Business Organization and Management Exam
Bank
Course Introduction
Business Organization and Management provides an in-depth examination of the principles, functions, and processes that underpin successful organizations in modern business environments. The course explores topics such as organizational structures, managerial roles, leadership styles, decision-making, communication, motivation, and strategic planning. Emphasis is placed on understanding how managers coordinate resources, lead teams, and adapt to changing markets to achieve organizational goals. Students gain practical insights into the challenges faced by todays businesses and develop analytical skills for approaching organizational problems and opportunities.
Recommended Textbook
Business Essentials 11th Edition by Ronald J. Ebert
Available Study Resources on Quizplus
17 Chapters
1916 Verified Questions
1916 Flashcards
Source URL: https://quizplus.com/study-set/555
Page 2
Chapter 1: The US Business Environment
Available Study Resources on Quizplus for this Chatper
110 Verified Questions
110 Flashcards
Source URL: https://quizplus.com/quiz/10342
Sample Questions
Q1) Which of the following is an indication of national economic growth, shown by measuring aggregate output?
A) Gross domestic product
B) Standard of living
C) Economic indicators
D) Gross national product
E) Real growth rate
Answer: A
Q2) The technological environment includes only electronics and telecommunications used to perform business activities.
A)True
B)False
Answer: False
Q3) The primary measure of growth in the business cycle is inflation.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above.
Page 3
Chapter 2: Understanding Business Ethics and Social Responsibility
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/10343
Sample Questions
Q1) What constitutes ethical behavior is determined entirely by the individual.
A)True
B)False
Answer: False
Q2) When a stakeholder uses confidential information to gain from the sale or purchase of a stock, what ethical violation are they engaging in?
A) Whistle-blowing
B) Insider training
C) Social accommodation
D) Collusions
E) Gouging
Answer: B
Q3) The Consumer Bill of Rights is backed by numerous federal and state laws.
A)True
B)False
Answer: True
Q4) Define consumerism.
Answer: Consumerism is social activism dedicated to protecting the rights of consumers in their dealings with businesses.
Page 4
To view all questions and flashcards with answers, click on the resource link above.
Chapter 3: Entrepreneurship, New Ventures, and Business Ownership
Available Study Resources on Quizplus for this Chatper
124 Verified Questions
124 Flashcards
Source URL: https://quizplus.com/quiz/10344
Sample Questions
Q1) When an entrepreneur has the goals of growth and expansion, with the vision of turning the business into a large business, what term is used when referring to the business?
A) Visionary
B) Small Business
C) Diversification
D) Start-up
E) Expansionist
Answer: D
Q2) A limited liability corporation is a hybrid of a publicly held corporation and a partnership.
A)True
B)False
Answer: True
Q3) The failure rate among small businesses has been increasing in recent years.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Understanding the Global Context of Business
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/10345
Sample Questions
Q1) Which of the following is NOT considered an international organizational structure?
A) Independent agents
B) Licensing arrangements
C) Foreign direct investments
D) Branch office
E) Exporters
Q2) What typically happens to a country's balance of trade as the value of its currency falls?
A) It improves.
B) It declines.
C) It remains the same.
D) It fluctuates drastically.
E) It fluctuates moderately.
Q3) Explain a floating exchange rate.
Q4) The World Trade Organization (WTO)was created to encourage international trade.
A)True
B)False
Q5) In assessing a country's national competitive advantage, what is meant by factor conditions?
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Managing the Business
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/10346
Sample Questions
Q1) Discuss the four main purposes of organizational goal setting.
Q2) What does e-partnering involve?
A) Buying shares of small companies that provide technology unavailable to the purchasing company
B) Buying shares of small companies that are similar to the purchasing firm
C) Linking up to the inventory records of another company
D) Sharing a Web server with another company
E) Advertising another company on the purchasing company's Web site
Q3) Define the term management.
Q4) Define the term corporate culture.
Q5) Which type of manager spends most of their time working with and supervising the employees who report to them?
A) First-line managers
B) Information managers
C) Top managers
D) Chief executive officers
E) Operations managers
Q6) SWOT analysis is usually conducted before strategic goals have been established.
A)True
B)False
Page 7
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: Organizing the Business
Available Study Resources on Quizplus for this Chatper
108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/10347
Sample Questions
Q1) Which of the following structures relies on product departmentalization?
A) Matrix
B) Functional
C) Divisional
D) International
E) Regional
Q2) What is the power to make the decisions necessary to complete a task called?
A) Delegation
B) Specification
C) Authority
D) Responsibility
E) Accountability
Q3) Job specialization is the process of eliminating unnecessary or undesirable jobs.
