ETS- Management Real Exam Prep Questions And Correct Answers With Detailed Rationales.

Which of the following managerial discoveries led to the thinking that quality of working conditions and social aspects produce higher quality output and reflects quality supervision? A.) Six Sigma B.) Total Quality Management C.) The Hawthorne Experiments D.) Just In Time Manufacturing - correct answer C.) The Hawthorne Experiments Patagonia states that it will build the best products, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis. This statement is most likely a: A.) Business Objective B.) Value Statement C.) Mission Statement D.) Business Plan - correct answer C.) Mission Statement The end result of this process is 3.4 or fewer defects for every one million opportunities: A.) Quality Circle B.) Kaizen Event C.) Six Sigma D.) Bayesian Model - correct answer C.) Six Sigma John was having fun with the nail gun at work. Unfortunately, he had a little bit too much fun and accidentally nailed his left foot to the shop floor. John will be out of work for the next month recovering. Which legally required benefit will provide him money during his recovery? A.) Sick Day Pay B.) Health Insurance C.) Short-Term Disability D.) Worker's Compensation - correct answer D.) Worker's Compensation Mary had always aspired to be the owner of her own bakery. When she turned 30, she finally pulled the trigger and established a small bakery in a suburban town. As her business grew in size over the first 3 years, she became unable to handle the orders that would come in and would never really trust the people that she hired to take initiative. Ultimately, she needed to scale back and remain small. Which of the following common entrepreneurial downfalls did Mary experience? A.) Delay in training a successor B.) Failure to monitor financial performance C.) Failure to delegate authority D.) Underestimating the demands of consumers - correct answer C.) Failure to delegate authority Groupthink can be combatted in which of the following ways? A.) team leader could withhold his or her viewpoint during team discussion B.) team members could engage in cohesiveness- building training C.) the devil's advocate role could be assigned to a specific team member D.) both a and c - correct answer D.) both a and c Which of the following statements about heterogeneous and homogeneous groups are true: A.) Homogeneous groups work better than heterogeneous groups. B.) Homogeneous groups take longer to build cohesiveness. C.) Heterogeneous groups can function better than homogeneous groups, but take longer to build cohesiveness. D.) Homogeneous groups can function better than heterogeneous groups, but take longer to build cohesiveness. - correct answer C.) Heterogeneous groups can function better than homogeneous groups, but take longer to build cohesiveness. Which of the following approaches to moral decisions focuses on outcomes and consequences rather than inputs and antecedents? A.) Justice Approach B.) Common-Good Approach C.) Rights Approach D.) Utilitarian Approach - correct answer D.) Utilitarian Approach Which of the following would measure the effectiveness of a strategic decision? A.) The achievement of consensus by stakeholders. B.) The extent to which objectives are achieved. C.) The assimilation of the decision to the key employees. D.) The acceptance of the decision by members of the community. - correct answer B.) The extent to which objectives are achieved. Which of the following statements regarding Corporate Social Responsibility is true? A.) CSR refers to the idea that businesspeople should consider the social consequences of economic actions when making business decisions. B.) Proactive CSR strategies deal with the legal requirements necessary to operate within a given geographic jurisdiction. C.) Reactive CSR strategies consider the triple bottom line in critical decisions made by a firm's board of directors when launching new capital programs. D.) CSR and Sustainability are synonymous concepts dealing with business ethics. - correct answer A.) CSR refers to the idea that businesspeople should consider the social consequences of economic actions when making business decisions. The Leader-Member Exchange Theory would support which of the following statements: A.) Trust is the most important value in a leader and subordinate relationship B.) Out-Group members should be given the opportunity to become in-group members C.) Managers should never categorize their employees into in-group and out-group members D.) The LMX theory is concerned with selecting the most effective supply chain members - correct answer B.) Out-Group members should be given the opportunity to become in-group members Which of the following types of leaderships engenders trust, seeks to develop leadership in others, exhibits self-sacrifice and serves as a moral agent? A.) Trait leadership B.) Servant leadership C.) Contingency leadership D.) Path-goal leadership - correct answer B.) Servant leadership Which of the following activities have been associated with high performing team? A.) Allocation financial resources B.) Sharing responsibility C.) Having a strong leader D.) Aligning group norms - correct answer B.) Sharing responsibility Which of the following is true about perfect competition? A.) marginal costs approach or reach output price B.) few strong competitors hold the majority of market share C.) barriers to entry are high in this market structure D.) a singular firm controls the industry prices - correct answer A.) marginal costs approach or reach output price Which of the following is true about oligopolies? A.) There are many competitors, so collusion is not possible. B.) They can earn normal profits because of low barriers to entry. C.) They can focus exclusively on non-price competition. D.) They do competitive analyses to respond to rival efforts. - correct answer D.) They do competitive analyses to respond to rival efforts. It is difficult to maintain consistent quality in services because: A.) services are nonperishable. B.) as opposed to products, services are tangible in nature. C.) variability is reduced as more humans are involved in delivery. D.) the service provider deals directly with the customer and often has to interpret each customer's needs. - correct answer D.) the service provider deals direct