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WorksheetsBusiness Management Test - Semester Final
Total questions: 81
Worksheet time: 41mins
Name
Class
Date
1.
57. Advantages of an aging population include all of the following (check all that apply)
a)
Less training needed
b)
They make fewer mistakes
c)
Proven experience
d)
Less likely to embrace technology
2.
58. Disadvantages of an aging population include all of the following (check all that apply)
a)
Higher salaries
b)
More responsible attitude
c)
Lack of flexibility (fixed in their own way of working)
d)
Less likely to embrace technology
3.
62. People typically leave a job due to: (check all that apply)
a)
lack of respect
b)
lack of appreciation
c)
lack of tacos
d)
I lack an answer.
4.
89. What questions should people think through before they start advertising?
a)
Will your target customers see it?
b)
Will it be effective?
c)
Will it fit your brand?
d)
Can you afford it?
e)
Is Broadway an appropriate location?
5.
92. News papers are great for (select all that apply)
a)
reaching a local audience
b)
reaching an older audience
c)
reaching teenagers
d)
including coupons
6.
3. These plans are typically drawn up by low-level managers (usually supervisors) who are very familiar with the actual day-to-day workings of the business.
a)
Strategic
b)
Tactical
c)
Operational
7.
4. These plans are usually laid out by mid-level managers.
a)
Strategic
b)
Tactical
c)
Operational
8.
5. These plans are usually created by top-level managers with a big-picture view of what needs to be done and the general way in which it will be accomplished.
a)
Strategic
b)
Tactical
c)
Operational
9.
6. If Darth Vader were a business manager, he would use which leadership style?
a)
Authoritarian
b)
Democratic
c)
Delegating
10.
7. Leaders seek input from their employees using which leadership style?
a)
Authoritarian
b)
Democratic
c)
Delegating
11.
8. When a leader gives their employees complete freedom to decide what tasks need to be done and how to do them, they are using this leadership style.
a)
I truly don't care...I just want a taco.
b)
Authoritarian
c)
Democratic
d)
Delegating
12.
12. Without planning, a business will not have direction.
a)
True
b)
False
13.
13. Although all emergencies can not be prevented, planning helps a business prepare by putting preventions in place and determining what will be done in the event that an emergency does occur.
a)
True
b)
False
14.
16. If you want to obtain a business loan, which of the following should you do?
a)
Conduct a SWOT Analysis
b)
Set goals for the business
c)
Write a business plan
d)
Develop well-written policies
15.
17. It is easier to complete activities on time if you develop a schedule before you begin.
a)
True
b)
False
16.
18. Procedures are written to control employees.
a)
True
b)
False
17.
19. Members of a target market have similar wants and needs.
a)
True
b)
False
18.
20. Which of the following explains who the customer is (information such as age, gender, location, education level, income level, race, employment, etc.)?
a)
Psychographic information
b)
Demographic information
c)
Target market segment
d)
All of the answers are correct
19.
22. Psychographics shows what a person loves, what they like to do, and the features that might make them buy.
a)
True
b)
False
20.
23. Why not just use demographics to analyze your market?
a)
It’s too limited.
b)
It’s just data.
c)
It doesn’t convey the deeper motivations, interests, attitudes, and personality of the customer.
d)
all of the answers are correct
e)
none of the answers are correct
21.
24. Tim is the technology manager for the MSJ Company. Tim is responsible for backing up the computer system each evening to make sure that the company has a copy of each day's computer activities and transactions. On Tuesday evening, Tim was running late for a meeting and decided not to conduct the backup activities. Later that night, the computer system crashed and all of Tuesday's computer data was lost. Which of the following practices/policies did Tim fail to follow?
a)
standards
b)
planning
c)
procedures
d)
all of the answers are correct
22.
25. An important aspect of managing work commitments is
a)
focusing on unimportant details.
b)
planning ahead
c)
organizing others' activities
d)
scheduling activities close together
23.
26. A simple definition of a leader is someone who
a)
is ready to take action at a moment’s notice.
b)
has the ability to guide or direct the actions of others.
c)
can recognize a bad situation and alert others.
d)
lives by a moral and ethical code.
24.
27. How much people believe what you say and are willing to follow you depends on your
a)
emotional intelligence.
b)
credibility.
c)
self-confidence.
d)
responsibility.
25.
28. Leaders who share a belief in justice, a desire to do the right thing, and an awareness of the rights of other people can be said to have
a)
competence.
b)
emotional intelligence.
c)
integrity.
d)
credibility.
26.
29. Which of the following is a characteristic of a self-confident leader:
a)
S/He is truly invested in the work team.
b)
S/He has the ability to share a vision.
c)
S/He demonstrates empathy.
d)
S/He is decisive, even in uncertain circumstances.
27.
30. If a leader takes ownership of a problem, makes sure it is fixed, and takes steps to prevent it from happening again, s/he is demonstrating
a)
flexibility.
b)
adaptability.
c)
responsibility.
d)
social awareness.
28.
31. A leader with emotional intelligence is good at managing
a)
feelings.
b)
money.
c)
raw materials.
d)
facilities.
29.
