Job enrichment expands a job horizontally.
High-level managers rely heavily on subordinates to collect, analyze, and summarize
information.
Economics is the study of how a society uses its scarce resources to produce and
distribute goods and services to its citizens.
At the top of Maslow’s hierarchy is self-actualization need.
The Age Discrimination in Employment Act outlaws mandatory retirement based on
age alone.
A company’s price/earnings ratio is determined by dividing the market value per share
by the earnings per share.
A management pyramid is used to exhibit managerial roles without defining a corporate
hierarchy.
The four indicators, engagement, satisfaction, commitment, and rootedness can identify
who is motivated and who isn’t, as well as explain why.
Consumers (reached by retailers) and organizations (reached by wholesalers) respond to
marketing programs the same way, because their motivations are similar.
A horizontal merger occurs when different companies at the same stage or level merge.
DBS bank has formed a special department to attract investments from wealthy
individuals. The new department aims to obtain accounts that maintain a minimum
balance of $20,000 or more. It also aims to offer premium credit cards and asset
management services to such individuals. This is an example of ________.
A) investment banking
B) retail banking
C) thrift banking
D) merchant banking
E) private banking
Labor unions ________.
A) form contracts to spell out formal procedures for disciplining
B) will lead to lower employee compensation levels
C) give more importance to skills than seniority
D) are fully sponsored by the employers
E) cause a significant improvement in organizational productivity
Publicity efforts that portray a company as being environmentally friendly when its
actions speak otherwise are called ________.
A) environmental minimalism
B) quasi-environmentalism
C) greenwashing
D) collectivism
E) proactivism
Danny leads a team of fifteen programmers. Danny divides the project into independent
modules and assigns each programmer a module. Danny tells the employees that they
are responsible for the completion of the modules and he would assist them only if they
need help. Identify the leadership style that Danny is following.
A) democratic leadership
B) directive leadership
C) transactional leadership
D) autocratic leadership
E) laissez-faire leadership
Which of the following is the main purpose of just-in-time systems?
A) disintermediation of distribution
B) bettering work scheduling
C) strategic analysis
D) capacity improvement
E) better inventory management
Albama Associates is a consulting firm owned by a few entrepreneurs. Rogo
Consulting, a large consulting firm, tries to buy shares from some of the shareholders of
Albama to obtain control of the company without making a formal acquisition proposal
with the management. Albama’s management invites a third party to acquire the
company to prevent a hostile takeover by Rogo Consulting. This approach used by
Albama to prevent hostile takeover is an example of a ________.
A) white knight tactic
B) counteroffer
C) proxy fight
D) direct offer
E) poison pill defense
While gross domestic product (GDP) considers where the production occurs, ________
considers who is responsible for the production.
A) human development index (HDI)
B) producer price index (PPI)
C) gross national product (GNP)
D) consumer price index (CPI)
E) economic stability index (ESI)
A reduction in a manufacturer’s inventory turnover ratio is likely to indicate that the
________.
A) market growth has been very high
B) sales are slowing down
C) forecasting has been accurate
D) company is in a strong financial position
E) company has long-term debt obligations
Which of the following statements is TRUE regarding the failure rates of new
businesses?
A) It is possible to calculate a precise figure that represents all types of businesses
across all industries.
B) The definition of “failure” remains the same across businesses and business owners.
C) Establishing a time frame is not essential for a failure rate to have any meaning.
D) Structural changes in the economy are unrelated to the failure rates of new
businesses.
E) The failure rate of new businesses is usually high during the first year.
Typically, labor unions seek to protect employee interests by ________.
A) negotiating with employers for better wages and benefits
B) funding skill-improvement programs for employees
C) indirectly working to improve working conditions
D) providing annual bonuses and benefits to employees
E) indirectly involving in salary negotiations with the employer
Off-price retailers differ from discount stores in that off-price retailers ________.
A) offer many customer services
B) require club membership
C) offer a limited range of convenience goods, long service hours, and quick checkouts
D) sell a variety of everyday goods below the market price by keeping their overhead
low
E) sell designer labels and other fashionable products at steep discounts
Melissa is a pharmaceutical sales representative and her compensation includes a
percentage of her sales each quarter. This type of pay is called ________.
A) sliding-scale plan
B) cafeteria plan
C) knowledge-based pay
D) salary
E) commission
Which of the following statements is TRUE about expectancy theory?
