Question 1

1. SWOT analysis stands for ________.

strengths, weaknesses, opportunities, and tools
strengths, weaknesses, opportunities, and threats
strengths, weaknesses, organizations, and tools
strengths, weaknesses, organizations, and threats
2 points

Question 2
1. Which of the following business plans has the broadest scope?
tactical plans
functional plans
operational plans
strategic plans
2 points

Question 3
1. When companies reward employees who report valid claims of corporate
unethical conduct, what are they clearly encouraging?
pay for performance
whistleblowing
moral intensity
compensatory justice
2 points

Question 4
1. ________ involves estimating future conditions and circumstances and
making decisions based on these estimations.
Planning
Directing
Controlling

Organizing
2 points

Question 5
1. At the functional level of an organization, a manager would attempt to
address the issue of:
determining the advantages over competitors.
evaluating the unit's strengths and weaknesses.
identifying the business' direct competitors.
assessing a competitor's strengths and weaknesses.
2 points

Question 6
1. A manager of a factory would use managerial accounting reports to determine:
number of customer purchases increase/decrease over last year
how much it will cost to manufacture a product
accrual v. cash method
A&B
2 points

Question 7
1. Technology and the attitudes of subordinates are considered to be the ________ of
managerial jobs.
requirements
demands
choices
constraints
2 points

Question 8
1. As an employee of an international aid organization, Cynthia is often required
to travel to countries where natural disasters have recently occurred. During a

visit to a city destroyed by an earthquake, Cynthia learns that her

organization has hired child laborers to help rebuild the ruined city. She quits
the organization and brings this information to the notice of the public.
Cynthia is a(n) ________.
connoisseur
analyst
whistleblower
defender
2 points

Question 9
1. Analyzing the company itself through questions and answers constitutes a(n)
_________ analysis:
internal
external
generic
custom
2 points

Question 10
1. Value proposition is:
Acknowledgment of value by customer
Promise of value to customer
both A&B
neither A nor B
2 points

Question 11
1. ________ involve a country's infrastructure, such as roads,
telecommunications, air links, arable land, deep water harbors, mineral
resources, forests, and climate.
Sociocultural forces

Physical forces
Institutional forces
Geopolitical forces
2 points

Question 12
1. Which of the following is a characteristic of collectivism?
emphasis on individual achievement
group membership
high emotional independence
value for individual decisions
2 points

Question 13
1. A manager most likely needs the most common 4 financial statements for:
running the business
convincing outsiders to give the company money
determining who should get bonuses
determining feasibility of the business
2 points

Question 14
1. A low-cost strategy is a(n) _______ strategy:
timed
generic
custom
Eric Cartman
2 points

Question 15
1. Chucks' Eggs is a company that distributes eggs in Latin America and is planning to
enter the North American market. As the risks are greater when entering new markets,

Chucks' decides to join hands with another firm that has mutually desirable goals.
This way, they can share the costs and have access to each other's resources. Which
one of the following ways is Chucks' implementing to enter a new market?
exporting
creating a strategic alliance
licensing
purchasing a local firm
2 points

Question 16
1. Naomi, a production manager at Morrison Textiles, comes up with a new
technique of enhancing worker productivity. She talks about this with her
colleagues and friends, and following positive responses from them, decides
to take it up with the firm's senior management. Naomi's effort to see this
through reflects the ________ role that managers play.
entrepreneurial
spokesperson
leadership
negotiator
2 points

Question 17
1. A legal form of entity that does not require managers to maximize shareholder value
is/are called:
Benefit Corporations
Beneficiary Corporations
Benedictine Corporations
Limited Liability Corporations
2 points

Question 18
1. GAAP accounting standards are:
required for reports provided externally

required for reports provided internally

both A&B
neither A nor B
2 points

Question 19
1. Marketing focuses upon the ________ of customers:
wants
needs
demands
all of the above
2 points

Question 20
1. In high-context cultures, the situation has a ________ on what is considered
appropriate behavior.
negligible influence
minimal influence
significant influence
marginal influence
2 points

Question 21
1. ________ roles of a manager are composed of the figurehead role, the leader
role, and the liaison role.
Negotiator
Informational
Decisional
Interpersonal
2 points

Question 22

1. Good managerial ethics have the greatest impact upon:

employees & customers
customers & politicians
politicians & employees
none of the above
2 points

Question 23
1. Porters Five Forces include:
rivalry
new entrants
customers
all of the above
2 points

Question 24
1. In marketing generally, the target customer is:
A customer who shops at Target
An initial ideal customer
A demographically-identified customer
A long-term customer
2 points

Question 25
1. In Albany, Georgia, the bars and restaurants built outdoor seating areas after
the city passed laws banning indoor smoking to accommodate customers who
smoked. To what dimension of the general environment were the bar and
restaurant owners reacting?
political-legal forces
sociocultural forces
institutional forces
economic forces

2 points

Question 26
1. Crystal is a vintage champagne, meaning that the champagne is made in the best years
for wine production and all grapes used to make the wine are harvested in the same
year. No other champagne can match this quality. Crystal has a ________.
consistent advantage
competitive advantage
strategic vision
production advantage
2 points

Question 27
1. The term manager refers to anyone who ________.
plans, controls, and evaluates
is not a member of a labor union
is a member of an organization
owns shares in the company
2 points

