Podcast
Questions and Answers
Which of the following is NOT a strategic alternative to laying off employees?
Which of the following is NOT a strategic alternative to laying off employees?
What is KJ's break-even quantity?
What is KJ's break-even quantity?
173,310
The Marketing Concept today is about what?
The Marketing Concept today is about what?
Sales
Which of these is not a cash flow activity category in the Statement of cash flows?
Which of these is not a cash flow activity category in the Statement of cash flows?
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Which one of the following statements is false?
Which one of the following statements is false?
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What explains how efficiently companies use their assets to generate revenue?
What explains how efficiently companies use their assets to generate revenue?
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What does the sum of the squares total (SST) measure?
What does the sum of the squares total (SST) measure?
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This strategy sacrifices responsiveness to local markets in favor of efficiency. What is it?
This strategy sacrifices responsiveness to local markets in favor of efficiency. What is it?
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What concept best describes Another Time Around's initiative?
What concept best describes Another Time Around's initiative?
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Which function is LEAST likely to be an aspect of Lauren's job as an HR manager?
Which function is LEAST likely to be an aspect of Lauren's job as an HR manager?
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Local area networks (LANs) are used to _____?
Local area networks (LANs) are used to _____?
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What practice is it when countries sell steel at lower prices in the U.S. market?
What practice is it when countries sell steel at lower prices in the U.S. market?
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What is dumping considered?
What is dumping considered?
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What is marginal revenue equal to?
What is marginal revenue equal to?
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The primary purpose of employer branding is to ________.
The primary purpose of employer branding is to ________.
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What describes the days required for a business to manage inventory and collect cash?
What describes the days required for a business to manage inventory and collect cash?
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Which of the following statements is CORRECT?
Which of the following statements is CORRECT?
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The data component of an information system is:
The data component of an information system is:
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Another name for a decision table is a _____
Another name for a decision table is a _____
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What will happen in the new automobile market with recent contract negotiations and driver increases?
What will happen in the new automobile market with recent contract negotiations and driver increases?
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What is the advantage of foreign direct investment?
What is the advantage of foreign direct investment?
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What is the contention for imposing tariffs when a foreign government assists its producers?
What is the contention for imposing tariffs when a foreign government assists its producers?
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On average, a manager should expect 1 interruption per hour.
On average, a manager should expect 1 interruption per hour.
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What is the amount of data transferred in one second called?
What is the amount of data transferred in one second called?
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The principle of rational choice specifically states that you choose how to spend additional income based on what gives you:
The principle of rational choice specifically states that you choose how to spend additional income based on what gives you:
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What kind of retailer is Outdoor World?
What kind of retailer is Outdoor World?
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What type of power does Jack have to give bonuses to employees?
What type of power does Jack have to give bonuses to employees?
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The rate of unemployment is calculated as the number of:
The rate of unemployment is calculated as the number of:
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Why does the construction worker refuse the fourth Big Mac?
Why does the construction worker refuse the fourth Big Mac?
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What is the best advice for George, a project manager experiencing stress?
What is the best advice for George, a project manager experiencing stress?
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Which of the following is a category or element of the balance sheet?
Which of the following is a category or element of the balance sheet?
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What includes internal data sources in the context of an information system?
What includes internal data sources in the context of an information system?
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According to the hot stove rule, disciplinary action should most likely occur immediately, so that the individual _____
According to the hot stove rule, disciplinary action should most likely occur immediately, so that the individual _____
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Which performs well at simple, repetitive tasks in AI applications?
Which performs well at simple, repetitive tasks in AI applications?
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If interest rates fall, what will happen to the price of two bonds with different maturities?
If interest rates fall, what will happen to the price of two bonds with different maturities?
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What is any business activity that resorts to deceitful practices?
What is any business activity that resorts to deceitful practices?
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Which of these actions would likely result in a lower current ratio?
Which of these actions would likely result in a lower current ratio?
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What part of segmentation do age, gender, and class year fall under?
What part of segmentation do age, gender, and class year fall under?
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What describes Ellen as a manager who is focused on scheduling and deadlines?
What describes Ellen as a manager who is focused on scheduling and deadlines?
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If a person were to use the expected monetary value criterion, what decision would be made based on the payoff table?
If a person were to use the expected monetary value criterion, what decision would be made based on the payoff table?
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In the long run, the price for a perfectly competitive firm will equal?
In the long run, the price for a perfectly competitive firm will equal?
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Which strategy relies on the same brand names and core menu items but adapts to local tastes?
Which strategy relies on the same brand names and core menu items but adapts to local tastes?
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What laws promote product safety and prohibit deceitful business practices?
What laws promote product safety and prohibit deceitful business practices?
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What is the World Trade Organization (WTO)?
What is the World Trade Organization (WTO)?
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Which of these is not a critical component in designing an advertising campaign?
Which of these is not a critical component in designing an advertising campaign?
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In a relational database model, what matches the primary key column of another table?
In a relational database model, what matches the primary key column of another table?
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The ________ was intended to eliminate job discrimination based on various factors.
The ________ was intended to eliminate job discrimination based on various factors.
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Managers are always overall aggressive in estimating hiring requirements.
Managers are always overall aggressive in estimating hiring requirements.
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Which of these is typically a characteristic of a sales promotion?
Which of these is typically a characteristic of a sales promotion?
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A(n) _____ consists of programs that mimic human thought behavior.
A(n) _____ consists of programs that mimic human thought behavior.
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Study Notes
Strategic Alternatives
- Lowering employment standards is NOT a strategy to avoid layoffs.
