Course Introduction
Management Principles
Test Bank
Management Principles provides an in-depth exploration of the fundamental concepts and theories that form the foundation of effective management within organizations. This course examines the roles, skills, and functions of managers, covering key topics such as planning, organizing, leading, and controlling. Students will analyze various management approaches, decision-making processes, motivational strategies, and the importance of communication and teamwork in achieving organizational goals. Through case studies and practical examples, the course emphasizes the application of management principles in real-world scenarios, preparing students for leadership roles across diverse industries.
Recommended Textbook Business Eighth Canadian Edition by
Ricky W. Griffin
Available Study Resources on Quizplus
19 Chapters
4123 Verified Questions
4123 Flashcards
Source URL: https://quizplus.com/study-set/3794
Page 2
Chapter 1: Understanding the Canadian Business System
Available Study Resources on Quizplus for this Chatper
213 Verified Questions
213 Flashcards
Source URL: https://quizplus.com/quiz/75738
Sample Questions
Q1) Something that would contribute directly to improving labour as a factor of production would be
A) finding new oil reserves.
B) better education for more of the population.
C) increasing the purchasing power of employees.
D) programs designed to decrease unemployment.
E) finding more efficient ways to produce products.
Answer: B
Q2) The development of labour unions and collective bargaining agreements were major elements of the
A) colonial period.
B) production era.
C) global era.
D) entrepreneurial era.
E) industrial revolution.
Answer: B
Q3) Communism and socialism are both types of command economies.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Understanding the Environments of Business
Available Study Resources on Quizplus for this Chatper
225 Verified Questions
225 Flashcards
Source URL: https://quizplus.com/quiz/75739
Sample Questions
Q1) What is a vertical merger?
Answer: A vertical merger occurs when one of the companies involved in the merger is a supplier or customer of the other.
Q2) Although many people associate technology with manufacturing,it is also a significant force in the service sector.
A)True
B)False
Answer: True
Q3) A(n)________ is a merger to two firms that have previously had a buyer-seller relationship.
A) hostile take over
B) conglomerate merger
C) friendly take over
D) vertical merger
E) enterprise merger
Answer: D
Q4) What is the main measure of growth in the business cycle?
Answer: The main measure of growth in the business cycle is aggregate output.
To view all questions and flashcards with answers, click on the resource link above.
Page 4
Chapter 3: Conducting Business Ethically and Responsibly
Available Study Resources on Quizplus for this Chatper
237 Verified Questions
237 Flashcards
Source URL: https://quizplus.com/quiz/75740
Sample Questions
Q1) Collusion occurs when two or more firms agree to collaborate on such wrongful acts as price fixing.
A)True
B)False
Answer: True
Q2) The Personal Information Protection and Electronic Documents Act (PIPEDA)
A) is designed to protect electronic documents from computer hackers.
B) requires organizations to obtain consent before they collect,use,or disclose information about individuals.
C) has been declared unconstitutional.
D) prohibits organizations from using personal information about their employees.
E) applies almost exclusively to universities.
Answer: B
Q3) Cheque kiting is unethical but not illegal.
A)True
B)False
Answer: False
Q4) List five general categories of organizational stakeholders.
Answer: Customers,employees,investors,suppliers,and local communities.
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Understanding Entrepreneurship, small
Business, and New Venture Creation
Available Study Resources on Quizplus for this Chatper
221 Verified Questions
221 Flashcards
Source URL: https://quizplus.com/quiz/75741
Sample Questions
Q1) Entrepreneurship is defined as an individual's willingness to take advantage of business opportunities and to assume the risks of establishing and operating a business.
A)True
B)False
Q2) Judy is a graduate from a denturist program.Normally,graduates start up their own business,much like dentists and doctors.She has the choice of starting on her own or buying an existing practice.What is an advantage for her of starting a new business from scratch?
A) No suffering from prior owner's errors
B) Odds are better to succeed
C) Relationship with suppliers already established
D) Needs and desires of customers known
E) The risks are lower than if she were to buy an existing practice
Q3) The franchise agreement usually requires that the franchisee pay a fee to the franchisor,but sometimes it is the other way around.
A)True
B)False
Q4) Where do the majority of entrepreneurial ideas come from?
Page 6
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: The Global Context of Business
Available Study Resources on Quizplus for this Chatper
213 Verified Questions
213 Flashcards
Source URL: https://quizplus.com/quiz/75742
Sample Questions
Q1) What are the advantages of forming a strategic alliance?
