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PHM 521 combined Quizs
PHM 521 combined Quizs
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1
There is nothing inherently negative about conflict in the workplace.
True
False
2
Based on Dr. Sedita- Alaimo's lecture, "Create" means to create a professional resume or CV.
True
False
3
What does "T" stand for in the STAR acronym?
Temper
Task
Timid
Time
4
Selling an oil diffuser at cost knowing customers will spend more on oil refills is known as...
Perception pricing
Value based pricing
Cost Plus pricing
Loss leader pricing
5
"Treat others with respect, separate people from problems" . Which BEST defines this?
managing time
effective feedback
time management
managing conflict
6
Affiliation is a key component of of the “Employee Value Proposition”
True
False
7
Which model has profit and loss passed through your personal income without facing corporate taxes?
Partnership
C-Corp
LLC
Sole Proprietorship
8
Employee feedback should be seen as a preventive measure not a corrective measure
True
False
9
Marketing focuses on Needs, Wants and ...
Pricing
Demands
Management
Location
10
An individual's perceptions are framed by their culture
false
True
11
Which is not a key priority of marketing
Strong leadership
identify new opportunties
Fulfill orders
Attract customers
12
Where should a high demand, high profit item be placed on shelf?
on all shelves at front of store
eye level about 5'2
On bottom shelves
6' level so its higher
13
"Collaborating" is a part of the Thomas-Kilmann Conflict Mode Instrument.
False
True
14
What is not a true statement about the difference between a business plan and strategic plan?
A business plan is normally used for start ups and new businesses
A strategic plan focuses on building a sustainable competitive advantage
A strategic plan provides direction for an existing organization
A business plan gives long term direction (3-5 years)
15
Select ALL differences and similarities between Intrapreneur and Entrepreneur
Setting in which they work
Intrapreneur has more ownership
Both play leadership roles
Entrepreneur has more risks
16
A SWOT analysis is both internal and external (Macro level)
False
True
17
When would you need a strategic plan?
when you have great experienced leadership
when you open new business
when team collaborates
when team not getting results
18
Another name for the 80/20 rule is the...
pareto principle
Simon Sineks work smarter guide
20/80 rule
Hedgehog theory
19
"Independence" is a factor that does not influences motivation in employees
False
True
20
"Transparency" is the termed used to disclose any rebates they receive from a manufacture?
False
True
21
SMART goals should have unlimited time to complete ?
false
true
22
Merchandising and Marketing are the same.
False
True
23
Sara is the student in class everyone follows and looks up to. This is an example of
Accidental Leadership
Student Manager
Formal Leadership
Informal Leadership
24
Which is not a main reason why would create a strategic plan?
You are opening up a new pharmacy and need investors
You are not getting the results you want
Staff morale is low
People/teams working in silos
25
"Tell me about a time when you were criticized on the job" is a behavioral interview question.
True
False
26
As a business manager, which of the following is NOT an effective way to handle an issue relayed by one of the workers?
Delegate the problem to an employee who is most appropriate for the job
All are appropriate strategies
Identify a solution & communicate next steps to who presented
Offer to handle the issue and promise a progress report
27
Which is not one of the 4 P's of marketing
Product
Place
Public
Price
28
To delegate, managers should consider which decisions to make versus which to delegate.
False
True
29
A Salesperson giving freebies in hopes customer will make purchase is an example of....
steering
perceived value
sales pricing
law of reciprocity
30
What part of the business plan should generate the most interest to reader?
Cover page
Mission Statement
Vision Statement
Executive Summary
31
Profits can potentially increase or decrease by 1% for every 15% change in COGS.
False
True
32
According to Simon Sinek, you are a leader when...
you have the title
you are an executive
you manage a team
you help others and take accountability
33
The Manager gives her tech the best schedule after she helped hit all set targets. This is an example of
referent power
legitimate power
reward power
coercive power
34
Which is NOT one of the 3 origins of authority?
Charismatic
Informal
Bureacratic
Traditional
35
Pareto's law states 20% of the value of an inventory is comprised of 80% of the actual items
True
False
36
The person in company responsible for management and implementation of info and technology is the ...
CEO
COO
CIO
CFO
37
What is the first step in a well thought out contingency plan is to evaluate risk.
False
True
38
Third party payers & PBMs erode patient accountability for health care
False
True
39
"Instrumentality" is a key components of of the Employee Value Proposition (EVP)
True
False
40
Based on Dr. Sedita-Alaimo's Interview Skills lecture what does "create" mean?
create a personal brand
create a vision statement
create a mission statement
41
Unlike DIR fees, GERs cannot be mitigated by a pharmacy's performance measures
False
True
42
When providing employee feedback managers should not talk about themselves just the employee
True
False
43
Some critics say strategic planning hinders creativity and innovation in response to a changing environment
True
False
44
Completing a SWOT analysis and employee survey takes place in which phase of a strategic planning process?
Phase 2
None as it takes place in business plan
Phase 3
Phase 1
45
The Stock Depth formula is (average demand + lead time) x review time + safety stock
False
True
46
"Independence" is a factor that influences motivation in employees
True
False
47
Changing the price from $5.00 to $4.99 is an example of...
loss leader pricing
cost plus pricing
Value based pricing
psychological pricing
48
Marketing is used to describe activities that lead to selling goods or services
False
True
49
Product mix of a pharmacy should be driven by
Target market
Pharmacy mission statement
50
Poor dispensing fees are
not
an issue with regards to reimbursement from parties and PBMs.
