business mock exams z moodle (oba semestry wszystkie pytania) | Quizlet

Management is entirely scientific. Management skills can be learnt at university, so there are a lot of excellent managers. True or false?

False (management also involves human skills, so excellent managers are rare)

In the 1960, American psychologist Douglas McGregor developed two contrasting theories of managenent -- Theory X and Y -- and presented them in his book The Human Side of Enterprise. True or false?

True (D. McGregor was a social psychologist and his famous book was The Human Side of Enterprise)

Jack Welch was the CEO of Ford. Every year he fired 10% of the company's managers. True or false?

False (he was the CEO of General Electric)

The market value of a company is always the same as its book value = the recoreded value of its tangible assets (e.g. buildings, machinery, etc). True or false?

False (The market value of a good company is often higher than its book value. That is because the worth of a brand can be much greater than a company's physical assets)

In South America or in such European countries as Spain or Italy the dominant type of behaviour and communication is:

multi-active

Customers' needs are generally constant, so companies don't change their product mix too often. True or false?

False (Just the opposite. Customers' needs are evolving, so companies need to re-evaluate and change their product mix)

Classify the industries as belonging to specific sectors:

Banks

Financials

Steve Jobs was the co-funder and later the CEO of Microsoft. True or false?

False (Steve Jobs was the co-funder and later the CEO of Apple)

Akio Morita was the co-funder and then the CEO of Sony. True or false?

True

Classify the industries as belonging to specific sectors:

Electric utilites

Utilities

Theory Y makes an assumption that people have to be controlled, forced and threatened to deliver work. True or false?

False (that is Theory X)

Abraham Maslow's hierarchy of desires is a motivational theory in psychology comprising a five-tier model of human desires, often depicted as hierarchical levels within a pyramid. True or false?

False (it is a hierarchy of needs, not desires)

Theory X reduces workers to "cogs in a machine," and likely demotivates people in the long term. True or false?

True

Theory X managers have an optimistic, positive opinion of their people, and they use a decentralized, participative management style. This encourages a more collaborative, trust-based relationship between managers and their team members. True or false?

False (that is Theory Y

A product is just an object, like a pair of tennis shoes, a car, or a hamburger. True or false?

False

Among people of Vietnam or Japan the dominant type of behaviour and communication is:

reactive

Classify the industries as belonging to specific sectors:

Insurance

Financials

In a public limited company (Br) or corporation (US) it is the company that is responsible for any losses, not the owners. The shares can be sold to the public on the stock exchange. True or false?

True

Classify the industries as belonging to specific sectors:

Food and drug retailing

Consumer staples

Classify the industries as belonging to specific sectors:

Leisure equipment and products

Consumer discretionary

A social position that a person can acquire on the basis of merit and is earned. It reflects personal skills, abilities, and efforts. An example of such a status is that of an Olympic athlete, a criminal, or a college professor.

achieved status

According to the Lewis Model, the communication style typical of the Polish culture could be placed on the continuum between the linear-active and the reactive pole. True or false?

False (linear-active and the multi-active pole)

Maslow's hierarchy of needs:

First going from the top:

self-actualization needs

Maslow's hierarchy of needs:

Second going from the top:

esteem needs

Maslow's hierarchy of needs:

Third going from the top:

love and belonging needs

Maslow's hierarchy of needs:

Fourth going from the top:

safety needs

Maslow's hierarchy of needs:

Fifth going from the top:

physiological needs

According to Peter Drucker, the work of a manager can be divided into 5 tasks: planning, organizing, integrating, measuring performance, and developing people. True or false?

True

A limited liability company is owned by one person who is responsible for any debts. True or false?

