Introduction to Business Exam Review
Course Introduction
Introduction to Business provides a comprehensive overview of the fundamental concepts and principles that drive modern organizations. The course covers essential topics such as the roles and environments of businesses, forms of business ownership, management and organizational structures, marketing, finance, accounting, human resources, and the impact of global and ethical issues. Through case studies, group projects, and real-world examples, students gain practical insights into how businesses operate and make decisions, preparing them for more advanced studies in business or entry-level positions in the business world.
Recommended Textbook
Fundamentals of Management 8th Edition by Ricky Griffin
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15 Chapters
1628 Verified Questions
1628 Flashcards
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Page 2
Chapter 1: Understanding the Managers Job
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108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/21693
Sample Questions
Q1) A group of people working together in a structured and coordinated fashion to achieve a set of goals is called a(n) _____.
Answer: organization
An organization is a group of people working together in a structured and coordinated fashion to achieve a set of goals.
Q2) _____ managers implement company policies while also supervising lower-level managers.
Answer: Middle Middle managers are primarily responsible for implementing the policies and plans developed by top managers and for supervising and coordinating the activities of lower-level managers.
Q3) Which of the following would be included in the management function of planning?
A) Selecting the course of action most likely to lead to success
B) Monitoring progress toward the achievement of goals
C) Motivating others to higher levels of achievement
D) Communicating company policies to subordinates
E) Organizing people and resources
Answer: A
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3
Chapter 2: The Environment of Organizations and Managers
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) The set of broad dimensions and forces in an organization's surroundings that determines its overall context is called the:
A) task environment.
B) general environment.
C) physical work environment.
D) regulatory environment.
E) ethical environment.
Answer: B
Q2) Alex, one of the proprietors of Atlas Corp. is worried.The stock market was not doing well, unemployment was 10 percent, inflation was on the rise again, and government debt was still increasing. These concerns of Alex are related to the _____ dimension of the general environment of Atlas Corp.
A) legal
B) sociocultural
C) technological
D) political
E) economic
Answer: E
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Chapter 3: Planning and Strategic Management
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Range of markets in which the organization competes
A)Distinctive competence
B)Resource deployment
C)Scope
D)Synergy
Answer: C
Q2) Which of the following is most closely associated with an overall cost leadership strategy?
A) Manufacturing highly-customized products
B) Manufacturing products in bulk
C) Providing highly efficient customer service that is better than any other competitor
D) Selling products at high prices
E) Using expensive raw materials
Answer: B
Q3) McDonald's owns and franchises fast-food restaurants.
A)Single-product strategy
B)Related diversification
C)Unrelated diversification
Answer: A
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Page 5
Chapter 4: Managing Decision Making
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110 Verified Questions
110 Flashcards
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Sample Questions
Q1) A Ponzi pyramid scheme that requires more and more investment to pay earlier investors
A)Coalition
B)Intuition
C)Escalation of commitment
D)Risk propensity
E)Satisficing
Q2) Which of the following statements is true in the context of decision making under a condition of uncertainty?
A) A decision maker greatly relies on intuition, judgment, and experience.
B) A decision maker clearly knows all the risks associated with alternatives to a problem.
C) A decision maker puts in least effort and uses a pre-determined structure for decision making.
D) A decision maker is able to estimate the payoffs and risks associated with alternatives.
E) A decision maker identifies only two alternatives to the decision situation.
Q3) A _____ is a form of group decision making in which a group arrives at a consensus of expert opinion.
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Chapter 5: Entrepreneurship and New Venture Management
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114 Verified Questions
114 Flashcards
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Sample Questions
Q1) Which of the following is a good strategy for small businesses entering the retail industry?
A) Targeting a wide customer base
B) Selling standard rather than specialty products
C) Focusing on a narrow market segment
D) Increasing overhead costs
E) Emphasizing a cost leadership rather than a niche strategy
Q2) _____ are federally licensed to borrow money from the Small Business Administration and to invest it in or lend it to small businesses.
A) Small business investment companies
B) Small business angel investors
C) Venture capitalists
D) Small business management consultants
E) Regulatory agencies
Q3) Identify an advantage of a franchising agreement.
A) The franchiser gets all the profits made by the franchisee venture.
B) The franchisee has scope for innovation and can modify products.
C) The franchiser does not have to help the franchisee manage the venture.
D) The franchisee does not have to pay a start-up cost.
Page 7
E) The franchiser can grow rapidly from franchising agreements.
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Chapter 6: Organization Structure and Design
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) The _____ design is essentially a holding company that results from unrelated diversification.
A) H-form
B) U-form
C) divisional
D) departmental
E) M-form
Q2) Gadgetbug Inc. manufactures home appliances. All the decisions are made by the top managers at the company. The middle and lower managers follow the instructions given by top managers rather than making decisions by themselves. Which of the following concepts is illustrated in the scenario?
A) Self-dealing
B) Synergy
C) Centralization
D) Specialization
E) Delegation
Q3) When a manuscript is written by an author, edited, and sent to a printer for printing, this process represents _____ interdependence.
Q4) Describe the job characteristics approach to job design.
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Chapter 7: Organization Change and Innovation
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Which of the following represents organization change in the area of change in technology and operations?
A) Changing line and staff relationships
B) Upgrading the management information system
C) Training people to give them new skills and abilities
D) Redesigning jobs
E) Changing the authority distribution in a company
Q2) _____ is change that is designed and implemented in an orderly and timely fashion in anticipation of future events.
A) Planned change
B) Reactive change
C) Involuntary change
D) Organic change
E) Crisis change
Q3) Reactive changes:
A) are made in anticipation of future events.
B) are generally more effective than planned changes.
C) have more potential for poorly conceived and executed change.
D) involve fewer risks than planned changes.
