BUS 103 Question Bank (for Final)

Chapter 1

Multiple Choice Questions

1) What is profit?

a. The difference between a business's revenues and its expenses.

b. A business's total revenue.

c. The total assets of a business.

d. A fixed percentage of sales.

2) Goods are:

a. Intangible activities consumed at the moment of production.

b. Physical commodities that satisfy human needs.

c. The financial resources of a business.

d. The intellectual contributions of employees.

3) Which of the following is NOT a factor of production?

a. Labor

b. Capital

c. Profits

d. Entrepreneurial ability

4) A planned economy is characterized by:

a. Minimal government intervention.

b. Market forces controlling production.

c. The government controls most factors of production.

d. Private ownership of resources.

5) The technological environment of a business includes:

a. Only the physical technologies used in production.

b. Ways by which firms create value for their constituents.

c. The political and legal systems.

d. Cultural norms and values.

6) What does the sociocultural environment of a business include?

a. Only the social media trends

b. The technology used in production

c. Customs, values, and demographic characteristics

d. Financial resources needed to operate

7) Which of the following is a characteristic of a market economy?

a. Centralized government control

b. Private ownership of resources

c. Government owns all factors of production

d. No competition among businesses

8) A surplus occurs when:

a. Quantity demanded exceeds quantity supplied

b. Quantity supplied exceeds quantity demanded

c. Prices are set by the government

d. There is perfect competition

9) The Gross Domestic Product (GDP) measures:

a. Total corporate profits in a country

b. Government spending on social services

c. The total value of all goods & services produced within a country

d. The total exports of a country

10) An entrepreneur is:

a. A person who manages the financial resources of a company

b. A person who accepts the risks and opportunities of creating a new business venture

c. An individual who only invests in existing companies

d. A government official in charge of economic planning

True/False Questions

1) Services are physical commodities that people produce. F

2) The domestic business environment refers to global market conditions. F

3) Capital describes the physical and intellectual contributions made by humans. F

4) Communism is a system where the government owns and operates all factors of production. T

5) Supply is the willingness and ability of producers to offer a good or service for sale. T

6) A monopoly exists when there is only one buyer in the market. F

7) Gross Domestic Product (GDP) measures the total value of goods and services produced within a

national economy. F

8) In a market economy, individual producers and consumers control production and allocation. T

9) The political-legal environment includes the relationship between business and government. T

10) Inflation occurs when widespread price decreases occur throughout an economic system. F

11) The political-legal environment of a business includes international trade agreements. F

12) Real GDP measures the value of goods and services at current market prices. F

13) Privatization refers to the process of making government-owned enterprises private. T

14) A monopoly exists when a market or industry is dominated by a single seller. T

15) The technological environment only includes physical technology, not processes or knowledge. F

Fill in the Blanks Questions

1) An organization that provides goods or services to earn profits is known as a(n) BUSINESS.

2) The difference between a business's revenues and its expenses is called PROFIT.

3) PHYSICAL resources include natural resources and raw materials used by businesses.

4) A MARKET economy relies on market forces to control production and allocation of resources.

5) The SOCIOCULTURAL environment includes the customs, values, and demographic characteristics
of
the society. (Gross National Product (GNP) measures the total value of all goods and services

produced BY A NATIONAL ECONOMY.

6)PURCHASING POWER PARITY is the principle that exchange rates are set so that the prices of
similar products in

different countries are about the same.

7) The BUSINESS cycle is the pattern of short-term ups and downs in an economy.

8)PERFECT competition exists when there are many sellers in a market offering identical

products.

9) The total quantity and quality of goods and services that people can purchase is known as the

STANDARD of living.

10) BALANCE OF TRADE refers to the economic value of all products that a country exports minus
the value of its imported products.

11) The CONSUMER PRICE INDEX is a measure of the prices of typical products purchased by
consumers living in urban areas.

12) MONOPOLISTIC competition occurs when numerous sellers try to differentiate their products
from those of competitors.

13) An economy's AGGREGATE output is the total quantity of goods and services produced during a

given period.

14) MONETARY policies are used by a government to control the size of its money supply.

Short Answer Questions

1) What are the two main types of economic systems?

-PLANNED ECONOMY AND MARKET EKONOMY.

2) Define 'surplus'.

-IT HAPPENS WHEN QUANTITY SUPPLIED EXEEDS QUANTITY DEMANDED.

3) What is privatization?

-PROCESS OF CONVERTING GOVERNMENT ENTERPRISES INTO PRIVATELY OWNED COMPANIES.

4) Explain the term 'real GDP'.

-MEASURES THE VALUE OF THE GOODS AND SERVICES PRODUCED BY AN ECONOMY IN A SPECIFIC
PERIOD , ADJUSTED FOR PRICE CHANGES.

5) What is the role of competition in a private enterprise system?

-Efficiency: Competition fosters efficiency by encouraging businesses to constantly improve their

products and services.
6) What is inflation?

-PRICE INCREASES OCCUR THROUGHOUT AN ECONOMIC SYSTEM

7) Define 'national debt'.

-THE AMOUNT OF MONEY THE GOVERNMENT OWES ITS CREDITORS

8) What does the term 'economic indicators' refer to?

-STATISTICS THAT SHOW WHETHER AN ECONOMI SYSTEM IS STRENGTHENING , WEAKENING , OR

REMAINING STABLE.

9) Explain the concept of 'demand' in economic terms.

