Fundamentals of Management & Marketing
| Question 1 of 20 | 5.0 Points |
The primary purpose of the management process is to:
| A. develop organizational goals and make logical decisions. | ||
| B. organize the various functions in a logical manner. | ||
| C. ensure that all employees are working together effectively. | ||
| D. achieve organizational goals efficiently and effectively. |
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| Question 2 of 20 | 5.0 Points |
Achieving organizational goals efficiently and effectively:
| A. is necessary for making logical decisions. | ||
| B. is the primary purpose of the management process. | ||
| C. ensures that all employees will work together effectively. | ||
| D. rarely occurs in private sector organizations. |
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| Question 3 of 20 | 5.0 Points |
Based on customer surveys, a manager recognizes that satisfaction is lower than expected. He then calls customers to uncover the source of their dissatisfaction. This represents which function of management?
| A. Planning | ||
| B. Communication | ||
| C. Leading | ||
| D. Controlling |
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| Question 4 of 20 | 5.0 Points |
How do top managers spend most of their time?
| A. Overseeing day-to-day operations | ||
| B. Routine administrative tasks | ||
| C. Implementing plans of first-line managers | ||
| D. Making decisions and creating goals |
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| Question 5 of 20 | 5.0 Points |
Dale is Superintendent of Dexter High School. His job requirements are not associated with any particular management specialty. Dale would be working in what functional area?
| A. Operations | ||
| B. Finance | ||
| C. Production | ||
| D. Administration |
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| Question 6 of 20 | 5.0 Points |
__________ skills are needed for specialized tasks within the organization.
| A. Human | ||
| B. Organizational | ||
| C. Conceptual | ||
| D. Technical |
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| Question 7 of 20 | 5.0 Points |
Which managerial skill is likely to be especially important to managers who occupy roles such as disturbance handler, negotiator, and resource allocator?
| A. Conceptual | ||
| B. Technical | ||
| C. Interpersonal | ||
| D. Analytic |
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| Question 8 of 20 | 5.0 Points |
The ability to prioritize work, to work efficiently and to delegate appropriately is a(n) __________ skill.
| A. technical | ||
| B. time-management | ||
| C. conceptual | ||
| D. operational |
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| Question 9 of 20 | 5.0 Points |
The classical management perspective consists of:
| A. scientific management and administrative management. | ||
| B. management science and scientific management. | ||
| C. behavioral management and the operations management. | ||
| D. contemporary management and behavioral management. |
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| Question 10 of 20 | 5.0 Points |
The profits or losses generated by a firm are examples of which aspect of systems theory?
| A. Outputs | ||
| B. Feedback loops | ||
| C. Transformation processes | ||
| D. Inputs |
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| Question 11 of 20 | 5.0 Points |
The __________ environment of a business that manufactures top-of-the-line cabinets includes computer-assisted design software that helps to convert wood and people's ideas into lovely, functional cabinets.
| A. legal | ||
| B. sociocultural | ||
| C. technological | ||
| D. political |
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| Question 12 of 20 | 5.0 Points |
BMW and Mercedes are best described as:
| A. strategic allies. | ||
| B. competitors. | ||
| C. customers. | ||
| D. regulators. |
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| Question 13 of 20 | 5.0 Points |
Which of the following is part of the internal environment of organizations?
| A. Employees | ||
| B. Regulators | ||
| C. Influence groups | ||
| D. Customers |
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| Question 14 of 20 | 5.0 Points |
An organization's obligation to protect and enhance the society in which it operates is called:
| A. legal responsibility. | ||
| B. ethical responsibility. | ||
| C. social responsibility. | ||
| D. cultural responsibility. |
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| Question 15 of 20 | 5.0 Points |
Clothing made in Sri Lanka and sold in the U.S. is an example of:
| A. importing/exporting. | ||
| B. licensing. | ||
| C. a joint venture/strategic alliance. | ||
| D. direct investment. |
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| Question 16 of 20 | 5.0 Points |
When Honda is allowed to import only 425,000 automobiles into the United States each year by the U.S. government, this is an example of a(n):
| A. quota. | ||
| B. strategic alliance. | ||
| C. joint venture. | ||
| D. franchise agreement. |
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| Question 17 of 20 | 5.0 Points |
Which of the following represents an economic community?
