Quite often a company will start small and grow. During the growth and formulation of a company, the
__________ of one person will inspire others to work together as a group.
Purpose
Drive
Vision
mission
The essence of leadership is influence. Leaders can be which of the following?
Customers
Supervisors
Employees
Executives
Leaders realize that there is need to develop competent and committed employees. What are some of
the ways of accomplishing this?
Setting Goals
Training
Career development
Career management
What basic assumptions do transactional leaders rely upon?
Visionary leaders are known for __________. (Choose 2)
Working in unconventional ways
Breaking the rules
A typical task for a leader might include which of the following?
Business strategy
Setting the tone of the company
Which of the following is a way of increasing employee commitment to an organization?
Training
Succession planning
Career development
The rational model of analysis relies on a sensible and reasonable manner of achieving objectives
through which of the following?
External influences
Needs
Although there are many tools that a company can use to measure how it is doing, one analysis requires
the company to do an external and internal scan through a SWOT. What is analyzed with this model?
(Choose 2)
Weaknesses
Opportunities
What is included in Taylor’s rational model?
Parts of the organization fit together
Everyone works toward the same outcome
What is a component of Transformational leadership?
Frame a lofty goal into everyday business practices
The McKinsey 7S model looks at which of the following? (Choose 2)
Values
Style
Skills
When challenging and difficult goals are set, what usually occurs?
Employee performance is improved.
Employee performance is increased.
The Strategic Triangle Model focuses on public entities such as the government or non-profit businesses.
The model asks which of the following questions to determine value.
Is it administratively possible?
Is it politically and legally possible?
Is it publicly valuable?
Match the definition with the correct category in a SWOT analysis: strengths, weaknesses, opportunities,
or threats.
Threat
Opportunity
Obstacles that are faced by a company
The potential to improve or take advantage of something
Strength
Weakness
Advantages that a company may have or things that a company does better
than the competition
Areas that need to be improved
Which of the following different study areas or disciplines that help people to understand leadership in
business?
The study of sociology
The study of behavior
The study of psychology
Match the definition with the correct category: SWOT, McKinsey 7S, Strategic Triangle, or Rational
Model.
SWOT
Seeks to identify strengths, weaknesses, opportunities, and
threats
Strategic Triangle Seeks to understand public value
McKinsey 7S
Uses hard and soft elements to understand performance problems
Rational Model
Structure and strictly defined roles
What are some of the key advantages of incorporating an enterprise resource planning (ERP)?
31% improvements in employee commitment
33% improvements in customer service levels
Operations are the responsibility of production of goods and services for the purpose of what?
Creating HRIS systems
Operating productive systems
Creating systems for getting work done
Operations are a transformation process, meaning that there are both inputs and outputs. Which of the
following are inputs? (Choose 2)
Management
Capital
Companies that are valued higher than competition tend to have which of the following?
Higher dividends
Match the definition with the correct category: net present value (NPV), internal rate of return (IRR), or
modified IRR (MIRR).
MIRR
NPV
IRR
Represents the return on a project with positive cash flows reinvested at a rate of
return determined by the company
Represents the value of cash flows discounted at the cost of capital netted out,
including both inflows and outflows
Representing the rate of return on a project that would force the negative cash
flows to equal the positive cash flows
John Mullan is the CEO of the ABC Company. He is preparing reports for the annual shareholder
meeting to take place in 1 week. In his presentation, he has included the discounted cash flows
for capital that have been spent, the rate of return that created both positive and negative cash
flows, and the return on projects both positive and negative. What is John presenting?
Net present value
Internal asset valuations
Modified internal rate of return
John Mullen, the chief financial officer (CFO) of the ABC Company, is responsible for several aspects of
the company’s reporting practices in the areas of finance. As the CFO of the company, John should
consider which of the following elements of the finance process?
The financial market
Financial concepts
Investment criteria
John Mullen, the chief financial officer (CFO) of the ABC Company, is responsible for several aspects of
the company’s reporting practices in the areas of finance. John is currently determining the bond values
for the company. John should consider which of the following?
