HOMEWORK 1 - cmusr.files. · PDF file10.01.2016 · 3 D. Y2K transactions. 6. Autumn...

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Understanding Business (MN 109)

HOMEWORK 1

Answer Sheet

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I. Key Terms Definition

1. Business: ...............................................................................................................................................

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2. Dot-com company: ................................................................................................................................

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3. E-commerce: .........................................................................................................................................

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4. Entrepreneur: .........................................................................................................................................

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5. Goods: ...................................................................................................................................................

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6. Non-Profit Organization: ......................................................................................................................

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Name:……………………………………………………ID:…………………………….....Group:………...

Lecturer: ………………………………………………………………………………………………………

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7. Quality of life ..........................................................................................................................................

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8. Risk: ........................................................................................................................................................

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9. Services: ..................................................................................................................................................

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10. Standard of living: ...................................................................................................................................

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II. Multiple Choice 1. Public schools, charities and government agencies are not classified as businesses because they:

A. are not controlled by a board of directors.

B. do not seek to earn a profit

C. provide services rather than goods.

D. do not have any stockholders.

2. Last year, Megadeaux had total revenues of $54 million while its total costs and expenses were $47

million. Based on this information allows, Megadeaux:

A. earned a profit of $7 million.

B. earned a profit of $54 million

C. suffered a loss of $2 million.

D. suffered a loss of $47 million.

3. Povernia is a small and poor nation, but its current president has a genuine desire to create more

wealth for Povernia's citizens. The president has received recommendations from several advisors.

Some of the suggestions she is considering are listed below. Which of these policies is likely to

create the most wealth for Povernia?

A. Encourage rapid population growth to expand the labor supply.

B. Use foreign aid from other nations to produce or purchase more tools and machinery.

C. Establish a business environment that promotes and rewards entrepreneurship.

D. Establish barriers to trade to protect Povernia's businesses from foreign competition.

4. The decisions of entrepreneurs about where to locate new or existing businesses within the United

States suggest that:

A. entrepreneurs base their decisions more on intuition and emotion than on objective facts.

B. entrepreneurs respond to differences in tax rates and government regulations.

C. risk has no bearing on where businesses locate their operations.

D. entrepreneurs almost always start their businesses within 25 miles of their hometown.

5. Companies that sell goods to consumers over the Internet are engaging in:

A. B2C transactions.

B. ICU transactions

C. electronic exporting.

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D. Y2K transactions.

6. Autumn Winds, Inc., is a mail order firm that specializes in expensive and unusual gifts for all

occasions. Autumn Winds keeps a large file of information on all of its regular customers, including

names, addresses, the types of gifts they have ordered in the past, and the size and frequency of their

orders. The electronic file in which this information is stored in an example of a(n):

A. spreadsheet.

B. formatted text file

C. PERT file.

D. database.

7. Larger companies sometimes give employees partial ownership of the firm. The main purpose of this

strategy is to:

A. increase responsibility, performance, and compensation

B. eliminate unions

C. convince workers to go along with downsizing.

D. eliminate the possibility of lawsuits from workers

8. The statistical study of human population to learn its size, density, and characteristics is called:

A. sociographics.

B. microeconomics.

C. demography

D. xenography.

9. Dennis Morton manages the marketing department of a major retail store. Employees with several

different ethnic and cultural backgrounds work in his department. Dennis tries to take advantage of

the wealth of ideas and viewpoints his workers enjoy and to maximize their contributions. Dennis’s

approach and challenge is an example of:

A. diversity management

B. macro-socialization.

C. ethnocentrism.

D. cultural egalitarianism.

10. The concept of productivity can be reduced to this practical rule: The more you can produce (output)

in any period of time (input), the more _______ you are worth to your employer.

A. headaches

B. techno-commerce

C. money

D. UPC

III. True or False 11. The knowledge and skills learned in business courses are often relevant to students who work for

nonprofit organizations or volunteer groups.

A. True

B. False

12. Jason has started his own lawn care company. He knows there are risks involved in operating a

business, but is willing to invest his time, effort, and money because he is confident his new

company will earn a profit. Jason is an entrepreneur.

A. True

B. False

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13. Kelli Reece has joined with several other investors to form a new company that sells arts and crafts

supplies to consumers over the Internet. Kelli has invested in a B2B e-commerce company.

A. True

B. False

14. In the future, managers will spend less time directly supervising lower level workers than they did in

the past.

A. True

B. False

15. The declining number of workers employed in manufacturing in the United States is clear proof that

manufacturing firms have become less efficient, and thus are unable to compete against foreign

businesses.

A. True

B. False

IV. Comprehension Questions

1. Describe the relationship of businesses' profit to risk assumption and discuss how businesses and

nonprofit organizations add to the standard of living and quality of life for all?

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2. Explain the importance of entrepreneurship to the wealth of an economy?

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V. Critical Thinking Exercise

Consider your college or university:

a. Who are its competitors?...................................................................................................................

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b. How does the school “please” its customers? ...................................................................................

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c. How does the school “compete with speed”? ..................................................................................

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Don’t Cheat in any form, or your marks will be Zero.

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HOMEWORK 2

Answer Sheet

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1. Absolute advantage: ..........................................................................................................................

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2. Balance of payments: ......................................................................................................................

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3. Balance of trade: .............................................................................................................................

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4. Comparative advantage theory: ......................................................................................................

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5. Dumping: ........................................................................................................................................

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Name:……………………………………………………ID:…………………………….....Group:………...

Lecturer: ………………………………………………………………………………………………………

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6. Foreign direct investment: ..............................................................................................................

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7. Free trade ..........................................................................................................................................

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8. Joint venture ......................................................................................................................................

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9. Licensing ...........................................................................................................................................

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10. World Trade Organization (WTO)...................................................................................................

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II. Multiple Choice 1. _________________ occurs when a country has a monopoly on producing a product or is able to

produce it at a cost below that of all other countries.

