B. Function of Management
B. Function of Management
a. loss
b. no loss no gain
c. profit
d. liquidity
22.The plan that human resource personnel might develop for hiring a
sales force to sell a new
product the division has developed is called a:
a. operating plan.
b. business-level plan.
c. unit plan.
d. operating strategy.
23.The strategy concerned with deciding which industries a firm should
compete in and how the firm should enter or exit industries is a:
a. business-level strategy.
b. strategic plan.
c. operating strategy.
d. corporate-level strategy.
24.Plans that address unique events that do not reoccur are called:
a. standing plans.
b. single-use plans.
c. operating plans.
d. strategic plans
27.A firm with efficient internal operations and unique strengths to support
its low-cost position is likely operating on the:
a. efficiency frontier.
b. low-cost frontier.
c. differentiation curve.
d. low-cost cycle.
28. Which of the following actions does Wal-Mart take to lower its prices?
a. Wal-Mart invests in state-of-the-art information systems.
b. Sam Walton's stores are self-service.
c. Wa-Mart does all of the above to lower its prices.
d. Wal-Mart uses distribution centers.
29.For most business firms superior performance most likely means:
a. generating high profits and increasing profits over time.
b. providing flexible customer services.
c. giving back to the community.
d. having effective government relationships.
31.The extent to which assets are "working," generating income for the
organization is referred to as asset:
a. utilization.
b. income.
c. generation.
d. completion.
41.In the case of a business enterprise, the major goals at the top of the
organizational hierarchy are
a. revenue.
b. asset turnover.
c. expenses saved.
d. profitability.
50. During this stage of the team development model people tend to be
polite and will defer to the existing authority of a formal or informal leader.
a. performing
b. storming
c. norming
d. forming