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 important 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 process by which managers classify alternative courses of action that the organization might follow if various conditions arise
• Strategic
• Standard
• Contingency
• Integrative
• Goal optimization
Question 6 Jay wants to start a fresh business. With which of the subsequent methods 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 and 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 defined as clear as well as distinct lines of authority among all positions in an organization.
Autonomy
Delegation
Chain of command
Span of management
Departmentalization
Question 8 The _____ requires disbursement of overtime 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 and see what will be acceptable in the group?
Norming
Storming
Forming
Performing
Conforming
Question 10 The basic 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