A. Comparative advantage B. Absolute advantage C. Functional advantage

D. Bilateral advantage 2. Monica, a United States resident, was surprised to see that her home computer was actually made in

Japan. Monica did not know she had purchased a(n): A. imported item B. exported item

C. protected item. D. undifferentiated item

3. Last year, the nation of Homeland reported that it had a favorable balance of trade even though it imported $11 billion worth of goods. It is obvious that Homeland:

A. exported $11 billion worth of goods.

B. exported more than $11 billion worth of goods. C. overpriced the value of its exports.

D. exported less than $11 billion worth of goods. 4. Doing business globally requires an awareness of the cultural diversity among nations including

values, beliefs, ______, and ______.

A. rules, institutions B. environmental normality, strategic alliances

C. regulatory strictures, socioeconomic troughs D. psychosocial forces, affective dimensions

5. Firms such as McDonald's and 7-Eleven, have entered the global market by offering investors the

opportunity to set up: A. licensed trade offices.

B. international trade activities

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C. multinational subsidiaries D. franchises.

6. In the nation of ESPN-land, workers prefer to be directed and told specifically what to do by their managers. Employees in the U.S. prefer to participate in decision making in the workplace. This

_________________ difference between ESPN-land workers and U.S. employees represents a management challenge for firms trading in the global markets.

A. environmental

B. economic C. sociocultural

D. regulatory 7. Setting restrictive standards that make it difficult for foreign firms to sell products in a country is an

example of establishing:

A. nonmonetary tariffs. B. countertrade policies

C. nontariff barriers D. export embargo

8. Responding to pressure from political lobbyists representing the steel industry, the U.S. government

levies a tax on steel products imported from Asia. This is an example of a(n): A. protective tariff.

B. revenue tariff. C. nontariff barrier D. embargo

9. Eve’s Fruit, Inc. sells all of the apples from its orchards in the state of Washington to one buyer in Japan. Eve derives all of its profits from these international sales. Eve’s Fruit, Inc.:

A. is a clear example of a multinational corporation B. is not a multinational corporation. C. is contributing to the U.S. balance of trade deficit.

D. will benefit greatly from trading euros. 10. For firms interested in global markets, investments in China are considered to be:

A. too risky B. impossible given the current government. C. an emerging business opportunity.

D. of little profit potential. 11. Establishing a foreign subsidiary as a strategy for reaching foreign markets has advantages and

limitations. Its advantages include _____, and its limitations include___________. A. multinational propriety, expaternalism B. control over its technology and/or expertise, the possibility of expropriation

C. home rule, host roost D. profitability ratios, manufacturing capacity

III. True or False

12. The United States is the largest exporter in the world.

A. True B. False

13. When the value of a nation's exports exceeds its imports, an unfavorable balance of trade results for

that nation. A. True

B. False 14. When doing business in another country, U.S. businesspeople need not follow U.S. laws.

A. True

B. False 15. An import quota is a complete ban on the import or export of certain products.

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A. True B. False


1. Discuss the growing importance of the global market and the roles of comparative advantage and

absolute advantage in global trade?

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2. Explain the importance of importing and exporting, and give key terms used in global business?

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3. Illustrate the strategies used in reaching global markets and explain the role of multinational

corporations in global markets?

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4. Evaluate the forces that affect trading in global markets?

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1. The United States is the world’s largest exporter, yet the text indicates that the U.S. “in general has

never been very active in exporting.” How can you explain these seemingly contradictory

statements?

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HOMEWORK 3

Answer Sheet

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1. Cooperative: ..........................................................................................................................................

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2. Franchise: ..............................................................................................................................................

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3. Franchisee: ............................................................................................................................................

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4. Franchisor: ............................................................................................................................................

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5. General partner: .....................................................................................................................................

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6. Limited liability partnership (LLP) ........................................................................................................

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Name:……………………………………………………ID:…………………………….....Group:………...

Lecturer: ………………………………………………………………………………………………………

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7. Limited partner .......................................................................................................................................

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8. Master limited partnership ......................................................................................................................

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9. Sole Proprietorship ..................................................................................................................................

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10. Unlimited liability ...................................................................................................................................

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II. Multiple Choice 1. In the U.S., which form of business ownership represents about 20% of all businesses and accounts

for about 80% of all business receipts?

A. corporation

B. partnership

C. sole proprietorship

D. limited liability partnership

2. Compared to sole proprietorships, partnerships:

A. require less red tape to organize

B. must have a board of directors

C. pay income tax according to the partnership tax structure

D. enjoy more financial resources

3. Art and James decided to pool their talents and form a partnership. In forming their new partnership,

Art and James:

A. are required by law to obtain a permit from the state government.

B. would do well to consult an attorney and put their agreement in writing.

C. must pay both individual and partnership taxes on any income they earn.

D. must divide their profits and losses equally.

4. Juanitra recently invested $4000 that her aunt had left her in stock in the Micky Dee Development

Corporation. Juanitra has become a(n)_____________ of Micky Dee Corporation.

A. owner

B. manager

C. creditor

D. partner

5. The result of two firms combining to form one company is called a:

A. joint tenancy.

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B. tenancy in common.

C. merger.

D. marriage

6. A merger involving a major candy company and a steel producer would be an example of a:

A. vertical merger.

B. horizontal merger.

C. strategic merger.

D. conglomerate merger.

7. Regarding the relationship between the basic forms of business ownership and a franchise, a

franchise can not be formed as a ______________.

A. sole proprietorship

B. partnership

C. corporation

D. LLT

8. CarX is an organization that sells franchises to prospective businesspersons. In a franchise

arrangement, CarX would be the_____________, and the buyer of the franchise is the

_____________________.

A. franchisee; franchisor.

B. franchisor; franchisee.

C. co-signer; co-signee.

D. distributor; retailer.

9. Twenty-six years ago, several small apple growers in Illinois joined voluntarily to market their

apples in an attempt to get better prices. Over the years they expanded the organization to include

other services such as buying and selling farm supplies and equipment and providing financial and

technical services. The arrangement established by these apple growers is an example of a(n):

A. limited liability corporation.

B. joint venture

C. limited partnership

D. cooperative.

10. All of the following are advantages of franchises except: A. management and marketing assistance

B. financial advise and assistance

C. complete freedom from rules, regulations, and restrictions

D. historically lower failure rate than independent businesses

III. True or false

11. One of the strengths of sole proprietorships is its capacity to sustain rapid growth.

A. True

B. false

12. Limited partnerships must have at least one general partner and at least one limited partner.

A. True

B. False

13. To reduce the potential conflict between limited partners, it is wise to avoid having general partners

in the same firm.

