When evaluating a decision based on the ethical norm of utility, a manager will
consider which of the following questions?
Is the decision consistent with what we regard as fair?
Does the decision respect the rights of the individuals involved?
Is the decision consistent with people’s responsibility to each other?
Does the decision optimize the benefits for those who are affected by it?
Using ________, companies like Fairmont Resort Hotels are able to find out what
kinds of vacations their customers prefer, and then place ads where they are more likely
to reach those customers.
value package positioning
positioning
data mining
distribution
Gretta is observing and interviewing several database administrators to determine the
duties and responsibilities associated with their job as well as the as the knowledge,
skills, and abilities that someone must have to perform the job. Gretta is performing the
HR function of ________.
staffing
promotion
job analysis
training
Betty’s Breads is trying to calculate their breakeven point. Their monthly fixed costs
are $5,000. The cost of making one loaf of bread, considering labor and materials, is
$3.50. At a sales price of $6 per loaf, their breakeven point would be ________
loaves of bread.
60
200
800
250
Which of the following statements regarding HR planning is true?
HR planning involves job analysis.
HR planning involves forecasting the demand for labor.
HR planning involves forecasting the supply of labor.
All of the above are true.
Enron employee Sherron Watkins was a(n) ________, reporting concerns about the
company’s accounting practices.
whistle-blower
informant
auditor
ombudsman
Money motivates employees only if it is tied directly to ________.
human relations skills
plan development
performance
hours worked
A highly successful bakery specializes in making cherry tarts. The bakery workers are
paid by the number of tarts they make and that sold. Which of the following costs at the
bakery is NOT variable?
cherries
rental fee on bakery’s building
flour for tarts
all of these
The most highly visible component of the marketing mix is ________.
promotion
price
place
product
Kent wants to motivate the maintenance staff to be more productive. He starts by
providing training and assures employees that high productivity will rewarded.
Employees are asked to assures employees that high productivity will be rewarded.
Employees are asked to identify the rewards that would mean the most to them. Kent
likely subscribes to the ________ theory of motivation.
equity
expectancy
two-factor
hierarchy of needs
Hi-Fly, Inc. was accused of flushing residue from its production processes into a nearby
pond on the company’s premises. “We own the pond,” the owner responded. Which of
the following approaches is being taken?
obstructionist
accommodative
defensive
proactive
A firm introduces a totally new product. Knowing that it must bring in revenues to
cover the costs of developing and promoting this new product, the firm decides to sell
the product at a vary high price. This practice is referred to as ________.
penetration pricing
introductory pricing
price skimming
price lining
________ are industrial engineering techniques applied to each facet of a job in order
to determine how to perform it most efficiently.
Human relations
Job analyses
Inducement exercises
Time-and-motion studies
“Speed to market” is ________.
a firms success in responding to customer demand or market changes
truck and rail speed that gets products to the retailer fresh
consumer urgency created by effective advertising
being able to open a market early in the morning
Which of the following statements is true regarding teams in the workplace?
Teams are most effective with narrow activities, such as deciding when to take breaks.
Teams work well in virtually all work settings.
Teams are more effective in rigid, bureaucratic organizations.
Team management is often used to enhance employee motivation.
Which of the following tend to increase satisfaction in jobs lacking in motivating
factors?
MBO and empowerment
job enrichment and job redesign
MBO and job enrichment
Empowerment and job redesign
The most effective step that a company can take to promote ethical behavior is to
________.
conduct frequent comprehensive audits of all financial information
have employees sign a code of conduct upon hiring
demonstrate top management support of ethical standards
publicize efforts to become more ethical
If a firm’s goal is to place a new product into the hands of as many consumers as
possible quickly, then its best pricing strategy would be ________.
penetration pricing
what the traffic will bear
snob appeal
price skimming
According to the classical theory of motivation, workers are motivated ________.
recognition
better working conditions
money
attention from management
Accessing a Web site in search of magazine articles about a product before its purchase
is an example of what part of the consumer buying process?
post-purchase evaluation
evaluation of alternatives
information seeking
purchasing the product
Sexual harassment is a form of employer or management behavior that falls under the
category of ________.
comparable worth
OSHA
employment discrimination
workforce diversity
Which statement is true?
Target marketing requires market segmentation.
Production positioning includes the process of fixing, adapting, and communicating
the nature of the product.
After identifying segments, companies may adopt a variety of strategies.
All of these statements ate true.
Which statement about consumer buying behavior is true?
Buyer-seller relationships tend to be more impersonal and short-lived in the
industrial market.
