QUESTION Describe perfect competition and give an example. What will be an ideal response? ANSWER In a perfectly competitive market, there are many sellers of virtually identical products. It is very easy to enter and exit this market and there are many buyers. Price is rarely used to differentiate product. The agriculture industry is […]
QUESTION Networking site are sources of potential candidates for an open position. Indicate whether the statement is true or false ANSWER TRUE
QUESTION When you are delegated responsibility for a particular facet of a project, be sure to ________. a. plan for each month because daily plans are unnecessary b. have the most up-to-date information c. not waste time worrying or anticipating problems d. answer every question, even if you do not have a particular figure or […]
QUESTION An organization’s culture consists of the attitudes, values, and norms shared by its members. Indicate whether the statement is true or false ANSWER TRUE
QUESTION The primary goal of the Six Sigma approach is for only 3.4 defects to occur per one million opportunities. Indicate whether the statement is true or false ANSWER TRUE
QUESTION Jack is the leader of a team in charge of developing a new marketing campaign for a sports drink. Which of the following represents the first step Jack and his team will likely take using the AIDA model? a. Get customers to want to buy the sports drink. b. Get customers to buy the […]
QUESTION What are the three levels of innovation? Give an example of each. What will be an ideal response? ANSWER Incremental innovation is a simple improvement in current products or services. An example is Word 7.0 . Disruptive innovation involves unprecedented products that transform an industry. An example is the cell phone. Revolutionary innovation […]
QUESTION Controlling is ultimately about monitoring all of the following EXCEPT ________. a. processes b. competitors c. employees d. procedures ANSWER b
QUESTION The International Organization for Standards (ISO) polices companies to ensure that their products are in line with ISO standards. Indicate whether the statement is true or false ANSWER FALSE
QUESTION A job description details the personal qualities the employer considers important for the position in question. Indicate whether the statement is true or false ANSWER FALSE
