Match 1. the following constructs with their respective concepts a. b. c. d. e. Objectives of business Functional areas of business Functions of operations management Pricing strategies Members of the supply chain A A A A B B B D D C D B D D C D C E E E E E
2. Survival 3. Growth 4. Profit 5. Social responsibility 6. Marketing 7. Operations 8. Finance 9. Location 10. Layout 11. Scheduling 12. Quality 13. Inventory 14. Skimming 15. Penetration 16. EDLP 17. High-low 18. Cost leadership 19. Suppliers 20. Manufacturers 21. Wholesalers 22. Retailers 23. Consumers
24. Match the following influences on career choice with their definition a. b. c. d. e. Education Interests Life experience Strengths Values
25. Knowledge or skill obtained or developed by a formal learning process A 26. Personal attitudes and motivators, what is important to you. E 27. Skills, personal qualities and knowledge D 28. The experience a person accumulates through interacting within a prevailing social environment C 29. Your preferences for how you spend your time; things you like or enjoy. B
30. In the following five questions, which of the following characterize business in the XX century? In the XXI century? a. b. c. d. e. Bureaucracy XX Entrepreneurship XI Mass production XX Virtual organizations XI Wage slavery XX
31. XX century 32. XXI century
33. The main job of managers today is to watch over people to be sure they do what the manager asks of them a. True b. False
34. Today workers can expect to work for the same company for a lifetime a. True b. False
35. Managers in high-technology firms should respond to the fact that workers often know much more about technology than they do by emphasizing direction and supervision a. True b. False
36. As a management function, the main focus of controlling is to keep complete and up-to-date records of the organization's financial transactions for tax and regulatory purposes a. True b. False
37. Match the following task descriptions with the management function they exemplify a. Today's organizations are designed around the customer. The idea is to design the firm so that everyone is working to please the customer at a profit. organizing b. Managers spend time analyzing consumer surveys to see how well their companies achieve the goal of improving customer satisfaction. leading c. Executives meet often to look at future trends in their industries, and to identify new challenges and opportunities for their companies planning d. Managers work on guiding, training, and motivating others to work towards the achievement of an organization's goals controlling 38. Planning 39. Organizing 40. Leading 41. Controlling
42. Today's business environment changes so rapidly that strategic planning is becoming more difficult and subject to change. a. True b. False
43. If managers do a good job planning and organizing, there shouldn't be a need for them to be involved with controlling. a. True b. False
44. Accounting and finance are important for control systems because they provide the numbers management needs to evaluate progress. a. True b. False
45. Which of the following statements is true? a. Sole proprietorships are usually the most difficult form of business to establish b. The profits of a sole proprietorship are taxed as the personal income of the owner c. The sole proprietorship form of ownership is attractive to people who want to invest in a company without taking an active role in management d. A major advantage of sole proprietorships is that an owner has limited liability for the debts of his or her business e. One of the strengths of the sole proprietorship is its ability to sustain rapid growth by raising large amounts of financial resources
46. In a general partnership, all active partners are entitled to an equal share of the firm's profits a. True b. False
47. Partnerships are more likely to fail than sole proprietorships a. True b. False
48. Corporations are easy start to and easy to terminate a. True b. False
49. Classify the following mergers and acquisitions a. Disney acquiring Pixar (vertical) b. Google acquiring YouTube (horizontal) c. eBay acquiring Skype (Unrelated) 50. Vertical merger 51. Horizontal merger 52. Unrelated merger
53. Which of the following statements is false? a. Often the needs of a firm's various stakeholders' will conflict b. Stakeholders are affected by the products, policies and practices of businesses c. Stakeholders are all the people who stand to gain or lose by the policies and activities of a business d. Stakeholders include customers, employees, stockholders, suppliers, dealers, bankers, government officials and environmentalists e. All of the statement above are true, none of them is false
54. Is appropriate legal supervision enough to ensure the enactment of corporate social responsibility? a. Yes b. No
55. In the short term, the wealth of shareholders in a stakeholder firm will be _______ than it would be if it were a shareholder firm a. Higher b. Lower c. About the same 56. In the long term, the wealth of shareholders in a stakeholder firm with be __________ than it would be if it were a shareholder firm a. Higher b. Lower c. About the same
57. Stockholders in a corporation normally exert a significant degree of control over the company's daily operations a. True b. False
58. Match the following statements to the theory of motivation they belong to a. Individuals cannot start fulfilling a set of needs until they have satisfied more basic ones; 59 b. Individuals see work as a natural part of life; 60 c. There are some actions a manager can take that, while necessary to maintain employee's commitment, will not increase their motivation; 61 d. Motivation is a function of rewards, value of rewards, and difficulty in achieving rewards; 63 e. Individual evaluations of equity are biased in favor of oneself and against others. 62 59. Maslow's hierarchy of needs 60. Theory Y 61. Two factor theory 62. Expectancy theory 63. Equity theory
64. In which order are Maslow's needs achieved? a. b. c. d. e. 65. First 66. Second 67. Third 68. Next-to-last 69. Last Belonging 67 Esteem 69 Physiological 65 Safety 66 Self-actualization 68
70. Match the following characteristics of bureaucratic organizations with their sources a. b. c. d. e. f. Chain of control 72 Rules and regulations 72 Economies of scale 71 Many organizational layers 71 Little or no communication 71 Uniformity 72
71. Departmentalization 72. Centralization
73. Match the concepts with the different constructs associated with technological innovation in business. a. b. c. d. e. Causes of technological innovation in industry Kinds of technological innovation activity in industry Sources of technological innovation in industry Types of technological innovation in industry (degree) Types of technological innovation in industry (location) a d e b b b d d a e e d b a a
74. Competition 75. Contracting out 76. Development 77. Disruptive 78. Incremental 79. Internal 80. Joint ventures 81. Licensing 82. Market pull 83. Process 84. Product 85. Purchasing 86. Radical 87. Research 88. Technology push
89. Match the following retailers with their description a. b. c. d. e. Wal-Mart Costco Home Depot TJ Maxx Wegmans' a e b c d
90. Discount store 91. Supermarket 92. Warehouse club 93. Category killer 94. Outlet store
95. Channels of distribution add value to the goods and services they sell a. True b. False
96. Match the following promotional activities with their strategic intent a. b. c. d. e. f. 97. Pull 98. Push Advertising Consumer promotions Loyalty programs Personal selling Sales incentives Trade promotions push push pull push pull push
99. Personal selling represents a form of individualized advertising a. 100. True b. 101. False
100. It is just as important to generate employee enthusiasm about a product as it is to attract potential customers
a. True b. False