Business Managment Final

Question 1

If a potential candidate’s references are positive, typically the next step to hire someone is:

Answer 1

Offer Letter

Question 2

Tuition reimbursement as part of the perks for a specific position is called:

Answer 2

Benefits

Question 3

What important task must be considered when beginning the recruiting process?

Answer 3

Create a job description, figure out what an ideal candidate looks like, create the compensation and benefits

Question 4

What is the goal of recruiting?

Answer 4

Make work easier for both employees and the company

Question 5

Which law prohibits employment and discrimination based on race?

Answer 5

Civil rights act

Question 6

Which of these constitutes a valid reason not to hire someone

Answer 6

Personality

Question 7

What is the process of finding and hiring the best candidates for any given open position

Answer 7

Recruiting

Question 8

What is a quick way to check if an applicant is a good fit for your job?

Answer 8

Phone interview

Question 9

What is the “perfect applicant” called ?

Answer 9

Purple squirrel

Question 10

What is not included in a job description?

Answer 10

Interview times

Question 11

True or false: employee engagement can negatively impact employee turnover

Answer 11

False

Question 12

What is a result of low employee engagement? 

Answer 12

High turnover

Question 13

What would most likely appear in an employee break room? 

Answer 13

Suggestion box

Question 14

How do employees need to feel before they’ll really contribute to the growth of the company

Answer 14

Involved

Question 15

Management typically has more experience than employees that report to them. Why do employee opinions matter?

Answer 15

Employees who feel heard are more engaged and productive, ideas may be more valued because they are close to the action

Question 16

Example of a website you can review companies to for is:

Answer 16

Glassdoor

Question 17

Things that affect an organization outside of it are called:

Answer 17

External environment

Question 18

We talked about these external environments

Answer 18

Stable, dynamic, complex

Question 19

Internal environment is:

Answer 19

Cultures

Question 20

Company culture aspects talked about

Answer 20

Company mission, employee involvement, adaptability

Question 21

What managerial practice is vital to the growth of your employees, managers and business?

Answer 21

Employee supervision

Question 22

What is the form of communication where the person focuses on what the other person says and repeats back what they heard?

Answer 22

Active listening

Question 23

What are part of employee supervision?

Answer 23

Communication, mentoring, encouragement

Question 24

Ways to require employee accountability

Answer 24

State your desired results, identify required action, state what you believe to be important

Question 25

Goals of employees within an organization

Answer 25

Getting rich, doing a good job, getting promoted

Question 26

What can a manager do that would create a negative work environment

Answer 26

Keep achievements between the employer and employee only

Question 27

To create a sense of self-respect and self-fulfillment a manager can:

Answer 27

Offer monthly free lunches, create a company, sports team, and allow personal effects in the office

Question 28

What are ethics

Answer 28

Set of moral principles or values that define right and wrong for people 

Question 29

What is one way you can find out ethics of a person you want to hire? 

Answer 29

Personality based integrity tests. 

Question 30

Why should companies be socially responsible

Answer 30

Because people tend to support socially responsible companies financially, because employees want to do the right thing and socially responsible companies have a better public image

Question 31

What was created with the idea that there is strength in numbers?

Answer 31

Unions

Question 32

What is a reason workers will go on strike

Answer 32

Pay, benefits, and ill treatment 

Question 33

What is the process reunions negotiate with employers on behalf of the employees? 

Answer 33

Collective bargaining

Question 34

What is a work advance brought about by unions

Answer 34

Five day work week, increase in workplace safety measures and child labor laws 

Question 35

What was the large reason for the decline of unions at the end of the 20th century? 

Answer 35

Manufacturing jobs moving out of the country

Question 36

What is a pitfall of planning that we discussed

Answer 36

It can stop change and slow needed adaption

Question 37

What is the process of defining problems, evaluating alternatives and choosing optimal solutions

Answer 37

Rational decision- making

Question 38

What are some benefits from planning

Answer 38

Increased buy- in

Question 39

What type of conflict gets personal rather than professional

Answer 39

A-Type conflict

Question 40

What is a real-world example of a strike we talked about

Answer 40

WGA strike

Question 41

What do we call the amount of money or income that a company gets from its customers?

Answer 41

Revenue

Question 42

A concession stand sells a hotdog for two dollars and makes a .50 $ profit how much is the cost of good sold? 

Answer 42

$1.50

Question 43

If a company is described as being in the red, it means

Answer 43

The company is losing money

Question 44

The income statement is designed to measure

Answer 44

A companies performance over a certain period of time

Question 45

The accounting equation is

Answer 45

Assets = liabilities plus equity

Question 46

What is another word used to describe a companies liabilities?

