Question 1. Question : Costco has been successful in part due to its unique approach to

1. Question : Costco has been successful in part due to its unique approach to staffing. Which of the following statements correctly explains its approach in this area?
Student Answer: Costco promotes employees with in-store experience and sponsors them to take graduate-level business courses.
Costco hires only managers who have worked for its competitors.

Costco holds employees’ jobs while they pursue business school degrees on their own.
Costco hires business school graduates directly out of college.

Question 2. Question : ________ is/are an example of a recession-sensitive industry, while ________ is/are an example of a recession-proof industry.
Student Answer: toiletries; construction

auto parts; air travel

air travel; toiletries

toiletries; auto parts

Question 3. Question : Which of the following expressions most closely captures the essence of a strategic business unit?
Student Answer: “the lifeblood of a company”

“a company within a company”

“the heart of a company”

“the future of a company”

Question 4. Question : Howard is the CEO of Run! Jump! Sing!, a chain of indoor play gyms for toddlers and preschoolers. After repeatedly hearing from gym staff that several children have been hurt in the bounce house play area, Howard decides to remove all bounce houses from Run! Jump! Sing! establishments. What kind of assessment is this most likely described as?
Student Answer: strategic assessment

tactical/functional assessment

operational assessment

external environmental assessment

Question 5. Question : Diehard Sneakers’ quality control team analyzes how often their product is returned because of defects. What kind of assessment is this?
Student Answer: strategic assessment

tactical/functional assessment

operational assessment

external environmental assessment

Question 6. Question : Which of the following is NOT considered an influential social trend?
Student Answer: educational disparity

recession

gender expectations

family size

Question 7. Question : Before establishing her own dentist office, Dr. Thorton evaluates other dentist services in the area. What element of a SWOT analysis would other dentist services most closely represent?
Student Answer: strength

opportunity

threat

weakness

Question 8. Question : All of the following are considered noncontrollable forces EXCEPT
Student Answer: social trends

technological changes

local communities

political forces

Question 9. Question : Which of the following lists correctly identifies the five management functions?
Student Answer: organizing, staffing, leading, controlling, and financing

planning, organizing, staffing, leading, and controlling

planning, organizing, staffing, leading, and financing

planning, staffing, leading, controlling, and budgeting

Question 10. Question : Which of the following is NOT a characteristic of organization?
Student Answer: All organizations need at least one member.

All organizations have a hierarchy of authority.

All organizations divide tasks among their members.

All the members of an organization share a common purpose or goal.

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