Business Management
Final Exam Questions
Course Introduction
Business Management is a foundational course that explores the principles and practices involved in effectively running and organizing businesses. Students will learn about core management functions such as planning, organizing, leading, and controlling, as well as key topics including organizational structure, decision-making, strategic management, human resource management, marketing, and financial analysis. Emphasis is placed on real-world application, problem-solving, and ethical considerations, equipping students with the skills and knowledge necessary to succeed in a dynamic business environment. This course provides a solid understanding of the managerial roles and challenges encountered in diverse organizational settings.
Recommended Textbook Management 8th Edition by Richard L. Daft
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Chapter 1: Managing in Turbulent Times
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Sample Questions
Q1) As globalization, workforce diversity, uncertainty, and societal turbulence increase, __________ skills become even more crucial.
A) conceptual
B) human
C) technical
D) leading
E) controlling
Answer: B
Q2) Which of these can best describe organizing?
A) Assigning responsibility for task accomplishment.
B) Using influence to motivate employees.
C) Monitoring activities and making corrections.
D) Selecting goals and ways to attain them.
E) None of these.
Answer: A
Q3) Efficiency refers to the degree to which the organization achieves a stated objective. A)True
B)False
Answer: False
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Page 3
Chapter 2: The Evolution of Management Thinking
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Sample Questions
Q1) Organization development is a specific set of management techniques based in the behavioral science approach.
A)True
B)False
Answer: True
Q2) Mary Parker Follett contributed to which field?
A) Administrative principles approach to management
B) Scientific management approach
C) Total quality management approach
D) Quantitative approach to management
E) Systems approach to management
Answer: A
Q3) According to the systems theory, a beautician at a hair salon would be a(n)
A) output.
B) environment.
C) input.
D) transformation process.
E) none of these.
Answer: C
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Page 4
Chapter 3: The Environment and Corporate Culture
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Sample Questions
Q1) __________ environment consists of demographic factors, such as population density.
A) Technological
B) Sociocultural
C) Legal-political
D) Internal
E) Economic
Answer: B
Q2) __________ system draws resources from the external environment and releases goods and services back to it.
A) production
B) closed
C) open
D) information
E) management
Answer: C
Q3) A(n) ____________________ is a narrative based on true events that is repeated frequently and shared among organizational employees.
Answer: story
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Page 5
Chapter 4: Managing in a Global Environment
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Sample Questions
Q1) The rate at which one country's currency is exchanged for another country's currency is called a(n) __________ rate.
A) interest
B) inflation
C) per capita income
D) exchange
E) economic
Q2) The countries experiencing political, ethnic, and religious stability face the greatest threat of violence.
A)True
B)False
Q3) In the ____________________ stage, the company has marketing and production facilities located in many countries and more than one-third of annual sales come from outside the home country.
Q4) To deal with the marketing of products in several countries individually, a company in the international stage often uses an international division.
A)True
B)False
Q5) List the four stages of globalization.
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Chapter 5: Ethics and Social Responsibility
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Sample Questions
Q1) Ethical standards can be affirmed and communicated through __________ and __________.
A) ceremonies, public awards
B) management direction, public awards
C) management direction, employee empowerment
D) employee empowerment, ceremonies
E) ceremonies, management direction
Q2) Organizations that are ____________________ responsible consider the effects of their actions on all stakeholder groups and may invest in a number of philanthropic causes that benefit stakeholders.
Q3) A normative approach to ethical decision making
A) reduces ethical dilemmas to easy-to-understand formulas.
B) uses various approaches to describe guiding values for decisions.
C) states that everyone must use their employer's value system at work.
D) dictates only one way to choose to resolve dilemmas.
E) none of these.
Q4) The ____________________ approach in shades of green represents a growing awareness of and sensitivity to environmental concerns.
Q5) Most managers operate at the ____________________ level.
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Chapter 6: Managing Small Business Start-Ups
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Sample Questions
Q1) Annu believes that such things as luck or chance will determine her future success. Annu has
A) an internal locus of control.
B) a high need for achievement.
C) a tolerance for ambiguity.
D) an external locus of control.
E) high level of self-confidence.
Q2) The ______________________________ provides shared office space, management support services, and management advice to entrepreneurs.
Q3) Although researchers disagree over the percentage of new jobs created by small business, it is clear that small business is a job creation engine that is far ahead of large firms in the United States.
A)True B)False
Q4) ____________________ financing consists of funds that are invested in exchange for ownership in the company.
Q5) List and briefly describe the stages of growth for an entrepreneurial company.
Q6) What is the fundamental difference between the suppliers of debt and equity financing?
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Chapter 7: Managerial Planning and Goal Setting
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Sample Questions
Q1) Which of these refers to a temporary group consisting of line managers responsible for developing strategic plans?
A) Planning task force
B) Decentralized planning staff
C) Centralized planning department
D) Schewhart planning group
E) Total quality management group
Q2) The __________ is the basis for the strategic level of goals and plans which in turn shapes the __________ and __________ level.
