UOP BUS210 All Weeks Knowledge Checks

BUS210 Foundations Of Business

Week 1 Knowledge Check

1.    What are the three components that make up a business system?

2.    Which term refers to the total money or assets of a business?

3.    Information technology, e-commerce, human resource management, and procurement are included in what type of value chain function in a business?

4.   Which of the following best describes a system through which goods or services are exchanged for capital with the aim of making a profit?

5.   Capital, land, enterprise, and labor are all costs associated with making and selling goods. What do they determine?

6.   Enterprise, as a main component of business, requires which of the following?

7.   In economics, what principle indicates the value placed on a productlessens as consumption increases?

8.   This is the point at which the supply of the product just meets the demand for it.

9.   What law shows that there is a direct relationship between the price of a product and the amount that is supplied in the market?

10.  What law refers to the tendency of people to buy more of a product when the price is lower and less of it when its price is higher?

11.  In general, the more a particular product is valued, the more it is demanded.Which is true in regard to this statement?

12.  What will most likely increase the demand for better quality goods and services?

13.  What is defined as the absolute monetary difference between sales revenues and operating costs?

14.  What equation correctly shows how profit is calculated?

15.  If a company were to have a total sales revenue of $50 and a total operating  cost of $37, what is the total profit?

16.  What measures how efficient a company uses its capital and resources to generate returns for its investors?

17.  Which equation correctly shows how to calculate profitability?

18.  Imagine Company A has a total profit of $40 million and that it invested $400 million in the course of a year. Company B has a total profit of $20 million and has invested $80 million over the course of the year. Which company has      the greater profitability?

19.  What defines a group of companies that have similar products and businessactivities?

20.  How does specialization assist a business in becoming more productive?

21.  What are the four productive resources that make a business possible?

 

BUS210 Foundations Of Business

Week 2 Knowledge Check

1.   Which of the following best describes limited liability as it relates to a business?

2.   What was the original purpose of the limited liability company?

3.   Which of the following businesses is the best example of when to set up a limited liability company in order to control financial risk of the stockholder(s)?

4.   Which of the following best describes a partnership?

5.   If a business partnership grows, what is usually added over time?

6.   Which of the following is the best example of a business partnership?

7.   Who assumes all liability for debt created in a sole proprietorship?

8.   Which of the following best describes a joint-stock company structure?

9.   Which of the following is the best advantage of a joint-stock company?

10.  What is the best way to raise funding for a joint-stock company?

11.  Which of the following examples best illustrates feudalism from the standpoint of business evolution?

12.  Which of the following examples best illustrates the mercantilism phase of business evolution?

13.  Which of the following examples best illustrates the capitalism phase of business evolution?

14.  Which of the following businesses best matches the definition of a sole proprietorship?

15.  What is an obstacle that entrepreneurs avoid by choosing to form a sole proprietorship?

 

BUS210 Foundations Of Business

Week 3 Knowledge Check

1.   Which of the following people or groups supply a company with productive resources and are affected by the way a company does business?

2.   Who has a claim on a company because they own shares?

3.   Important issues can arise concerning how and when payments are made to this group of stakeholders?

4.   Which of the following impact ethical practices in business at home and abroad?

5.   Which ACT prohibits U.S. companies from paying bribes in order to win contracts  abroad?

6.   There are several advantages a company can gain over its competition by  behaving in an ethical way. The main advantage is

7.   What rules can managers employ as guidelines to analyze the effects of their business decisions on stakeholders?

8.   This is the effect of unethical behavior on business commerce.

9.   The utilitarian rule bases a business decision on which of the following?

10.  Anti-trust legislation exists

11.  This Act was passed by congress to protect air quality and motivate companies to pollute less.

12.  Which law was enacted to force companies to more fully disclose their financial results and to protect stockholders of the company?

