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MGT 465 WEEK 5 final examination

1. A __________ concept is a customer-centered, ‘sense and respond’ marketing philosophy. A. selling B. product C. marketing D. holistic E. relationship Answer: ____C______ 2. __________ means that a company or website offers to transact or facilitate the selling of products and services online. A. E-Business B. E-Commerce C. E-Purchasing D. E-Marketing Answer: ___B_______ 3. Wood, cotton, bauxite, coal, industrial-grade diamonds, and platinum are all classified as: A. component materials. B. capital items. C. supplies and business services. D. raw materials. Answer: __________ 4. __________ is the process of managing detailed information about individual customers and all customer ‘touch points’ to maximize customer loyalty. A. One-to-one marketing B. Customer retention C. Customer lifetime value (CLV) D. Customer relationship management (CRM) E. Datamining Answer: ___D_______ 5. __________ advertising focuses on product availability, stimulating store traffic, and creating a distinctive image. A. Brand B. Retail or local C. Political D. Business-to-business E. Direct-response Answer: ___B_______ 6. The best foundation for the creation of a sound private market is based on the rights of people to: A. sue. B. acquire, use, and sell private property. C. diversify. D. act extraterritorially. Answer: ____B______ 7. Courts can use judicial review to modify the awards of voluntary arbitration when: A. either party is dissatisfied with the award. B. the court views the award to be contrary to public policy based on general considerations of presumed public interest. C. the actions of the arbitrator are deemed arbitrary. D. the time allowed for dispute resolution expired prior to the presentation of a formal award. Answer: ____C______ 8. An agreement to settle a disputed debt is called a/an: A. accord and satisfaction. B. promissory estoppel. C. restitution. D. mitigation. Answer: ___A_______ 9. Policies such as using cosigned checks and dividing check-writing duties from bank reconciliation duties can help to prevent __________. A. conspiracy. B. violations of RICO. C. wire fraud. D. embezzlement. Answer: __________ 10. Insiders are prohibited from trading for profit in order to prevent: A. over-activity in trading in the market. B. use of the information not available to the public. C. a shortage of available stock. D. unfriendly takeovers. Answer: __________ 11. The heart of strategic planning is the S.W.O.T. analysis. S.W.O.T. stands for: A. Software Warehousing of Temps. B. Strategic Written Observational Tests. C. Strengths, Weaknesses, Opportunities, and Threats. D. Sectional, Weighted, Occupational, Transactions. Answer: __________ 12. When it comes to interviewing candidates, what is a consistent mistake that interviewers make? A. Asking different questions to each candidate B. Placing too much emphasis on first impressions C. Making the interview too informal D. Making the interview too formal Answer: __________ 13. When organizations combine salary grades and ranges into just a few wide levels, each containing a wide range of jobs and salary grades, it is called: A. comparable worth. B. job classification. C. job evaluation. D. broadbanding. Answer: __________ 14. Lewin’s change process involves the following steps: A. unfreezing, moving, refreezing. B. moving, refreezing, unfreezing. C. unfreezing, refreezing, moving. D. assess, plan, evaluate. Answer: __________ 15. According to research, one main reason for expatriate failure is: A. poor training. B. lack of resources to do the job. C. the inability of the employee’s spouse to adjust. D. not being able to speak the language. Answer: __________ 16. Sally is a leader who assesses the situation and adapts her behavior and style to match her followers’ needs, maturity, training, and cohesion. She can best be described as: A. task oriented. B. relationship oriented. C. focused on extroversion. D. using the contingency approach. E. using the path-goal theory. Answer: __________ 17. To implement change successfully, leaders ought to: A. plan a bottom-up approach to changes in people and culture, strategy and structure, products and services, and technology. B. downsize as a first step, then let the retained workers set the agenda for change. C. limit changes in the organization to an absolute minimum, and apologize for the disruptions caused by them. D. limit creativity-building initiatives, because they distract workers from the changes that will be made. E. implement a series of carefully planned, but often lengthy stages. Answer: __________ 18. Promoting diversity makes sense because: A. it’s the best way to balance the fact that white male workers still dominate the U.S. workforce. B. diverse employees can build better relationships with customers, among many other reasons. C. a diverse group tends to reach agreement on decisions more quickly than a homogenous group. D. workers from other nations need to get in step with how we do things in the U.S. Answer: __________ 19. The storming stage of team development is characterized by: A. conflict and disagreement. B. orientation. C. establishment of order and cohesion. D. cooperation and problem solving. E. team unity and harmony. Answer: __________ 20. Idealism about future outcomes achieved through an organization’s people is often reflected in the broadly stated __________ created by the organization’s leaders. A. strategic plan B. mission statement C. employment contract D. architecture for alignment and implementation E. vision statement Answer: __________

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