This document provides answers to 29 multiple choice questions about business concepts and practices. The questions cover topics such as communication, source credibility, logical reasoning, leadership, entrepreneurship, accounting, human resources, and strategic planning. The answers are intended to assess understanding of fundamental business principles and how businesses operate.
This document provides answers to 29 multiple choice questions about business concepts. The questions cover topics such as communication, credibility of sources, logical reasoning, leadership, entrepreneurship, accounting, global trade, job specialization, economics, human resource management, and strategic planning. The answers provided are single letters A, B, C, or D with no further explanation given.
Mgt 521 final exam mcq`s correct answers 100%Austing_3
This document provides the questions and answers to a multiple choice exam on management and business topics. It covers areas like communication, marketing, leadership, ethics, entrepreneurship, accounting, economics, human resources, and strategic planning. The questions test understanding of key concepts in these areas and ability to identify examples and apply definitions. The document suggests the answers may not completely cover the actual exam being taken. It requests good feedback if the answers were helpful for studying.
The document provides a sample multiple choice exam for an MGT 521 management course. It contains 30 multiple choice questions testing concepts related to communication, leadership, ethics, entrepreneurship, economics, human resources, strategic planning, and tactics. The questions cover topics such as logical fallacies, stakeholder analysis, SWOT analysis, job specialization, and differences between strategic and tactical planning.
This document provides answers to 30 multiple choice questions about business concepts and strategies. The questions cover topics such as communication, leadership, entrepreneurship, accounting, economics, human resources, and strategic planning. The answers are intended to help students prepare for a final exam on management topics.
Mgt 521 mgt/521 final exam 100% correct answersGliven
This document provides answers to 30 multiple choice questions about business concepts and topics. The questions cover areas such as communication, leadership, entrepreneurship, accounting, economics, human resources, and strategic planning. Sample questions include types of source credibility issues, examples of logical fallacies in persuasion, stakeholders of a business, and the difference between tactical and strategic planning.
This document contains 61 multiple choice questions about e-commerce business models and concepts from Chapter 2 of the textbook E-commerce 2015, 11e by Laudon and Traver. The questions cover a range of topics including value propositions, revenue models, competitive environments, types of e-commerce business models such as e-tailers, marketplaces, content providers, and business-to-business models. Correct answers are provided for each question along with page references and assessments of difficulty.
Emerging technology trends for the entrepreneurBala Iyer
The document discusses major technology trends for entrepreneurial leaders to understand, including:
1. The rise of utility platforms and platform-based competition which rewards agility
2. The disintegration of organizational boundaries through digital spaces which can lower costs
3. The explosion of data enabling personalization through analytics for customer satisfaction
4. The increasingly connected world through networks which provides access to resources
5. Knowledge is being democratized through open sources rewarding learning organizations
This document provides the answers to a 30 question multiple choice exam on management topics. The questions cover subjects like the steps in the planning process, types of organizational structure, leadership styles, and functions of management.
This document provides answers to 29 multiple choice questions about business concepts. The questions cover topics such as communication, credibility of sources, logical reasoning, leadership, entrepreneurship, accounting, global trade, job specialization, economics, human resource management, and strategic planning. The answers provided are single letters A, B, C, or D with no further explanation given.
Mgt 521 final exam mcq`s correct answers 100%Austing_3
This document provides the questions and answers to a multiple choice exam on management and business topics. It covers areas like communication, marketing, leadership, ethics, entrepreneurship, accounting, economics, human resources, and strategic planning. The questions test understanding of key concepts in these areas and ability to identify examples and apply definitions. The document suggests the answers may not completely cover the actual exam being taken. It requests good feedback if the answers were helpful for studying.
The document provides a sample multiple choice exam for an MGT 521 management course. It contains 30 multiple choice questions testing concepts related to communication, leadership, ethics, entrepreneurship, economics, human resources, strategic planning, and tactics. The questions cover topics such as logical fallacies, stakeholder analysis, SWOT analysis, job specialization, and differences between strategic and tactical planning.
