Business Management Exam Review Quiz

Question 1 of 94

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Management is made up of efficiency and effort. MGMT = E2

Select one of the following:

  • True
  • False

Question 2 of 94

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What are the four core functions of management? Select the four that are correct.

Select one or more of the following:

  • Planning

  • Functioning

  • Managing

  • Organizing

  • Controlling

  • Team Work

  • Leading

Question 3 of 94

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Character of rivalry is apart of the five industry forces according to Porter.

Select one of the following:

  • True
  • False

Question 4 of 94

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Threat of new entrants measures the degree to which barriers to entry make it easy/difficult for new companies to get started in an industry. If it’s easy for new companies to get started in an industry, then competition will increase and prices and profits will fall.

Select one of the following:

  • True
  • False

Question 5 of 94

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Other than character of rivalry and threat of new entrants, what are the three remaining industry forces? Select only those that are correct (3).

Select one or more of the following:

  • Bargaining power of suppliers

  • Bargaining power of manufacturer

  • Bargaining power of buyers

  • Threat of market diversification

  • Threat of substitute products or services

  • Threat of management failure

Question 6 of 94

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Which of the following are included in the steps to rational decision making? Select only the correct answers.

Select one or more of the following:

  • Weigh the criteria

  • Evaluate each alternative

  • Be mindful of your surroundings

  • Identify the decision criteria

  • Identify risk though risk analysis

  • Compute the optimal decision

  • Generate alternative courses of action

  • Define your decision

  • Define the problem

  • Ensure you are considering your ethical values

Question 7 of 94

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If a team is being micro managed, it empowers them to work.

Select one of the following:

  • True
  • False

Question 8 of 94

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You should use a team if there is a large or complex project.

Select one of the following:

  • True
  • False

Question 9 of 94

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Goals and missions must be clear when using a team to minimize conflict.

Select one of the following:

  • True
  • False

Question 10 of 94

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Teams should be used when rewards can be provided for individual effort and performance.

Select one of the following:

  • True
  • False

Question 11 of 94

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A key problem with resources is management resistance. Managers in charge are often reluctant to help teams or turn over resources to them.

Select one of the following:

  • True
  • False

Question 12 of 94

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Middle managers are the ones that make things happen.

Select one of the following:

  • True
  • False

Question 13 of 94

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Phil's Cafe imports coffee beans from Columbia regularly. 80% of his profit is from selling coffee while the other 20% comes from pastries. There was a hurricane in Columbia destroying the majority of the crops for coffee beans. What is this an example of?

Select one of the following:

  • Threat of new entrants

  • External environments

  • Poor management skills

  • Resource Scarcity

  • Risk of failure

Question 14 of 94

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What affects environmental uncertainty?

Select one of the following:

  • Environmental change, environmental instability, and weather

  • Environmental change, environmental complexity, and resource scarcity

  • Environmental complexity, environmental instability, and weather

  • Environmental complexity, environmental instability, and resource scarcity

  • Environmental instability, environmental uncertainty, and resource scarcity

Question 15 of 94

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Environmental uncertainty is highest when environmental change/complexity is extensive and resources are scarce.

Select one of the following:

  • True
  • False

Question 16 of 94

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Environmental uncertainty is highest when environmental change/complexity is not extensive and resources are scarce.

Select one of the following:

  • True
  • False

Question 17 of 94

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Using this real-life example, identify which changing environment category it belongs to (Check all that apply) :
- $1.83 billion Target takeover of Zellers

Select one or more of the following:

  • Environmental Change

  • Environmental Complexity

  • Resource Scarcity

Question 18 of 94

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Using this real-life example, identify which changing environment category it belongs to (Check all that apply) :
- Flooding in Australia and Pakistan

Select one or more of the following:

  • Environmental Changes

  • Environmental Complexity

  • Resource Scarcity

Question 19 of 94

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Using this real-life example, identify which changing environment category it belongs to (Check all that apply) :
- QR codes

Select one or more of the following:

  • Environmental Change

  • Environmental Complexity

  • Resource Scarcity

Question 20 of 94

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The two types of external environments are general and uncertain.

