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QUESTION

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1. Managers tend to have a short-term perspective (daily operations), leaders tend to have a long-term perspective (stratigic goals 2-5 years). (Points : 2)       True

      False

Question 2. 2. Match the appropriate business form to the legal/tax implications. This is the least regulated form of business ownership. Control and liability lies with the proprietor. (Points : 2)       LLC

      S Corporation

      501-C3 Non-Profit Corporation

      C Corporation

      Partnership

      Sole Proprietorship

Question 3. 3. Which business form has the greater liability? (Points : 2)       Sole proprietorship

      a Corporation

      a  501C3

Question 4. 4. What does “Place” mean in the 4 P’s of the marketing mix? (Points : 2)       Place refers to distribution, inventory and assortment

      Place refers to customer location.

      Place refers to the product or service “place” in the pricing structure.

      Place refers to the transportation used to convey the product or service.

Question 5. 5. There is one leadership style as a "best" leadership style for all situations and employees. (Points : 2)       True

      False

Question 6. 6. Maslow’s Hierarchy of Needs specifies that this stage of  the hierarchy reflects humans greatest need: (Points : 2)       self-esteem

      self-awareness

      safety needs

      self-actualization

Question 7. 7. ADA law requires businesses hiring for a position if they find a qualified disabled candidate to: (Points : 2)       Only disqualify them if the applicant cannot “get around” as quickly as an able bodied candidate.

      Hire them if you can make reasonable accommodations for the applicant.

      Only consider them for hiring if the company has fewer than 10 people.

Question 8. 8. In this product life cycle stage, the competition becomes more fierce. (Points : 2)       Introduction

      growth

      maturity

      decline

Question 9. 9. Which of these are the 4 P’S of the Marketing Mix? (Points : 2)       Participation, Privatization, Principles and Planning

      Promotion, Participation, Production and Pricing

      Product, Price, Promotion and Place

      Payment, Placement, Production and Planning

Question 10. 10. When manufacturers aggressively trying to convince wholesalers, who in turn convinces retailers to carry their products is considered what type of marketing strategy? (Points : 2)       trade-off strategy

      push strategy

      pull strategy

      personal selling strategy

Question 11. 11. Reward involves the legitimate authority someone has to control others and resources based on their title/position in the company (Points : 2)       True

      False

Question 12. 12. What does the “C” in the POLC model stand for and what does it include? (Points : 2)       Control refers to the control of the production process involved in generating a  product or service.

      Control refers to controlling unforeseen circumstances in marketing.

      Control of costs and expenses as well as policies and systems.  d. Control of customer service problems generated in doing business.

Question 13. 13. The most notable provision of this corporation is that it serves as a conduit for its net income, passing all of its profits or losses through to the individual shareholders, which means that its income is taxed only once at the individual tax rate. (Points : 2)       C Corporation

      S Corporation

      501-C3 Non-Profit Corporation

      LLC

      Partnership

      Sole Proprietorship

Question 14. 14. Effective managers define __________ as the process of influencing others to achieve group or organizational goals. (Points : 2)       management

      leadership

      interpersonal influence

      supervision

Question 15. 15. Coercive is defined as an employee acts out of fear of repercussions if they do not comply. (Points : 2)       True

      False

Question 16. 16. States recognize this partial liability form like a corporation has pass-through taxation benefits but allows for different types of members including other corporations. For tax purposes, the Federal government does not recognize this corporation type. (Points : 2)       Sole Proprietorship

      S Corporation

      501-C3 Non-Profit Corporation

      C Corporation

      Partnership

      LLC

Question 17. 17. A sub-group of people or firms that share characteristic(s) and have product needs in common is called a: (Points : 2)       market segment

      psychographic group

      customer base

      client profile

Question 18. 18. Legitimate is defined, as the person who has the power to reward employees in some way they deem valuable. (Points : 2)       True

      False

Question 19. 19. Expert is defined as power and influence based on expertise. These individuals have specialized knowledge such that others come to depend on them. (Points : 2)       True

      False

Question 20. 20. __________ is defined as the management function concerned with assigning tasks, grouping tasks into departments, and allocation resources to departments. (Points : 2)       Management

      Planning

      Organizing

      Controlling

  
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