Which of the following is a reason for outsourcing?

To reduce costs by relocating jobs to other countries

Corporate social responsibility (CSR) encourages companies to…

Include environmental and social concerns in business operations

What does the term 'exports' refer to?

Goods and services produced at home and sold abroad

Which of these is an example of automation?

Using machines to replace workers

What is the definition of international trade?

Exchange of goods and services between countries

What is typically the focus of a mission statement?

Purpose and values of the organization

What are the four types of planning in business?

Strategic, tactical, operational, contingency

What does SMART stand for in goal setting?

Specific, Measurable, Achievable, Realistic, Timely

What is the main goal of organizational structure?

Define roles and streamline workflow

What is the most effective way to ensure understanding in business communication?

Providing feedback and clarification

The employment-at-will doctrine states that…

An employer can terminate an employee for any reason at any time.

studbud

Honors Management & Leadership Final Exam Review

90 termsStudBud Administration10 plays

Test your knowledge on various management theories, functions, and skills essential for effective leadership and organization management.

Flashcards90 cardsFPractice quizPHost liveL

Questions 90

Answers

1
What kind of planning focuses on short-term objectives (1–3 years)?
Strategic planning
Operational planning
Visionary planning
Tactical planning
2
Which of the following is a reason for outsourcing?
To reduce costs by relocating jobs to other countries
To increase trade barriers
To increase domestic employment
To comply with safety regulations
3
Which of the following would be considered a strength in a SWOT analysis?
Strong brand identity
High employee turnover
Rising competition
Unreliable supply chain
4
An interview where two or more interviewers ask questions is called a stress interview.
True
False
5
Corporate social responsibility (CSR) encourages companies to…
Maximize profits only
Focus solely on shareholder value
Hire more employees regardless of qualifications
Include environmental and social concerns in business operations
6
Law forbids employers from hiring, promoting, or firing employees based on race, ethnicity, color, religion, or gender?
Americans with Disabilities Act
Civil Rights Act
Equal Pay Act
Age Discrimination in Employment Act
7
Which element of a SWOT analysis focuses on trends or shifts the company can leverage?
Weaknesses
Strengths
Threats
Opportunities
8
Which managerial function involves setting objectives and deciding how to achieve them?
Organizing
Controlling
Planning
Leading
9
Passive listening involves hearing but not processing or understanding the message.
False
True
10
Which of the following is a direct stakeholder?
A community group
A competitor
A customer
A government official
11
Employees terminated due to poor performance are usually eligible for unemployment.
True
False
12
A key component of Management by Objectives (MBO) is:
External benchmarking
Cost reduction
Collaborative goal setting
Top-down management
13
Trade deficit occurs when a country exports more than it imports.
True
False
14
A stakeholder who is not directly involved in daily operations but is impacted by the company's actions is a(n):
Direct stakeholder
Board member
Internal stakeholder
Indirect stakeholder
15
What does the term 'exports' refer to?
Goods received from foreign countries
Goods sold to domestic consumers
Goods and services produced at home and sold abroad
Services produced abroad
16
Which of these is an example of automation?
Hiring more workers
Hiring international consultants
Using machines to replace workers
Offering on-the-job training
17
Rate at which an employee transforms labor and materials into a finished good or service is referred to as productivity.
True
False
18
What is the definition of international trade?
Trading only raw materials
Selling goods only in domestic markets
Exchange of goods and services between countries
Government control of foreign companies
19
Which of the following is a potential benefit of ethical business practices?
Legal fines
Poor media coverage
Customer trust
Increased employee turnover
20
Which of the following is NOT a good listening skill?
Interrupt when confused
Ask clarifying questions
Maintain eye contact
Show interest
21
The process of hiring, training, compensating, and developing employees is called…
Labor Relations
Human Resource Management
Operations Management
Employee Planning
22
What is typically the focus of a mission statement?
Purpose and values of the organization
Vision for expansion
Long-term financial goals
Investment strategy
23
What is the main purpose of contingency planning?