Present value formula applied to cash flow stream of bonds
Control (the measurement of how you thought you would do compared to how you actually did) makes
what assumption?
Products and services are correct.
An analysis was conducted.
A plan was implemented.
Match the definition with the correct category: product, price, promotion, or place.
The availability of the products or services through distributors or sources
Place
The process of making products and services known to the market through promotion
Promotion and advertising
Product
Goods and services provided by the company based on consumer demand
Price
Amount of money charged for the product or service that meets consumer
buying criteria without going too high
The macroenvironment is impacted by which of the following?
Culture
Society
Law
Politics
The action learning model can be used for which of the following?
Reflection
Planning
Which of the following statements would be applicable to the discovery phase of appreciative inquiry?
Employees were empowered.
The company acknowledged employees’ hard work.
Creativity was encouraged.
In the Simplex process, fact finding entails which of the following?
Asking questions about the problem from those closest to the problem
Brainstorming
Soliciting input regarding the problem from employees that have experienced it
In the Simplex process, idea finding includes which of the following?
Idea generation
Sharing
Input
How is the straw man concept used?
To dissect potential solutions
To solve problems
To brainstorm ideas
Which of the following statements would be applicable to the dream phase of appreciative inquiry?
I would like my job to be fun.
I would like to see the company grow.
What are the key ideas that are associated with the time value of money (TVM)?
Understanding that money paid out in the future is less expensive than money paid out today
Decisions made today will impact the future
Understanding how money today will be worth more tomorrow
Why does action learning work in some corporate environments?
It allows learning from others.
It encourages upward expressions of doubt.
It requires communication.
The Simplex process includes which of the following?
Problem finding
Problem definition
Which of the following statements apply to the define phase of appreciative inquiry?
Envisioning the future
Planning for the future
Seeking a future desired state
Vision of the future
Business markets consist of individuals and organizations that buy goods for what purposes?
Redistribution
Production
Who do financial markets bring together?
Savers or suppliers
Households
Investors or demanders of capital
Corporations, government, and individuals
Not all market planning is done in one department. Other stakeholders that may be involved in the
process include which of the following?
Competition
External agencies
Suppliers
Customers
One model used by organizations for financial management is the dividend discount model (DDM). What
are the underlying assumptions of DDM?
There will be a constant dividend growth rate
Operations are the responsibility of production of goods and services for the purpose of what?
Creating systems for getting work done
All organizations’ (manufacturing and service) operations acquire what?
Inputs, including materials
What is an example of product placement?
The availability of a product through a store
A display in the front of a grocery store
Easy access
Distributors
Match the definition with the correct category: enterprise resource planning (ERP), value chain, project
management, or operations management.
Project
Management
Operations
Management
Value Chain
ERP
The application of knowledge, skills, tools, and techniques to project
activities to meet the project requirements.
The production of goods and the delivery of services. All organizations
(manufacturing and service organizations) acquire inputs (such as people,
materials, and equipment) and combine them through a transformation
process to provide outputs (goods and services to customers).
A series of activities extending from supplier to customer.
Software packages that assist in managing the resources of an entire
organization or enterprise by allowing companies to access the schedules
of their downstream suppliers and customers and schedule their own
operation.
What is the purpose of enterprise resource planning (ERP) systems software packages?
Use of a common database
Fully integrated
Which of the following is an example of understanding the environment?
Most homes have at least one computer.
Large groups of immigrants are moving into the country.
Some consumers want the newest products.
A communication plan determines how to communicate to each of the stakeholders in the project. Who
are some of the stakeholders?
Product sponsors
Team members
Leaders
According to the cognitive model of analysis, what are some examples of environmental factors that may
influence performance? (Choose 2)
Too much caffeine
Interpersonal conflict
A stressful environment
Lack of proper rest
The Adaptive Control of Thought-Rational (ACT-R) is used to understand the factors that make up human
cognition. These factors include which of the following?
