When a person happens to be at the right place at the right time resulting in a successful
business idea, which of the following would be considered to be the factor that led to
the business idea?
A. Family and friends
B. Education and expertise
C. Serendipity
D. Personal interest
A _____ is a legal agreement that grants the rights to use a particular piece of
intellectual property.
A. codicil
B. franchise
C. writ
D. license
According to the SCAMPER tool, a feature that allows customers to order directly from
a Web site rather than visiting a store is an example of:
A. elimination.
B. adaptation.
C. magnification.
D. substitution.
Which of the following is true about topic sentences?
A. The most common paragraph arrangement begins with the topic sentence.
B. The most common paragraph arrangement ends with the topic sentence.
C. The most common paragraph arrangement has the topic sentence within the
paragraph.
D. The topic sentence supplies the story for the paragraph.
E. The topic sentences build around and support the main sentence.
The product/service component of the feasibility study typically includes which of the
following aspects?
A. Stage of development
B. Competition
C. Market penetration
D. Cost forecast
To write economically, you should:
A. use passive voice instead active voice.
B. avoid active verbs.
C. use see-saw sentences.
D. use cluttering phrases.
E. eliminate surplus words.
The five elements in the management process are
A) plan, direct, update, lead, and supervise
B) accounting, finance, marketing, operations, and management
C) organize, plan, control, staff, and manage
D) plan, organize, staff, lead, and control
E) plan, lead, organize, manage, and control
Among the ethical and social challenges facing operations managers are
A) honoring financial commitments
B) maintaining a sustainable environment
C) developing low-cost products
D) providing an efficient workplace
E) all of the above
The business idea component of the feasibility study includes which of the following
aspects?
A. Stage of development
B. Competition
C. Market penetration
D. Description of the entrepreneurs
Adam owns a software development company. He and his team developed and licensed
new software that could help many organizations strengthen their Web security. Any
organization that wishes to use Adams licensed software would most likely have to pay
him in the form of a(n) _____.
A. pay-off
B. royalty
C. lump sum payment
D. payout
The total of all outputs produced by the transformation process divided by the total of
the inputs is
A) utilization
B) greater in manufacturing than in services
C) defined only for manufacturing firms
D) multifactor productivity
E) none of the above
Which of the following transitional words will most efficiently increase the
cohesiveness of the given information? The book is very interesting. It provides
detailed descriptions of the buildings.
A. Moreover
B. Instead
C. Therefore
D. On the other hand
E. However
Which of the following is not one of the Ten Critical Decisions of Operations
Management?
A) location strategy
B) human resources and job design
C) managing quality
D) design of goods and services
E) determining the financial leverage position
Emily likes travelling, but every time she checks for tickets and a decent hotel, she gets
overwhelmed with the amount of information she gets. She wants people to have a
hassle-free travel experience. As a result, she starts a small business that filters
information based on peoples requirements and provides them with just the right
amount of information they need about the place they are travelling to, the best
available hotel, and the cheapest air fares. Which of the following is most likely to be
the source of Emilys business idea?
A. A chance happening
B. A personal interest
C. A similar business
D. An expertise
Which of the following statements is true?
A) Manufacturing now constitutes the largest economic sector in postindustrial societies
B) The number of people employed in manufacturing has increased since 1950
C) Each manufacturing employee now produces about 20 times more than in 1950
D) All of the above are true.
E) None of the above is true.
Which of the following is the idea trigger for the magnify cue of the SCAMPER tool?
A. The opportunities that come as a result of replacing things that already exist
B. The separate products, services, or whole businesses that can be put together to
create another distinct business
C. The products or services that can be imitated from other industries or fields
D. The factor that can be used to make a product different from that of competitors
products
The idea trigger for the modify or magnify cue is how entrepreneurs can make their
products or services more noticeable or dramatic, or different in some way from their
competitors? It need not be in the product itself, but it could be the way the
entrepreneurs advertise or treat the customer during the transaction that becomes
memorable.
The goal of a feasibility study is:
A. to create additional value for customers through great products or services.
B. to create outlets for employees to bring out new ideas.
C. to assess if a business idea can be profitably brought to market.
D. to assess how well a preliminary run of a business works and what problems it might
have.
The SCAMPER tool is based on the work of:
A. David McClelland.
B. Abraham Maslow.
C. Alex Osborne.
D. Frederick Herzberg.
The SCAMPER tool is based on the work of Alex Osborne.
In the SCAMPER tool, “R” stands for:
A. restitution.
B. resolution.
C. reverse.
D. result.
In the SCAMPER tool, “R” stands for reverse or rearrange.
Which of the following sentences is an example of incomplete construction?
A. As far as time management, he is a master of multitasking.
B. Majority of the jury voted against the defendant.
C. A number of students were absent for the test.
D. The committee is meeting today to decide on salary hike for the employees.
E. Neither of them likes to cook.
Henry Ford and __________ are credited with the development of the moving assembly
line.
Describe the SCAMPER tool. How does it help entrepreneurs identify new
opportunities?
How can a small business owner get into an innovative frame of mind? Explain.
Why are organizations becoming more global?
Martin Manufacturing has implemented several programs to improve its productivity.
They have asked you to evaluate the firms productivity by comparing this years
performance with last years. The following data are available:
Has Martin Manufacturing improved its productivity during the past year?