Hire new employees
Plan for unexpected events
Increase daily efficiency
Focus on marketing strategies
24
Which type of listening involves engaging, offering input, and body language?
Selective Listening
Active Listening
Passive Listening
Empathetic Listening
25
Feedback is essential to ensure that a message is understood.
False
True
26
Most managers utilize aspects from several theories of management to fit the employees they are managing.
False
True
27
CSR is mainly concerned with increasing immediate profits.
False
True
28
Strategic planning is handled by top-level management.
False
True
29
What are the four types of planning in business?
Strategic, tactical, operational, contingency
Daily, weekly, monthly, yearly
Primary, secondary, tertiary, quaternary
Executive, marketing, legal, operational
30
What type of skill is most needed by lower-level managers to perform daily job functions?
Human skills
Technical skills
Conceptual skills
Strategic skills
31
Which of the following means employers can be held legally liable for wrongful actions taken by their employees?
Transferred liability
Vicarious liability
Exchange liability
Inherited liability
32
What kind of planning focuses on goals to be achieved in 3 or more years?
Tactical
Action
Strategic
Operational
33
Tactical planning focuses on mid-range strategies.
True
False
34
In a SWOT analysis, what does the 'W' represent?
Wants
Weaknesses
Workload
Wins
35
Which of the following is NOT a method of protectionism?
Embargoes
Quotas
Tariffs
Free trade agreements
36
What does SMART stand for in goal setting?
Structured, Motivated, Aimed, Rational, Timely
Specific, Measurable, Achievable, Realistic, Timely
Simple, Manageable, Attainable, Reasonable, Timed
Smart, Measured, Actioned, Realized, Timed
37
Ethics is making decisions about what is…
Morally right and wrong
Popular or unpopular
Profitable or not profitable
Legal or illegal
38
Which planning type is used to prepare for crises or major changes?
Contingency
Tactical
Strategic
Operational
39
All the following people are stakeholders EXCEPT:
Manager
CEO
Competitor
Government
40
External stakeholders include customers, the government, and society at large.
False
True
41
What is the main goal of organizational structure?
Define roles and streamline workflow
Eliminate marketing costs
Increase competition
Avoid legal issues
42
Which of the following is NOT typically used in employee recruitment?
Online listings
Social media
Job fairs
Surveys
43
Which of the following typically triggers unemployment benefits?
Voluntary resignation
Breach of contract
Termination with cause
Being furloughed
44
What is the most effective way to ensure understanding in business communication?
Using complex vocabulary
Speaking louder
Avoiding eye contact
Providing feedback and clarification
45
Ethical behavior in business can improve reputation and customer loyalty.
True
False
46
Which of the following is an example of unethical business behavior?
Offering promotions to employees
Providing health benefits
Falsifying product information
Filing accurate taxes
47
Which communication barrier arises when the sender and receiver interpret words differently?
Psychological barrier
Semantic barrier
Cultural barrier
Organizational barrier
48
Which is NOT a benefit of international trade?
Increased consumer choice
Lower production costs
Access to new markets
Increased tariffs
49
Which barrier is caused by emotions like anger or anxiety affecting communication?
Cultural barrier
Semantic barrier
Psychological barrier
Organizational barrier
50
Global supply chains involve production and delivery in one country only.
False
True
51
The employment-at-will doctrine states that…
Employee can automatically sue an employer they feel wrongfully terminated
Employees must give two weeks' notice before quitting
An employer cannot terminate an employee without valid reasoning.
An employer can terminate an employee for any reason at any time.
52
A mission statement should define who the organization serves.
True
False
53
Which CSR definition best describes the European Union's CSR approach?
An approach that creates long-term shareholder value
Approach manages risk from economic, environmental, and social development
An embedded strategy focused only on marketing
A cost-saving method with tax deductions
54
Conceptual skills become more important as managers move up the hierarchy.
True
False
55
Which feedback method prompts the listener to rephrase the original message for clarity?
Requesting examples
Reflecting
Asking questions
Paraphrasing
56
Who among the following is LEAST likely to be an internal stakeholder?
CEO
Employee
HR Manager
Customer
57
What is a trade agreement?
A fee placed on imported goods
A formal pact to reduce trade barriers between nations
A report showing GDP and trade volumes
