Business Management Exam Review Quiz

emily_hill
Quiz by , created over 4 years ago

Algonquin College's Business Management exam review

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emily_hill
Created by emily_hill over 4 years ago
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Question 1

Question
Management is made up of efficiency and effort. MGMT = E2
Answer
  • True
  • False

Question 2

Question
What are the four core functions of management? Select the four that are correct.
Answer
  • Planning
  • Functioning
  • Managing
  • Organizing
  • Controlling
  • Team Work
  • Leading

Question 3

Question
Character of rivalry is apart of the five industry forces according to Porter.
Answer
  • True
  • False

Question 4

Question
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.
Answer
  • True
  • False

Question 5

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

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

Question
If a team is being micro managed, it empowers them to work.
Answer
  • True
  • False

Question 8

Question
You should use a team if there is a large or complex project.
Answer
  • True
  • False

Question 9

Question
Goals and missions must be clear when using a team to minimize conflict.
Answer
  • True
  • False

Question 10

Question
Teams should be used when rewards can be provided for individual effort and performance.
Answer
  • True
  • False

Question 11

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

Question 12

Question
Middle managers are the ones that make things happen.
Answer
  • True
  • False

Question 13

Question
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?
Answer
  • Threat of new entrants
  • External environments
  • Poor management skills
  • Resource Scarcity
  • Risk of failure

Question 14

Question
What affects environmental uncertainty?
Answer
  • 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

Question
Environmental uncertainty is highest when environmental change/complexity is extensive and resources are scarce.
Answer
  • True
  • False

Question 16

Question
Environmental uncertainty is highest when environmental change/complexity is not extensive and resources are scarce.
Answer
  • True
  • False

Question 17

Question
Using this real-life example, identify which changing environment category it belongs to (Check all that apply) : - $1.83 billion Target takeover of Zellers
Answer
  • Environmental Change
  • Environmental Complexity
  • Resource Scarcity

Question 18

Question
Using this real-life example, identify which changing environment category it belongs to (Check all that apply) : - Flooding in Australia and Pakistan
Answer
  • Environmental Changes
  • Environmental Complexity
  • Resource Scarcity

Question 19

Question
Using this real-life example, identify which changing environment category it belongs to (Check all that apply) : - QR codes
Answer
  • Environmental Change
  • Environmental Complexity
  • Resource Scarcity

Question 20

Question
The two types of external environments are general and uncertain.
Answer
  • True
  • False

Question 21

Question
Specific environment includes which of the following? (Check all that apply) :
Answer
  • Customers
  • Industry Regulation
  • Competitors
  • Advocacy Groups
  • Suppliers

Question 22

Question
Economic, technological, sociocultural, and political/legal trends indirectly affect organizations. This statement reflects what type of external environment?
Answer
  • General
  • Specific
  • Uncertain

Question 23

Question
Business confidence indices show how confident actual managers are about past business growth.
Answer
  • True
  • False

Question 24

Question
Raw materials and information + knowledge, tools, techniques = products/services.
Answer
  • True
  • False

Question 25

Question
Inputs + environment = outputs
Answer
  • True
  • False

Question 26

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

Question 27

Question
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.
Answer
  • True
  • False

Question 28

Question
Reactive customer monitoring is identifying/addressing customer trends and problems while they occur.
Answer
  • True
  • False

Question 29

Question
Proactive monitoring of customers is when managers see events, trends, and problems directly after they occur.
Answer
  • True
  • False

Question 30

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

Question 31

Question
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) :
Answer
  • 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

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

Question
What is the first objective of ethics training?
Answer
  • Achieves credibility with employees
  • Teaches a practical model of ethical decision making
  • Develops employee awareness of ethics

Question 34

Question
What is the third objective of ethics training?
Answer
  • Achieves credibility with employees
  • Teaches a practical model of ethical decision making
  • Develops employee awareness of ethics