| A. European Union (EU) | ||
| B. North Atlantic Treaty Organization (NATO) | ||
| C. United Nations (UN) | ||
| D. International Monetary Fund (IMF) |
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| Question 18 of 20 | 5.0 Points |
U S cola producers voluntarily limit the number of beverages that they export to India each year. This is an example of:
| A. an export restraint agreement. | ||
| B. direct investment. | ||
| C. a strategic alliance. | ||
| D. a licensing agreement. |
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| Question 19 of 20 | 5.0 Points |
France charges taxes on American fruits and vegetables that are sold in France. This is:
| A. a joint venture. | ||
| B. licensing. | ||
| C. an export tariff. | ||
| D. an import tariff. |
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| Question 20 of 20 | 5.0 Points |
General Mills and Nestlé established Cereal Partners Worldwide to better compete with Kellogg in Europe. This is an example of:
| A. global sourcing. | ||
| B. a licensing agreement. | ||
| C. an export restraint agreement. | ||
| D. a joint venture. |
Goals set with and by lower-level managers are called:
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When Proctor and Gamble compares its capabilities against competitors to find out whether the firm possesses any unique strengths, the firm is determining:
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Strategic goals are set by:
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Which of the following outlines the organization's purpose, assumptions, values, and direction?
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The component of strategy that indicates how the organization intends to allocate resources is:
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Coca-Cola's success in global marketing is the result of its distribution system and its marketing communications, which are two of the company's:
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There are a lot of companies that make decorative items for the home. Franklin Mint makes decorative gift items that it sells as collectibles. For instance, each decorator plate that it markets is given a number, and only a finite quantity of each plate is manufactured. By use of a(n) __________ strategy, Franklin Mint distinguishes itself from other companies that make decorative items for the home.
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__________ is a useful framework for managers to use as they plot business strategy over time.
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Tide laundry detergent, manufactured by Proctor & Gamble, is the number-one selling detergent in the United States, although sales volume has been flat for years. In the U.S., in what stage of the product life is Tide laundry detergent?
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Which of the following is an advantage of unrelated diversification?
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Decisions by managers of Time Warner to sell off Warner Music Group's DVD and CD manufacturing, printing, packaging, physical distribution, and merchandising business was an example of a(n) __________ decision.
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“Decision making under risk” means the decision maker:
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Bar code scanning computers at checkout have greatly simplified the inventory __________ decisions.
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Suppose that a bank manager is trying to decrease turnover of his employees. He wants to develop as many possible courses of action as he can. At what stage of the rational decision-making process is this bank manager?
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In the classical decision-making model, “optimization” means:
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When a plant manager is attempting to find a site for a new plant and selects the first site that he finds that meets the basic requirements for price, utilities, and transportation, which decision-making strategy is this plant manager utilizing?
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One advantage of group decision making is:
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A very strong-willed manager, when involved in a group decision, is often able to persuade the rest of the group to do what works best for him. Which disadvantage of group decision making is this group experiencing?
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When a plant manager who is trying to reduce turnover of production workers notices that turnover has decreased by 10 percent four months after he instituted a new training program, at which step in the rational decision-making process is this manager?
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Bounded rationality is assumed in:
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The starting point for all job design activities is determining the level of desired job:
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An assembly operation includes four different jobs. Bob spends three weeks on each of these jobs and then starts the cycle over again with the first job of the operation. This is an example of job:
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Which of the following alternatives to specialization gives individual workers more to do and keeps each worker on the same job all the time without giving more authority over and responsibility for the work?
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According to the job characteristics approach, when task significance is high, workers:
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Dell Computer Corporation sells virtually the same personal computers through any one of its three divisions: Personal, Business, and Education. This represents which type of departmentalization?
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__________ is defined as clear and distinct lines of authority among all positions in an organization.
