Business Management Review 4-6

A business that wants to maintain positive, long-term relationships with its vendors should:

• share relevant information.
• automate ordering processes.

A business orders 10% more widgets than it needs because the supply of and the demand for widgets have been difficult to forecast in recent months. This is an example of a business ordering _______________inventory.

• customary
• buffer

Jana has a meeting with her boss for two hours at 10:00 a.m. on Mondaymorning and is leading a video conference at 4:30 p.m. that afternoon.Susan, a potential investor, calls Jana early Monday morning and saysthat she will be flying in from Portland Monday morning at 11:30 a.m.After she picks up her rental car, Susan wants to meet with Jana early Monday afternoon. Jana knows that meetings with her boss tend to last longer than expected, and that Susan will have a 45-minute drive from the airport to her office. The investor could really help the company, so Jana feels that it is important to meet with Susan. What should Jana tell this important potential investor about meeting on Monday afternoon?

• Suggest that they meet for lunch at 1:15 p.m. at a restaurant locatedbetween the airport and her office.
• Advise Susan that she can meet her in the airport lounge at 3:15 p.m.

One aspect of managing the bid process in purchasing involves:

• targeting customers.
• developing specifications.

A business’s human resources department is responsible for coordinating the ________________ for employees.

• performance evaluations
• purchase orders

To maintain a hazard-free work environment, local regulations might require businesses to undergo:

• safety inspections.
• accounting audits.

When a human resources department uses interactive computer simulations to help employees learn how to do their jobs, it is using technology for _____________________ purposes.

• evaluation
• training

Which is a situation that demonstrates the use of technology to recruit employees?

• A human resources manager prints review forms from a computer  printer.
• The TRN Company posts its current job openings on its website.

It is important for a business to evaluate the financial condition of a potential vendor during the vendor-selection process to assess the:

• risk levels of doing business with the vendor.
• vendor’s levels of customer service

What is an important question that a manager must consider when hiring a new employee?

• “How will the company compensate this worker?”
• “How should the workload be distributed?”