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WorksheetsManagement Final Review
Total questions: 50
Worksheet time: 50mins
What is a factor that a growing business might consider when determining hiring needs?
Customer qualifications
Employee to customer ratio
Bonuses that customers demand
Type of application required
Wanda feels uncomfortable discussing compensation with her employees,
so she tries to bring it up as infrequently as possible.
What is a possible consequence of doing so?
Wanda's relationships with her employees will improve.
Wanda will not have to raise her employees' wages.
Wanda's employees will talk to another manager about their pay instead of her.
Wanda's employees will come to inaccurate conclusions about their pay.
Which of the following is a main factor that businesses consider when staffing the company:
Orientation procedure
Employee compensation
Advancement opportunity
Performance evaluation
Which of the following is one way to make it easier to have conversations about employee compensation:
Keep conversations one-on-one.
Remove emotion from the conversation.
Use vague language rather than specific facts.
Have a set structure for raises and bonuses.
A job profile for an account manager includes the following sentence:
"The ideal candidate must be an excellent communicator."
This part of the job profile is focused on
(a)
A job description starts: "We are seeking a bright, talented self-starter with a salesman's mentality and 3-5 years of experience." What is a potential problem with this opening sentence?
It includes discriminatory language.
It uses overly technical language.
It does not include salary.
It sets too high expectations.
An important criterion to consider when identifying
market segments is the of the market.
(a)
Which of the following is a psychographic characteristic that
businesses often use to identify market segments:
Number of family members
Quality of health
Type of dining habits
Style of living
When the Green Company selected its target market, it decided to ignore the segment differences and generate appeal with one offer. The company is using marketing.
(a)
Businesses usually analyze market potential for a certain product by considering total demand in a specific
social situation.
research sample.
geographical area.
day of the week.
When analyzing market potential, a business must consider the market's interest level in the product and the market's
personal goals.
profitability standards.
competence and reliability.
ability to buy.
One way that a business can learn about its competitors' activities is by
developing product specifications.
reviewing secondary data.
identifying communication barriers.
evaluating Intranet efficiencies.
Which of the following is a true statement about project planning:
You should not involve others in the planning process.
Through project planning, you can evaluate what you have accomplished.
You should never develop a custom-made plan for your project.
With a project plan, you can mentally walk through your project from start to finish.
The final deliverable of your project is choosing a name for your company's new product. Which of the following tasks is most likely outside the project's scope:
Seeing how potential names look in different fonts
Conducting a focus group to test potential names
Generating potential names for future products
Brainstorming for names with members of the project team
What project-management activity involves determining when project tasks should be performed?
Coding
Evaluating
Scheduling
Processing
Many experts believe that providing too much detail in the work breakdown structure (WBS) work packages often causes the project manager to
develop a SWOT analysis.
micromanage the project.
allocate project resources.
simplify project deliverables.
Which of the following is an activity associated with the closing phase of a project:
Determining the appropriate computer technology needs
Developing a production schedule for team members
Obtaining funds, equipment, and supplies for the project
Holding a team meeting to evaluate the project's successes and mistakes
Which of the following is an activity that is conducted during the closing phase of a project:
Identifying stakeholders
Archiving documents
Obtaining resources
Determining deliverables
Why is it important for a business to identify its product's competitive advantage?
To plan a distribution system
To create a realistic trademark
To develop an appropriate marketing strategy
To evaluate the marketing research process
Which of the following is a situation indicating a problem with product durability:
A customer complains that her/his new cell-phone battery quit working after one week.
A customer complains to a restaurant server that his/her steak is too rare.
A customer returns a recently-purchased sweater because it is the wrong size.
A customer returns a software package because it does not work with her/his computer.
What is the focus of quality assurance?
Developing processes to prevent product defects
Obtaining customer feedback about product features
Keeping operations running smoothly
Identifying defects in new products
Setting the overall goals for a business, guiding the activities of the business, and keeping the business moving toward its goals are part of the role of
managers.
employees.
supervisors.
consultants.
A business manager who helps an employee decide when and where products should be delivered performs which management function?