This document provides answers to 30 multiple choice questions about business concepts and strategies. The questions cover topics such as communication, leadership, entrepreneurship, accounting, economics, human resources, and strategic planning. The answers are intended to help students prepare for a final exam on management topics.
Mgt 521 mgt/521 final exam 100% correct answersGliven
This document provides answers to 30 multiple choice questions about business concepts and topics. The questions cover areas such as communication, leadership, entrepreneurship, accounting, economics, human resources, and strategic planning. Sample questions include types of source credibility issues, examples of logical fallacies in persuasion, stakeholders of a business, and the difference between tactical and strategic planning.
This document contains 61 multiple choice questions about e-commerce business models and concepts from Chapter 2 of the textbook E-commerce 2015, 11e by Laudon and Traver. The questions cover a range of topics including value propositions, revenue models, competitive environments, types of e-commerce business models such as e-tailers, marketplaces, content providers, and business-to-business models. Correct answers are provided for each question along with page references and assessments of difficulty.
Emerging technology trends for the entrepreneurBala Iyer
The document discusses major technology trends for entrepreneurial leaders to understand, including:
1. The rise of utility platforms and platform-based competition which rewards agility
2. The disintegration of organizational boundaries through digital spaces which can lower costs
3. The explosion of data enabling personalization through analytics for customer satisfaction
4. The increasingly connected world through networks which provides access to resources
5. Knowledge is being democratized through open sources rewarding learning organizations
This document provides the answers to a 30 question multiple choice exam on management topics. The questions cover subjects like the steps in the planning process, types of organizational structure, leadership styles, and functions of management.
This document provides the questions and answers to a law school final exam for LAW 531. It covers topics like [1] distinguishing features of common law legal systems, [2] types of corporate authority, and [3] personal liability of sole proprietors and partners. The 30 multiple choice questions and answers would allow a student to study for and prepare to take the final exam.
Priscilla narra les divertides experiències de tres amics que recorren el desert australià a bord d'un atrotinat autobús - que dóna nom al musical - representant el seu atrevit espectacle drag en un viatge a la recerca de l'amor i de la amistad.Como acabés tot això ...
The document discusses the requirements for meaningful use of electronic health records (EHRs) in order to qualify for stimulus incentives under the HITECH Act. It defines meaningful use as using certified EHR technology to improve quality, safety, and efficiency, including activities such as e-prescribing, incorporating clinical decision support, engaging patients and families, implementing clinical processes for improving health outcomes, and exchanging health information. It also lists some of the specific criteria that must be met, such as using CPOE for medication orders and recording patient demographics, vital signs, problems, and medications.
This document contains 30 multiple choice questions that appear to be from a final exam for a QNT/561 quality and operations management course. The questions cover topics like process types, process metrics, quality management tools, inventory management models, project management, forecasting, supply chain management and capacity management.
El documento describe los principios de la "wikinomía", una nueva economía basada en la colaboración masiva entre personas gracias a Internet y las tecnologías digitales. Explica que ahora las personas pueden participar en la economía a una escala sin precedentes compartiendo información, creando productos y servicios de forma colaborativa. Señala ejemplos como Wikipedia, YouTube y Linux y cómo han creado valor a través de la producción entre iguales.
This document outlines an ineffective teaching methodology called Boring Teacher Methodology (BTM) that involves letting students do nothing, strictly teaching from the book without engaging students, always assuming you are right without room for discussion or questions, assuming students know nothing and not building on their prior knowledge, keeping students idle by having them sit still and not participate, speaking in a monotone without expression or energy, being predictable without variation in activities, and losing students' attention by keeping on talking without interactivity.
The document provides answers to multiple choice questions about consulting best practices. It covers key phases of the consulting process like discovery, data collection, feedback, and implementation. Some important points covered are:
1) The discovery phase aims to define the problem, not distract or initiate control.
2) The first step of data collection is to identify what data to collect.
