Principles of Management Exam Bank
Course Introduction
Principles of Management introduces students to the fundamental concepts, theories, and practices that underpin effective management in contemporary organizations. The course covers essential topics such as planning, organizing, leading, and controlling, while exploring the roles and responsibilities of managers in various organizational settings. Students will examine decision-making processes, organizational structures, strategic planning, motivation, leadership styles, and communication techniques. Through case studies and real-world examples, the course emphasizes the practical application of management principles to address challenges and leverage opportunities in dynamic business environments.
Recommended Textbook
Business Essentials 9th Edition by Ronald J. Ebert
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16 Chapters
2037 Verified Questions
2037 Flashcards
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Chapter 1: The Us Business Environment
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) The global business environment encompasses many international forces that influence the outcomes of companies doing business in foreign countries. Which of the following scenarios would best count as evidence of globalization?
A) Diamonds mined in Country X are sold on the markets in Country Y. The proceeds are then used to fund a coup against the government in Country X.
B) A natural disaster disables factories in Country X that produce computer chips for Company Y. Company Y reduces the number of employee shifts and raises the price of its products.
C) Farmers in Country X have lost most of their wheat crops due to a drought. The market price for wheat triples and the government pays the farmers for a percentage of the lost wheat.
D) Country X has almost mined all of its available natural energy sources. The government has been investing in alternative energy research for years and now an efficient synthetic energy source has been developed.
E) Country X has raised the tax on oil products. As a result more people are taking public transportation and reducing unnecessary car travel.
Answer: B
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Chapter 2: Business Ethics and Social Responsibility
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135 Verified Questions
135 Flashcards
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Sample Questions
Q1) What is the most effective step that a company can take to promote ethical behavior?
A) conduct frequent comprehensive audits of all financial information
B) have employees sign a code of conduct upon hiring
C) demonstrate top management support of ethical standards
D) publicize efforts to become more ethical
E) survey employees on their personal ethical codes
Answer: C
Q2) How do issues of social responsibility and ethics affect small business?
Answer: Small businesses must address more or less the same issues as big businesses-the differences are primarily differences of scale.
Explanation:Small businesses must address many of the same issues of social responsibility and ethics as big businesses.
Q3) MKD Transportation's managers strongly believe in consumer rights. What does this mean?
Answer: MKD managers recognize that customers have a right to have access tisafe products, to be informed and educated about products, to be heard, to choose what they buy, and to receive courteous service.
Explanation:
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Page 4
Chapter 3: Entrepreneurship, New Ventures, and Business Ownership
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145 Verified Questions
145 Flashcards
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Sample Questions
Q1) Why is it difficult to compare relative job growth for different-sized businesses?
A) Sourcing up-to-date employment figures is difficult.
B) Many small businesses experience rapid unreported growth.
C) Spheres of influence overlap between the small and big business sectors.
D) Staff size of small businesses tends to change faster than staff size of big businesses.
E) It is hard to determine the cutoff point at which a small business becomes a large business.
Answer: E
Q2) Which of the following factors most contributes to small business failure?
A) managerial incompetence or inexperience
B) bad product design
C) legal problems
D) time spent raising capital
E) personnel issues
Answer: A
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Page 5
Chapter 4: The Global Context of Business
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128 Flashcards
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Sample Questions
Q1) Which of the following, if True, would strengthen the argument for exporting the company's products to China?
A) Lite Foods has a large budget set aside for foreign direct investments.
B) Lite Foods wants to have strict control over its international operations.
C) Lite Foods has to modify its product line to suit Chinese tastes and preferences.
D) Lite Foods' products do not have a "healthy" reputation in the United States.
E) Lite Foods has significant excess capacity that results in production overruns.
Q2) The U.S. government forbids the importation of cigars from Cuba. What is this practice called?
A) embargo
B) tariff
C) subsidy
D) business practice law
E) local content law
Q3) Revenue tariffs are primarily designed to discourage the importation of foreign products.
A)True
B)False
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6
Chapter 5: Business Management
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125 Verified Questions
125 Flashcards
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Sample Questions
Q1) Which of the following, if True, would weaken the Product Director's argument?
A) The project manager with the weakest technical skills also has the weakest human skills.
B) The Prensabi project is so large that the project manager for the Prensabi project will be unable to take on any other projects until the Prensabi project is finished.
C) The requirements of the Prensabi project are highly unusual.
