Professional Documents
Culture Documents
Question 2
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Started on Wednesday, 2 October 2019, 1:45 PM When we think of successful music entertainment groups of the past 60 years, the Beatles almost always appear in the top 5! In the
early days, the entertainment group's life cycle could have ended as so many other rock groups do—here today, gone tomorrow. The
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four musicians were de nitely creative and passionate about their craft and genre of music. As the informal leader of the group, John
Completed on Wednesday, 2 October 2019, 2:43 PM Lennon _____________ the others to make important compositional contributions. All four members had the opportunity to create
Time taken 58 mins 11 secs musical compositions and receive copyright credit for their contributions.
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Grade 78.00 out of 100.00 Select one:
a. commanded
Question 1
b. transformed
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c. enabled
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d. empowered
The correct answer is: overwhelming time commitment often required of the owner.
Question 3 Question 4
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One reason franchises have become so popular is that this arrangement provides the franchisee with: Leanne owns a nursery. The trucks, handcarts, and forklift she purchased for the business are called __________ investments.
The correct answer is: a nationally recognized name and product. The correct answer is: capital
Question 5 Question 6
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In a company in which an e ective vision has been provided: Which of the following predictions about the impact of e-commerce on traditional businesses is likely to be most accurate?
The correct answer is: employees are likely to have a sense of purpose and a common set of values.
The correct answer is: Traditional brick-and-mortar rms will enter the e-commerce market by creating their own websites.
Question 7 Question 8
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A meaningful mission statement should address topics such as the organization's: ____________ skills include the ability to perform tasks of a speci c department or job, such as selling (marketing) or bookkeeping
(accounting).
Select one:
a. tactical plans and contingency plans. Select one:
a. Departmental
b. self-concept and company philosophy.
b. Conceptual
c. form of ownership and methods of nancing.
c. Tactical
d. advertising strategy and distribution plan.
d. Technical
Question 9 Question 10
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Managers who listen to their subordinates and allow them to participate in decision making are using the ____________ style of Fairview Community College is a multi-district college with four campuses. Each campus has one president, two vice presidents, ve
leadership. deans, 12 department chairs, over 100 faculty members, and several persons in support roles. The presidents from each campus report
to four vice chancellors and the vice chancellors report to the chancellor. It is clear that Fairview has a well-de ned ___________.
Select one:
a. free-rein Select one:
a. bureaucratic reallocation
b. autocratic
b. chain of command
c. participative
c. channel of academic culture
d. bureaucratic
d. responsibility environment
Question 11 Question 12
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Which of the following is an advantage of a partnership? One disadvantage of _________ is the initial cost of formation.
The correct answer is: Shared management and pooled skills The correct answer is: corporations
Question 13 Question 14
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The resources that contribute to the creation of wealth are known as ______. Midas Mu er sells franchises to prospective businesspersons who want to use the Midas name and o er Midas products. In a
franchise arrangement, Midas would be the ________, and the buyer of the franchise is the ________.
Select one:
a. factors of production Select one:
a. owner; limited partner
b. production coe cients
b. franchisor; franchisee
c. production aggregates
c. franchisee; franchisor
d. production technologies
d. co-signer; co-signee
Question 15 Question 16
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Trevor and Tyler own all the stock in the Double T Corporation. The stock of this corporation is not sold to the general public. Trevor and Within its production department, Sooner Manufacturing has shift leaders, supervisors, assistant plant managers, plant managers,
Tyler own a: product group managers, assistant division managers, division managers, an assistant vice president for production, and a vice
president in charge of production. Given its multiple-layer management structure, Sooner Manufacturing is an example of a
Select one: ____________ organization.
a. alien corporation.
Select one:
b. master limited partnership.
a. decentralized
c. limited liability company.
b. cross-functional
d. closed corporation.
c. tall
d. wide
Question 17 Question 18
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One of the most di cult management challenges today is managing change. This is because: Maria recently purchased 100 shares of stock in Idle Time Gaming, Inc. Maria is a ______________ of this company.
