MBA Semester 3 Exam Part I

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1. If a company bases its operation on religious perceptions, it is following the _________ law of that country.

A. civil

B. common

C. theocratic

D. economic

E. utilitarianism and Kantian ethics.

Answer: __________

2. If a company wishes to use its resources to specialize in the production of goods and services that are already productive and profitable, it is doing so to gain a/an __________ advantage.

A. absolute

B. acquired

C. comparative

D. natural

Answer: __________

3. When Company A controls a foreign operation rather than collaborating with a foreign business, it is called:

A. a franchise.

B. internalization.

C. a consortium.

D. a licensing agreement.

Answer: __________

4. Many governments have reduced restrictions on cross-border movements of goods, services, and capital, because they believe that this is good for consumers, producers, and the national economy. Opponents of this practice have failed to stop this type of trading. This type of cross-border movement is known as:

A. internationalization.

B. liberalization.

C. exporting.

D. importing. 

Answer: __________

5. A/an __________ sourcing strategy is one in which nominally independent suppliers work together to manage the flow of goods and services along the entire value-added chain.

A. horizontal integration

B. vertical integration

C. transmodel

D. arm’s length purchase

E. network

Answer: __________

6. A measure of the dispersion, or spread, of a distribution from its expected value is known as:

A. mean variance.

B. average deviation.

C. medium difference.

D. standard deviation.

Answer: __________

7. The two types of data that need to be collected during each reporting period are actual performance data and:

A. the cost performance index.

B. changes to the project scope, schedule, or budget.

C. the budgeted cost of the work performed.

D. the budgeted cost of the work scheduled.

Answer: __________

8. Generally speaking, an RFP offers one of two types of contracts to the winning bidder: __________ or ___________.

A. adjustable price; time and materials

B. fixed price; time and materials

C. fixed price; cost-reimbursement

D. adjustable price; cost- reimbursement

Answer: __________

9. A __________ is a popular network planning technique sometimes called a bar chart. It lists each task and the associated time scale.

A. Gantt Chart

B. PERT

C. Responsibility Matrix

D. Work Breakdown Structure

Answer: __________

10. __________ is a technique used in problem solving in which all members of a group contribute spontaneous ideas.

A. Mediation

B. Collaboration

C. Critical thinking

D. Brainstorming

Answer: __________

11. The two historical ethical theories that have permeated most business ethics discussions are:

A. utilitarianism and virtue ethics.

B. feminine ethics and rights theories.

C. Kantian ethics and common moral theory.

D. common moral theory and rights theories.

E. utilitarianism and Kantian ethics.

Answer: __________

12. When a corporation publishes a set of values and beliefs that both management and labor agree to, it establishes a:

A. union contract.

B. mission statement.

C. corporate culture.

D. employee handbook.

E. policy and procedure manual.

Answer: __________

13. A person takes technological information from work and adapts it for use in his own personal business outside the office. This is an example of:

A. utilitarianism.

B. Kantian ethics.

C. egoism.

D. relativism.

E. common moral theory.

Answer: __________

14. The two major ethical theories supporting issues in the right to privacy debate are:

A. relativism and virtue ethics.

B. feminine and equal rights ethics.

C. common moral theories and character ethics.

D. distributive justice and utilitarianism.

E. Kantian and utilitarian ethics.

15. Unwelcome sexual conduct that unreasonably interferes with work performance or creates an offensive work environment is known as _____ harassment.

A. harmful environment 

B. hostile environment 

C. quid pro quo 

D.  offensive 

Answer: _____________

16. What type of center should be used when a company is organized into divisions of separate product lines? 

A. Profit center

B. Expense center

C. Investment center

D. Revenue center

E. Standard cost center

Answer: __________

17. Instead of conducting traditional market research, a number of companies are:

A. simply following what the market leader does.

B. probing potential markets with early versions of new products to see which have  

potential.

C. developing new, much more sophisticated market research techniques which involve 

global testing.

D. forming alliances to pool their research findings.

Answer: __________

18. When public organizations are privatized, the trend is to have: 

A. clients pay a higher percentage of the costs.

B. clients pay a lower percentage of the costs.

C. clients apply for subsidies from the government

D. organizations solicit state agencies for more funding.

E. organizations sponsor fundraising events.

Answer: __________

19. All of the following ratios are used in the calculation of a company’s Z-value EXCEPT:

A. working capital/total assets.

B. retained earnings/total assets.

C. current assets/current liabilities.

D. market value of equity/total liabilities.

E. sales to total assets.

Answer: __________

20. The purchasing strategy in which the purchasing company orders a particular part from several vendors is:

A. sole sourcing.

B. multiple sourcing.

C. just-in-time sourcing.

D. backup sourcing.

E. parallel sourcing.

Answer: __________

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