Buyers in the consumer market are considered as well-informed as industrial
buyers.
The buying process begins when consumers seek information.
None of these statements is true.
________ attempts to build good relations with the public or to deal with unfavorable
events.
Publicity
Personal selling
Advertising
Public relations
When evaluating a decision based on the ethical norm of justice, a manager will
consider which of the following questions?
Is the decision consistent with what we regard as fair?
Does the decision respect the rights of the individuals involved?
Is the decision consistent with people’s responsibilities to each other?
Does the decision optimize the benefits for those who are affected by it?
Which of the following does a manager do when planning?
selects goals
chooses actions to attain the goals
allocates responsibility for implementing actions
A manager doer all of the above when planning.
The plan that logistics personnel has to reduce inventory in its division by 20 percent
with the closing of two existing warehouses is called a(n);
unit plan.
operating plan.
operating strategy.
business-level plan
For most business firms superior performance most likely means:
giving back to the community.
providing flexible customer services.
having effective government relationships.
generating high profits and increasing profits over time.
Alpha products produces widgets in China, though the firm is based in the U.S.
Engineers from the home office traveled to China to discuss production options with
the Chinese. The Chinese had several suggestions stemming from their continued
practice in producing the widgets for Alpha. The U.S. engineers then brought back the
Chinese ideas to the home office and plan to incorporate them in the production process
to be used in a new plant opening in Mexico. This is an example of:
diversification
global learning.
scope economies
superior internal governance.
Which of the following is the likely outcome of managing operations efficiently and
effectively?
Costs will go up.
Products will become more similar.
The company will likely reach the efficiency frontier industry.
The company will be unlikely to reach the efficiency frontier in their industry.
Close to 80 biodiesel fuel manufacturing plants are in production today. The production
system continuously produces a standardized output of about 30 million gallons a year
of fuel and operates around the clock. The production system in use here is a :
job shop system.
small batch system.
assembly-line system.
continuous flow system.
The two facets of accounting are ________ and ________ .
Debits and credits
Management and financial
Financial and credit
Manufacturing and financial
Systematically spreading the cost of a tangible asset over its estimated useful life is
called ________.
Appreciation
Capitalization
Depreciation
Amortization
A company that quickly collects payments from customers will have ________.
A good cash flow
A poor cash flow
High assets
Low assets
Cost of capital depends on three main factors: risk, prevailing interest rates, and
________.
Managers’ selection of funding vehicles
Term of financing
Debt financing
Managers’ ability to control spending
NAFTA has resulted in the ________.
Increase of imports in Mexico
Increase of exports in Canada.
Decrease of exports in Mexico.
Increase of exports in Mexico.
A business system has a set of elements and processes that converts ______
Inputs to outputs
Outputs to inputs
Lookers to buyers
Money to products
Overseeing all activities involved in producing goods and services is ________.
Facilities management
Logistics
Operations management
Operations planning
Typical production systems have the following steps:
Input-Output
Input-Input-Output
Output-transformation-input
Input-transformation-Output
One way to ensure the entire system works efficiently is to ______.
Make the work day longer.
Trust workers with small goals they can easily reach.
Keep the goal from people.
Show people their contributions to the goal.
If you have common stock. You have voting rights and ______.
The first claim to distributed profits.
No claim to distributed profits.
Last claim to distributed profits
None of the above
A long-term partnership between companies to jointly develop, produce, and sell
products is a/n ________.
Joint venture
Conglomerate
Strategic alliance
industrial alliance
A separate legal entity established by strategic partners is a/an ________.
Joint venture
Conglomerate
Strategic alliance
Coalition
With an increasing elderly population, the demand for prescription drugs has gone up
exponentially. This phenomenon is taking place in the ________ environment of
business.
economic
industry
social
global
In order to design new products or improve existing products, firms invest in ________.
target marketing
market segmentation
research and development
commercialization of products
All of the following are steps typically to create a new product except ________.
post-audit the product
production control
design and test the product
assess the feasibility of a product idea
The phase in the product life cycle in which sales level off because of competition is
the ________ phase.
maturity
introduction
growth
decline
________ is a process of monitoring and improving the quality of products and
services on a continuous basis.
Quality control
Production team analysis
Product improvement
Total Quality Management
Which of the following is not stated in the text as an advantage of using information
technology in business?
Decrease in costs to produce products
Provide alternative methods for reaching customers
Companies can offer broader product lines to customers
Improved communications between the firm and the customer
Firms use information systems to ________.
make better business decisions
develop a competitive disadvantage
motivate the firm’s stakeholders
minimize the interaction among business functions
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