Question 35

Question
What is the second objective of ethics training?
Answer
  • Achieves credibility with employees
  • Teaches a practical model of ethical decision making
  • Develops employee awareness of ethics

Question 36

Question
What is the fourth objective of ethics training?
Answer
  • 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

Question
In the basic model of ethical decision making the second step is identify the constituents.
Answer
  • True
  • False

Question 38

Question
In the basic model of ethical decision making the fifth step is act.
Answer
  • True
  • False

Question 39

Question
In the basic model of ethical decision making the fourth step is analyze your options.
Answer
  • True
  • False

Question 40

Question
In the basic model of ethical decision making the third step is diagnose the situation.
Answer
  • True
  • False

Question 41

Question
In the basic model of ethical decision making the seventh step is identify the constituents.
Answer
  • True
  • False

Question 42

Question
What are the THREE pitfalls of planning? (Check all that apply) :
Answer
  • Impede change
  • There are four pitfalls of planning
  • Lack of communication
  • Detachment of planners
  • False sense of certainity
  • Underestimation

Question 43

Question
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
Answer
  • True
  • False

Question 44

Question
When planning from top to bottom, what are the three plans that first-level managers focus on? (Check all that apply) :
Answer
  • Tactical Plans
  • Standing Plans
  • Single-use Plans
  • Marketing Plans
  • Operational Plans

Question 45

Question
When planning from top to bottom, what do top managers focus on?
Answer
  • Tactical Plans
  • Managing
  • Goals
  • Mission
  • Vision

Question 46

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

Question 47

Question
MBO stands for Management by operations.
Answer
  • True
  • False

Question 48

Question
There are two types of operational plans.
Answer
  • True
  • False

Question 49

Question
There are three types of operational plans, from the following list, select the three. (Check all that apply) :
Answer
  • Organizational Plans
  • Single-use Plans
  • Marketing Plans
  • Standing Plans
  • Human Resources
  • Budgets

Question 50

Question
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.
Answer
  • True
  • False

Question 51

Question
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.
Answer
  • True
  • False

Question 52

Question
When it comes to the relationship between diversification and risk, which of the following has the highest risk?
Answer
  • Single business
  • Unrelated diversification
  • Related diversification

Question 53

Question
Creative work environments have six components that encourage creativity. (select only the correct 6 components) :
Answer
  • Challenging work
  • Challenging management
  • Freedom
  • Ability to be unique
  • Work group encouragement
  • Supervisory encouragement
  • Lack of organizational impediments
  • Organizational encouragement
  • Individual encouragement

Question 54

Question
Resistance to change is caused by misunderstanding and distrust, and general intolerance for change and what else?
Answer
  • Lack of awareness
  • People who are afraid
  • Self-interest
  • People whoa are set in their ways
  • Cultures

Question 55

Question
Change forces include new technology, government regulation, strategic requirement, and what else?
Answer
  • Weather
  • Economy
  • Changing markets
  • Competitor action
  • Customers

Question 56

Question
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.
Answer
  • True
  • False

Question 57

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

Question
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.
Answer
  • True
  • False

Question 59

Question
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
Answer
  • True
  • False

Question 60

Question
Matrix organizations violate which principle?
Answer
  • Span of responsibility
  • Chain of command
  • Individual manegement
  • Partnerships

Question 61

Question
Centralization is when significant authority is found in lower levels of the organization.
Answer
  • True
  • False

Question 62

Question
Decentralization is when significant authority is found in lower levels of the organization
Answer
  • True
  • False

Question 63

Question
Return on assets, return on investment, return on equity, and return on sales are all higher with centralization.
Answer
  • True
  • False

Question 64

Question
What does C-Type conflict stand for?
Answer
  • Consumer conflict
  • Competitive conflict
  • Cognitive conflict
  • Co operational conflict

Question 65

Question
What does A-Type conflict stand for?
Answer
  • Affective conflict
  • All around conflict
  • Alternative conflict
  • Apparition conflict
  • Aspirate conflict

