MGMT 1000 Midterm 2 Exam Questions
And Already Passed Answers.
Ethics - Answer Individual standards or moral values regarding what is right and wrong or good and bad
Business Ethics - Answer Ethical or unethical behaviours by a manager or employee of an organization.
Managerial Ethics - Answer Standards of behavior that guide individual managers in their work
Conflict of Interest - Answer Occurs when an activity benefits the employee at the expense of the
employer
Corporate Social Responsibility - Answer The idea that a business should balance its commitments to
individuals and groups that are directly affected by the organization's activities
Fair-Trade Movement - Answer A movement designed to help workers in developing countries receive
fair payments for their work
Organizational Stakeholders - Answer Groups, individuals, and organizations that are directly affected
by the practices of an organization and that therefore have a stake in its performance
Consumerism - Answer A social movement that seeks to protect and expand the rights of consumers in
their dealings with businesses
Whistle-Blower - Answer An individual who calls attention to an unethical, illegal, and/or socially
irresponsible practice on the part of a business or other organization
Insider Trading - Answer The use of confidential information to gain from the purchase or sale of stock
Pollution - Answer The introduction of harmful substances into the environment
, Recycling - Answer The reconversion of waste materials into useful products
Service Operations - Answer Production activities that yield tangible and intangible service products
Goods Production - Answer Production activities that yield tangible products
Utility - Answer The power of a product to satisfy human want; something of value
Operations Process - Answer A set of methods and technologies used to produce a good or a service
Operations (or Production) Management - Answer The systematic direction and control of the
processes that transform resources into finished goods and services
High-Contact System - Answer A system in which the service cannot be provided without the customer
being physically in the system (e.g., transit systems)
Low-Contact System - Answer A system in which the service can be provided without the customer
being physically in the system (e.g., lawn-care services)
Capacity - Answer The amount of a good a firm can produce under normal working conditions
Process Layout (Custom-Product Layout) - Answer A way of organizing production activities such that
equipment and people are grouped together according to their function
Product Layout - Answer A way of organizing production activities such that equipment and people are
set up to produce only one type of good
Assembly Line - Answer A type of product layout in which a partially finished product moves through a
plant on a conveyor belt or other equipment
And Already Passed Answers.
Ethics - Answer Individual standards or moral values regarding what is right and wrong or good and bad
Business Ethics - Answer Ethical or unethical behaviours by a manager or employee of an organization.
Managerial Ethics - Answer Standards of behavior that guide individual managers in their work
Conflict of Interest - Answer Occurs when an activity benefits the employee at the expense of the
employer
Corporate Social Responsibility - Answer The idea that a business should balance its commitments to
individuals and groups that are directly affected by the organization's activities
Fair-Trade Movement - Answer A movement designed to help workers in developing countries receive
fair payments for their work
Organizational Stakeholders - Answer Groups, individuals, and organizations that are directly affected
by the practices of an organization and that therefore have a stake in its performance
Consumerism - Answer A social movement that seeks to protect and expand the rights of consumers in
their dealings with businesses
Whistle-Blower - Answer An individual who calls attention to an unethical, illegal, and/or socially
irresponsible practice on the part of a business or other organization
Insider Trading - Answer The use of confidential information to gain from the purchase or sale of stock
Pollution - Answer The introduction of harmful substances into the environment
, Recycling - Answer The reconversion of waste materials into useful products
Service Operations - Answer Production activities that yield tangible and intangible service products
Goods Production - Answer Production activities that yield tangible products
Utility - Answer The power of a product to satisfy human want; something of value
Operations Process - Answer A set of methods and technologies used to produce a good or a service
Operations (or Production) Management - Answer The systematic direction and control of the
processes that transform resources into finished goods and services
High-Contact System - Answer A system in which the service cannot be provided without the customer
being physically in the system (e.g., transit systems)
Low-Contact System - Answer A system in which the service can be provided without the customer
being physically in the system (e.g., lawn-care services)
Capacity - Answer The amount of a good a firm can produce under normal working conditions
Process Layout (Custom-Product Layout) - Answer A way of organizing production activities such that
equipment and people are grouped together according to their function
Product Layout - Answer A way of organizing production activities such that equipment and people are
set up to produce only one type of good
Assembly Line - Answer A type of product layout in which a partially finished product moves through a
plant on a conveyor belt or other equipment
