Reference no: EM13806911

1. Managers tend to have a short-term perspective (daily operations), leaders tend to have a long-term perspective (stratigic goals 2-5 years).
   True
   False
2. S.M.A.R.T. goals are Specific, Measurable, Attainable, Realistic, and Timely.
   True
   False
3. Which of these are the 4 P'S of the Marketing Mix?
   Participation, Privatization, Principles and Planning
   Promotion, Participation, Production and Pricing
   Product, Price, Promotion and Place
   Payment, Placement, Production and Planning
4. Which types of power are most effective?
   Coercive and Referent
   Expert and Referent
   Reward and Expert
   Legitimate and Reward
   Expert and Reward
5. A sub-group of people or firms that share characteristic(s) and have product needs in common is called a:
   market segment
   psychographic group
   customer base
   client profile
6. Break-even analysis determines the needed sales volume to be reached in order to cover all costs, and before any profits are realized.
   True
   False
7. Coercive is defined as an employee acts out of fear of repercussions if they do not comply.
   True
   False
8. Which letters of the SWOT are usually external?
   Opportunities and Threats
   Weaknesses and Threats
   Opportunities and Strengths
   Strengths and Threats
9. Profits peak at the _____ stage of the product life cycle model.
   advancing stage
   growth stage
   maturity stage
   exit stage
10. Maslow's Hierarchy of Needs specifies that this stage of the hierarchy reflects humans greatest need:
    self-esteem
    self-awareness
    safety needs
    self-actualization
11. Effective managers define __________ as the process of influencing others to achieve group or organizational goals.
    management
    leadership
    interpersonal influence
    supervision
12. Reward involves the legitimate authority someone has to control others and resources based on their title/position in the company
    True
    False
13. Each agent for the business can legally bind the firm as well as the other agents to contracts, even without the other agents' knowledge or consent. Each agent is taxed as an individual based on distributed share of profit from the business.
    LLC
    501-C3 Non-Profit Corporation
    C Corporation
    S Corporation
    Sole Proprietorship
    Partnership
14. Match the appropriate business form to the legal/tax implications. This is the least regulated form of business ownership. Control and liability lies with the proprietor.
    LLC
    S Corporation
    501-C3 Non-Profit Corporation
    C Corporation
    Partnership
    Sole Proprietorship
15.  __________ is defined as the management function concerned with assigning tasks, grouping tasks into departments, and allocation resources to departments.
    Management
    Planning
    Organizing
    Controlling
16. The most notable provision of this corporation is that it serves as a conduit for its net income, passing all of its profits or losses through to the individual shareholders, which means that its income is taxed only once at the individual tax rate.
    C Corporation
    S Corporation
    501-C3 Non-Profit Corporation
    LLC
    Partnership
    Sole Proprietorship
17. First-line managers are the only managers who do not supervise other managers.
    True
    False
18. First-line managers are responsible for setting objectives consistent with organizational goals and planning and implementing subunit strategies for achieving these objectives.
    True
    False
19. What does "Place" mean in the 4 P's of the marketing mix?
    Place refers to distribution, inventory and assortment
    Place refers to customer location.
    Place refers to the product or service "place" in the pricing structure.
    Place refers to the transportation used to convey the product or service.
20. __________ is defined as the management function concerned with monitoring employees' activities, keeping the organization on track toward its goals, and making corrections as needed.
    Management
    
    Planning
    
    Organizing
    
    Controlling