Stress
Infrastructure
Essential components to operations management include which of the following?
Activities along a value chain extending from supplier to customer
Outputs of greater value than the sum of the inputs
Value-adding activities
What are some of the interrelated parts to a supply chain?
Resources
Processes
An opportunity would include which of the following?
Growth into a new market
Employee input
The Strategic Triangle Model can be used in what sectors?
Non-profits
Government
The cognitive model of analysis aligns with the rational model but also incorporates which of the
following learning areas? (Choose 2)
Technology
Psychology
Education
An example of a company strength would include which of the following?
Having the best quality
Faster production capabilities
More of today’s companies are incorporating project management into their strategies. What is included
in project management according to the product management body of knowledge?
Planning
Phase management
Controlling
Team management is an important element of project management that requires careful planning. What
does successful team management ensure?
The right people have been selected.
The correct skills needed have been identified.
Which of the following are areas that are proposed in the Strategic Triangle Model graphic? (Choose 2)
Resources
Authorizing
Value
Supply chain management includes which of the following?
Distribution
Customer service
Supply and demand management
Inventory control
Which approach defines a leadership style? (Choose 2)
Team
Charismatic
Visionary
Facilities, functions, and activities are involved in producing and delivering a product or service, from
suppliers (and their suppliers) to customers (and their customers). What else is included in supply chain
management?
Product scheduling
Planning and managing supply and demand
What is a characteristic of Team leadership? (Choose 2)
Less distinction between leader and their followers
Leaders work among employees
What basic assumption do Transactional leaders rely upon?
People will act to avoid penalties
What is a drawback of a team leadership style? (Choose 2)
Leaders can lose sight of the “big” picture
More difficulty in managing others’ impression of the leader
What is a characteristic of a follower of a Charismatic leader?
The leader’s vision is secondary to the perception of the leader himself
Perceptions of the leader himself or herself is most important
Which is a distinctive characteristic of a Visionary leader? (Choose 2)
Ability to motivate others
Ability to engage others
Ability to inspire creativity
A transactional leadership style is often found in __________ positions. (Choose 2)
Sales
Commission based
When is Transformational leadership typically used? (Choose 2)
When an organization is undergoing a paradigm shift
When an organization is experiencing a major change in perspective
When an organization is moving to an entirely new level of development
When an organization is moving to a new stage of development
Which is a quality found in Charismatic leaders?
Deep-rooted vision
Self-confidence
Unshakable determination
How can team leaders more easily manage the impressions of others?
When they can limit their interaction with team members
How can transformational leaders manage others’ impressions of them? (Choose 2)
One on one interaction with employees
Use personal stories and anecdotes
What is needed to be an effective team leader?
Encourage creativity
A leader who can successfully manage conflict will do which of the following?
Enforce the final resolution of a conflict
Create a contract between the opposing policies
In the situational leadership model, coaching leaders will do which of the following?
Work with employees to reach preestablished goals
May not direct all aspects of the employee work
Set goals for employees
When a leader acts as an advocate, what will he or she do?
Offer comfort when someone fails
Understand how important others are in the workplace
Support other employees
John Cockran has owned and operated a company for the past 20 years. The company started out small
and has grown to a multi-million-dollar industry. When John was asked what he feels are the reasons for
the success of his company, he responded, “I have always had an entrepreneurial view of my company. I
ask questions all of the time, support the success of each of the employees, and believe that when there
is adversity, we can overcome it.” Which of the following traits support John’s statement? (Choose 2)
Initiative
Inquiry
Advocacy
In the situational leadership model, delegating leaders will do which of the following?
Give employees full autonomy to do their jobs
Recognize that an employee is self-confident and committed
Set goals and allow the employee to meet those goals
Situational leaders change their leadership style based on the maturity level of an employee. Jessica
believes that a situational leadership style is the logical way to lead her employees. To accomplish this,
Jessica would use which of the following styles? (Choose 2)
Directive
Coaching
Delegate
Supporting
When a leader critiques, he or she will do which of the following?