Q2) Identify the different means a government may take to discourage trade.Explain each.
Q3) Walmart is an example of a(n)
A) exporter.
B) international firm.
C) government agency.
D) multinational firm.
E) strategic alliance.
Q4) The balance of merchandise trade that Canada has experienced has been
A) changing between favourable and unfavourable with about a seven-year cycle.
B) unfavourable since Confederation.
C) favourable for most of the last thirty years.
D) unfavourable for the last thirty years.
E) favourable since Confederation.
Q5) Other than the Canada-U.S.Free Trade Agreement and NAFTA,identify some of the other free trade agreements in the Americas.
Q6) What is an independent agent?
Q7) Describe the forces that have combined to spark and sustain globalization.
Q8) Discuss the theory of national competitive advantage.
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Managing the Business Enterprise
Available Study Resources on Quizplus for this Chatper
252 Verified Questions
252 Flashcards
Source URL: https://quizplus.com/quiz/75743
Sample Questions
Q1) Jim wants to apply the rational decision-making process to a management problem he is facing.He has already recognized and defined the decision-making situation.What should he do next?
A) Select the best alternative
B) Identify alternatives
C) Evaluate alternatives
D) Implement the chosen alternative
E) Follow up and evaluate the results
Q2) An organizational analysis involves looking for ________,while an environmental analysis involves looking for ___________:
A) threats; opportunities
B) opportunities; threats
C) strengths and weaknesses; threats and opportunities
D) threats and opportunities; strengths and weaknesses
E) strengths and weaknesses; competitors
Q3) In a SWOT analysis,strengths,weaknesses,opportunities,and threats are factors external to the firm.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 8
Chapter 8: Managing Human Resources
Available Study Resources on Quizplus for this Chatper
228 Verified Questions
228 Flashcards
Source URL: https://quizplus.com/quiz/75744
Sample Questions
Q1) Computers B Us is thinking about evaluating the performance of its software programmers based on the number of lines of code they produce.If the following facts were known,which one would suggest that this idea is unwise?
A) Software programmers typically don't have direct contact with customers,nor do they decide on product specifications.
B) The company has found a way to use fewer lines of code to perform a given function than its competitors.
C) Software programmers can decide to program in such a way that the number of lines required to perform a function increases.
D) The financial success of the company is dependent on having an effective software programming team.
E) Most of the current programmers would receive poor evaluations if they are evaluated based on the number of lines of code.
Q2) A key purpose of forecasting is to determine the demands that workers are likely to make for higher wages and better working conditions.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
9
Chapter 9: Understanding Labourmanagement Relations
Available Study Resources on Quizplus for this Chatper
163 Verified Questions
163 Flashcards
Source URL: https://quizplus.com/quiz/75745
Sample Questions
Q1) Many foreign manufacturers who have set up shop in North America have avoided unionization efforts by providing job security and a work environment where employees are allowed to participate in plant management.
A)True
B)False
Q2) Suppose that you are a welder and that you belong to a union comprised of other welders.You hold meetings at your union hall and wait there for jobs.This would be an example of a(n)
A) industrial union.
B) common union.
C) local union.
D) international union.
E) craft union.
Q3) Most strikes in Canada are economic strikes.
A)True
B)False
Q4) Describe the different types of unions: craft union,industrial union,local union,national union,international union,and independent local union.
Q5) What are the main provisions of the Canada Labour Code?
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 10: Motivating and Leading Employees
Available Study Resources on Quizplus for this Chatper
261 Verified Questions
261 Flashcards
Source URL: https://quizplus.com/quiz/75746
Sample Questions
Q1) Which of the following is not an organizational benefit of satisfied workers?
A) Fewer grievances
B) High turnover
C) Increased commitment to the employer
D) More loyalty to the organization
E) Higher level of effort
Q2) Kathy believes that her workers are naturally energetic,growth-oriented,self-motivated,and interested in being productive.Her beliefs closely parallel the ________ theory of motivation.
A) Theory Y
B) Theory X
C) two-factor theory
D) expectancy theory
E) hierarchy of needs
Q3) Which of the following is not one of the "Big 5" personality traits?