A) goal, mission, tactical
B) objective, operational, mission
C) operational goal, mission and tactical
D) mission, tactical, operational
E) tactical plan, operational, mission
Q3) Briefly define the characteristics of an effective goal.
Q4) ____________________ plans are developed at the lower levels of the organization to specify action steps toward achieving operational goals and to support tactical plans.
Q5) ____________________ describes the organization's reason for existence.
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Chapter 8: Strategy Formulation and Implementation
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Sample Questions
Q1) ______________________________ is the set of decisions and actions used to formulate and implement strategies that will provide a competitively superior fit between the organization and its environment so as to achieve organizational goals.
Q2) The planning and decision making that lead to the establishment of the organization's goals and of a specific strategic plan is known as A) strategy formulation.
B) strategy implementation.
C) strategy coordination.
D) strategy control.
E) SWOT.
Q3) Reward systems, pay incentives, budgets for allocating resources, information technology systems, and organization's rules, policies, and procedures are included in
Q4) One of Porter's five competitive forces is bargaining power of customers. A)True B)False
Q5) The question What business are we in? concerns _________________________ strategy.
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Chapter 9: Managerial Decision Making
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Sample Questions
Q1) Satisficing behavior occurs when we choose the first solution alternative that satisfies minimal decision criteria regardless of whether better solutions are expected to exist.
A)True
B)False
Q2) Explain how a manager selects the desired decision in the managerial decision making process.
Q3) The step in the decision making process in which managers analyze the underlying causal factors associated with the situation is called ____________________.
Q4) The classical decision making model assumes that the decision-maker is rational, and makes the optimal decision each time.
A)True
B)False
Q5) __________ is by far the most difficult situation for a decision-maker.
A) Certainty
B) Risk
C) Uncertainty
D) Ambiguity
E) Brainstorming
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Chapter 10: Designing Adaptive Organizations
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Sample Questions
Q1) Which of the following is characterized by use of the Internet and other digital processes to conduct or support business online?
A) Small batch technology
B) Continuous technology
C) Tangible technology
D) Service technology
E) Digital technology
Q2) What is the team approach to departmentalization and what are its main disadvantages?
Q3) The basis for grouping positions into departments and departments into the total organization is referred to as departmentalization.
A)True
B)False
Q4) A(n) ____________________ structure has an overall narrow span and more hierarchical levels.
Q5) The duty to perform the task or activity an employee has been assigned is called accountability.
A)True
B)False
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Chapter 11: Managing Change and Innovation
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Sample Questions
Q1) A strategy based on the ability to deliver products and services faster than competitors is called ______________________________.
Q2) There are many organizational development activities, which are effective in solving many different problems. __________ enhances the cohesiveness and success of organizational groups.
A) Team building
B) Survey feedback
C) Intergroup activities
D) Process-Consultation activities
E) Symbolic management
Q3) Mergers/acquisitions, organizational decline, and conflict management are the three types of current problems that organizational development managers face.
A)True
B)False
Q4) Technology change involves the hierarchy of authority, goals, administrative procedures, and managerial systems.
A)True
B)False
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Chapter 12: Human Resource Management
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Sample Questions
Q1) __________ refers to all monetary payments and all goods or commodities used in lieu of money to reward employees.
A) Bonus
B) Compensation
C) Wages
D) Incentive Pay
E) Point System
Q2) A(n) _________________________ is an interview conducted with departing employees to determine why they are leaving.
Q3) The process of observing and evaluating an employee's performance, recording the assessment, and providing feedback to the employee is referred to as
A) orientation training.
B) classroom training.
C) a paper-and-pencil test.
D) performance appraisal.
E) none of these.
Q4) Explain the Americans with Disabilities Act.
Q5) Describe how to maintain an effective workforce.
Q6) What are the three primary goals of human resource management (HRM)?
Page 14
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Chapter 13: Meeting the Challenge of Diversity
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Sample Questions
Q1) Age, race, and ethnicity are included in the primary dimension of diversity.
A)True
B)False
Q2) Hiring people from different geographic regions of the country but of same nationality refers to workforce diversity.
A)True
B)False
Q3) The major steps involved in building a truly diverse workplace include
A) building a corporate culture that values diversity.
B) changing structures and policies so that they support diversity.
C) diversity awareness training.
D) all of these.
E) building a corporate culture that values diversity and changing structures and policies so that they support diversity.
Q4) Asian and Arab countries are examples of _________________________ cultures.
Q5) Secondary dimension of diversity includes geographic location and religious beliefs. A)True
B)False
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Chapter 14: Dynamics of Behavior in Organizations
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Sample Questions
Q1) Type A behavior pattern is characterized by all of these EXCEPT
A) impatience.
B) devotion to work.
C) aggressiveness.
D) relaxed lifestyle.
E) extreme competitiveness.
Q2) The degree to which a person is calm, enthusiastic, and self-confident, rather than tense, depressed, moody, or insecure is emotional stability.