False

In a ......... two or more people run the business together. All partners share profits and losses.

partnership

A ........... is a type of business in which the business owner allows other people called franchisees to set up business using the company's brand name, products and reputation.

franchise

......... sector - the sectors of the economy including agriculture and the extraction of raw materials from the earth.

primary

........... sector - the sectors of the economy including the commercial services that help industry produce and distribute goods to the final consumers, as well as education, healthcare, leisure, etc.

tertiary

........... -- a sector of industries comprised of those companies which sell the most common consumer products, such as food, beverages, housewares, clothing, tobacco and prescription drugs.

consumer staples

............ -- a sector of companies that offer goods that are considered to be non-essential. These goods include such items as automobiles and apparel, which is the opposite of companies that produce food.

consumer discretionary

Manufacturing is the transformation of .......... materials into ............ goods. Some industries use the term ............ in place of "manufacturing".

raw, finished, fabrication

The ............. is elected by the shareholders and is responsible to them. But the members are not involved in running the company. Their main interest is "the big picture".

board of directors

The acronym PLC stands for:

Public Limited Company

............'s hierarchy of needs -- a motivation theory which suggests five independent levels of basic humans needs that must be satisfied in a strict sequence starting with the lowest level.

Maslow

Management that believes in the assumptions of ............ creates stick-and-carrot approach based firms with restrictive discipline and pervasive controls. Believers of ............ create trust based firms with empowered employees. These concepts were introduced by ..........

Theory X, Theory Y, Douglas McGregor

The acronym CEO stands for:

Chief Executive Officer

............... is a term that describes the adaptation of global products, services, or businesses to suit local preferences and cultural contexts. It is the blending of global and local influences, allowing companies to maintain a global presence while tailoring their offerings to cater to the specific needs and tastes of local markets.

Glocalization

.................. cultures -- according to the Lewis Model, those people are talkative, impulsive types who attach great importance to feelings, emotions, relationships and people-orientation. In business, relationships and connections are seen as more important than rules and regulations.

multi-active

................. cultures - are generally organized and rational, act logically rather than emotionally, plan in advance, and respect the rules, regulations and contracts.

linear-active

.............. -- a list of all employees and how much each of them earns.

payroll

............... -- the activity of discretely approaching employees of one company and asking them if they want to work for another company.

headhunting

............. process - the formal process by which an employee's performance is measured and discussed by a supervisor.

appraisal

.............. is a form of variable-pay remuneration for services rendered or products sold. It is a common way to motivate and reward salespeople. It is often a specified percentage on each sale.

commission

The acronym IPO stands for:

Initial Public Offering

The acronym AGM stands for:

Annual General Meeting

Classify the industries as belonging to specific sectors:

Oil and gas

Energy

These cultures prioritize explicit and direct communication, relying on verbal expression over non-verbal cues or shared context. Messages are clear, precise, and require minimal interpretation or cultural background knowledge.

low-context cultures

According to Maslow, needs higher up in the hierarchy may be satisfied first, before individuals have satisfied lower needs. True or false?

False

Classify the industries as belonging to specific sectors:

Food and beverage

Consumer staples

Today the perception that a consumer has about the company or product is not important in defining the notion of "brand". True or false?

False

In cultures such as Britain, the US or Germany the dominant type of behaviour and communication is:

linear-active

The term "curriculum vitae" or CV is used more often in Britain, while "resume" is more commonly used in the US. True or false?

True

A sole proprietorship is a company owned by shareholders. Shares may be sold to the public at the stock exchange. True or false?

False

Classify the industries as belonging to specific sectors:

Fibre-optic

Communication services

Frederick Herzberg argued that "hygiene factors" motivate workers. True or false?

False (Hygiene factors can satisfy or dissatisfy workers, but they do not motivate them.)

"Confirmation bias" means that interviewers are unconsciously biased towards individuals who resemble the stereotype or prototype that they have in their heads about what a good candidate should look like. True or false?