3) Feedback meetings should get the client's reaction to data and recommendations, not just present findings.
4) The goal of consulting is to teach clients how to solve their own problems in the future.
(New) final exam for mgt 521 all correct answers 100%quikly11
This document provides the questions and answers to a multiple choice exam on management and business topics. It covers areas like communication, marketing, leadership, ethics, entrepreneurship, accounting, economics, human resources, and strategic planning. The questions test understanding of key concepts in these areas and ability to identify examples and apply definitions. The document suggests the answers may not completely cover the actual exam being taken.
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This document provides the questions and answers to a multiple choice exam on business concepts. It covers topics like communication, credibility of sources, decision making, leadership, entrepreneurship, accounting, technology, international business, economics, human resources, and business analysis. The questions test understanding of key terms and ability to identify examples related to various business functions and strategies.
Mgt 521 final exam mcq`s correct answers 100%liamSali
This document provides the questions and answers to a MGT/521 Final Exam. It contains 28 multiple choice questions covering various topics related to management, including communication, credibility of sources, decision-making, leadership, ethics, entrepreneurship, accounting, economics, human resources, and business strategy. The document encourages leaving positive feedback if the provided answers are helpful and wishes the reader good luck on their exam.
This document provides answers to 30 multiple choice questions about business concepts and topics. The questions cover areas such as communication, leadership, entrepreneurship, accounting, economics, human resources, and strategic planning. Sample questions include types of source credibility issues, examples of logical fallacies in persuasion, stakeholders of a business, and the difference between tactical and strategic planning.
This document provides the answers to a 30 question multiple choice exam on management topics. The questions cover subjects like the steps in the planning process, types of organizational structures, leadership styles, and functions of management. Sample answers are provided for questions about ethical decision making frameworks, organizational differentiation and integration, and control systems.
This document provides the answers to a 30 question multiple choice exam on management topics. The questions cover subjects like the steps in the planning process, types of organizational structures, leadership styles, and functions of management. Sample answers are provided for questions about ethical decision making frameworks, organizational differentiation and integration, and control systems.
MGT 230 MGT/230 Final EXAM MCQ\s Correct Answers 100%johnMilit
The document contains 30 multiple choice questions that appear to be from a management exam. The questions cover topics such as the steps in the planning process, types of organizational structures, leadership styles, management functions, and approaches to control systems.
This document contains questions for IT 230 Final Appendix B: Network Design Project Template. It includes 26 multiple choice questions covering topics in business management, planning, decision making, organizational structure, leadership, and diversity. The questions assess understanding of concepts like the planning process, types of organizational structures, ethical decision making approaches, and leadership styles. A link is provided to access the IT 230 Final Appendix B template.
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This document contains a 30 question multiple choice exam on management topics. The questions cover concepts related to the functions of management including planning, organizing, leading, and controlling. Sample questions address topics like the steps in the decision making process, types of organizational structures, leadership approaches, and control systems. The document provides the questions and possible multiple choice answers but no answers are included.
This document provides answers to a 30 question multiple choice exam on management topics. It covers concepts like the four functions of management, organizational structure, leadership, ethics, and human resources. Planning involves analyzing situations, determining goals and appropriate actions to achieve them. Matrix organizations blend functional and divisional forms. Effective leaders motivate and empower employees to solve problems and envision a positive future.
This document provides answers to a 30 question multiple choice exam on management topics. It covers concepts like the four functions of management, organizational structure, leadership, ethics, and human resources. Planning involves analyzing situations, determining goals and appropriate actions to achieve them. Divisional organizations group units by products, customers or regions. Effective leaders motivate and empower employees to solve problems and envision a positive future.
This document provides answers to a 30 question multiple choice exam on management topics. It covers concepts like the four functions of management, organizational structure, leadership, ethics, and human resources. Key details assessed include defining planning, identifying organizational forms, approaches to decision making and control systems, and leadership styles. The document serves as a concise study guide and reference for management exam questions and answers.