A)True
B)False
Q4) A virtual organization has little or no formal structure.
A)True
B)False
Q5) What is delegation? Identify four reasons that managers have trouble delegating.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Operations Management and Quality
Available Study Resources on Quizplus for this Chatper
119 Verified Questions
119 Flashcards
Source URL: https://quizplus.com/quiz/10348
Sample Questions
Q1) Which term refers to collaborative groups of employees from various work areas who meet regularly to define, analyze, and solve common production problems?
A) Quality improvement teams
B) Quality assurance teams
C) Quality control teams
D) Quality evaluation teams
E) Quality review teams
Q2) Which term refers to the strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or services?
A) Outsourcing
B) Reengineering
C) Controlling
D) Scheduling
E) Warehousing
Q3) Inventory control is the means of moving resources to the producer and finished goods to the customer.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Employee Behavior and Motivation
Available Study Resources on Quizplus for this Chatper
114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/10349
Sample Questions
Q1) When an employee sees themselves as a member of the team and can easily identify with the organization's mission, what is the result?
A) Organizational commitment
B) Psychological contracts
C) Cognitive dissonance
D) Intention
E) Cognition
Q2) If an employee feels they have the skills and ability needed to perform a task well, they are better able to focus their attention on performance because of their high degree of
A) self-esteem.
B) locus of control.
C) risk propensity.
D) self-efficacy.
E) cognitive dissonance.
Q3) Discuss modified work schedules and how they increase job satisfaction.
Q4) Job rotation is a form of job enrichment.
A)True
B)False
Q5) What are some potential consequences of employees being dissatisfied?
Page 10
To view all questions and flashcards with answers, click on the resource link above.
Chapter 9: Leadership and Decision Making
Available Study Resources on Quizplus for this Chatper
112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/10350
Sample Questions
Q1) Which states the correct definition of collectivism?
A) A greater focus on group characteristics than on individual characteristics
B) A greater focus on the group than on the individual
C) A greater focus on the individual within a group than on the individual without a group
D) A greater focus on individuals who are most successful
E) A greater focus on groups that have been operative for the longest time
Q2) Which of following describes the activities MOST involved with transactional leadership?
A) The implementation of a corporate vision
B) The implementation of organizational transformations
C) The implementation of routine activities
D) The implementation of employee incentives
E) The implementation of situational problem solving
Q3) Which of the following is a fundamental element of charismatic leadership?
A) Planning
B) Controlling
C) Analyzing
D) Influencing
E) Organizing
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Human Resource Management and Labor Relations
Available Study Resources on Quizplus for this Chatper
124 Verified Questions
124 Flashcards
Source URL: https://quizplus.com/quiz/10351
Sample Questions
Q1) Describe the purpose of the Wagner Act, including how the Act is enforced.
Q2) Which type of plan intentionally seeks out employees from underrepresented groups within the organization?
A) Civil Rights
B) Adverse impact
C) Employment at will
D) Patriot Act
E) Affirmative action
Q3) Talent management reflects the organization's investment in attracting and motivating an effective workforce.
A)True
B)False
Q4) Which of the following outlines the duties of a job, its working conditions, and the tools, materials, and equipment used to perform it?
A) Job advertisement
B) Job specification
C) Job description
D) Job analysis
E) Job report
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Marketing Processes and Consumer Behavior
Available Study Resources on Quizplus for this Chatper
116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/10352
Sample Questions
Q1) Which of the following represents a feature or image that makes one product different from its competitors?
A) Marketing strategy
B) Product differentiation
C) Place distribution
D) Personal selling
E) Product positioning
Q2) What type of goods includes raw materials used to produce other products?
A) Substitute products
B) Industrial goods
C) Consumer goods
D) Marketing goods
E) Disposable goods
Q3) What are the tangible and intangible qualities that a company builds into its products?
A) Features
B) Requirements
C) Benefits
D) Safety devices
E) Guarantees
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Developing and Pricing Products
Available Study Resources on Quizplus for this Chatper
110 Verified Questions
110 Flashcards
Source URL: https://quizplus.com/quiz/10353
Sample Questions
Q1) Which of the following costs refers specifically to those that change with the quantity of a product sold or produced?
A) Annual costs
B) Variable costs
C) Fixed costs
D) Marginal costs
E) Market-adjusted costs
Q2) Using the odd-even psychological pricing strategy, a restaurant would price an entree at $10.00 rather than $9.95.
A)True
B)False
Q3) What is branding? Explain what branding is and give an example of branding.
Q4) Which of the following includes the tangible and intangible features that characterize a service?