A)True
B)False
Q3) Proximity is the tendency to group sensory data because they are alike in some way.
A)True
B)False
Q4) What are some of the ways enlightened companies are helping employees cope with stress.
Q5) The second stage in the learning process cycle is a concrete experience.
A)True
B)False
Q6) What are the four components of emotional intelligence? Explain.
Page 16
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Chapter 15: Leadership
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Sample Questions
Q1) The involvement of leader behavior that shows concern for subordinate' well being and personal needs refers to ___________________________________.
Q2) Some of the key characteristics associated with charismatic leaders include
A) visionary skills.
B) communication skills.
C) motivation skills.
D) all of these.
E) none of these.
Q3) __________ power comes from personal sources that are not as invested in the organization, such as personal interests, goals, and values.
A) Motivation
B) Management
C) Personal
D) Control
E) Referent
Q4) ________________________________________ means that the leader consults with his or her subordinates about decisions.
Q5) List the two dimensions used in Blake and Mouton's Leadership Grid.
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Chapter 16: Motivation
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Sample Questions
Q1) The __________ schedule rewards employees at specified time intervals.
A) fixed-ratio
B) variable-interval
C) variable-ratio
D) continuous
E) fixed-interval
Q2) According to Herzberg, which of these has the greatest impact on job satisfaction?
A) Hygiene factors
B) Reinforcers
C) Motivators
D) Dissatisfiers
E) All of these
Q3) According to Herzberg, which of these is an example of a hygiene factor?
A) Achievement
B) Recognition
C) Pay
D) Responsibility
E) Opportunity for growth
Q4) List the four content theories discussed in your text.
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Chapter 17: Communication
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Sample Questions
Q1) Types of organizational barriers to communication are interpersonal dynamics, semantics, and inconsistent cues.
A)True
B)False
Q2) The advantage of a two-way communication is that it is perceived the same in all situations, even if a sender and receiver encodes or decodes language differently.
A)True
B)False
Q3) Perhaps the most important individual skill in overcoming communication barriers is A) selecting appropriate channel for the message.
B) MBWA.
C) active listening.
D) developing and using formal information channels.
E) finding a fit between the structure and the communication needs.
Q4) Presenting hard facts and figures has the same power as telling vivid stories.
A)True
B)False
Q5) Without ____________________, the communication is one-way.
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Chapter 18: Teamwork
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Sample Questions
Q1) The ____________________ style to handle conflict involves a low degree of assertiveness and a low degree of cooperation.
Q2) Briefly discuss the various styles that can be used to handle conflict.
Q3) The ideal size of work teams is often thought to be
Q4) A task force or a crossfunctional team is a group of employees from different departments formed to deal with a specific activity and existing only until the task is completed.
A)True
B)False
Q5) A(n) ____________________ team is composed of employees from about the same hierarchical level but from different areas of expertise.
Q6) Scarce resources are a common cause of conflict.
A)True
B)False
Q7) Productive output pertains to the team's ability to meet the personal needs of its members.
A)True
B)False
Page 20
Q8) Discuss the differences between groups and teams.
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Chapter 19: Managerial and Quality Control
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Sample Questions
Q1) A(n) __________ includes anticipated and actual expenses for a responsibility center.
A) revenue budget
B) cash budget
C) capital budget
D) expense budget
E) operating budget
Q2) Inventory turnover is an activity ratio and measures how many times the inventory is turned over to meet the total sales figure.
A)True
B)False
Q3) An advantage of the bottom-up budgeting process is
A) its emphasis on bureaucratic control.
B) lower managers are more involved.
C) top managers control the information flow.
D) top managers are often not committed to achieving budget targets.
E) all of these.
Q4) A(n) ____________________ ratio indicates an organization's ability to meet its current debt obligations.
Q5) Discuss open-book management and the balanced scorecard.
Page 21
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Chapter 20: Information Technology and E-Business
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Sample Questions
Q1) One of your supervisors gives you a report that analyzes the latest production counts. This supervisor is giving you
A) data.
B) timely updates.
C) information.
D) work that the supervisor should be doing.
E) none of these.
Q2) A management information system is a computer-based system that provides information and support for effective managerial decision making.
A)True
B)False
Q3) Any business that takes place by digital processes over a computer network rather than in physical space refers to ____________________.
Q4) List three types of operations information systems.
Q5) Social networking is a Web log that allows individuals to post opinions and ideas. A)True
B)False
Q6) Differentiate between intranet and extranet.
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Chapter 21: Operations and Value Chain Management
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Sample Questions
Q1) __________ is the best way to control operations.
A) Strategic planning
B) Bureaucratic control
C) Clan control
D) Rules and regulations
E) All of these
Q2) You get __________ when an organization's output of goods and services is divided by its inputs.
A) equity
B) productivity
C) current ratio
D) profit
E) economic order quantity
Q3) The determination and adjustment of the organization's ability to produce products and services to match customer demand is called
A) organizational flexibility.
B) capacity planning.
C) customer satisfaction.
D) MRPII.
E) none of these.
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