StuDocu is not sponsored or endorsed by any college or university. This document contains 49 multiple choice questions from an entrepreneurship course at Monroe Community College. The questions cover topics like the definition of an entrepreneur, factors involved in starting a business, and government resources available for entrepreneurs.
This document provides the questions and answers to a law school final exam for LAW 531. It covers topics like [1] distinguishing features of common law legal systems, [2] types of corporate authority, and [3] personal liability of sole proprietors and partners. The 30 multiple choice questions and answers would allow a student to study for and prepare to take the final exam.
Priscilla narra les divertides experiències de tres amics que recorren el desert australià a bord d'un atrotinat autobús - que dóna nom al musical - representant el seu atrevit espectacle drag en un viatge a la recerca de l'amor i de la amistad.Como acabés tot això ...
The document discusses the requirements for meaningful use of electronic health records (EHRs) in order to qualify for stimulus incentives under the HITECH Act. It defines meaningful use as using certified EHR technology to improve quality, safety, and efficiency, including activities such as e-prescribing, incorporating clinical decision support, engaging patients and families, implementing clinical processes for improving health outcomes, and exchanging health information. It also lists some of the specific criteria that must be met, such as using CPOE for medication orders and recording patient demographics, vital signs, problems, and medications.
This document contains 30 multiple choice questions that appear to be from a final exam for a QNT/561 quality and operations management course. The questions cover topics like process types, process metrics, quality management tools, inventory management models, project management, forecasting, supply chain management and capacity management.
El documento describe los principios de la "wikinomía", una nueva economía basada en la colaboración masiva entre personas gracias a Internet y las tecnologías digitales. Explica que ahora las personas pueden participar en la economía a una escala sin precedentes compartiendo información, creando productos y servicios de forma colaborativa. Señala ejemplos como Wikipedia, YouTube y Linux y cómo han creado valor a través de la producción entre iguales.
This document outlines an ineffective teaching methodology called Boring Teacher Methodology (BTM) that involves letting students do nothing, strictly teaching from the book without engaging students, always assuming you are right without room for discussion or questions, assuming students know nothing and not building on their prior knowledge, keeping students idle by having them sit still and not participate, speaking in a monotone without expression or energy, being predictable without variation in activities, and losing students' attention by keeping on talking without interactivity.
The document provides answers to multiple choice questions about consulting best practices. It covers key phases of the consulting process like discovery, data collection, feedback, and implementation. Some important points covered are:
1) The discovery phase aims to define the problem, not distract or initiate control.
2) The first step of data collection is to identify what data to collect.
3) Feedback meetings should get the client's reaction to data and recommendations, not just present findings.
4) The goal of consulting is to teach clients how to solve their own problems in the future.
(New) final exam for mgt 521 all correct answers 100%quikly11
This document provides the questions and answers to a multiple choice exam on management and business topics. It covers areas like communication, marketing, leadership, ethics, entrepreneurship, accounting, economics, human resources, and strategic planning. The questions test understanding of key concepts in these areas and ability to identify examples and apply definitions. The document suggests the answers may not completely cover the actual exam being taken.
(New) final exam for mgt 521 mgt 521 all correct answers 100%ri0908O0o
This document provides the questions and answers to a multiple choice exam on business concepts. It covers topics like communication, credibility of sources, decision making, leadership, entrepreneurship, accounting, technology, international business, economics, human resources, and business analysis. The questions test understanding of key terms and ability to identify examples related to various business functions and strategies.
Mgt 521 final exam mcq`s correct answers 100%liamSali
This document provides the questions and answers to a MGT/521 Final Exam. It contains 28 multiple choice questions covering various topics related to management, including communication, credibility of sources, decision-making, leadership, ethics, entrepreneurship, accounting, economics, human resources, and business strategy. The document encourages leaving positive feedback if the provided answers are helpful and wishes the reader good luck on their exam.