A. True

B. False

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14. Investors in a corporation are expected to take an active role in managing their company.

A. True

B. False

15. Bizwang Computers, Inc., a major producer of personal computers, is considering a merger with

AMD, a leading producer of microprocessors and other computer chips. Bizwang believes such a

merger would give them a guaranteed source of needed components, and would enable them to have

better control over quality. If this merger occurs, it would be an example of a horizontal merger.

A. True

B. False


1. Compare the advantages and disadvantages of sole proprietorships?

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2. Describe the differences between general and limited partners, and compare the advantages and

disadvantages of partnerships?

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3. Compare the advantages and disadvantages of corporations, and summarize the differences between

C corporations, S corporations, and limited liability companies?

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1. There are many choices for business ownership. What option would you choose for these types of

businesses? Why?

a. Landscape/lawn care service

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b. Small manufacturer of a component part for automobiles

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c. Fast food restaurant

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d. Construction/Remodeling firm

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HOMEWORK 4

Answer Sheet

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15


1. Active Corps of Executives (ACE): ......................................................................................................

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2. Business Plan: .......................................................................................................................................

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3. Entrepreneurial team: ............................................................................................................................

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4. Entrepreneurship: ..................................................................................................................................

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5. Incubators: .............................................................................................................................................

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6. Market: ..................................................................................................................................................

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Name:……………………………………………………ID:…………………………….....Group:………...

Lecturer: ………………………………………………………………………………………………………

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7. Service Corps of Retried Executives (SCORE): ...................................................................................

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8. Small Business: .....................................................................................................................................

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9. Small Business Investment Companies (SBIC): ...................................................................................

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10. Venture capitalists: ................................................................................................................................

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II. Multiple Choice 1. All of the following are generally considered reasons that individuals are willing to assume the risks

of business ownership except: A. the desire to earn a profit.

B. self-satisfaction and independence.

C. the challenge of taking calculated risks.

D. desire to work fewer hours.

2. Entrepreneurial traits include all of the following except: A. self-direction

B. action-orientation

C. intolerance of uncertainty

D. high energy level

3. Major challenges associated with establishing a home-based business include all of the

following except: A. micromanaging

B. separating work and family tasks

C. abiding by city ordinances

D. managing business risk

4. A business plan ________________________.

A. is easy to research, write, present, and defend

B. is not much help to see bankers or other investors

C. is a two or three page management summary of a proposed business venture

D. forces entrepreneurs to be very specific about products or services they intend to offer

5. A college course in small business management may offer you an opportunity to do all of the

following except: A. meet with and learn from experienced entrepreneurs

B. try out ideas on a computer simulation before risking substantial resources

C. listen to a professor with a Ph.D. in Small Business Management, who will identify and solve

every problem every small business owner/operator will face

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D. do a research paper on a relevant topic

6. André would like to operate his own business. He is considering the possibility of buying an existing

business. If he looks more carefully into this option, he is likely to find that:

A. nearly every owner of small business is interested in selling.

B. it is almost always cheaper to start a new business than to buy an existing firm.

C. a fair way to determine the price to pay for an existing business is to determine what the

business owns, what it earns, and what makes it unique

D. any business that is up for sale is likely to be experiencing serious financial problems.

7. In order to prepare a good business plan, an entrepreneur should

A. focus on the big picture realizing that the details will take care of themselves.

B. describe all aspects of the business, including the type of product, the target market, the

nature of the competition, and the resources and qualifications of the owner.

C. be as vague as possible, since trying to be specific can limit creativity and flexibility.

D. focus on the nature of the business and its target market, but should avoid personal

information about the resources and qualifications of the owner since these are confidential

items that should not be put in writing.

8. Pete is an investor who looks for companies with good market potential. He offers to fund them for a

stake in the ownership of the business. Pete operates as a(n):

A. investment analyst.

B. venture capitalist.

C. corporate raider.

D. securities trader.

9. One of the main reasons why many American small businesses are not involved in world business is:

A. there is only a limited market for their products.

B. the government has been against active participation.

C. many potential exporters do not know how to get started.

D. American products are looked upon as being inferior.

10. Small businesses often have advantages in international markets. All of the following are advantages

many small businesses can offer except: A. a greater expertise in dealing with the paperwork needed to sell goods in international

markets.

B. the ability to begin shipping more quickly.

C. the opportunity for foreign buyers to deal with individuals rather than corporate bureaucracies.

D. the ability to provide more personal service.

III. True or False

11. Entrepreneurship is another name for management.

A. True

B. False

12. Maureen has earned a B.A. degree and is currently looking for a job. Her best job search strategy is

to look for work with a very large company in a large city.

A. True

B. False

13. One of the most important things to do when first starting a business is to talk to others who have

done it.

A. True

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B. False

14. If a business plan is to be effective it must be specific in analyzing the competition, the money

needed to start, and other details of operation.

A. True

B. False

15. The majority of small businesses in the United States are involved in exporting.

A. True

B. False


1. Explain why people are willing to take the risks of entrepreneurship, list the attributes of successful

entrepreneurs, describe the benefits of entrepreneurial teams and intrapreneurs, and explain the

growth of homebased and Web-based businesses?

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2. Discuss the importance of small business to the American economy and summarize the major causes

of small-business failure?

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3. Summarize ways to learn about how small businesses operate?

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1. Chad Lane is the owner of a small software business based in California. Because there is so much

competition in the U.S. he has begun to look for opportunities in global markets. What would you

tell him as his advisor?

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2. You have learned in earlier chapters that many parts of Eastern Europe and developing countries and

other parts of the world are trying to move to a free market system. How these developing countries

can encourages entrepreneurship, and why is it important that entrepreneurship be supported and

encouraged?

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HOMEWORK 5Answer Sheet

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15


1. Conceptual skills: ..................................................................................................................................

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2. Controlling: ...........................................................................................................................................