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A wide span of management results in:
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An organization where power and control are kept at the top levels of management is:
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The process of linking together the activities of the various parts of an organization to promote harmonious movement toward organizational goals is called:
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Which of the following is characteristic of the U-form design?
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According to the Lewin model, the first step in change is called __________; in this step, individuals who will be affected by the impending change must be led to recognize why the impending change is necessary.
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The manager's role as monitor is essential to which step in the comprehensive approach to change?
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Studies of the organization change process found that participation:
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In most change situations there are factors that will make the job of change more difficult and others that seem to ease the change process. The process by which the manager identifies and then eliminates as many of the forces against change as possible is called:
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When organizational change involves planned alteration of the work processes or work activities the change primarily involves the area of: Â
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Reengineering is needed when an organization:
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When organization development consultants observe the communication patterns and methods of cooperation and conflict resolution in an organization they are using the intervention technique called:
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The first stage of the organizational innovation process is:
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When a large business attempts to revitalize its entrepreneurial spirit through the employment of creative individuals, this is called:
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A(n) __________ is usually a middle manager who learns about a new product or service idea and becomes committed to it. This manager helps the inventor overcome resistance to change and convinces others to take the innovation seriously.
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Those activities directed at attracting, developing, and maintaining an effective workforce are called:
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If an organization refuses to hire women as welders, this is an example of:
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If an organization uses an employment test that whites pass at a higher rate than African Americans, this is an example of:
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The Age Discrimination in Employment Act forbids discrimination against workers above which of the following ages?
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Which of the following requires that women and men be paid the same amount for doing the same jobs, assuming their qualifications and experience are equal?
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The systematic collection and recording of information about jobs in the organization is known as:
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Forecasting personnel needs and availability and setting up programs to match the two are the specific parts of human resource:
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Which of the following would probably have the highest content validity?
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Scrap rate, dollar volume of sales, and number of claims processed are all examples of:
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When a manager is evaluated by his or her superiors, peers, and subordinates, this is known as:
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In human resource management terminology, the incentive pay an employee receives is referred to as:
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The major difference between wages and salary is:
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The term that refers to a company's wages in comparison with those of other companies is:
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An organization is considered diverse when:
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A cafeteria benefits plan consists of:
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Which of the following is a discussion process between union and management that focuses on agreeing to a written contract that will cover all relevant aspects of their relationship?
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The means by which a labor agreement is enforced is the:
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Spouses of military members used to complain they could not find jobs because they moved every three years with the military. But with the increased demand for __________ some organizations value the ability to make a relatively short-term commitment by hiring them.
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The process of determining the relative value of jobs within the organization is known as:
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Parking lot attendants for a major corporation earn less than executive vice presidents at the same corporation. This is an example of:
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If you accept a position with an organization that promises you advancement opportunities, the organization is providing:
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A person's range of interests is captured in the personality trait of:
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A supervisor who experiments with new ideas, takes a chance with new products, and leads his or her department in new directions has high:
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If you admire your CEO but find out there were questionable accounting practices under his watch, you might blame only the CFO because of:
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The extent to which others in the same situation behave in the same way is known as:
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Which of the following statements BEST describes the general relationship between stress and performance?
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__________ thinking allows people to see similarities between situations or events.
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Unions usually bargain for retirement packages and good medical plans. Recently they have negotiated for advance notice of plant closings. What need level from Maslow's hierarchy do these demands represent?
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The theory that assumes that people make choices from among alternative plans of behavior based on their perceptions of the relationship between a given behavior and desired outcomes is __________ theory.
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What is the most important idea for managers to remember from equity theory?
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Sexual harassment policies and laws spell out the consequences for violation of the rules. What kind of reinforcement procedure is this?
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Which of the following reinforcement schedules offers a worker the least incentive to do good work?
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If a credit-card company that hires telemarketers to call prospective customers to try to sell them on a new credit card gives these telemarketers a $2.00 bonus for every fourth application the company receives from their phone solicitation this is an example of which type of reinforcement schedule?
