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1. Which types of power are most effective? (Points : 2) Coercive and Referent
Expert and Referent
Reward and Expert
Legitimate and Reward
Expert and Reward
Question 2. 2. Which letters of the SWOT are usually external? (Points : 2)
Opportunities and Threats
Weaknesses and Threats
Opportunities and Strengths
Strengths and Threats
Question 3. 3. Which business form has the greater liability? (Points : 2)
Sole proprietorship
a Corporation
a 501C3
Question 4. 4. There is one leadership style as a “best” leadership style for all situations and employees. (Points : 2)
True
False
Question 5. 5. What does the POLC model stand for? (Points : 2)
Participation, Outcomes, Learning and ConsensusPromotion, Organization,
Liability and Consumer
Payment, Outsourcing, Lean Production and Control
Planning, Organizing, Leading and Controlling
Question 6. 6. ADA law requires businesses hiring for a position if they find a qualified disabled candidate to: (Points : 2)
Only disqualify them if the applicant cannot “get around” as quickly as an able bodied candidate.
Hire them if you can make reasonable accommodations for the applicant.
Only consider them for hiring if the company has fewer than 10 people.
Question 7. 7. What does “Place” means in the 4 P’s of the marketing mix: (Points : 2)
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.
Question 8. 8. First-line managers are responsible for setting objectives consistent with organizational goals and planning and implementing subunit strategies for achieving these objectives. (Points : 2)
True
False
Question 9. 9. Reward involves the legitimate authority someone has to control others and resources based on their title/position in the company (Points : 2)
True
False
Question 10. 10. Effective managers define __________ as the process of influencing others to achieve group or organizational goals. (Points : 2)
management
leadership
interpersonal influence
supervision
Question 11. 11. When manufacturers aggressively trying to convince wholesalers, who in turn convinces retailers to carry their products is considered what type of marketing strategy? (Points : 2)
trade-off strategy
push strategy
pull strategy
personal selling strategy
Question 12. 12. The control process begins when managers set goals. (Points : 2)
True
False
Question 13. 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. (Points : 2)
LLC
501-C3 Non-Profit Corporation
C Corporation
S Corporation
Sole Proprietorship
Partnership
Question 14. 14. A sub-group of people or firms that share characteristic(s) and have product needs in common is called a: (Points : 2)
market segment
psychographic group
customer base
client profile
Question 15. 15. Break-even analysis determines the needed sales volume to be reached in order to cover all costs, and before any profits are realized. (Points : 2)
True
False
Question 16. 16. Expert is defined as power and influence based on expertise. These individuals have specialized knowledge such that others come to depend on them. (Points : 2)
True
False
Question 17. 17. 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. (Points : 2)
LLC
S Corporation
501-C3 Non-Profit Corporation
C Corporation
Partnership
Sole Proprietorship
Question 18. 18. This type of business structure has more legal, reporting, and financial requirements than other forms of ownership. Before stockholders receive a penny of its net income as dividends, they must pay these taxes a graduated tax on profits. Then stockholders must pay taxes on the dividends they receive from these same profits at the individual tax rate. (Points : 2)
C Corporation
501-C3 Non-Profit Corporation
LLC
S Corporation
Partnership
Sole Proprietorship
Question 19. 19. S.M.A.R.T. goals are Specific, Measurable, Attainable, Realistic, and Timely. (Points : 2)
True
False
Question 20. 20. In this product life cycle stage, the competition becomes more fierce. (Points : 2)
Introduction
growth
maturity
decline
Question 21. 21. 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. (Points : 2)
C Corporation
S Corporation
501-C3 Non-Profit Corporation
LLC
Partnership
Sole Proprietorship
Question 22. 22. Referent is defined as power derived from the admiration and respect of others and often through charisma that these individuals radiate. (Points : 2)
True
False
Question 23. 23. Middle managers are typically responsible for coordinating and linking groups, departments, and divisions within a company. (Points : 2)
True
False
Question 24. 24. The 4 P’s of marketing are: (Points : 2)
product, place, perspective, price
product, price, production, promotion
price, placement, promotion, production
product, price, place, promotion
Question 25. 25. Coercive is defined as an employee acts out of fear of repercussions if they do not comply. (Points : 2)
True
False