Principles of Management
Final Exam Questions
Course Introduction
Principles of Management introduces students to the fundamental concepts, theories, and practices that underpin the effective administration of organizations. The course covers the core functions of management, including planning, organizing, leading, and controlling, and explores key topics such as decision-making, organizational structure, human resource management, and strategic planning. Students will examine the roles and responsibilities of managers in diverse business environments and develop critical thinking and problem-solving skills applicable to real-world managerial challenges. Through case studies and practical examples, the course emphasizes the integration of management principles into everyday organizational operations.
Recommended Textbook
Essentials of Contemporary Business 1st Edition by Louis E. Boone
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17 Chapters
2453 Verified Questions
2453 Flashcards
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Chapter 1: The Changing Face of Business
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154 Verified Questions
154 Flashcards
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Sample Questions
Q1) The marketing era occurred before The Great Depression.
A)True
B)False Answer: False
Q2) The human resources of a firm refer to ________.
A)everyone over 18 years of age
B)everyone who works for the business
C)full-time employees
D)top management
Answer: B
Q3) The Nike swoosh is an example of a brand.
A)True
B)False Answer: True
Q4) Not-for-profit organizations are commonly exempt from federal,state,and local taxes.
A)True
B)False Answer: True
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Chapter 2: Business Ethics and Social Responsibility
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172 Verified Questions
172 Flashcards
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Sample Questions
Q1) Which of the following is not a factor in determining an individual's ethical development?
A)experiences
B)religion
C)culture
D)social audit
Answer: D
Q2) Loyalty and honesty often conflict with one another in the business world.
A)True
B)False
Answer: True
Q3) Many people rationalize unethical acts because they ________.
A)feel pressured on their jobs to meet performance goals
B)know they can get away with it
C)have no personal or moral values
D)are fundamentally unethical
Answer: A
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Page 4
Chapter 3: Economic Challenges Facing Contemporary Business
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184 Verified Questions
184 Flashcards
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Sample Questions
Q1) A demand curve will shift to the left if the ________.
A)number of buyers increases
B)future expectations become more optimistic
C)buyers' incomes decrease
D)prices of substitute goods increase
Answer: C
Q2) The purpose of a restrictive monetary policy is to:
A)stimulate spending
B)reduce the cost of borrowing
C)stimulate employment
D)curb rising prices and overexpansion
Answer: D
Q3) If the prices of complimentary goods decrease,the demand curve will shift to the right.
A)True
B)False
Answer: True
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Page 5
Chapter 4: Competing in World Markets
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147 Verified Questions
147 Flashcards
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Sample Questions
Q1) A country's trade balance is determined by comparing the total amount of its exports to its imports.
A)True
B)False
Q2) The United States has an international trade deficit in the sale and purchase of goods but a trade surplus in services.
A)True
B)False
Q3) Explain the differences between the World Bank and the International Monetary Fund.
Q4) A country that cannot maintain a monopoly from producing a certain good can still have an absolute advantage.
A)True
B)False
Q5) The _______________________ is bar far the world's largest importer
A)Russia
B)China
C)United States
D)Germany
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Chapter 5: Small Business and Forms of Business Ownership
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145 Verified Questions
145 Flashcards
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Sample Questions
Q1) When a government unit owns and operates an organization,the arrangement is known as ________.
A)private ownership
B)a cooperative
C)public ownership
D)employee ownership
Q2) Sole proprietorships are concentrated mainly in corporations.
A)True
B)False
Q3) Most states require at least ________ incorporators,or individuals who create the corporation.
A)two
B)five
C)ten
D)three
Q4) Why are small businesses especially important to women and minorities?
Q5) Non-farming small businesses such as insurance agencies and retail shops contribute more than half of the nation's GDP.
A)True
B)False
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Chapter 6: Starting Your Own Business
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) The desire to work fewer hours is one of the main drivers for those who choose to become entrepreneurs
A)True
B)False
Q2) Anna signs a contract with SUBWAY to own and run a branch of the company.Anna is a:
A)franchisor
B)Intrapreneur
C)Visionary
D)Franchisee
Q3) As a rule,entrepreneurs believe in their ability to succeed.