Select one of the following:

  • True
  • False

Question 21 of 94

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Specific environment includes which of the following? (Check all that apply) :

Select one or more of the following:

  • Customers

  • Industry Regulation

  • Competitors

  • Advocacy Groups

  • Suppliers

Question 22 of 94

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Economic, technological, sociocultural, and political/legal trends indirectly affect organizations. This statement reflects what type of external environment?

Select one of the following:

  • General

  • Specific

  • Uncertain

Question 23 of 94

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Business confidence indices show how confident actual managers are about past business growth.

Select one of the following:

  • True
  • False

Question 24 of 94

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Raw materials and information + knowledge, tools, techniques = products/services.

Select one of the following:

  • True
  • False

Question 25 of 94

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Inputs + environment = outputs

Select one of the following:

  • True
  • False

Question 26 of 94

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Advocacy groups are groups of concerned citizens who band together to influence business practices, specific industries, businesses, and professions.

Select one of the following:

  • True
  • False

Question 27 of 94

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Supplier dependence is the degree to which company relies on supplier because of the importance of the supplier’s product to the company and the difficulty of finding other sources of product.

Select one of the following:

  • True
  • False

Question 28 of 94

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Reactive customer monitoring is identifying/addressing customer trends and problems while they occur.

Select one of the following:

  • True
  • False

Question 29 of 94

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Proactive monitoring of customers is when managers see events, trends, and problems directly after they occur.

Select one of the following:

  • True
  • False

Question 30 of 94

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Being a whistle blower in a company means that if someone isn't following policy or breaking policy, you bring these to light.

Select one of the following:

  • True
  • False

Question 31 of 94

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When we looked at the International Code of Ethics for Canadian Business Principles, we focused on FOUR main areas. Which of the following did we focus on? (check all that apply) :

Select one or more of the following:

  • Concerning community participation and environmental protection

  • Concerning women's rights

  • Concerning human rights

  • Concerning business ethics

  • Concerning employee rights and health and safety

  • Concerning business conduct

Question 32 of 94

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When selecting and hiring ethical employees what are the two types of tests that you should use?

Select one of the following:

  • Aptitude and personality tests

  • Aptitude and personality-based integrity tests

  • ethical reasoning and personality-based integrity tests

  • Overt integrity tests and aptitude tests

  • Overt integrity tests and personality-based integrity tests

  • Ethical reasoning and overt integrity tests

Question 33 of 94

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What is the first objective of ethics training?

Select one of the following:

  • Achieves credibility with employees

  • Teaches a practical model of ethical decision making

  • Develops employee awareness of ethics

Question 34 of 94

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What is the third objective of ethics training?

Select one of the following:

  • Achieves credibility with employees

  • Teaches a practical model of ethical decision making

  • Develops employee awareness of ethics

Question 35 of 94

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What is the second objective of ethics training?

Select one of the following:

  • Achieves credibility with employees

  • Teaches a practical model of ethical decision making

  • Develops employee awareness of ethics

Question 36 of 94

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What is the fourth objective of ethics training?

Select one of the following:

  • Teaches a practical model of ethical decision making

  • Enforces the practical model of ethical decision making

  • Achieves credibility with employees

  • Develops employee awareness of ethics

  • There isn't a fourth objective of ethics training

Question 37 of 94

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In the basic model of ethical decision making the second step is identify the constituents.

Select one of the following:

  • True
  • False

Question 38 of 94

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In the basic model of ethical decision making the fifth step is act.

Select one of the following:

  • True
  • False

Question 39 of 94

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In the basic model of ethical decision making the fourth step is analyze your options.

Select one of the following:

  • True
  • False

Question 40 of 94

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In the basic model of ethical decision making the third step is diagnose the situation.

Select one of the following:

  • True
  • False

Question 41 of 94

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In the basic model of ethical decision making the seventh step is identify the constituents.