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3. Empowerment: ........................................................................................................................................

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4. Leading:...................................................................................................................................................

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5. Management: ...........................................................................................................................................

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6. Middle management: ...............................................................................................................................

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Name:……………………………………………………ID:…………………………….....Group:………...

Lecturer: ………………………………………………………………………………………………………

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7. Organizing: ..............................................................................................................................................

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8. Planning:..................................................................................................................................................

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9. Technical skills:.......................................................................................................................................

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10. Top management: ....................................................................................................................................

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II. Multiple Choice 1. As a manager for a major Midwest retailer, Maria Martinez sets organizational goals, develops

strategies to achieve those goals, and establishes standards to evaluate goal achievement. Maria is

performing ___________ tasks.

A. planning

B. organizing

C. leading

D. controlling

2. Autocratic leadership is likely to be effective when:

A. subordinates are highly trained professionals.

B. the organization faces an emergency situation.

C. workers enjoy expressing their opinions and having a say in what is done.

D. the manager is inexperienced.

3. When establishing criteria to measure the success of a business, managers should:

A. limit their attention to financial measures such as profit and return on investment since these

are the only objective and quantifiable measures available.

B. focus most of their attention on measures of employee performance, since without good

employees the firm will not be competitive.

C. focus primarily on financial measures, but pay some attention to nonfinancial concerns.

D. recognize that, while financial measures are important and should be considered, the purpose

of the firm is to satisfy all of its stakeholders.

4. As a manager for a major New York wholesaler, Victor Plezbert locates resources, assigns tasks, and

establishes procedures to achieve goals. Victor is performing __________ tasks.

A. planning

B. organizing

C. leading

D. controlling

3

5. As a manager for a major California computer manufacturer, Suzi Liu measures results against

corporate objectives, monitors performance relative to standards, rewards outstanding performance,

and takes corrective action, if necessary. Suzi is performing ___________ tasks.

A. planning

B. organizing

C. leading

D. Controlling

6. Which of the following activities would be a part of a manager’s leadership function?

A. Devising a new strategic plan to compete in an established market by introducing radically

lower prices.

B. Recruiting qualified workers to join the organization and assigning them to their proper

position.

C. Examining a financial report to see whether the firm's profits are improving and taking

corrective action if they are not.

D. Coaching, guiding, and motivating employees so that they understand their jobs and perform

them efficiently

7. Employees often work with managers to design a(n. ____________ which outlines the fundamental

purposes of the organization.

A. objective function

B. value statement

C. mission statement

D. corporate blue book

8. An academic Vice President at Sweetwater College contracted Bucky Reynes, a management

consultant, to do a __________, which would include researching the college's core competencies,

ability to serve underserved students, major competitors, and strategic direction

A. tactical chart

B. strategic diagram

C. PMI examination

D. SWOT analysis

9. At Sugar Ray Chemicals, department heads usually make decisions after meeting with employees

and seeking their ideas and suggestions. Department heads at Sugar Ray Chemicals make use of the

___________ style of leadership.

A. autocratic

B. diplomatic

C. democratic

D. laissez-faire

10. In order for standards to be useful in the controlling process, they must have all of the following

characteristicsexcept:

A. they must be specific.

B. they must be beyond the ability of average employees.

C. they must be measurable

D. they must be attainable

11. Professor Paradiso is planning to make an important presentation at a professional conference. He

knows that it's fashionable to construct a Web site, which he would access to make his presentation,

but he's concerned about the Internet connection at the conference. So, he constructs a Power Point

presentation as a backup, alternate, or ________________.

4

A. tactical plan

B. strategic plan

C. contingency plan

D. organizational plan

III. True or False 12. The acceleration of technological change has increased the number of mangers needed by most

businesses.

A. True

B. False

13. Matt, a manager with Mini Me Toy Company, has just participated in a meeting that looked at future

trends in the toy industry, and identified new challenges and opportunities for Mini Me. Matt's

participation in this meeting was part of the planning function of management.

A. True

B. False

14. Goals are broad, long-term accomplishments an organization wants to achieve.

A. True

B. False

15. Four basic management functions or activities are planning organizing, leading, and controlling.

A. True

B. false


1. . Explain how the changes that are occurring in the business environment are affecting the

management function?

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2. Describe the four functions of management?

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3. Relate the planning process and decision making to the accomplishment of company goals?

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4. Describe the organizing function of management?

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1. Eric has hired you to be the supervisor in the Music-stor plant where they are going to make the

tape/CD storage cases. Your workers are well educated and highly skilled. How do you intend to

lead and organize these employees? How will your leading (or directing) differ from Eric’s, the top

manager?

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1


HOMEWORK 6

Answer Sheet

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15


1. Cross-functional self-managed teams: ............................................................................................

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2. Flat organization structure: .............................................................................................................

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3. Informal organization: .....................................................................................................................

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4. Invert organization: .........................................................................................................................

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5. Line organization: ...........................................................................................................................

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Name:……………………………………………………ID:…………………………….....Group:………...

Lecturer: ………………………………………………………………………………………………………

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6. Matrix Organization: .......................................................................................................................

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7. Organizational culture: ......................................................................................................................

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8. Reengineering: ..................................................................................................................................

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9. Restructuring: ....................................................................................................................................

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10. Span of control: .................................................................................................................................

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II. Multiple Choice 1. A VP for UPS, Boris Sarnoff is a big fan of the organizational theorist, Max Weber. Boris

emphasizes the importance of ______________.

A. a pyramid-shaped organizational structure

B. transparency

C. Maxianism

D. a flat organizational hierarchy

2. All of the following factors would help determine a manager's span of control except: A. need for coordination

B. capabilities of the manager.

C. capabilities of the subordinates.

D. form of business ownership.

3. Johnson Studios divides its operations into specific business processes such as production, marketing,

accounting, and finance to allow these separate functions to develop maximum efficiencies for the

firm. Johnson utilizes _____________ departmentalization:

A. cost center

B. customer

C. functional

D. standardized.

4. Employees who perform functions that contribute directly to the primary goals of their organization

are classified as:

A. focused workers.

B. line personnel

C. managers

D. staff personnel.

3

5. Which of the following positions in a firm would be classified as a staff position?

A. an assembly line worker for a major auto manufacture

B. the vice president of marketing for a large corporation

C. a sales manager for a chain of clothing stores

D. a lawyer employed in the legal department of a manufacturing corporation

6. All of the following are advantages of a matrix organization structure except: A. It gives flexibility to managers in assigning people to projects.

