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____d 1. Allen and Erika put together a group of 12 people and had the group evaluate several promotional campaigns. Allen and Erika collected data from
a(n) ____.
a. Survey
b. secondary source
c. observational source
d. focus group

_c___ 2. Which of the following layouts would be appropriate for manufacturers of bulky, large, heavy, or fragile products?
a. Customer-oriented layout
b. Process layout
c. Fixed-position layout
d. Product layout

__b__3.Why have some companies set up assembly plants in China?


a. Nearness to raw materials
b. Low labor rates
c. The available water supply
d. The availability of inexpensive energy

___d_ 4. Pure Products is introducing a new paper coffee filter that can be washed and reused ten times. Pure Products expects that competitors will come
out with similar products within a short period of time. Which pricing strategy will enable Pure Products to discourage competitors?
a. Penetration pricing
b. Psychological pricing
c. Skimming pricing
d. Cost-based pricing
____d 5. Which of the following would probably be the most important consideration in determining where to locate a petroleum refinery?
a. Location of customers
b. Physical characteristics
c. Labor supply
d. Proximity to raw materials

___c 6. Gary is a research specialist in the Marketing Division at Big-Mart. Currently, he is working on a project that involves searching through customer
files to detect spending patterns or trends that Big-Mart could target to increase sales. Gary is ____.
a. doing environmental scanning
b. segmenting and correlating the data files
c. data mining
d. developing a value-added database
c 7. QT Jewelry Company has 43 stores located along the East Coast of the United States. QT's product mix and marketing strategies focus on target
markets for urban, suburban, and rural markets. QT Jewelry uses ____.
a. geographic segmentation
b. lifestyle segmentation
c. demographic segmentation
d. psychographic segmentation

____a 8. Susan left her management job with a large company to start her own business because, in her words, "They wanted work and family separated,
but I wanted them integrated." Susan started her own business ____.
a. to become her own boss
b. to create something new
c. to improve her quality of life
d. to have job security

___a_ 9. Dell Computer founder Michael Dell and Microsoft co-founder Bill Gates are two well-known examples of ____.
a. intrapreneurs
b. change agents
c. atypical entrepreneurs
d. classic entrepreneurs

__d__10. Paterno routinely bids on contracts even though most of the other bidders are extremely large firms. Paterno believes that his company offers
better service at lower prices. He is exhibiting which personality trait common in entrepreneurs?
a. Tolerance for failure
b. Vision
c. High-energy level
d. Self-confidence

____c11. Eli believes that he controls his own fate and is willing to take personal responsibility regardless of whether he succeeds or fails. Eli has ____.
a. vision
b. tolerance for ambiguity
c. an internal locus of control
d. a need to achieve

___b_12. Tron goes online to compare hotel room rates for a planned vacation to Cancun. Which Internet function is she using?
a. Communication
b. Information gathering
c. Entertainment
d. E-commerce

__b__ 13. Which of the following statements would you LEAST expect to hear from an entrepreneur?
a. "I love being my own boss."
b. "I enjoy a higher quality of life."
c. "I'll never get wealthy working for someone else."
d. "I love working fewer hours."

____a 14. If you are considering starting your own business, what should you do first?
a. Learn the basics of business.
b. Recognize your limitations.
c. Write up a business plan.
d. Apply for a Small Business Administration (SBA) loan.

____d15. Katerina is a successful entrepreneur. She keeps close to her customers and constantly looks for strategies that she believes will work. Katerina is
also willing to make adjustments when necessary. She is demonstrating ____.
a. an internal locus of control
b. creativity
c. vision
d. tolerance for ambiguity

__b__16. Google is BEST described as a ____.


a. Web site
b. search engine
c. portal
d. commercial site

_b___17. Which demographic/economic trend has increased opportunities for entrepreneurs?


a. An aging population
b. A surplus of college graduates
c. Slow growth in personal income
d. Higher taxes

_a___18. Which of the following is credited with much of the increase in U.S. productivity?

a. Technology
b. Lower wages
c. More exports
d. More imports

___b___19.Serena's boss tells her, in confidence, that Jade will be laid off when the company announces a round of job cuts next week. Afterwards, Jade asks
Serena if there is any truth to the rumor of impending job cuts and if she knows anything about her status. What is Serena's ethical challenge?

a. Conflict of interest
b. Loyalty versus truth
c. Honesty versus integrity
d. Serena faces no ethical challenge

___c_20. Which of the following statements about demand curves is true?

a. When the price rises, demand increases.


b. When the price falls, demand decreases.
c. When the price falls, demand increases.
d. When the price falls, supply increases.

