bus 100 final corrections

Ming is a summer intern at a Ford assembly plant. Managers at the plant recently introduced an employee suggestion box, where employees could submit ideas on how to improve the plant. Ming overhears one of the managers commenting that production at the plant has increased by 5%, and the only employee suggestions that have been implemented are an additional 15-minute break once workers reached half of their daily quota and new items added in the break-room vending machine. Ming knows that production has increased for which of the following reasons?

The implementation of ideas from the employee suggestion box makes workers feel like they are an important part of the organization, as demonstrated by the Hawthorne studies.

After hammering out a tentative contract with the company, the union representatives present the agreement to union members to be voted on. What is this step in the collective bargaining process known as?

ratification

You manage a team of factory supervisors. After this year’s performance appraisals, you had to terminate one of your supervisors for consistently falling below established standards. Terminating the employee is an example of using performance appraisal to accomplish which of the following objectives?

making employee decisions

New employees at Disney World spend their first several days learning Disney’s customer service standards. They do this by meeting as a group and listening to lectures from experienced cast members and managers at Disney World. What is this type of training known as?

classroom teaching

Since the expiration of the last labour contract, union workers at Regal Products have been working without a contract. However, after management cancels negotiations with the union, workers walk off the job. What negotiating tactic does this represent?

strike

Your department is hiring a new engineer for the first time since the company launched several new products. Because the requirements for engineers in your department have changed since last year, you ask the current engineers to document their responsibilities and tasks. Which of the following are you currently engaged in?

performing a job analysis

Which of the following is NOT a difference between Maslow’s theory and the ERG theory?

Maslow recognizes that needs can overlap, whereas Alderfer does not 

The results of an employee satisfaction survey at The Shoe Company show that employees are generally dissatisfied. According to Herzberg's theory, if managers at The Shoe Company wanted to increase employee satisfaction, which of the following would be effective in doing so?

increase employees hourly pay

Teanna sells hand-painted wood signs for $30 each. If her cost of producing each sign is $7, which of the following is $23?

gross profit

On an income statement, revenue less cost of goods sold (COGS) equals which of the following?

gross profit

Which ratio would tell you if the company has sufficient short-term assets to pay its short-term liabilities?

current ratio

If your liabilities total $448,000 and owner's equity totals $1,542,000, what do your assets total?

$1,990,000

Your company just started offering a profit-sharing plan, which could increase your total compensation by as much as 30% if the company does well. This form of compensation is classified as which of the following?

an incentive

Jackson has noticed that his top machinist is getting bored in his job because it has involved the same set of tasks for 10 years. Jackson decides to reconfigure the production line so this employee can be assigned a new mix of tasks that better fit his skill set and the organization’s needs. This is an example of which of the following?

job redesign

Kendra meets with her manager midyear to discuss the progress she is making toward her goals. Unfortunately, Kendra’s manager does not think Kendra has made appropriate progress. He decides to offer Kendra additional training on a computer program that would be helpful in achieving her goals. What stage of MBO does this reflect?

implementing an action plan

Assume Pizza Hut allows franchises in various countries to utilize local preferences when designing the menu for that country. Using the insights of employees in these countries to develop products is an example of how a diverse workforce accomplishes which of the following?

provides a marketing edge

John works for Samsung. His tasks involve travelling to nearby colleges, informally interviewing graduating students, and inviting the most promising candidates to an office visit. Which phase of the HRM process does this represent?

acquisition

Simone has worked as an editorial assistant at a magazine publisher for the last six months. Her boss is impressed with her dedication and hard work, and suggests that Simone learn about other parts of the publishing business. He has arranged for Simone to spend time working in design and layout, advertising sales, and production. What is this type of job enrichment called?

job rotation

Indigo would like to know how effectively it uses resources to generate profits. Which of the following ratios would Indigo use?

net income/revenue

Although employees at a local grocery store are satisfied, they seem unmotivated. The store manager has several ideas on how to increase his employees’ motivation. Which of the following is the best choice?

create an employee-of-the-month program

You have been a sales manager for five years and would like to move up. Your VP of Marketing sends you to a one-week conference that teaches advanced skills in negotiation, persuasion, and conflict management. Your fellow attendees at the conference come from all different industries and job positions. Which of the following are you currently undergoing?

development-related training

The product team for Scrubbie Soap cannot agree on the best way to promote the new product. Each member of the team has developed successful campaigns for other products, but together the members can’t seem to reach consensus on Scrubbie Soap. This is an example of which pitfall of teamwork?

