Management and Administration
Burkhart Manufacturing is implementing a new, company-wide computer system. Nadine is in the process of identifying the skills that will be needed to manage the information and maintain the various software applications. What function of management is Nadine focusing on?
a. Training
b. Controlling
c. Planning
d. Staffing
d. Staffing
Small businesses are important to the economy because they
a. indicate future economic trends.
b. create employment opportunities.
c. have a large impact on the stock market.
d. generate large amounts of revenue.
b. create employment opportunities.
Investment banking, portfolio management, and accounting are all part of which of the following sectors of business:
a. Finance
b. Marketing
c. Entrepreneurship
d. Management
a. Finance
Hospitality businesses are developing strategies to accommodate niche markets. Skydivers are an example of a group in a growing segment called the __________ market.
a. adventure
b. environmental
c. agritourism
d. Geotourism
a. adventure
Which of the following is an example of a pull sales promotion strategy:
a. A sales incentive program
b. A slotting allowance
c. A booth at a trade show
d. A buy one, get one free deal
d. A buy one, get one free deal
Even though Joseph has worked as an accountant for 20 years, he recently enrolled in a community college course to help him master the new software his department is using. He knows that if he doesn't keep up with current technologies, he could be replaced by a younger worker. This is an example of the importance of __________ in the workplace.
a. frequent training
b. ongoing education
c. mentorship programs
d. student loan forgiveness
b. ongoing education
A book publisher provides free copies of its newest releases to a handful of book reviewers in the hopes that they will spread the word about the books to their followers. This is an example of __________ marketing.
a. mass
b. viral
c. grassroots
d. scarcity
c. grassroots
Which of the following is an example of a policy that's influenced by environmental law:
a. Medicine must be approved to be marketed to the public.
b. In many places, seatbelts are required by the government.
c. Drinking water must meet state, provincial, and federal quality standards.
d. Drivers must obey posted speed limits.
c. Drinking water must meet state, provincial, and federal quality standards.
Which of the following is one of the most important skills for a project manager to possess:
a. Strength
b. Leadership
c. Education
d. Integrity
b. Leadership
PetFast pet store is known for its low prices and great value. The store frequently advertises its weekly sales, during which customers can get bulk pet foods for discounted prices. This is an example of corporate
a. strategizing.
b. positioning.
c. price fixing.
d. Modeling.
b. positioning.
Before knowledge can be reused or shared, it must be
a. manipulated.
b. recognized.
c. embedded.
d. analyzed.
b. recognized.
Which of the following is an example of a safety procedure that a business might require its employees to follow:
a. Store supplies in the facility's offices, closets, and aisles.
b. Wear protective headgear when working in hazardous areas.
c. Place equipment in front of the business's emergency exits.
d. Review products to ensure quality standards are met.
b. Wear protective headgear when working in hazardous areas.
Which of the following issues is keeping risk managers from getting the right information into the right context so that the right decisions can be made:
a. Having a centralized enterprise risk management system
b. Having transparency around the effects of volatility on the organization
c. Having many different sources of data that can be used to assess risk
d. Having too little information that can be used to assess and understand risk
c. Having many different sources of data that can be used to assess risk
Sarah is speaking to a customer who is decisive, forceful, and in a hurry. Sarah should
a. get to the point of her communication quickly.
b. give the customer time to talk about themselves.
c. discuss detailed statistics and information.
d. take time to develop a relationship with the customer.
a. get to the point of her communication quickly.
If marketers do not have enough secondary data available to meet the company's needs, they must
a. conduct primary research.
b. find a new project.
c. create data.
d. wait until secondary data appear.
a. conduct primary research.
A company that wishes to lower its risk management costs might start its own __________ insurance company, which is a type of corporate self-insurance.
a. captive
b. medical malpractice
c. professional liability
d. compulsory
a. captive
Which of the following statements regarding the relationship between a business and its supply chain is true:
a. Supply chains with organizational problems tend to boost members' overall success.
b. A business's supply chain has very little impact on the business's overall success.
c. If a business's supply chain is poorly managed, customer satisfaction is likely to suffer.
d. Effective supply chain management results in lower customer satisfaction.
c. If a business's supply chain is poorly managed, customer satisfaction is likely to suffer.
Which of the following finance professionals typically oversees a company's cash management, capital raising, and investment activities:
a. Underwriter
b. Risk manager
c. Cash manager
d. Treasurer
d. Treasurer
One way in which many lodging facilities automate their product offerings is by
a. offering valet parking services.
b. implementing self-service check-in options.
c. encouraging guests to order room service.
d. requiring guests to pay for internet service.
b. implementing self-service check-in options.
Which of the following is a belief you should have about your own behavior if you want to be assertive:
a. Passive behavior is a good response to aggression.
b. You have the right to choose the way you respond to your circumstances.
c. You have the right to be aggressive in some circumstances.
d. Circumstances determine the way you should behave.
b. You have the right to choose the way you respond to your circumstances.
While sequencing the necessary activities for a new construction project, a homebuilder determines that the walls cannot be painted until the drywall has been completed. This is an example of which type of dependency?
a. Finish-to-finish
b. Start-to-finish
c. Finish-to-start
d. Start-to-start
c. Finish-to-start
When setting marketing objectives, a business should make sure that they are
a. qualitative and general.
b. flexible and incompatible.
c. measurable and achievable.
d. timely and costly.
c. measurable and achievable.
Financial information management is responsible for collecting, maintaining, and reporting data about financial transactions. Business managers often use these data to
a. develop secondary equity markets.
b. determine if liability insurance is needed.
c. forecast financial inflows and outflows.
d. calculate the level of corporate groupthink.
c. forecast financial inflows and outflows.
Employees at Winding Brook Resorts have not received raises in three years, but the CEO has received a large bonus each of those years. What can these employees do to advocate for raises?
a. File a lawsuit
b. Go on strike
c. Obtain workers' compensation
d. Quit their jobs
b. Go on strike
Word-of-mouth marketing is based on the idea that
a. cheaper marketing is always more effective.
b. consumers trust each other more than brands.
c. paid advertising no longer works.
d. consumers trust brands over other consumers.
d. consumers trust brands over other consumers.