T​‌‍‍‍‌‍‍‌‌‍‌‍‍‌‌‌‍‍‍‍​he test has 5 major assessment indicators: Marketing, Management, Finance, Managerial Accounting and Strategic Integration. MARKETING 1. One of the advantages of corporate retailing is that corporate retail organizations achieve economies of scale, greater purchasing power, better-trained employees, and ________. a. wider brand recognition b. more locations c. branded merchandise d. “fresh” merchandise e. more advertising 2. An independent retailer using a central buying organization and joint promotion efforts is known as a ________. a. corporate chain store b. voluntary chain c. retailer cooperative d. merchandising conglomerate e. franchise organization 3. The internal records system supplies results data, but the marketing intelligence system supplies ________ data. a. concurrent b. secondary c. research d. happenings e. premium 4. A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment. a. marketing research system b. marketing information system c. product management system d. marketing intelligence system e. vertical system 5. A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors’ published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence. a. sales force surrogates b. intermediaries c. external networks d. advisory panels e. customer feedback systems 6. Other media for direct-response marketing includes television. Television is used by direct marketers in conducting or producing “infomercials,” videotext and interactive TV, and ________. a. ad campaigns b. direct response c. at-home shopping channels d. commercials e. kiosks 7. The exchange process in the age of information has become increasingly customer-initiated and ________. a. market specific b. customer-controlled c. marketer-orientated d. private e. marketer-controlled 8. The Internet provides marketers and consumers with opportunities for much greater interaction and ________. a. ease of use b. speed c. specificity d. convenience e. individualization 9. We can say that a ________ has three characteristics: (1) It is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits, (2) it has applications in a wide variety of markets, and (3) it is difficult for competitors to imitate. a. core competency b. business strategy c. core technology d. strategic business unit e. winning strategy 10. Core competencies tend to refer to areas of special technical and production expertise, where ________ tend to describe excellence in broader business processes. a. process benchmarks b. distinctive capabilities c. core business values d. value statements e. mission statements 11. George Day sees market-driven organizations as excelling in three distinctive capabilities: ________, customer linking, and channel bonding. a. target marketing b. market research c. fulfilling customer needs d. market sensing e. customer service relationships 12. Competitors find it hard to imitate companies such as Southwest Airlines, Dell, or IKEA because they are unable to copy their ________. a. product innovations b. distribution strategy c. pricing policies d. activity systems e. logistics system 13. One conception of holistic marketing views it as “integrating the value exploration, ________, and value delivery activities with the purpose of building long-term, mutually satisfying relationships and co-prosperity among key stakeholders.” a. value creation b. value proposition c. value management d. value research e. value chain 14. Red Bull has gained ________ of the worldwide energy drink market by skillfully connecting with global youth. a. 70 percent b. 80 percent c. 60 percent d. 50 percent e. 90 percent 15. Red Bull built buzz about the product through its ________. a. “buzz marketing program” b. “in program” c. “marketing program” d. “seeding program” e. “advertising campaign” 16. A global industry is defined as ________. a. an industry in which the strategic positions of competitors are fundamentally affected by their overall global positions b. an industry that operates in more than one country and captures R&D, marketing, and other financial advantages in its costs and reputation. c. an industry that operates in more than one country and has a strategic position in many countries d. a firm that operates in more than one country and has a sales and marketing staff in those countries e. an industry that has strategic positions in many countries but is not affected by competition 17. A global firm is one that ________. a. where the strategic positions of competitors are fundamentally affected by their overall global positions b. operates in more than one country and captures R&D, marketing, and other financial advantages in its costs and reputation c. operates in more than one country and has a sales and marketing staff in those countries d. operates in more than one country and has a sales and marketing staff in those countries developing e. has strategic positions in many countries but is not affected by competition researching 18. Global firms plan, operate, and ________ their activities on a worldwide basis. a. produce b. coordinate c. distribute d. price e. service 19. The major decisions in international marketing include which of the following steps? a. Deciding whether to go abroad. b. Deciding which markets to enter. c. Deciding how to enter the market. d. Deciding on the marketing program. e. All of the above. 20. The internationalization process has four stages. These stages are ________. a. no regular export activities b. export via independent representatives (agents) c. establishment of one or more sales subsidiaries d. establishment of production facilities abroad e. all are part of the internationalization process ________________________________________ MANAGEMENT 1. Relatively enduring resource transactions flows, and linkages that occur among two or more organizations are called: a. Intranet. b. interorganizational relationships. c. resource dependence. d. institutional environment. 2. A system formed by the interactions of a community of organizations and their environment is referred to as a(n): a. interorganizational relationships. b. organizational ecosystem. c. collaboration network. d. institutional environment. 3. In this new world, managers think about _______ rather than vertical structures. a. profit-making b. stakeholders c. horizontal structures d. competition 4. Which of the following is not part of the framework of interorganizational relationships? a. population ecology b. institutionalism c. collaborative network d. shared competition 5. Which theory argues that organizations try to minimize their reliance on other organizations for the supply of important resources and try to influence the environment to make resources available? a. interorganization theory b. environmental resource theory c. resource dependence theory d. economic supply theory 6. Which of the following statements is false? a. Functional managers may be the head of a payroll department. b. Functional managers often oversee several general managers. c. Functional managers may be responsible for making sure that payroll checks are issued on time and in the correct amounts. d. General managers may be responsible for a strategic business unit or a division. 7. General managers usually have ___________managers reporting to them. a. country b. top c. regional d. functional 8. One who understands the workings of a business enterprise is aware of the fact that in large organizations, managers may be distinguished by the scope of the activities they manage. Therefore, which of the following statements is accurate? a. Functional mangers supervise employees with general skills that may be applied to many roles. b. General Managers supervise employees with specialized skills in a single area. c. General Managers may be responsible for the operation of a department, but only if it is very small. d. General Managers are responsible for the overall operations of a more complex unit such as a company or division. 9. In what specific sequence do managers perform their managerial functions in order to achieve company goals? a. planning, organizing, leading, controlling b. organizing, leading, controlling, planning c. leading, controlling, planning, organizing d. None of the above because the functions are often performed simultaneously. 10. American Express’ decision to grow their customer base, and establish global partners is an example of which managerial function? a. organizing b. planning c. directing d. controlling 11. All of the following are reasons managers plan except: a. coordinating human, material, and information resources. b. establishing an overall direction for the organization’s future. c. identifying and committing the organization’s resources to achieving its goals. d. deciding which tasks must be done to reach those goals. 12. Managers can better coordinate human, material, and information resources by: a. organizing effectively. b. delegating issues. c. leading team members. d. focusing on issues. 13. In the _________ process managers set standards of performance, measure current performance against those standards, take action to correct any deviations, and adjust the standards if necessary. a. planning b. organizing c. leading d. controlling 14. Howard Schultz, CEO of Starbucks, believes that its success is due to competitive spirit, ability to respond to customers’ needs, and its ____________ process. a. leading b. planning c. controlling d. organizing 15. YUM! Brands is divided into five distinct restaurant brands for the purpose of serving the specialized needs of customers. What managerial function is being employed to achieve this type of clarity? a. organizing b. planning c. leading d. controlling 16. When Lois Dimpfel, vice president of IBM Worldwide Olympic Technology Systems, was organizing the team to bring the Salt Lake City Games to millions of TV viewers, she was primarily involved in the _______________ managerial function. a. planning b. controlling c. organizing d. leading 17. Kerry Smith has just moved into a top-level managerial role with Pepsi products. Which of the following is not part of the planning process Smith will be engaged in? a. establishing directions for the organization b. identifying the organization’s resources to achieve organizational goals c. committing the organization’s resources to achieve organizational goals d. structuring relationships among employees that will enable