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. Panic of 1907 - 5 members - foreign transactions went through NY.






2. Sought to break up the control of big business to create more opportunities.






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






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






5. Use of stock tender to offer to buy a company that did not want to sell.






6. 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.






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






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






9. Dept. of Justice and Federal Trade Commission. Companies could seek approval from federal gov't.






10. Setting of prices by mangers of large firms.






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






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






13. Sec. of Treasury under lincoln. Father of national Banking system.






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






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






16. Alliance among public agencies - private firms and trade associations to handle international competitions.






17. Most women were stalled at middle management levels.






18. Gov't involved in economy. Employment - interest money. Interest rates. Deficit spending.






19. Close banks to keep people from withdrawing all of their money and collapsing the banks.






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






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






22. Developed the assembly line. Anti Union. Model T.






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






24. Ultimate authority of nations economic well being shifted from private arena - to public arena.






25. First college of business.






26. Unsafe at any speed. Consumers should not automatically trust new products or the business that produced them.






27. Provided national advertising and mass production






28. 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.






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






30. Goal was to represent the interests of American business in general.






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






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






33. Business - not independent trade unions should look after the best interest of the workers.






34. Interstate Commerce Commission was strengthened. Regulated rates.






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






36. Worlds largest provider of computer software for desktops.






37. Increase consumer durables; increase service industries; trade - finance - transportation - and gov't






38. Corporate offices






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






40. Most favored nation. Trade barriers raised.






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






42. Congress established a national banking system.






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






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






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






46. American firms were poised to dominate economic activity in a system of free trade.






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






48. Formalized business practices by standardized management practices.






49. Management could hire whomever they wanted but after a period of time. All workers had to join the union.






50. Promote economic recovery in Europe.