Peregrine Exam Flashcards

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following is NOT a strategic alternative to laying off employees?

Mandating reduced hours

Downsizing the workforce

Lowering employment standards (correct)

Implementing a restricted hiring policy

What is KJ's break-even quantity?

173,310

The Marketing Concept today is about what?

Sales

Which of these is not a cash flow activity category in the Statement of cash flows?

Depreciating Signup and view all the answers

Which one of the following statements is false?

AFC = TFC divided by Q Signup and view all the answers

What explains how efficiently companies use their assets to generate revenue?

Asset Turnover Ratio Signup and view all the answers

What does the sum of the squares total (SST) measure?

Measures the variability in Y about the regression line. Signup and view all the answers

This strategy sacrifices responsiveness to local markets in favor of efficiency. What is it?

Global strategy Signup and view all the answers

What concept best describes Another Time Around's initiative?

Cause marketing Signup and view all the answers

Which function is LEAST likely to be an aspect of Lauren's job as an HR manager?

Product testing Signup and view all the answers

Local area networks (LANs) are used to _____?

Integrate services to a single building or campus. Signup and view all the answers

What practice is it when countries sell steel at lower prices in the U.S. market?

Dumping Signup and view all the answers

What is dumping considered?

The sale of an exported product at a price lower than that charged for a similar product in the home market. Signup and view all the answers

What is marginal revenue equal to?

The change in total revenue associated with a change in quantity. Signup and view all the answers

The primary purpose of employer branding is to ________.

Attract quality employees Signup and view all the answers

What describes the days required for a business to manage inventory and collect cash?

Operating cycle Signup and view all the answers

Which of the following statements is CORRECT?

Free cash flow (FCF) is essentially the cash flow that is available for interest and dividends after the company has made investments. Signup and view all the answers

The data component of an information system is:

A series of integrated files containing relevant facts. Signup and view all the answers

Another name for a decision table is a _____

Payoff table Signup and view all the answers

What will happen in the new automobile market with recent contract negotiations and driver increases?

Price will increase, and quantity will decrease. Signup and view all the answers

What is the advantage of foreign direct investment?

All of the above Signup and view all the answers

What is the contention for imposing tariffs when a foreign government assists its producers?

To counter foreign subsidies. Signup and view all the answers

On average, a manager should expect 1 interruption per hour.

False Signup and view all the answers

What is the amount of data transferred in one second called?

Bandwidth Signup and view all the answers

The principle of rational choice specifically states that you choose how to spend additional income based on what gives you:

The most marginal utility for that dollar. Signup and view all the answers

What kind of retailer is Outdoor World?

Destination retailing Signup and view all the answers

What type of power does Jack have to give bonuses to employees?

Reward power Signup and view all the answers

The rate of unemployment is calculated as the number of:

Unemployed divided by the number of people in the civilian labor force. Signup and view all the answers

Why does the construction worker refuse the fourth Big Mac?

Marginal utility declined as he consumed additional Big Macs. Signup and view all the answers

What is the best advice for George, a project manager experiencing stress?

Recognize your own limitations. Signup and view all the answers

Which of the following is a category or element of the balance sheet?

Liabilities Signup and view all the answers

What includes internal data sources in the context of an information system?

Personnel records Signup and view all the answers

According to the hot stove rule, disciplinary action should most likely occur immediately, so that the individual _____

Understand the reason for it. Signup and view all the answers

Which performs well at simple, repetitive tasks in AI applications?

Robots Signup and view all the answers

If interest rates fall, what will happen to the price of two bonds with different maturities?

Both will increase and the 10-year will increase more. Signup and view all the answers

What is any business activity that resorts to deceitful practices?

External Fraud Signup and view all the answers

Which of these actions would likely result in a lower current ratio?

Extending the time to pay suppliers. Signup and view all the answers

What part of segmentation do age, gender, and class year fall under?

Demographic Signup and view all the answers

What describes Ellen as a manager who is focused on scheduling and deadlines?

Delegating Signup and view all the answers

If a person were to use the expected monetary value criterion, what decision would be made based on the payoff table?

Alternative 3 Signup and view all the answers

In the long run, the price for a perfectly competitive firm will equal?

The minimum average total cost. Signup and view all the answers

Which strategy relies on the same brand names and core menu items but adapts to local tastes?

Transnational strategy Signup and view all the answers

What laws promote product safety and prohibit deceitful business practices?

Consumer protection Signup and view all the answers

What is the World Trade Organization (WTO)?

The only global international organization focused on negotiating the rules of trade between nations. Signup and view all the answers

Which of these is not a critical component in designing an advertising campaign?

Detailed product information Signup and view all the answers

In a relational database model, what matches the primary key column of another table?

Foreign key Signup and view all the answers

The ________ was intended to eliminate job discrimination based on various factors.

Fair Employment Practices Act Signup and view all the answers

Managers are always overall aggressive in estimating hiring requirements.

True Signup and view all the answers

Which of these is typically a characteristic of a sales promotion?

The consumer does not have to buy the product to benefit from the offer. Signup and view all the answers

A(n) _____ consists of programs that mimic human thought behavior.

Artificial intelligence system Signup and view all the answers

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.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

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.