13.  This type of law exists to ensure that people have the skills they need to properly serve the public interest.

14.  Laws governing diversity endeavor to motivate employers to

15.  The U.S. Department of Labor Occupational Safety and Health Organization (OSHA) is the government agency primarily responsible for

16.  Which two types of laws have been enacted to promote a company’s continued existence and profitability?

17.  This is a process of dissolution of a business through which its assets are sold to repay its creditors.

18.  What is a copyright?

 

BUS210 Foundations Of Business

Week 4 Knowledge Check

1.   Which of the following best defines the entrepreneurship process?

2.   How do managers help the company’s stakeholders?

3.   What is a difference between an employee and a manager?

4.   Jones (2007) describes a three-stage business plan used by managers. Which of the following is one of the stages?

5.   When an entrepreneur uses advancing technology to find a new way to make or supply a product, the entrepreneur utilizes which of the following opportunities?

6.   Which answer contains the three types of entrepreneurial activities?

7.   Which example best describes an organizational opportunity?

8.   What is the primary role of a non-managerial employee?

9.   Which of the following best describes the employee “role”?

10. Which of the following best describes how an employee can increase his or her chances of being promoted inside an organization?

11. Which managerial function describes the process managers use to determine the best business model for the company?

12. Planning is typically performed by

13. Which is one of the three stages in planning?

14. What process do managers use to develop formal lines of authority that include task allocation?

15. Which of the following best describes organizational culture?

16. Which of the following best describes organizational structure?

17. Which of the following leadership terms refers to groups of managers pooling their human resources to leverage different perspectives and talent?

18. Leading involves being able to enlist others in the company vision and motivate them to accomplish organizational goals. Which of the following is required to effectively lead?

19. According to Jones (2007), how is leading defined relative to the four functions of management?

20. How is controlling defined relative to the four functions of management?

21. Which of the following types of action would be appropriate when a manager determines that a competitor’s process is more efficient?

22. What is the definition of a business plan?

23. When is a business plan developed?

24. What type of information is within a business plan?

25. What are the four elements of a SWOT analysis?

26. A detailed SWOT analysis would classify a well-developed and informed business model as a

27. A detailed SWOT analysis would classify a poorly designed marketing plan as a

28. A detailed SWOT analysis would classify competition in the industry or market as a

29. Higher level managers typically devote more time to which of the following efforts?

 

BUS210 Foundations Of Business

Week 5 Knowledge Check

1.     The main objective of the contingency theory of leadership is to choose  a leadership approach which matches the characteristics of the employees  and

2.     Based on the contingency theory of leadership, the leadership approach   a manager should choose is contingent on two factors. Which of the following is one of these factors?

3.     What work attitude would a leader promote to influence his or her worker?

4.     Which of the five sources of a leader’s power would be demonstrated by  a leader with rightful authority to direct and control an employee’s activities?

5.     What form of business communication offers the highest form of persuasive  communication?

6.     Which of the following in the best example of active listening?

7.     What political tactic is used by a manager that seeks to find partners, either  within or outside of his or her company, to achieve desired goals?

8.     What political tactic would a manager be using if they collected and  distributed accurate information to support the course of action for his or her team to use?

9.     Which approach to leadership would incorporate clear work rules and  procedures and link incentives directly to performance?

10.   Which of the four leadership approaches would incorporate employee involvement with scheduling and the daily operation?

11.   Which of the four leadership approaches would incorporate clear work rules and procedures and link incentives directly to performance?

12.   What form of business communication offers the least suitable form of  persuasive communication?

13.  What political tactic is used by a manager who has knowledge and expertise that no one else has?

 

BUS210 Foundations Of Business

Week 6 Knowledge Check

1.   What is the definition of a team?

2.   What are teams grouped by areas of expertise?

3.   A company who desires to develop new or improved products would fit best with what type of team?

4.   What does the amount of conflict in an organization signal?

5.   An organizational performance is increased with employees working in  teams since

6.   Managers can cause organizational dysfunction by doing which of the following?

7.   What best describes the contingency approach, as it relates to  organizational design?

8.   Organizational design is best defined as

9.   According to the goal-setting theory, job performance goals should

10.  The motivational theory that tries to determine how much work is needed  for a specific outcome is

11.  Being goal oriented has shown to be paramount to a person’s success. Why?

12.  Which of Maslow’s Hierarchy of Needs is geared toward personal fulfillment?

13.  Employees will most often be motivated to initially fulfill basic needs rather  than higher level needs. Which of the following satisfies a higher need?