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Which of the following programs applies the concepts of reinforcement theory?
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A supervisor's use of coercion also involves the:
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What approach to identifying a leader are you using if you vote for a politician based on his or her communication skills, intelligence, education, and assertiveness?
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Which of the following is a situational leadership model?
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__________ leadership is a contemporary perspective that focuses on a leader's personality and ability to inspire loyalty and enthusiasm.
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As more companies become multinational corporations the need for __________ leadership has increased.
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In deciding which Vroom decision tree to use, the leader must consider __________ and the significance of the decision.
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Sales forecasting, economic forecasting, and environmental analysis are examples of the control of:
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Equipment control is an important aspect of which area of control?
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When classifying controls on the basis of the resources involved, we find that one class of resources is related to the control of all other resource classes as well. Which resource class overlaps all other classes?
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A company that carefully evaluates job applicants is using __________ control.
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What type of control is exercised when assembly line workers check their work as they assemble the components?
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Which of the following is a characteristic of screening controls?
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Which of the following financial documents shows a listing of all the organization's assets and liabilities at a given point in time?
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The ratios that assess the ease with which the assets of the organization can be converted into cash are:
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The purpose of bureaucratic control is to:
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Organizations make the decision to have a centralized or decentralized international control system when they are addressing issues of __________ control.
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An organization that transforms resources into an intangible output in order to create time or place utility for its customers is known as a(n) __________ company.
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Which of the following decisions is likely to be the decision starting point occurring before the other decisions?
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__________ is the process of managing operations control, resource acquisition and purchasing, and inventory to improve overall efficiency and effectiveness.
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Which of the eight dimensions of quality refers to a measure of product life?
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The probability that a DVD player will eject the disk when you push the eject button is an example of which dimension of quality?
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The starting point for instituting an organizational quality program is:
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Statistical quality control (SQC) is:
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The International Organization for Standardization requires firms to document the impact of operations on the environment. The standards are called ISO:
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When an organization produces 100 units of output for 10 hours of direct labor, what is its labor productivity index?
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The type of statistical quality control that involves testing products as they are being made is known as:
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The basic difference between a good and a service is a good:
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Delivering the value proposition is also known as:
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Which of the following is a core aspect of marketing?
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Every Christmas season, Anheuser-Busch runs television ads featuring Clydesdale horses in a winter scene. These ads focus on the promotional goal of __________ consumers about the company's brand.
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The traditional marketing channel through which consumers find and purchase goods and services is known as:
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UPS provides many services beyond package delivery including insurance, supply chain management, e-commerce, and financing. In the process UPS is building:
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Which of the following represents a way to build a sustainable competitive advantage using product excellence?
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Product excellence occurs through:
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When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?
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After developing a mission statement, a firm or organization next must perform:
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The first objective in the evaluate performance phase of the marketing planning process is to:
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E-books, in addition to being an alternative product form, provide __________ value creation through access via the Internet.
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The four Ps comprise the __________, which is the controllable set of activities that the firm uses to respond to the wants of its target markets.
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When referring to "exchange," marketers are focusing on:
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__________ is communication by a marketer that informs, persuades, and reminds potential customers.
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Customer excellence, which can be developed through a strong brand, unique merchandise or superior customer service, results in:
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In value-based marketing, promotion communicates the:
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Which of the following is LEAST likely to be a sustainable competitive advantage?
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Even when big-box discount retailers enter a market, some small, local retailers survive and prosper. These retailers have developed a(n) __________ generating long-term profitability.
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Of the five steps to the strategic marketing planning process, which step usually comes in the MIDDLE of the process?
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Deceptive advertising and promotion of inferior products are examples of __________ ethical issues.
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The AMA Code of Ethics does not specifically address issues in regard to:
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Firms with strong ethical climates tend to:
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Being socially responsible is generally considered:
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Many corporations are shifting from defined benefit to defined contribution retirement programs. When considering changes to retirement programs, companies should consider the ethical issues primarily affecting:
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During which phase of the strategic marketing plan would the firm address the question of, "Should the firm be relocating its production to another country?"