A)True
B)False
Q4) ________ are pioneers of innovations thatbenefit humanity.
A)Classic entrepreneurs
B)Change agents
C)Atypical entrepreneurs
D)Social entrepreneurs
Q5) List the three factors that have contributed to the expansion in entrepreneurship.
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Chapter 7: Management, Leadership, and the Internal Organization
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191 Verified Questions
191 Flashcards
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Sample Questions
Q1) The number of subordinates a manager supervises is referred to as the _____.
A)corporate culture
B)top management
C)line organization
D)strategic planning
E)departmentalization
F)Line organization
G)delegation
H)matrix
I)span of management
J)controlling
K)decentralization
L)empowerment
M)SWOT analysis
N)contingency planning
O)competitive differentiation
P)autocratic leaders
Q)human skills
R)mission statement
Q2) Provide examples of tools managers might use to reinforce corporate culture.
Page 9
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Chapter 8: Human Resource Management: From
Recruitment to Labor Relations
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138 Verified Questions
138 Flashcards
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Sample Questions
Q1) MBO is a systematic approach that allows ______________ to focus on attainable goals and to achieve the best results based on the resources of the _____________________.
A)Managers;organization
B)Employees;management team
C)Employees;organization
D)Employees;financial team
Q2) Explain the concept of human resource management and the role of human resource planning in an organization's competitive strategy.
Q3) Employers cannot legally reward workers with bonuses or prizes for employee referrals,even if they lead to new hires.
A)True
B)False
Q4) The two most common objectives of downsizing are to improve employee morale and to decrease costs.
A)True
B)False
Q5) What types of benefits are mandated by law?
Q6) Discuss the process and benefits of computer-based training.
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Chapter 9: Top Performance Through Empowerment,
Teamwork, and Communication
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134 Verified Questions
134 Flashcards
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Sample Questions
Q1) Compared to other techniques for empowering employees,information technology has minimal risks.
A)True
B)False
Q2) A team consists of a group of people with ________ skills and ________ are responsible and accountable for accomplishing team objectives.
A)complementary;all team members
B)complementary;team leaders
C)differing;all team members
D)differing;team leaders
Q3) When managed properly,the grapevine can be a reliable source of information.
A)True
B)False
Q4) Which of the following statements is correct regarding team conflict?
A)It should be avoided at all costs.
B)It often improves team performance.
C)It will be reduced if the team is diverse.
D)It rarely occurs in most teams.
Q5) Explain the four types of listening behaviors.
Q6) What are the advantages and drawbacks of virtual teams? Page 11
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Chapter 10: Production and Operations Management
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149 Verified Questions
149 Flashcards
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Sample Questions
Q1) ________ is the use of people and machinery to convert materials into finished goods or services.
A)Manufacturing
B)Production
C)Distribution
D)Marketing
Q2) Part of Vicky's job as a production supervisor is to instruct each department on what work to do and the time in which they have to complete their work assignments.This part of her job is known as ________.
A)routing
B)dispatching
C)scheduling
D)planning
Q3) Hospitals often use a customer-oriented layout.
A)True
B)False
Q4) Define continuous production processes and intermittent production processes,and provide an example of each.
Q5) Describe just-in-time (JIT)inventory systems.
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Chapter 11: Customer-Driven Marketing
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) A university offers alumni a special Visa card with the university's logo printed on the front.Each time the cardholder uses the card,the university receives a small percentage of the amount charged.This is an example of ________.
A)cobranding
B)an affinity program
C)a frequency marketing program
D)comarketing
Q2) Nike has implemented ______ so that its customers can design certain features of its athletic products to meet their specific needs and desires.
A)relationship production
B)standardization
C)organization marketing
D)mass customization
Q3) Personal factors influence the way buyers behave more than interpersonal factors.
A)True
B)False
Q4) Describe the sources of marketing research data.
Q5) Describe the consumer markets segmentations.