14.  Maslow’s Need Theory is an hierarchal format that deals with ‘what’ is  important to individuals. Which of the following hierarchy most accurately reflects Maslow’s hierarchy?

15.  Which of the following best describes sources of a company’s culture?

16.  Which of the following best describes a company that has established  a professional culture?

17.  Employees quickly figure out and adopt the values and norms desired by their company. What is this process called?

18.  Which of the following best describes how the values of the company’s founder influence an organization?

19.  Companies with a strong culture may hold meetings to announce the  company’s achievements. Which source of company culture would best describe this activity?

20.  Formal events that recognize an employee or group that have benefited the company by their works are

21.  Company values are shared standards that employees use to

22.  What best describes company norms?

23.  Businesses often promote norms which are entrepreneurial or conservative in nature. Why?

24.  The Matrix Structure is a unique organizational structure that responds to  rapid changing situations. Which of the following is a component of this structural design?

25.  Which of the following could cause an individual to avoid performing a required job task according to expectancy theory?

26. Which theory tries to explain the psychological factors underlying why an individual selects a task and exerts effort in performing a task?

 

BUS210 Foundations Of Business

Week 8 Knowledge Check

1.  Which of the following costs is associated with a firms operations and materials management function?

2.  For what purpose do businesses consider establishing maquiladoras?

3.  According to Jones (2007), the semifinished goods and services that go through a company's production process are called

4.  According to Jones (2007), which type of operating system is designed to make unique or custom-made products?

5.  Which of the following is a key benefit of mass production operating systems?

6.  The operating system that combines both the benefits of customized products and low cost production is called

 

7.   Of the three stages in operation and materials management, which stage comes first?

8.   Some examples of elements in the operations stage of the operations andmaterial management process include

9.   Which of the following is the correct order of the operations and materialmanagement process?

10.  According to Jones (2007), the hardware and software components of a company's existing IT systems are called its

11.  In the history of modern computers, which of the following came first?

12.  In the 1990's, the Windows operating system, created by Microsoft, was installedin 90% of the worlds PCs. This kind of penetration in the personal computerbusiness made Windows the

13.  Which best describes e-commerce?

14.  Which best describes B2B commerce?

15.  Which of the following is software developed for business within the same industryto conduct trading?

16.  The combination of which two factors gives people the ability to better reactto the economic environment in which they function?

17.  One major result of organizational learning is

18.  According to Jones (2007), what attributes should information provided tomanagers have to be useful to the organization?

19.  Which of the following is a form of information that is constantly updated tomake sure that decisions can be as up-to-date as possible?

20.  Which of the following is one of the four major sources of competitive advantage  provided by information technology?

21.  Which of the following best explains how information technology improves   innovation in a company?

22.  Information technology improves customer responsiveness by

23.  Which of the following describes managers ability to use the collection and  analysis of data to gain information about various tasks and operations to increase the efficiency of a particular function?

24.  What is the major advantage of broadband technology?

25.  Which of the following best describes the result of information overload?

 

BUS210 Foundations Of Business

Week 9 Knowledge Check

What term best describes the buyers and sellers available for a particular product?

When looking at a demand curve for a particular product. The slope falls downward from left to right. This slope shows which of the following:

Marketing, operations, sales distribution, and customer service support are included in what functions of a business?

A detailed SWOT analysis would classify competition in the industry or market as a

A three stage business plan is used by managers. Which of the following is one of the stages?

Which component of the HRM system determines who is the best fit for the organization’s specific job requirements?

What leadership approach would a leader take if they were to combine a concern for the well-being of the employee with an approachable demeanor and attitude?