- Alternatives include restricted hiring, downsizing, and mandating reduced hours.
Break-Even Analysis
- KJ's taco truck requires selling 173,310 tacos to break even based on costs and selling price.
Marketing Focus
- The modern Marketing Concept emphasizes sales and developing relationships over aggressive advertising or pricing strategies.
Cash Flow Categories
- The Statement of Cash Flows categorizes cash flow activities into operating, investing, and financing, excluding depreciating.
Financial Metrics
- Total Average Cost (ATC) is calculated with ATC = AFC + AVC; however, AFC is NOT calculated by dividing TFC by Q.
Performance Efficiency
- The Asset Turnover Ratio indicates how effectively a company uses its assets to generate revenue.
Statistical Measures
- The Sum of Squares Total (SST) measures the variability in Y around the regression line.
Global Strategy
- A Global strategy prioritizes efficiency over responsiveness to local markets, exemplified by Microsoft's standardized software offerings.
Cause Marketing
- Initiatives like "Another Time Around" illustrate cause marketing, helping youth monetize products for educational expenses.
HR Management Role
- In a marketing firm, product testing is the least likely function of an HR manager.
Networking
- Local Area Networks (LANs) integrate services within a single building or campus, connecting geographically close computers.
Trade Practices
- Dumping refers to selling products in a foreign market at lower prices than in the exporter's home market.
Marginal Revenue
- Marginal revenue indicates the change in total revenue resulting from a change in quantity sold.
Employer Branding
- The primary goal of employer branding is attracting quality employees through promoting company culture and perks.
Operating Cycle
- The operating cycle includes the days taken to receive inventory, sell it, and collect cash from sales.
Financial Statements
- Correct interpretations of income statements include understanding free cash flow and its relation to net income.
Data in Information Systems
- Integrated files containing relevant facts comprise the data component of an information system.
Decision Tables
- A decision table is also known as a payoff table, used for analyzing different outcomes based on various decisions.
Market Dynamics
- In the automobile market, increased demand and higher labor costs lead to rising prices and an uncertain effect on quantity sold.
Foreign Direct Investment
- Foreign direct investment creates tailored solutions for specific markets, reducing costs and enhancing competitive advantage.
Tariff Justifications
- The rationale for imposing tariffs based on foreign subsidies ties back to the infant industry argument.
Probability and Expectations
- The average number of interruptions per hour should not be simply calculated from given probabilities, leading to the conclusion being false.
Data Transmission
- Bandwidth refers to the amount of data transferable within one second.
Rational Choice Theory
- The principle of rational choice emphasizes maximizing marginal utility when spending additional income.
Destination Retailing
- Outdoor World, featuring diverse offerings for hunters and fishermen, exemplifies a destination retailing approach.
Sources of Power
- Reward power is exemplified by the authority to grant bonuses based on employee performance.
Unemployment Calculation
- The unemployment rate is calculated by dividing the number of unemployed by the civilian labor force size.
Utility in Consumption
- The construction worker's decision to decline a free fourth Big Mac is based on the diminishing marginal utility of additional consumption.
Stress Management Advice
- HR managers might advise recognizing limitations as a way to cope with work-related stress.
Balance Sheet Components
- Liabilities are a core element recorded in a company’s balance sheet.
Internal Data Sources
- Personnel records qualify as an internal data source within an information system.
Effective Disciplinary Action
- Immediate disciplinary actions help individuals understand the reason behind the consequences, following the hot stove rule.
Applications of AI
- Robots effectively handle repetitive tasks, benefiting industries by reducing the burden on human workers.
Bond Pricing
- Long-term bonds are more sensitive to interest rate changes, resulting in a greater price increase for those maturing in ten years compared to five.
Fraud Definition
- External fraud encompasses deceptive practices aimed at causing economic injury to another party.
Current Ratio Influencers
- Extending supplier payment terms generally leads to a lower current ratio for businesses.
Market Segmentation
- Factors such as age, gender, and class year in a persona profile illustrate demographic segmentation.
Management Style
- Ellen’s management traits align with strong directive behaviors, focusing on scheduling and setting clear performance standards.
Expected Monetary Value
- Analysis of the provided payoff table leads to selecting Alternative 3 based on expected monetary value.
Competitive Market Pricing
- In perfect competition, prices converge to the minimum average total cost in the long run.
Transnational Strategy
- Transnational strategies allow adaptation to local tastes while maintaining core brand consistency, seen in fast-food chains.
Consumer Protection Laws
- Consumer protection statutes regulate product safety and prevent unfair business practices.
WTO Purpose
- The World Trade Organization (WTO) serves as a global body for negotiating and regulating international trade agreements.
Advertising Campaign Components
- Detailed product information is not considered a critical element in designing an effective advertising campaign.
Relational Databases
- In a relational database, a foreign key links records across different tables, ensuring relational integrity.
Discrimination Legislation
- The Title VII of the Civil Rights Act of 1964 aims to eliminate job discrimination based on various identified characteristics.
Forecasting Shortcomings
- Managers’ overconfidence in estimating hiring needs is often a perceived shortcoming in judgment for forecasting.
Sales Promotion Characteristics
- Sales promotions typically allow consumers to benefit without requiring purchase of the product.
AI Systems
- Artificial intelligence systems replicate human thought in specialized areas where experts have previously succeeded.
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Description
This quiz contains flashcards for the Peregrine exam, focusing on strategic alternatives to layoffs and a taco truck business scenario. Test your knowledge on strategic management concepts and practical business applications. Ideal for students preparing for managerial decision-making assessments.