Answer 46

Debts 

Question 47

To calculate a companies, profits, what must be subtracted from its revenue

Answer 47

Expenses 

Question 48

What graph that we talked about shows and S curve

Answer 48

Technology cycle

Question 49

What is a risk of not changing

Answer 49

Organizational decline, in action stage and bankruptcy

Question 50

What is one piece of technology we talked about being replaced

Answer 50

Music like cassettes CD and streaming

Question 51

True or false evaluation of a request for proposal is based solely on price 

Answer 51

False

Question 52

Written details about cost time period and quality standards describes

Answer 52

A contract

Question 53

A variable cost is

Answer 53

A different amount each month

Question 54

Making sure the company has enough production capability to meet demand is an example of which concept

Answer 54

Capacity planning

Question 55

Which of the following is not used to calculate the cost of good sold and manufacturing businesses 

Answer 55

Ticket cost

Question 56

What is the term used to describe the cost to produce package and deliver an item?

Answer 56

Cost of goods

Question 57

What starts the bidding process

Answer 57

Invitation to bid

Question 58

What was a type of departmentalizing we talked about

Answer 58

Customer income and matrix departmentalization 

Question 59

What is a way we discussed on how to get employees satisfied with their jobs

Answer 59

Jab rotation, job, enlargement, and job enrichment 

Question 60

What is empowerment

Answer 60

Feeling intrinsically motivated and feeling like their work has meaning

Question 61

The ability of a company to enhance its existing products and create new ones is called

Answer 61

Flexibility

Question 62

What is a key objective of operations management?

Answer 62

Dependability quality flexibility

Question 63

What is defined as the processes involved in getting products from suppliers through the process to the customers? 

Answer 63

Supply chain

Question 64

Operations management is concerned with managing business processes that improve the products and services customers use

Answer 64

True

Question 65

What is an objective of operations management

Answer 65

How quick products get to the market how much products will cost and quality of products

Question 66

Reducing what can reduce costs and lead to higher profit margins

Answer 66

Waste

Question 67

Teams discussed

Answer 67

Virtual teams project teams in cross functional teams 

Question 68

What are informally agreed on standards that develop overtime with a team

Answer 68

Norms

Question 69

Conflict always leads to negative outcomes

Answer 69

False

Question 70

The positives of working in teams always outweigh the negatives

Answer 70

False

Question 71

Sales revenue is calculated by:

Answer 71

Number of sales X average customer sale price

Question 72

What is an example of a monthly recurring expense

Answer 72

Utilities

Question 73

According to what we talked about, how many months of expenses should you plan for

Answer 73

Six

Question 74

For which type of pricing do you add up fixed costs, direct costs, and indirect costs and add a markup?

Answer 74

Cost plus pricing

Question 75

Example of direct costs

Answer 75

Labor and material costs

Question 76

Which is greater, net profit or gross profit

Answer 76

Gross profit

Question 77

The quantity of a product that has to be sold before you break even it

Answer 77

Break even volume

Question 78

What is an example of an illegal interview question

Answer 78

Have you ever been arrested?

Question 79

What is an example of a performance appraisal mistake

Answer 79

Central tendency error, halo error, leniency error 

Question 80

Compensations with ownership in the company are

Answer 80

Profit, sharing employee stock, ownership, plans, and stock options 

Question 81

What is the name given to a policy that combines all of a businesses insurance policies?

Answer 81

Business owners pol

Question 82

Insurance involved the transfer of what to third-party

Answer 82

Risk

Question 83

What do we call the contractually agreed-upon amount of money that accompany pays for insurance coverage?

Answer 83

Insurance premium

Question 84

What’s the term used for the amount that an employee must pay for medical or dental care before insurance starts to pay

Answer 84

Deductible

Question 85

What term refers to purposeful steps taken to create opportunities to minorities or women?

Answer 85

Affirmative action

Question 86

Which was not a reason we discussed as a positive for diversity in the workplace

Answer 86

Smaller and easier pools of applicants to choose from

Question 87

What kind of diversity looks at personality and attitude things that can’t necessarily be seen

Answer 87

Deep level diversity

Question 88

The workplace is estimated to raise diversity of women and minorities

Answer 88

True

Question 89

The name given to the amount that insured employee is responsible for pain when they visit a medical service

Answer 89

Copay

Question 90

When a business has financial loss like a fire, they need to file a

Answer 90

Claim

Question 91

What is the form of business ownership in which two or more people jointly own a business?

Answer 91

Partnership

Question 92

Limited liability corporation is a form of business that is not available in each state

Answer 92

False

Question 93

The CEO of a company is hired and fired by whom

Answer 93

Board of directors

Question 94

Which form of a business has no liability, where if you sued you could lose both personal and corporations assets

Answer 94

Proprietorship

Question 95

What is the name of a person who owns part of a corporation?

Answer 95

Shareholder

Question 96

What is an example of intrinsic motivation

Answer 96

Working hard because you like the company you work for

Question 97

What is an example of extrinsic motivation

Answer 97

Working hard because you have been promised to raise if production improves

Question 98

What else is not considered when talking about job performance

Answer 98

Pay

Question 99

What is the base of Maslow’s hierarchy of needs

Answer 99

Physiological needs

Question 100

An example of higher-order diversity need would be

Answer 100

Challenges