Look at others
Look at performance
Look at abilities
Which of the following leadership styles are used in the situational leadership model? (Choose 2)
Delegating
Coaching
For a leader to be good at conflict resolution, he or she must do which of the following?
Use accurate information to make a decision
Enforce whatever resolution is determined
In the process of conflict resolution, a leader must do which of the following?
Remind the parties of their agreement and contract
Mediate that problem in a fair way
What will leaders who use inquiry to lead do?
Question everything
Look at all the information to make the right choice
Have an entrepreneurial mind-set
In the situational leadership model, what will a directive leader do?
Tell an employee when to do something
Which of the following traits are associated with Blake and Mouton’s list of traits? (Choose 2)
Initiative
Advocate
Inquiry
Jessica Sanders is a regional manager for a large call center. She has only been in a leadership position for
a short amount of time and is realizing that she may need help in managing her employees. She sets up
an appointment with her mentor, John, and asks him for his advice on managing employees. He advises
that she needs to look at both sides of the problem, letting each employee present his or her side of a
problem. He also tells Jessica that she needs to be aware of trends that are changing the industry. He
advises Jessica to understand the consequences of her strategic decisions. His final piece of advice is that
she not be afraid to question everything. Based on John’s advice to Jessica, what are the traits he
suggesting that she should work on to improve her leadership and management skills? (Choose 2)
Initiative
Decision making
Conflict resolution
What is the foundation for goal setting?
Specifying goals
Assigning goals
Why is goal feedback important to the process?
Adjustments may be necessary.
A challenging goal may be difficult, and the employee may need help.
It allows the employee and the manager to measure the goal.
When an employee accepts a challenge or difficult goal, he or she may experience which of the
following?
Maximum performance
Increased self-confidence
Increased motivation
Increased self-efficacy
A challenging goal could do which of the following?
Increase employee skills
Create a feeling of accomplishment
Drive an employee to work harder
The focus of a goal-setting theory such as management by objectives includes which of the following?
Measurability
Achievability
Specificity
When management by objectives is incorporated into an organization correctly, what will typically
happen with employees?
They begin to trust management
They agree on the goals they must attain
The ABC Corporation has undergone several changes in the past year. One of the biggest changes is that
the company has reduced layers of management and has become more flattened and decentralized.
Department managers are also incorporating new processes such as goal setting. Crystal Smith, the
manager of one of these departments, is working with several employees by incorporating this method.
She is a little apprehensive because prior to this, the company was very structured and managers
directed employees. Crystal should consider which of the following as she begins the goal-setting
process?
Work with each of the employees to create goals that the employee is committed to meeting
Schedule times to meet with the employees to measure progress and make adjustments, if needed
Which of the following best defines goal commitment?
The employee should agree with the goal.
The employee should help determine the goal.
The goal should be understood.
The goal should be clear.
Match the definition with the correct category: clarity, challenge, commitment, or feedback.
Goal Feedback
Goal Challenge
Goal Commitment
Goal Clarity
A period in which the goals may be adjusted or discussed
A high level of difficulty yet attainable
Buy-in and agreement from an employee on the goal
A goal must be measurable and unambiguous
Which of the following is a goal that incorporates clarity?
Given a timeline
Precise
Definitive
Clear
The following are steps of a typical goal-setting process. Put them in the correct order.
Create clear goals
Create challenging goals that are complex yet attainable
Solicit employee commitment
Provide feedback
If goals are too difficult or unattainable, what could be the result?
Unmet goals
Locke and Latham suggest that there are five principles that should be considered when setting goals.
These principles include which of the following? (Choose 2)
Challenge
Commitment
Complexity
Clarity
For management by objectives to work correctly, managers should do which of the following?