This document provides answers to 30 multiple choice questions about business concepts and topics. The questions cover areas such as communication, leadership, entrepreneurship, accounting, economics, human resources, and strategic planning. Sample questions include types of source credibility issues, examples of logical fallacies in persuasion, stakeholders of a business, and the difference between tactical and strategic planning.
This document provides the answers to a 30 question multiple choice exam on management topics. The questions cover subjects like the steps in the planning process, types of organizational structures, leadership styles, and functions of management. Sample answers are provided for questions about ethical decision making frameworks, organizational differentiation and integration, and control systems.
This document provides the answers to a 30 question multiple choice exam on management topics. The questions cover subjects like the steps in the planning process, types of organizational structures, leadership styles, and functions of management. Sample answers are provided for questions about ethical decision making frameworks, organizational differentiation and integration, and control systems.
MGT 230 MGT/230 Final EXAM MCQ\s Correct Answers 100%johnMilit
The document contains 30 multiple choice questions that appear to be from a management exam. The questions cover topics such as the steps in the planning process, types of organizational structures, leadership styles, management functions, and approaches to control systems.
This document contains questions for IT 230 Final Appendix B: Network Design Project Template. It includes 26 multiple choice questions covering topics in business management, planning, decision making, organizational structure, leadership, and diversity. The questions assess understanding of concepts like the planning process, types of organizational structures, ethical decision making approaches, and leadership styles. A link is provided to access the IT 230 Final Appendix B template.
Mgt 230 final exam 30 30 correct answers 100%eriks23
This document contains a 30 question multiple choice exam on management topics. The questions cover concepts related to the functions of management including planning, organizing, leading, and controlling. Sample questions address topics like the steps in the decision making process, types of organizational structures, leadership approaches, and control systems. The document provides the questions and possible multiple choice answers but no answers are included.
This document provides answers to a 30 question multiple choice exam on management topics. It covers concepts like the four functions of management, organizational structure, leadership, ethics, and human resources. Planning involves analyzing situations, determining goals and appropriate actions to achieve them. Matrix organizations blend functional and divisional forms. Effective leaders motivate and empower employees to solve problems and envision a positive future.
This document provides answers to a 30 question multiple choice exam on management topics. It covers concepts like the four functions of management, organizational structure, leadership, ethics, and human resources. Planning involves analyzing situations, determining goals and appropriate actions to achieve them. Divisional organizations group units by products, customers or regions. Effective leaders motivate and empower employees to solve problems and envision a positive future.
This document provides answers to a 30 question multiple choice exam on management topics. It covers concepts like the four functions of management, organizational structure, leadership, ethics, and human resources. Key details assessed include defining planning, identifying organizational forms, approaches to decision making and control systems, and leadership styles. The document serves as a concise study guide and reference for management exam questions and answers.
StuDocu is not sponsored or endorsed by any college or university. This document contains 49 multiple choice questions from an entrepreneurship course at Monroe Community College. The questions cover topics like the definition of an entrepreneur, factors involved in starting a business, and government resources available for entrepreneurs.
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This document provides the questions and answers for the MGT/230 Final Exam. It covers topics in management including planning, decision making, ethics, organizational structure, leadership, and control systems. There are 30 multiple choice questions testing understanding of key concepts in management functions and processes.
This document provides the questions and answers for the MGT/230 Final Exam. It covers topics in management including planning, decision making, organizational structure, leadership, ethics, and control systems. There are 30 multiple choice questions testing comprehension of key concepts in management functions and processes.
This document provides the questions and answers to the MGT/230 Final Exam. It covers topics in management such as planning, decision making, ethics, organizational structure, leadership, and control systems. There are 30 multiple choice questions testing comprehension of key concepts in management functions and processes.
This document provides the questions and answers for the MGT/230 Final Exam. It covers topics in management including planning, decision making, organizational structure, leadership, ethics, and control systems. There are 30 multiple choice questions testing comprehension of key concepts in management functions and processes.
