McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Master of Business Administration (MBA) .
Chapters
| 1. |
An example of collecting primary data is; |
| A. | Observation |
| B. | Interviewing |
| C. | Focus groups |
| D. | All of the above |
| Answer» D. All of the above | |
| 2. |
An internal environmental variable. |
| A. | Financial resources |
| B. | Technology |
| C. | Industry demand |
| D. | The economy |
| Answer» A. Financial resources | |
| 3. |
What is a target market? |
| A. | A group of customers a venture reaches by accident. |
| B. | All consumers who purchase the venture's product. |
| C. | A specific group of potential customers toward which a venture aims its marketing plan. |
| D. | A chain of discount stores. |
| Answer» C. A specific group of potential customers toward which a venture aims its marketing plan. | |
| 4. |
Monitoring ___________ during the implementation of the marketing plan allows the entrepreneur to establish controls on the process. |
| A. | sales data |
| B. | research data |
| C. | consumer data |
| D. | none of the above |
| Answer» A. sales data | |
| 5. |
The ___________ of a marketing plan is sometimes dependent on the solvency of the organization. |
| A. | length |
| B. | success |
| C. | failure |
| D. | all of the above |
| Answer» C. failure | |
| 6. |
A product can include all of these except _______. |
| A. | price |
| B. | ideas |
| C. | people |
| D. | goods |
| Answer» A. price | |
| 7. |
______ refers to a quality of a service in which each time it is provided it will be slightly different from the previous time. |
| A. | Perishability |
| B. | Tangibility |
| C. | Heterogeneity |
| D. | Inseparability |
| Answer» C. Heterogeneity | |
| 8. |
A balanced combination of good and service is called a(n) |
| A. | Heterogeneous services. |
| B. | Hybrid products. |
| C. | Core products. |
| D. | Augmented products. |
| Answer» B. Hybrid products. | |
| 9. |
______ is the group of people on which a marketer focuses promotion and sales efforts. |
| A. | Me-too group |
| B. | Maturity group |
| C. | Target market |
| D. | Breakeven market |
| Answer» C. Target market | |
| 10. |
______, in the new product development process, is the stage that comes after idea generation. |
| A. | Product development |
| B. | Commercialization |
| C. | Idea evaluation |
| D. | Idea screening |
| Answer» D. Idea screening | |
| 11. |
The difference between the buying and selling price is called _____ and it should be enough to cover all fixed costs. |
| A. | psychological price |
| B. | breakeven |
| C. | mark-up |
| D. | elasticity |
| Answer» C. mark-up | |
| 12. |
A product for which there are few substitutes and for which a change in price has little effect on quantity purchased is considered __________. |
| A. | elastic |
| B. | inelastic |
| C. | marked-up |
| D. | elasticity |
| Answer» B. inelastic | |
| 13. |
Charging the highest price the market will bear is called which of these? |
| A. | Return pricing |
| B. | Psychological price |
| C. | Skimming |
| D. | Breakeven |
| Answer» C. Skimming | |
| 14. |
Setting a price that ends in the number 5, 7, or 9 is considered |
| A. | Return pricing |
| B. | Psychological price |
| C. | Skimming |
| D. | Odd even pricing |
| Answer» D. Odd even pricing | |
| 15. |
______ refers to setting the price for an item relatively low and then charging much higher prices for the expendables it uses. |
| A. | Prestige pricing |
| B. | Odd-even pricing |
| C. | Partitioned pricing |
| D. | Captive pricing |
| Answer» D. Captive pricing | |
| 16. |
Which of the following applies to organizations with 15 or more employees? |
| A. | The Civil Rights Act of 1991 |
| B. | COBRA |
| C. | ERISA |
| D. | Affirmative action |
| Answer» A. The Civil Rights Act of 1991 | |
| 17. |
Which of these is the first step in crafting a job description? |
| A. | Job overview |
| B. | Credentials and experience |
| C. | Duties and responsibilities |
| D. | Job title |
| Answer» D. Job title | |
| 18. |
______ is an area that Job analysis does NOT cover. |
| A. | The competitive pay required |
| B. | The mental and physical tasks involved |
| C. | The qualifications needed |
| D. | How the job will be done |
| Answer» A. The competitive pay required | |