Question 28
1. A company's vice president says, "I think we should do away with the practice
of using forecasts as a basis for our plans. The results are not fully accurate."
Which of the following would be the best rebuttal to this statement?
Companies in some other industries have effectively used forecasting for
analyzing the potential of the external business environment.
Forecasts are meant to provide a general idea of the direction of future
business and cannot be expected to be fully accurate.
Supply and demand conditions in the marketplace this year are expected
to deviate significantly from historical averages.
The fact that forecasting has not yielded exact results in the past does not
mean that it will not do so in the future.
2 points

Question 29
1. The ethical issue that comes from managers also being owners is most likely:
employee envy
self-interest
the greater good
do unto others as they would do unto you
2 points

Question 30
1. ________ is when cultures differ in the extent to which they need clarity or can
tolerate ambiguity.
Collectivism
Power distance
Uncertainty avoidance
Individualism
2 points

Question 31
1. Sespi is a manufacturer of aerated drinks such as colas and other beverages.
The finance department is planning to table a capital expenditure budget for
the upcoming year. Which of the following items might be accounted for
under this budget?
stationery items for offices
dividend payments for shareholders
employee payroll
a new bottling plant
2 points

Question 32
1. Activities that transform inputs into the products and services of the firm, as
well as maintenance of machines, are part of the ________.

inbound logistics component of the value chain

procurement component of the value chain
operations component of the value chain
outbound logistics component of the value chain
2 points

Question 33
1. Which of the following is true about the Foreign Corrupt Practices Act?
Companies and individuals found violating the act are given a warning.
It covers payments made to business executives.
It outlaws an employee from making payments to any person when the
employee has "reason to know" that the payments might be used to
corrupt the behavior of officials.
It prohibits employees of U.S. firms from making payments to low-level
government employees.
2 points

Question 34
1. Which of the following types of managerial roles includes acting as a monitor,
disseminator, and a spokesperson?
informational roles
interpersonal roles
decisional roles
liaison roles
2 points

Question 35
1. MGN is company that manufactures hardware, headquartered in London, UK. The
company strives to be simultaneously centralized and decentralized. As such, its goal
is to achieve global efficiency while maintaining local market responsiveness. Which
approach is the organization following?
transnational focus
state focus

region-country focus
global focus
2 points

Question 36
1. Products of a company would ________ when no other firms can have the
capabilities needed to provide the same quality and quantity of products and
services.
be substituted easily
have no market value
be a rarity
be difficult to imitate
2 points

Question 37
1. ________ translates long-term plans into actions designed to achieve specific
and shorter-term goals and objectives.
Strategic planning
Transactional planning
Operational planning
Tactical planning
2 points

Question 38
1. Campacola is a soda company that is seeking to enter the market by
introducing an unusual line of sodas that contain granules that pop in the
mouth. It intends to sell these sodas at no greater cost than normal sodas.
What strategy is the company using in entering the soda market?
integrated differentiation-cost leadership strategy
focused differentiation strategy
multipoint differentiation strategy
cost leadership strategy

2 points

Question 39
1. A manager most likely needs managerial accounting reports for:
ruining the business
convincing outsiders to give the company money
determining who should get bonuses
determining feasibility of the business
2 points

Question 40
1. A manager of a local bookstore is trying to increase his store's productivity
without hiring additional employees. He has noticed that a competitor is
flourishing with relatively few employees and decides to investigate. This is
an example of ________.
benchmarking
forecasting
contingency planning
competitive intelligence
2 points

Question 41
1. A Gantt chart can help managers devise an action plan in all of the following ways
EXCEPT ________.
showing the sequence in which the actions will be completed
showing when actions will start and how long they require for completion
showing any expected overlap in the timing of specific actions
showing the course of action to be taken if plans need to be changed during the
course of their implementation
2 points

Question 42
1. Marketing is:

analyzing target market

identifying marketing mix
both A&B
neither A or B
2 points

Question 43
1. Managers need to be involved with such contracts issues as:
making and keeping agreements; remedies when disputes arise
Constitutional law caselaw updates regarding contracts
both A&B
neither A nor B
2 points

Question 44
1. When Maria arrived from Mexico to study in the U.S., she noticed a difference
between the students in Mexico and the students in the U.S. The American
students felt comfortable asking questions, they were eager to share a thought
or an opinion, and in some instances they even contradicted the teacher.
Maria comes from a country that has ________.
individualism
uncertainty avoidance
high power distance
gender focus
2 points

Question 45
1. Marketing mix includes:
product, place, price, people
product, process, price, promotion
product, place, price, promotion
People, promotion, product / service, place

2 points

Question 46
1. From an efficiency perspective, when the manager of a business ________, the
self-interests of the owner are best achieved by serving the interests of society.
is risk averse
is also its owner
plays a purely administrative role
has a strong concern for social welfare
2 points

Question 47
1. According to Hofstede, ________ is the extent to which people accept power
and authority differences among people.
power distance
uncertainty avoidance
individualism
gender focus
2 points

Question 48
1. The types of legal issues managers might face include:
Dispute resolution
Tort law (avoiding liabilities for injuries to customers and others)
Government regulations
all of the above
2 points

Question 49
1. What are the primary organizational levels of a corporation?
production, marketing, and sales
finance, human resources, and operations

corporate, business, and functional

production, marketing, and administration
2 points

Question 50
1. Managers use outside (external) CPAs because:
they cost less
they cost more
they are told what to write by the company
they are not told what to write by the company