E) are preferred to planned changes by most successful organizations.
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Chapter 8: Managing Human Resources in Organizations
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106 Verified Questions
106 Flashcards
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Sample Questions
Q1) Deciding to pay your employees the industry average for a particular job is called the _____ decision.
Q2) During a job interview, Sarah asked the HR manager if the company would provide her a family insurance or a retirement plan. She was discussing the _____ that companies generally offer.
A) benefits
B) intangible benefits
C) incentives
D) wages
E) progressions
Q3) The CEO of Redd Inc. needs to know the names of the line managers in the company who will soon be ready to take up positions in middle management. The CEO can obtain this information from the _____.
A) demand forecast
B) job analysis
C) supply forecast
D) job evaluation
E) replacement chart
Q4) _____ is the process of dealing with employees who are represented by a union.
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Chapter 9: Basic Elements of Individual Behavior in Organizations
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106 Verified Questions
106 Flashcards
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Sample Questions
Q1) Lucy's work is above average as far as quality and quantity of production goes; however, she refuses to do anything beyond the strict performance of her required job tasks. This is an example of
A) cognitive dissonance.
B) a Type B personality.
C) poor organizational citizenship.
D) burnout.
E) a person with an external locus of control.
Q2) Susan places an order for printer ink cartridges from an office supply firm. A majority of the cartridges were found to be defective. In spite of repeated queries to the supply firm, Susan had to deal with poor customer service. The experience led Susan in believing that the firm is not a reliable supplier. This reflects the _____ component of her attitude about the supply firm.
Q3) Identify the contribution made by an individual to a psychological contract.
A) Job security
B) Recognition
C) Pay
D) Effort
E) Benefit
11
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Chapter 10: Managing Employee Motivation and Performance
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109 Verified Questions
109 Flashcards
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Sample Questions
Q1) Assurance on ____ can satisfy the security needs of an employee in the workplace.
A) comfortable work environment
B) positive self-image
C) adequate wages
D) job continuity
E) recognition
Q2) Rewards tied specifically to _____ have the greatest impact on enhancing motivation.
A) outcome
B) performance
C) effort
D) ability
E) skill
Q3) Which of the following is a group based incentive reward system?
A) Merit pay
B) Gainsharing
C) Piece-rate incentive plan
D) Annual pay raise
E) Sales commission
Page 12
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Chapter 11: Leadership and Influence Processes
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106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/21703
Sample Questions
Q1) _____ describes activities carried out for the specific purpose of acquiring, developing, and using power and other resources to obtain one's preferred outcomes.
A) Group cognition
B) Workplace diversity
C) Organizational culture
D) Political behavior
E) Collective intelligence
Q2) According to the Michigan studies, managers using _____ behavior are interested in developing a cohesive work group and ensuring that employees are satisfied with their jobs.
A) consideration
B) initiating structure
C) job-centered leader
D) employee-centered leader
E) authoritative
Q3) Managers should get disagreements out in the open so that subordinates will have less opportunity for _____ through using conflict for their own purposes.
Q4) Impression management and inducement are forms of _____ behavior.
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Chapter 12: Communication in Organizations
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) Which system is typically used by online retailers to take orders from customers?
A) Transaction-processing systems
B) Executive support systems
C) Artificial intelligence
D) Expert systems
E) Personal Digital Technology
Q2) Manish is giving a party at his home and has put together a complete plan for the event. He has chosen to invite eleven people to the party. Which type of network would be most effective in communicating the invitations?
A) Chain
B) Y
C) Circle
D) All channel
E) Wheel
Q3) _____ communication blurs the differences between oral and written communication and can help each be more effective.
Q4) Compare and contrast oral and written communication.
Q5) _____ information presents the manager with all the known, relevant facts.
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Chapter 13: Managing Work Groups and Teams
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112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/21705
Sample Questions
Q1) Acknowledging the existence of conflict but downplaying its importance is known as
A) confrontation
B) compromise
C) stimulation
D) soldiering
E) smoothing
Q2) A shift supervisor in a department store is a member of a(n):
A) interest group.
B) problem-solving team
C) virtual team.
D) task group.
E) functional group.
Q3) _____ conflict occurs when there is a conflict between two or more roles.
A) Intrarole
B) Intersender
C) Intrasender
D) Interrole
E) Person-role
Q4) Differentiate between formal and informal leaders.
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Chapter 14: Basic Elements of Control
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) The first step in the control process is:
A) modifying control standards.
B) comparing performance against standards.
C) measuring performance.
D) establishing control standards.
E) determining the need for corrective action.
Q2) Organizations that use _____ strategic control believe it is effective because it allows the home office to keep better informed of the performance of foreign units.
A) organic
B) centralized
C) mechanistic
D) bureaucratic
E) environmental
Q3) A(n) _____ lists the assets and liabilities of an organization at a specific point in time.
Q4) Describe the three broad classes of budgets.
Q5) Managers at a technology start-up hire an agency to perform an environmental analysis for their firm. This is an example of control of _____ resources.
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Chapter 15: Managing Operations, Quality, and Productivity
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107 Verified Questions
107 Flashcards
Source URL: https://quizplus.com/quiz/21707
Sample Questions
Q1) Which of the following involves managing the organization's raw materials, work in process, finished goods, and products in transit?
A) Technology control
B) Purchasing management
C) Inventory control
D) Procurement
E) Quality control
Q2) Which of the following is true of automation?
A) The development of automation has created jobs across all industries.
B) Automated machines make more errors.
C) Automation discourages innovation.
D) Automation helps to improve products and services.
E) Automation was the earliest step in the development of machines and machine-controlling devices.
Q3) Which of the following is also called inventory control?
A) Technology control
B) Purchasing management
C) Procurement
D) Materials control
E) Quality control
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