| 19. |
Which of the following questions might give you insight into an applicant's career goals? |
| A. | Can you name some weaknesses? |
| B. | What motivates you most in a job? |
| C. | Did you work while going to school? |
| D. | Are you willing to work flextime? |
| Answer» D. Are you willing to work flextime? | |
| 20. |
When interviewing candidates, the questions asked should be seeking all of these EXCEPT ______. |
| A. | Specific and measurable responses |
| B. | Analytical answers |
| C. | Personal information |
| D. | Descriptive responses |
| Answer» C. Personal information | |
| 21. |
Which of these training is delivered to employees while they perform their regular jobs? |
| A. | Online |
| B. | On-the-job |
| C. | Paid |
| D. | Off-the-job |
| Answer» B. On-the-job | |
| 22. |
______ is NOT an on-the-job training method. |
| A. | Case studies |
| B. | Apprenticeships |
| C. | Coaching |
| D. | Orientations |
| Answer» A. Case studies | |
| 23. |
Which of these factors is most important to employees, according to Jill Kickul's research? |
| A. | Benefits |
| B. | Job security |
| C. | Rewards and opportunities |
| D. | Autonomy and growth |
| Answer» D. Autonomy and growth | |
| 24. |
______ refers to employees' beliefs about the promises between the employee and the firm. |
| A. | Open-book policy |
| B. | Autonomy |
| C. | Psychological contract |
| D. | Work facilitation |
| Answer» C. Psychological contract | |
| 25. |
A suggested guideline for training is |
| A. | Training should be provided at the initial stage of the employment only. |
| B. | Think of training as an investment. |
| C. | Employees should practice what they have learned on their own time. |
| D. | Have employees sign long-term contracts so they do not leave after receiving training. |
| Answer» B. Think of training as an investment. | |
| 26. |
Which of Kickul's factors, includes the psychological contract item, job training? |
| A. | Rewards and opportunities |
| B. | Job security and work responsibilities |
| C. | Work facilitation |
| D. | Autonomy and growth |
| Answer» A. Rewards and opportunities | |
| 27. |
A management philosophy of selecting and promoting people based on their being the most capable person for the job is considered which of the following? |
| A. | Nepotism |
| B. | Meritocracy |
| C. | Merit privilege |
| D. | Family practice |
| Answer» B. Meritocracy | |
| 28. |
The first step in the small business development process is: |
| A. | Planning |
| B. | Organizing |
| C. | Controlling |
| D. | Retaining |
| Answer» A. Planning | |
| 29. |
The tasks a new business owner must identify to develop a critical path analysis include: |
| A. | Number of hours the owner is involved |
| B. | Prerequisite tasks |
| C. | Who is responsible for the task |
| D. | All of the above |
| Answer» D. All of the above | |
| 30. |
The critical path chart is a living document that should be _________ during the process of actually accomplishing the tasks. |
| A. | Stopped |
| B. | Started |
| C. | Modified |
| D. | Evaluated |
| Answer» C. Modified | |
| 31. |
The location decision should address all of the _________ points required for your industry and should enhance the _________ points. |
| A. | Orthodox / unorthodox |
| B. | Unorthodox / orthodox |
| C. | Ordinary / unordinary |
| D. | Unordinary / ordinary |
| Answer» A. Orthodox / unorthodox | |
| 32. |
The _____________ describes attempts to sell current products to new customers. Product-customer exploitation strategy |
| A. | Product development strategy |
| B. | Customer development strategy |
| C. | Product-customer expansion |
| D. | none |
| Answer» A. Product development strategy | |
| 33. |
All of the following are signals of potential decline in organizational performance EXCEPT: |
| A. | Poor communication within the organization |
| B. | Intolerance of work incompetence |
| C. | Fear of conflict and taking risks |
| D. | Negative cash flow |
| Answer» D. Negative cash flow | |
| 34. |
________ is a common short-run strategy designed to address organizational weaknesses that are leading to performance declines. |
| A. | Retrenchment |
| B. | Turnaround |
| C. | Expansion |
| D. | Diversification |
| Answer» B. Turnaround | |
| 35. |
