firm also employs a large number of
people who are almost at the retirement age. Which of the following measures will be
most appropriate for the company, from a business perspective?
A) downsizing
B) vertical integration
C) outsourcing
D) diversification
E) market penetration
Net sales – cost of goods sold = ________.
A) working capital
B) current asset
C) gross profit
D) net profit
E) current liability
________ refers to tying rewards to profits or cost savings achieved by meeting specific
goals.
A) Gain sharing
B) Employee benefits
C) Wellness program
D) Sliding-scale plan
E) Cafeteria plan
________ are not-for-profit, member-owned cooperatives that offer deposit accounts
and lending services to consumers and small businesses.
A) Loan associations
B) Retail banks
C) Credit unions
D) Thrift banks
E) Merchant banks
According to generally accepted accounting principles (GAAP), earnings before
interest, taxes, depreciation, and amortization (EBITDA) is the preferred measure of
profitability.
Discuss McClelland’s three-needs theory. How does the three-needs theory differ from
other classical theories?
Compare and contrast public accountants and private accountants.
Compare and contrast private corporations and public corporations.
Compare and contrast retail banks and merchant banks.
Compare and contrast merchant wholesalers with agents and brokers.
Explain the significance of the income statement of a business.
What is defensive CSR? How is it different from proactive CSR?
Describe the six major functional areas in a business enterprise.
Compare and contrast call options and put options.
