Business Management and Administration Cluster (18-19) Questions and Answers 100% Accurate!!

1. Bailey knows that she has more knowledge about digital marketing than anyone else on her team. She is reluctant to share her knowledge because she wants to give herself an advantage. This is an example of how: - ANSWER-self-interest can prevent effective knowledge management. ** 2. Using computer-data backup procedures on a regular basis reduces a company's level of risk because the process - ANSWER-saves information when computer failures occur. ** 3. Which of the following do purchasing personnel try to obtain, along with the lowest possible price: - ANSWER-Quality ** 4. The owner of a business facility that has hazardous electrical wiring is likely to be fined for violating - ANSWER-local building codes. ** Which of the following is the most important factor to consider when prioritizing work tasks: - ANSWER-Due dates of tasks ** 6. Justine's rich uncle wants to give her $5,000 toward the purchase of a car. But since Justine doesn't plan to buy the car for at least another year, her uncle told her that she can have the money now, or he can wait and give her the money when she actually buys the car. Justine chooses to take the money now and deposit it in her savings account. After all, her deposit will yield 6% interest compounded annually. A year from now, her $5,000 will be worth $5,300. What financial concept does this scenario illustrate? - ANSWER-Time-value of money ** 7. An organization's product goals often involve setting standards for - ANSWER-the variety of its goods and services. ** Which of the following is a primary responsibility of the project manager during the execution phase of a project: - ANSWER-Keeping the project on track ** 9. What management function is responsible for coordinating resources in ways that maximize efficiency? - ANSWER-Organizing ** Which of the following is the sequential order of a project's work breakdown structure: - ANSWER-Work assignment, task, and subtask ** 11. Workers can demonstrate their honesty and integrity by giving a fair amount of ___________ for their pay. - ANSWER-effort ** 12. A trend currently impacting the business environment is the increased number of fathers who are directly involved in care giving for their children. This trend represents a change in - ANSWER-society and culture. ** 13. Corsica Steel Mill has developed a new process to reduce the time it takes to complete a phase of production. To legally protect this new process from unauthorized use, the company should obtain a - ANSWER-patent. ** 14. A customer asks Roger a question about a product, and he isn't sure of the correct answer. He immediately phones his supervisor to get the needed information. Which technique for building positive customer relations does this illustrate? - ANSWER-Be helpful. **