-TE WILLINGNESS / ABILITY OF BUYERS TO PURCHASE A PRODUCT.

10) What role does technology play in the global business environment?

Open-Ended Questions

1) Discuss the impact of the technological environment on businesses today.

2) How does globalization affect the domestic business environment?

3) Explain the concept of 'factors of production' and why they are important for economic activity.

4) Describe the relationship between supply, demand, and market equilibrium.

5) What challenges do companies face when entering a global market, and how can they overcome

these challenges?

6) How can a company adapt its products to meet the needs of the global market?

7) Discuss the impact of political-legal factors on international business operations.

8) Explain how demographic characteristics affect the sociocultural environment of a business.

a. Look for explanations on how age distribution, income levels, education, and cultural

trends influence consumer behavior and business strategies.

9) What is the significance of understanding the economic environment for a business?

10) How does the concept of supply and demand explain market dynamics?

Chapter 2

Multiple Choice Questions

1. Ethical behavior in the workplace is defined as:

- A) Actions that are profitable for the business.

- B) Behavior that conforms to individual beliefs and social norms about what’s right and good.

- C) Decisions made by management without employee input.

- D) Following legal guidelines only.

2. Which of the following is NOT a component of assessing ethical behavior?

- A) Gathering relevant factual information.

- B) Determining the most appropriate moral values.

- C) Making a decision based on personal gain.

- D) Making an ethical judgment based on right or wrong.

3. Social responsibility in business refers to:

- A) The financial gains a business aims to achieve.

- B) The overall way in which a business attempts to balance its commitments to relevant groups and
individuals.

- C) The legal obligations a business has to its employees.

- D) A business’s efforts to maximize returns for its shareholders.

4. Which of the following is a primary area of focus in the stakeholder model of responsibility?

- A) Competitors

- B) Media

- C) Investors

- D) Personal Contacts

5. An obstructionist stance towards social responsibility is characterized by:

- A) Actively seeking opportunities to contribute to societal well-being.

- B) Meeting only minimum legal requirements.

- C) Doing as little as possible and potentially denying violations.

- D) Exceeding legal minimums in commitments to social environments.

6. What does it mean when a company takes an accommodative stance towards social
responsibility?

- A) The company does the bare minimum to meet legal requirements.

- B) The company actively denies any social responsibilities.

- C) The company exceeds legal minimums in its commitments to social responsibility.

- D) The company seeks to maximize profits without regard to social responsibilities.

7. Consumerism is dedicated to:

- A) Increasing consumption of goods.

- B) Protecting the rights of consumers in their dealings with businesses.

- C) Promoting consumer goods to businesses.

- D) Reducing the power of consumers.

8. Which of the following is NOT a type of pollution discussed in the context of environmental
responsibility?

- A) Sound pollution

- B) Air pollution

- C) Noise pollution

- D) Light pollution

9. Ethical compliance in a business refers to:

- A) Following only the laws that benefit the company.

- B) The extent to which members of the organization follow ethical and legal standards.

- C) The company's compliance with international ethical standards only.

- D) Making sure that the company is profitable.

10. Which of the following is a primary focus area in the stakeholder model of responsibility?

- A) Competitors

- B) Media

- C) Environment

- D) Distributors

11) ………………… is the set of beliefs about what is right and wrong or good and bad in actions that
affect others.

a) Ethics

b) Business ethics

c) Ethical behavior

d) Social responsibility
 12) …………….. refers to ethical or unethical behaviors of their
by employees in the context
jobs.

a) Ethics

b) Business ethics

c) Ethical behavior

d) Social responsibility

13) ………………. refers to the overall way in which a business attempts to balance its commitments to
relevant groups and individuals in its social environment

a) Ethics

b) Business ethics

c) Ethical behavior

d) Social responsibility

14) ……………………………is behavior that conforms to individual beliefs and social norms about what’s
right and good

a) Ethics

b) Business ethics

c) Ethical behavior

d) Unethical behaviour

15) ……………… is behavior that conforms to individual beliefs and social norms about what is defined
as wrong and bad.

a) Ethics

b) Business ethics

c) Ethical behavior

d) Unethical behaviour

16) Which of the following should be the first step in assessing ethical behavior in a certain
situation?

A) Seek the advice of managers.

B) Make a judgment based on the outcome of the activity.

C) Consider appropriate moral values.

D) Collect facts related to the situation.

E) Gather a range of opinions on the effectiveness of the situation.

17) How do top managers BEST demonstrate a commitment to ethical business practices?

A) By adopting and enforcing written codes of ethics

B) By reading employees' e-mails

C) By decentralized decision-making practices

D) By cooperating with other companies

E) By monitoring employees' web searches

18) Which of the following ethical norms ensures an action is consistent with what's fair?

A) Caring

B) Morals

C) Justice

D) Social responsibility

E) Economic agents

19) Social activism dedicated to protecting the rights of consumers is the result of what?

A) Decreased consumer rights

B) Consumerism

C) International agreements

D) The Consumer Bill of Rights

E) Green marketing efforts

20) When a firm modifies a production process to limit the consumption of valuable resources, and
promotes the product produced as environmentally friendly, which business practice are they
engaging in?

A) Collusion

B) Consumerism

C) Green marketing

D) Recycling

E) Near zero status

21) What is the result of two or more firms collaborating on a wrongful act, such as price fixing?

A) Unfair pricing

B) Price gouging

C) Product collaboration

D) Collusion

E) Consumerism

22) Firms typically confront concerns about responsibility towards the environment, customers,
employees, and investors, which is referred to as

A) social responsibility.