Organizing
Controlling
Staffing
Directing
Which of the following is an example of a conflict of interest that might make it difficult for a manager to be ethical:
Working with people from different cultures
Organizing an event for all business employees
Making a decision about an employee who is a friend
Promoting an employee who has seniority
The function of managerial control involves comparing what was planned with the
established strategies.
actual results.
operating policies.
primary goals.
Which of the following is the first step in the control process:
Set performance standards
Compare performance to standards
Take corrective action
Measure performance
Which of the following statements is true regarding business plans:
A corporation is the only legal form of business ownership that should develop a business plan.
Lending institutions do not usually require loan applicants to submit a business plan.
The operating plan details information regarding the business's services.
Owners often use business plans as a tool to help them achieve their objectives.
In which section of the business plan would you find evidence of customer interest in a new product?
Product(s) offered
Appendices
Market analysis
Strategy and implementation
What is an example of a broad goal that management might develop for a business?
Hire an advertising agency
Replace damaged equipment
Reduce operating expenses
Conduct training programs
The XRT Company wants to increase its sales by 15%. Is this a SMART goal?
Yes. The goal is measurable.
Yes. The goal is relevant.
No. The goal is not time bound.
No. The goal is not attainable.
An effective mission statement should effectively reflect the business's
touch points.
specific goals.
core values.
ethics policies.
Which of the following is a tool that defines the business's purpose and guides its organizational decision-making:
Balance sheet
Mission statement
Program-of-work document
Mind map
A mission statement can be thought of as the of the business strategy.
(a)
Which of the following is an internal weakness that a business might detect by conducting a SWOT analysis:
Technological obsolescence
New competitors
Taxation rate
Economic trends
Axile Unlimited is the leader in its market, but two of its competitors just merged to form a larger company. Where would the competitors' merger fall in Axile's organizational SWOT?
Opportunities
Weaknesses
Strengths
Threats
Which of the following is a financial risk that managers of global businesses must be aware of:
The challenge of hiring the right employees
Political issues between countries
A lack of technology in developing markets
The impact of currency exchange rates
Which of the following is a problem associated with scientific management theory:
Workers might intentionally underperform so that their performance is evaluated against a low standard.
Workers get so absorbed in their work that they overlook timelines.
Workers have to be organized on the basis of shared values.
Workers must spread their efforts across too broad a range of tasks.
What management theory focuses on understanding employee motivation, conflict, expectations, and group dynamics?
Behavioral management theory
Contingency theory of management
Systems theory of management
Organization-environment theory
Which of the following statements describes how a human resources organizational plan benefits employees:
It grants them the authority to perform their jobs.
It helps them understand their roles within the company.
It lists their qualifications and work experience.
It illustrates how the company handles employee promotions.
Which of the following businesses is most likely to require a different management plan than the other businesses described:
A jewelry store selling fine watches and jewelry
A bookstore with one storefront
A small bakery making custom cakes
A clothing store franchise with 10 locations
What is the primary purpose of managerial planning?
To change processes
To evaluate forecasts
To implement activities
To prepare for the future
Serena is determining the specific activities needed to carry out a year-long advertising campaign. Serena is engaged in planning.
(a)
The owners of the IHM Company are determining if they should structure the new business by product line or by departmental functions. The owners are performing an activity associated with the management function.
(a)
An important aspect of the organizing function of management involves
establishing levels of authority.
conducting performance reviews.
promoting employees.
motivating team members.
Which of the following has a negative effect on an understaffed business:
Higher property taxes
Increased errors
Fewer premiums
Decreased turnover
Staffing is important because human resources are
extremely rare to find.
the organization's most valuable assets.
interchangeable.
indestructible.
A production supervisor provides a new line worker with information about how to assemble an item. What management function is the production supervisor performing?
Directing
Organizing
Staffing
Planning
A primary activity of the directing function of management is
evaluating performance.
initiating action.
establishing authority.
identifying skills.
Corporate social responsibility refers to a company's willingness to
earn profits for its shareholders.
follow corporate law that impacts society.
adopt practices that benefit society.
promote its views on social justice.
Liz has two employees that report to her. She is one of several managers with staffs of similar size. Liz's organization has a
hands-off approach.
narrow span of control.
flat structure.
wide span of control.