________ is a strategy designed for situations in which the organization's performance problems are very serious, as reflected by its performance measures. |
| A. | Retrenchment |
| B. | Turnaround |
| C. | Expansion |
| D. | Diversification |
| Answer» B. Turnaround | |
| 36. |
_______ is a radical redesign of the organization's business processes. |
| A. | Reengineering |
| B. | Downsizing |
| C. | Bankruptcy |
| D. | Expanding |
| Answer» A. Reengineering | |
| 37. |
Which of the following restructuring actions involves laying off employees from their jobs? |
| A. | Reengineering |
| B. | Downsizing |
| C. | Bankruptcy |
| D. | Expanding |
| Answer» B. Downsizing | |
| 38. |
______ involves dissolving or reorganizing a business under the protection of bankruptcy legislations. |
| A. | Reengineering |
| B. | Downsizing |
| C. | Bankruptcy |
| D. | Expansion |
| Answer» A. Reengineering | |
| 39. |
Valuation techniques generally fall into any of the following categories EXCEPT: |
| A. | Asset valuations |
| B. | Earnings valuations |
| C. | Cash flow valuation |
| D. | Depreciation valuation |
| Answer» B. Earnings valuations | |
| 40. |
Which of the following agencies was created specifically to foster the creation, growth, and expansion of minority-owned businesses in the United States? |
| A. | SCORE |
| B. | Minority Business Development Agency |
| C. | The World Trade Organization |
| D. | The Federal Reserve |
| Answer» D. The Federal Reserve | |
| 41. |
Entrepreneurships require financial backing in order to get started in the business world. Which of the following is not one of the methods commonly utilized to obtain the financial resources needed? |
| A. | Equity |
| B. | Commercial loans |
| C. | Personal finances provided by friends |
| D. | Venture capitalists |
| Answer» C. Personal finances provided by friends | |
| 42. |
_________ financing is raising money by selling part of the ownership of the business to investors. |
| A. | Debt |
| B. | Equity |
| C. | Venture capitalist |
| D. | Public offering |
| Answer» B. Equity | |
| 43. |
Of the following, which one would not be considered an alternative to independent entrepreneurship? |
| A. | Franchise |
| B. | Spin-off |
| C. | Intrapreneurship |
| D. | Extrapreneurship |
| Answer» D. Extrapreneurship | |
| 44. |
Of the following, which is best identified as an independent entrepreneurship that produces a product or service that originated in a large company? |
| A. | Diversification |
| B. | Intrapreneurship |
| C. | Trade-off |
| D. | Franchise |
| Answer» C. Trade-off | |
| 45. |
In franchising, the entrepreneur assumes fewer risks because the franchise provides all but which one of the following? |
| A. | Established market for the product |
| B. | Management assistance in operating the business |
| C. | Economies of scale for purchasing |
| D. | Oversale of rights |
| Answer» D. Oversale of rights | |
| 46. |
Which of the following is the reason for business failure __________. |
| A. | Lack of market research. |
| B. | Poor financial control. |
| C. | Poor management. |
| D. | All the above. |
| Answer» D. All the above. | |
| 47. |
Goods or services reach the market place through ________. |
| A. | marketing channels. |
| B. | multilevel pyramids. |
| C. | monopolies. |
| D. | multiplication. |
| Answer» C. monopolies. | |
| 48. |
To provide financial assistance to entrepreneurs the government has set up a number of___________. |
| A. | financial advisors. |
| B. | financial intermediaries. |
| C. | Industrial estates. |
| D. | financial institutions. |
| Answer» B. financial intermediaries. | |
| 49. |
State Industrial corporations engage in the development of__________. |
| A. | industrial estates. |
| B. | institutional estates. |
| C. | individual investors. |
| D. | agricultural entrepreneurs |
| Answer» D. agricultural entrepreneurs | |
| 50. |
Competitor analysis begins with: |
| A. | Gathering samples of the competitors’ product(s). |
| B. | Discovering each competitors advertising budget. |
| C. | Documenting the current strategy of each primary competitor. |
| D. | Identifying which competitors are most successful. |
| Answer» C. Documenting the current strategy of each primary competitor. | |
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