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Business Management
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Unit 1 review #businessmanagement
Flashcards
38 cards
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Practice quiz
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Questions
38
Answers
1
Achievement-oriented people often want to
Let others win
Do things more efficiently
Be told what to do
Keep things the same
2
Human capital refers to
The value of our knowledge about a specific topic
The sum of our knowledge, skills, health, and values
Our own potential for leadership
How much we can work
3
Because operations managers control so much of a business's money, they must focus on
Keeping costs low.
Generating publicity.
Creating effective advertising campaigns.
Hiring the best employees.
4
Leadership is important when things are going well for a business because
Employees become discouraged in times of crisis
People don't need role models
Team members usually embrace change
Leaders determine the next step for the organization
5
Which of the following is a characteristic of aself-confident leader?
S/He has the ability to share a vision.
S/He is truly invested in the work team.
S/He is decisive, even in uncertain circumstances.
S/He demonstrates empathy.
6
A simple definition of a leader is someone who
Is ready to take action at a moment's notice
Can recognize a bad situation and alert others
Lives by a moral and ethics code
Has the ability to guide or direct the actions of others
7
Leadership is especially important at the beginning of a business because
Businesses cannot afford to pay employees
Only certain types of people can be leaders
Start-up failure rates are high
Every company must have a president
8
Keeping the end goal in mind refers to which standard of excellence?
Results
Improvement
Trying something new
Competition
9
If a leader wants people to believe what s/he says and follow him/her, s/he must demonstrate
Self-awareness
The ability to share a vision
Decisiveness
Competence
10
Operations activities vary depending on a business's
Address
Tax return
Product
Name
11
Which of the following is a result of an achievement orientation:
Continuous improvement
Lower standards
Less risk taking
Automatic raises and promotions
12
Which of the following is not a main factor in a business's site selection decision:
Media
Community
Costs
Labor
13
Which of the following is a true statement about leadership
Leaders are born, not made
Leadership cannot be studied and practiced
Leaders are typically poor managers
Anyone can be a leader leaders are typically poor managers
14
Which of the following leadership characteristicswould be too difficult to fake:
Self-confidence
Credibility
Passionfor work and people
Integrity
15
A leader with emotional intelligence is good atmanaging
money.
raw materials.
facilities.
feelings.
16
Which of the following is a sign of high achievement orientation:
A lack of competitiveness
Poor-work quality
Impatience
An entrepreneurial spirit
17
Juan wants to be the top salesperson in his company this year. What standard has he set?
Demonstrating leadership
Trying something new
Past performance
Outperforming others
18
Angela has achieved business success, and many other people look up to her. This makes her a(n)
Leader
Role model
Example
Hero
19
Sara shows that she is a high achiever by taking _____ risks and avoiding _____ risks:
High;realistic
High;moderate
Moderate;high
Unrealistic;moderate
20
which of the following forms of technology is most useful in operations:
Wireless internet
Smart phones
E-mail
Computer-aided design
21
Maintenance and repairs is an operations activity that includes
Quality inspection
Production planning
Custodial work
Financial analysis
22
Collette wants to fill out at least five job applications this week. What standard has she set?
Past performance
Improvement
An objective measure
Outperforming others
23
Which of the following is an example of one of a business's inputs:
Employees
Goods
Products
Services
24
How much people believe what you say and are willing to follow you depends on your
Emotional intelligence
Credibility
Self-confidence
Responsibility
25
A willingness to learn, to change, and to takeoccasional risks all refer to a leader with
business knowledge.
flexibility.
a passion for work and people.
credibility.
26
The operations function consists mainly of activities that are performed on a __________ basis.
Daily
Monthly
Weekly
Yearly
27
Achievement orientation has a close relationship with _____ skills.
Leadership
Technology
Physical
Writing
28
Complying with environmental laws is part of which operations activity?
Logistics
Inventory control
Safety and security
Purchasing
29
The money it takes to keep inventory in stock is called ________ cost.
Stockout
Purchasing
Production
Holding
30
Which of the following is a behavior of an achievement oriented leader:
Setting easy goals
Allowing followers to take moderate risks
Withholding feedback
Not allowing followers to take responsibility
31
A leader should be an expert at his/her job. Thisdemonstrates the leadership characteristic of
ability to share a vision.
emotional intelligence.
business knowledge.
flexibility.
32
Operations managers have two main goals in mind-efficiency (keeping costs low) and
Reputation (keeping up the business's good name)
Legality (keeping the business in good standing with the law
Effectiveness (keeping customers satisfied)
Productivity (keeping the business running fast)
33
Achievement oriented people rely on ______ to set the standards for their work.
Their followers
Their coworkers
Themselves
Their bosses
34
Running out of inventory can result in
More satisfied customers
Lost sales
Higher taxes
Higher productivity
35
Operations managers must work closely with managers and employees in
Competitive businesses
All other parts of the businesss
The marketing department only
Foreign markets
36
Which operations activity is also referred to as procurement?
Quality control
Inventory control
Logistics
Purchasing
37
Deciding how to transport goods is part of which operations activity?
Logistics
Scheduling
Safety and security
Maintenance and repairs
38
The foundation of the operations function is
Production planning
Quality control
Maintenance and repairs
Purchasing
