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MN1101 > Final Quiz > Flashcards

Final Quiz Flashcards

0
Q

Similar to all professions, it is a basic requirement in the preparation of a successful career in this field

A

Positive mental altitude

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1
Q

It is classified as a career

A

Management

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2
Q

The realization of one’s undertaking through the use of the conscious mind (based on the five senses) and the sub-conscious mind (based on the sixth sense or imagination)

A

Positive mental altitude

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3
Q

It is a profession or calling demanding special preparation, undertaken with a real commitment to serve the people

A

Career

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4
Q

It calls for the best that the qualified practitioner can give.

A

Profession

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5
Q

It gives a premium on talent, hard work, integrity and commitment to justice and progress, and the right kind of attitude

A

Modern business

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6
Q

They’re all born with their own measure of talents and attitudes which they develop brought observation, experience and formal studies

A

Business managers

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7
Q

It is just a beginning of an individual endeavor

A

Formal education

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8
Q

After years of hearing Harvard Business School students agonize over their quest for the perfect job, associate professor ______ decided to compile a simple set of rules

A

David Maister

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9
Q

Rules for Career Management for first time job seekers

A

You can’t decide what you want from a job until you’re clear about what you want from life.

Other people will you what you want from life. You don’t have to accept the answer.

Different people are impressed by different things. What do you want to be admired for?

The keys to what you really want are the things you don’t like to admit.

You’re a lot less flexible than you think

Enthusiasm and the hard work it inspires went far more than extra ability.

Don’t sell-buy

Don’t be afraid to ask about the job

If the job turns you on, you’ll be good enough

Don’t plan too far ahead

Take a job because it will make you happy now, not because it may make you happy tomorrow.

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10
Q

Employment opportunities for business, computer and secretarial graduates

A 
Management
Banking and Finance
Accountancy
Marketing
Computer
Secretarial
Computer Secretarial
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11
Q

Computer

A 
Technician
Entrepreneur
Data Encoder
EDP Manager
Programmer
Systems Analysts
College Teacher
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12
Q

Management

A 
Training officer
Account Executive
Credit Analyst
Consultant
Personnel Manager
Executive Secretary
Public Relations Officer
Bookkeeper
Entrepreneur
Bank Teller
Chief Executive Officer
President/General Manager
College Teacher
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13
Q

Marketing

A 
Market Researcher
Account Executive
Market Dealer
Sales Manager
Merchandiser
Entrepreneur
Purchasing Officer
Brand Manager
Product Manager
Marketing Manager
Receptionist
Marketing Consultant
Public Relations Officer
College Teacher
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14
Q

Banking and Finance

A 
Credit Investigator
Loan Officer
Economist
Securities Analysts
Trust Manager
Stockbroker
Foreign Exchange Dealer
Underwriter
Financial Adviser
Entrepreneur
Financial Analyst
Bank Teller
Corporate Treasurer
Budget Manager
Finance Consultant
Financial Controller
College Teacher
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15
Q

Accountancy

A 
Certified Public Accountant
Entrepreneur
Bookkeeper
Financial Analyst
Budget Officer
Project Consultant
College Teacher
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16
Q

Secretarial

A

Clerk/Typist
Entrepreneur
Executive Secretary
College Teacher

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17
Q

Computer Secretarial

A

Data Encoder
Entrepreneur
Executive Secretary
College Teacher

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18
Q

It has developed into a very effective method in improving an individual’s ability to analyze a situation, establish premises, arrive at valid conclusions, decide on courses of action, and visualize consequences and results

A

Case study approach

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19
Q

They are exercises in the management process and in executive action, providing opportunities for applying principles learned, to business situations encountered in actuality

A

Case study approach

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20
Q

Usually narrates the development of a situation over an extended period of time.

A

Case

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21
Q

Projects himself into the situation, and visualized it as though he is personally involved

A

Case analyst

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22
Q

He/she follows the narrated developments by identifying and evaluating the more important factors and information needed for valid judgments

A

Case analyst

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23
Q

They are carefully analyzed not only to determine whether there is a problem but also to find out the company’s position in the industry-what other’s are doing and how they are faring, and the need for collective action for collective benefits

A

Relevant data

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24
Q

It calls for the determination of all possible courses of action in solving problems; the evaluation of each option in the light of objectives, the prevailing situation, and available resources, and the critical appraisal of the solution tentatively chosen as the best for the situation

A

Problem-solving process

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25
Q

It may lead to the adoption of the said solution as the best, or to a further study of the problem until a better solution is arrived at which can be rationalized as the best

A

Critique of the tentative solution

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26
Q

It may involve several correlated courses of action and is presented as a complete statement of what is intended to be achieved, how this is to achieved, and the time frames for its accomplishment

A

Solution

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27
Q

It must also foresee the new problems which may arise and how these emerging problems are to be resolved

A

Solution

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28
Q

It is best started individually

A

Case study

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29
Q

It may call for problem-solving actions, a policy strategy for the future.

A

Case

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30
Q

It is most useful as an exercise in analysis and decision making.

A

Case study

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31
Q

It is also very informative because it presents much information peculiar to business practices and conditions

A

Case

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32
Q

Must deal with internal problems, provide relevant background information or criticize the premises or conclusions arrived at by the student

A

Management

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33
Q

Suggestions are offered to help in the study and preparation of case analysis:

A
  1. Read the assigned case thoroughly and completely
  2. If the case is lengthy, you would wish to make notes of pertinent information before proceeding with your analysis.
  3. Formulate in writing a precise statement of the problem.
  4. Select the several alternative courses of action which can be taken.
  5. Concerning these hypotheses, raise the question which demand an answer.
  6. Organize the evidences
  7. Tentatively weigh the evidences and select the hypothesis
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34
Q

Putting analysis into writing, however requires the following ideas to be considered:

A

Clarity and simplicity of written statements are essential

Use short sentences

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35
Q

Objectives of the case method:

A

To make the student become more efficient and accurate in finding the cause and effect of business problems
To train the student become more imaginative in formulating efficient
solutions
To help the student apply his own special experience, and to handle new situations if he has little or no experience
To develop his skill in interacting,

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36
Q

Basic characteristics of a Good Case Analysis:

A

Based on particular situational facts
Solution must be highly creative
Good understanding and identification of the central problem
Student’s position must be supported and defensible

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37
Q

Suggested Outline in Solving Business Cases:

A 
I. Time Context
II. Viewpoint
III. Statement of the Problem
IV. Objectives
Must objectives/Short-Range
Want objectives/Long-Range
V. Areas of Consideration/Analysis
VI. Alternative Courses of Action
VII. Recommendation
VIII. Conclusion/Detailed Action or Implementation Plan
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38
Q

Specify the (month and year) if the case fact is explicit about it

A

Time comtext

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39
Q

It should tell us when the problem was observed, which requires the necessity of an action

A

Time context

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40
Q

A business problem requiring an action in pre-marital law days will have a different action if it were to be tackled today.

A

Time context

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41
Q

In solving business problems, the student must specify the viewpoint he is taking

A

Viewpoint

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42
Q

It is always based on the manager’s viewpoint

A

Viewpoint

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43
Q

Given a business problem, the president of a company will most likely have a different approach or solution from those of other company officers

A

Viewpoint

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44
Q

A ______ is a deviation or an imbalance between what should be and what is actually happening

A

Problem

Statement of the Problem

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45
Q

This imbalance is caused by a change of one kind or another.

A

Problem

Statement of the Problem

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46
Q

A ________ could be answered by the question-what is wrong that needs correcting?