B) whistleblowing.

C) ethics.

D) social consciousness.

E) the stakeholder model of responsibility.

23) What stance do firms who do as little as possible to solve social or environmental problems take?

A) Social accommodation

B) Obstructionist

C) Defensive

D) Accommodative

E) Proactive

24) Firms that meet, and occasionally exceed legal and ethical requirements take what type of social
responsibility stance?

A) Proactive

B) Social accommodation

C) Defensive

D) Accommodative

E) Obstructionist
25) When the government dictates what organizations can and cannot do, what tactic is the
government using?

A) Social responsibility

B) Taxation

C) Stakeholder support

D) Regulation

E) Socialism

True/False Questions

1. Business ethics refers only to the laws a business must follow. F

2. Managerial ethics guide individual managers in their work. T

3. Consumerism is a form of protection for businesses against consumers. F

4. A proactive stance towards social responsibility seeks to do the bare minimum required by law. F

5. Philanthropic giving is a component of managing social responsibility. T

6. Ethical norms in business only apply to top management and not to regular employees. F

7. Lobbying is considered an unethical practice in managing social responsibility. F

8. Philanthropic giving is only aimed at improving the company's image and has no real social value.F

9. The stakeholder model of responsibility prioritizes the company's profits over stakeholder
interests. F

10. A company with a proactive stance towards social responsibility actively seeks opportunities to
benefit society. T

11. The proactive approach to social responsibility argues that profits should not be spent on social
programs. F

12. The strongest stance toward social responsibility a company can take is a proactive one. T

13. Small businesses must answer many of the same social responsibility questions as big
businesses.T

Fill in the Blanks Questions

1. Ethical NORMS provide guidance for behaving in a manner that is good and avoiding bad
behaviors.

2. The STAKEHOLDER model of responsibility includes customers, employees, and the environment
as key stakeholders.

3. ETHICAL compliance refers to the extent to which the members of the organization follow basic
ethical standards of behavior.

4. A CORPORATE Social Audit analyzes a firm’s success in meeting its social responsibility goals.
5. LOBBYING involves formal representation of an organization before political bodies.

6. The NUK E DI model of responsibility emphasizes the importance of balancing commitments to

various stakeholder groups.

7. CONSUMERISM is a social movement dedicated to protecting the rights of consumers.

8. Companies adopt ETHICAL codes to formally declare their commitment to ethical practices.

9. POLITICAL ACTION COMMITTIES (PAC) involves using money and other resources to influence
political decisions.

10. Treating employees with respect and providing career development opportunities are aspects of
responsibility toward EMPLOYEES.

Short Answer Questions

1. What is the role of ethical norms in business?

- THEY PROVIDE GUIDANCE FOR ALL ORGANZATIONS FOR BEHAVING GOOD AND KEEPING AWAY
FROM BAD BEHAVIOURS , SETS THE STAGE FOR COHERENT WORKING ENVIRONMENT.

2. How do companies demonstrate their commitment to ethical business practices?

- 1) BY ADOPTING WRITTEN CODES 2) INSTITUTING ETHICS PROGRAMS

3. Define 'social responsibility' in the context of a business.

- Social responsibility in the context of business refers to the ethical and discretionary obligations a
company has to various stakeholders beyond its legal responsibilities.

4. What are the responsibilities of a business towards its employees?

-TREAT THEM FAIRLY AND RESPECT THEIR DIGNITY AND BASIC HUMAN NEEDS ; PROVIDE
OPPORTUNITIES TO BALANCE WORK AND PERSONAL LIFE ; HELP THEM MAINTAIN JOB SKILLS ;
PROPER WORKING CONDITIONS , ETC.

5. Why is consumerism important?

- BECAUSE IT PROTECTS CONSUMER RIGHTS.

6. What role does ethical compliance play in a business?

-IT CAN HELP IN MANAGING SOCIAL RESPONSIBILITY IN AN ORGANIZATION.

7. Describe one way a business can demonstrate social responsibility toward its community.

- PHILANTHROPIC GIVING

8. What is the significance of adopting written codes of ethics in a business?

9. How does consumerism protect consumer rights?

10. What is the obstructionist stance towards social responsibility?

Open-Ended Questions

1. Discuss the importance of ethical behavior in managerial roles.

2. Explain how a business can balance profit-making with social responsibility.

3. How can a company ensure its social responsibility efforts are effective?

4. What challenges do businesses face in implementing an ethics program, and how can they
overcome them?

5. Describe the potential benefits and drawbacks of a proactive stance towards social responsibility.

6. Explain the importance of balancing utility, rights, justice, and caring in assessing ethical behavior
in business.

7. How can a company effectively manage its social responsibility?

8. Discuss the impact of environmental responsibility on a company's social responsibility stance.

9. Describe the challenges a small business might face in adopting a social responsibility agenda and
possible solutions.

10. How can businesses influence government policies in a socially responsible way?

Chapter 5

Multiple Choice Questions

1. Which of the following is not one of the 4 Basic Management Functions?

- A) Evaluating

- B) Planning

- C) Organizing

- D) Leading

2. What is the first step in becoming a successful manager?

- A) Acquiring experience

- B) Education

- C) Networking

- D) Mentorship

3. What type of manager is responsible for supervising the work of employees?

- A) Top Manager

- B) Middle Manager

- C) First-Line Manager

- D) Generalist Manager
4. Which managerial role involves acting as a spokesperson for the organization?