Question 19 Question 20
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Which of the following best describes the main di erence between B2B and B2C transactions? B2B transactions: In the boxed material "Making Ethical Decisions," the textbook describes corruption practices in developing nations. These practices
include payo s to government o cials in order to get an edge on competing better in one's industry. Which of the following statements
Select one: best describes the ethical message explained in this box?
a. refer to business between nonpro t organizations while B2C e-commerce is carried out by business rms seeking to earn a
pro t. Select one:
a. Campaign contributions are not considered bribes, particularly if everyone in your industry is doing the same.
b. involve transactions where the buyers and sellers are both businesses, while B2C involves transactions between businesses and
consumers. b. Ethics plays an important role in a capitalistic system and in the freedom to compete. Corruption can hinder economic growth.
c. focus on nancial transactions while B2C e-commerce focuses on the sale of manufactured goods. c. Bribery is acceptable if everyone is doing it. As a businessperson, you have to nd the right balance in whatever nation you want
to sell your products.
d. involve sales in foreign markets while B2C e-commerce is restricted to domestic markets.
d. Bribery is commonplace and necessary in socialistic nations.
The correct answer is: involve transactions where the buyers and sellers are both businesses, while B2C involves transactions between
businesses and consumers. The correct answer is: Ethics plays an important role in a capitalistic system and in the freedom to compete. Corruption can hinder
economic growth.
Question 21 Question 22
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___________ studies the operation of a nation's economy as a whole. Fayol's ____________ principle says that tasks should be divided into areas of specialization.
The correct answer is: Macroeconomics The correct answer is: division of labor
Question 23 Question 24
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The most important di erence between for-pro t businesses and nonpro t organizations is that: As a manager of a retail-clothing store, Lance favors detailed job descriptions, formal rules and regulations, detailed records, and
standardized procedures. He also believes that sta ng and promotion decisions should be based strictly on the quali cations of the
Select one: people under consideration. Lance's attitudes suggest that he is strongly in uenced by the ideas of:
a. nonpro t organizations seek to make a pro t for their owners and organizers.
Select one:
b. businesses do not bene t society.
a. Max Weber.
c. nonpro t organizations do not seek a pro t for their owners or organizers.
b. Adam Smith.
d. nonpro t organizations do not le tax returns.
c. Ralph Nader.
d. Karl Marx.
The correct answer is: nonpro t organizations do not seek a pro t for their owners or organizers.
Question 25 Question 26
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At the onset of the recent economic slowdown, prices at the grocery stores continued to rise. In some cases, products such as milk and Communism is an economic system in which:
bread almost doubled in price. A Boston newspaper reported, "The price of eggs was up 40% and milk was up 26%." Consumers were
already being hit with high energy costs, and now their con dence in the economy was further shaken with job cuts and a loss of Select one:
discretionary income due to increases in food prices. The economy was slowing, but prices were rising, signifying the potential for a. the government makes almost all of the major economic decisions.
_________.
b. individual consumers make all economic decisions.
Select one: c. the government and private citizens own equal shares of the economic resources.
a. equalization d. almost all of the productive resources are owned by private businesses.
b. stag ation
c. disin ation
The correct answer is: the government makes almost all of the major economic decisions.
d. de ation
Question 27 Question 28
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Entrepreneurs weigh the di erences between the bene ts of starting a business and those things that they are likely to forego because There is evidence that the recession is coming to an end for Intelligent Engine Company. New orders are coming in at a steady pace,
they choose to work for themselves. Such things they are likely to pass up on are: and management is con dent that new contracts will take them through the next couple of years. The company has started investing
again, but not in people. Employees total the same as when the company and its competitors faced their lowest revenues of the
Select one: decade. Due to _________________, the company is producing more product and services with less people.
a. tickets to sporting events that trading partners may provide.
Select one:
b. the freedom to make their own decisions.
a. technological advancement
c. local government bene ts such as enterprise zone tax credits.
b. new competition
d. employer paid bene ts such as paid vacation and health insurance.
c. social changes
d. the lack of skilled labor
The correct answer is: employer paid bene ts such as paid vacation and health insurance.
Question 29 Question 30
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___________ means producing items using the least amount of resources. Barclay developed two interactive computer games. He didn't do it entirely alone. Last year he started a small company, and hired two
programmers and a marketing graduate. He considers himself a cutting-edge kind of guy and wants to position his company the same
Select one: way. He has solicited your advice as to how he should structure his organization as he moves forward, and you suggest that he hire a
a. E ciency few potential customers to join his team of employees as product testers. And, you suggest, maybe he should solicit globally. You are
suggesting to Barclay that he put together a _________.
b. Productivity
c. E-production Select one:
Question 31 Question 32
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Which of the following statements about capitalism is the most accurate? _____________ means giving employees the authority and responsibility to respond quickly to customer requests.