True
False
51
Which model is mostly used in healthcare?
Phase model
none of the above
Pareto principle
Donabedian model
52
According to Expectancy Theory, which is relate to valence? (select all that apply)
Employees believes that task will lead to bad consequences
Employee believes that completing a task will be beneficial
53
Merchandising is a coordination of sales activity and marketing
False
True
54
workplaces will be more productive if employees are equipped to avoid conflict.
False
True
55
Which is not an effective way to enhance communication of a plan?
Tell employees what they want to hear
Be consistent and transparent
Ask open ended questions
Avoid jargon
56
When preparing for an interview, which of the following is true?
Your appearance counts
work on your eye contact
Do not shake hands with interviewer
work on your confidence
57
Which of the following is not a key interview question? ( select all that apply)
Why are you here?
What are your major strengths/weakness?
Tell me about yourself
Why are you interested in working for this company?
58
Having candy, chapsticks and small items by checkout is an example of
Sales pairing strategy
impulse buying strategy
Cost value strategy
minor marketing
59
What is the name of the framework for examining health services and evaluating quality of health care?
Strategic planning model
Donabedian model
Pavlovian model
Pareto principle
60
Which is not measured in a SWOT analysis
target market
weaknesses
opportunities
strengths
61
The Chief MD may use this type of leadership with his expert medical staff...
Affiliative
Laissez-faire
Servant
Transformational
62
"Expectancy, valence, and instrumentality are the three key factors to motivation"
True
False
63
What is
false
regarding perceived value?
It is the actual monetary value of the product/service
based on the products ability to fulfill a need and provide satisfaction
Determines the price the consumer is willing to pay for a product/serivce
"Make new things familiar and familiar things new"
64
Prof. Hodurski said in leadership wheel- mostly breaks down at this step...
Set accountability
Set the agenda
Align the team
Provide feedback
65
You are willing to pay more for the grilled cheese at fancy cafe although its the same as the Diner.
Necessity perception
Perceived value
None are correct
Actual Value
66
A strategic plan is usually for..
1-2 years
3-5 years
5-10 years
First year of business
67
"any situation in which incompatible opinions, values, attitudes, or intentions occur together”
Negotiation
Inventory managment
Conflict management
68
Regarding merchandising, positioning item a shelf between waist and eye level inproves sales.
True
False
69
Which is NOT one of the 4 P's of marketing?
Price
Promotion
Principle
Place
70
"So, what questions do you have for me" Choose best answer (select all that apply)
Inquire about its competitive position and vulnerabilities
Ask questions about company’s current activities and plans
Ask about your interviewer's salary
71
What is the image associated with a company, product, or service?
Logo
None of the above
Brand
Advertisement
72
If the interviewer does not use "behavioral interviewing" you can still tell your stories.
False
True
73
When providing employee feedback managers should not talk about themselves- just the employee
False
True
74
Which of the following demonstrates implementation of the
niche entry strategy
?
Selling products at low, wholesale prices
Advertising your pharmacy staff as personable & nice to differentiate
Decorating store front to make it uniqe and distinct from competitio
Focus on Kosher products in Jewish community since others don't
75
A person's level of assertiveness may determine how they respond to conflict
False
True
76
You must always list tactics under your goals in order to effectively implement plan.
True
False
77
Coercive power and expert power are most often seen in the same individual.
False
True
78
Which of the following s NOT true when interviewing for a job?
sell yourself but do not be humble
be yourself
appear confident
be realistic even if it means appearing slightly negative
79
Third party contracts can require providers to meet state mandated laws.
False
True
80
Which describes the purpose of your business and to whom its targeted?
Mission Statement
Conclusion
Vision Statement
Company Values
81
Leaders are most effective when they choose styles consistent with personality, and people with whom they interact
True
False
82
If I want to start a small Etsy tee shirt business to test it out, which structure is best?
Partnership
LLC
S-Corp
Sole proprietorship
83
Employee reviews should be held in rooms where seating is such that participants as seen peers
True
False
84
Taking time out to focus on what will give you greater results,in other words "Achieve more by doing less" is the...
Donabedian model
Strategic planning model
70/30 principle
Pareto priniciple
85
A reduction in price gained by buying in quantity is known as "cash discount"
False
True
86
Which is not a part of the Hedgehog theory?
what you can do best at
What you are passionate about
what drives your economic engine
What you can afford to open business
87
When you buy something on Amazon, and then get recommendations on other items- this is an example of?
e-commerce magic
Relationship marketing
Stalking
Branding
88
When interviewing, what does it mean to "know yourself"? (select all that apply)
know your CV/resume
highlight your strongest skills first
highlight your weakest skills first
know how your skills fit job requirements
89
What is appropriate to say when closing an interview? (select all that apply)
Ask about next steps if you need additional clarifications
Thank them for the opportunity
You look forward to hearing from them and enjoyed talking
90
Organizations use strategic planning to accomplish daily tasks and short term goals.
False
True