B. It provides for more efficient use of organizational resources.

C. The project teams are not permanent.

D. It encourages interorganizational cooperation and teamwork.

7. Tyrone Rant is primary owner and president of a large manufacturing firm in central Wisconsin.

Delegating minimal decision-making authority to lower-level managers throughout the business, Ty

practices __________________.

A. decentralized authority

B. merchandising

C. centralized authority

D. disempowerism

8. A purchasing agent with a trendy clothing store in Manhattan, Dashika Miracle uses __________,

like the Internet, to buy clothing from suppliers around the world.

A. networking

B. virtual time

C. transparency

D. WorldView

9. A senior manager with a provider of rehabilitation care, Sheharyar Khan assists and supports

therapists, who are at the top of his firm’s organizational chart. Sheharyar works for

________________.

A. the Rehabilitation Association of America (RAA)

B. an inverted organization

C. a reengineered care provider (RCP)

D. an informal organization

10. An administrative assistant to the Dean of the Business Division at a community college in the

Midwest, Denise Kingma collects stories, traditions, and myths about the division and the college,

which the Dean shares with new faculty during their orientation in order to promote unity. Denise is

helping to maintain her department’s and college’s ________________________.

A. unity of command

B. Fayolism

C. equity

D. organizational culture

III. True or False

11. Gerald is a manager at Academy Manufacturing. He believes that it is very important for each

worker at Academy to have only one boss. Gerald's view is consistent with Fayol's unity of

command principle.

A. True

B. False

4

12. Span of control refers to the optimum number of subordinates a manager supervises or should

supervise

A. True

B. False

13. Yankee Corporation is a medium sized organization. It is organized with well-defined lines of

authority and responsibility, and every one reports to only one boss. However, the managers at

Yankee often complain that they have no advisors and assistants to help them, and that lines of

communication are too long. These characteristics suggest that Yankee employs a matrix

organization.

A. True

B. False

14. A recent trend in organization models has been a movement from employee-driven to manager-

driven organizations.

A. True

B. False

15. The widely shared values within an organization that provides the coherence and cooperation needed

to achieve common goals is known as unity of command.

A. True

B. False


1. Explain the organizational theories of Fayol and Weber?

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2. Explain the various issues involved in structuring organizations?

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3. Describe and differentiate the various organizational models?

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4. Discuss the concepts involved in interfirm cooperation and coordination?

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1. Think about the organizational design of the school you are attending, or an organization with

which you are familiar, like where you work. Can you identify the “hierarchy?” Identify how

many layers of management come between the front- line workers and the highest level of

management. Are there separate departments fro various functions (instruction, bookstore, and so

on)? Are there rules and regulations that seem to keep workers organized are meant to make the

organization run efficiently?

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1


HOMEWORK 7

Answer Sheet

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15


1. Competing in time: ...............................................................................................................................

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2. Enterprise resource planning(ERP): ......................................................................................................

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3. ISO 9000: ..............................................................................................................................................

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4. ISO 14000: .............................................................................................................................................

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5. Just-in-time:.............................................................................................................................................

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6. Materials requirement planning(MRP): ..................................................................................................

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Name:……………………………………………………ID:…………………………….....Group:………...

Lecturer: ………………………………………………………………………………………………………

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7. Operation management: ..........................................................................................................................

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8. Production management: .........................................................................................................................

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9. Purchasing: ..............................................................................................................................................

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10. Six sigma quality:....................................................................................................................................

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II. Multiple Choice 1. Inventory management, quality control, and production scheduling are included in

_________________, a specialized area management that converts or transforms resources into

goods and services.

A. production management

B. facility management

C. operations management

D. manufacturing management

2. Managing the Six Sigma program for a leading manufacturer of telecommunications equipment in

Broadview, Illinois, Ray Chalifoux focuses on detecting and preventing potential product defects in

the production process. Ray's focus is ____________________.

A. quality control

B. statistical planning

C. ISO 1600

D. Baldridgesque

3. A recent college graduate and new employee at a computer chip manufacturer in Silicon Valley,

California, Qin Leung overhears her supervisor talking about _________. Hesitant to ask about its

meaning, she looks it up online, discovering that it means value added by the creation of finished

goods and services: for example, the value added by taking silicon and making computer chips.

A. PERT

B. ERP

C. form utility

D. lean manufacturing

4. Recent trends in the service sector suggest that:

A. employment in the service sector is likely to decline over the next ten years.

B. services can only improve productivity by reducing the quality of the service they provide.

C. the service industry has never taken advantage of new technology to increase customer

satisfaction.

D. services are using computer networks to become increasingly interactive.

3

5. A world-famous rock star, Danny Dynamic just e-mailed an order for a special 12-string guitar to

Silvia Hoffer, the owner/operator of Silvia's Custom Guitars in Buffalo Grove, Illinois. Silvia will

use the _______________ process to customize Danny's guitar.

A. continuous

B. intermittent

C. JIT

D. REM

6. Managing inventory for an airline manufacturer in the Pacific Northwest, Joe Jet is obsessed with

minimizing cost of production by minimizing factory inventory, which requires excellent

coordination with his carefully selected suppliers regarding parts' delivery. Joe is implementing

______________.

A. ERP

B. JIT

C. MRP

D. CPR

7. In order to minimize inventory costs, firms that use the ________________ inventory control system

hold a bare minimum of parts and materials in storage.

A. ABC

B. FIFO

C. just-in-time

D. in-min-cost

8. Flexible manufacturing:

A. relies heavily on labor, since humans are more adaptable than machines.

B. uses machines designed to perform multiple tasks so they can be used to produce a variety of

products.

C. achieves its flexibility at the cost of much slower rates of production than mass production

techniques.