D) The project manager with the strongest technical skills has no experience with motion-capture technology.
E) The project manager with the strongest conceptual skills has the weakest technical skills.
Q2) Which of the following is the best example of unrelated diversification?
A) Ford Motor Company merging with General Motors
B) Northwest Airlines merging with Procter & Gamble
C) McDonald's merging with Burger King
D) Tootsie Roll merging with Hershey
E) Bath and Body Works merging with The Body Store
Q3) Discuss the three broad levels of strategy that organizations may implement.
Q4) Why is it important for Donna to be setting goals?
Q5) What is the difference between a goal and a strategy?
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Chapter 6: Organizing the Business
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Sample Questions
Q1) Accountability refers to the liability of subordinates for accomplishing tasks assigned by managers.
A)True
B)False
Q2) A divisional structure relies on functional departmentalization.
A)True
B)False
Q3) Which term refers to the specification of jobs to be done within an organization and the ways in which those jobs relate to one another?
A) delegation
B) a mission statement
C) job specialization
D) role responsibility
E) organizational structure
Q4) Briefly describe the five basic forms of departmentalization.
Q5) The matrix form of organizational structure was pioneered by NASA.
A)True
B)False
Q6) List three factors that may affect a manager's span of control.
Q7) List and describe the three forms of authority.
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Chapter 7: Operations Management and Quality
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148 Verified Questions
148 Flashcards
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Sample Questions
Q1) Managers of a restaurant eat at a competing restaurant in order to identify desirable improvements in their own operations; this illustrates quality control.
A)True
B)False
Q2) An assembly line is an example of a custom-products layout.
A)True
B)False
Q3) ISO 14000 may result in a recycling program at a company.
A)True
B)False
Q4) Save-A-Lot grocery stores use which type of strategy for attracting customers?
A) flexibility
B) quality
C) low-cost
D) dependability
E) consistency
Q5) What is quality ownership?
Q6) Explain time, place, and form utility.
Q7) What is an operations capability?
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Q8) How are General Motors and Chrysler responding to current economic conditions?
Chapter 8: Employee Behavior and Motivation
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Individuals may satisfy social needs by making and maintaining friendships at work.
A)True
B)False
Q2) Jack is a manager at StyleCo. His CEO has started a program that encourages employee empowerment. Jack presented the idea to his staff, and the employees seem reluctant to take part. Jack tells his CEO that his staff is not interested in empowerment. What assumption is Jack making that the CEO needs to take into account?
Q3) Which of the following is assumed by the manager?
A) The meetings would be more effective if they were held once a week.
B) The staff meetings are not the cause of the workers' bad moods.
C) If the workers make valuable contributions, then the meetings will be successful.
D) Successful meetings will be an important contributor to the success of the organization.
E) The workers' moods will be more positive at 10 am than at any other time of the day.
Q4) Under what conditions might the use of work teams be inappropriate?
Q5) What are some potential consequences of employees being dissatisfied?
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Page 10
Chapter 9: Leadership and Decision Making
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) Which of the following, if True, would strengthen the Manager's argument?
A) Many other corporations have adopted ACME's definition of leadership.
B) ACME's cross-functional team structure allows individuals to influence other people despite a lack of direct authority.
C) Most of the company's leaders have come from the Sales Department, and relatively few have come from the Quality Control Department.
D) ACME's Human Resources Department makes outstanding efforts to recruit a diverse group of employment candidates.
E) Executives at ACME are often recruited to serve in leadership positions at other organizations.
Q2) Describe how the behavioral approach to leadership could apply to the situational approach to leadership.
Q3) Describe a situation in which a leader would choose a more transactional approach to her leadership over a more transformational one.
Q4) Most leaders can successfully demonstrate transactional and transformational leadership.
A)True
B)False
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11
Chapter 10: Human Resource Management and Labor Relations
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120 Verified Questions
120 Flashcards
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Sample Questions
Q1) In setting wage and salary levels, a firm may start by looking at competitors' levels. A)True
B)False
Q2) Which of the following, if True, would most strongly support beginning a thorough performance appraisal of the Foothill locations by reassessing performance criteria?
A) Corporate practice has always been to reassess performance criteria on an annual basis.
B) The performance goals used by Foothill are quite different from those used by Cashcorp.
C) The Cashcorp CEO would like to see the new Foothill locations increase their assets by at least 15 percent.
D) The two best performers among the Foothill branches are the most recently opened, and its employees have the fewest years of service with the firm.
