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






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






3. 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.






4. Formalized business practices by standardized management practices.






5. First college of business.






6. Worlds largest provider of computer software for desktops.






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






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






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






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






11. Congress established a national banking system.






12. Promote economic recovery in Europe.






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






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






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






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






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






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






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






20. 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.






21. Could only hire union workers. Illegal






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






23. Gold drain; exchange rates; free floating






24. Transportation. Airline Act. Rail Act. Motor Carrier Act.






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






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






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






28. Provided national advertising and mass production






29. 1929 stock market crashed






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






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






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






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






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






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






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






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






38. Burden of proof to raise rates was now the responsibility of the railroads.






39. Most women were stalled at middle management levels.






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






41. Companies with many different divisions - usually 8 or more that make up and sell unrelated products.






42. Creators of Microsoft






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






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






45. Committed her life to social reform - immigrant committee






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






47. Interstate Commerce Commission was strengthened. Regulated rates.






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






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






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