Set goals jointly with employees
Set challenging yet attainable goals
Jessica Smith is managing a department of 18 employees. She has noticed an increasing lack of
commitment from the employees in her department and wants to make some changes. She wonders
what steps she can take to increase both job satisfaction and commitment in her department. A fellow
manager, Jerry, runs a different department with the same number of employees. She cannot help but
notice that Jerry’s employees seem happy and committed. She decides to seek advice from Jerry on how
he manages such an upbeat department. Jerry tells Jessica that his employees are all about learning new
things and developing their own skills. What is an action that Jessica may want to take?
Mentoring
Self-management training
Management training
Leaders and managers are essential to a successful business. Regardless of __________, leaders are
positioned throughout a company to meet the company vision and mission.
type of business
size
Which of the following are leadership strategies to develop employees?
Career counseling
Self-management training
Mentoring
One way that a leader can help develop good employees is through career self-management training,
where the leader encourages employees to increase their own skill sets. How does this process help the
company?
Helps the company to understand employee strengths
Provides the employee new opportunities
Jerry works for a very large organization that has several thousand employees. He has been slowly
moving up the corporate ladder and currently manages a small department with 18 employees. He has a
desire to move even further up the ladder for his company and has taken several steps to improve his
chances. He is currently finishing up his master’s degree in business with a minor in HR. He already has a
master’s degree in information technology (IT). The company is known for succession planning. Jerry
could be selected for one of the executive leadership positions within the company in the future. This
position could include which of the following?
Chief human resources officer
Chief information officer
The Star Team Leadership Model (STLM) can help a leader see what areas need to be improved upon in
an organization. Areas that a leader looks at when using this model include which of the following?
Strengths
Existing strengths
Integration
Which of the following are typically included in the subsidiary units of a larger organization?
Regions
Subsidiaries
C-suite officers typically include which of the following?
CEO
COO
CHRO
The balanced scorecard (BSC) has become a popular method of analyzing overall organizational
performance. Which of the following are areas of a BSC?
Internal processes
Learning and growth
Financial
There are several steps in the human performance technology (HPT) process, including which of the
following?
An analysis of employees’ abilities and skills
Identification of key issues
A review of the company mission and vision
A performance improvement plan (PIP) involves which of the following components?
Follow up
Documentation of performance issues
Conclusion
Which of the following are part of the storming stage of Tuckman’s team development model?
Conflict may occur.
Trust is established.
Members may compete for roles.
Which of the following happens in the performing stage of Tuckman’s team development model?
Cohesion is high.
Members set new goals.
Work is being accomplished.
Goals are met.
What are the types of changes that a company may pursue after evaluating individuals through the
human performance technology (HPT)?
Training
Reward
Feedback
Development
According to the Society for Performance Improvement (SPI), human performance technology is used for
what purpose?
Implementing solutions
Creating stakeholder partnerships
Identifying needs
Match the definition with the correct category: human performance technology (HPT), performance
improvement plan (PIP), or balanced scorecard (BCS).
BSC A means for measuring performance in the workplace, including financial, internal
business processes, learning and growth, and the customer
HPT Used to understand the accomplishment, behavior, and competence of employees
Involves working with employees to work through their weak areas and improve
PIP performance in the workplace
Human performance technology has been used in organizations for the past 35 years and focuses on
what?
Systematic views
Outcomes
Results
Which of the following is included in the forming stage of Tuckman’s team development model?
Team members are introduced
Team members get to know their team members
A performance improvement plan (PIP) involves helping employees to work through their weak areas
and improve performance in the workplace. What are the elements of a PIP?
Review of the plan
Action planning
Documenting performance issues
Companies are finding that by using teams rather than individuals to solve problems, they see better
performance and output. What are some of the steps in developing a cohesive team? (Choose 2)
Performing
Norming
Forming
Storming
Put the following events in Tuckman’s team development model in order.
1.
2.
3.
4.
5.
Forming: teams are introduced
Storming: conflict and competition for roles
Norming: trust is established and new goals are set
Performing: goals are being met and work is being accomplished
Adjourning: team may disband or move on to other projects
The following are steps used in appreciative inquiry. Put the steps in the correct order.
