SM-001
Which of the following is the main purpose of management:
To accomplish the business’s goals
The people who work to produce goods and services are known as
human resources.
Having positive customer relations means making customers
happy.
A business can be described as a
organized effort to produce goods and services.
The general classifications of business risks are
hazard, operational, strategic, and financial.
What management function is being described in the following situation: David Thomas, a top-level manager, identifies jobs to be performed, assigns responsibility for them, establishes departments to handle the jobs, and determines how many and which employees mid-level managers will supervise.
Organizing
A job specification is an explanation of
the skills, knowledge, and characteristics required for a job.
To build positive customer relations, a business must be
proactive.
Every business must accomplish which of the following:
Produce or provide goods/services
A garden store customer tripped over a plant, fell, and sued the store for damages. This is an example of a_____ risk
hazard
Which management function is described in the following situation: Christy Chen determines the type of workers she needs, locates qualified applicants, selects those to be hired, and assigns the new hires to a work area.
Staffing
The part of staffing that involves seeking out and attracting qualified potential job candidates is called
recruiting.
Building positive customer relations is one of the least expensive ways for a business to
compete with other businesses.
Financial analysis occurs when a business
keeps accurate expense records.
What category of business risk includes production problems and incompetent employees?
Operational
Which management function is described in the following situation: James Crane has created a team atmosphere among the members of his sales department. When the team exceeded their monthly sales goal, James rewarded them with a celebratory dinner out and a 5% bonus.
Directing
Which of the following is a purpose of an exit interview:
To gain constructive suggestions for improvement
Technology aids positive customer relations because it gives customers
greater access to the business.
Janelle’s Creative Supplies is opening an additional location on the other side of town. To successfully operate the new location, Janelle primarily needs
additional employees.
When a rival’s product on the market reduces sales of your company’s product, your company is experiencing strategic risk caused by
competition.
A manager who helps an employee count the money in a cash drawer and prepare a bank deposit is demonstrating
technical skills.
A commission or bonus is an example of a form of
compensation.
Businesses use technology to build positive customer relations by
creating targeted marketing campaigns.
Which of the following activities demonstrates information management:
Storing and retrieving information
Financial loss from investing time and money to comply with accounting standards is an example of which strategic risk?
Regulatory and political issues