Business Management Quiz 2

Job skills training would include

• time management

• sales and customer service

• safe working procedures

• English as a second language

Which of the following is a factor used to determine the consumer goods categories?

• Whether a product is an industrial or consumer good

• Whether the customer is willing to spend time to compare products

• The stage of the product life cycle

• All of the responses

The basic accounting equation is

• capital = assets + liabilities

• assets = capital - liabilities

• liabilities = assets + capital

• assets = liabilities + capital

When an American company allows a Japanese company to produce and sell in Japan a product the American company invented, this arrangement is known as

• a joint venture

• exporting

• a strategic alliance

• international licensing

The management at Patriot Mills works hard to ensure that no one in its organization has more than one boss and all workers are treated with fairness and respect. Additionally, the firm divides the work into areas of specialization so that everyone knows to whom they should report. The management of Patriot Mills reflects the ideas and principles of:

• John M. Keynes.

• Peter Drucker.

• Karl Marx.

• Henri Fayol.

To reduce turnover in his factories, Henry Ford began offering which of the following to his employees?

• shares of stock and free lunches.

• fewer hours and higher pay

• health insurance and pension plans

• profit sharing and paid vacations

A fund to pay an income to workers who lose their jobs through no fault of their own is

• unemployment insurance

• workers’ compensation

• social security

• pension funds

What is one typical effect of re-engineering?

• improved work flow

• production delays

• job confusion

• more production steps

Steel that is used to produce tools and machinery is classified as a

• consumer good

• capital good

• market good

• production good

Which of the following is not a characteristic of an effective performance review conference?

• Both strengths and weaknesses are discussed.

• A specific work plan is one result of the conference.

• Feedback includes personal opinions as well as objective information.

• The employee has the chance to discuss working conditions and available support.