Management Tools & Principles FInal/Midterm

In the process of satisfying customers, businesses transform lower value inputs into:

According to the book, there are 3 qualities shared by successful entrepreneurs. These are:

Selling more of a firm's existing products into current markets is referred to as:

An individual or company that owes money to another party is referred to as:

Which is a permanent forum for negotiating, implementing, and monitoring trade procedures and disputes?

A corporation’s first offering of shares to the public is known as:

Management by objectives is a technique rooted on:

Private individuals who invest in start-ups early and with smaller amounts than VCs are known as:

Practicing good business ethics involves at a minimum:

Increasing usage of the Visa payment mechanism generates:

Mass marketing is also known as:

The total value of a country’s exports minus the total value of its imports, over some period of time, is known as the:

The process of identifying and attracting qualified candidates for jobs within a company is known as:

Which of these is NOT one of the factors of production?

Consistency of a firm’s strategy, first with the external environment and second with its internal environment, is:

At the top of Maslow's hierarchy is...

What is the term for a firm's ability to outperform rivals and achieve higher returns?

Negative internal factors hindering a company’s success, like obsolete facilities or inadequate resources, are known as:

According to the definitions of value chain and supply chain and the difference between them, the correct statement is:

A pathway for the flow of authority from one management level to the next is known as the:

When a company’s risky decision causes others to bear the consequences, it is known as:

An employee reports internal fraud to external authorities to protect stakeholders. What term describes this action?

A team formed from a single functional department and based on the organization’s vertical structure is known as a:

Which of the following is NOT one of the three fundamental concepts of financial management?

Which of these was NOT a success factor in the analysis of Queen Elizabeth and Lady Gaga from "The Concept of Strategy"?

If customers become more optimistic, the demand curve will:

__ is the study of the actions of people at work.

Of these funding resources which one should you pay back all the money you borrow?

In the context of financial accounting, the term Liquidity refers to:

Which economic indicator shows the average change over time in the prices paid by urban consumers for goods and services

How are positive demand economies of scale achieved in a platform business?

What concept describes the degree to which tasks in an organisation are divided into seperate jobs?

The management function of guiding and motivating people to work toward organizational goals is known as:

Which of the following is NOT a step of the Strategic Planning Process?

When the GDP of a nation declines for six consecutive months, the economy is said to have entered a:

When the GDP of a country declines for 6 consecutive months the economy is said to have entered a:

Which of the following is NOT a factor of production?

Which organizational structure allows for the specialization of tasks but also promotes interdepartmental cooperation?

A visual representation of employee groups and communication/authority flow is known as a:

The managerial function of arranging resources to carry out the organization’s plans is known as:

Who selects and hires the CEO of the company?

Which of these is not a part of the business environment?

The amount of a product that producers are willing to sell at various prices is called:

What is the process of determining the cost of producing and selling a product?

The portion of after-tax profits that is not distributed to shareholders is called:

Core competencies are those activities at which a company excels and that give it the potential to generate:

The group of people most likely to buy a product is the:

New companies such as Goiko Grill start with an initial amount of funds. Which is NOT available to start a company?

Platform business models like Amazon beat pipeline business models like Walmart because:

When a country can produce a good or service at a lower opportunity cost than other countries, it has a(n):

________ is the study of the actions of people at work.

Which term refers to obtaining funds for a business by borrowing?

"Big Tasty Burger" in Alaska selling a French company rights to its brand, processes, and assets is an example of:

The first infusion of capital used to get a business started is known as:

Socialism is the most extreme example when we talk about planned economies:

Telefónica was state-owned company until 1997 when the government stepped out of last 20% ownership they had.Example of:

A team that draws together employees from different functional areas is known as a:

In a line-and-staff organization what functional groups provide advice & services but are outside the chain of command?

Tariffs are:

One important characteristic of sole proprietorship is:

In the context of factors of production, when we refer to "Capital", we refer to:

________ is defined as a total ban on trade with a particular nation.

The criteria against which performance is measured is known as:

All managerial roles that leaders must be can be grouped into 3 main categories. Which is NOT a management role?

__ is defined as a total ban on trade with a particular nation.

When a company reduces the variety of its products, focusing only on what is most profitable, this strategy is called:

________ is “the process of creating value for customers and building relationships to capture value in return.”

A framework that helps managers divide responsibilities, ensure accountability, and distribute authority is known as:

Which of the following concepts depicts when a buyer attempts to buy another company against the wish of its management?