A

Problem

Statement of the Problem

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47
Q

A business case may contain a variety of issues or problems, from the trivial to the significant, from the irrelevant to the relevant

A

Statement of the Problem

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48
Q

The student should focus his attention on the key or central problem. The elimination of the central problem will eventually result in the elimination of other peripheral problems

A

Statement of the problem

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49
Q

Specify what the problem is by describing it very accurately in terms of four dimensions:

A

Location
Identity
Time
Extent

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50
Q

They are specifications by which alternative courses of action are developed

A

Objectives

51
Q

These are statements or functions to be performed or undertaken by the courses of action

A

Objective

52
Q

Types of objective:

A

Must or Short Range Objective

Want or Long Range Objective

53
Q

This objective sets the limits that cannot be violated by any alternative course of action

A

Must or Short Range Objective

54
Q

These objectives will help the manager recognize the screen out the impossible and poorer alternatives right at the outset

A

Must or Short-Range Objective

55
Q

These objectives are of absolute importance to the success of the decision and the survival of the organization

A

Must or short range objective

56
Q

These objectives should be attained within a year

A

Must or Short Range Objective

57
Q

This objective does not have absolute limits but express relative desirability

A

Want or Long Range Business

58
Q

They are of relative importance to the success of the decision but are less than absolute

A

Want or Long Range Objectives

59
Q

These objectives should be attained beyond a one year period

A

Want or Long Range Objectives

60
Q

When the student has determined what he considers to be the central problems and has defined his objective, he must proceed to organize the facts around the possible causes of the central problem

A

Areas of Consideration/Analysis

61
Q

This requires the separation of the significant areas from the unimportant ones, and the relevant to the irrelevant

A

Areas of consideration/analysis

62
Q

The analysis of each area must come from the personal opinion of the analyst and not from the case facts

A

Areas of consideration/analysis

63
Q

There are possible solutions to the problem

A

Alternative courses of action

64
Q

They are collections of what appear to be at the moment the best means of meeting the individual objectives.

A

Alternative courses of action

65
Q

It is giving back to the society

Donations deducted to income which is non-taxable

A

Corporate Social Responsibility (CSR)

66
Q

Minimizes electricity (help environment)
Waste SM Lucena recycled
Water treatment facilities at Funeraria Pagbilao (3 specific tanks)

A

Internal operations

67
Q

What if life is at stake?

Search for truth and doing what is right

A

Ethics

68
Q

Being responsible to the society for the betterment of the community

A

Ethics

69
Q

It is the moral and ethical content of managerial and corporate decisions over and above the pragmatic requirements imposed by legal principle and the market economy

A

Social responsibility

70
Q

It is concerned with low individuals and organizations deal with current social issues

A

Social responsibility

71
Q

The general public has a rather broad and all-inclusive definition of the social responsibility of business organizations

A

Social responsibilty

72
Q

The public seems to feel that managers and business organizations and should provide leadership in rebuilding cities, wiping out poverty, controlling crime, and cutting government red tape

A

Social responsibility

73
Q

Social responsibility of businessmen

A

Business organization

  • Government
  • Owners/Investors
  • Suppliers
  • Customers
  • Employees
  • Community
74
Q

Major arguments for social responsibility

A

Improve communities where it does business
Social actions can be profitable
Avoid government regulation
Increases viability of the business system
Ethical thing to do
Socio-cultural norms require it
Improves public image of the firm

Laws cannot be passed for all circumstances
Stockholder’s best interest
Society should give business a chance to solve social problems
Prevention of problems is better than cure
Business is considered to be the institution with the financial and human resources

75
Q

Major arguments against social responsibility

A 
Might be illegal
Business plus government equals monolith
Social actions cannot be measured
Violated profit maximization
Business lacks social skills
Cost is too great
Dilute business's primary purpose
Weaken the government's balance of payments
Business already has too much power
Business lacks accountability to the public
Lacks broad public support
76
Q

It deals with how individuals and organizations handle current social issues

A

Social responsibility

77
Q

They are concerned with day-to-day behavior standards of individuals and organizations

A

Business ethics

78
Q

They are standards or principles of conduct used to govern the behavior of an individual or group of individuals

A

Ethics

79
Q

They are generally concerned with questions of right and wrong or with moral duties

A

Ethics

80
Q

They can be developed by an individual, a group of individuals or society.

A

Ethical standards

81
Q

They are ethics formalized by a society; they are usually concerned with principles of conduct.

A

Laws

82
Q

They are generally deal more with the behavior of individuals or groups of individuals nog covered by the law

A

Business ethics

83
Q

Ten Commandments for Moral Executives

A

I. Thou shalt not bear false witness in the books and records of thy employer
II. Thou shalt not play games with numbers
III. Thou shalt speak the truth to thy boss, even though he may not want to hear it
IV. Thou shalt rattle on thy neighbor when he is doing something wrong
V. Thou shalt keep thine eyes wide open
VI. Sin not, nor help thy brother to sin, for thou art thy brother’s keeper
VII. Thou shalt not have two masters-thy boss and thyself
VIII. Thou shalt not seek to profit by use of thy employer’s confidences
IX. Honor thy father and thy mother, and in addition, thy auditors
X. Obey the real Ten Commandments

84
Q

Which embraces commerce and industry, is not an accidental human activity but an integral element of the social order.

A

Business

85
Q

Primary purpose of business

A

Meet society’s human needs by providing goods and services as efficiently as possible

86
Q

It is essentially an expression of human relationships; not only with those who work in the enterprise, but also with those who own and provide financial resources, with those who supply it with materials and services, with those who buy its products or services, with the government, and with the wider public whose lives are affected by the business activity

A

Business

87
Q

Some principled for the conduct of Business

A

Towards the employees
Towards the customers
Towards the suppliers
Towards the owners and other providers of capital
Towards the local government and national
Towards society in general

88
Q

The student must not remain content with pre-determined alternatives. He must strive for new and better solutions.

A

Alternative courses of action

89
Q

They must be mutually exclusive. They must be able to stand alone

A

Alternatives

90
Q

This is the final decision or recommended course of action

A

Recommendation

91
Q

Inaction or a status quo position

A

Indecision

92
Q

Make a detailed action plan to ensure the success of the decision or recommendation

A

Conclusion

93
Q

For each prospective serious trouble area, the student should set up corresponding preventive and contingency action. If prospective serious trouble areas could not be prevented, review other alternatives for final action

A

Conclusion

94
Q

Characteristics of a good action plan:

A

It is systematic
It is flexible
It is realistic

95
Q

Plans of action should be properly enumerated from the first plan to the last plan

A

It is systematic

96
Q

The plan must be capable of being carried out. An unrealistic plan causes frustration and is self-defeating

A

It is realistic

97
Q

A good plan should be flexible enough to be changed when change is called for

A

It is flexible

98
Q

Elements of an effective case presentation:

A

Planning the presentation

Making the actual presentation and the defense

99
Q

Reasons for planning presentations:

A

Occasion itself

Assures quality

100
Q

Planning a case presentation involves four basic steps:

A

Determining what you expect to accomplish
Considering means to secure audience interest
Anticipating questions you may be asked after the presentation
Gathering facts to answer anticipated questions

101
Q

This gives you a target at which to direct your presentation time and efforts.

