BZ460 Lesson 1 Exam SCORE 100 PERCENT....HR

Question 1
Corrective action must be taken for a project when:
Question options:

the technical specifications have been met.

the actual cost of the activities is less than the funds received for the work completed.

actual progress to the planned progress shows the progress is ahead of schedule.

the actual progress is less than the planned progress.
Question 2
When establishing the project objectives, the objective must be agreed upon by the project:
Question options:

manager.

team.

sponsor.

supervisor.
Question 3
All the work involved with clearing a sidewalk after a heavy snow storm is an example of a project's:
Question options:

outline.

scope.

timetable.

schedule.
Question 4
The types and quantities of resources to be used for the activities are the base for the estimated project:
Question options:

duration.

cost.

budget.

risk.
Question 5
If a project team is contacted by a stakeholder about a concern related to their project, the project team should:
Question options:

share the concern with all the other stakeholders to see if they agree.

send a mass email to all stakeholders to let them know the project is on time and under budget.

communicate with the stakeholder individually to deal with the concern.

ignore the concern because one stakeholder is not important.
Question 6
The list that includes key contact information, role or specific topics of interest, expectations, any known issues, and areas of potential influence for each stakeholder is known as the:
Question options:

list of prior projects.

project technical specifications.

stakeholder register.

lessons learned list.
Question 7
Which of the following is NOT an example of a project?
Question options:

Raising money for a disaster relief trip

Creating a website for a company

Starting-up a restaurant

Emptying the recycling everyday
Question 8
__________ changes the dynamics of the project and adds a layer of complexity that can adversely affect the project outcome if the project participants are not aware of what they might encounter regarding cultural differences and multinational economic transactions.
Question options:

Estimated duration

Globalization

Risk

Staffing
Question 9
The project objective requires completing the project __________ and producing all the deliverables by a certain time and within budget.
Question options:

schedule

timetable

outline

work scope
Question 10
The project budget is based on:
Question options:

the costs to do the resources before any indirect costs.

the estimated costs associated with the quantities of resources to be used.

how well the project manager can use accounting software.

the actual costs of the resources used for the project.
Question 11
If a stakeholder has concerns about a project, the project team should:
Question options:

write letters to all the stakeholders to not worry about the project.

be proactive and contact the stakeholder.

wait for the stakeholder to contact the project manager about the concern.

prepare a defense for their project decisions.
Question 12
The stakeholder register is a convenient tool to keep:
Question options:

stakeholders at a distance from the project.

all stakeholder information consolidated and up-to-date.

lessons learned.

all communications open to all stakeholders.
Question 13
The amount of estimated resources helps to determine the estimated:
Question options:

risk.

budget.

duration.

project scope.
Question 14
All the activities in the baseline plan must be performed in accordance to the project schedule and:
Question options:

list of project expectations.

technical specifications.

stakeholder register.

lessons learned list.
Question 15
If the organization decides to use external resources (a contractor) to perform the project, the organization will prepare a document called __________ that defines the project requirements.
Question options:

baseline plan

a request for proposal

a project scope document

project technical specifications
Question 16
Projects are identified and selected in the __________ phase.
Question options:

performing

closing

initiating

planning
Question 17
A risk __________ plan must be developed that identifies and assesses potential risks, determines the likelihood of occurrence and potential impacts of risks, and delineates responses for dealing with risks.
Question options:

development

management

avoidance

mitigation
Question 18
Project documents are organized and archived in the __________ phase.
Question options:

closing

performing

initiating

planning
Question 19
The __________ for a project specifies when each task should start and finish.
Question options:

schedule

list of expectations

technical specifications document

register
Question 20
A person or organization responsible for each work item should be identified to assign responsibility while __________ the project.
Question options:

designing

budgeting

planning

estimating

BZ450 Week 6 Threaded Discussion....manement

What is a target market? Why is it important for a firm to choose its target market early in the process of launching its venture? Cite References in APA.

 

BZ450 Week 5 Threaded Discussion...management

What is the purpose of a forecast? What factors are used by a firm to create its forecasts of future income and expenses? Cite the textbook in APA format.

BZ450 Week 3 Threaded Discussion..fragmented industry

Describe the characteristics of a fragmented industry. What is the primary opportunity for new firms in fragmented industries. Insert page numbers in the body of your discussion and a list of References at the end in APA format.

BZ450 Week 1 Threaded DiscussionSpirit of Entrepreneurism

Provide a full analysis of the term 'Entrepreneur.'  Compare and contrast entrepreneur and business owner.  Explain the impact that positive economic conditions has on the Spirit of Entrepreneurism.