A) Agreeableness
B) Extroversion
C) Conscientiousness
D) Emotionality
E) Emotional intelligence
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 11: Producing Goods and Services
Available Study Resources on Quizplus for this Chatper
201 Verified Questions
201 Flashcards
Source URL: https://quizplus.com/quiz/75747
Sample Questions
Q1) Marvin works in a machine shop.It is likely that the shop uses a process layout.
A)True
B)False
Q2) Capacity planning means ensuring that a firm's capacity exactly meets the normal demand for its product.
A)True
B)False
Q3) The layout that is efficient because it simplifies work tasks and uses unskilled labour is the ________ layout.
A) customer
B) process
C) product
D) cellular
E) fixed-position
Q4) Identify and briefly discuss the three types of layout planning.
Q5) What is a PERT chart?
Q6) What is the difference between production and operations?
Q7) Identify the primary factor influencing the location of high-contact services.
Q8) What is a master production schedule?
Q9) How should capacity planning be done for service businesses? Page 12
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Increasing Productivity and Quality
Available Study Resources on Quizplus for this Chatper
175 Verified Questions
175 Flashcards
Source URL: https://quizplus.com/quiz/75748
Sample Questions
Q1) Business process re-engineering is designed to improve both the productivity and the quality of business processes.
A)True
B)False
Q2) TQM starts by focusing on which of the following parts of the business?
A) Employees
B) Customers
C) Suppliers
D) Competitors
E) Investors
Q3) Give an example of an external failure.
Q4) When fashion house Louis Vuitton revamped its system in order to ensure that retailers would always have "hot" items available,this was an example of effective
A) supply chain management.
B) flow-through analysis.
C) benchmarking.
D) business process re-engineering.
E) marketing research.
Q5) What is the formula for labour productivity for a country?
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Managing Information Systems and Communication Technology
Available Study Resources on Quizplus for this Chatper
197 Verified Questions
197 Flashcards
Source URL: https://quizplus.com/quiz/75749
Sample Questions
Q1) With regard to Walmart's information system,it is correct to say that
A) the system customizes reordering and delivery procedures for suppliers.
B) the system's top priority is customer satisfaction with prices.
C) the system does not allow outside firms to connect to it.
D) the system speeds up deliveries and holds down costs.
E) none of these are correct.
Q2) Heather is a top manager at a consumer products company.She is thinking about what lines of business her company should be in five years from now.She would find a decision support system most useful.
A)True
B)False
Q3) IS knowledge workers include
A) data processors.
B) word processors.
C) administrative assistants.
D) systems analysts and designers.
E) data workers.
Q4) Middle managers are the largest MIS user group.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Understanding Accounting Issues
Available Study Resources on Quizplus for this Chatper
212 Verified Questions
212 Flashcards
Source URL: https://quizplus.com/quiz/75750
Sample Questions
Q1) What does the balance sheet show?
A) It shows the share price of the firm during the last year and how much fluctuation there has been in the share price.
B) It shows short- and long-term liquidity ratios,profitability ratios,and activity ratios.
C) It shows a firm's financial condition on a particular date in terms of its assets,liabilities,and owners' equity.
D) It shows investors how much profit the firm made during the last year.
E) It shows a firm's sources and uses of cash.
Q2) The most commonly used activity ratio is the debt-to-equity ratio,which is calculated as current assets divided by current liabilities.
A)True
B)False
Q3) There are really only two users of accounting information: the business managers whose activities have generated the information,and the government taxation officials who tax the business.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
16
Chapter 15: Understanding Marketing Processes and Consumer Behaviour
Available Study Resources on Quizplus for this Chatper
227 Verified Questions
227 Flashcards
Source URL: https://quizplus.com/quiz/75751
Sample Questions
Q1) ________ is segmentation by such traits as age,income,gender,ethnicity,and marital status.
A) Random selection
B) Demographics
C) Psychographics
D) Product-use
E) Geographics
Q2) To help you decide which new suit to purchase for your job interview,you ask a trusted friend to give you her opinion on each of the suits you're looking at.You are in the ________ stage of the consumer buying process.
A) post-purchase evaluation
B) purchase decision
C) evaluation of alternatives
D) information seeking
E) problem recognition
Q3) What marketing factors are appropriate for successful small business firms? Discuss how these factors figure in the failure of other small firms.
Q4) What is primary data?
Q5) What is market segmentation and why is it important?
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Developing and Promoting Goods and Services
Available Study Resources on Quizplus for this Chatper
241 Verified Questions
241 Flashcards
Source URL: https://quizplus.com/quiz/75752
Sample Questions
Q1) It takes about 50 new product ideas to generate one product that finally reaches the marketplace.Even then,about 9 of out 10 new products fail.