A

Determining what you expect to accomplish

102
Q

Set the accomplishment down and keep your mind to it at all times

A

Determining what you expect to accomplish

103
Q

Basically focus on the audience’s interest, not yours. Be sure the entire presentation is audience-oriented

A

Considering means to secure audience interest

104
Q

There will be many. If you are caught off-guard, your total presentation will suffer and collapse. Have your answers ready

A

Anticipating questions you may be asked after the presentation

105
Q

It is paramount

A

Research work

106
Q

This step becomes simpler once you set down anticipated questions. There are many resources of fact-gathering

A

Gathering facts to answer anticipated questions

107
Q

Seven basic steps in making the presentation:

A

Give your audience the red carpet treatment
Get your audience’s attention
Watch your verbal language
Watch your body language
Use visual aids
Cover the business case completely
Answer the audience’s question satisfactorily

108
Q

Follow these rules when answering questions:

A 
Ask the person to restate the question
Listen attentively
Ask for an explanation of the question
Listen intently and do not interruptly
Use facts to answer the question
109
Q

They contribute to the performance of the business enterprise, and are therefore entitled to receive the proper worth of their contributions

A 
Management
Owner
Work force
Government
Suppliers
Customers
110
Q

They are financial, technological, and human

A

Human resources

111
Q

They have unique quality and should be employed in a manner consistent with personal dignity

A

Human resources

112
Q

It has a public responsibility to use all its resources efficiently

A

Business enterprise

113
Q

It is recognized as a fundamental incentive, and is necessary for the maintenance and growth of the enterprise, for raising the quality of life, and for helping meet the broader needs of society

A

Profit in a system of free enterprise

114
Q

They are essential for the maintenance and continuing improvement of the quality of goods and services, for growth and for technological progress

A

Competition

Inventiveness

115
Q

Those responsible for business policy should consider not only the interest of the owners of the business, but also the interests of those affected by the activities of the business.

A

Towards the employees

116
Q

Business shall recognize the unique position of employees as individuals with a vital stake in their work and at the same time with inherent obligations to their own families and provide:

A

Salary policy should be based on the right of employees
Fair recruitment practice
Job security, adequate compensation for employees
Safe and healthy atmosphere in the work environment
Conditions in which human potentials and relationships can be developed at all levels
Participate element

117
Q

Towards the Customers

Business shall, in the production of goods and services:

A

Strive after a quality
Avoid anything detrimental to health
Seek to apply of the inventions of science

118
Q

Towards the customers:

In its marketing arrangements, business shall:

A

Establish an after-sales commensurate
Deliver product and service in the quality, quantity and time
Ensure all mass media be informative and true

119
Q

Towards the suppliers

Business shall ensure:

A

Terms of all contracts be clearly stated and unambiguous
Abuse of economic power be avoided
No supplier can be encouraged to commit his resources

120
Q

Towards the owners and other providers of capital

In the interest of the owners and other providers of capital, business shall:

A

Provide adequate rate of return to contributing capital to the enterprise
Use their financial resources
Furnish owners and other providers of capital with such info
Pursue specific objective of owners and providers of capital

121
Q

Towards the local government and national

Although it is the responsibility of government to enact legislation and formulate implementing policies and programs, it is the sigh of the business:

A

Participate in the discussion of proposed legislation

Propose sound policies

122
Q

Toward society in general

Businessmen shall recognize in their decision making the interest of the general public, and realizing that they are utilizing to an important degree the nation’s resources shall:

A

Take regular stock of their response to the basic needs of society
Establish a policy to contribute to community service during work time
Do their best their resources benefits society
Pay proper regard to environmental and social consequences
Consider human and social cost of technology
Corporate citizens make such contributions

123
Q

Ethical principles of the Professional manager:

A

Be actively concerned with the problems of subordinates
Acknowledge his role
Reveal the facts to his superiors
Not tolerate any form of illegal data-gathering
Cooperate with colleagues
Avoid all abuse of executive power
Recognize that his subordinates have a right to information
Establish a policy regarding conflicts of interest
Fully evaluate the likely effects on employees

124
Q

Foundation of any business enterprise

A

Its people and character of its people

125
Q

It is suggested to those engaged in business that maximum benefit can be derived by three simple steps:

A

Examination, understanding and acceptance of the code by the policy makers
Policy makers develop detailed guidelines
Evaluation and regular audit of the implementation of the code

MN1101 (4 decks)

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