Question 1
_____ refers to a firm's shared values, beliefs, traditions, philosophies, rules, and role models for behavior.
A) organizational culture
B) organizational structure
C) centralization
D) Organizational chart
Question 2
_____ is the division of labor into small, specific tasks and the assignment of employees to do a single task.
A) Outsourcing
B) Centralization
C) Specialization
D) Delegation
Question 3
A company that has departments for marketing, finance, personnel, and production is organized by:
A) project
B) function
C) Territory
D) customer
Question 4
Which of the following concepts deals with giving employees the power to make commitments and use resources to accomplish the assigned tasks?
A) Delegation of authority
B) Accountability
C) Departmentalization
D) Specialization
Question 5
_____ is usually preferred when the decisions of a company are very risky and low-level managers lack decision-making skills.
A) Decentralization
B) Delegation of authority
C) Employee empowerment
D) Centralization
Question 6
What motivates employees to perform on the job is the focus of ____, which is the study of the behavior of individuals and groups in organizational settings.
A) work ethics
B) organizational structure
C) human resources
D) business strategies
Question 7
An inner drive that directs a person's behavior toward goals is called ____.
A) a need
B) a reward
C) morale
D) motivation
Question 8
Which of the following is labeled the Hawthorne effect?
A) Productivity decreased regardless of supervision
B) Productivity increased as pay increased
C) Productivity increased regardless of physical conditions
D) Productivity decreased as work hours increased
Question 9
According to Maslow's hierarchy of needs, which of the following needs do people strive to satisfy first?
A) Physiological
B) Security
C) Social
D) Self-actualization
Question 10
Anand believes that he can get extra work done by his subordinates by close supervision. He also instills fear on a bonus being refused if deadlines are not met. Anand could be described as:
A) a Theory X manager, according to McGregor.
B) a manager who focuses on the hygiene factors proposed by Herzberg.
C) a Theory Z manager, according to Ouchi.
D) a Theory Y manager, according to McGregor.
Question 11
Theory Z of employee motivation includes many elements associated with the _____ approach to management.
A) American
B) German
C) Chinese
D) Japanese
Question 12
Which of the following adds tasks to a job instead of treating each task as a separate job?
A) Job rotation
B) Job enrichment
C) Job enlargement
D) Job design
Question 13
A human resources manager deciding how many new employees an organization will need to fill vacant positions in the near future is engaging in the activity of ____.
A) training
B) compensating
C) recruiting
D) planning
Question 14
An overview of a job's title, tasks, relationships with other jobs, the physical and mental skills required, duties, responsibilities, and working conditions is referred to as the:
A) job appraisal.
B) job description
C) job specification
D) job portfolio
Question 15
The _____ is a federal agency established by the Civil Rights Act of 1964 and dedicated to increasing job opportunities for women and minorities and eliminating job discrimination based on race, religion, color, sex, national origin, or handicap.
A) United States Commission on Civil Rights
B) Equal Employment Opportunity Commission
C) Pension Benefit Guaranty Corporation
D) National Center for Civil and Human Rights
Question 16
If a company pays its workers additional compensation at the end of the year as a "thank you" for good work, this monetary reward would most likely be categorized as:
A) a bonus.
B) a benefit
C) commission.
D) a salary.
Question 17
Which of the following forms of compensation is NOT a benefit?
A) Health insurance
B) Pension plans
C) Paid vacation
D)
Commissions
Question 18
_____ is the only business function that is directly responsible for creating sales and revenue.
finance
marketing
recruiting
Accounting
Question 19
_____ is the goal of the marketing concept
Question 19
A) Product orientation
B) Customer satisfaction
C) Sales orientation
D) Productivity boosting
Question 20
Ferava Inc. is a company that markets its products-luxury wristwatches-exclusively to high-income individuals and celebrities. Thus, high-income individuals and celebrities are most likely Ferava Inc.'s
Question 20
A) market segment
B) target market
C) reference group
D)
control group
Question 21
In _____ marketing, all marketing efforts are on one small, narrow, well-defined market segment that has a unique, specific set of needs.
A) differentiated
B) niche
C) mass
D) multisegment
Question 22
Which of the following is a basis for the psychographic segmentation of markets?
A) Gender
B) Education
C) Income
D) Lifestyle
Question 23
Gear Power Inc., an automobile company, manufactures different cars for different market segments. It markets SUVs for customers who live in the mountains, sedans for customers in the coastal plains, and smaller hatchback cars for those in big cities. In this scenario, Gear Power Inc. is primarily using _____ variables of market segmentation.
A)
geographic
B) demographic
C) psychographic
D) ethnographic
Question 24
Which of the following is NOT one of the four marketing activities of the marketing mix?
