Business Networking Quiz

If you owned a flower shop, what kinds of businesses would you network with?

• A pet store, a tire store, and a cell phone store

• A comic book shop, a seafood shop, and a greeting card shop

• A wedding chapel, a funeral home, and a hospital

• A high school, a nail salon, and a burger restaurant

What type of plan does HR assist in developing that deals with benefits and bonuses?

• Staffing plans

• Evaluation plans

• Compensation plans

• Promotion plans

In general, what is a business's most valuable resource?

• Money

• Tooling

• Buildings

• Employees

For a business to make a profit which of the following has to be true?

• Total revenues > Total expenses

• Total revenues < Total expenses

• Total revenues = Total expenses

A primary goal of quality assurance and control programs is to:

• Let customers know about the high quality

• Have the best product prices

• Make sure products meet the company standards

• Beat the competition's product quality

Which is the best definition of "marginal benefit"?

• The added benefit a person gets to their quality of life from buying one more product or service

• The added satisfaction or benefit a person gets from buying one more product or service

• The added satisfaction or benefit a person gets from a substitute product or service

You found a huge error in a report that is going to the president of the company shortly. You know who created the problem. What should you do?

• Ask your manager to solve the problem

• Solve the problem without assigning blame

• Report the person who caused the problem

• Determine the financial impact before taking action

Which is an advantage of a matrix organization?

• Can increase employee motivation and satisfaction

• Makes it harder to expand the organization

• Allows organizations to be more self-sustaining

• Provides more opportunities for advancement

Why is it important for entrepreneurs to identify customers' wants and needs as they plan their businesses?

• To create something no other business has ever created

• To tell their customers what they really want and need

• To better obtain start-up funding from an investor

• To understand how to make money fulfilling those wants and needs

An example of a long-term plan would be

• winning a sporting event

• doing inventory

• opening a new location

• none