32. Frank has a good understanding of his own emotions. What component of emotional intelligence does Frank demonstrate?
a)
Self-awareness
b)
Self-management
c)
Social awareness
d)
Social management
30.
33. Stacie doesn’t give in to her impulses of anxiety or anger; instead, she directs and controls her emotions effectively. What component of emotional intelligence does Stacie demonstrate?
a)
Self-awareness
b)
Self-management
c)
Social awareness
d)
Social management
31.
34. Cameron demonstrates empathy toward others on his work team—in other words, he strives to relate to them. What component of emotional intelligence does Cameron demonstrate?
a)
Self-awareness
b)
Self-management
c)
Social awareness
d)
Social management
32.
35. Communicating effectively, showing a sense of teamwork, and being a good negotiator are all ways to demonstrate which component of emotional intelligence:
a)
Self-awareness
b)
Self-management
c)
Social awareness
d)
Social management
33.
36. A willingness to learn, to change, and to take occasional risks all refer to a leader with
a)
credibility.
b)
flexibility.
c)
a passion for work and people.
d)
business knowledge.
34.
37. Alyssa strives to come up with unique ideas, approaches, and solutions for her work group. What leadership characteristic does she demonstrate?
a)
Integrity
b)
Passion for people
c)
Authenticity
d)
Creativity
35.
40. Which of the following is an example of a measurable goal:
a)
“I will write 1,000 words by the end of the day.”
b)
“I will become a professional pilot.”
c)
“I will earn a raise.”
d)
“I will help my work team members succeed.”
36.
41. Attainable goals are those that can be
a)
reached.
b)
timed.
c)
measured.
d)
pinpointed.
37.
42. Which of the following is an example of a time-bounded goal:
a)
“I will become the company’s top salesperson.”
b)
“I will earn $100,000 a year by age 35.”
c)
“I will pursue a career helping to preserve the environment.”
d)
“I will make 40 sales calls.”
38.
43. Which of the following is a benefit of goal setting:
a)
Ensuring you accomplish all your goals
b)
Distracting you from your target
c)
Impressing other people with your goals
d)
Providing a way to measure your progress
39.
44. Which of the following is a benefit of writing down your goal:
a)
Sequencing smaller subgoals
b)
Changing your goal when necessary
c)
Picturing what it would be like to reach your goal
d)
Clarifying the goal in your own mind
40.
45. Conducting a SWOT analysis is the first step in which process?
a)
Strategic planning
b)
Risk management
c)
Business organization
d)
Fundraising
41.
46. A good reputation among current clients is a(n)
a)
strength.
b)
weakness.
c)
opportunity.
d)
threat.
42.
47. New competition moving into your area is a(n)
a)
strength.
b)
weakness.
c)
opportunity.
d)
threat.
43.
48. A new customer moving into your area is a(n)
a)
strength
b)
weakness
c)
opportunity
d)
threat
44.
49. A lack of equipment or technology is primarily a(n)
a)
strength
b)
weakness
c)
opportunity
d)
threat
45.
50. It is important to communicate the vision, mission, and purpose of your business to potential customers. In doing so, you should start with
a)
what we do.
b)
how we do what we do.
c)
why we do what we do.
d)
who cares...just give me a taco.
46.
51. The people who work to produce goods and services are known as
a)
management
b)
leadership
c)
human resources
d)
capital
47.
52. Which of the following statements about Human Resources is not true?
a)
it’s not only a function, but a department as well
b)
large companies have large HR departments; small companies may complete this function in other ways
c)
the function exists regardless of a business’ size
d)
they have the sole authority to determine how interviews will be conducted
e)
the job of managing a business’s human resources gets bigger as the company grows
48.
54. Human resource planning aims to get the right number of people with the right skills & experience in the right jobs at the right time at the right cost.
a)
true
b)
false
49.
55. Plentiful, skilled labor creates upward pressure on wage rates and salaries for positions.
a)
true
b)
false
50.
56. When skilled labor is in scarce supply, wage rates and salaries will have to be increased
to attract workers away from competitors or other industries.
a)
true
b)
false
51.
59. High turnover typically means that a business is able to find a lot of good candidates.
a)
true
b)
false
52.
60. Which of the following is true when it comes to interviewing for new employees
a)
You should put them on the spot so you can see how they respond to pressure.
b)
You should put the candidate in situations where they are more likely to show their true selves.
c)
You should never make small talk with your potential new employees as this will minimize the importance of th interview process.
d)
Every employee who may work with the candidate should be in on the interview.
53.
63. Bad hires hurt morale because
a)
they usually sabotage the workplace before leaving
b)
the employees who remain may eventually doubt the competency of company management
c)
just because they do
d)
I don't know, but I'd really like a taco right now
54.
64. What is the 10% rule?
a)
candidates will never ask for more than 10% over the starting salary
b)
10% of interview candidates are not seriously seeking a job
c)
candidates expect a pay increase of at least 10% when they change jobs
d)
10% of interview candidates are going through the process for practice
55.
65. Why are ethics especially important to those who work in finance?
a)
Ethics prevent companies from ever losing money.
b)
People who work in finance are naturally unethical.
c)
Ethics challenge companies to reduce operating expenses.
d)
Unethical behavior in finance leads to catastrophic results.