- A) Interpersonal Roles

- B) Informational Roles

- C) Decisional Roles

- D) Operational Roles

5. A manager using SWOT Analysis is conducting what kind of analysis?

- A) Performance

- B) Environmental

- C) Operational

- D) Financial

6. What is the primary goal of the controlling function in management?

- A) To socialize with employees.

- B) To ensure the organization meets its goals.

- C) To plan the organization's Christmas party.

- D) To organize team-building activities.

7. Which of the following best describes the leading function of management?

- A) Arranging resources and tasks.

- B) Guiding and motivating employees to meet objectives.

- C) Monitoring financial performance only.

- D) Planning retirement parties.

8. A manager involved in setting goals for future organizational performance and deciding on the
tasks and use of resources needed to attain them is performing which function?

- A) Controlling

- B) Leading

- C) Planning

- D) Organizing
9. Who is primarily responsible for formulating strategies and approving significant decisions in an
organization?

- A) First-Line Managers

- B) Middle Managers

- C) Top Managers

- D) Staff Managers

10. Which type of manager is a specialist and acts as an advisor?

- A) Generalist Manager

- B) Functional Manager

- C) Staff Manager

- D) Operational Manager

True/False Questions

1. Management is only about leading an organization's employees. F

2. Middle managers are responsible for the overall performance and effectiveness of the firm. F

3. Functional Managers specialize in specific areas like marketing or finance. T

4. Corporate culture only includes the formal rules and policies of an organization. F

5. Contingency Planning is a process for making decisions in emergency situations. F

6. The leading function of management only involves giving orders to employees. F

7. Middle Managers are directly responsible for the daily supervision of non-managerial employees.F

8. Organizing involves determining the tasks and relationships required to achieve the organization's
goals. T

9. Human Relations Skills are not important for Top Managers. F

10. Operational Plans are concerned with long-term strategies and objectives. F

Fill in the Blanks

1. Management involves planning, organizing, LEADING, and controlling an organization's resources.

2. A FIRST-LINE Manager works directly with employees and is responsible for day-to-day activities.

3. HUMAN RELATION Skills are crucial for understanding and getting along with people.

4. The CORPORATE strategy determines the firm's overall attitude toward growth.

5. CONTINGENCY Planning identifies business aspects that might entail changes in strategy.
6. The management process of guiding and motivating employees to meet an organization's
objectives is known as LEADING.

7. MIDDLE Managers are responsible for translating the general goals and plans developed by Top
Managers into more specific activities.

8. COMMUNICATION Skills enable a manager to understand, communicate with, and work well with
individuals and teams.

9. The CONTROLLING function of management is concerned with monitoring the organization’s

progress toward its goals.

10. A GENERAL Manager oversees activities across several departments or divisions.

Short Answer Questions

1. What is the role of a Top Manager?

-A TOP MANAGER IS RESPOSIBLE FOR FIRM’S OVERALL PERFORMANCE AND EFFECTIVENESS.

2. Define 'Corporate Culture'.

-THE SHARED EXPERIENCES, STORIES , BELIEFS , AND NORMS THAT CHARACTERIZE AN

ORGANIZATION. IT HELPS TO DEFIE THE WORK AND BUSIESS CLIMATE THAT EXISTS IN AN
ORGANIZATION.

3. What are Technical Skills, and why are they important for managers?

-TECHNICAL SKILLS :SKILLS NEEDED TO PERFORM SPECIALIZED TASKS. Technical skills are essential
for effectively understanding and overseeing the specific functions and processes within an
organization.

4. Explain the concept of 'Crisis Management'.

-CRISIS MANAGEMENT CONSISTS ON ORGANIZATION’S METODS FOR DEALING WITH EMERGENCIES.

5. What is the purpose of Tactical Planning?

- IT IS A GENERALLY SHORT-TERM PLAN CONCERNED WITH IMPLEMENTING SPECIFIC ASPECTS OF A

COMPANY’S STRATEGIC PLANS.

6. What is meant by 'planning' in the management process?

-IT CONSISTS IN THE MANAGEMENT PROCESS OF DETERMNING WHAT AN ORGANIZATION NEEDS TO

DO AND HOW BEST TO GET IT DONE.

7. Describe the role of a First-Line Manager.

-RESPONSIBLE FOR SUPERVISING THE WORK OF EMPLOYEES.

9. How can managers effectively perform the controlling function?

-BY MONITORING AN ORGANIZATION’S PERFORMANCE TO ENSURE THAT IT IS MEETING ITS GOALS.

10. What is a 'Staff Manager' and how do they contribute to an organization?

- A PROFESSIONAL AND EXPERT IN A SPECIFIC AREA OF BUSINESS . HE PLAYS TE ROLE OF ADVISOR .

Open-Ended Questions

1. Discuss the importance of Contingency Planning in modern business management.

2. How does an organization's Corporate Culture impact its overall success?

3. Describe how a manager can effectively use Decisional Roles to benefit the organization.

4. What challenges do First-Line Managers face, and how can they overcome them?

5. Explain the relationship between Strategic Management and an organization's performance.

6. Explain how the organizing function of management contributes to achieving organizational goals.

7. Discuss the importance of Interpersonal Roles for managers.

8. Reflect on the challenges of implementing a strategic management process in a multinational

corporation.