BZ450 Lesson 8 Exam SCORE 100 PERCENT....obj

Question 1        5 / 5 points
Shelby Collins owns a firm that designs and sells women's clothing. She is currently trying to grow her firm by developing new product lines. Shelby is pursuing a(n) ________ growth strategy.
Question options:

a)     in-house


b)     domestic


c)     internal


d)     external

Question 2        5 / 5 points
________ licensing is the licensing of proprietary technology that the licensor typically controls by virtue of a utility patent.
Question options:

a)     Skill


b)     Intellectual property


c)     Utility


d)     Technology

Question 3        5 / 5 points
Which of the following is an example of an external growth strategy?
Question options:

a)     New product development


b)     Mergers and acquisitions


c)     Market penetration


d)     Product line extension

Question 4        5 / 5 points
The ________ stage of the organizational life cycle is the startup phase, where a business determines what its core strengths and capabilities are and starts selling its initial product or service.
Question options:

a)     introduction


b)     launch


c)     ramp-up


d)     early growth

Question 5        5 / 5 points
Which of the following is an advantage of internal growth strategies?
Question options:

a)     Need to develop new resources


b)     Get quality and pricing right


c)     Investment in a failed internal effort can be difficult to recoup


d)     Provides maximum control

Question 6        5 / 5 points
________ means that as the number of employees a firm needs increases, it becomes increasingly difficult for it to find the right employees, place them in appropriate positions, and provide adequate supervision.
Question options:

a)     Difficult hazard


b)     Adverse hazard


c)     Adverse selection


d)     Moral selection

Question 7        5 / 5 points
If a business enhances the quality of a product, makes it more convenient to use, improves its durability, or makes it more up-to-date, any one of those initiatives fall under the category of:
Question options:

a)     increasing the market penetration of an existing product or service.


b)     extending product lines.


c)     geographic expansion.


d)     improving an existing product or service.

Question 8        5 / 5 points
________ costs are the costs a company incurs as it makes sales.
Question options:

a)     Static


b)     Irregular


c)     Balanced


d)     Variable

Question 9        5 / 5 points
Which of the following is a disadvantage of growth by means of external growth strategies?
Question options:

a)     Diversification of business risk


b)     Economies of scale


c)     Getting access to proprietary products or services


d)     Loss of organizational flexibility

Question 10        5 / 5 points
Internally generated growth is often called organic growth because it does not rely on:
Question options:

a)     outside intervention.


b)     its own skills and capabilities.


c)     external funding.


d)     internal leadership.

Question 11        5 / 5 points
Jack Wills owns a commercial nursery. Jack has more business than he wants, in fact, he is presently turning away exciting new business opportunities because it is expensive to hire new employees, and he knows that if he did hire new employees it would take time for the new employees to be trained and to be socialized into the culture of his firm. Jack's inability to take advantage of the new business opportunities that are coming his way is due largely to the ________ problem.
Question options:

a)     business aptitude


b)     entrepreneurial aptitude


c)     commercial opportunity


d)     managerial capacity

Question 12        5 / 5 points
Qualcomm, a high-tech company headquartered in San Diego, owns the rights to several of the key components that permit cell phones to work. Instead of selling cell phones itself, Qualcomm grants permission to many companies to use specific forms of its intellectual property in exchange for monetary compensation. Qualcomm is engaging in an external growth strategy referred to as:
Question options:

a)     licensing.


b)     strategic alliances.


c)     acquisitions.


d)     new product development.

Question 13        5 / 5 points
Which of the following is an example of an external growth strategy?
Question options:

a)     Geographic expansion


b)     Improving an existing product or service


c)     Increasing the market penetration of an existing product or service


d)     Strategic alliances

Question 14        5 / 5 points
________ means that as a firm grows and adds personnel, the new hires typically do not have the same ownership incentives as the original founders, so the new hires may not be as motivated as the founders to put in long hours or may even try to avoid hard work.
Question options:

a)     Difficult selection


b)     Adverse hazard


c)     Ethical selection


d)     Moral hazard

Question 15        5 / 5 points
Trevor Kimble owns a firm that sells products to the publishing industry. Trevor is currently evaluating a set of opportunities that he feels his firm is capable of pursuing. According to the text, Trevor is evaluating his firm's:
Question options:

a)     prolific potential.


b)     dynamic opportunity options.


c)     productive opportunity set.


d)     passionate opportunity set.

Question 16        5 / 5 points
__________ occurs when a firm holds the number one or the number two position in an industry or niche market in terms of sales volume.
Question options:

a)     Business scalability


b)     Economies of scale


c)     Reaching for scale


d)     Market leadership

Question 17        5 / 5 points
When a firm's managerial resources are insufficient to take advantage of its new product and service opportunities, the subsequent bottleneck is referred to as the ________ problem.
Question options:

a)     commercial capacity


b)     entrepreneurial aptitude


c)     managerial capacity


d)     business capacity

Question 18        5 / 5 points
New product development, other product-related strategies, and international expansion are examples of ________ growth strategies.
Question options:

a)     external


b)     domestic


c)     primary


d)     internal

Question 19        5 / 5 points
________ costs are costs that a company incurs whether it sells something or not.
Question options:

a)     Fixed


b)     Consistent


c)     Steady


d)     Variable

Question 20        5 / 5 points
Which mechanism for firm growth involves the creation and sale of new products or services?
Question options:

a)     Strategic alliances


b)     New product development


c)     Licensing


d)     Franchising

BZ450 Lesson 3 Exam SCORE 100 PERCENT....objective

Question 1        5 / 5 points
Terry Washington recently started a new firm in the financial services industry. Prior to starting his firm, he spent considerable time doing research on the potential of the industry. The research that Terry was doing is called a(n) ________ analysis.
Question options:

