Introduction to Business Study Guide Questions
Course Introduction
Introduction to Business provides an overview of the foundational concepts and principles that govern the operation and management of modern organizations. This course explores the various functions of business, including management, marketing, finance, accounting, human resources, and entrepreneurship. Students will gain insight into the role businesses play in the economy, ethical and global considerations, and the impact of technology on business operations. Through real-world examples, case studies, and discussions, the course equips students with the knowledge and skills necessary for informed decision-making and career exploration in the dynamic world of business.
Recommended Textbook
Fundamentals of Management Essential Concepts and Applications 10th Edition by Stephen P.
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2671 Verified Questions
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Chapter 1: Managers and Management
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Sample Questions
Q1) Which of the following is NOT a characteristic of a small business?
A)has more formal managers than a large business
B)has about 200 employees
C)is not a "player" with impact within its industry
D)has a relatively small market share of its product
Answer: A
Q2) A finance manager who reads the Wall Street Journal on a regular basis would be performing which role?
A)leader
B)monitor
C)disseminator
D)liaison
Answer: B
Q3) Mintzberg developed his ten managerial roles by ________.
A)sending out questionnaires to thousands of managers
B)observing hundreds of managers over several years
C)closely monitoring the work activities of five chief executives
D)using common sense to analyze the situation
Answer: C
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Page 3
Chapter 2: The Management Environment
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Sample Questions
Q1) Theodore and Janice have formed TJ Soft, an entrepreneurial venture to develop games and other kinds of software for consumers.Theodore has just gotten wind from a highly reliable source that games involving animals and ecosystems are likely to be extremely "hot" in the coming year.Theodore is excited because TJ Soft has two games in development that fit the animal/eco niche perfectly.Which component of the external environment will affect TJ Soft the most in this situation?
A)the demographic component
B)the political component
C)the sociocultural component
D)the global component
Answer: C
Q2) Why were the Baby Boomers so much more influential than other generations with respect to changing American tastes and culture?
A)The Baby Boomers came after World War II when lifestyles were really changing.
B)The Baby Boomers were a much more coherent group than other generations.
C)The Baby Boomers were a much larger group than other generations.
D)The Baby Boomers were a much more free-spirited group than other generations.
Answer: C
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Chapter 3: Integrative Managerial Issues
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Sample Questions
Q1) Which of the following best characterizes a transnational corporation?
A)a single central home-country management
B)an organization in which multiple operations function with a large degree of autonomy
C)a loose alliance of totally separate, wholly independent companies
D)a company that eliminates geographical boundaries
Answer: D
Q2) In a strategic alliance, companies join together to form a separate entity to produce a product.
A)True
B)False
Answer: False
Q3) Multinational corporations maintain significant operations in two or more countries simultaneously.
A)True
B)False
Answer: True
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Chapter 4: Foundations of Decision Making
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Sample Questions
Q1) Software programs that use a series of questions to aid humans in decision making are called ________.
A)text reading software
B)expert systems
C)group systems
D)support software
Q2) Which term best characterizes a decision that has bounded rationality?
A)virtually perfect
B)rigorous and comprehensive
C)not good enough
D)just good enough
Q3) A football coach makes the decision to punt or not to punt on fourth down based on whether he is past his own 50-yard line.Which decision-making method does the coach use?
A)a policy
B)a hunch
C)a procedure
D)a rule
Q4) In a short essay, list and discuss the first four steps in the decision-making process.Give an example of each step.
Page 6
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Chapter 5: Foundations of Planning
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Sample Questions
Q1) Together, an organization's resources and core competencies make up which of the following?
A)core philosophy
B)competitive weapons
C)core assets
D)fundamental beliefs
Q2) The final three steps in the strategic management process involve the creation and implementation of strategies for realizing organizational goals.
A)True
B)False
Q3) In traditional goal setting, as they work their way from top management to employees, goals are likely to ________.
A)become more clear
B)be more rigorously followed
C)be unchanged
D)become more specific
Q4) In general, upper-level managers focus on tactical or operational planning.
A)True
B)False
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Chapter 6: Organization Structure
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Sample Questions
Q1) A media company that has separate, autonomous companies for movies, TV, Internet, and print journalism is most likely a ________ structure.
A)divisional
B)functional
C)simple
D)matrix
Q2) Early users of work specialization in the early twentieth century found that the practice ultimately resulted in ________.
A)higher profits and better employee morale
B)bored workers with low morale
C)huge and permanent productivity gains
D)better communication among employees
Q3) Traditional organizational designs tend to be more mechanistic and include ________.