D. requires continuous production runs to become efficient.

9. The main objective of lean manufacturing is to:

A. keep labor costs as low as possible by expanding the use of other resources.

B. produce products that have fewer "bells and whistles" in order to simplify consumer choices.

C. produce goods using less of everything compared to mass production techniques

D. outsource most of the manufacturing tasks currently performed by the firm in order to focus

on final assembly.

10. Director of Construction for a manufacturer of nuclear submarines in Seattle, Washington, Dr. Sonya

Fearless (Ph.D. - MIT) uses _________ to insure that submarines are built and delivered on time, on

budget, and according to specifications.

A. PERT

B. IBM

C. Smithology

D. NASA

III. True or False 11. Accounting, finance, and management consulting are in the sector of the U.S. economy, which is

growing rapidly and creating many job opportunities for college graduates.

A. True

4

B. False

12. ISO 9000 refers to a set of international standards for environmental protection.

A. True

B. False

13. Pedro Martinez works as a customer service representative for Valdyne Enterprises. Over the past

several years, Pedro and his coworkers have greatly improved the level of satisfaction reported in

customer surveys. With the government's current methods of measuring productivity, this

improvement in customer satisfaction will show up as a gain in the productivity.

A. True

B. False

14. Screemers Audio, Inc. wants to install a computer application that enables it to manage all its

operations on the basis of a single, integrated set of corporate data, resulting in less staff, reduced

inventory, and better customer service. The version of materials requirement planning (MPR) it

should use is enterprise resource planning (ERP).

A. True

B. False

15. Beth Junker is a construction manager who is in the planning stages for a major new project. Beth

wants to estimate how long a new project will take to complete and identify the activities associated

with the project that have the greatest potential for delaying the project. The PERT method will help

Beth answer these questions.

A. True

B. False


1. Describe the evolution of production in the United States

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2. Define operations management.

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3. Distinguish between the various production processes and describe several of the production

techniques that have improved the productivity of U.S. companies, including computer-aided design

and manufacturing, flexible manufacturing, lean manufacturing, and mass customization.

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Please answer the following questions

1. How does the concept of facility layout help companies become more “customer focused” and more

competitive?

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2. Why has the term “Production Management” been changed to “operations management?” what are

some examples of operations management? .........................................................................................

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1


HOMEWORK 8

Answer Sheet

1 2 3 4 5 6 7 8 9 10 1 2 3 4 5


1. Extrinsic Reward: ........................................................................................................................................

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2. Goal-Setting Theory: ...................................................................................................................................

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3. Hawthorne Effect: .......................................................................................................................................

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4. Intrinsic Reward: .........................................................................................................................................

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5. Job Enlargement: .........................................................................................................................................

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Name:……………………………………………………ID:…………………………….....Group:………...

Lecturer: ………………………………………………………………………………………………………

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6. Job Rotation: ...............................................................................................................................................

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7. Management By Objectives(MBO): ...........................................................................................................

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8. Maslow’s Hierarchy: ...................................................................................................................................

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9. Needs: ..........................................................................................................................................................

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10. Motivators: ..................................................................................................................................................

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II. Multiple Choice 1. In the Hawthorne studies, workers were involved in the planning of the experiments. This caused

workers to:

A. seek to become managers.

B. demand additional pay.

C. believe that management respected their ideas, which motivated them.

D. have high levels of productivity, but show disrespect for the managers in their test area.

2. When Jeanne accepted a position with Riverway Corporation in St. Louis she felt nervous and

uncertain. She was new to the area and new to the company. However, soon after she took the job

she took advantage of an invitation to sign up for the company's softball team. She quickly made new

friends and, through her new friends, learned about the city. Apparently, her new job satisfies

Jeanne's ________ needs.

A. social

B. esteem

C. self-actualization

D. physiological

3. Milo Bota lives in an Eastern European nation wracked by political and social unrest. He currently

has a job and can afford a decent apartment and plenty of food. He is worried, however, that the job

may not last and that riots and political unrest will throw the country into turmoil. Milo's concerns

reflect the desire to satisfy:

A. physiological needs.

B. safety needs.

C. social needs.

D. esteem needs.

3

4. Theory ____ holds that the average person likes work, and has a relatively high degree of

imagination and creativity.

A. M

B. Beta

C. X

D. Y

5. According to William Ouchi, a management professor at UCLA, a distinguishing characteristic of

Type A management (the American management approach v. Japenese Type J management

approach) is emphasis on:

A. Lifetime employment

B. slow evaluation and promotion

C. elimination of unions

D. individual decision-making

6. Frederick Herzberg found that the factors which provided the highest level of motivation were those

associated with:

A. job content.

B. level of pay.

C. general working conditions.

D. the style of management.

7. Winston, the CEO of Coultonne Chemical, is puzzled. His company offers relatively high, has safe

working conditions, and has clear and consistent company policies. Yet his workers are not highly

motivated. Herzberg's research suggests that Coultonne Chemical is having difficulty motivating its

employees because it is focusing on:

A. synergistic factors.

B. motivating factors.

C. altruistic factors.

D. hygiene factors.

8. Until recently, ComPro Electronics produced personal computers on an assembly line with each

worker performing only one simple task. However, about a year ago the company began allowing

individual workers to assemble entire computers, test all of the components, and even install the

software that ComPro includes with each of its computers. ComPro's new production method is an

example of:

A. job enlargement.

B. roundabout production.

C. job rotation.

D. scientific management.

9. The fundamental purpose of MBO is to:

A. give top management more freedom in setting long-term goals and objectives.

B. implement a Theory X approach to management.

C. involve all members of the organization in goal setting and implementation.

D. reduce the amount of time managers must spend communicating with subordinates.

10. VP-Marketing for a manufacturer of educational products in Chicago, Illinois, Monk Eastman

believes that employees motivate themselves and that he can only create the proper environment for

self-motivation by setting goals with his managers, committing them to those goals, monitoring

results, and rewarding achievement. Monk practices _________.

A. XYZ

4

B. MBO

C. AES

D. VCR

III. True or False 11. Frederick Taylor's goal was to find the best methods of increasing the job satisfaction of workers.