9. How do Decisional Roles affect a manager's ability to address organizational challenges?

10. What strategies can managers use to minimize wasted time in the workplace?

Chapter 7

Multiple Choice Questions

1. Which of the following is a key difference between goods and service operations?

- A) Goods operations don't interact with customers.

- B) Service operations often involve the customer in the process.

- C) Goods are always intangible products.

- D) Services cannot be stored.

2. What is the primary focus of operations management?

- A) To monitor employee behavior.

- B) To control the company's financial activities.

- C) To oversee the transformation of resources into finished products.

- D) To manage the company's marketing strategies.

3. Which layout is designed to produce one type of product in a fixed sequence of activities?

- A) Process Layout

- B) Product Layout

- C) Fixed-Position Layout

- D) Assembly Line Layout

4. What does JIT production stand for?

- A) Just-In-Time

- B) Just-In-Test

- C) Just-In-Technology

- D) Just-Initiated Tasks

5. ISO 9000 certification ensures that a factory, laboratory, or office has met:

- A) Environmental performance standards.

- B) Financial management standards.

- C) Quality management standards.

- D) Supply chain efficiency standards.

6. Which of the following best defines 'Lean Production System'?

- A) A system that focuses on increasing product variety.

- B) A production method relying on significant inventory stocks.

- C) A system designed for smooth production flows to avoid inefficiencies.

- D) A traditional mass production system that prioritizes quantity over quality.

7. What is the main goal of Total Quality Management (TQM)?

- A) To reduce the number of employees in the production process.

- B) To eliminate all management levels except for top and first-line managers.

- C) To get high-quality goods and services into the marketplace.

- D) To increase production speed regardless of product quality.

8. In which type of layout are resources arranged according to the sequence of production?

- A) Process Layout

- B) Product Layout

- C) Fixed-Position Layout

- D) Flexible Layout
9. The Just-In-Time (JIT) Production system aims to:

- A) Bring together all materials only when they are required at each production stage.

- B) Increase inventory levels for better preparedness.

- C) Reduce the need for quality control processes.

- D) Focus on producing a wider range of products rather than reducing waste.

10. Which ISO certification focuses on environmental performance?

- A) ISO 9000

- B) ISO 14000

- C) ISO 31000

- D) ISO 22000

True/False Questions

1. Lean Production Systems are designed to eliminate unnecessary inventories. T

2. Operations management only applies to manufacturing industries. F

3. A high-contact system requires the customer to be part of the service delivery system. T

4. Capacity planning involves determining how much a company should advertise its products. F

5. Quality control actions ensure that operations do not meet specific quality standards. T

6. Service Operations can store their outputs for later use. F

7. Operations Management is only concerned with the final stage of production. F

8. A Product Layout is used for custom-made products. F

9. Capacity Planning considers the maximum production capability under normal conditions. T

10. Supplier Selection is unrelated to the quality of the final product. F

Fill in the Blanks

1. Operations management involves the systematic direction and control of the processes that
transform RESOURCES into finished products.

2. LAYOUT planning involves determining the physical arrangement of resources, including

machinery and equipment.

3. A JUST-IN-TIME (JIT) system brings together all materials at the precise time they are required at
each production stage.

4. Total Quality Management (TQM) is a comprehensive approach involving all activities to get
highquality goods and services into the MARKETPLACE.
5. Business Process REENGINEERING involves rethinking and radical redesign of business processes
to improve performance and productivity.

6. The PERFORMANCE dimension of quality refers to the reliability of a product to perform as

expected over time.

7. A FIXED-POSITION Layout is where labor, equipment, materials, and other resources are brought
to a central location where production work is done.

8. MATERIALS Management involves planning, organizing, and controlling the flow of materials from
sources to distribution.

9. Competitive Product ANALYSIS is a process of analyzing a competitor’s products to identify

improvements.

10. GANTT CHART Scheduling breaks down large projects into steps and specifies the time required
for each step.

Short Answer Questions

1. What is capacity planning?

-AMOUNT OF A PRODUCT A COMPANY CAN PRODUCE NDER NORMAL CONDITIONS

2. Define 'Supply Chain Management'.

-THE PRINCIPLE OF LOOKING AT THE SUPPLY CHAIN AS A WHOLE TO IMPROVE THE OVERALL FLOW
THROUGH THE SYSTEM.

3. Explain the concept of 'Lean Production System'.

-PRODUCTION SYSTEM DESIGNED FORSMOOTH PRODUCTION LOWS THAT AVOID INEFFICIENCIES ,

ELEMINATE UNNESCESSARITY INVENTORIES , AND IMPROVE PRODUCTION PROCESS.

4. What role does 'Quality Control' play in operations management?

-IT ENSURES THAT OPERATIONS PRODUCE PRODUCTS THAT MEET SPECIFIC QUALITY STANDARTS.

5. How does 'Outsourcing' impact operations management?

-REPLACE INTERNAL PROCESSES BY PAYING SUPPLIERS AND DISTRIBUTOR TO PERFORM BUSINESS

PROCESSES OR TO PROVIDE NEEDED MATERIALS OR SERVICES.

6. What is the purpose of ISO 9000 certification?

-CERTIFYING THAT A FACTORY , LABORATORY , OR OFFICE HAS MET THE QUALITY MANAGEMENT
STANDARDS SET.

7. Define 'Capacity Planning' in operations management.

- THE AMOUNT OF A PRODUCT THAT A COMPANY CAN PRODUCE UNDER NORMALCONDITIONS.