6. Define
7. Discover
8. Dream
9. Design
10. Destiny
Appreciative inquiry uses which of the following stages to identify and reach goals in an organization?
(Choose 2)
Destiny
Design
In the Simplex process, which of the following actions would be most applicable to problem finding?
Identifying a current problem the company is experiencing
Which of the following is an example of product promotion?
An advertisement
A radio announcement
An e-mail announcement
An Internet banner
What are some of the major forces in a macroenvironment? (Choose 2)
Natural
Demographics
Economics
Technological
A market analysis is done for a company to understand which of the following?
Its products
Its services
Its current situation
Its current position
Control (the measurement of how you thought you would do compared to how you actually did) makes
what assumption?
An analysis was conducted.
A microenvironment would include which of the following?
Departments
Anyone involved in the planning process
Which of the following is an example of product promotion?
An Internet banner
An e-mail announcement
What are the different variables that have an impact on today’s business buyer? (Choose 2)
More risk adverse
Increased technical knowledge
Advanced price orientation
More educated
The foundation of marketing includes which of the following? (Choose 2)
Price
Product
Promotion
Place
Match the definition with the correct category: environment, microenvironment, or
macroenvironment.
Forces that are outside the company’s control but nonetheless affect
Macroenvironment its ability to sell and promote its products and services
All organizations and individuals within and related to the company
Microenvironment that develop and implement a marketing plan for various goods,
services, and ideas
Environment
Demographic factors both internal and external
The macroenvironment may include which of the following areas that are out of a company’s control?
The economy
Legislation
New technology
Globalization
What is included in net present value (NPV)?
Inflows
Outflows
Past events have created a need for ethical reporting in publicly held companies. As a result, a 2002
Senate investigation found which of the following primary oversight failures that prompted the creation
of the Sarbanes‒Oxley Act (SOX)? (Choose 2)
Fiduciary failure
Excessive compensation
High risk accounting
Inappropriate conflicts of interest
What determines market value (or price) of any given stock?
Risk
Risk related to cash received
Cash
Net cash received
What does the process of valuing bonds involve?
Using the present value formula
The principal payment is discounted at the market interest rate
The income (interest payments) is discounted at the market interest rate.
Corporate finance requires which of the following?
Knowledge of financial terms
Knowledge of the cost of capital
Match the definition with the correct category: time value of money (TVM), dividend discount model
(DDM), or net present value (NPV).
A method that represents the value of cash flows discounted at the cost of capital
NPV netted out, including both inflows and outflows
Based on the concept of a firm that pays a dividend, has an assumed constant
dividend growth rate, and requires a rate of return on its stock based on the risk of
DDM the stock
Understanding that money received today is worth more than money received
TVM tomorrow
Financial decisions are an everyday part of business and may include which of the following?
Where a company should invest its money
What suppliers a company should use
What products the company should produce
How can a company develop good team work?
Share responsibility
What are the economic activities of a country governed by? (Choose 2)
Political risk
Education
What occurs when you license a product internationally?
You give use of intellectual property rights
How can companies experience growth globally? (Choose 2)
Joint ventures
Licensing
Small businesses that develop a ________ product or market have more overall success.
Broad
What are the key points for business success?
Market strategies
How does e-commerce benefit small business?
Ease of selling services
Match the definition to the correct category.
Goals
Time
Tasks
Resources
Create something that enhances your business
A set beginning and end
Follow a set of organized tasks
People, money, and time set aside
What is a necessary skill for a project manager?
Approachable
Having business acumen
Assertiveness
Put the progression of the resource management plan in order.
1. Reduce developing poor resource plans
2. Provide a clearer understanding of who does what
3. Help in identifying your available talent
4. Reduce conflicts in segmenting your resources
5. Makes balancing staff over the project more efficient
What were supposed to be the goals of the International Trade Organization?
Assisting economic development and reconstruction
Regulating restrictive business practices
Promoting the growth of trade by eliminating or reducing tariffs
Settling disputes among nations regarding harmful trade policies
What does the International Chamber of Commerce push for?
