Business Quiz 4

Carlpeters just opened a small restaurant. While he has had some customers in her restaurant, it is not enough to pay employees and make a profit. Most small businesses fail because of the same reason. Which of the following

is this an example of?

• Forecasting growth

• Hiring

• Employee turnover

• Inadequate cash flow

WHEN would a network design structure be MOST appropriate in a business model?

• When a sole proprietor is capable of meeting client needs with his garage manufacturing shop

• When the company needs to outsource certain aspects of distribution or production to meet a deadline

• When a salesperson hands off a valuable account to a new rep to get her established

• When a teacher calls in for a substitute teacher because she is exhausted from standardized testing

A manufacturing company needs components from 14 different vendors worldwide, and has 3 locations that make a portion of the product. They would benefit from what managerial technique?

• Relationship management

• IT management

• Supply chain management

• Financial management

Jaggernut Limited has recently introduced a new product Secret Sesame. Customers like Secret Sesame but the product has not seen significant sales. Which of the following is the next move the company

should make?

• Introduce an incentive program where after they buy three Secret Sesame 250g tins they get one free.

• Increase the price of Secret Sesame to change customer perception.

• Remove Secret Sesame from the menu right away.

• Try using a different flavor instead and offer free samples of that flavor

Mary's Mops wants to introduce a new mop that will clean floors in 25% less time. Her marketing team says that she should sell it for 15% above normal price. Based on marketing principles, why might they say this?

• New things always sell for a little more

• Perception of value is more important than price

• Price should be set based on the competitors prices

• They are using a very complex mathematical formula

The accounting cycle is a series of steps for the collection, processing, and reporting of financial transactions. What is the final step in the accounting cycle?

• Close accounts

• Prepare the financial statements

• Post-closing trial balance

• Adjusted trial balance

You are working on rewarding your employees. Your goal is to increase employee loyalty and reduce turnover. You decide to offer flexible schedules, have employees wear uniforms, have a VIP parking lot, give some free meals, and increase pay for all hourly workers. Which of the following have you developed?

• Penalties

• A performance appraisal

• Direct Compensation

• Indirect compensation

Which of the following is the primary goal of financial management?

• Analyzing the stock market

• Creating alpha returns

• Blending alpha and beta returns

• Increasing wealth

Phinoshey is the marketing director for Jaggernut Limited. What business technology would he use to help with his marketing?

• Social Media

• Proprietary software

• Search engine optimization

• Winner-take-most-market approach

Brian is going to a personal trainer. Brian's personal trainer is letting him be involved in some of the exercises that they are doing but in the end, the personal trainer can make the final decision. Which type of leadership style does the personal trainer use?

• Bureaucratic

• Participative

• Authoritative

• Situational