8. What distinguishes a Make-to-Order operation?

-ACTIVITIES FOR CUSTOM-MADE PRODUCTION.

12. What is the significance of 'Assembly Line Layout' in manufacturing?

-A SAME-STEPS LAYOUT IN WHICH A PRODUCT MOVES STEP BY STEP

13. How do 'Service Production Processes' differ based on the extent of customer contact?

Open-Ended Questions

1. Discuss the advantages and challenges of implementing a JIT production system.

2. How can operations managers ensure high service quality in high-contact systems?

3. Describe the role of technology in modern operations management.

4. Explain how ISO 9000 certification can impact a company's operations and market perception.

5. Consider the ethical implications of outsourcing in global supply chains.

6. Discuss how operations management has evolved with the advent of globalization and
technology.

7. Reflect on the challenges and benefits of implementing a Just-In-Time (JIT) production system.

8. Analyze the impact of poor quality control on a manufacturing company and its customers.

9. Examine the role of technology in enhancing operations management and supply chain efficiency.

10. Consider the ethical implications of outsourcing production to countries with lower labor
standards.

Chapter 9

True/False Questions

1. Goods operations produce intangible products like education. F

2. Service operations produce intangible products like education. T

2. Make-to-Stock operations focus on custom-made production. F

3. In a high-contact system, the customer is part of the system during service delivery. T

4. Location planning is about determining the amount of product a company can produce F

5. Process Layout groups equipment and people according to function. T

6. An assembly line layout is a type of fixed-position layout. F

7. Detailed schedules show the overall plan for upcoming production. F

8. Lean Production Systems are designed to avoid inefficiencies and eliminate unnecessary
inventories. T

9. Quality Control is the action of ensuring that operations produce products that meet diverse
quality standards. T

10. Supply Chain Management looks at individual parts of the supply chain separately. F
Multiple Choice Questions

1. Service Operations produce:

a) Tangible products

b) Intangible products

c) Raw materials

d) None of the above

2. Which of the following is a characteristic of Make-to-Order operations?

a) Standardized production

b) Mass consumption

c) Custom-made production

d) Continuous production

3. What does Capacity Planning determine?

a) Where to produce

b) How much to produce

c) When to produce

d) What to produce

Answer: b) How much to produce

4. Which layout is designed to make one type of product in a fixed sequence?

a) Process Layout

b) Product Layout

c) Assembly Line Layout

d) Fixed-Position Layout

5. The Gantt Chart is used for:

a) Selecting suppliers

b) Breaking down large projects into steps

c) Inventory control

d) Quality control
6. Just-in-Time (JIT) Production is a type of:

a) Assembly Line Layout

b) Project Scheduling

c) Lean Production System

d) Quality Planning

7. Which of the following is a part of Materials Management Activities?

a) Value-Added Analysis

b) Supplier Selection

c) Quality Improvement Team

d) Competitive Product Analysis

8. Total Quality Management (TQM) includes all activities involved in:

a) Breaking down large projects

b) Getting high-quality goods & services into the marketplace

c) Planning the layout of machinery

d) Scheduling staff

9. ISO 9000 is a program certifying:

a) Environmental performance

b) Product quality

c) Quality management standards

d) Supplier efficiency

10. Outsourcing is:

a) A type of lean production system

b) Paying suppliers to perform business processes

c) A method of inventory control

d) A tool for total quality management

Fill in the Blanks

1. Goods Operations produce TANGIBLE products.

2. HIGH-CONTACT SYSTEM is a level of customer contact where the customer need not be part of
the system.

3. In LAYOUT Planning, the physical arrangement of production activities groups equipment

according to function.

4. The MASTER SCHEDULEis the 'game plan' for upcoming production.

5. A GANTT CHART production schedule breaks down projects into steps and specifies time
requirements.

7. Purchasing is the acquisition of MATERIALS and services needed for production.

8. QUALITY Control is ensuring that operations meet specific quality standards.

9. The dimension of quality that refers to how well a product does what it's supposed to is
PERFORMANCE.

Short Answer Questions

1. What is the main difference between Goods Operations and Service Operations?

2. Describe what Make-to-Stock Operations are.

3. What is the significance of a Low-Contact System in service production processes?

4. Explain the concept of Capacity Planning in operations planning.

5. What is the purpose of a Process Layout in layout planning?

6. How does a Gantt Chart aid in project scheduling?

7. What is the key principle of Just-in-Time (JIT) Production in lean production systems?

8. Why is Supplier Selection important in Materials Management Activities for Physical Goods?

9. What is the role of Quality Control in operations?

10. Describe the principle of Quality Ownership in Total Quality Management (TQM).

Chapter 10

Multiple Choice Questions

1. What is the main purpose of Human Resource Management (HRM)?

- A) To manage the company's finances.

- B) To ensure compliance with labor laws.

- C) To attract, develop, and maintain an effective workforce.

- D) To oversee the organization's technological resources.

2. Which of the following is a key component of HR Planning?

- A) Market analysis.

- B) Job Analysis.

- C) Competitor analysis.

- D) Financial forecasting.

3. What does a Realistic Job Preview (RJP) aim to provide to applicants?

- A) An overview of the company's history.

- B) A real picture of what performing the job would be like.

- C) The salary range and benefits.

- D) The company's future goals.

4. Which of the following is a method used in selecting human resources?

- A) Performance appraisal.

- B) Talent management.

- C) Interviews.

- D) Employee engagement surveys.

