________ refers to measuring quality against established standards after the good or
service has been produced and weeding out any defective products.
A) Statistical process control
B) Quality assurance
C) Quality control
D) Continuous quality
E) Total quality management
The term compensating balance refers to the portion of an unsecured loan that
________.
A) is kept on deposit at a lending institution
B) has already been paid by the borrower
C) has not been paid by the borrower
D) is charged by the lender as interest
E) is not supported by any collateral securities
Labor unions place a high priority on ________.
A) increasing organizational productivity
B) engaging in disciplining procedures
C) recruiting and retaining members
D) keeping operational costs low
E) attaining operational flexibility in the organization
John did not promote Cynthia because he thought that a woman could not supervise
male construction crews in his company. Given that Cynthia had the necessary
experience and credentials, John may have been guilty of ________.
A) narcissism
B) collective bargaining
C) nepotism
D) sexism
E) ethnocentrism
________ skills are required to understand others and to interact effectively with them.
A) Technical
B) Decisional
C) Conceptual
D) Administrative
E) Interpersonal
Institutional advertisements that present a company’s point of view on public issues
such as education or health care are known as ________ advertising.
A) product
B) comparative
C) cooperative
D) advocacy
E) consultative
A company that is incorporated in one state (frequently the state of Delaware, where
incorporation laws are more lenient) but that does business in several other states where
it is registered is called a(n) ________.
A) foreign corporation
B) domestic corporation
C) global corporation
D) alien corporation
E) international corporation
Which of the following statements is TRUE regarding the job characteristics model?
A) According to the job characteristics model, the narrower the range of skills required,
the more meaningful the work is likely to be to the employee.
B) According to the job characteristics model, lower task identity contributes to the
sense of meaning in work.
C) According to the job characteristics model, autonomy is one of the three critical
psychological states that determine motivation, performance, and other outcomes.
D) According to the job characteristics model, employees with little growth needs
respond most dramatically to improvements in job dimensions.
E) According to the job characteristics model, experienced meaningfulness of the work
is a measure of how much employees care about the jobs they are doing.
Which of the following ethical approaches emphasizes desirable character traits such as
integrity and compassion?
A) utilitarianism
B) Kantian ethics
C) deontological ethics
D) affirmative action
E) virtue
A/an ________ is a framework of how a business intends to generate revenue.
A) business model
B) strategic management tool
C) profitability analysis
D) competitive advantage
E) entrepreneurial mindset
National unions ________.
A) do not have the power to negotiate with individual companies
B) are composed of many local unions
C) are not bounded by geographical restrictions
D) do not undertake their own membership activities
E) are open to members who have a specific set of skills
Which of the following statements is TRUE of employee grievance?
A) Labor unions cannot file grievances on employees’ behalf.
B) Only profound complaints can be filed as grievances.
C) Employee grievances are informal in nature.
D) Grievance procedures are not followed by escalations.
E) Most collective bargaining agreements specify procedures for filing grievances.
EBL is a financial institution headquartered in Rochester, New York. Membership in
EBL is open to residents of Rochester and is financed by the members themselves. EBL
accepts deposits from its members and provides loans to its members. EBL provides a
low-cost finance option to the residents of Rochester. EBL is a ________.
A) loan association
B) retail bank
C) credit union
D) thrift bank
E) merchant bank
________ refers to assigning a wide range of generalized (and often superficial or even
false) attributes to an individual based on his or her membership in a particular culture
or social group.
A) Ethnocentrism
B) Stereotyping
C) Protectionism
D) Discerning
E) Culture shock
According to the National Labor Relations Board (NLRB), which one of the following
would not be an unfair labor practice on the part of unions?
A) attempting to scare employees into supporting the union
B) discriminating against employees because of race or union activities
C) refusing to process grievance claims made by employees who’ve criticized union
officials
D) striking over matters that aren’t related to working conditions or terms of
employment
E) threatening employees with cuts in benefits if they engage in any activity protected
by the Wagner Act
Which of the following is a major difference between debt financing and equity
financing?
A) Equity financing has a specific maturity period, whereas debt financing usually has
no specific maturity period.
B) Debt financing is not linked to organizational performance, unlike equity financing.
C) Equity holders have primary claims on assets unlike debt financiers.
D) Payments to equity holders reduce taxable income, whereas debt payments are not
tax deductible.
E) Debt financing is used to cover long-term expenses, whereas equity financing is used
for current expenses.
Which of the following is TRUE regarding the justice approach to ethics?
A) It refers to treating people equally, or at least fairly, in a way that makes rational and
moral sense.
B) It refers to choosing the option that delivers the most good for the most people.
C) It involves making social contributions that are directly aligned with a company’s
overall business strategy.
D) It emphasizes qualities and conditions that benefit the community as a whole, such
as peace and public safety.
E) It refers to the movement that pressures businesses to consider consumer needs and
interests.
Carton Life is an insurance firm. The firm wants to enter an Asian country that recently
removed protectionist barriers in the insurance industry. The company wants to enter
the country with the help of a local firm. However, the company does not want to
permanently integrate with another firm. Which of the following arrangements is most
suited for this company?
A) amalgamation
B) acquisition
C) merger
D) joint venture
E) strategic alliance
Which of the following statements is TRUE about terminating employees?
A) Employers have legal rights to fire employees for whistle-blowing.
B) The Age Discrimination in Employment Act requires dismissal of an employee who
reaches a certain age.
C) Worker buyouts are usually undertaken to stop employees from voluntarily
departing.
D) Rightsizing usually involves downsizing the workforce.
E) Layoffs refer to firing employees because of violation of company policies.
Choose an operational unit of your business (for example, the marketing department in
a firm) and construct an operating budget for the unit. Make necessary assumptions and
list all the assumptions that you are making.
Explain the benefits of unionization.
Compare and contrast department stores with specialty stores.
What is a barrier to entry? Explain with an example.
Explain the concept of risk/return trade-off.