Question 66

Question
What is the second stage of team development? (Hint: we also learned these in Project Management)
Answer
  • Forming
  • Norming
  • Adjourning
  • Storming
  • Performing

Question 67

Question
What is the last stage of team development?
Answer
  • Norming
  • Adjourning
  • Forming
  • Performing
  • Storming

Question 68

Question
BFOQ stands for Bona Fied Occupational Qualification
Answer
  • True
  • False

Question 69

Question
Cognitive tests are the best tests to do to help employers understand how you make decisions
Answer
  • True
  • False

Question 70

Question
Employment legislation is covered under provincial legislation.
Answer
  • True
  • False

Question 71

Question
The Workers Compensation Act is a provincial act that lays out safety standards in what province?
Answer
  • Manitoba
  • Ontario
  • Alberta
  • British Columbia
  • Quebec
  • Nova Scotia

Question 72

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

Question 73

Question
There are 6 types of selection tests that we talked about in class. Check all that apply.
Answer
  • Personality
  • Aptitude
  • Assessment centres
  • Work sample tests
  • Biographical data
  • Specific ability
  • General ability
  • Cognitive ability

Question 74

Question
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) :
Answer
  • Children
  • Women
  • Men
  • Aboriginal Peoples
  • Visible Minorities
  • Teens
  • Persons with disabilities

Question 75

Question
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.
Answer
  • True
  • False

Question 76

Question
1 in 9 Canadians live with a mental disability .
Answer
  • True
  • False

Question 77

Question
Diversity training and practices that organizations use include: (Select all that apply)
Answer
  • Diversity analysis
  • Diversity audits
  • Skill-based diversity training
  • Personality-based diversity training
  • Awareness training
  • Diversity pairing

Question 78

Question
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)
Answer
  • Individual
  • Direction
  • Group
  • Persistance
  • Initation

Question 79

Question
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.
Answer
  • Aldefer's ERG
  • McClelland's Learned Needs
  • Maslow's Heirarchy

Question 80

Question
Which of the following collapses Maslow’s five needs into three: existence (safety and physiological needs), relatedness (belongingness), and growth (esteem and self-actualization).
Answer
  • Maslow's Hierarchy
  • Aldferder's ERG
  • McClelland's Learned Needs

Question 81

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

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

Question
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.
Answer
  • True
  • False

Question 84

Question
There are four components to the reinforcement theory, what are they? (Select all that apply) :
Answer
  • Punishment
  • Positive reinforcement
  • Extinction
  • Rewards
  • Negative reinforcement

Question 85

Question
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
Answer
  • True
  • False

Question 86

Question
Leadership traits include: (Select all that apply)
Answer
  • Drive
  • Integrity
  • Self-confidence
  • Emotional-stability
  • Cognitive abilities

Question 87

Question
When should you use participative leadership?
Answer
  • Unstructured tasks
  • Complex tasks
  • Unchallenging taks
  • Structured tasks

Question 88

Question
When should you use supportive leadership?
Answer
  • Structured tasks
  • Unstructured tasks
  • Complex tasks
  • Unchallenging tasks

Question 89

Question
When should you use achievement oriented leadership?
Answer
  • Structured tasks
  • Unstructured tasks
  • Unchallenging tasks
  • Complex tasks

Question 90

Question
When should you use directive leadership?
Answer
  • Unstructured tasks
  • Complex tasks
  • Structured tasks
  • Unchallenging tasks

Question 91

Question
What are the five control methods? (Select all that apply) :
Answer
  • Normative
  • Formative
  • Concertive
  • Stormative
  • Bureaucratic
  • Self-control
  • Performative
  • Objective

Question 92

Question
What should we control? (select all that apply) :
Answer
  • Quality
  • Balanced scorecard
  • Budgets
  • Waste and pollution
  • Quantity
  • Management
  • Customer defections

Question 93

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

Question 94

Question
We would all rather die than write this exam at 8am.
Answer
  • True
  • False