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ANSWERS
MGT
521 Final Exam
1) John writes a memo to his
employees. Putting his thoughts onto paper is an example of
2) Chantel received an invitation to
a web meeting that will take place at 3:00 p.m. She accepted the invitation.
This is an example of
3) You are doing research on
political issues and find that you are on a conservative leaning site. What
type of source credibility issue is this?
4) When reviewing an educational
math website, you find the author’s background is in English. What type of
source credibility issue is this?
5) A famous ice cream manufacturer
sent workers to a nearby grocery store to offer shoppers a sample of its new
flavor. The workers provided samples to 300 shoppers and noted that 80% of the
sample population stated they liked the flavor. Based on this scenario, which
of the following is an example of an inference?
6) Persuading or convincing others
to accept your argument means the reasoning must be logical. Which of the
following is an example of logical flaws or fallacies?
7) What is the best way for the CEO
to deal with managers in key positions who continue to resist a major change?
8) Finding a win-win solution that
allows parties who are involved to have their goals achieved is an example of
9) What is emphasized more in
ethical leadership theories than in transformational leadership?
10) Ethical behavior and integrity
for a leader is most likely to result in
11) A common characteristic of most
entrepreneurs is that they
12) In order to make an intelligent
investment decision, entrepreneurs should
13) The customers, employees,
stockholders, suppliers, creditors, and others who stand to gain or lose by the
policies and activities of a business represent the firm`s
14) When a firm makes use of the
SWOT analysis, one of its objectives is to
15) The process of rating an
organization`s practices, processes, and products against the best of the world
is known as
16) Companies benefit today by
inter-firm cooperation. One of the ways they cooperate is through networking. MGT/521
Final Exam. Another way is by seeking technological knowledge and learning new
processes from other firms that usually fall outside of their respective
industries. We call this
MGT521 Final Exam
17) An important difference between
accounting and other business functions, such as marketing and management, is
that
18) Although accounting has several
specific uses, the overall purpose of accounting can be summarized as
19) An important advantage that
knowledge technology has over older versions of business technology is that it
20) First Engineering, a large U.S. based
mechanical engineering firm, is considering entering the global market. MGT 521
Week 5 Final. Upon careful analysis of the global market, they will find that
global trade
21) The process of setting up
individual functional units of the business to do specialized tasks is called
22) The proven success of job
specialization lies in the fact that
23) Economics is the study of how a
society
A. invests wisely in the stock
market
24) How is it that people working in
their own self-interest produce goods, services, and wealth for others?
25) The ultimate resource of a firm
is its
27. Which of the following is
included in performing a business analysis?
28. When the competition is intense
and the environment is changing rapidly, it is especially important to
29. Which of the following would be
a concern addressed in a strategic plan?
30. Tactical planning is concerned
with
MGT 521 Final Exam
