Introduction to Business Final Exam Quiz

What are the THREE(3) types of business activities

• Financing, Marketing, Management

• Financing, Banking, Marketing

• Management, Marketing, Directing

• Marketing, Organizing, Promoting

Which one is part of the macroenvironmental forces

• Cultural, personal, competitive, and financial influences
• Geographical, historical, technological, and organizational influences
• Psychological, ethical, market, and competitive influences
• Political and Legal regulations, Economic, Sociocultural, Technology

Sources of Managerial Power consist of 5 types which are Legitimate Power, Coercive Power, Reward Power, Expert Power, Referent power. Which statement best describes Legitimate Power

• A leader has the power due to his ability to punish employees

• A leader has the power due to his ability to give or withhold reward

• A leader has power due to his position in the organization

• A leader has the power due to having certain skills or knowledge that is important to the company

What is the main definition of Expert Power in a managerial position?

• A leader has the power due to his ability to punish employees

• A leader has the power due to his ability to give or withhold reward

• A leader has power due to his position in the organization

• A leader has the power due to having certain skills or knowledge that is important to the company

What is the type of power when the leader has power based on their position within the organization?

• Legitimate Power

• Coercive Power

• Reward Power

• Expert Power

What is the main source of Coercive Power in a managerial position?

• A leader has the power due to his ability to punish employees

• A leader has the power due to his ability to give or withhold reward

• A leader has power due to his position in the organization

• A leader has the power due to having certain skills or knowledge that is important to the company

Maslow's Hierarchy of Needs is a theory that arranges the FIVE(5) basic needs of people. Which arrangement of needs starting from the lowest level to the highest level.

• Esteem needs > Social needs > Physiological needs > Self-actualization needs > Security needs

• 
  Social needs > Esteem needs > Physiological needs > Self-actualization needs > Security needs

• Physiological needs > Self-actualization needs > Security needs > Social needs > Esteem needs

• Self-actualization needs > Esteem needs > Social needs > Security needs > Physiological needs

• None of the above

Once their social needs have been satisfied, people attempt to satisfy their _________.

• Physiological needs

• Security needs

• Social needs

• Esteem needs

• Self-actualization

According to Maslow's Hierarchy of Needs, which need is considered the highest level need?

• Esteem needs

• Social needs

• Physiological needs

• Self-actualization needs

Identify common ethical issues that may arise in business.

i - Misuse of company resources

ii - Misuse of company time

iii - Bribery

iv - Conflict of interest

v - Treatment of employees

vi - Abusive (Rude)

• i, ii, iii, vi

• i, ii, iii, iv, v

• i, ii, iv, v, vi

• i, ii, iii, iv, vi