The correct answer is: Capitalism is characterized by unequal distribution of wealth and income. The correct answer is: Empowerment
Question 33 Question 34
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The revolution in management that is currently under way suggests that the most e ective managers of the future will: Management is more progressive today. There is more emphasis on:
The correct answer is: emphasize teamwork. The correct answer is: working in teams.
Question 35 Question 36
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Campbell is a middle manager for a bureaucratic organization. According to Max Weber's views on bureaucratic organizations, Andrew's company is a bureaucratic organization. Andrew is likely to encounter which of the following conditions?
Campbell's function within the organization is to:
Select one:
Select one: a. Cross-functional teams
a. implement the decisions of top management.
b. Empowerment of rst-line employees to better serve customers
b. ensure the organization achieves esprit de corps.
c. Many layers of management
c. make key operating decisions.
d. Real time decisions
d. evaluate the daily performance of rst-line employees.
Question 37 Question 38
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The _________ is a statistic used to compute the pace of in ation or de ation. One advantage of a database is:
Question 39 Question 40
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The study of how to increase the amount of available resources and create conditions that will make better use of these resources is Thomas Malthus was pessimistic about the ability of a society to achieve high standards of living for most of its citizens because he
known as: believed that:
Question 41 Question 42
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The rst step in developing a knowledge management system is to: Julio is the owner of Celebration, Inc., a small party supply company. The company provides tents, tables, chairs, and related
paraphernalia for wedding, Bar Mitzvah, Bat Mitzvah, graduation, birthday, and other celebratory events. As sales have increased, the
Select one: organization has hired more personnel and departmentalized to more e ciently handle purchasing, sales, service, and accounting.
a. recognize that perfect information is readily available in all organizations. Everyone is still responsible for achieving company goals. Upon seeing Celebration's organization chart, you agree it uses a
_____________.
b. empower employees to make their own decisions and accept the consequences.
c. obtain the necessary information system technologies. Select one:
d. determine what knowledge is most important to the organization. a. cross-functional team organization model
b. line organization model
c. matrix organization model
The correct answer is: determine what knowledge is most important to the organization.
d. line-and-sta organization model
Question 43 Question 44
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Customers who shop on Amazon nd it helpful to read the customer reviews associated with products that others have purchased. A ____________ is two rms combining to form one company.
After making a purchase, the customer can go to Amazon's website and post his/her opinion of the product recently purchased. This
strategy not only assists other customers with their decision making, it helps Amazon react more quickly to the performance of the Select one:
products it sells. Which of the following statements attests to the value of this service? a. joint tenancy
a. This action provides for better tactical planning, particularly the budgeting process. c. tenancy in common
b. This action supports the premise of recruiting, hiring, and motivating the employees who believe in social media and other ways d. merger
to reach customers.
c. This action supports a key criterion of the control function: the measurement of customer satisfaction.
The correct answer is: merger
d. This action provides for complete transparency of company nancial performance.
The correct answer is: This action supports a key criterion of the control function: the measurement of customer satisfaction.
Question 45 Question 46
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Under capitalism: World trade has both bene ts and costs. Which of the following statements attests to this fact?
The correct answer is: most of the means of production and distribution are privately owned and operated for pro t.
The correct answer is: Large companies and small companies agree that the green movement is a global issue. Firms are embracing
opportunities to bring value to consumers by creating green products and services.
Question 47 Question 48
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Finley is a limited partner in Gettout & Associates. Heywood U. Gettout, one of the general partners in the company, must temporarily In most large cities there are a large number of bakeries. These bakeries produce similar, but not identical, products. Some bakeries
leave the company to attend to some personal matters. Heywood has asked Finley to perform his managerial duties while he is gone. claim to have the best cheesecakes in town, while others brag about their cookies or specialty breads. The bakery market in a large city
As a limited partner, Finley: is an example of:
The correct answer is: cannot participate in the management of the partnership. The correct answer is: monopolistic competition.
Question 49 Question 50
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Whirlpond, a manufacturer of home appliances, has historically produced the components for their products. However, Whirlpond now Travis has agreed to invest $16,000 in a partnership with his sister and brother-in-law. He does not intend to actively work in the
contracts with other rms to produce these components. This strategy of __________ is a current trend among U.S. manufacturers. partnership, nor does he wish to risk any of his own assets other than the $16,000 he initially invests. The partnership has agreed to
permit him to share in the pro ts. As an expert on forms of business ownership, you know that Travis is a ______________ in this
Select one: partnership.
a. core positioning
Select one:
b. outsourcing
a. limited partner
c. foreign competency
b. general partner
d. competitive benchmarking
c. secondary partner
d. preferred stockholder