Quiz 2

Question 1

The business plan market analysis section should indicate that the business owner has knowledge of the market, has conducted research into the market and has ________?

A)

mapped out the company’s organizational structure

B)

narrowed the target market to a reasonable size

C)

estimated future funding requirements

Question 2

Individuals are motivated by a sense of fairness in their interactions, and our sense of fairness is a result of the social comparisons we make. This is the ________.

A)

acquired-needs theory

B)

equity theory

C)

two-factor theory

Question 3

Managers who adopt a ________ style communicate with subordinates about what is expected of them and what happens if they meet these objectives. Their attention tends to focus on identifying problems and disciplining employees for poor performance.

A)

laissez-faire

B)

transformational

C)

transactional

Question 4

Which of the following definitions best describes a team (or work team)?

A)

a group of people with complementary skills who work together to achieve a specific goal

B)

a group of people performing the same job functions and working in the same office space

C)

a group of people who go about their jobs independently and meet primarily to share information

Question 5

A company's mission statement should have what effect on its employees?

A)

it should prompt employees to get additional training in order to stay at the workplace

B)

it should instill fear and uncertainty

C)

it should inspire employees and resonate with their inner motivations.

Question 6

When one company purchases and absorbs another company it is called a(n):

A)

franchise

B)

merger

C)

acquisition

Question 7

In email messages, using all capital letters denotes:

A)

nothing out of the ordinary

B)

you are shouting or angry

C)

you are excited or happy

Question 8

Conceptual skills are most essential for:

A)

top-level managers

B)

lower-level managers and employees

C)

mid-level managers

Question 9

In the United States, the________ is the right of an employer to fire an employee or an employee to leave an organization at any time, without any specific cause. This principle gives both the employee and employer freedom to terminate the relationship at any time.

A)

mandatory employment principle (MEP)

B)

right-to-work provision (RTW)

C)

employment-at-will principle (EAW)

Question 10

In his managerial role, Carlos starts every project with a session focused on goal-setting and dialogue among team members about the best approach for achieving these goals. This activity is part of which primary function of management?

A)

directing

B)

planning

C)

controlling

Question 11

An approach of open communication and collaborative decision making suggests which type of leadership?

A)

democratic leadership

B)

autocratic leadership

C)

laissez-faire leadership

Question 12

Joseph oversees the work of three team leaders at a software company. He reports to the vice president of operations. Based on this information, at which management level does Joseph work?

A)

first-line management

B)

top management

C)

middle management

Question 13

Which government entity insures loans for small businesses?

A)

the IRS

B)

the SBA (Small Business Administration)

C)

the Federal Reserve

Question 14

The first step in appraising employees’ performance is to:

A)

share performance appraisal results with the employee

B)

complete a written evaluation rating employee performance according to the predetermined criteria

C)

set goals, performance expectations and specify the criteria used to measure performance

Question 15

Allocating resources including people, equipment and money to carry out the company’s plans is the ________ function of management.

A)

planning

B)

controlling

C)

organizing

Question 16

Marc leads a unit focused on business-to-business sales of the specialty office furniture his company manufactures. His division includes teams that perform sales and marketing, accounting, product development and installation. Another company unit focuses on selling to retailers, designers and households. How does Marc’s employer structure this organization?

A)

customer division structure

In

B)

functional organization

C)

process division structure

Question 17

________ is the process of identifying suitable candidates and encouraging them to apply for job openings in the organization.

A)

firing

B)

training

C)

recruiting

Question 18

When a corporation makes payments to its shareholders these are called:

A)

stock benefits

B)

stock buy-back

C)

dividends

Question 19

________ is the tendency to conform to group pressure in making decisions, while failing to think critically or to consider outside influences.

A)

group dynamic

B)

groupthink

C)

group cohesiveness

Question 20

Attracting talented employees, developing existing employees, retaining good employees, and managing these tasks is a matter of ________: the process of developing a plan to satisfy an organization’s human resources (HR) needs.

A)

strategic human resource planning

B)

strategic employee planning

C)

critical human resource planning

Question 21

What is the purpose of a mission statement?

A)

it explains how the company was created

B)

it describes the purpose of the organization

C)

it defines who will do what in the company

Question 22

The ability to reason abstractly and analyze complex situations is known as:

A)

organizational skills

B)

technical skills

C)

conceptual skills

Question 23

Lois works at ActiveTech’s headquarters where she leads a team of eight people. The team is focused on providing technical support and customer service for ActiveTech’s new line of wearable computing gear for runners. It is Lois’s sole responsibility to set team goals, assign tasks and monitor the performance of team members. Lois reports to her manager on team progress, outcomes and performance metrics. Lois’s team structure is:

A)

a virtual team

B)

a self-managing team

C)

a manager-led team

Question 24

By asking individuals what satisfies them on the job and what dissatisfies them, Frederick Herzberg came to the conclusion that:

A)

aspects of the social environment that satisfy and dissatisfy employees are very similar

B)

the same work environment satisfies some employees while dissatisfying others

C)

aspects of the work environment that satisfy employees are very different from aspects that dissatisfy them