A. True

B. False

12. Josh is a talented pianist, and has already won a number of awards. Still, he practices several hours

every day, trying to reach his highest potential. Josh is motivated by the desire to satisfy his

physiological needs.

A. True

B. False

13. Herzberg's research shows that the best way for firms to increase worker motivation is to pay

workers a decent wage or salary.

A. True

B. False

14. Mike works for a company that uses managment by objectives. It is clear to Mike that some

unexpected problems will make it very difficult to meet the original objectives he expected at the

beginning of the current evaluation period. Unfortunately for Mike, one drawback of the MBO

approach is that once goals are set, there is no opportunity to modify them.

A. True

B. False

15. In today's work environment, successful managers are those that maintain a consistent motivational

approach for everyone.

A. True

B. False


1. Explain Taylor’s scientific management?

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2. Describe the Hawthorne studies, and relate their significance to management?

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3. Identify the level of Maslow’s hierarchy of need, and related their importance to employee

motivation?

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4. Distinguish between motivation and hygiene factor identifies by Herzberg.

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Please answer the following questions

5. In developed countries, people seek to fill social, self-esteem, and self-actualization needs at work.

Give two actions that a companies or managers could take to fill each of these high level needs.

What would motivate you?

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1. Think about expectancy theory and how it works for you. What is something you really want? How

likely is it that you can reach the goal? Will the hard work be worth the effort? For example:

What do you need to do to accomplish the goal? Is it possible if you exert the effort?

What intrinsic and extrinsic benefits will you get from accomplishing the goal?

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HOMEORK 9Answer Sheet

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1. Compressed Workweek: .......................................................................................................................

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2. Job Analyses: ........................................................................................................................................

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3. Job Sharing: ...........................................................................................................................................

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4. Job Specifications Management: ..........................................................................................................

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5. Networking:.............................................................................................................................................

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6. Off-the-Job Training: ..............................................................................................................................

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Name:……………………………………………………ID:…………………………….....Group:………...

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7. On the Job Training:................................................................................................................................

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8. Recruitment Reverse: ..............................................................................................................................

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9. Selection ..................................................................................................................................................

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10. Training and Development:.....................................................................................................................

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II. Multiple Choice 1. Before leaving her job as a product development manager for a leading toy manufacturer in New

England, Rebecca Rose was asked to update her _________, including the job's objectives, type of

work she did, and other responsibilities.

A. job analysis

B. job description

C. job specifications

D. job inventory

2. When Mel Flynn was laid off from his position as an engineer at Bochheed Aeronautics, he searched

for a good job for several months before finally accepting a position as a maintenance worker at a

local community college. After being unemployed for several months he is happy to have work, but

he is also frustrated by the fact that he had to settle for a job that did not take full advantage of his

skills. Mel is a(n):

A. frictionally unemployed worker.

B. semi-employed worker.

C. underemployed worker.

D. quasi-employed worker.

3. A human resource inventory is designed to indicate whether:

A. all workers are paid a fair wage.

B. the firm has enough land and capital to use with its labor.

C. the firm's labor force is technically up to date and well trained.

D. the firm has established adequate training programs.

4. Nicole Cannoli works in the Human Resource department for a bank in Miami, Florida, where her

primary responsibility is to ___________ including researching job candidates' work record, school

record, and credit history.

A. conduct background investigations

B. legally snoop

C. do follow up interviews

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D. network

5. Working in the Training Department for a tire manufacturer in Toledo, Ohio, Bobbi Esposito

schedules formal and informal meetings to inform new employees about the company's history,

values, and rules of the road. Bobbi is involved in _______________________.

A. on-the-job training

B. apprenticeship training

C. employee orientation

D. vestibule training

6. Which of the following statements about contingent workers is most accurate?

A. More than 70 percent of contingent workers are employed in office-clerical work.

B. The biggest drawback of contingent workers is that they are more expensive to hire than

permanent workers.

C. U.S. labor laws require firms to offer contingent employees the same wages and benefits as

other employees performing similar work.

D. The most common reason firms give for hiring contingent workers is a varying need for

employees.

7. At Wycheman Industries, new workers are immediately assigned to jobs. They learn by doing the

actual work and by watching longer-term employees. Whycheman uses a policy of:

A. vertical assimilation.

B. on-the-job training.

C. job rotation.

D. vestibule training.

8. George Marin hates doing performance appraisals because he finds them hard to complete. In order

to make performance evaluations relatively easy, George should:

A. base his evaluation on a timed skills test.

B. use a democratic approach and let the employees evaluate each other.

C. set performance standards that are reasonable, understandable, and measurable, then clearly

communicate these standards to his subordinates.

D. use the principle of motion economy to break down each subordinate's job into a series of

steps that can be easily evaluated and compared to ideal performance standards.

9. Owner/operator of a modeling agency in Chicago, Illinois, Toni Anthony annually evaluates her

agents' performance, starting with ___________, a crucial first step, which she and her agents must

accept.

A. establishing performance standards

B. managing diversity

C. conducting exit interviews

D. taking corrective action

10. Benjamin Bennett is a Benefits Manager in the Human Resource department for a big manufacturer

of body-building equipment in Billings, Montana. Ben has developed a ________ benefits plan,

allowing employees to choose needs-based benefits up to a set dollar amount.

A. fringey

B. cafeteria-style

C. healthy

D. flexible

III. True or False

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11. Tony Strimm is a human resource manager with the Dunn and Winters Publishing Company. He has

just finished a study of what is done by employees who fill various job titles. The study Chris has

completed is known as a human resource inventory.

A. True

B. False

12. Ron Banks is the human resource manager for Mixley, Inc. Ron has a policy of using internal

sources to fill positions whenever possible. Ron is likely to be very interested in recommendations

made by Mixley's current employees.

A. True

B. False

13. Mona Chapin is learning to be a plumber by working alongside experienced plumbers. After one

more year of this type of training, Mona will be classified as a journeyman by her union. Mona is

involved in an apprenticeship program.

A. True

B. False

14. As a salesperson, Della's pay is based on a percentage of her total sales. This type of pay plan is

known as a piecework system.

A. True

B. False

15. Most U.S. companies now test both current and potential employees for drug use.

A. True

B. False


1. Explain the importance of human resource management, and describe current issues in managing

human resources?

