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PHM521
PHM521
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Answers
1
A SWOT analysis is both internal and external (Macro level)
True
False
2
What does "T" stand for in the STAR acronym?
Timid
Task
Time
Temper
3
Regarding merchandising, positioning item a shelf between waist and eye level inproves sales.
True
False
4
The Chief MD may use this type of leadership with his expert medical staff...
Affiliative
Transformational
Laissez-faire
Servant
5
What is appropriate to say when closing an interview? (select all that apply)
Thank them for the opportunity
Ask about next steps if you need additional clarifications
You look forward to hearing from them and enjoyed talking
6
Which of the following s NOT true when interviewing for a job?
be yourself
appear confident
sell yourself but do not be humble
be realistic even if it means appearing slightly negative
7
When interviewing, what does it mean to "know yourself"? (select all that apply)
highlight your weakest skills first
know your CV/resume
highlight your strongest skills first
know how your skills fit job requirements
8
Coercive power and expert power are most often seen in the same individual.
True
False
9
Based on Dr. Sedita- Alaimo's lecture, "Create" means to create a professional resume or CV.
True
False
10
When providing employee feedback managers should not talk about themselves just the employee
True
False
11
A strategic plan is usually for..
First year of business
5-10 years
1-2 years
3-5 years
12
The Manager gives her tech the best schedule after she helped hit all set targets. This is an example of
reward power
referent power
coercive power
legitimate power
13
Which is not an effective way to enhance communication of a plan?
Ask open ended questions
Avoid jargon
Be consistent and transparent
Tell employees what they want to hear
14
"Transparency" is the termed used to disclose any rebates they receive from a manufacture?
False
True
15
Affiliation is a key component of of the “Employee Value Proposition”
True
False
16
Which of the following is not a key interview question? ( select all that apply)
Why are you interested in working for this company?
Tell me about yourself
Why are you here?
What are your major strengths/weakness?
17
"Independence" is a factor that does not influences motivation in employees
False
True
18
"Expectancy, valence, and instrumentality are the three key factors to motivation"
False
True
19
workplaces will be more productive if employees are equipped to avoid conflict.
False
True
20
You are willing to pay more for the grilled cheese at fancy cafe although its the same as the Diner.
Necessity perception
None are correct
Actual Value
Perceived value
21
Which is not measured in a SWOT analysis
weaknesses
target market
opportunities
strengths
22
To delegate, managers should consider which decisions to make versus which to delegate.
False
True
23
A Salesperson giving freebies in hopes customer will make purchase is an example of....
law of reciprocity
sales pricing
perceived value
steering
24
Marketing focuses on Needs, Wants and ...
Pricing
Location
Management
Demands
25
Which is not a main reason why would create a strategic plan?
People/teams working in silos
You are not getting the results you want
Staff morale is low
You are opening up a new pharmacy and need investors
26
Prof. Hodurski said in leadership wheel- mostly breaks down at this step...
Align the team
Set the agenda
Set accountability
Provide feedback
27
Profits can potentially increase or decrease by 1% for every 15% change in COGS.
True
False
28
If I want to start a small Etsy tee shirt business to test it out, which structure is best?
Sole proprietorship
S-Corp
LLC
Partnership
29
Employee reviews should be held in rooms where seating is such that participants as seen peers
True
False
30
Taking time out to focus on what will give you greater results,in other words "Achieve more by doing less" is the...
70/30 principle
Pareto priniciple
Strategic planning model
Donabedian model
31
When providing employee feedback managers should not talk about themselves- just the employee
True
False
32
Merchandising and Marketing are the same.
True
False
33
What is not a true statement about the difference between a business plan and strategic plan?
A business plan gives long term direction (3-5 years)
A strategic plan focuses on building a sustainable competitive advantage
A business plan is normally used for start ups and new businesses
A strategic plan provides direction for an existing organization
34
Which is NOT one of the 3 origins of authority?
Informal
Traditional
Bureacratic
Charismatic
35
When you buy something on Amazon, and then get recommendations on other items- this is an example of?
Branding
Relationship marketing
Stalking
e-commerce magic
36
You must always list tactics under your goals in order to effectively implement plan.
True
False
37
"So, what questions do you have for me" Choose best answer (select all that apply)
Ask about your interviewer's salary
Ask questions about company’s current activities and plans
Inquire about its competitive position and vulnerabilities
38
"Treat others with respect, separate people from problems" . Which BEST defines this?
effective feedback
managing conflict
managing time
time management
39
What part of the business plan should generate the most interest to reader?
Mission Statement
Vision Statement
Executive Summary
Cover page
40
According to Expectancy Theory, which is relate to valence? (select all that apply)
Employee believes that completing a task will be beneficial
Employees believes that task will lead to bad consequences
41
What is the name of the framework for examining health services and evaluating quality of health care?
Pavlovian model
Pareto principle
Donabedian model
Strategic planning model
42
Organizations use strategic planning to accomplish daily tasks and short term goals.
