One small step for MANAGEMENT
Which of these is an example of good communication in management?
A. Ignoring Employee Concerns and Making Decisions Without Input
B. Clearly Setting Expectations & Providing Constructive Feedback
C. Giving Vague Instructions & Expecting Employing to Figue it Out
D. Using Overly Complex Jargon that Confuses the Team
B. Clearly Setting Expectations & Providing Constructive Feedback
What are the 3 Main Financial Statements?
A. Statement of changes in shareholder equity, Balance sheet, Cash Flow Statement
B. Balance Sheet, Income Statement, Cash Flow Statements
C. Non-profit Financial Statements, Comprehensive Income, Statement of changes in shareholder equity
D. Income statement, cash flow statements, non-profit financial statements
B. Balance Sheet, Income Statement, Cash Flow Statement
What are the three streams in the program?
A. Hotels, Foods, Entertainment
B. Hotels and Lodging, Restaurant and Foodservice, Tourism
C. There is only one standard stream
D. Ecotourism, Health and Wellness, Hospitality
B. Hotels and Lodging, Restaurant and Foodservice, Tourism
Which of the following is an example of a demographic for market segmentation?
A. Age
B. Buying Behaviour
C. Lifestyle
D. Geographic
A. Age
What undergraduate bachelor program is offered at Lang?
A. B.Math
B. B.Comm
C. B.Comp
D. B.A
B. B.Comm
What does SMART stand for?
A. Simple, Meaningful, Achievable, Realistic, Time
B. Strategic, Motivational, ACcurate, Reliable, Targeted
C. Specific, Measure, Attainable, Realistic, Time
D. Strong, Manageable, Adaptable, Reasonable, Tangible
C. Specific, Measure, Attainable, Realistic, Time
Which of the following is an Current Asset?
A. Accounts Payable
B. Revenue
C. Accounts receivable
D. Salary Expense
C. Accounts receivable
Which is not part of the hospitality industry?
A. Hotels
B. Restaurants
C. University Residence
D. Retail Stores
D. Retail Stores
What is the purpose of marketing?
A. To Manipulate Customers into Buying Things They Don't Need
B. To Create Value for Customers
C. To Focus Only on Advertising & Promotions
D. To Maximize Company Profits
B. To Create Value for Customers
What is the primary focus at Lang?
A. Business as a Force for Good
B. Business Education
C. Sustainable Business
D. Corporate Social Responsibility
A. Business as a Force for Good
What is the purpose of a mission statement?
A. Defines an organization's purpose, goals, and values
B. To Outline Specific Quarterly Sales Targets
C. To Provide a Detailed List of Company Rules & Policies
D. To Describe the Company's Financial Performance
A. Defines an organization's purpose, goals, and values
A company's balance sheet shows assets of $500,000, and liabilities of $300,000. What is the shareholders equity?
A. $200,000
B. $300,000
C. $500,000
D. -$200,000
A. $200,000
What is the name of the student run restaurant on campus?
A. Brass Taps
B. PJs
C. Craft Kitchen & Ale House
D. The Bullring
B. PJs
What is not one of the Four Ps of Marketing?
A. People
B. Price
C. Promotion
D. Product
A. People
How many majors and minors offered, not including undeclared?
A. 10, 11
B. 8, 10
C. 9, 10
D. 9, 11
C. 9, 10
Which is a key example of a SWOT analysis?
A. Identifying a Company's Strong Reputation as a Strength
B. Listing Employee Work Schedules for the Next Quarter
C. Setting Annual Revenue Targets for the Company
D. Creating a New Advertising Campaign
D. Identifying a Company's Strong Reputation as a Strength
What does GAAP stand for?
A. Global Association of Auditing Professionals
B. Governmental Accounting and Auditing Policies
C. Generally Accepted Accounting Principles
D. General Analysis of Accounting Procedures
C. Generally Accepted Accounting Principles
What is sustainable tourism?
A. Mass tourism that prioritizes profit over environment
B. Travel that ignores local communities
C. tourism that minimizes the negative impact on the environment and local culture
D. tourism that encourages unlimited resource consumption
C. tourism that minimizes the negative impact on the environment and local culture
What does customer loyalty look like?
A. A customer buys from a brand once and never returns
B. A customer always buys the cheapest option regardless of the brand
C. A customer frequently switches between brands based on promotions
D. A customer repeatedly purchases from the same brand and recommends it to others
D. A customer repeatedly purchases from the same brand and recommends it to others
What is the main student association at Lang?
A. Lang Student Association (LSA)
B. Accounting Student Association (ASA)
C. Marketing Management Student Association (MMSA)
D. Central Student Association (CSA)
A. Lang Student Association (LSA)
Which of the following is an ethical dilemma in business?
A. Choosing a new logo for rebranding
B. Selecting a new supllier based on pricing alone
C. Choosing between increasing profits and treating employees fairly
D. Deciding how much to spend on office supplies
C. Choosing between increasing profits and treating employees fairly
Which of the following is the primary purpose of financial accounting?
A. To maximize company profits
B. To minimize a company's tax liability
C. To report financial information to external users
D. To help managers make internal business decisions
C. To report financial information to external users
What is an example of demand-based pricing –
A. Setting prices at a fixed rate regardless of customer demand
B. Charging all customers the same price, no matter the time or market conditions
C. Lowering prices only when production costs decrease, without considering demand
D. Adjusting the price based on time of year and competition in local market
D. Adjusting the price based on time of year and competition in local market
What is the product life cycle?
A. A Product Stays in the Growth Stage Forever if it is Successful
B. Once a Product is Introduced, it Never Needs Updates or Changes.
C. Introduction, Growth, Maturity, and Decline
D. The Product Life Cycle Only Applies to Physical Goods, Not Services
C. Introduction, Growth, Maturity, and Decline
What is the name of the centre in Lang that offers workshops in entrepreneurial skills?
A. Business Career Development Centre
B. John F. Woods Centre
C. Office of Teaching and Learning
D. Commerce Corner
B. John F. Wood Centre