This document provides the questions and answers to the MGT/230 Final Exam. It covers topics in management including planning, decision making, ethics, organizational structure, leadership, and control systems. There are 30 multiple choice questions testing understanding of key concepts in management functions, processes, and challenges faced by organizations.
Mgt 498 mgt/498 final exam 100% correct answersGliven
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1. MGT/521 Final Exam
ANSWERS ARE HERE
Quality and inexpensive:
1) John writes a memo to his employees. Putting his thoughts onto paper is an example of
A. communicating
B. messaging
C. encoding
D. cryptography
2) Chantel received an invitation to a web meeting that will take place at 3:00 p.m. She
accepted the invitation. This is an example of
A. formal channels of communication
B. spontaneous communication
C. feedback as a function of communication
D. informal channels of communication
3) You are doing research on political issues and find that you are on a conservative leaning
site. What type of source credibility issue is this?
A. Credentials
B. Impartiality
C. Currency
D. Style
4) When reviewing an educational math website, you find the author’s background is in English.
What type of source credibility issue is this?
2. A. Credentials
B. Impartiality
C. Currency
D. Style
5) A famous ice cream manufacturer sent workers to a nearby grocery store to offer shoppers a
sample of its new flavor. The workers provided samples to 300 shoppers and noted that 80% of
the sample population stated they liked the flavor. Based on this scenario, which of the following
is an example of an inference?
A. Workers provided samples to 300 shoppers.
B. 20 percent of the sample population did not like the new flavor or were indifferent.
C. The ice cream manufacturer began producing the new ice cream flavor and offered it in
stores.
D. The workers were offering samples to see if the general public liked the new flavor.
6) Persuading or convincing others to accept your argument means the reasoning must be
logical. Which of the following is an example of logical flaws or fallacies?
A. Opposing views are considered
B. Hasty Generalization
C. Argument presents alternative explanations
D. Reasoning from specific evidence
7) What is the best way for the CEO to deal with managers in key positions who continue to
resist a major change?
A. Minimize their interactions with fellow employees and work around them
B. Replace them with people who will support the change
C. Give them space and hope they will come to see why the change was necessary
D. Keep increasing the pressure on them to support the change
8) Finding a win-win solution that allows parties who are involved to have their goals achieved is
an example of
3. A. accommodation
B. collaboration
C. team building
D. compromising
9) What is emphasized more in ethical leadership theories than in transformational leadership?
A. Leader values
B. Leader behaviors
C. Leader skills
D. Leader traits
10) Ethical behavior and integrity for a leader is most likely to result in
A. higher unit performance
B. higher performance ratings for the leader by bosses
C. higher subordinate satisfaction and trust
D. less stress for the leader
11) A common characteristic of most entrepreneurs is that they
A. accept the risks involved in starting and managing a business
B. have a high level of scientific and technical expertise
C. possess a great deal of personal wealth
D. have experience in running large, complex organizations
12) In order to make an intelligent investment decision, entrepreneurs should
A. limit their options to those business investments that are backed by the U.S. government
B. invest in businesses that have generated a stable rate of profit for at least the past ten
years
4. C. invest only in business opportunities where it is possible to take an active role in
management
D. compare the risks of potential investments to their expected profits and find the right
balance between profit and risk
13) The customers, employees, stockholders, suppliers, creditors, and others who stand to gain
or lose by the policies and activities of a business represent the firm's
A. market makers
B. economic environment
C. stakeholders
D. social mentors
14) When a firm makes use of the SWOT analysis, one of its objectives is to
A. identify the best employees to fill each position within the organization
B. set specific short-term performance standards for each department
C. evaluate the desirability of issuing stocks or bonds in the current financial climate
D. identify the things it does well as an organization and the things it needs to improve
15) The process of rating an organization's practices, processes, and products against the best
of the world is known as
A. webworking
B. outsourcing
C. benchmarking
D. core competencies
16) Companies benefit today by inter-firm cooperation. One of the ways they cooperate is
through networking. Another way is by seeking technological knowledge and learning new
processes from other firms that usually fall outside of their respective industries. We call this
A. competency capturing
