EOPA Prep 2

1.         When government sets safety standards for the workplace, it is attempting to

• control business

• minimize risks to employees

• prohibit excess standards

• modernize working environments

Answer explanation

Government's primary concern is the safety of the worker in the workplace. It would be next to impossible to set a safety rule to cover all possible events, but minimizing risks for the worker is a possibility. It is not government's intent to control businesses or business practices. Setting safety standards does not imply that government prohibits excess standards. There is no maximum number of standards that could be set. In setting safety standards, government does not address updating or modernizing work environments. The goal is to make the workplace safe, not more pleasing or attractive.

1.         Collin is an introvert, so his supervisor specifically calls on him to ask for his input in meetings. His ideas are always thoughtful and reflective. Collin's supervisor is

• leveraging his personality type

• challenging him to leave his comfort zone

• asking him to demonstrate self-control

• taking his feedback into account

Answer explanation

Successful business leaders understand and acknowledge employees' personality differences. These personality traits can be leveraged to enhance business situations. For example, Collin is an introvert, which indicates that he thinks things through and reflects before speaking. It also indicates that he might be unlikely to speak up in a meeting. By specifically giving Collin an opportunity to share his ideas, Collin's supervisor is leveraging his personality type to generate success. Collin's supervisor is not necessarily challenging him to leave his comfort zone, asking him to demonstrate self-control, or taking his feedback into account.

Which of the following is an example of a potential cost

• the cost of capital investment

• the cost of installation

• the cost of utilities

• the cost of project failure

Answer explanation

The cost of project failure. Potential costs are the hidden costs that managers must think through when conducting a cost-benefit analysis—the costs of what could happen such as project failure. Installation and capital investment are one-time costs. Utilities are a recurring cost.

Which of the following is a requirement for an effective negotiation

• impatience

• mutual respect

• inflexibility

• undefined goals

Answer explanation

Mutual respect. It's important for all parties in a negotiation to show respect. Negotiators may not agree with what the other party says, but being rude, dismissive, or pushy won't help the negotiation. Instead, negotiators should be informed, objective, and thoughtful. It's also important for negotiators to be patient, flexible, and aware of their strategy and goals. Impatience, inflexibility, and a lack of awareness of one's goals are likely to harm the outcome of a negotiation.

Troy just accepted a job transfer. As a result, he'll be starting a new job soon in another state. What type of situation requiring adaptability is he facing?

• emergency

• resource issue

• unfamiliar conditions

• personal interacion

Answer explanation

Unfamiliar conditions and situations can be either expected or unforeseen. Troy can certainly plan for his new job and move, but it will still be somewhat unfamiliar to him, and he'll have to adapt to his new circumstances. Troy's situation would not be considered a resource issue, emergency, or personal interaction.

A CEO wants to create a company culture that values learning and cooperation. The CEO should

• replace current employees with friends

• share best practices with the staff

• set high sales quotas to motivate employees

• use a functional organizational structure

Answer explanation

Sharing best practices means maintaining and disseminating the actions and strategies that have been most successful for an organization. It helps organizations grow, and it encourages employees to value learning and cooperate with one another to achieve results.

Replacing current employees with friends, setting high sales quotas, and using a functional organizational structure would not necessarily help the CEO create a company culture that values learning and cooperation.CECEO

The entrepreneurial discovery process requires knowledge and the recognition of a(n)

• economic crisis

• preventable accident

• market need

• creative obervation

Answer explanation

A market need occurs when demand for a product is not met. Entrepreneurial discovery is the process of detecting and matching product and market opportunities with one another in a manner that satisfies the market and the business. For example, there may be a demand for a medication to treat an illness, but because the illness is a new strain, no medication is available. Therefore, a market need exists, and the scientist uses their knowledge to invent a medication to treat the illness. Entrepreneurial discovery does not require a preventable accident, economic crisis, or creative observation to begin the process.

Which of the following actions by a manager would most likely contribute to a positive work environment

• allowing employees to eat at desks

• fostering hypercompetitiveness

• giving prizes for most hours worked

• engaging in meaningful dialogue

Answer explanation

Open communication is an important part of maintaining a positive work environment. Managers that engage in meaningful dialogue with their employees are fostering a positive workplace culture and saying to their team members, "You are worth my time." Fostering hypercompetitiveness and giving prizes for most hours worked may promote a culture of individualism rather than a culture of teamwork and mutual respect. Allowing employees to eat at their desks may make certain employees happy, but it would not necessarily contribute to a positive work environment. Rather, requiring employees to eat in a shared space during meals would foster greater communication and comradery.

Which of the following processes helps aspiring entrepreneurs generate venture ideas

• financial planning

• decision-making

• goal setting

• creative thinking

Answer explanation

The creative-thinking process is a method for encouraging your own creativity, which enables one to generate unique ideas, approaches, and solutions. An entrepreneur is a person who starts and assumes the risk for a business. Before an entrepreneur can start a venture, they must generate an idea for the business, which is done by thinking creatively. The entrepreneur must generate venture ideas before they can make decisions, set goals, and plan finances for the venture.

Which of the following is a result of an achievement orientation

• less risk-taking

• lower standards

• continuous improvement

• automatic raises and promotions

Answer explanation

Continuous improvement is a result of an achievement orientation. This may refer to products, procedures, ideas, or the work environment in general. Achievement orientation results in higher standards, not lower standards. Achievement orientation also results in moderate risk-taking. Havinganachievementorientationdoesnotmeanyouwillautomaticallyreceiveraisesorpromotions.