A) Profit
B) Price
C) Promotion
D) Product
Question 25
The case study about New Belgium Brewery highlighted that most of the brewery's processes were automated EXCEPT:
A) the fermentation process
B) water processing and sustainability
C) Packaging and bottling
D) the ESOP
Question 26
One of the major threats to the Colorado based New Belgium Brewery in the SWOT analysis include
A) Rocky Mountain Fever
B) Employee unionization
C) pot
D) water shortages
Question 27
Market segmentation by genre and demographics in the music business is often used by businesses to
A) Target their markets and advertising dollars
B) Waste money on advertising
C) To choose customers' radio stations
D) Spend more on advertising
Question 28
The Container Store video case featured employees who enjoyed their jobs and were likely to stay with the Container Store long periods of time. The Container Store accomplished this feat by offering
A) Free Food
B) Long breaks
C) 2 weeks of training
D) Employee discounts of 50%
Question 29
Carvana, the new online used car business that recently opened a new delivery method for customers in Nashville, TN is considered a _______in the business world
Disruption
Random operator
Marketing ploy
Industrial mess
Question 30
A customer's subjective assessment of benefits relative to costs in the worth of a product is called
Cost of the product
Perceptions
consumer orientation
Value
Question 31
A plan of action for developing and pricing, distributing and promoting products is referred to as a
A) Tactical plan
B) Marketing strategy
C) Business Plan
D) Travel plan
Question 32
A narrow market segment focus, where efforts are on one smalll, well-defined group with a unique, specific set of needs is called a
A) Target market
B) Discount market4
C) Super Market
D) Niche market
Question 33
In market research, data that is observed, recorded or collected directly from consumers is called _____data.
A) Strategic data
B) Secondary
C) Primary data
D) Nielson Data
Question 34
Groups with whom buyers identify with or whose attitudes and values are similar are called
A) Reference groups
B) Social classes
C) Perceptual relations
D) culture clashes
Question 35
A trial minilaunch of a product or service in a limited area that is representative of a larger, similar area is called
A) Test Marketing
B) Idea generation
C) Cosumer try-outs
D) Product Development
Question 36
In the Growth stage of the Product Life Cycle, consumer awareness and acceptance of the product is
A) Zero
B) Limited
C) Somewhat high
D) Maximized
Question 37
In the maturity stage of the Product Life Cycle, the sales curve ____ and profits ______.
A) declines, peaks
B) peaks, declines
C) climb moderately, climb high
D) fall rapidly, decline
Question 38
This type of pricing strategy includes pricing a product at the highest possible price that buyers are willing to pay.
A) Penetration
B) Reference
C) Skimming
D) Psychological
Question 39
Supply chain management is concerned with
A) Selling to wholesalers
B) Creating alliances with distribution channel intermediaries and channel members
C) Retail operations
D) Building fences
Question 40
______ is the design and operation of facilities to receive, store, and ship products.
A) Warehousing
B) Transportation
C) Wholesaling
D) Retailing
Question 41
A paid form of nonpersonal communication sent through mass media is called
A) Advertising
B) Driving
C) Promotion
D) Personal selling
Question 42
Publicity is a nonpersonal communication transmitted through mass media but it differs from advertising because
A) It is not paid for
B) it is only in magazines
C) people don't object to it
D) is peron to person
Question 43
If a consumer writes a letter to a breakfast cereal manufacturer and requests that it change its packaging to a resealable bag, this is called a _____ strategy to create consumer demand.
A) push strategy
B) pull strategy
C) Publicity
D) economic
Question 44
Service quality is judged by _______, not the service providers
A) stockholders
B) managers
C) consumers
D) supervisors
Question 45
The Accounting Equation is
A) Income-Expenses=Profit
B) Owners Equity-Liabilities=Assets
C) Revenue x taxes= Equity
D) Assets=Liabilities+Owners Equity
A financial report that shows an organization's profits over a period of time.
A) Accounts Receivable
B) Income Statement
C) Balance Sheet
D) Accounts Payable
Question 47
The amount of money a firm spends to buy or produce the goods it sales is called
A) Interest Expense
B) Earnings per share
C) Gross profit
D) Cost of Goods sold
Question 48
One of the most important statements for small business owners with limited capital and frequent changes in cash flow is
A) The Balance Sheet
B) The Income Statement
C) Santa's list of who has been naughty or nice
D) The Statement of Cash Flows
Question 49
The 4 P's of Marketing include product, price, promotion and place. Place refers to ______.
A) Distribution
B) Visions of sugar plums
C) Getting a lump of coal from Santa
D) the North Pole
Question 50
The first self service grocery store that necessitated colorful, informational packaging and advertising of products was
A) Piggly Wiggly
B) Kroger
C) Publix
D) Santa's Workshop and Peppermint Grocery Store