a)     industry


b)     sector


c)     commercial


d)     business

Question 2        5 / 5 points
In the beverage industry, soda, fruit juice, and sports drinks are ________ competitors of bottled water.
Question options:

a)     occasional


b)     infrequent


c)     indirect


d)     direct

Question 3        5 / 5 points
Which of Porter's five forces is most directly influenced by the number and balance of competitors, degree of difference between products, growth rate of an industry, and level of fixed costs?
Question options:

a)     Threat of new entrants


b)     Rivalry among existing firms


c)     Threat of substitutes


d)     Bargaining power of buyers

Question 4        5 / 5 points
In the context of competitor analysis, businesses that offer identical or similar products are referred to as ________competitors.
Question options:

a)     immediate


b)     direct


c)     indirect


d)     straight

Question 5        5 / 5 points
A(n) ________ business plan, which is intended to be a blueprint for a company's operations, is 40-100 pages long and is meant primarily for an internal audience.
Question options:

a)     operational


b)     full


c)     deliberate


d)     summary

Question 6        5 / 5 points
A(n) ________ industry is an industry that is experiencing significant international sales.
Question options:

a)     global


b)     mature


c)     fragmented


d)     declining

Question 7        5 / 5 points
Once a firm decides to enter an industry and chooses a market in which to compete, it must gain an understanding of its competitive environment. This challenge can be undertaken by completing a(n) ________ analysis.
Question options:

a)     business


b)     industry


c)     competitor


d)     strategic

Question 8        5 / 5 points
Melanie Summer spoke to an investor who is interested in her business idea. Melanie offered to send the investor a copy of her full business plan, but the investor asked for a short overview of the business plan instead. What portion of her business plan should Melanie send the investor?
Question options:

a)     Marketing plan


b)     Executive summary


c)     Elevator pitch


d)     Company description

Question 9        5 / 5 points
Industries that sell products to seniors, such as the eyeglass industry and the hearing aid industry, are benefiting from the aging of the population, which is an important ________ trend.
Question options:

a)     environmental


b)     business


c)     commerce


d)     competitive

Question 10        5 / 5 points
The two most common strategies pursued by firms in global industries are the ________ strategy and the ________ strategy.
Question options:

a)     inclusive; multidomestic


b)     multidomestic; global


c)     multidomestic; worldwide


d)     inclusive; global

Question 11        5 / 5 points
The price of prescription medicine is high, partly because when someone is sick there is no real alternative to buying medicine if they want to get better. Which of Porter's five forces explains how this aspect of the prescription medicine industry helps keep profitability high?
Question options:

a)     Rivalry among existing firms


b)     Threat of new entrants


c)     Threat of substitutes


d)     Bargaining power of buyers

Question 12        5 / 5 points
In the context of competitor analysis, ________ competitors offer close substitutes to the product sold by the firm completing the analysis.
Question options:

a)     potential


b)     direct


c)     indirect


d)     impending

Question 13        5 / 5 points
Opportunities for leadership, niche, harvest and divestment are associated with ________ industries.
Question options:

a)     mature


b)     emerging


c)     declining


d)     fragmented

Question 14        5 / 5 points
Which of Porter's five forces is most closely associated with the concept "barrier to entry"?
Question options:

a)     Bargaining power of suppliers


b)     Rivalry among existing firms


c)     Threat of new entrants


d)     Bargaining power of buyers

Question 15        5 / 5 points
A(n) ________ business plan, which is typically 25 to 35 pages long, works best for new ventures who are at the point where they need funding or financing.
Question options:

a)     tactical


b)     strategic


c)     summary


d)     full

Question 16        5 / 5 points
Many firms benefit from an increasing ability to outsource manufacturing or service functions to lower-cost foreign countries. This trend is referred to in the textbook as a(n) ________ trend.
Question options:

a)     business


b)     environmental


c)     commerce


d)     economic

Question 17        5 / 5 points
Which of the following is NOT one of the "red flags" listed in the textbook that raises questions about one of more aspects of a company's business plan?
Question options:

a)     Founders with none of their own money at risk


b)     Defining the market size too narrowly


c)     A poorly cited plan


d)     Sloppiness in any area

Question 18        5 / 5 points
Each quarter, Craig Anderson, who owns a chain of auto repair shops, does a detailed analysis of his firm's competitors. This analysis is called ________ analysis.
Question options:

a)     competitor


b)     challenger


c)     strategic


d)     participant

Question 19        5 / 5 points
Industry structure refers to how ________ an industry is.
Question options:

a)     concentrated or fragmented


b)     traditional or progressive


c)     innovative or conservative


d)     hierarchical or flat

Question 20        5 / 5 points
Which of the following is one of the "red flags" listed in the textbook that raises questions about one or more aspects of a company's business plan?
Question options:

a)     Takes several days or weeks to complete


b)     Founders that have their own money at risk


c)     Defining the market size too broadly


d)     Less than 50 pages long