Business Essentials chapter 3

An example of performing business activities in an “out of the ordinary” way is when a business

• offers a new product in a popular product line.

• hires an outside firm to perform its marketing.

• begins long-term planning and organization.

• operates as the link between customers and products.

Which of the following demonstrates the interrelationship among primary business activities:

• A new product is introduced, so business advertisements must adjust.

• One business activity changes, so the others must adjust.

• A business changes its goals, so its strategies and tactics change, too.

• A business manager becomes vice president, so his/her department must adjust to the change.

For the long-term success of the business, Stacey’s Coffee House has decided to add a self-serve laundromat. Which of the following behaviors describes the business activity that Stacey’s Coffee House was likely engaged in before making this decision:

• Organizing itself for meeting its objectives

• Establishing a system for retrieving information

• Determining what will put it in reach of its goals

• Promoting its new service to potential customers

Which of the following behaviors demonstrates the primary business activity of strategic management:

• Recruiting appropriate employees

• Obtaining funds for business projects

• Regularly updating business processes

• Planning and organizing for the future

Financial analysis occurs when a business

• keeps accurate expense records.

• communicates with potential customers.

• effectively retrieves data.

• plans for long-term success.

A commission or bonus is an example of a form of

• compensation.

• assistance program.

• employee contract.

• benefit.

In what way might an HR manager be involved in employee benefits?

• Collecting insurance payments from employees

• Choosing an employee’s vacation days

• Selecting an employee’s personal plan options

• Determining eligibility and costs

After a company’s training needs are determined, what is the next step in training and development?

• Keeping records for personnel files

• Dismissing employees who are not up to standard

• Determining what training resources are available

• Managing employee performances

Which of the following is a compliance issue:

• Performance management

• Minimum wage

• Carpool organization

• Conflict mediation

Labor-union negotiations are part of which HR management activity?

• Staffing

• Training and development

• Employee relations

• Compensation and benefits