Select one of the following:

  • True
  • False

Question 42 of 94

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What are the THREE pitfalls of planning? (Check all that apply) :

Select one or more of the following:

  • Impede change

  • There are four pitfalls of planning

  • Lack of communication

  • Detachment of planners

  • False sense of certainity

  • Underestimation

Question 43 of 94

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When making a plan that works you are to:

1. Set goals
2. Develop committment
3. Track progress toward goal achievement
4.Develop effective action plans
5. Maintain flexibility

Select one of the following:

  • True
  • False

Question 44 of 94

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When planning from top to bottom, what are the three plans that first-level managers focus on? (Check all that apply) :

Select one or more of the following:

  • Tactical Plans

  • Standing Plans

  • Single-use Plans

  • Marketing Plans

  • Operational Plans

Question 45 of 94

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When planning from top to bottom, what do top managers focus on?

Select one of the following:

  • Tactical Plans

  • Managing

  • Goals

  • Mission

  • Vision

Question 46 of 94

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Tactical plans specify how a company will use resources, budgets, and people to accomplish goals within its mission (6 months to 2 years).

Select one of the following:

  • True
  • False

Question 47 of 94

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MBO stands for Management by operations.

Select one of the following:

  • True
  • False

Question 48 of 94

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There are two types of operational plans.

Select one of the following:

  • True
  • False

Question 49 of 94

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There are three types of operational plans, from the following list, select the three. (Check all that apply) :

Select one or more of the following:

  • Organizational Plans

  • Single-use Plans

  • Marketing Plans

  • Standing Plans

  • Human Resources

  • Budgets

Question 50 of 94

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There are three steps to the strategy-making process. They are: 1. Assess needs for strategic change, 2. Conduct situation analysis, and 3. Choose strategic alternatives.

Select one of the following:

  • True
  • False

Question 51 of 94

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According to the strategic reference point theory, managers choose between two basic alternative strategies:
- a conservative risk-avoiding strategy that aims to protect existing competitive advantage
OR
- an aggressive risk-eliminating strategy that aims to extend/create sustainable competitive advantage.

Select one of the following:

  • True
  • False

Question 52 of 94

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When it comes to the relationship between diversification and risk, which of the following has the highest risk?

Select one of the following:

  • Single business

  • Unrelated diversification

  • Related diversification

Question 53 of 94

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Creative work environments have six components that encourage creativity. (select only the correct 6 components) :

Select one or more of the following:

  • Challenging work

  • Challenging management

  • Freedom

  • Ability to be unique

  • Work group encouragement

  • Supervisory encouragement

  • Lack of organizational impediments

  • Organizational encouragement

  • Individual encouragement

Question 54 of 94

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Resistance to change is caused by misunderstanding and distrust, and general intolerance for change and what else?

Select one of the following:

  • Lack of awareness

  • People who are afraid

  • Self-interest

  • People whoa are set in their ways

  • Cultures

Question 55 of 94

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Change forces include new technology, government regulation, strategic requirement, and what else?

Select one of the following:

  • Weather

  • Economy

  • Changing markets

  • Competitor action

  • Customers

Question 56 of 94

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Organizational process is the vertical/horizontal configuration of departments, authority, and jobs within a company while Organizational structure is the collection of activities that transforms inputs into outputs that customers value.

Select one of the following:

  • True
  • False

Question 57 of 94

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There are 5 areas of departmentalization. Which of the following includes all 5?

Select one of the following:

  • Customer, Functional, Competitor, Market, Product

  • Competitor, Geographic, Functional, Product, Market

  • Geographic, Functional, Customer, Matrix, Product

  • Functional, Product, Competitor, Matrix, Market

  • Product, Customer, Functional, Competitor, Geographic

Question 58 of 94

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Some advantages of matrix departmentalization include; allows companies to efficiently manage large, complex tasks, such as researching, developing, marketing pharmaceuticals. Efficiency comes from avoiding duplication and the ability to manage large, complex tasks. Matrix project managers have a more diverse set of expertise and experience at their disposal than managers in other forms of departmentalization.