Developing new trade policies
Strong market economy
International trade
Customs and border protection
Domestic investment
Where are rules found in WTO agreements?
General Agreement on Tariffs and Trade
Agreement on Trade-Related Aspects of Intellectual Property Rights
General Agreement on Trade in Services
What does location expansion do for a company?
Develops new markets
Create more of a local presence
How can companies expand? (Choose 2)
Organic growth
Acquisition of competitors
Through external growth
Which of the following are part of four distinctions of a project? (Choose 2)
Plan
Time
What functions does the project manager have in human resources?
Negotiating contracts
Match the description to the correct category.
Assertiveness
Emotional intelligence
Project management basics
Business acumen
Explain needs you have and do it in a professional way
Expresses how you can work with others at different levels
Find a mentor who can direct you
Put yourself into areas of decisive action
How can a company develop good team work?
Share responsibility
Start with individual assignments
What basic skills does a project manager need?
Communication
Analytical thinking
Put the natural progression for effectively working with resources in order.
1.
2.
3.
4.
5.
Shared vision to achieve the goal of the project
Eliminate multitasking for employees
Identify constraints that affect the project
Manage each phase of the project
Conduct a statistical analysis
What are the benefits of a resource management plan? (Choose 2)
Cost reduction
Improve the final project
Reduce conflicts
Increase revenues
Put the steps to the project management process in order.
1. Initiating
2. Planning
3. Directing
4. Closing
What are the goals of resource optimizing? (Choose 2)
Improve time
Improve performance
Project feasibility
Which of the following are the steps to project management? (Choose 2)
Planning
Initiating
Directing
Closing
Match the definition to the correct skill category.
Leadership
Communication
Analytical thinking
Time management
Interpersonal skills
Need to motivate and resolve problems
Need to listen, speak, and write
Understand overall visions and goals
Prioritize work of others and their own work
Ability to interact with people at different levels
Why does the company need to address individual assignments?
Make sure the individuals have skills
Why is motivation important for a team environment?
Keeps focus on the core of the project
What are the added benefits of interns for increasing productivity?
Readiness
What qualities do interns have?
A fresh approach
An innocent approach
Different thought processes to resolve problems
What qualifications help an intern fit into a company?
Displaying energy
Showing determination
Interns are a good way to push your regular employees to become more _______
Productive
How can interns help the company boost productivity?
Create opportunity for employees to use their expertise
Provide additional hands
When companies use an intern program, it helps them to see how well that individual fits into the
organization’s ________.
Culture
How do seasonal businesses benefit from interns?
Labor costs remain low
Production increases
What are the benefits of interns?
They bring lower labor costs
Gaining hands-on knowledge
Interns help show if they fit the company
How do interns bring labor costs down?
Interns are inexpensive help
No unemployment payments
What can an intern gain from an internship?
Developing morale
Being able to display classroom knowledge
Developing work qualifications
What essential points do interns bring to the labor force?
Looking to impress
Wanting to be offered the job
Using interns is a good way to reduce an organization’s _______.
Labor costs.
Internships are a great way to build an intern’s ______.
Morale
How do interns benefit a company?
They increase productivity
What does expansion do for a company?
Allows you to use expertise
Allows you to expand your markets
What are the benefits of location expansion?
Broader audience for your product
Increase profits
Why do companies acquire their competitors?
Generate more sales
Increase profits
To grow business
What are the benefits of acquiring your competitors? (Choose 2)
More tools to use
Reduce cost of raw materials
Organic growth accomplishes what for a company?
Generation of new sales
What does organic growth provide for the company?
Better control of your growth
What are the benefits of expanding into a related market?
Develop a new market for your product
Diversify your customer base
Put the natural progression for organic growth in the correct order.
1.
2.
3.
4.
5.
Existing products or existing customers
Existing products or new customers
New products
New industries
New business modeL
How do companies have success when expanding into related markets?
Have the resources for expansion
Match the definition to the correct category.