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During which phase of the strategic marketing plan would the firm address the question of, "Did our actions have a negative impact on any stakeholder group?"
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The Ethical Decision-Making Matrix II:
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The centerpiece of the Marketing Environment Analysis Framework is:
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One of the goals of value-based marketing is to provide greater value to consumers:
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The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment is:
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__________ include dress, symbols, ceremonies and language differences.
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In New England foot-long sandwiches are called "grinders" while in many other parts of the country they are called "subs." This is an example of a:
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Compared to other groups, the __________ generational cohort is the fastest growing segment of Internet users using e-mail and shopping, investing and banking.
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__________ tend to be individualistic, value leisure time as a high priority, may be a little careless about how the spend their money, and have an obsession with maintaining their youth.
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When inflation increases, marketers need to be concerned about economic impacts including:
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The many demands on consumers today have made it more difficult for marketers to:
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Improved computer storage capabilities, and the manipulation of consumer information has increased consumers':
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Compared to consumers in the United States, Europeans are:
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Marketers of cars, appliances, and copiers recognize women:
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Consumers frequently use the Internet during the __________ stage of the consumer decision process.
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André was afraid his condominium would look shabby to his future in-laws, so he had it painted just before their visit. André was addressing his __________ risk.
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Consumers consider universal, retrieval, and evoked sets during the __________ stage of the consumer decision process.
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How a product is presented can influence the decision-making process. Along with brand and price, this is known as:
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A __________ is a need or want that is strong enough to cause the person to seek satisfaction.
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Among the factor affecting the consumer decision-making process is/are __________, the way consumers spend their time and money to live
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Many Hollywood movie stars were among the first to buy electric and hybrid vehicles. These stars often became __________, influencing other consumers' behavior.
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In most countries, __________ tends to be one of the largest purchasers of goods and services.
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After need recognition, a business considers alternatives and comes up with __________ that suppliers might use to develop their proposals to supply the product.
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At many universities, education faculty members were among the first to ask for personal computers. These education faculty were __________ in the buying center.
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The size and composition of a business buying center will likely vary depending upon:
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Most B2B buying situations can be categorized as new buys, modified rebuys, and:
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The WTO provides all of the following functions EXCEPT:
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__________ is international trade of goods and services without using currency.
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The __________ represents the highest level of integration among participating nations, involving both economic and monetary agreements.
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NAFTA, like other free trade agreements, is limited to trade-related issues such as:
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When assessing __________, a firm will consider its access to capital, current markets, manufacturing capacity, and proprietary assets.
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Many of the best-known American retailers, like KFC and McDonalds, have expanded globally using:
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Language, customs, culture, and literacy levels significantly affect global __________ strategies.
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Limited problem solving usually relies on:
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The first step in the segmentation process is to:
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Because marketing is all about creating value for customers, dividing the market based on __________ segmentation can be quite useful.
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Chain stores often use __________ data to identify other locations with similar demographics and purchasing behavior.
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For a segmentation strategy to be successful, the customers in the segment must react similarly and positively to the firm's marketing mix. The market segment must be:
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Market growth, market competitiveness, and market access are all elements the marketer will use when assessing __________ of each potential market segment.
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__________ involves defining the firm's marketing mix variables so that target customers have a clear, distinctive, and desirable understanding of the firm's offerings relative to competitors' offerings.
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A __________ is often used to illustrate the position of a firm's products or brands in consumers' minds.
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Despite the short-term success of Tiffany & Co.'s effort to gain new customers for life, the appeal to younger less affluent customers alienated the older, more affluent customer base. Tiffany & Co. chose to reconnect with its traditional customer bases and began the difficult task of:
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Paul subscribes to an Internet service that alerts him whenever other firms in his industry are quoted in the media. Paul is using this type of market research primarily to:
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The difference between an MkIS and a market research study is, an MkIS:
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From charitable giving to medical records to Internet tracking, consumers are more anxious than ever about:
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The Marketing Research Process follows five steps, and researchers:
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The first question a market researcher should ask when considering a research study is:
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Market researchers can skip some steps in the process, but the research should always begin with:
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The objectives of a research project define the type of data needed and:
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Company sales invoices, Census data, and trade association statistics are examples of:
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There are many important marketing research uses for internal data. If detailed customer information is kept over a period of time, the company may be able to construct an important measure of a customer's profitability known as:
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Caroline needs to find information about income and age distribution in Orange County, California. The best source of secondary research of use to Caroline is likely to be:
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Observation, in-depth interviews, and focus groups are all __________ research methods.