Select one of the following:

  • True
  • False

Question 59 of 94

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Some disadvantages of functional departmentalization include; Cross-department coordination can be difficult. May lead to slower decision-making. Produces managers and workers with narrow experience and expertise

Select one of the following:

  • True
  • False

Question 60 of 94

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Matrix organizations violate which principle?

Select one of the following:

  • Span of responsibility

  • Chain of command

  • Individual manegement

  • Partnerships

Question 61 of 94

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Centralization is when significant authority is found in lower levels of the organization.

Select one of the following:

  • True
  • False

Question 62 of 94

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Decentralization is when significant authority is found in lower levels of the organization

Select one of the following:

  • True
  • False

Question 63 of 94

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Return on assets, return on investment, return on equity, and return on sales are all higher with centralization.

Select one of the following:

  • True
  • False

Question 64 of 94

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What does C-Type conflict stand for?

Select one of the following:

  • Consumer conflict

  • Competitive conflict

  • Cognitive conflict

  • Co operational conflict

Question 65 of 94

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What does A-Type conflict stand for?

Select one of the following:

  • Affective conflict

  • All around conflict

  • Alternative conflict

  • Apparition conflict

  • Aspirate conflict

Question 66 of 94

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What is the second stage of team development? (Hint: we also learned these in Project Management)

Select one of the following:

  • Forming

  • Norming

  • Adjourning

  • Storming

  • Performing

Question 67 of 94

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What is the last stage of team development?

Select one of the following:

  • Norming

  • Adjourning

  • Forming

  • Performing

  • Storming

Question 68 of 94

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BFOQ stands for Bona Fied Occupational Qualification

Select one of the following:

  • True
  • False

Question 69 of 94

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Cognitive tests are the best tests to do to help employers understand how you make decisions

Select one of the following:

  • True
  • False

Question 70 of 94

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Employment legislation is covered under provincial legislation.

Select one of the following:

  • True
  • False

Question 71 of 94

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The Workers Compensation Act is a provincial act that lays out safety standards in what province?

Select one of the following:

  • Manitoba

  • Ontario

  • Alberta

  • British Columbia

  • Quebec

  • Nova Scotia

Question 72 of 94

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Selection tests give organizational decision makers a chance to know who will, and won’t, likely do well in a job.

Select one of the following:

  • True
  • False

Question 73 of 94

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There are 6 types of selection tests that we talked about in class. Check all that apply.

Select one or more of the following:

  • Personality

  • Aptitude

  • Assessment centres

  • Work sample tests

  • Biographical data

  • Specific ability

  • General ability

  • Cognitive ability

Question 74 of 94

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Employment equity is the planning process used by an employer to eliminate barriers in an organization’s employment procedures and to ensure appropriate representation of specific members of the workforce known as the four designated groups (Select the four designated groups) :

Select one or more of the following:

  • Children

  • Women

  • Men

  • Aboriginal Peoples

  • Visible Minorities

  • Teens

  • Persons with disabilities

Question 75 of 94

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Diversity makes good business sense for the following reasons: Greater creativity and improved problem solving, better insight into the needs of a diverse customer/client base and enhanced ability to attract the best talent in a diverse labor market.

Select one of the following:

  • True
  • False

Question 76 of 94

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1 in 9 Canadians live with a mental disability .

Select one of the following:

  • True
  • False

Question 77 of 94

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Diversity training and practices that organizations use include: (Select all that apply)

Select one or more of the following:

  • Diversity analysis

  • Diversity audits

  • Skill-based diversity training

  • Personality-based diversity training

  • Awareness training

  • Diversity pairing

Question 78 of 94

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When it comes to motivation, there are three types of effort that are concerned with the choices that people make. What are the three types? (Select all that apply)

Select one or more of the following:

  • Individual

  • Direction

  • Group

  • Persistance

  • Initation

Question 79 of 94

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Which theory suggests that people are motivated by physiological (food/ water), safety (physical/ economic), belongingness (friendship, love, social interaction), esteem (achievement and recognition), and self-actualization (realizing full potential) needs.