Acquiring competitors
Expand into related markets
Location expansion
Organic growth
Expand by taking over someone’s business
Expand by moving into similar fields
Expand locally or globally
Expand internally
Match the definition to the correct category.
Existing products or new customers
New products
Existing products or existing
customers
New industries
New business model
Use existing products to entice new customers
Introduce a new product to the customer
Work with existing products and customers to expand
sales
Enter a market that has similarities
Move into a brand new direction
What does organic growth provide for the company?
Which of the following occurs in the norming stage of Tuckman’s team development model?
Performance increases.
Part of the process of incorporating human performance technology (HPT) is a review of individual
employees, which includes which of the following?
Abilities
Capacity
Skills
How can small businesses compete globally?
Through e-commerce
The learning process for small business is enhanced by studying your _______.
Competition
How does using competitors give companies an advantage?
Creates self-awareness
What is important to the customer for a niche product?
Benefits
What qualities do companies look for in a partner?
Reliability
What are the elements needed from an entrepreneur for success?
Being dedicated
The most common e-commerce model is _______
business to consumer
What steps does effective management accomplish?
Strong market connection
What does a company look for in a partnership?
A partner that will promote the product
Growth for small business is enhanced by forming a(n) ____________
Partnership
Small businesses that develop a _______ product or market have more overall success.
Niche
What makes up the International Chamber of Commerce trade tools?
Guidelines
Voluntary rules
What is the function of the Dispute Settlement Panel?
Objectively assess the facts in dispute
Understand the applicability to the WTO agreement
What is accomplished by the Harmonized Tariff?
Provides statistical categories for all imported merchandise
Provides the applicable tariff rates
Customs and Border Protection provide rulings on imports
What does the International Trade Commission investigate? (Choose 2)
Subsidized imports on domestic industries
Global safeguard investigations
Imports that infringe on intellectual property rights
Dumping of imports on domestic industries
What are the benefits of global law?
Protect the company
Protect intellectual property
What is the mission of the International Trade Commission? (Choose 2)
1. Provide independent analysis, information and support on tariffs, and international
trade
2. Not the enforcer of any actions
3. Maintain the U.S. Harmonized Tariff Schedule
4. Administer U.S. trade remedy laws
The Dispute Settlement Body is responsible for what purpose?
Authorizing suspension of concessions
Appellate body reports
Monitoring implementation of rulings
Adopting panel reports
What are the commission’s five major operations?
Import injury investigation
Intellectual property-based import investigation
What filled the void of the International Trade Organization?
General Agreement on Tariffs and Trade
United Nations Conference on Trade and Development
How does benchmarking help with productivity improvement?
Better performance comparison
Which of the following observations come from benchmarking?
Organizational best practices
Which of the following factors may put pressure on organizations to innovate? (Choose 2)
new regulations
competition
Why is the implementation stage of innovation the most challenging? (Choose 2)
Employees resist change
Most people resist change
What does marketing offer to a company?
It helps the company gain competitive advantage.
What does advertising help you accomplish?
ESTABLISH YOUR BRAND
Which of the following are benefits of a healthy and competitive marketplace?
Helps a company to grow
What are the benefits of the fast follower approach?
Develop new suppliers
Which of the following are common points for competitive advantage?
Offer a comparable product
What do throughput and output combine to accomplish?
Service
What are the microelements of the 5C analysis? (Choose 2)
COMPANY
CUSTOMERS
COMPETITORS
COLLABORATORS
CLIMATE
Which of the following are key performance indicators for sales?
Performance of salespeople
Which of the following does an entrepreneur need to consider in a new venture?
Understand what he or she is undertaking
Critical success factors utilize which of the following?
Decisions that can harm the business when other things are going right
What makes a solid brand identity for a company?
Knowing its goals and core values
Why is identity important?
It ensures that potential customers know the services that are offered.
What is utilized in a portable office?
Dedicated work space
What is the meaning behind data?
To show trends
Which of the following have led to increased collaboration for a business?
Internet