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Chapter 12: Product and Distribution Strategies
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167 Verified Questions
167 Flashcards
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Sample Questions
Q1) A brand that has been given legal protection is known as a ________.
A)patent
B)copyright
C)trademark
D)royalty
Q2) _______________refer(s)to the ultimate degree in brand loyalty,in which the consumer will accept no substitute for a preferred brand.
A)Marketing intermediary
B)Test marketing
C)Brand insistence
D)Product life cycle
E)Brand name
F)Wholesaler
G)Trademark
H)Product
I)Convenience products
J)Product line
K)Supply chain
L)Logistics
Q3) Describe the benefits of having intermediaries and provide an example.
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Chapter 13: Promotion and Pricing Strategies
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138 Verified Questions
138 Flashcards
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Sample Questions
Q1) Public relations refers to an organization's paid communications.
A)True
B)False
Q2) What are the components of the promotional mix? Outline the advantages of the components of the promotional mix.
Q3) Penetration pricing is often used when there are no close competitors and none are expected to enter the market for some time.
A)True
B)False
Q4) When a firm tries to differentiate its products,it often applies a concept known as
A)product valuation
B)personal selling
C)the marketing mix
D)positioning
Q5) Persuasive advertising is often used during a product's decline period in order to improve the competitive status of the product.
A)True
B)False
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Chapter 14: Using Technology to Manage Information
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Explain the difference between data and information.
Q2) An intranet links a company to its suppliers and customers.
A)True
B)False
Q3) All Wal-Mart stores have satellite dishes that link stores together with the company's headquarters.Wal-Mart is using a(n)________.
A)wide area network
B)enterprise resource system
C)expert system
D)local area network
Q4) Cloud computing allows users to access software and databases via an intranet.
A)True
B)False
Q5) Operational support systems are different from transaction processing systems.
A)True
B)False
Q6) An estimated two-thirds of American households own at least one personal computer.
A)True
B)False
Page 17
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Chapter 15: Understanding Accounting and Financial Statements
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134 Verified Questions
134 Flashcards
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Sample Questions
Q1) Which of the following current assets is NOT included when calculating the acid-test ratio?
A)inventory
B)marketable securities
C)cash
D)accounts receivable
Q2) Kate is the Executive Director of a local food bank and is assessing the financial situation of her not-for-profit organization.Kate uses a(n)________ to determine whether revenues from contributions and other sources will cover operating costs.
A)statement of cash flows
B)income statement
C)balance sheet
D)accrual accounting
Q3) Expenses that have been incurred (such as wages)but have yet to be paid,are reported on the balance sheet as ________.
A)accruals
B)accounts receivable
C)accounts payable
D)notes payable
Page 18
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Chapter 16: The Financial System
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158 Verified Questions
158 Flashcards
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Sample Questions
Q1) Nina's financial institution has an office next to where she works.Everyone who uses the financial institution's services either works for Nina's employer or is related to someone who does.Nina's financial institution is a ________.
A)state chartered bank
B)savings bank
C)commercial bank
D)credit union
Q2) Banks in other nations often respond to changes in the U.S.financial system by making similar changes in their own systems.
A)True
B)False
Q3) The price of a bond is affected by its interest rate.
A)True
B)False
Q4) All of the following are types of securities EXCEPT ________.
A)money market instruments
B)stock
C)bonds
D)cash
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Chapter 17: Financial Management
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90 Verified Questions
90 Flashcards
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Sample Questions
Q1) All short-term bank loans are secured,meaning that the borrower pledges specific assets as collateral.
A)True
B)False
Q2) The balance sheet hedge is often one of the most difficult activities for minimizing the challenges that come with exchange rates.
A)True
B)False
Q3) In most firms the controller is the chief accounting manager.
A)True
B)False
Q4) Explain the concept of risk-return trade-off.
Q5) A(n)________ is a document that specifies the funds a firm will need for a period of time,the timing of inflows and outflows,and the most appropriate sources and uses of funds.
A)asset management plan
B)budget
C)strategic plan
D)financial plan
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