Select one of the following:

  • Aldefer's ERG

  • McClelland's Learned Needs

  • Maslow's Heirarchy

Question 80 of 94

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Which of the following collapses Maslow’s five needs into three: existence (safety and physiological needs), relatedness (belongingness), and growth (esteem and self-actualization).

Select one of the following:

  • Maslow's Hierarchy

  • Aldferder's ERG

  • McClelland's Learned Needs

Question 81 of 94

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Motivating with the basics includes which of the following? (Select all that apply) :

Select one or more of the following:

  • Ask employees what their needs are

  • Expect people's needs to stay the same

  • Treat employees like your students

  • Expect peoples needs to change

  • Satisfy higher-order needs first

  • Create opportunities for employees to satisfy higher-order needs

  • Satisfy lower-order needs first

Question 82 of 94

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In terms of the fair decision making processes, what is the difference between distributive justice and procedural justice?

Select one of the following:

  • They are the same except that procedural justice is more structured.

  • Distributive justice is the degree to which outcomes and rewards are fairly distributed or allocated while procedural justice is the perceived fairness of the process used to make reward allocation decisions

  • Disruptive justice is the perceived fairness of the process used to make reward allocation decisions while procedural justice is the degree to which outcomes and rewards are fairly distributed or allocated

  • Procedural justice does not exists.

Question 83 of 94

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Reinforcement always deals with a consequence. If I did something good, I get something good. If I did a bad job I don’t get my something good. There is always a consequence or outcome when managing people and using this theory.

Select one of the following:

  • True
  • False

Question 84 of 94

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There are four components to the reinforcement theory, what are they? (Select all that apply) :

Select one or more of the following:

  • Punishment

  • Positive reinforcement

  • Extinction

  • Rewards

  • Negative reinforcement

Question 85 of 94

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Bureaucratic control is the use of hierarchical authority to influence employee behavior by rewarding or punishing employees for compliance or noncompliance with organizational policies, rules, and procedures

Select one of the following:

  • True
  • False

Question 86 of 94

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Leadership traits include: (Select all that apply)

Select one or more of the following:

  • Drive

  • Integrity

  • Self-confidence

  • Emotional-stability

  • Cognitive abilities

Question 87 of 94

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When should you use participative leadership?

Select one of the following:

  • Unstructured tasks

  • Complex tasks

  • Unchallenging taks

  • Structured tasks

Question 88 of 94

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When should you use supportive leadership?

Select one of the following:

  • Structured tasks

  • Unstructured tasks

  • Complex tasks

  • Unchallenging tasks

Question 89 of 94

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When should you use achievement oriented leadership?

Select one of the following:

  • Structured tasks

  • Unstructured tasks

  • Unchallenging tasks

  • Complex tasks

Question 90 of 94

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When should you use directive leadership?

Select one of the following:

  • Unstructured tasks

  • Complex tasks

  • Structured tasks

  • Unchallenging tasks

Question 91 of 94

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What are the five control methods? (Select all that apply) :

Select one or more of the following:

  • Normative

  • Formative

  • Concertive

  • Stormative

  • Bureaucratic

  • Self-control

  • Performative

  • Objective

Question 92 of 94

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What should we control? (select all that apply) :

Select one or more of the following:

  • Quality

  • Balanced scorecard

  • Budgets

  • Waste and pollution

  • Quantity

  • Management

  • Customer defections

Question 93 of 94

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Balanced scorecard is the measurement of organizational performance in four equally important areas: finances, customers, internal operations, and enviroment

Select one of the following:

  • True
  • False

Question 94 of 94

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We would all rather die than write this exam at 8am.

Select one of the following:

  • True
  • False
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Business Management Exam Review Quiz

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Quiz by , created over 1 year ago

Algonquin College's Business Management exam review

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