A limit on the amount of a product that can be imported
58
Exports are goods and services produced at home and sold abroad.
False
True
59
What do internal stakeholders typically influence the most?
Trade regulations
Product recalls
Marketing budgets
Company policies and operations
60
Ethics in business involves making decisions based on legality only.
False
True
61
Within scientific management theory, a clear separation of duties between managers and employees creates…
Increased productivity due to competition between managers and employees
Decreased productivity due to competition between managers and employees
A need for dependency between managers and employees
Frequent disagreements between managers and employees
62
Which of the following best describes a vision statement?
Focuses on present operations
Details the company's revenue streams
Outlines the long-term goals and aspirations
Is used for budgeting
63
Which mode of communication uses body language and gestures?
Visual
Written
Non-verbal
Verbal
64
What is the most important thing a manager or company can do to increase productivity/employee motivation?
Recognize the employee
Pay the employee more money
Provide the employee with more training
Give the employee a promotion/more responsibility
65
Operational planning is typically done by…
Board of directors
Middle managers
Shareholders
Top-level executives
66
Internal stakeholders include suppliers and investors.
False
True
67
What type of listening filters what is being said to only hear what one wants?
Empathetic Listening
Attentive Listening
Selective Listening
Passive Listening
68
The standard is the typical amount of time a task should take to complete.
False
True
69
Brainstorming a marketing strategy on how to promote a new line of sneakers is an example of a…
Technical skill
Human skill
Functional skill
Conceptual skill
70
Which of the following is a role that involves sharing information?
Decisional
Technical
Informational
Interpersonal
71
Which part of SWOT analysis represents external factors that could be harmful?
Threats
Weaknesses
Opportunities
Strengths
72
The process of attracting the right people to apply for an available job in a company or organization is called…
Training
Onboarding
Recruitment
Interviewing
73
What is a quota in international trade?
A type of trade agreement
A subsidy for exports
A tax on imports
A limit on the number of goods that can be imported
74
A legal document requiring 2 employees engaging in a relationship to waive any rights to sue the company is called a…
Gender discrimination contract
Affidavit of employment
Love contract
Engagement contract
75
Protectionism includes tariffs, quotas, and embargoes to restrict imports.
False
True
76
What is typically the focus of a vision statement?
Company bylaws
Long-term aspirations and direction
Current business operations
Employee benefits
77
The Hawthorne Effect falls under the branch of Neoclassical Management Theory.
True
False
78
A stakeholder is anyone who has an interest in or is affected by the business.
True
False
79
Providing an employee with feedback in a kind yet truthful manner is an example of a…
General skill
Conceptual skill
Technical skill
Human skill
80
The U.S. has a comparative advantage in:
Knowledge-based industries
Textile production
Coal mining
Apparel production
81
Formal written communication includes emails, reports, and letters.
True
False
82
What is a key component of ethical leadership?
Aggressive competition
Rule-breaking
Transparency and fairness
Profit maximization
83
Which of the following BEST reflects ethical decision-making?
Considering impacts on stakeholders
Avoiding regulations
Pleasing only top executives
Firing employees to cut costs
84
The four major functions that make up the management process are:
Prioritizing, Optimizing, Leading, Controlling
Prioritizing, Optimizing, Leading, Conceptualizing
Planning, Organizing, Leading, Controlling
Planning, Organizing, Leading, Conceptualizing
85
The employee appraisal process requires SMART goals for performance comparison.
True
False
86
What kind of planning is aimed to be achieved in less than 1 year?
Strategic
Tactical
Expansionary
Operational
87
A manager or employee who works for your company would be an example of an…
External stakeholder
Indirect stakeholder
Internal stakeholder
Direct stakeholder
88
Embargoes encourage international trade by reducing taxes.
False
True
89
Which law prohibits age discrimination in employment?
Americans with Disabilities Act
Civil Rights Act
Age Discrimination in Employment Act
Title VII
90
A company who sells products that compete with your company's products would be an example of an…
Internal stakeholder
External stakeholder
Indirect stakeholder
Direct stakeholder

Honors Management & Leadership Final Exam Review Flashcards | StudBud