It's Gotta Be Government
Which federal agency is responsible for enforcing workplace safety regulations?
A. FDA
B. OSHA
C. EPA
D. FTC
B. OSHA
Which department typically handles a company's PUBLIC image?
A. Operations
B. Finance
C. Public Relations
D. Human Resources
C. Public Relations
What is a matrix organizational structure?
A. Employees report to one supervisor
B. Employees report to multiple supervisors across different functions
C. No formal reporting structure exists
D. Only temporary reporting relationships exist
B. Employees report to multiple supervisors across different functions
What is the primary role of human resources in an organization?
A. Selling products
B. Managing employee relations and workforce development
C. Creating marketing campaigns
D. Maintaining IT systems
B. Managing employee relations and workforce development
Which federal law requires employers to provide unpaid leave for certain family and medical issues?
A. ADA (Americans With Disabilities Act)
B. Civil Rights Act
C. FMLA (Family Medical Leave Act)
D. Equal Pay Act
C. FMLA (Family Medical Leave Act)
What is the primary purpose of government regulation in business?
A. To maximize business profits
B. To protect consumer interests and ensure fair practices
C. To eliminate all business competition
D. To decrease business taxes
B. To protect consumer interests and ensure fair practices
Which position typically oversees a company's financial operations?
A. CMO
B. COO
C. CFO
D. CTO
Bonus: Define it.
C. CFO (Chief Financial Officer)
What is the main purpose of antitrust regulations?
A. To promote monopolies
B. To prevent unfair competition and monopolies
C. To increase government control
D. To reduce international trade
B. To prevent unfair competition and monopolies
What is a flat organizational structure characterized by?
A. Multiple management layers
B. Fewer hierarchical levels and more direct communication
C. Strict chain of command
D. Limited employee interaction
B. Fewer hierarchical levels and more direct communication
In effective leadership, what should be done before implementing solutions?
A. Assign blame for problems
B. Listen to team members' input
C. Implement immediate changes
D. Ignore minor issues
B. Listen to team members' input
Which type of business structure provides the most government oversight?
A. Sole proprietorship
B. Partnership
C. Publicly traded corporation
D. Limited liability company
C. Publicly traded corporation
What is the main function of a board of directors?
A. Handle day-to-day operations
B. Oversee executive management
C. Oversee employee schedules
D. Oversee customer complaints
B. Oversee executive management
In terms of corporate governance, what is the best definition of a stakeholder?
A. Any and all shareholders
B. Any and all people with an interest in/affected by the company's actions
C. Any and all company employees
D. Any and all top executives
B. Any and all people with an interest in/affected by the company's actions
Which department typically handles quality control in manufacturing?
A. Marketing
B. Human Resources
C. Operations
D. Public Relations
C. Operations
What is the primary goal of human resource management?
A. Reduce employee benefits
B. Increase work hours
C. Improve productivity
D. Minimize training costs
C. Improve productivity
What role does the Chief Operating Officer (COO) typically fulfill?
A. Managing company finances
B. Overseeing daily business operations
C. Handling legal issues
D. Managing marketing campaigns
B. Overseeing daily business operations
In corporate governance, what is the role of independent directors?
A. Managing daily operations and tasks
B. Providing unbiased oversight and objective decision-making
C. Handling customer service and complaints
D. Managing employee benefits and PTO
B. Providing unbiased oversight and objective decision-making
What is the primary function of compliance officers?
A. Maximizing profits
B. Managing employees
C. Ensuring adherence to laws and regulations
D. Creating marketing strategies
C. Ensuring adherence to laws and regulations
What is the main purpose of organizational charts?
A. To show how much money a company makes vs. how much it loses
B. To illustrate reporting relationships and company structure
C. To list employee salaries and show ways to reduce them
D. To display product information and how to cut costs
B. To illustrate reporting relationships and company structure
Which federal law established minimum wage and maximum working hours?
A. Civil Rights Act
B. Working Children Act
C. Fair Labor Standards Act
D. Americans with Disabilities Act
C. Fair Labor Standards Act
Which regulatory body oversees securities trading and stock markets?
A. Federal Reserve
B. IRS
C. SEC
D. FDA
C. SEC
C. C-level executives
Which government agency regulates environmental compliance for businesses?
A. EPA
B. FDA
C. FCC
D. DOL
Hint: If you've seen the simpsons movie you'd know ;)
A. EPA
What is the primary responsibility of middle management?
A. Setting company-wide strategy
B. Implementing organizational policies and supervising staff
C. Approving major financial decisions
D. Managing shareholders
B. Implementing organizational policies and supervising staff
What must employers provide to protect workers injured on the job?
A. Life insurance
B. Health insurance
C. Workers' compensation insurance
D. Disability insurance
C. Workers' compensation insurance