Test your basic knowledge |

Management 101: Business History

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Use of stock tender to offer to buy a company that did not want to sell.






2. Influenced by Army. Staff officers-strategic decisions - Line officers-carried out orders in field.






3. A position of balance between investors - employees - consumers - competitors - and all others who may be interested in attitudes of management.






4. Companies had the right to manage. Union leaders.






5. Restraints of trade. Railroads could not collaborate to fix prices. Wasn't used until the 20th century.






6. Worked divided by specific tasks. i.e. accounting - production - ect.






7. GM - Ford - and Chrysler dominated the market. GM=50% share






8. Free trade between US - Canada - Mexico






9. Set of values that placed a higher priority on the use of good than on their production.






10. Interstate Commerce Commission was strengthened. Regulated rates.






11. Workers would enjoy the rights of association and the ability to influence wage levels.






12. Defense department became a significant source for scientific and engineering. Led by private firms and university.






13. Promote economic recovery in Europe.






14. A few firms dominate an industry. Price competition decreased.






15. Set of attitudes and values that optimistically looked toward the erection of new institutions through which Americans would realize the good society.






16. First college of business.






17. Use borrowed money to buy company. Sometimes used to take 'stock private'






18. Few companies combines forces to control production of sale of a product.






19. Worlds largest provider of computer software for desktops.






20. Eisenhower termed. Large companies received majority or military contracts. California boomed because of defense companies.






21. Companies would act responsibility toward the American public on matters as truth in advertising. Hiring of woman.






22. Most women were stalled at middle management levels.






23. Leader of the new school economists. Rejected Laissez faire. Did not believe in government run business.






24. Oil supplies withheld; large - non fuel efficient car; More japanese cars sold; Ford - Chevy - Chrysler






25. Formalized business practices by standardized management practices.






26. Employers can hire whoever they want. Both union and non union.






27. President;FDIC;Closed all banks on first day in office;only president to serve four terms.






28. Trade associations fixed prices and thwarted competition in the interest of maximum efficiency.






29. Committed her life to social reform - immigrant committee






30. Background in railroad business. 1872 entered steel business. Sold to JP Morgan for $480 million dollars.






31. Paper currency issued by the government to finance to civil war.






32. Companies organized their activities around a strategy that integrated careful observation of changing consumer tastes with design production and distribution.






33. Oil refining business. He was the first billionaire.






34. Inflation continued in the absence of robust economic growth.






35. Setting of the firms strategy according to realistic observations of available customers and then organizing the firm to coordinate production - distribution - sales and service according to these observations.






36. Father of Scientific Management. Studied individual tasks to make them more efficient. Used a stop watch to measure time it takes to complete a task.






37. Items purchased by consumers for use over more than a year or two.






38. Started as a gun powder company - Rate of return.






39. Lowest tariffs - easiest access to markets - and fewest restrictions. Granted any nation - had to be all nations.






40. Purchases right to do business and usually pays a franchise fee plus royalty fee based on sales.






41. Unemployment rose to 25%; 110 - 000 business failed; Bank Holidays






42. Business leaders sought to achieve cooperation among business - labor and government.






43. Congress established a national banking system.






44. Control all aspects of an industry from raw materials to retail.






45. Dominated the retail industry by mail order only selling.






46. Retailer - mail-order companies. Name brand products - advertising - catalogs.






47. Cooperative activity in the service of the public - exchanging information - eliminating waste - fostering labor management to improve the business system.






48. Corporate offices






49. Setting of prices by mangers of large firms.






50. Outlawed racial and gender discrimination; created equal employment opportunity; affected hiring; job security.