A)simple, complex, and divisional structures
B)simple, functional, and dysfunctional structures
C)functional, divisional, and vertical structures
D)simple, functional, and divisional structures
Q4) In a short essay, list and discuss three common forms of departmentalization.
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Chapter 7: Managing Human Resources
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Sample Questions
Q1) Prior to setting up the interviews for the executive position, Frances spent a great deal of time analyzing the position and determining what skills, attitudes, and actions it would require.This lengthy review is called a ________.
A)job description
B)job specification
C)job title
D)job analysis
Q2) This is the goal of employment planning.
A)selecting competent employees
B)obtaining competent employees with up-to-date skills
C)obtaining competent and high-performing employees
D)selecting high-performing employees only
Q3) A performance appraisal method that combines two other well-known methods into one process is called ________.
A)written essay
B)360-degree feedback
C)graphic rating scales
D)BARS
Q4) In a short essay, discuss on-the-job training methods.
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Chapter 8: Managing Change and Innovation
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Sample Questions
Q1) In organizations, people who act as catalysts and assume the responsibility for managing the change process are called ________.
A)managers
B)change agents
C)change managers
D)nonmanagerial employees
Q2) Older workers tend to resist change more than younger workers because they ________.
A)have less invested in the current system
B)have more invested in the current system
C)have confidence in themselves
D)have less to lose
Q3) Stress from an employee's personal life can best be helped by this.
A)job redesign
B)MBO
C)employee assistance programs
D)performance planning programs
Q4) Kurt Lewin sees the first step in change as the freezing of the status quo.
A)True
B)False
Page 10
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Chapter 9: Foundations of Individual Behavior
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Sample Questions
Q1) The ________ component of attitude is based on emotions.
A)cognitive
B)behavioral
C)affective
D)action
Q2) A person rating high on the investigative personality type would have the best match with which job?
A)nurse
B)mechanic
C)reporter
D)counselor
Q3) Which of the following is a visible aspect of an organization?
A)attitudes
B)interpersonal conflicts
C)intergroup conflicts
D)objectives
Q4) Personality is defined as a unique combination of behavioral, emotional, and thinking patterns that each person has.
A)True
B)False
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Chapter 10: Understanding Groups and Managing Work Teams
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Sample Questions
Q1) Which of the following would a self-managed work team be LEAST likely to do?
A)select all projects it works on B)make decisions
C)implement decisions it makes D)assign tasks
Q2) Work teams that perform at a high level typically fill ________ different team roles. A)six B)eight C)nine D)ten
Q3) On successful teams, individuals rarely play more than one role. A)True B)False
Q4) Members of a virtual team never actually communicate with one another. A)True B)False
Q5) Groups tend to go through five stages as they develop. A)True B)False
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Chapter 11: Motivating and Rewarding Employees
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Sample Questions
Q1) Over-rewarded inequity exists when one's own outcomes-to-input ratio ________ that of the referent.
A)is greater than B)is less than
C)is equal to
D)is greater than or equal to
Q2) Which of the following is true of the three early theories of motivation?
A)Maslow focuses on job satisfaction.
B)McGregor focuses on the basic needs of the individual.
C)Both McGregor and Herzberg focus on human nature.
D)McGregor focuses on positive and negative assumptions about human nature.
Q3) Workers with a Theory X point of view would be most likely to respond to ________.
A)kindness
B)a hands-off approach
C)fear of losing their job
D)freedom to modify their job
Q4) Persistence is the amount of drive and intensity a person applies to a task.
A)True
B)False
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Chapter 12: Leadership and Trust
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Sample Questions
Q1) Which leadership style works best with an R2 type of follower?
A)participating
B)selling
C)telling
D)delegating
Q2) Which of the following is an accurate statement about transformational leaders?
A)They are poor motivators.
B)Their organizations suffer from high turnover rates.
C)Their organizations are highly productive.
D)Their organizations are not productive.
Q3) The Ohio State studies indicated that leaders who were high in initiating structure received ________.
A)the highest employee ratings
B)the lowest employee ratings
C)the same employee ratings as leaders who were high in consideration
D)below-average employee ratings
Q4) A major goal of behavioral leadership studies is to find ways to train people to be leaders.
A)True
B)False
Page 14
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Chapter 13: Managing Communication and Information
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Sample Questions
Q1) Verbal intonation is a form of ________.
A)verbal communication
B)body language
C)nonverbal communication
D)facial expression
Q2) Which of the following accounts for people's minds wandering while they listen to a speaker?
A)Listeners listen at a slower rate than speakers speak.
B)Listeners listen at the same rate that speakers speak.