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__________ research is a type of quantitative research that manipulates variables to help determine cause and effect.
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Consumers judge the benefits the product delivers against the __________ necessary to obtain it.
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If a marketer prices their product too low, it may:
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Using "keystoning" as a pricing strategy:
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Which of the following is NOT one of the Five C's of pricing?
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When the media and messages in a promotional campaign are not aligned with the company strategies or when the channels are not appropriate for the selected price levels, it indicates something is wrong with:
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Naomi tells her sales representatives the goal is to generate at least a 20 percent return on investment for all of the industrial building supplies they sell. Naomi is using a __________ pricing strategy.
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A __________ strategy involves accurately measuring all the factors needed to predict sales and profits at various price levels.
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The fact that millions of consumers are using online search engines for comparison shopping has:
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A demand curve shows the relationship between __________ in a period of time.
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Price elasticity of demand is the ratio of:
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The more substitutes that exist in a market:
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At the break-even point:
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The break-even point is estimated by:
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If a 1 percent decrease in price results in more than a 1 percent increase in quantity demand, demand is:
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__________ is an attempt by a manufacturer, vendor or supplier to set a minimum possible price, to control the image of the product or dictate the price, which amounts to a legal form of what would otherwise be price fixing.
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In addition to knowing more about the products, services, manufacturers and retailers Internet users know more about prices. These consumers are becoming more:
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For marketers to advertise a price as their __________, the Better Business Bureau recommends that at least 50 percent of the sales of a product occur at that price.
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__________ pricing tactics lower the price of a product below cost.
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__________ is the practice of colluding with other firms to control prices.
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Labor, materials, and energy are typically __________ costs.
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Supply chain management systems include manufacturers, warehouses, stores, and:
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__________ is an element of supply chain management that concentrates on the movement and control of the physical products.
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Manufacturers use wholesalers and retailers because:
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In the 1990s before the widespread use of the Internet, the typical, well-organized order-to-delivery process included order creation using a telephone, fax or mail, order processing, credit authorization and warehousing and deliver often took:
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Ticketing and marking refers to:
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Typically, manufacturers and retailers exchange business documents through a(n) __________ system.
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CPFR refers to __________ inventory management systems.
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__________ can improve supply chain efficiency by allowing manufacturers to sell on consignment, which shifts the cost of maintaining inventory from the retailer to the manufacturer, and shifting the time of sales personnel from writing orders to selling new items and developing relationships
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In a(n) __________ supply chain, none of the participants has any control over the others.
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There are a number of different kinds of supply chains, but when there is a great deal of volume and a powerful channel participant, you are likely to find a(n) __________ supply chain.
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Today, __________ dominate their supply chains.
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Generally, the larger and more sophisticated the channel member, the less likely that they will:
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__________ are combating competitive pressures by offering fresh food and healthy fast food, tailoring assortments to local marketing, opening locations closer to where consumers work and shop, and adding new services.
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Category killers are also known as:
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Consumers visiting __________ often comment that they feel like they are on a treasure hunt, searching for a bargain.
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Retailers use __________ to get customers into their stores.
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For brick-and-mortar retailers, a key ingredient to place decisions is:
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Benefits of __________ as a channel include matching or exceeding the convenience of catalogs, providing a great deal of information about products, and collecting information about how customers shop.
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__________ communities are networks of social shoppers who see an enhanced emotional connection with other participants during an Internet shopping experience.
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__________ provide a consistent experience for on-line customers who cannot touch and feel merchandise prior to purchasing it.
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