Question 1 All of the subsequent are physical resources EXCEPT

• Raw materials
• A robotic welder
• Labour used in production
• An inventory of finished goods
• An office building

Question 2 In Florida, a vacationer could select from over 200 timeshare resorts. In Vermont the select is limited to 15. A resort in Vermont has

• The power of buyers.
• The power of suppliers.
• The threat of new entrants.
• Competitive rivalry.
• The competitive advantage.

Question 3 Which of the subsequent is the MOST significant action that top managers can take to promote ethical behaviour?

• Lobby for legislation dealing with ethics
• Adhere to ethical standards themselves
• Punish those who are unethical
• Establish organizational policies
• Establish a fair performance appraisal system

Question 4 Which of the subsequent is the type of economy most countries in the world are striving to attain?

• Mature market economy
• Industrializing economy
• Communist economy
• Developing market economy
• Command economy

Question 5 Planning is the procedure by which managers identify alternative courses of action that the organization might follow if numerous conditions arise.

• Strategic
• Standard
• Contingency
• Integrative
• Goal optimization

Question 6 Sam wants to begin a new business. With which of the following approaches of starting a new business will he pay a share of the income from the business in return for the use of such things as trademarks as well as business formulas?

• Venture capitalism
• Franchising
• Buying an existing business whose purchase price includes goodwill
• Starting a new business with loans from the SBA
• Industrial revenue sharing

Question 7 Is definite as clear and distinct lines of authority between all positions in an organization.

• Autonomy
• Delegation
• Chain of command
• Span of management
• Departmentalization

Question 8 The..........requires payment of energetically to employees who work more than 40 hours per week

• Equal Pay Act
• Workmen's Compensation Act
• Fair Labor Standards Act
• National Labor Relations Act (Wagner Act)
• Labor-Management Relations Act (Taft-Hartley Act)

Question 9 Throughout which stage of group development do members try out various forms of behaviour in an attempt to test the waters as well as see what will be acceptable in the group?

• Norming
• Storming
• Forming
• Performing
• Conforming

Question 10 The elementary purpose of control is

• To cope with organizational complexity
• To adapt to environmental changes
• To minimize costs
• To limit the accumulation of error
• All of the above