WorksheetsMGT 1104 Final Exam Review
Total questions: 40
Worksheet time: 20mins
A retailer introduces its own lower-priced brand of pantry items to compete with national brands. What strategy is this?
Co-branding
Private branding
Multibranding
Licensing
A manager compares actual results with performance goals and adjusts workflows to improve outcomes. What management function is being used?
Planning
Leading
Controlling
Staffing
When a nation exports more than it imports, it experiences what economic condition?
Trade deficit
Trade surplus
Budget surplus
Balance of payments neutral
A company launches its newest tablet at a high price to attract early adopters before later reducing the price. What pricing strategy is being used?
Penetration pricing
Price skimming
Dynamic pricing
Value pricing
A team that includes employees from marketing, finance, and HR working together on a project is what type of team?
Virtual team
Cross-functional team
Problem-solving team
Task force
A worker files a formal complaint because they believe the employer violated their labor contract. This is known as what?
Arbitration
Mediation
Grievance
Lockout
Interest calculated on both the initial principal and the previously earned interest is known as what?
Simple interest
Variable interest
Compound interest
Amortized interest
A company that uses separate brand names for different product lines is practicing what branding strategy?
Private branding
Multibranding
Family branding
Brand licensing
When the supply of a product is low and demand is high, what typically happens to price?
Price decreases
Price increases
Price remains stable
Price becomes unpredictable
A company raises hotel room prices during a major city event because demand is high. This pricing approach is an example of what?
Dynamic pricing
Prestige pricing
Loss leader pricing
Cost-based pricing
A business owned and operated by one person who has unlimited liability is known as what?
Sole proprietorship
Corporation
General partnership
Franchise
A company pays for the right to operate under another firm’s business model and trademarks. What market entry method is this?
Licensing
Exporting
Franchising
Offshoring
A leadership style where employees have freedom in how they complete tasks is known as what?
Autocratic leadership
Free-rein leadership
Transformational leadership
Democratic leadership
A company adds more tasks at the same difficulty level to reduce boredom for an employee. What job design method is this?
Job rotation
Job specialization
Job enrichment
Job enlargement
A third party who helps union and management negotiate but cannot impose a decision is acting as what?
Arbitrator
Mediator
Facilitator
Negotiator
A company divides customers based on age, family size, or income. What type of segmentation is this?
Psychographic
Behavioral
Demographic
Geographic
A report that shows revenues, expenses, and profit over a period of time is what financial statement?
Balance sheet
Cash flow statement
Income statement
Owner’s equity statement
A company sells shoes at a very low price to attract customers into the store, expecting them to buy additional items. This is what pricing tactic?
Loss leader pricing
Penetration pricing
Bundle pricing
Prestige pricing
A long sequence of tasks that determines how quickly a project can be completed is called what (hint: It's tracked on a PERT chart in manufacturing production)?
Efficiency chain
Task flow
Critical path
Resource route
A person who invests personal money into early-stage companies in exchange for equity is known as what?
Venture capitalist
Angel investor
Institutional investor
Partner investor
Ratios that measure a company's ability to pay short-term obligations belong to what category?
Profitability ratios
Liquidity ratios
Leverage ratios
Efficiency ratios
Selling goods below production cost in a foreign market to gain market share is known as what?
Dumping
Licensing
Franchising
Outsourcing
Providing employees greater responsibility, autonomy, and decision-making authority is known as what?
Job enrichment
Job rotation
Job enlargement
Job shifting
A performance evaluation that gathers feedback from supervisors, peers, and subordinates is what technique?
Graphic rating scale
Forced ranking
360-degree feedback
Behavior checklist
A company chooses suppliers based on environmental responsibility because it wants to support society. This demonstrates what?
Legal compliance
Corporate social responsibility
Buyer cooperation
Operational efficiency
A company is analyzing how effectively it generates profit from resources such as assets and equity. What ratio category is it reviewing?
Liquidity
Efficiency
Profitability
Leverage
A group of tasks performed at high volume, while still allowing customers to choose features, reflects what operations concept?
Lean manufacturing
Mass customization
Mass production
Flexible batching
Refusing to buy a company’s products to pressure management during a dispute is an example of what?
Strike
Boycott
Lockout
Walkout
Government uses taxation and spending to influence economic activity. This is what type of policy?
Monetary policy
Trade policy
Fiscal policy
Labor policy
A company launches a new streaming service at a very low price to quickly gain subscribers. This is what pricing strategy?
Price skimming
Penetration pricing
Dynamic pricing
Prestige pricing
When two companies combine and perform better together than separately, this benefit is called what?
Consolidation
Integration
Synergy
Reinforcement
Materials are delivered to a factory exactly when they are needed for production. This is what inventory method?
FIFO
Just-in-time
MRP
Batch processing
A company uses demographic, geographic, behavioral, and psychographic variables to divide potential buyers. This process is what?
Target marketing
Market segmentation
Value propositioning
Mass marketing
Looks at how much borrowing a company has done in order to finance the operations of the
business.
Efficiency ratios
Liquidity ratios
Debt ratios
Activity ratios
A neutral third party makes a binding decision to resolve a labor-management dispute. This process is called what?
Mediation
Arbitration
Intervention
Settlement review
A company markets a new energy drink to people who value active, adventurous lifestyles. What segmentation type is this?
Psychographic segmentation
Behavioral segmentation
Demographic segmentation
Geographic segmentation
A statement describing why an organization exists and what it aims to achieve is called what?
Mission statement
Strategic blueprint
Corporate charter
Organizational outline
Using personal or confidential company information for personal financial gain in stock trading is called what?
Insider trading
Market hedging
Financial arbitrage
Stock manipulation
Showing how revenues and expenses result in net profit is the purpose of what financial document?
Statement of cash flows
Balance sheet
Income statement
Retained earnings report
Adding more meaningful responsibility, decision-making freedom, and challenge to a job is known as what?
Job enrichment
Job expansion
Job rotation
Job broadening