5. What is an incentive program designed to do?

- A) Reduce employee turnover.

- B) Motivate high performance.

- C) Decrease production costs.

- D) Increase the number of employees.

6. Which of the following best describes 'Human Capital'?

- A) Financial resources available for investment.

- B) The total market value of an organization.

- C) The knowledge, skills, and abilities of an organization's employees.

- D) The physical assets of an organization.

7. A Replacement Chart is primarily used for:

- A) Tracking employee attendance.

- B) Planning long-term promotions and succession.

- C) Organizing daily work schedules.

- D) Calculating employee benefits.

8. What is the primary purpose of conducting Job Analysis?

- A) To determine employee salaries.

- B) To identify the duties and responsibilities of a job.

- C) To assess the performance of the employees.

- D) To create a list of potential job candidates.

9. Which incentive program is specifically designed to distribute bonuses when company profits rise
above a certain level?

- A) Pay-for-Performance

- B) Merit Salary System

- C) Profit-Sharing Plan

- D) Gainsharing Plan

10. In the context of HRM, what does 'Outsourcing' typically involve?

- A) Hiring temporary employees for short-term tasks.

- B) Training existing employees for different roles within the organization.

- C) Replacing internal processes with external suppliers.

- D) Promoting employees to higher positions within the organization.

True/False Questions

1. Forecasting HR demand and supply involves predicting the number and type of employees needed
in the future. (True)

2. Internal recruiting considers candidates from outside the organization only. F

3. A Replacement Chart is used to plan future vacations for employees. F

4. Development usually refers to teaching operational employees how to do their jobs. T

5. Mediation in labor disputes involves a third party imposing a settlement. F

6. Employee Information Systems are primarily used for payroll processing.F

7. Workforce Diversity includes differences in employees' educational backgrounds and work
experience. T

8. Internal Recruiting can help reduce the onboarding time for new roles. T

9. Realistic Job Previews (RJP) tend to decrease applicant interest in a job. F

10. Labor Unions only exist in the manufacturing sector. F

Fill in the Blanks

1. Human Resource Management is crucial for developing and maintaining an effective WORKFORCE.

2. Job DESCRIPTION includes the duties, responsibilities, and conditions of a job.

3. External RECRUITING is the process of attracting job candidates from outside the organization.

4. OFF-THE-JOB Training is conducted away from the work site in a controlled environment.

5. Collective BARGAINING is the process by which labor and management negotiate employment
conditions.

6.KNOWLEDGE Workers are employees who possess critical knowledge or skills.

7. A(n) INCENTIVE Program is a special compensation program designed to motivate high

performance.

8. The process of attracting qualified candidates to apply for job openings is known as RECRUITING.

9. COLLECTIVE Bargaining is the process by which labor and management negotiate the conditions of
employment.

10. Cafeteria BENEFITS Plan allows employees to choose from a variety of benefits to tailor their
compensation package.

Short Answer Questions

1. What is 'Human Capital'?

-REFLECTS THE ORGANIZATION’S INVESTMENT IN ATTRACTING , RETAINING AND MOTIVATING AN

EFFECTIVE WORKFORCE.

2. Define 'Forecasting internal supply' in HR planning.

-THE NUMBER AND TYPE OF EMPLOYEES WHO WILL BE IN THE FIRM AT SOME FUTURE DATE

3. What is the purpose of a Skills Inventory?

NUK E DI

4. How does a 'Merit Salary System' work?

--INDIVIDUAL INCENTIVE LINKING COMPENSATION TO PERFORMANCE IN NON-SALES JOBS

5. What is 'Gainsharing Plan'?

-INCENTIVE PLAN THAT REWARDS GROUPS FOR PRODUCTIVITY IMPROVEMENTS

6. What is the primary goal of Human Resource Management (HRM)?

7. Define 'Talent Management' and its importance.

8. Explain the difference between 'Training' and 'Development'.

9. What is a '360-Degree Feedback'?

-PERFORMANCE APPRISIAL TECHNQUE IN WHICH MANAGERS ARE EVALUATED BY EVERYONE

AROUND THEM

10. Describe the role of 'Contingent Workers' in today's workforce.

-EMPLYEE HIRED ON SMT OTHER THAN A FULL-TIME BASIS TO SUPPLEMENT AN ORGANIZATION’S

PERMANENT FORCE

11. What does 'Workforce Diversity' encompass in HRM?

12. Define 'Collective Bargaining'.

13. What is the significance of a Skills Inventory in HRM?

14. Explain the concept of 'Pay-for-Knowledge Plan'.

-INCENTIVE PLAN TO ENCOURAGE EMPLOYEES TO LEARN NEW SKILLS

15. What role does an 'Employee Information System' play in HRM?

Open-Ended Questions

1. Discuss the importance of workforce diversity in modern HR management.

2. Examine the role of training and development in talent management.

3. Reflect on the challenges of managing contingent and temporary workers.

4. Analyze the benefits and potential downsides of Pay-for-Performance incentive plans.

5. Evaluate the effectiveness of mediation and arbitration in resolving labor disputes.

6. Discuss the challenges HR managers face in managing workforce diversity and strategies to
address them.

7. How has the rise of knowledge workers changed the approach to HR management?

8. Examine the impact of incentive programs on employee motivation and organizational

performance.