A) Process selection
B) Service process design
C) Product life cycle
D) Benefits
E) Service value package
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Distributing and Promoting Products
Available Study Resources on Quizplus for this Chatper
116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/10354
Sample Questions
Q1) What is the term for the wholesaler who sells directly to retail stores and provides services such as pricing and shelf displays?
A) Full-service merchant wholesalers
B) Drop shippers
C) Limited-function merchant wholesalers
D) Rack jobbers
E) Merchant wholesalers
Q2) Describe the services provided by merchant wholesalers.
Q3) Explain the primary difference between a wholesaler and a sales agent.
Q4) What are the three major classifications of retail outlets in the United States?
A) Large-sized outlets, medium-sized specialty shops, small-sized convenience stores
B) Product-based retailers, bargain-based retailers, convenience-based retailers
C) Quality-based retailers, quantity-based retailers, specialty-based retailers
D) Producer-owned retailers, franchised retailers, independently owned retailers
E) Brick-and-mortar retailers, e-retailers, hybrid retailers
Q5) Why is water the least expensive mode of transportation?
Q6) Explain the primary difference between a retailer and a wholesaler.
Q7) Describe the services provided by e-intermediaries.
Q8) What limits the economic side of using railroads for transportation?
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Information Technology (IT)for Business
Available Study Resources on Quizplus for this Chatper
108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/10355
Sample Questions
Q1) Explain the principle of mass-customization.
Q2) What type of system allows customers electronic access to a supplier's delivery times, increasing sales, profits, customer service, and loyalty?
A) Distribution channel
B) Intranet
C) Handbook
D) Extranet
E) Product availability
Q3) What is spam?
A) A form of firewall
B) Intellectual property
C) Junk e-mail
D) A form of hacking
E) Wireless mooching
Q4) What feature does a firewall provide?
A) Internet access
B) Protection from electrical surges
C) Connectivity between stations in a LAN
D) Privacy protection
E) Links to computers in a WAN
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 15: The Role of Accountants and Accounting Information
Available Study Resources on Quizplus for this Chatper
109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/10356
Sample Questions
Q1) What does a statement of cash flow describe?
A) Gross profit compared to operating expenses
B) Value of revenues compared to cost of revenues
C) Yearly receipts and cash payments
D) Cost of obtaining materials needed to produce products
E) Funds that flow into the business from the sale of the goods or services provided
Q2) Which of the following terms refers to any economic resource that is expected to benefit a firm or individual who owns it?
A) Asset
B) Liability
C) Equity
D) Account
E) Deposit
Q3) For what types of organizations do forensic accountants work?
Q4) Discuss the role of a private accountant within large and small firms.
Q5) Why is it important to have ethical codes in the field of accounting?
Q6) If a company's assets exceed its liabilities, owners' equity is negative.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Understanding Money and the Role of Banking
Available Study Resources on Quizplus for this Chatper
110 Verified Questions
110 Flashcards
Source URL: https://quizplus.com/quiz/10357
Sample Questions
Q1) Which of the following statements BEST describes why U.S. Treasury securities have always been considered risk-free investments?
A) They are backed by the U.S. government.
B) They have a guaranteed rate of return.
C) They are easily sold.
D) They are readily available for purchase.
E) They earn a great profit on the international money market.
Q2) The divisibility characteristic of money is illustrated by a financial company's ability to divide its monetary assets among several investments.
A)True
B)False
Q3) When a bank's assets are sold to settle debt during a bank failure, what happens to the resulting gain?
A) Remaining funds are added to the insurance deposit funds.
B) Remaining funds are deducted to those paid by the insurance deposit funds.
C) Remaining funds are used to buy and consolidate smaller banks.
D) Remaining funds are dispersed to depositors to help offset losses.
E) Remaining funds are returned to the bank to aid in recovery.
Q4) Why would a consumer utilize trust services offered by commercial banks?
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Managing Business Finances
Available Study Resources on Quizplus for this Chatper
118 Verified Questions
118 Flashcards
Source URL: https://quizplus.com/quiz/10358
Sample Questions
Q1) How does a corporate raider attempt to take control of a company and its assets?
A) Buying shares of stock on the open market
B) Joining the Board of Directors
C) Attend the annual shareholders' meeting to solicit support
D) Increase the value of shares on the market prompting a large sell off
E) Buying stock in competitor's companies
Q2) What is the first sale of a company's stock to the general public called?
A) IPO
B) Going public
C) Par value
D) Venture capital
E) Portfolio
Q3) In which type of market would investors be motivated to sell because they feel prices will fall further?
A) Bear market
B) Blue-chip market
C) Bull market
D) Large cap market
E) Composite market
Q4) Explain what exchange-traded funds are and how they are tracked.
Page 19
To view all questions and flashcards with answers, click on the resource link above.