5. B. technology swapping
C. benchmarking
D. broadening the knowledge base
17) An important difference between accounting and other business functions, such as
marketing and management, is that
A. accounting functions must be performed by an "outsider" (rather than by an employee of
the business) in order to avoid conflicts of interest
B. accounting offers us insight into whether the business is financially sound
C. accounting involves mainly clerical activities and thus requires very little analysis
D. accounting deals exclusively with numbers
18) Although accounting has several specific uses, the overall purpose of accounting can be
summarized as
A. to provide financial information that is useful to decision makers
B. to meet the legal requirements of the Financial Accounting Standards Board (FASB)
C. to allow the government to track business activity levels
D. to compute the profit or loss and declared dividend of a business firm
19) An important advantage that knowledge technology has over older versions of business
technology is that it
A. is much cheaper to incorporate into most business operations
B. delivers timely information directly to the people who need it
C. allows businesses to locate anywhere and still reach their customers
D. eliminates the need for business to store information electronically
20) First Engineering, a large U.S. based mechanical engineering firm, is considering entering
the global market. Upon careful analysis of the global market, they will find that global trade
6. A. opportunities are diminishing
B. is dominated by emerging, developing countries
C. is likely to be severely restricted in the future by nontariff trade barriers
D. is big business today and is expected to be more important in the future
21) The process of setting up individual functional units of the business to do specialized tasks
is called
A. departmentalization
B. division of labor
C. job specialization
D. delegation of authority
22) The proven success of job specialization lies in the fact that
A. it leads to groupthink
B. it avoids the pitfalls of division of labor, where workers become removed from thinking
conceptually about the business
C. it is a detractor to others who are thinking about entering your industry because it
successfully creates barriers to entry
D. it adds efficiency to the business's operation by identifying tasks that some do better
than others
23) Economics is the study of how a society
A. invests wisely in the stock market
B. employs resources to produce goods and services and distribute them among competing
groups and individuals
C. employs statistical techniques to make predictions about the evolution of society over the
long run
D. governs itself for the good of its citizens
24) How is it that people working in their own self-interest produce goods, services, and wealth
7. for others?
A. By taking advantage of a vast supply of labor, people working in their own self-interest
could hire others at very low wages.
B. In order to earn money and produce goods that improve lives, self-directed gain would
provide jobs, and subsequently wages for others.
C. The government pays entrepreneurs in the United States to produce goods, services,
and wealth for others.
D. Entrepreneurs tend to include themselves in a group of people who need charitable
support. A portion of the entrepreneur's profit (as required by law) goes to the charity of one's
choice to support the less fortunate.
25) The ultimate resource of a firm is its
A. business plan
B. marketing mix
C. capital budget
D. employees
26) Today, human resource management has become so important that in many firms it has
become
A. a function performed by managers in all areas of the organization
B. the main responsibility of the firm's legal staff
C. a function handled only by specialists in the human resource department
D. function handled only by the firm's top management
27) Which of the following is included in performing a business analysis?
A. Hiring new employees
B. Entering global markets
C. Conducting a SWOT analysis
D. Networking
8. 28) When the competition is intense and the environment is changing rapidly, it is especially
important to
A. maintain a high level of external monitoring
B. have detailed plans and operating procedures
C. increase the power of the chief executive
D. strengthen the organization culture
29) Which of the following would be a concern addressed in a strategic plan?
A. Which specific jobs should be assigned to each employee?
B. How much output should be produced this week in a given production facility?
C. Which computer software package should the firm’s human resources office use to
manage the payroll?
D. Should the firm make a long-term commitment to expand into new markets?
30) Tactical planning is concerned with
A. determining the best way to cope with an emergency situation
B. devising temporary courses of action to be used if the primary plans do not achieve the
desired results
C. developing detailed strategies about what is to be done, who is to do it, and how it is to
be done
D. setting long run goals that will govern the general course of the organization for years