BUSINESS

1.

The simplest form of business owned and operated by one person is called a(n)

A) franchise.

B) partnership.

C) S-corporation.

D) sole proprietorship.

E) syndicate.

2.

The company you work for recently has committed itself to implementing a program of social responsibility. After the company has gotten the commitment of top executives, planned the program, and appointed a program director, you suggest that a(n) ____ be prepared periodically to evaluate the success of the program.

A) social actions report

B) ethics evaluation

C) social audit

D) departmental memorandum

E) research report

3.

The leadership style advocating that a leader makes all decisions and tells subordinates what to do and how to do it is called

A) existential.

B) democratic.

C) participative.

D) autocratic.

E) consensus.

4.

An informal organization can be shown on a formal organization chart.

A) True

B) False

5.

All of the following are disadvantages of corporations except

A) perpetual life.

B) double taxation.

C) lack of secrecy.

D) expensive formation.

E) heavy government regulation.

6.

If a new company desires to departmentalize in a way that will simplify supervision and facilitate coordination, it will most likely departmentalize by

A) product.

B) worker skill level.

C) function.

D) customer.

E) location.

7.

An organization in which management consciously attempts to spread authority to the lower organizational levels is said to be centralized.

A) True

B) False

8.

The assignment of part of a manager’s work and authority to a worker is called

A) accountability.

B) responsibility.

C) authorization.

D) delegation.

E) relegation.

9.

What is probably the most effective way for a company to encourage ethical behavior?

A) Have ethics training sessions for interested employees.

B) Develop and enforce a written code of ethics for the organization.

C) Hire employees who are ethical and in agreement with the company’s views.

D) Post signs discouraging sexual harassment and discrimination.

E) Threaten employees with immediate termination for unethical behavior.

10.

A hostile takeover is a situation in which

A) the management and board of directors of the targeted firm disapprove of the proposed merger.

B) stockholders are paid a golden parachute.

C) the government makes the decision that the corporate raider can purchase the targeted firm.

D) the corporate raider receives a sum of money to leave the targeted firm alone.

E) the targeted firm is dismantled to avoid the merger.

11.

At Ledbetter Industries, employees are allowed one-hour lunches, but it has become common that most stroll back fifteen minutes late every day. The factor affecting the ethical behavior of Ledbetter’s employees is

A) individual.

B) opportunity.

C) social.

D) code of ethics.

E) whistle-blowing.

12.

When the management of a large grocery store heard that Walmart might be coming to town, they developed alternative courses of action they could take if their competitive landscape changed. What type of plan did they develop?

A) Objective

B) Operational

C) Tactical

D) Strategic

E) Contingency

13.

Organizations are comprised of:

A) People, structure, and goal-directed activity.

B) People, systems, input/output conversion dynamics, and the grapevine.

C) Systems, input/output conversion dynamics, and the grapevine.

D) People working with technology for the purpose of improving both organizational and individual quality of life.

14.

A system can only be as strong as weakest part.

A) True

B) False

15.

A benefit of job specialization is that it

A) is more difficult to design equipment.

B) is easier to train new employees.

C) eliminates boredom.

D) is more time-consuming to change from one operation to another.

E) enriches the job.

16.

The economic model of social responsibility places primary emphasis on

A) economic return.

B) conservation of natural resources.

C) active government involvement.

D) quality of life.

E) the balance of economic return and social return.

17.

An organization’s most important resource is its ____ resources.

A) technical

B) human

C) financial

D) material

E) information

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