_d___21. Most countries have ____.

a. planned economies
b. private enterprise systems
c. mixed economies
d. capitalist systems

__c__22. For years, China had an absolute monopoly in the production of ____.

a. rice
b. tea
c. silk
d. clothing

___c___23. Senior management tends to spend most of its time on ____ plans.

a. tactical
b. adaptive
c. strategic
d. operational

__c__24. Luis is CEO of a new company that makes handheld computers. He is trying to decide between using the Windows Pocket PC operating system
and the Palm operating system. He is ____.
a. creating a vision
b. developing a mission statement
c. making a nonprogrammed decision
d. making a programmed decision

_c___25. The best leadership style to use ____.


a is democratic
b. is autocratic
c. depends on the corporate culture
d. is free-rein

___a_ 26. Beatrice is trying to resolve a labor dispute. She meets with both sides, makes a number of recommendations, and suggests a compromise.
Beatrice is acting as a(n) ____ and ____ force a settlement.
a. mediator; cannot
b. mediator; can
c. arbitrator; cannot
d. arbitrator; can

___d_ 27. Robert's company recently contracted with another company to provide technical and computer support. This is an example of ____.
a. downsizing
b. outsourcing
c. employee empowerment
d. restructuring the organization

___b_ 28. Hélène, an industrial sales representative, bought a cellular telephone to use if she ever had car trouble while traveling between appointments.
Which level of Maslow's need hierarchy is she addressing?
a. Physiological
b. Safety
c. Esteem
d. Self-actualization

__a__29. Gloria, a supervisor of data entry clerks, uses a time clock to document the attendance of her employees. Gloria believes that without the
monitoring system, the employees' attendance records would decline rapidly. Gloria's assumption about worker behavior is based on ____.
a. Theory X
b. Maslow's hierarchy of needs
c. Theory Y
d. management by objectives (MBO)

__a__ 30. The team leader's most important contribution to conflict resolution typically consists of ____.
a. effective communication skills
b. leadership skills
c. motivation skills
d. compromising skills

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_false___ 31. Marketing is basically just selling.

__true__ 32. An important use of robots is to free humans from potentially dangerous assignments such as handling hazardous materials.

___true_ 33. When a store is open 24/7, it is creating time utility.

__false__ 34. People should not attempt to convert their hobbies into a business, since something that makes a person happy rarely turns into a
successful business.

___false_ 35. It is not important that a Web site be updated on a regular basis.

__true__ 36. One of the main advantages of buying a franchise is name recognition.

_true___ 37. A small business is simply a small version of a larger corporation.

_false___ 38. Entrepreneurs aren't generally very creative people, just hard working and focused on specific problems.

_false___ 39. Innovation is a major small business advantage.

__false__ 40. The franchising concept eliminates risk for a new entrepreneur.

__false__ 41. Environmental issues are becoming less important concerns of the public.

__true__ 42. In developed economies like that of the U.S., most new jobs require college degrees and/or advanced technical training.

__false__ 43. One of the 21st century's major economic challenges is dealing with a surplus of workers.

___True_ 44. The first step in going global is deciding which foreign markets to enter.

___false_ 45. Planning tends to progress from the specific to the general.
__false__ 46. SWOT an acronym for strengths, weaknesses, options, and time.

___true_ 47. Learning the best practices of the best companies is referred to as benchmarking.

___true_ 48. Increased numbers of employee grievances is evidence of poor morale in a company.

___false_ 49. Effective teams almost always have more than 15 members.

_false___ 50. When conducting an oral business conversation, Americans tend to stand closer together than Latin Americans do.

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51. List 5 characteristics of an entrepreneur. Which is the most important and why?
a Vision
a Need to achieve
a Creativity
a Tolerance for failure
a Self confidence
I think creativity is the drive that helps motivate us, to conquer our goals, in anything we do. Life is artistic and we paint the picture.

52. List three trends in the business being faced by companies that will challenge managing and developing the new workforce.
a Aging of the population,
a the changing nature of work
a new employer-employee relationships.

53. Name the four consumer rights and give an example of each one.

a Rights to be heard (comments on products and service)Ebay fraudulent sellers you leave feedback or complaints about
purchases made. The customer is always right policy.
a Right to choose -The rights to select and reject goods and services
a Right to be safe( safe or reliable products and no recalls) the sticky car pedal problem that caused deaths and salmonella
poisoning
a Right to be informed (no false advertising and notified about recalls)-FDA requires that you describe potential side effects of
any medicine or any health hazard.

54. List and describe the five stages of team development in the order in which they typically occur. Which stage is the most difficult for
teams to get passed?
a Forming, orientation breaking the ice
a Storming, conflict and disagreements
a Norming, establishment of order
a Performing cooperation and problem solving
a Adjorning task completion
The storming stage because different personalities arise to figure out different roles within the group.
55. List and define the five styles of conflict resolution.
a Oral- meetings and speeches
a Written- memos, emails and letters
a Formal- External; press conferences and News releases
a Informal ± rumors spread amongst employees
a Verbal- voicemail or telephone calls

56. List 5 responsibilities of human resource management. Why are they known as the ³heart of the company´?

a Planning for staffing needs


a Recruitment and selection
a Training and evaluating performance
a Compensation and benefits
a Employee separation.
Because they are the ones that retain enough qualified employees to perform the activities necessary to accomplish organizational
objectives.


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