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Management 101 Flashcards | StudBud
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Management 101
Management 101
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A brief look at modern day Business Management
Flashcards
19 cards
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Practice quiz
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Questions
19
Answers
1
Resources a business use to make goods include labor, capital, entrepreneur, natural resource
Factors of production
Revenue factors
Production services
Economic indicators
2
Customs, values, & demographic characteristics of a society in which a company operates
Mixed market
Socio cultural
Closed market
Open market
3
Canadian economy has an economic system with both a command economy & a free market economy.
None of the above
Mixed Market
Quota market
Demand market
4
Core competency that sets an organization apart from competitors is known as:
Competency Competent
Competitive Advantage
Advantage Competence
Competitive Environment
5
Which of the following factor payment is earned by Entrepreneurship?
Rent
Profit
Interest
Wages
6
The worldwide movement toward economic, financial, trade, and communications integration
Economic environment
Effectiveness
Efficiency
Globalization
7
Who are the stakeholders in your organization?
Customers and Suppliers
Office Furniture, Rules & Regulation
Competitor, Rules & Regulation
Your Product, Your Price
8
Difference between revenue that a company brings in & cost of generating this revenue
Profit
Cost of goods sold
Accounts receivable
Gross margin
9
Economic system in which government decides how the factors of production are allocated
Laissez- faire economy
Command economy
Capitalism
None of the above
10
To work from home, making use of the Internet, email, and the telephone
Virtual Travel
Call Centres
Telecommuting Organizations
Shamrock Organizations
11
what are examples of demographic factors
Culture, Sex, Politics
None of the above
Age, Sex, Education level, Income level,
Income levels and Government Regulations
12
Economics focusing on a small scale eg data for individual markets & not the economy as a whole
Macro economics
Macro economics
None of the above
Macro economic goals
13
Agriculture is a common example in this type of competition because the product is identical
Oligopoly
Monopoly
Monopolistic Competition
Perfect Competition
14
A Shamrock Organization?
Consist of Core Workers, Part-Time Workers & Middle managers
Consist of Core Workers, Part-Time workers, Contract Workers
Consist of Top managers, Middle managers and Team Leaders
None of the above
15
What are the 4 factors of production?
Capital, Entrepreneurship, Labor, Land
None of the above
Cultural, Political, Economic, Demographic factors
Capital, Land, Labor, Economic
16
An organization achieves competitive advantage through:
Higher Quality
All of the following
Better Delivery & Flexibility
Cost Efficiency
17
The exact opposite of perfect competition in the marketplace is:
A Monopoly
None of the above
Monopolistic Competition
An oligopoly
18
What are some of the external factors affecting the New Workplace?
Furniture, Scanners, Machine
Land, Labour, Diversity
Globalization, Diversity, Talent Management
Globalization, Females, Males
19
Barrier to advancement, especially for women and people of certain ethnic background
Diversity management
Intellectual Capital
Glass Bowl Effect
Glass Ceiling Effect