A written statement that sets for the principles that guide an organisation's decisions is a/an:

An organizational structure that groups employees by skills and job requirements is known as:

If a large organization wanted to reduce the time it takes to make decisions, they should:

When a buyer attempts to acquire a company against the wishes of management, this is known as a:

In the field of economics, ___ is the value of the most appealing alternative not chosen.

What refers to the phenomenon where a group's desire for harmony results in a dysfunctional decision-making outcome?

Single-layer taxation means that:

The point where revenue and total costs are equal is called the:

Companies embracing the "marketing concept" instead of the "selling concept" have as their primary focusÇ:

In the context of financial accounting, the term liquidity refers to:

When workers can't find jobs that match their qualifications, it's an example of:

In the context of organisational design, what term describes an approach that removes layers of middle management?

Which type of advertising encourages immediate consumer action by emphasizing discounts or promotions?

The two general competitive strategies are:

What refers to the capacity of employees to make decisions without seeking approval from a higher authority level?

In the context of organizational design, what term describes an approach that removes layers of middle management?

Establishing objectives and determining how to achieve them is known as:

An unincorporated business owned by two or more people is known as a:

Repsol Spanish petrol company operating in Argentina was taken over and is now operated by local government. Example of:

Making jobs more interesting and challenging by expanding the range of skills required is called:

Who owns a corporation?

A graphical representation of an organization’s structure is called:

The total flow of money into the country - the total flow of money out of the country over a period of time is the:

What term describes a product sold below its market price to attract customers to a store?

Mass marketing is also known as:

What is a contractual agreement allowing a franchisee to sell or produce a franchisor’s products under their brand name?

What term describes the set of guidelines outlining principles, values, and expected behaviour in a company?

A company that enables quick responses to customer needs and changes is known as:

The study of larger economic issues, such as government policy, is termed:

Which utility satisfies wants by providing goods and services at a convenient time for customers?

Which question is NOT essential for describing a fimr's strategy?

A written statement of what an organization wants to achieve and how it will accomplish it is called a:

In the process of satisfying customers, businesses transform lower value inputs into...

Which of the following theories speaks of the effect of "If we know we are being observed, our performance increases"?

What technology can financial institutions use to detect fraudulent transactions in real-time?

When workers can’t find jobs that match their qualifications, it is an example of:

Plans for achieving strategic goals, developed by top managers for 2-5 years, are known as:

What concept describes the degree to which tasks in an organization are divided into separate jobs?

What term is used to describe a team that operates with a high degree of autonomy and is typically cross-functional?

The positive internal factors that contribute to a company’s success are known as:

Which term depicts a leadership approach that emphasizes the mutual benefits of employees and managers working together?

The Economic Environment refers to:

An unincorporated business owned by two or more people is known as a:

Which term depicts a leadership approach that emphasises the mutual benefits of employees and managers working together:

C-level executives are considered as:

In the context of currency value, with a strong dollar...

Leaders who advise and support but let subordinates chart their own course are considered:

Quotas are:

Dividing the total market into groups of people who have similar wants and needs is called:

Collecting and comparing process and performance data from other companies is known as:

The exchange of goods or services without using money is called:

_was shocked by factory inefficiencies and in 1911 wrote a book depicting the use of_to find “one best way” to do a job

In general terms, profit is:

When a country exports more than it imports, it has a:

In industries dominated by a few large firms, one firm often sets prices that other firms follow. This is called:

An organizational structure which uses functional and divisional patterns simultaneously is known as:

The ability of a good or service to satisfy a customer’s wants is known as:

Suffering lower managerial perspective is a problem that is faced mostly by:

Management by Objectives is a technique rooted in:

All the internal and external groups affected by a company's decisions and activities are called:

The measurable characteristics of a population are called:

IE University buys a top private university in Belgium and starts operating it. This is an example of:

What includes the policies, systems, and director responsibilities ensuring a business operates legally and effectively?

Who in the management pyramid translates strategic goals into actions to meet targets?

Which of the following is NOT one of the three fundamental concepts of financial management?

When there is a mismatch between workers' skills and employer needs, we call it: