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Business Management Final Review

Total questions: 50

Worksheet time: 42mins

Name
Class
Date
1.

What is true about the planning management function?

a)

Should be realistic, comprehensive and flexible

b)

Planning is a One-Time Activity

c)

Planning Guarantees Success

d)

Only Upper Management is Involved in Planning

2.

Which of the following is NOT considered a primary function of management?

a)

Planning

b)

Organizing

c)

Marketing

d)

Controlling

3.

Which of the following is NOT considered a type of plan?

a)

Strategic Plan

b)

Operational Plan

c)

Tactical Plan

d)

Controlling Plan

4.
To be effective, managers need
a)
Technical skills
b)
Interperonal skills
c)
Conceptual Skills
d)
All of the above
5.

Question 11 (1 point)

What occurs in the planning function of management?

a)

Deciding what needs to be done and how it will be accomplished

b)

Coordinating all those involved to achieve the company of departmental goals

c)

Comparing what was planned with the actual performance

d)

Delegating duties to other employees in the company

6.

Which of the following management styles keeps the operation running smoothly rather than accomplishing other goals?

a)

Power-oriented

b)

Routine- oriented

c)

Achievement-oriented

d)

Micromanagement

7.

The employment process is carried out by which department?

a)

Marketing

b)

Distribution

c)

Management

d)

Human Resources

8.

Which of the following terms describes the ability to achieve a desired result without wasted energy or effort?

a)

Effectiveness

b)

Capability

c)

Sustainability

d)

Efficiency

9.
The primary reason individuals start a business.
a)
Scarcity
b)
Profit motives
c)
Competition
d)
Better Prices
10.

Which function of management requires an organization chart and sets up the framework needed for staffing

a)

staffing

b)

organizing

c)

leading

d)

Hiring

11.
When a business has made enough money to pay its costs and begin to make a profit, it has reached its
a)
break-even point
b)
variable-cost margin
c)
fixed cost
d)
selling price
12.
Owners of stocks are called what?
a)
Board of Directors
b)
President
c)
Shareholders
d)
Franchisor
13.

What is an advantage for centralized organizations?

a)

High cost

b)

Clear chain of command

c)

Increased administration

d)

delays in decision making

14.

What business type has full liability?

a)

Sole Proprietorship

b)

Partnership

c)

LLC

d)

Corporations

15.

Strategic planning is

a)

Long term planning

b)

Short term planning

c)

General Planning

d)

Seasonal Planning

16.

What is a business plan?

a)

A list of promotional ideas

b)

A document that defines a businesses strategies

c)

An estimation of the income and expenses of a business

d)

A calendar of activities for a business

17.

Operational planning is planning that is

a)

Long-term planning

b)

Short-term planning

c)

General planning

d)

Seasonal Planning

18.

The ability to assess and do tasks independently

a)

Positive attitude

b)

Networking

c)

Initiative

d)

Communication

19.

The ability to effectively relay information either by speech or typing

a)

Verbal Communication

b)

Attitude

c)

Tolerance

d)

Teamwork

20.

Being on time every day means to be

a)

punctual

b)

teamwork

c)

honesty

d)

initiative

21.

Working together on a common goal for the good of the company

a)

Time Management

b)

Teamwork

c)

Copyright

d)

Communication

22.

To tell the truth

a)

honesty

b)

time management

c)

punctual

d)

initiative

23.

Getting along with someone even when they don't believe the same things or are not like you is known as

a)

tolerance

b)

technology skills

c)

time management

d)

temporary

24.

Accepting responsibility for your actions is known as

a)

accountability

b)

determination

c)

work ethic

d)

tolerance

25.

Working hard to get the job done is known as

a)

work ethic

b)

compensation

c)

vernacular

d)

attitude

26.

Doing something that needs doing (like bell work or picking something up off the floor) without being told is showing

a)

accountability

b)

initiative

c)

tolerance

d)

creativity

27.

Listening is part of communication.

a)

True

b)

False

28.

To keep trying until you are successful is

a)

confidentiality

b)

perseverance

c)

communication

d)

nonverbal

29.

Jeremy wants to work for a company one day where he can lead large groups of people. What

should he do to start practicing this skill?

a)
Take on leadership roles in school or community organizations, volunteer to lead group projects, or start his own club or organization.
b)
Avoid group projects and only work independently
c)
Read books about leadership but not practice it
d)
Watch videos of people leading groups on YouTube
30.

Tristan prefers to work alone and does not like to share ideas with peers. Which

employability skill could Tristan work on to become a better student/employee? Select all that apply.

a)
Teamwork
b)
Communication
c)

Collaboration

d)
Creativity
31.

Being able to manage your time effectively to ensure tasks are completed is known as

a)

Time Management

b)

Empathy

c)

Flexibility

d)

Initiative

32.

In a workplace, what term is used to describe the inclusion of individuals of different races, genders, ages, and life experiences?

a)

Harmony

b)

Diversity

c)

Uniformity

d)

Conformity

33.

This occurs when manufacturers of goods pay to have their products included in movies and television programs:

a)

product placement

b)

telemarketing

34.

The inclusion of products in television programs and movies is

a)

on the decline in the United States and around the world.

b)

a growing industry worth billions of dollars in the United States.

35.

This candy was used in the movie E.T. after M&M’s refused to allow their product to be used. The competing brand saw sales jump 65% after being featured in E.T.

a)

Reese's Pieces

b)

Skittles

36.

This technique goes one step further than product placement by using computer technology to add products to scenes that were never there to begin with.

a)

Digital Product Placement

b)

Product Integration

37.

Occurs when the manufacturer of one product combines elements of another company’s product in their advertising. This advertising, while paid for by only one business, has a positive impact on both businesses.

a)

Cross-promotion

b)

Product Tie-In

38.

The concern that a business has about the consequences of its actions on others.

a)

Social Industrial Marketing

b)

Social Responsibility

39.

What is the PRIMARY benefit to entrepreneurs who practice social responsibility?

a)

Increases in the cost of sales.

b)

Recognition in the community and creating goodwill.

40.

This is the process of taking an object with one use and transforming it so that it can be used in an alternative way.

a)

Industrialization

b)

Repurposing

41.

The combination of the four basic marketing decisions - product, place, price, and promotion:

a)

marketing mix

b)

target marketing

42.
This is anything offered to a market by the business to satisfy needs, could include a physical good or an intangible service.
a)
product
b)
price
c)
place
d)
promotion
43.
The locations and methods used to make the product available to customers:
a)
product
b)
price
c)
place
d)
promotion
44.
This is the amount the customer will pay for the product. The value of money or its equivalent placed on a good or service.
a)
product
b)
price
c)
place
d)
promotion
45.
This is any form of communication a business or organization uses to inform, persuade, or remind consumers about its products or services.
a)
product
b)
price
c)
place
d)
promotion
46.

Shark Tank is a reality TV program that allows entrepreneurs to pitch their business ideas to a panel of venture capitalists. What is a venture capitalist?

a)

investor

b)

banker

47.

When an entrepreneur decides on a marketing strategy that emphasizes how inexpensive their product is when compared to other competing products:

a)

price competition

b)

non-price competition

48.

This is any form of paid, non-personal communication that uses mass media to deliver the entrepreneur’s message to an audience.

a)

Advertising

b)

Public Relations

49.

This is any non-paid communication about a product, service, company, or cause.

a)

Advertising

b)

Publicity

50.
The use of mobile devices for social media is also increasing dramatically.
a)
True
b)
False