C)Listeners listen at a faster rate than speakers speak.
D)Listeners adjust their listening rate to the speaker's rate.
Q3) When is it strongly recommended that a speaker use language that is highly simplified?
A)when both the listener and speaker speak the same language
B)when both the listener and speaker speak different languages
C)when both the listener and speaker speak English
D)when both the listener and speaker speak a language other than English
Q4) A channel is an actual physical product.
A)True
B)False
15
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Chapter 14: Foundations of Control
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Sample Questions
Q1) In a short essay, describe concurrent control and give an example of its use.
Q2) Control measures in two different locations in different parts of the world are always comparable.
A)True
B)False
Q3) This has proved to be very helpful in establishing culpability in sexual harassment cases.
A)monitoring phone calls
B)monitoring emails
C)monitoring employee whereabouts
D)monitoring Internet use
Q4) In a short essay, describe the second step in the control process.
Q5) The control management function ensures that ________ in an organization.
A)goals are set
B)goals are met
C)plans are made
D)plans are realistic
Q6) Direct supervision is the best-known form of concurrent control.
A)True
B)False
Page 16
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Chapter 15: Operations Management
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Sample Questions
Q1) Managers in the United States today see this as the path to establishing and maintaining global leadership.
A)reducing costs
B)increasing production
C)operations management
D)scientific management
Q2) Apple's problems with the battery of the highly successful iPod show how important ________ is for a product.
A)efficiency
B)design
C)quality
D)productivity
Q3) ISO 9000 certification provides proof that a quality operations system is in place in a facility.
A)True
B)False
Q4) In a short essay, discuss technology's role in manufacturing.
Q5) Value chain management is efficiency oriented.
A)True
B)False
Page 17
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Chapter 16 : History Module
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Sample Questions
Q1) Perhaps the best predictor of whether or not a person will become an entrepreneur is how ________ she is.
A)proactive
B)talented
C)likeable
D)desperate
Q2) At an entrepreneurial organization, job candidates are more likely to hear about ________ than they will at conventional organizations.
A)benefits
B)monetary compensation
C)advancement through the ranks
D)learning opportunities
Q3) This is an important part of researching a firm's feasibility.
A)exploring finance options
B)researching the legal business forms
C)pinpointing potential competitive advantages
D)identifying potential opportunities
Q4) In a short essay, describe how an entrepreneur who is reluctant to empower employees might go about the process.
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Chapter 17: Quantitative Module
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Sample Questions
Q1) Robert Owen was greatly concerned with how workers were treated in factories of the Industrial Revolution.
A)True
B)False
Q2) The idea of employees being paid a fair wage for their services did not emerge until the 1960s.
A)True
B)False
Q3) Which of the following is a contingency variable?
A)how successful an organization is
B)how large an organization is
C)how well known an organization is
D)how well managed an organization is
Q4) A contingency variable that can affect managing style is organization size.
A)True
B)False
Q5) The Industrial Revolution marked the birth of management.
A)True
B)False
Q6) In a short essay, describe how the work of Abraham Maslow influenced management.
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Chapter 18: Career Module
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Sample Questions
Q1) A company has a current ratio of 0.85 to 1.What should a manager in the company worry about?
A)The company has too many assets and is not using them efficiently.
B)The company has too much inventory.
C)The company may start to have trouble paying salaries.
D)The company is paying salaries that are too high.
Q2) Which of the following best defines regret in a payoff matrix?
A)Regret refers to the difference of the sum of the values in a chosen strategy and the sum of the best strategy.
B)Regret refers to the difference of the sum of the values in a chosen strategy and the sum of the worst strategy.
C)Regret refers to the sum total of the sum of the values in a chosen strategy and the sum of the best strategy.
D)Regret refers to the extra amount of money that could have been made had the person chosen a different strategy.
Q3) In a short essay, explain how the break-even point (BE)changes with variables TFC (total fixed costs), P (unit price), and VC (variable cost per unit).
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Page 20
Chapter 19: Entrepreneurship Module
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Sample Questions
Q1) An individual with a college degree earns ________ than a person without a college degree.
A)over $20,000 more per year
B)over $800,000 more per year
C)almost $28,000 more per year
D)no more
Q2) Volunteer work is important to today's college graduates.
A)True
B)False
Q3) Generally speaking, the more ________ a job requires that you have actually acquired, the better off you are.
A)technical skill
B)writing skill
C)speaking skill
D)training
Q4) In a career, major accomplishments often require a person taking ________.
A)the path more traveled
B)the path less traveled
C)the straightest path
D)a circuitous path
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