team conflict

Guresh wants to know about the skills and experience needed to qualify for the management position he saw posted on the Loblaws website. This would be found in which portion of a job listing?

job specification

When the National Football League players were not able to negotiate a suitable contract, they stopped playing until an agreement could be reached. This is an example of which of the following?

strike

While performing background checks on your top three candidates, you find that one of them has a criminal record that she did not disclose on her application. As a result, she is eliminated from consideration for the job. This describes which step in the recruiting process?

checking references

In cold weather wind turbine blades can become coated in ice buildup, which negatively affects their performance and can even damage the turbine. Inspired by mint and lotus leaves, a team came up with a solution that could prevent drag-inducing frost from building up on wind turbine blades, thereby improving their efficiency and reliability in cold climates without the use of chemical deicing agents. Frost Safe Wind Turbines is a proposal to retrofit existing turbines by laser-engraving the blades with a pattern that mimics the texture of mint leaves, which resist ice buildup. What does this exemplify?

biomimicry

Vikram’s boss demoted him when he did not meet sales goal for the month. What does this demotion exemplify?

punishment

Rodney’s Plumbing purchases a vanity, toilet, shower enclosure, faucets, and plumbing supplies for a major bathroom renovation job. Rodney has to pay the supplier but does not expect to be paid by the customer until he has completed the job. This is an example of which of the following?

negative cash flow

Larry has decided to buy a laptop, so he spends some time reading product reviews online and asking his friends what they like and dislike about their laptops to get a better idea of what type of laptop he wants to buy. Which step in the consumer decision process does this illustrate?

searching for alternatives

Kraft sets up a stand inside a supermarket and hands out samples of its new jalapeno-flavoured cheese along with a coupon for 50 cents off the purchase. Which of the following is likely to be Kraft's objective for this sales promotion?

encourage trial of the product

What is the most expensive but also most adaptable method of the promotion mix?

personal selling

Your company produces digital activity trackers. What is the break-even point if fixed costs are $5000, variable costs are $50, and the activity trackers sell for $120?

72 units

For a corporation such as Rogers Communications, what are the two primary advantages of equity financing?

There is no obligation to pay dividends or to repay the money obtained from the sale of stock.

You would like to start a small photography business. You own a nice camera, but you need to purchase some additional equipment in order to get your business started. You approach your parents and offer them 10% equity in your business for a $2300 investment. Given these numbers, what do you feel your company valuation is?

$23,00

What is the chief advantage of primary data?

relevant to the problem at hand

Apple uses premium pricing for products and its prices are rarely discounted. This suggests that Apple has which of the following pricing objectives?

to communicate brand value

What does Tyson mean when he says that the software company he and his college roommate started is going to “go public”?

the company will be selling shares of its stock on the open market for the first time

Arm & Hammer launches a campaign to extend the life of its baking soda products through improved packaging and new uses in products such as toothpaste and cat litter. These new uses of products and other modifications are generally created during which phase of the product life cycle?

maturity

The humane society provides a document to the media touting how much adoptions have increased over the past six months as a result of its reduced adoption fees. Which type of public relations tool does this represent?

press release

All Star Sporting Goods seeks short-term financing to complete much-needed repairs on its retail store. All Star decides to offer up its inventory as collateral in return for a $20,000 from the bank. Which of the following does this exemplify?

a secured loan

Biogenics Inc. is a fast-growing biotech company. What is Biogenics likely to do with any profits it generates?

reinvest them in Haverting to finance growth

Just Sweet Enough Manufacturing produces inexpensive, low sugar candy bars. The company would probably choose which of the following to reach its target market?

intensive distribution

Which of the following are funds obtained through loans or the issuance of corporate bonds?

debt financing

Procter & Gamble is considering an idea for a new liquid laundry detergent that contains a whitening agent. The company presents its ideas to a group of potential customers in order to obtain their feedback. Which phase of product development does this represent?

product analysis

Danika has a dog boarding and grooming business. She purchases grooming supplies and dog food from a supplier and takes delivery; however, she has 30 days within which to pay the supplier’s invoice. This is an example of which of the following?

trade credit

As 3D printers enter the growth stage of the product life cycle, which of the following marketing strategies should producers of 3D printers adopt?

build brand by advertising, dropping prices, and increasing distribution