True

Classify the industries as belonging to specific sectors:

Metals and mining

Materials

Classify the industries as belonging to specific sectors:

Household and personal products

Consumer staples

Classify the industries as belonging to specific sectors:

Semiconductors and semiconductor equipment

Information Technology

In this business deal two independent companies voluntarily combine to form a new, singular legal entity. Typically they are both of a similar size and scope and stand to gain from the transaction. They happen for a variety of reasons, for example: reducing costs, improving management, lowering tax liabilities.

merger

The key objective of branding is to create a relationship of trust. True or false?

True

Procter & Gamble is a very well-known company in the household and personal goods sector. It has 22 different product ............. including baby care, cosmetics, household cleaners, laundry, oral care, etc. The combination of these makes up P&G's product ......

lines, mix

P&G has many well-known ........... names such as Ariel, Pampers, Pantene, but notice that the ............. is not always the same as the company name.

brand, brand

P&G spends a large marketing ........... to maintain the brand ............. of its customers - it wants them to be satisfied and committed to further purchases. But even larger sums are needed when it launches a new product. Then brand .............. has to be built up from zero.

budget, loyalty, recognition

What about P&G's pricing policy? Well, they are the market ..............., so they don't have to set artificially low prices to gain sales volume and the market .............. Instead, they can focus on profitability - maximizing revenue and minimizing costs.

leader, share

Write the name of the first stage of the standard product life cycle.

introduction

Write the name of the second stage of the standard product life cycle.

growth

Write the name of the third stage of the standard product life cycle.

maturity

Write the name of the fourth stage of the standard product life cycle.

decline

An economic cycle, also referred to as the ........... cycle, has four stages.

business

An economic cycle, also referred to as the business cycle, has four stages: .........., ..........., .......... and ...........

expansion, peak, contraction, trough

During the .......... phase of the product life cycle, the economy experiences relatively rapid growth, interest rates tend to be low, production increases and inflationary pressures build.

expansion

The ........... of a product life cycle is reached when growth reaches its maximum output.

peak

Peak growth during the product life cycle typically creates some imbalances in the economy that need to be corrected. This correction occurs through a period of ............... when growth slows, employment falls and prices stagnate.

contraction

The .............. of the cycle is reached when the economy hits a low point in growth from which a recovery can begin.

trough

The four P's of marketing mean: product, price, place and promotion. True or false?

True

The analysis of the wider business environment is called the PEST analysis (acronym) (including political, economic, social, and technological factors). True or false?

True

Making false declarations to the tax authorities is called tax evasion and is illegal. True or false?

True

The peak is the month when the contraction transitions into the expansion phase. True or false?

False

The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP). True or false?

True

Investors who buy shares of a company become part owners of that company. True or false?

True

Companies use an investment bank to underwrite the stock issue, that is to guarantee to buy the stocks if there are not enough buyers. True or false?

True

Stocks represent ownership in a publicly traded company. True or false?

True

When you buy a company's stock, you lend money to that company. True or false?

False (you become part-owner of that company)

After the IPO, stockholders have to keep their shares for ever. True or false?

False (they can resell their shares on the stock market at any time)

On the stock market the prices of stocks are regulated by the government and the central bank. True or false?

False (on the stock market the prices of stocks are driven by supply and demand)

The Federal Open Market Committee in the United States is an institution which is similar to "Rada Polityki Pieniężnej" in Poland. True or false?

True

The trough phase is when the economy is at its best. True or false?

False (peak - best, trough - worst)

Companies that want to issue bonds use investment banks to find investors. True or false?

True

GDP = Gross domestic product is the monetary value of all the finished goods and services produced within a country's borders in a specific time period. True or false?

True

Bonds are repaid at 100% when they mature, unless the borrower is insolvent. True or false?

True

Bondholders get all their money back if a company goes bankrupt. True or false?

False (bondholders MIGHT get SOME of their money back)

FOMC (Federal Open Market Committee) executes fiscal policy for the US government. True or false?

False (FOMC executes monetary policy)

The phases of the business cycle always occur at regular intervals. True or false?

False

Bond coupons are generally lower than share dividends. True or false?

True