A) Expectancy theory focuses more on the specific forces that motivate employees and
less on the process they follow to seek satisfaction in their jobs.
B) Expectancy theory suggests that employee satisfaction depends on the perceived
ratio of inputs to outputs.
C) Research into expectancy theory has led to thinking about the broader concept of
organizational justice, or perceptions of fairness in the workplace.
D) Expectancy theory identifies four primary drives that underlie all motivation.
E) Expectancy theory states that the effort employees will put forth depends on their
beliefs regarding the rewards that the organization will give in response to that
performance.
JustBooks Company is a U.S.-based international wholesaler specializing in
Afro-American books and children’s literature. The firm purchases books from
publishers, has physical possession of the books, takes legal title to them, and sells them
to retailers for resale. The firm also offers a wide variety of services including setting
up displays in retail outlets, and marking prices on books. JustBooks Company can be
classified as a(n) ________.
A) rack jobber
B) drop shipper
C) broker
D) agent
E) specialty store
Which of the following reports is best suited to analyze an organization’s profitability
over a period of time?
A) statement of financial position
B) balance sheet
C) cash flow statement
D) income statement
E) statement of current assets
A bond’s face value is $2000. Its coupon is 9 percent. The bond’s present market value
is $1800. What is the current yield of the bond?
A) 12 percent
B) 6 percent
C) 9 percent
D) 8.1 percent
E) 10 percent
Which of the following is an example of bad etiquette?
A) Daniel indulged in excessive drinking during a company dinner.
B) Alice was forced to take leave without prior notice due to a family emergency.
C) Seth does not hesitate to express clearly what he expects from the interns working
under him.
D) Lisa, being a vegan, avoided having meat and milk-based dishes during a meeting
with a client.
E) Jason, an American who is about to go to a client’s office in Japan, refers to a travel
guidebook to gather knowledge about the norms and customs prevalent in Japan.
A(n) ________ is the highest-ranking accountant in a company, responsible for
overseeing all accounting functions.
A) inventory manager
B) controller
C) treasurer
D) credit manager
E) cost accountant
Which of the following statements is TRUE of tactical plans?
A) Tactical plans vary by company and business function.
B) These plans refer to the strategic plans of organizations.
C) Tactical plans are prepared for long-term purposes.
D) Tactical plans cover all functions in an organization.
E) Operational issues are not covered under tactical plans.
Kyle Creative Solutions, an advertising firm based in Lakeland, Florida, achieves
cost-cutting goals through significant reduction in use of resources, better
time-management, and increased productivity. The top managers of the firm decide to
reward the employees of the firm, for their contribution towards the company’s goals,
by distributing a portion of the savings amongst the employees. In this example, Kyle
Creative Solutions uses which of the following incentive programs?
A) commission
B) cafeteria plan
C) gain sharing
D) sliding-scale plans
E) wellness programs
________ accounts represent a firm’s cash on hand as well as economic value that can
be converted to cash or is expected from customers, minus what it is scheduled to pay
out.
A) Capital budget
B) Trade credit
C) Project budget
D) Working capital
E) Operating budget
________ policy involves changes in the government’s revenues and expenditures to
stimulate a slow economy or dampen a growing economy that is in danger of
overheating and causing inflation.
A) Fiscal
B) Taxation
C) Cyclical
D) Antitrust
E) Monetary
Employee retention programs ________.
A) aim to increase the turnover rate
B) list potential replacements for key positions in a firm
C) evaluate job requirements and create job specifications
D) aim to hire more contingent employees
E) ensure a steady supply of experienced employees for new opportunities
Joseph is a new sales agent at Clevenger & Co., a firm that sells life and health
insurance plans. Joseph is asked to identify individuals in a specific neighborhood who
might need insurance services and shortlist those individuals who are likely to have the
available money to purchase the firm’s insurance plans. In this example, the task given
to Joseph is termed as ________.
A) consumer promotion
B) consultative selling
C) prospecting
D) behavioral targeting
E) trade promotion
Discounts or other financial considerations offered by producers to wholesalers and
retailers are termed as ________.
A) trade allowances
B) point-of-purchase displays
C) product placement
D) conversation marketing
E) premiums
Compare and contrast discrimination and affirmative action.
Describe the qualities of a successful entrepreneur. How is an intrapreneur different
from an entrepreneur? What are the unique challenges faced by an intrapreneur?
What is a bubble?
How do teams differ from work groups?
What are national brands, private brands, and generic products?