A)True
B)False
Q2) Goods that are very important,expensive,and rarely purchased are ________ goods.
A) shopping
B) impulse
C) convenience
D) coincidental
E) specialty
Q3) Compared with most other languages,ads in English take up more print space and air time because English takes more words to explain concepts.
A)True
B)False
Q4) What are the four stages in the product life cycle?
Q5) From a company's perspective,the best level of brand loyalty is brand preference. A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Pricing and Distributing Goods and Services
Available Study Resources on Quizplus for this Chatper
232 Verified Questions
232 Flashcards
Source URL: https://quizplus.com/quiz/75753
Sample Questions
Q1) Direct selling is the main strategy of such firms as Tupperware,Amway,and Avon.
A)True
B)False
Q2) By stocking a new,highly visible line of shampoos priced lower than local stores,Jack is trying to increase
A) the quality of hair of the youth in the area.
B) the break-even point.
C) yield management.
D) fixed costs so that the variable costs would decrease.
E) his market share of the hair product market.
Q3) Pricing new products is usually a choice between skimming and penetration.
A)True
B)False
Q4) Explain the various pricing philosophies and strategies for new and existing products.
Q5) All things considered,trucks are the best method of transportation.
A)True
B)False
Q6) What is the difference among exclusive,selective,and intensive distribution?
Q7) Describe the advantages of pipelines as a mode of transportation.
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Understanding Money and Banking
Available Study Resources on Quizplus for this Chatper
207 Verified Questions
207 Flashcards
Source URL: https://quizplus.com/quiz/75754
Sample Questions
Q1) A debit card
A) is an identification card issued by a credit union to its members who must present the card when conducting business at the credit union.
B) allows the user to move money via digital electronic transmissions.
C) permits the holder to transfer money from his/her chequing account to the store's account.
D) permits the holder to purchase a product and to pay for it later.
E) is an identification card issued by a consumer finance company to its members who must present the card when conducting business at the company.
Q2) Experts are increasingly sounding a warning about mounting credit card debt.Given that,which of the following would be an unwise strategy for a credit card company?
A) Making sure the company's credit card rules are clear and easy to understand.
B) Charging the same interest rate as other credit card companies.
C) Ensuring that fees for exceeding credit limits are no higher than necessary.
D) Increasing the value of the promotional items that are used to attract new credit card customers.
E) Offering free debt counselling to credit card customers.
To view all questions and flashcards with answers, click on the resource link above.
Page 20
Chapter 19: Understanding Securities and Investments
Available Study Resources on Quizplus for this Chatper
190 Verified Questions
190 Flashcards
Source URL: https://quizplus.com/quiz/75755
Sample Questions
Q1) Buying securities on margin is risky because margin securities are investments in companies that are not performing well.
A)True
B)False
Q2) A futures contract is an agreement to purchase a specified amount of a mutual fund at a given price on a set date in the future.
A)True
B)False
Q3) What is an advantage of issuing a bond with a sinking fund provision?
A) This provision offers greater security to an investor because funds to retire the bond issue are set aside each year into the sinking fund.
B) The bonds may be converted to a specified number of shares of common stock at the firm's convenience.
C) The firm has the right to call in the outstanding bonds at any time and thus "sink" the bond issue.
D) The firm can decide to redeem the fund at any time.
E) The firm may retire portions of the bond issue at different predetermined dates.
To view all questions and flashcards with answers, click on the resource link above.
21
Chapter 20: Financial Decisions and Risk Management
Available Study Resources on Quizplus for this Chatper
228 Verified Questions
228 Flashcards
Source URL: https://quizplus.com/quiz/75756
Sample Questions
Q1) Brenda is a top-level manager at Bricks 'n Bricks.To protect themselves against the loss of her talents and skills,the company should purchase
A) liability insurance.
B) credit insurance.
C) key person insurance.
D) business interruption insurance.
E) workers' compensation coverage.
Q2) Which type of insurance would protect a business firm when a fire in its manufacturing facility spreads and destroys a nearby home?
A) Health insurance
B) Life insurance
C) Property insurance
D) Liability insurance
E) Automobile insurance
Q3) Some unsecured loans are one-time-only arrangements,and may take the form of lines of credit,revolving credit agreements,or commercial paper.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
22