True
False
43
Product mix of a pharmacy should be driven by
Pharmacy mission statement
Target market
44
According to Simon Sinek, you are a leader when...
you have the title
you manage a team
you help others and take accountability
you are an executive
45
Which is not one of the 4 P's of marketing
Place
Product
Public
Price
46
Which is not a part of the Hedgehog theory?
what you can do best at
What you can afford to open business
what drives your economic engine
What you are passionate about
47
Selling an oil diffuser at cost knowing customers will spend more on oil refills is known as...
Cost Plus pricing
Value based pricing
Perception pricing
Loss leader pricing
48
Select ALL differences and similarities between Intrapreneur and Entrepreneur
Intrapreneur has more ownership
Entrepreneur has more risks
Setting in which they work
Both play leadership roles
49
Unlike DIR fees, GERs cannot be mitigated by a pharmacy's performance measures
False
True
50
A person's level of assertiveness may determine how they respond to conflict
False
True
51
"any situation in which incompatible opinions, values, attitudes, or intentions occur together”
Inventory managment
Conflict management
Negotiation
52
The Stock Depth formula is (average demand + lead time) x review time + safety stock
False
True
53
"Independence" is a factor that influences motivation in employees
False
True
54
Which of the following demonstrates implementation of the
niche entry strategy
?
Decorating store front to make it uniqe and distinct from competitio
Advertising your pharmacy staff as personable & nice to differentiate
Selling products at low, wholesale prices
Focus on Kosher products in Jewish community since others don't
55
Which is not a key priority of marketing
identify new opportunties
Strong leadership
Fulfill orders
Attract customers
56
Marketing is used to describe activities that lead to selling goods or services
False
True
57
Completing a SWOT analysis and employee survey takes place in which phase of a strategic planning process?
Phase 1
Phase 2
Phase 3
None as it takes place in business plan
58
If the interviewer does not use "behavioral interviewing" you can still tell your stories.
True
False
59
What is the first step in a well thought out contingency plan is to evaluate risk.
False
True
60
Some critics say strategic planning hinders creativity and innovation in response to a changing environment
False
True
61
Sara is the student in class everyone follows and looks up to. This is an example of
Accidental Leadership
Formal Leadership
Informal Leadership
Student Manager
62
A reduction in price gained by buying in quantity is known as "cash discount"
True
False
63
Pareto's law states 20% of the value of an inventory is comprised of 80% of the actual items
False
True
64
Which describes the purpose of your business and to whom its targeted?
Mission Statement
Vision Statement
Conclusion
Company Values
65
An individual's perceptions are framed by their culture
True
false
66
What is
false
regarding perceived value?
"Make new things familiar and familiar things new"
based on the products ability to fulfill a need and provide satisfaction
It is the actual monetary value of the product/service
Determines the price the consumer is willing to pay for a product/serivce
67
Where should a high demand, high profit item be placed on shelf?
eye level about 5'2
6' level so its higher
on all shelves at front of store
On bottom shelves
68
Which is NOT one of the 4 P's of marketing?
Price
Place
Principle
Promotion
69
When preparing for an interview, which of the following is true?
Do not shake hands with interviewer
work on your confidence
Your appearance counts
work on your eye contact
70
Which model has profit and loss passed through your personal income without facing corporate taxes?
C-Corp
Partnership
LLC
Sole Proprietorship
71
Third party contracts can require providers to meet state mandated laws.
False
True
72
Third party payers & PBMs erode patient accountability for health care
False
True
73
The person in company responsible for management and implementation of info and technology is the ...
COO
CIO
CEO
CFO
74
SMART goals should have unlimited time to complete ?
true
false
75
Which model is mostly used in healthcare?
none of the above
Pareto principle
Phase model
Donabedian model
76
Another name for the 80/20 rule is the...
Simon Sineks work smarter guide
pareto principle
20/80 rule
Hedgehog theory
77
"Instrumentality" is a key components of of the Employee Value Proposition (EVP)
False
True
78
Employee feedback should be seen as a preventive measure not a corrective measure
False
True
79
When would you need a strategic plan?
when team collaborates
when you have great experienced leadership
when team not getting results
when you open new business
80
There is nothing inherently negative about conflict in the workplace.
False
True
81
Merchandising is a coordination of sales activity and marketing
False
True
82
Poor dispensing fees are
not
an issue with regards to reimbursement from parties and PBMs.
True
False
83
Changing the price from $5.00 to $4.99 is an example of...
Value based pricing
psychological pricing
cost plus pricing
loss leader pricing
84
What is the image associated with a company, product, or service?
None of the above
Brand
Logo
Advertisement
85
As a business manager, which of the following is NOT an effective way to handle an issue relayed by one of the workers?
All are appropriate strategies
Offer to handle the issue and promise a progress report
Delegate the problem to an employee who is most appropriate for the job
Identify a solution & communicate next steps to who presented
86
Based on Dr. Sedita-Alaimo's Interview Skills lecture what does "create" mean?
create a personal brand
create a mission statement
create a vision statement
87
"Collaborating" is a part of the Thomas-Kilmann Conflict Mode Instrument.
True
False
88
Having candy, chapsticks and small items by checkout is an example of
impulse buying strategy
minor marketing
Cost value strategy
Sales pairing strategy
89
"Tell me about a time when you were criticized on the job" is a behavioral interview question.
False
True
90
Leaders are most effective when they choose styles consistent with personality, and people with whom they interact
False
True