E) Employees at Foothill have been with the firm an average of twelve years.
Q3) How do organizations develop workers' skills?
Q4) What are the two types of sexual harassment as defined by the courts?
Q5) What does a job analysis entail?
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Chapter 11: Marketing Processes and Consumer Behavior
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130 Verified Questions
130 Flashcards
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Sample Questions
Q1) While watching your favorite sitcom, you see an actor holding a particular brand of beer. This is an example of product placement.
A)True
B)False
Q2) What is the term that encompasses a good, a service, or an idea designed to fill a consumer need?
A) product
B) firm
C) want
D) utility
E) condition
Q3) Congress has conducted hearings on the use of cell phones while driving. What factors would this constitute in a company's external environment?
A) political-legal
B) sociocultural
C) technological
D) competitive
E) demographic
Q4) Explain the elements that comprise the marketing environment.
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Chapter 12: Pricing, Distributing, and Promoting Products
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129 Verified Questions
129 Flashcards
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Sample Questions
Q1) The only goal of determining prices is to maximize profit for the firm.
A)True
B)False
Q2) Why is water the least expensive mode of transportation?
Q3) Which of the following pricing strategies best describes price lining?
A) setting an initial low price to establish a new product in the market
B) setting an initial high price to cover new product costs and generate a profit
C) setting individually negotiated prices for certain categories of products
D) setting a limited number of prices for certain categories of products
E) setting individually negotiated prices for all categories of products
Q4) Home Shopping Club and QVC are examples of which of the following retail sales outlet?
A) direct selling
B) video marketing
C) electronic shopping
D) virtual selling
E) telemarketing
Q5) List one advantage of using trucks for transportation and one disadvantage.
Q6) What is cost-oriented pricing?
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Chapter 13: Information Technology for Business
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125 Flashcards
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Sample Questions
Q1) Computer-aided design (CAD) can increase the productivity of knowledge workers.
A)True
B)False
Q2) Electronic commerce (e-commerce) is popular with consumers but has hurt productivity.
A)True
B)False
Q3) The application of electronic technologies for searching, sifting, and reorganizing pools of data to uncover useful information is called data warehousing.
A)True
B)False
Q4) Identify the threats and risks information technology poses on businesses.
Q5) Explain the principle of mass-customization.
Q6) What are keyboards, monitors, and printers examples of?
A) control
B) hardware
C) software
D) databases
E) servers
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Chapter 14: The Role of Accountants and Accounting Information
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117 Verified Questions
117 Flashcards
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Sample Questions
Q1) A firm's financial accounting system is only concerned with external users of information.
A)True
B)False
Q2) Which of the following terms refers to the amount paid for an existing business beyond the value of its other assets?
A) goodwill
B) excess compensation
C) licensing
D) asset promotion
E) liability deduction
Q3) A company's owners invested $10,000 total into the company, which made a profit of $3,500 last year. Its total liabilities are currently at $7,000. What is the value of the total assets of this company?
A) $3,000
B) $3,500
C) $6,500
D) $13,500
E) $27,500
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Chapter 15: Money and Banking
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Sample Questions
Q1) The Federal Reserve System has been instrumental in providing interbank clearing of electronic payments for the nation's financial institutions.
A)True
B)False
Q2) The reason why a savings account is not considered a component of the M-1 money supply is that it bears interest.
A)True
B)False
Q3) Regarding the international payments process, which statement is True?
A) In international trade, money will flow from the country with the strongest currency to that of the weakest.
B) The World Bank monitors the trade of its members to insure that money is flowing properly between the various countries.
C) The World Bank monitors the national banks of its members to insure that money is flowing properly between the various countries.
D) By international law, international trade must involve money flowing between two countries.
E) Money does not actually have to flow between two countries.
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17
Chapter 16: Managing Finances
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Sample Questions
Q1) Dynamo Motors has begun to sell corporate securities. Dynamo is required by law to offer future investors the opportunity to read a document that contains complete information on both the new issue and the corporation itself. What is that required document called?
A) book report
B) affidavit
C) prospectus
D) order blank
E) corporate profile
Q2) Differentiate between market value and book value.
Q3) New stocks and bonds are sold in what market?
A) private placement market
B) secondary market
C) primary market
D) tertiary market
E) open market
Q4) What do angel investors receive in return for their investment?
Q5) The investment industry categorizes firms according to size of capitalization.
A)True
B)False
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