Emotional Intelligence
What term describes the ability to recognize and understand your own emotions and how they influence your behavior
What is Self-Awareness?
A company creates a long-term plan to increase sales, attract new customers, and compete more effectively with other businesses. What is the process of setting goals and developing plans to acheive them called?
What business function involves coordinating the resources and processes needed to produce goods or deliver services?
What is Allocation/Operation Management?
What is the term for the money a business earns from selling its goods or services BEFORE subtracting expenses?
What is Revenue?
What legal term describes an agreement between two or more parties that creates obligations enforceable by law?
A manager is giving an employee harsh, unfiltered, negative feedback. The employee remains calm and adjusts their behavior instead of reacting defensively. What emotional intelligence competency is the employee exhibiting?
What is Self-Regulation?
What type of analysis examines a business's strengths, weaknesses, opportunities, and threats?
What is a SWOT analysis?
A company wants to reduce the number of defective products coming off its assembly line. What operational process should it use to monitor product standards and identify defects?
What is Quality Control?
A business has total revenue of $80,000 and total expenses of $55,000 over one month. What is its net profit for that month?
What is 25,000?
A customer slips on a wet floor in a store because employees failed to place warning signs or clean up the spill. What legal concept could make the store responsible for the customer's injuries?
What is Negligence?
Two employees disagree over how to complete a project. Their manager listens to both perspectives, identifies the source of quarrel, and helps them reach a solution that satisfies both parties. What conflict-management approach is the manager using?
What is Collaboration?
A company evaluates its competitors' prices, products, and customer service to identify ways to gain an advantage in the marketplace. What type of analysis is the company conducting?
What is Competitve Analysis?
A warehouse manager creates a detailed document outlining the exact steps employees must follow when receiving, inspecting, and storing incoming shipments. What type of operational document has the manager created?
What is a Standard Operating Procedure (SOP)?
A business has current assets of $150,000 and current liabilities of $75,000. What is its current ratio, and what does this ratio measure?
What is a 2:1 ratio & current assets to liabilities?
A business uses another company's registered logo on its products without their permission. What type of intellectual property violation may have occurred?
What is Copyright/Trademark Infringement?
A team leader notices that an employee has become unusually quiet during meetings and appears frustrated. Rather than making assumptions, the leader asks open-ended questions, listens carefully, and tries to understand the employee's perspective. What emotional intelligence competency is the leader demonstrating?
What is Social Awareness?
A company has strong brand recognition and loyal customers, but it faces growing competition and declining sales in its main market. Management decides to use its brand strength to enter a new geographic market. In a SWOT analysis, what type of strategic approach is the company using?
What is Strength–Opportunity (SO) strategy?
A clothing retailer frequently runs out of popular products while accumulating excess stock of items that rarely sell. What operational process should the retailer improve to better match inventory levels with customer demand?
A company has total sales of $250,000, cost of goods sold of $150,000, and operating expenses of $60,000. What is its operating profit margin as a percentage of sales?
What is 16%?
A business owner tells a potential investor that the company has secured a major contract, even though the owner knows the contract was rejected. The investor relies on this false statement and invests money. What legal concept could apply to the owner's deliberate misrepresentation?
What is Fraud?
A manager is leading a team through a major organizational change. Several employees are anxious about their job security, and productivity begins to decline. The manager acknowledges their concerns, communicates honestly about the changes, and helps employees remain motivated despite the uncertainty.
What is Empathy?
A company determines that its product has a higher price than competitors but offers superior quality and customer service. Management decides to emphasize these advantages rather than lower prices. What competitive strategy is the company pursuing?
What is Differentiation Strategy?
A manufacturer produces 2,000 units per week but discovers that 8% of its products are defective. Management wants to reduce waste and improve consistency by identifying the underlying causes of defects. What continuous improvement methodology could the company use to reduce process variation and defects?
What is Six Sigma?
A business generates $120,000 in revenue and has $72,000 in cost of goods sold. What is the business's gross profit margin as a percentage of revenue?
What is 40%?
GPM = (Revenue-COGS/Revenue) x 100%
A supplier agrees in a signed contract to deliver 500 units to a retailer by June 1. The supplier fails to deliver by the agreed date, causing the retailer to lose sales. What type of legal claim could the retailer bring against the supplier?
What is a Breach of Contract?