9. Reflect on the significance of collective bargaining in labor relations today.

10. Analyze the role and effectiveness of mediation and arbitration in resolving labor disputes.

11. Discuss the advantages and potential challenges of implementing a 'Cafeteria Benefits Plan' in an
organization.

12. How can HR managers effectively address the challenges of managing a diverse workforce?

13. Reflect on the impact of 'Contingent Workers' on an organization's workforce dynamics.

14. Evaluate the role of 'Performance Appraisal' processes in employee development and
organizational growth.
15. Analyze the importance of 'Forecasting HR Demand and Supply' in strategic HR planning.

Chapter 11

Multiple Choice Questions

1. What does Philip Kotler describe as the aim of marketing?

- A) To create the most profit.

- B) To understand the customer so well that the product sells itself.

- C) To develop the highest quality product.

- D) To dominate the global market.

2. Which of the following is NOT a form of utility?

- A) Price

- B) Form

- C) Time

- D) Place

- Correct Answer: A) Price

3. What is the primary focus of Relationship Marketing?

- A) Building lasting relationships with customers.

- B) Increasing sales through aggressive promotions.

- C) Reducing production costs.

- D) Expanding the product line.

4. Which environment includes the customs, values, and demographic characteristics of the society?

- A) Political-Legal Environment

- B) Sociocultural Environment

- C) Technological Environment

- D) Economic Environment

5. What is a 'Substitute Product'?

- A) A product that fulfills the same need as another but is similar.

- B) A product that is dissimilar from competitors but fulfills the same need.

- C) A lower-priced version of an existing product.

- D) A premium version of a competing product.

6. Which of the following best defines the concept of 'Consumer Goods'?

- A) Products used by companies to produce other products.

- B) Services offered by businesses to end consumers.

- C) Physical products purchased by consumers for personal use.

- D) Digital products available for consumer download.

7. What is the primary goal of Customer Relationship Management (CRM)?

- A) To reduce marketing costs.

- B) To build better information connections with clients and develop stronger company-client
relationships.

- C) To increase the speed of service delivery.

- D) To monitor employee performance.

8. Which of the following is a key characteristic of services?

- A) Tangibility.

- B) Storability.

- C) Intangibility.

- D) Unlimited supply.

9. What does the 'Place' element of the Marketing Mix involve?

- A) Setting the price of the product.

- B) Designing the product.

- C) Promoting the product through advertising.

- D) Getting the product from producers to consumers.

10. Which strategy emphasizes building lasting relationships with customers and suppliers?

- A) Product differentiation.
- B) Relationship Marketing.

- C) Sales orientation.

- D) Direct marketing.

True/False Questions

1. The Marketing Mix is also known as the 4 P's: product, price, place, and promotion. T

2. Brand Loyalty is when a consumer consistently purchases the same brand due to its perceived
inferiority. F

3. Industrial Goods are purchased by consumers for personal use. F

4. Psychographic Segmentation involves dividing a market based on geographic units. F

5. Social Media Marketing is an outdated concept that has been replaced by traditional advertising. T

6. The Selling Concept focuses primarily on meeting the organization's needs rather than the
customer's needs. T

7. International Pricing is simpler than domestic pricing due to uniform market conditions. T

8. Psychographic Segmentation considers consumer lifestyles, opinions, and interests. T

9. A Marketing Plan is a static document that, once created, should not be altered. F

10. Brand Loyalty can significantly reduce the cost of marketing and sales for a company.F

Fill in the Blanks

1. Marketing is the organizational function and set of processes for CREATING, delivering value, and
managing customer relationships.

2. __________ Marketing focuses on satisfying customer wants and needs.

3. The process of dividing a market into categories of customer types is known as __________.

4. Emotional Motives in consumer behavior are based on __________ factors.

5. Viral Marketing relies on the INTERNETto spread information from person to person.

6. The aim of marketing, according to Philip Kotler, is to understand the customer so well that the
product or service __________ itself.

7. __________ Marketing involves coordinated marketing activities to achieve profit through

customer satisfaction.

8. Consumer behavior studies the decision process by which people __________ and consume
products.

9. __________ is the total package of rewards that organizations provide to individuals in return for
their labor.

10. Viral Marketing relies on the __________ to spread information from person to person.
(Internet)

Short Answer Questions

1. Define 'Market Segmentation'.

2. What is 'Consumer Behavior'?

3. Explain 'Brand Competition'.

4. What role does 'Social Media Marketing' play in modern marketing strategies?

5. How does 'The International Marketing Mix' differ from domestic marketing?

6. Define 'Market Segmentation'.

7. Explain the significance of the 'Promotion' aspect of the Marketing Mix.

8. What role does 'Advertising' play in marketing?

9. Describe what 'Personal Selling' entails.

10. What is the purpose of 'Sales Promotion'?

Open-Ended Questions

1. Discuss the importance of understanding consumer behavior in developing effective marketing

strategies.

2. Analyze the challenges and opportunities of International Marketing for businesses.

3. Reflect on how technology has transformed the Marketing Environment in recent years.

4. Evaluate the role of Relationship Marketing and Customer Relationship Management (CRM) in
building customer loyalty.

5. How do companies utilize Market Segmentation to enhance their marketing efforts?

6. Discuss the impact of social media on contemporary marketing strategies.

7. Analyze the challenges of implementing an effective CRM system and strategies for overcoming
them.

8. Reflect on the importance of understanding Psychological Influences on consumer behavior for

marketers.

9. Evaluate the role of Market Research in developing a marketing strategy.

10. How does the International Marketing Mix differ from domestic marketing, and what are the key
considerations for marketers?