POB Unit 3 Review Question Preview (ID: 49397)


Unit 3 Review. TEACHERS: click here for quick copy question ID numbers.

1. Mark and Susan, a recently married couple with full-time jobs, set a goal of putting $200 in savings every month to make a down payment on a home in five years. What type of goal have they set?
a) long term
b) short term
c) intermediate
d) unrealistic

Amber's academic adviser has asked her to set 3 academic goals for this semester. These goals are MOST LIKELY to be accomplished if:
a) Amber discusses her goals with her parents.
b) Amber lets her friends set her goals.
c) Amber thinks about her goals weekly.
d) Amber writes her goals down.

One element of a SMART financial goal is missing the in the example below. Which one is it?
a) I will save $150 each month to go on a vacation in one year.
b) Specific
c) timebound
d) attainable

Kaylee will save her allowance of $25 per month to purchase a $150 mp3 player in six months. This is an example of what type of goal?
a) long term goal
b) short term goal
c) mid term goal
d) this is not an example of a goal

I plan to save $1,500 to buy a used car by saving $75 from each paycheck. Which part of a SMART goal is this goal missing?
a) time bound
b) attainable
c) realistic
d) measurable

Herbie is in charge of the company's potluck picnic. He doesn't need help deciding who to invite. It is a company picnic so you invite the employees. This is an example of what type of decision?
a) minimum input
b) moderate input
c) maximum input
d) video input

Herbie is in charge of the company's potluck picnic. He needs to decide where to hold the picnic. He thinks it may be helpful to ask the employee steering committee. This is an example of what type of decision?
a) audio input
b) moderate input
c) minimum input
d) maximum input

Herbie is in charge of the company's potluck picnic. Since it is a potluck, he needs input from the entire group to coordinate who is bringing what. This is an example of what type of decision?
a) minimum input
b) moderate input
c) maximum input
d) modern input

This type of innovation occurs when a business either creates or improves a product.
a) product innovation
b) process innovation
c) position innovation
d) paradigm innovation

This type of innovation occurs when a business changes how something is done.
a) position innovation
b) paradigm innovation
c) process innovation
d) product innovation

This type of innovation occurs when the purpose of a product is changed.
a) paradigm innovation
b) product innovation
c) process innovation
d) position innovation

This type of innovation involves a significant change in thinking.
a) paradigm innovation
b) product innovation
c) process innovation
d) position innovation

When making an important decision for a business it is BEST to:
a) go with your gut feeling
b) flip a coin
c) delegate the decision making to someone else
d) use a decision making process

Which is an internal factor that might influence a business owner's decision making?
a) opinion of others
b) competitors' activities
c) comfort with risk
d) market share

An important problem-solving skill for individuals to have is the ability to be:
a) agressive
b) informational
c) objective
d) judgemental

What does the T stand for in SMART goals?
a) team
b) technology
c) terrific
d) time bound

In the decision-making process, which step occurs after the need is determined?
a) acting on the decision
b) considering the choices
c) gathering the information
d) making the decision

When Delores is finding solutions for obstacles at her job, she is:
a) decision making
b) inventing
c) innovating
d) problem solving

What does the S stand for in SMART goals?
a) special
b) specific
c) serious
d) scientific

Employees who have innovation skills are able to:
a) socialize effectively
b) behave aggressively
c) react to problems
d) think in new ways

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