56.
66. When unethical decisions come from the top of an organization, it is difficult to go against them. This is an example of
a)
short-term gratification
b)
sunk costs
c)
obedience to authority
d)
overoptimism and overconfidence
57.
67. The tendency to behave in the same way that everyone else does is __________, whereas __________ occurs when people make decisions together in a way that discourages individual responsibility or creativity.
a)
conformity; groupthink
b)
groupthink; incrementalism
c)
conformity; framing
d)
framing; incrementalism
58.
68. When Penny started her job, she believed that lying was completely wrong. However, after two years, she has started to exaggerate financial projections and now believes that lies are only wrong when they cause direct harm. This is an example of
a)
self-interest
b)
obedience to authority
c)
conformity
d)
incrementalism
59.
69. Nico knows he would never do anything unethical, but he is sure that all of his coworkers are tempted at one point or another. Nico is demonstrating
a)
overoptimism and overconfidence
b)
short-term gratification
c)
framing
d)
loss aversion
60.
70. It is difficult to make decisions that can cause you harm, which is why financial professionals often act unethically due to
a)
loss aversion
b)
self-interest
c)
conformity
d)
sunk costs
61.
71. The tendency to respond to situations depending on how those situations are posed or viewed is known as
a)
groupthink
b)
framing
c)
obedience to authority
d)
overoptimism and overconfidence
62.
72. Rita knows she will get a bonus if she pushes for her company to go through with a merger, but she knows that in the long term, this merger might threaten her job. If Rita supports the merger, she is likely motivated by
a)
sunk costs
b)
overoptimism and overconfidence
c)
short-term gratification
d)
incrementalism
63.
73. Collin’s company just broke ground on a new plant, but after analyzing economic trends, Collin knows that they will likely lose money on the investment. He tries to convince himself and others that the plant will be profitable anyway. This demonstrates the effects of
a)
sunk costs
b)
conformity
c)
self-interest
d)
obedience to authority
64.
74. Which of the following is an example of loss aversion:
a)
Agreeing with what everyone else is saying
b)
Making a decision that benefits your own interests
c)
Justifying money that has already been spent
d)
Covering up decisions that cost you money
65.
75. Ethical principles can help people who work in finance to
a)
generate large revenues
b)
protect their own interests
c)
avoid unethical pitfalls
d)
avoid being caught acting unethically
66.
76. Which of the following is an ethical principle that gives finance professionals the ability to make judgments without favoritism or self-interest?
a)
Competence
b)
Fairness
c)
Transparency
d)
Rule of law
67.
77. Dean always keeps financial information private and secret unless absolutely necessary. He is practicing
a)
competence
b)
self-regulation
c)
diligence
d)
confidentiality
68.
78. Which of the following is an example of rationalization that might be used in finance:
a)
“I’m not sure this is the right decision.”
b)
“My colleagues seem more prepared than I do.”
c)
“Everyone else is doing it.”
d)
“I don’t care what anyone thinks.”
69.
79. Angelica has determined that many of her colleagues are acting unethically. Whom should she talk to first?
a)
Her supervisor
b)
The colleagues involved
c)
Top company executives
d)
The authorities
70.
80. What does it mean to play the devil’s advocate?
a)
Being highly critical of everything that others say
b)
Always recommending the unethical course of action
c)
Staying quiet during discussions or arguments
d)
Arguing against a position to validate that position
71.
81. Evelyn tried to talk to Lin about his unethical behavior, but Lin brushed her off. What should Evelyn do?
a)
Take her concerns to a higher-level executive
b)
Ignore Lin’s behavior until someone else notices
c)
Gossip about Lin’s actions with other colleagues
d)
Tell the media about her ethical concerns
72.
85. Which of the following is the basic calculation used to analyze an income statement:
a)
Revenue plus sales
b)
Income minus expenses
c)
Assets minus liabilities
d)
Sales plus operating costs
73.
90. A disadvantage of billboards is that it only has 5-10 seconds to make an impression.
a)
False
b)
True
74.
91. The cost of a billboard is based on its
a)
color
b)
effectiveness
c)
location
d)
I don't know.
75.
93. A digital lighted board in Times Square (New York City) that promotes a local business is an
example of
a)
a transit ad
b)
social media
c)
an outdoor ad
d)
a smart promotional plan for small businesses
76.
94. Social media advertising is usually free.
a)
True
b)
False
77.
95. The active process of shaping the perceptions that consumers have about your company is known as
a)
a promotional mix.
b)
advertising.
c)
branding.
d)
brain-washing.
78.
96. If you pay for, or provide products/services for, a community event, the promotion is known as
a)
philanthropy.
b)
sponsorship.
c)
multi-media advertising.
d)
none of the answers are correct.
79.
97. Television ads are always a good choice.
a)
True
b)
False
80.
98. Most people listen to the radio late at night, therefore that is the best time to run your radio spot.
a)
True
b)
False
81.
99. While direct mail can be seen as "junk mail", and it has a high cost, it can still have a high return on investment.
a)
True
b)
False
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