Studied by 0 peopleOne of the main functions of the legal procedure is to
Resolve Disputes
Marsha wants to invest her savings in a business. However, she wants to protect all of her personal assets. Which type of business ownership would be most appropriate for Marsha?
Corporation
Which of the following statements regarding company policies is true:
Company policies identify general company rules.
Before an individual can follow verbal directions, s/he must first be ready to
Listen
What is important to do when giving verbal directions to make sure the audience understands?
Ask Questions
It is most appropriate for business people to use complex, technical jargon when they are
Speaking with coworkers
You have a customer on the phone who always ends up talking about his personal life for far too long. Today, he's telling you a long story about his recent vacation. However, you have several other calls on the line and tons of work to do. How should you handle the situation?
Tell the caller you're happy to hear about his vacation, but you have to take another call.
When participating in group discussions, it is often helpful to
Appoint a leader
What should a business employee do before writing an informational message?
Identify the audience
Which of the following are characteristics of a well-written executive summary:
Clear, concise, and error free.
What information should be included in the recommendations section of an analytical report?
Benefits and risks.
Which of the following statements would be placed in the introductory section of a research report:
The purpose of this study is to determine why sales have been decreasing for three consecutive quarters
Alex is very skilled in building positive/client relations because he can express himself without offending others. Alex would be described as having
Tact
Kate's coworker Jack is meeting with a very important German client tomorrow. Kate has been to Germany several times, and tells Jack the German business people tend to be very formal and serious in business situations. After learning this information, Jack now knows that he should avoid
Using humor
Interpreting business policies to customers is usually easier if the business has created a _________ atmosphere
Friendly
Combining steel, glass, and other raw materials into a vehicle is an example of ____________ utility
Form
Monica has always loved to work with preschool children. She would like to open a day care center in her area. However, she does not have enough capital saved at this time. What business activity should Monica address first?
Financial analysis
"Brain drain" occurs when
A country loses talented workers to better opportunities overseas
Which of the following will foster a business's ability to adapt to changing markets:
Proactive market
Which of the following is most likely to be a result of competition:
Development of new products
Which of the following is a NEGATIVE effect on businesses of government regulation:
Additional expense and inefficiency are experienced
What organization helps union locals to become established, recruit new members, and negotiate with management?
National Union
To calculate total revenue, a business multiplies the number of units sold by
Average price per unit
The United States' business culture tends to embrace self-reliance and personal accomplishment, which are characteristics of
An individualists society
During a meeting with German business people, an American business person introduced a change to the agenda. Because the German business people were caught off guard by this change, they became upset, which indicates that German culture tends to
Have a low tolerance for uncertainty
Because Costa Ricans do not like to be kept waiting, it is important for business people to
Arrive at meetings on time.
Which of the following is an example of a Saudi Arabian custom that relates to gender:
Women are not permitted to drive a car
A business person offended a foreign client when s/he continuously made an insulting gesture. As a result, the client severed ties with the business person's company. This situation could have been avoided if the business person had
Taken the time to learn about the client's culture before the meeting.
Refusing to do things you really don't want to do is ___________ your self-esteem
Good for
As the manager of her own company, Brooke is able to guide the company and its employees in a desired manner. Brooke possesses the trait of
Leadership
What is often a positive result of accepting responsibility for a poor decision?
You gain others' respect.
To manage their work commitments in a timely manner, business people should
Estimate the time it takes them to perform their tasks
As a new employee, you receive constructive criticism about your job performance. This criticism is designed to
Improve your ability to do the job
Effective managers involve employees in planning changes because people who help to initiate changes are usually more _______ to those changes
Receptive
During a negotiation, a non-verbal behavior that indicates a negotiator's high level of confidence is
Direct eye contact
Which of the following is an indication that employees might be experiencing a lot of stress:
Being irritated when dealing with customers
Henry's been at his current job for five years. He doesn't really like it but doesn't want to look for a new job because he's so used to his one. Henry avoids adapting because of
Contentment
Naya truly cares about her coachee, Jamie, and she wants Jamie to succeed. Which of the following coaching characteristics does Naya illustrate:
Genuine concern for others
How does empathy help coworkers to be fair to each other?
Coworkers with empathy are better able to understand others
For an investment to yield positive results at the end of the investment period, the earnings should
Exceed the rate of inflation
Regular credit accounts are sometimes called open accounts because they allow
Credit users to buy at any time during a set period
What do many individuals establish when planning for future financial needs?
College fund
Ian's employer electronically places Ian's paycheck directly into his bank account every pay period. In what column on Ian's bank statement will he find these transactions?
Deposits and credits
Which of the following is the most likely action that the government takes when a person misses the deadline for filing his/her income tax return:
Penalty
The section of the marketing plan that should address where business will be located is the ____________ section.
Place
Two employees used a business's computerized accounting system to change some records. They were able to steal $50,000 from the business because the accounting system lacked which of the following:
Protection from theft and fraud
An estimate of a business's income and expenses for a specified period of time is a(n)
budget
What is an indicator of strong organizational ethics?
high trust and mutual respect
A computer program that captures the knowledge of experienced workers is known as a(n)
expert system
Because Robert is up for a promotion and wants to impress his manager, he will not share with his coworkers tacit knowledge that helps him efficiently perform his job. Robert's reason for not sharing the information relates to
personal gain
What do companies often use to assign and track various business tasks?
