Mid-Term Practice Quiz

What is the role of small businesses in the U.S. economy?

What does SWOT stand for?

Why do firms engage in strategic analysis? (8.1)

In the context of Porter's model, what does "Threat of Substitutes" refer to?

The Hawthorne studies showed that

How did you feel about the decision making exercise?

Choices/decision-making processes and moral principles/values that govern our behaviors regarding what is right & wrong

How does the GLOBE project differ from Hofstede's framework?

Which of these funding sources would a "Shark" from Shark Tank be considered?

Michael is known for his ability to understand peoples' emotions. Michael can be rated high on which of these elements?

How do individuals in societies with low individualism (high collectivism) view success?

Which are at the top of the hierarchy and are responsible for the entire organization and its strategic direction?

Which of these holds that people set their own moral standards for judging their actions, based on self-interest?

Which business-level competitive strategy focuses on offering products/services at a lower price than competitors?

 What is the most common size category for established small businesses in terms of the number of employees?

For managers, ___skills refer to having the ability to use the tools, procedures, and techniques of their special areas.

Which is NOT a category of the managerial roles?

When Sylvia finds the product output is below the projected target & takes the corrective actions to remedy the crisis.

Which of the following represents the first step in any decision-making process?

________ are desired goals, objectives, or end states that individuals wish to pursue.

In Simon Sinek's TED Talk, he referenced the Golden Circle and emphasized that it's not WHAT you do, it's __________?

What does the Uppsala model suggest about internationalization?

Follett says in _______, neither side gets everything it wants and can just obtain a result that each can agree to.

Which of the following describe a shortcoming of Taylor's work?

When we pay more attention to info that agrees with our beliefs and not information that is contrary to our beliefs

Which is NOT a factor considered when defining small businesses in the United States?

3BL (Triple Bottom Line) relates to which of the 3-Ps?

The tendency to remain committed to poor decision, even when doing so leads to increasingly negative outcomes refers to

In this role, managers seek to improve their businesses, adapt to market conditions, & react to opportunities presented.

What does the VRIO analysis help managers determine about a firm's resources and capabilities?

Obstacles that hinder a new firm's entry into an industry are called:

In high power distance societies, how do subordinates typically view authority figures?

What trait was viewed positively by all clusters, irrespective of national culture, according to the GLOBE project?

Why can small businesses respond fairly quickly to changing economic conditions?

 ______ are preferred means of behavior used to obtain one's goals.

Which of these describes a belief that corporations have a social responsibility beyond pure profit?

Olamede passes information to his faculty and staff about new policies through memos and emails, he is acting as a

Which of the following use teams to combine vertical with horizontal structures?

Decision making is limited with incomplete information & our capacity to process all the information, this is known as

According to Mintzberg, which of the following role is interpersonal?

 What has been the trend in business ownership rates among entrepreneurs?

A formal statement concerning ethics and social issues which communicates to employees what the company stands for is a:

Which organization is a major source for tracking U.S. entrepreneurial growth activity?

Which entry approach involves sending a company's product to an international market and filling orders?

In Bill Gross's TED Talk he showed how the single most important factor in whether or not a start up succeeds is:

Which invention during the Italian Renaissance allowed the emergence of new knowledge to spread throughout Europe?

This level in the heirarchy needs to be equally skilled in conceptual, human, and technical areas.

Organization focuses on relationships, team building, commitment, development, engagement, mentoring, coaching, etc.

Which of the following is an element of economic forces?

______ organizational structures are for environments that range from stable and simple to low-moderate uncertainty.

Which of the following is an element of government and political forces?

________ intentionally takes on the role of critic.

What is foreign direct investment (FDI) in international business?

We discussed in class that many companies are now hiring based on ________ instead of education or direct experience.

Which of the following represents a duty-based approach, and considers the welfare and risks of all parties.

What does the "V" stand for in VRIO analysis?

What does a firm's micro environment primarily consist of?

Organization focuses on results, competition, achievement, and getting the job done

Which of the following represents an "ends justifies means" for the greatest good for the greatest number?

the tendency to select the first acceptable solution without engaging in additional effort to identify the best solution

What do organizations like the SBA and the TSBDC do?

Decisions that are repeated over time and for which an existing set of rules can be developed to guide the process are

Which term best describe mental shortcuts?

Buying a house can be described as which of these?

What does the macro environment primarily consist of?

Who is known as the father of scientific management?

Kotter studied a number of successful general managers over a 5 year period and found that they spend most of their time

Which is organized by departments and expertise areas, such as R&D, production, accounting, marketing, & human resources

Which country is credited for the birth of Management as a field of study?

Which of the following is not a type of entrepreneur mentioned in the text?

What is the primary drawback of licensing and franchising as entry methods?

Which of the following is NOT one of Porter's Five Forces in the model?

 What is the key difference between entrepreneurship and small-business management?

What is the primary goal of cross-cultural training?

Environmental scanning requires managers to be vigilant about changes in:

Supervisor receives direction from the managers above them and passes that information down to their immediate employees

The Romans' contribution to management was

Which environmental forces include different generations' values, beliefs, attitudes, customs/traditions, habits, etc.

We talked about AI being used in business as a recent ethical issue. Why is this?

The McKinsey 7-S Model outlines how Strategy, Structure, Systems, Skills, Staff, and Style combine to influence ________

What do political factors in PESTEL analysis include?

Elizabeth does windshield installation, and that is her only task on the assembly line. This is an example of

When group members choose not to voice their concerns/objections to keep the peace and not annoy or antagonize others.

When one assumes that all people within a culture act, think, and behave the same way, they are engaging in

What made a high level of trade and economic activity possible for the ancient Sumerians?

The extent to which trade and investments, information/cultural ideas, and political cooperation flow between countries

Workers need merely to be unconcerned with an order to follow it due to natural tendency to follow authority?