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2. Summarize the five steps in human resource planning?

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3. . Describe methods that companies use to recruit new employees, and explain some of the issues that

make recruitment challenging?

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Please answer the two following Questions

1. Right now at Music-store, you have a salesperson who doesn’t seem to be performing adequately.

You know something must be done. This is the second real test of your management skills. What

will you do?

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2. How can a company ensure that their benefits programs meet the needs of a changing workforce?

Why is that important?

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HOMEWORK 10Answer Sheet

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1. Brand Name:

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2. Business-to-Business(B2B) Market

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3. Environmental Scanning:

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4. Marketing:

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5. Marketing Mix:

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Name:……………………………………………………ID:…………………………….....Group:………...

Lecturer: ………………………………………………………………………………………………………


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6. Marketing Research:

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7. Mass Marketing:

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8. One-to-One Marketing

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9. Promotion

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10. Stakeholder Marketing:

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II. Multiple Choice 1. Owner/operator of E-Tape, Inc., Bogdan Kozinski enjoyed $25,000 profit and 150% return on

investment last year, selling packaging tape on E-Bay to other E-Bay sellers. Bogdan is a/n

________________ marketer. A. astute

B. virtual C. niche D. psychosocial

2. A word, letter, or group of words or letters that differentiate the goods and services of a seller from those of competitors is identified in marketing as a(n):

A. brand name. B. product designation. C. product marker

D. trade name 3. Which of the following decisions would be considered part of a firm's marketing mix?

A. finding the most appropriate sources of funds to finance a firm's marketing activities. B. determining the best method for distributing a product.

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C. designing the appropriate production facility to efficiently produce the good. D. deciding which new employee would make the best sales representative for a firm.

4. The Full Wok Restaurants, Inc., has restaurants featuring authentic Chinese cuisine in seven states. The company is looking to open restaurants in additional states and also wants to expand and

improve its menu. Which of the following is an example of secondary data the marketers at the Full Wok might find useful?

A. Information published by the U.S. Bureau of the Census that identifies which regions of the

United States are experiencing the most rapid growth in Chinese-American population. B. A telephone survey by the marketing department of the Full Wok asking for opinions about

the quality of the food at the restaurants. C. A focus group of young adults who like Chinese food who are asked about their reactions to

new food dishes the restaurant may offer.

D. E-mail responses the chain receives to a series of customer satisfaction questions posted on its Web site.

5. Market __________ is the process of dividing the total market into several groups that have similar characteristics.

A. partitioning

B. segmentation C. differentiation

D. structuring 6. Nutriquest has developed several lines of food products. For example, it offers one line designed to

appeal to consumers who want meals that are quick to prepare. It has developed another line for

people looking for low in fat but high in vitamins and essential minerals. Nutriquest is trying to divide up its market using:

A. benefit segmentation. B. demographic segmentation. C. volume segmentation.

D. multi-tiered segmentation. 7. Jolie Joy is a salesperson at Camera First, a retail store that sells top quality, expensive cameras and

accessories. She knows that customers often begin to worry that they spent too much or made a poor choice after they purchase an expensive camera, so she always calls customers a day or two after making a big sale to thank and reassure them that they made a wise decision. Jolie's efforts can help

to deal with her customers': A. reverse satisfaction.

B. cognitive dissonance. C. negative utility. D. compatible assimilation.

8. All of the following are generally considered characteristics of a business-to-business (B2B) market v. a consumer market except:

A. larger purchases B. better trained buyers C. more formal purchasing procedures

D. less emphasis on personal selling 9. A research assistant for a boutique advertising agency in Midtown Manhattan, Clarissa Clearview

reads newspapers, magazines, and Web sites to gather demographic data for her agency's clients. Clarissa is doing ________ research and collecting ______ data.

A. secondary, secondary

B. primary, primary C. secondary, primary

D. primary, secondary 10. Andi Lowder is a marketing manager who believes that her firm should try to balance the needs of its

customers with those of the firms employees, stockholders, suppliers, dealers, and members of the

community. Andi's views are:

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A. inconsistent with current marketing views which emphasize that the customer's needs always come first.

B. an example of Theory Q management. C. based on the tenets of scientific marketing.

D. consistent with the concept of stakeholder marketing.

III. True or False 11. Motoriffic Auto Service Centers works hard to keep in touch with its customers. It has responded to

customer suggestions by making its waiting room more comfortable and pleasant. It also provides customers with complementary coffee, tea, and snacks. Motoriffic also provides customers with a written estimate before doing any work and offers a longer, more comprehensive guarantee than its

competitors. These actions suggest that Motoriffic is applying the concept of customer relationship management.

A. True B. False

12. Determining the best way to distribute a product is a function of the production manager and is not

directly related to the job of the marketer. A. True

B. False 13. Top management at Kitchen Koncepts has decided to replace their firm's traditional marketing

approach with an approach that emphasizes relationship marketing. Under this new approach,

Kitchen Koncepts' salespeople will be expected to devote a much larger share of their time to the search for new customers.

A. True B. False

14. Because the goal is to "find a need and fill it" in both consumer and B2B markets, the strategies used

by marketers in these two types of markets tend to be quite similar. A. True

B. False 15. Marketers know that about 80 percent of a company's sales are likely to come from only 20 percent

of its customers.

A. True B. False


1. Define marketing and explain how the marketing concept applies in both for-profit and nonprofit

organizations.

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2. List and describe the four Ps of marketing?

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3. Describe the marketing research process, and explain how marketers use environmental scanning to

learn about the changing marketing environment.

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Please answer the following Questions

1. How has technology enabled companies to go from mass marketing to a modern version of the marketing concept?

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2. We read in earlier chapter about the “revolutionary” concepts of organizational design such as cross-

functional, self managed teams, and such concepts as continuous improvement. What do these have to do with marketing?

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HOMEWORK 1 - cmusr.files. · PDF file10.01.2016 · 3 D. Y2K transactions. 6. Autumn...

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Transcript of HOMEWORK 1 - cmusr.files. · PDF file10.01.2016 · 3 D. Y2K transactions. 6. Autumn...