Accountability matrix
Corsica Steel Mill has developed a new process to reduce the time it takes to complete a phase of production. To legally protect this new process from unauthorized use, the company should obtain a
Patent
The belief that profitable sales volume will result from giving customers quality products at fair and reasonable prices is part of the
Marketing concept
Which of the following is the most efficient tool for gathering external information that businesses need:
Internet
Which of the following types of information should a business keep on file indefinitely:
Federal income tax returns
Information management can be a challenge because the business world is
Constantly changing
The capacity of combining graphics, text, animation, and sound is a unique characteristic of _____________ software programs.
Presentation
Which of the following functions in a spreadsheet software program allows the computer user to change the format of the data from ascending to descending order:
Sort
Project-management software can help business people allocate necessary resources and
Schedule tasks
Dale stores his customer records in a remote database that he accesses via the internet. Where does Dale maintain his customer files?
In the cloud
Why is it important for businesses to interpret statistical findings?
To obtain useful information
Plastico Manufacturing Company had to temporarily shut down one of its factories because it was emitting toxic chemicals into the air. Plastico was not complying with the community's
Environmental regulations
Which of the following is a true statement about safety hazards in the workplace:
Poor housekeeping can cause safety hazards
What must be determined before the work effort can be coordinated effectively?
The necessary tasks
Project management can benefit greatly from user-generated, user-updated websites called
Wikis
What should you develop during the process of identifying the people who have the skills that are needed to complete the project?
Job Description
One of the first steps that a business usually takes to develop a project plan is to
Identify needed resources
Isabelle asks Todd, one of her project-team members, if he has collected all of the information that he needs to start tabulating a survey. What project-management activity is Isabelle performing?
Monitoring
A business that wants to maintain positive, long-term relationships with its vendors should
Share relevant information
Elaine, a buyer for a large retail chain, places a paper-goods order with Sheets Paper Company, one of five paper suppliers she uses, because Sheets has the best prices and can ship the order tomorrow. This is an example of a(n) ____________ order
open
Why does a business keep stock on hand for resale?
To sell it to end users
Silence is an effective negotiating technique to use with a vendor when a business wants the vendor to
Make a concession
One of the benefits of production to consumers is that production
Creates form utility
Another term for quality is
Excellence
Which of the following is an area often used by consumers that a business must maintain on a regular basis:
Exterior sidewalk
A comprehensive report reveals that the Sabin Company can increase its data-entry outputs by 20% in a six-month period by installing the MMX software system. Sabin can use this type of business analysis to determine
How to increase its efficiency
Which of the following statements about creativity in marketing occupations is true:
Almost all marketing occupations involve creativity to some extent
John frequently lists or ranks the things he needs to do in order of importance. John is _________ his activities.
Prioritizing
Kate works closely with all the company's departments to develop computer software programs that enhance the business's ability to communicate and obtain data. Kate works in the area of
Business information technology
Which of the following characteristics are necessary for entrepreneurs to be successful:
Creativity and innovation
When preparing an interview follow-up letter, what might applicants include that they forgot to mention during the interview?
Important information
One of the reasons why networking is so effective is because the contacts often
Work at the company that is hiring
What tends to increase when all employees follow the company's rules of conduct?
Organizational cohesivesness
Sally is a production-line worker who is experiencing problems with the production equipment. Following the appropriate chain of command, Sally should report the problem to
Jim, the production-line supervisor
Which of the following provides the foundation for a business's overall planning and controlling activities:
Organizational goals
What do managers need to do to help employees understand their specific responsibilities in achieving the organizations goals?
Communicate priorities
In which component of the project's statement of work (SOW) would the following message most likely appear: "Due to the limited amount of time allocated to complete the study, the survey sample size may need to be reduced"
Constraints
Isabelle is developing a document that divides a long-term project into meaningful subprojects and tasks, which she will use to guide the workflow. Isabelle is developing the
Work breakdown structure
During a weekly status meeting, Tom said, "We've worked extremely hard and have made some tremendous progress on this stage of the project, so I am taking the the out to lunch next Wednesday" What project-management activity is Tom performing?
Rewarding
Releasing equipment, materials, and team members are tasks that are completed during the ____________ phase of the project.
Closing
What is a necessary component of quality-assurance activities?
Systematic process
The Six Sigma quality management framework involves monitoring improvement processes by analyzing
Quantitative information
A potential benefit to businesses that implement continuous quality improvement processes is
Increased sales
How can a business reduce risks that are associated with a poor public image:
Implement an ethics program
What type of risk-management technology can track individual traders' risk limits and notify management immediately if any trader exceeds her/his present limit?
Automated oversight
Risk retention groups are typically only allowed to offer _____________ insurance coverage.
Liability
The process of managerial planning typically helps to
Maximize resource efficiency
Which of the following is the management function that focuses on matching the appropriate person with the necessary skills for a specific job:
Staffing
What management function involves motivating and encouraging an employee?
Directing
Inspecting raw materials before using them to produce finished good is an example of ___________ control.
Feedfoward
Note
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