MBA Bootcamp Quiz - 20 Questions

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Quizzes Created: 1 | Total Attempts: 90
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  • 1/20 Questions

    Most companies start their international activities in a country which is close, familiar, and has similar business practices and needs when compared to their home market.

    • True
    • False
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About This Quiz

This MBA Bootcamp Quiz covers key management principles, including Drucker's management tasks, leadership distinctions, and performance measures.

MBA Bootcamp Quiz - 20 Questions - Quiz

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  • 2. 

    Behavioral Economics is the study of psychology as it relates to the economic decision-making processes of individuals and institutions?

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Behavioral economics is indeed the study of psychology as it relates to the economic decision-making processes of individuals and institutions. It combines insights from psychology and economics to understand how people make choices, including the influence of cognitive biases, social norms, and emotional factors on decision-making. This field recognizes that humans do not always make rational decisions and seeks to explain and predict their behavior in economic contexts.

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  • 3. 

    According to research at Stanford University, only 20% of managers have been found to regularly apply best practices when making decisions?

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The given answer is true. The research conducted at Stanford University suggests that only 20% of managers consistently apply best practices when making decisions. This implies that a majority of managers do not regularly follow established guidelines or proven methods when making decisions.

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  • 4. 

    One of the primary tasks of a manager is to measure performance in the ‘here and now’. To do that well one needs to;
    • Create measurements which are focused on the performance of the whole organization and every individual staff member.
    • Analyze, appraise, and interpret performance based on those measurements.
    • Communicate the meaning of those measurements and their findings to subordinates (or the people who work for you) leaders and other managers.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    A manager's primary task is to measure performance in the 'here and now'. This involves creating measurements that focus on the performance of the entire organization and each individual staff member. The manager then analyzes, appraises, and interprets performance based on these measurements. Finally, the manager communicates the meaning of the measurements and their findings to subordinates, leaders, and other managers. This ensures that everyone is aware of the current performance levels and can work towards improving them. Therefore, the statement is true.

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  • 5. 

    Digital Marketing ROI is:

    • Digital marketing ROI is the measure of the profit or loss generated by digital marketing campaigns. A positive return means your campaigns are bringing in more money than you're spending on them.

    • Digital marketing ROI is the measurement of Rate of Investment in digital marketing campaigns.

    Correct Answer
    A. Digital marketing ROI is the measure of the profit or loss generated by digital marketing campaigns. A positive return means your campaigns are bringing in more money than you're spending on them.
    Explanation
    Digital marketing ROI (Return on Investment) is the measure of the profit or loss generated by digital marketing campaigns. A positive return means your campaigns are bringing in more money than you're spending on them.

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  • 6. 

    The five Boston Consulting Group (BCG) strategic styles are; Visionary, Adaptive, Classical, Survival, and Shaping?

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The given statement is true. The Boston Consulting Group (BCG) has identified five strategic styles, namely Visionary, Adaptive, Classical, Survival, and Shaping. These styles represent different approaches to strategic planning and decision-making within organizations. Each style has its own characteristics and is suitable for different business situations and contexts.

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  • 7. 

    According to Peter Drucker, the leading management thinker, which of the following is true

    • Management is about doing things right, and Leadership is about doing the right things.

    • Leadership is about doing things right, and Management is about doing the right things.

    Correct Answer
    A. Management is about doing things right, and Leadership is about doing the right things.
    Explanation
    According to Peter Drucker, management is focused on the efficient execution of tasks and processes, ensuring that things are done correctly. On the other hand, leadership is concerned with setting the right direction and making strategic decisions, ensuring that the organization is doing the right things. This means that management and leadership have distinct roles and responsibilities, with management focused on operational efficiency and leadership focused on strategic effectiveness.

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  • 8. 

    The triple bottom line (TBL) is a framework or theory that recommends that companies commit to focus on social and environmental concerns just as they do on profits. The TBL posits that instead of one bottom line, there should be three: profit, people, and the planet

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The explanation for the given correct answer is that the triple bottom line (TBL) framework suggests that companies should prioritize not only profits but also social and environmental concerns. It proposes that there should be three bottom lines: profit, people, and the planet. This means that companies should consider the impact of their actions on society and the environment, in addition to financial gains. Therefore, the statement that the TBL recommends focusing on social and environmental concerns just as much as profits is true.

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  • 9. 

    The five primary tasks of a manager are (Peter Drucker); Setting Objectives, Organizing, Measuring Performance, Developing People, and Contributing to Social Issues?

    • True

    • False

    Correct Answer
    A. True
    Explanation
    There five primary tasks of a manager are;

    Setting objectives.
    Organizing.
    Motivating and communicating.
    Measuring performance.
    Developing people.

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  • 10. 

    Drucker defined Management by Objectives (MBO) as follows; managers measure the performance of employees in comparison to the typical standards for the job they might be completing?

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Drucker's definition of Management by Objectives (MBO) involves managers evaluating employee performance by comparing it to the typical standards for the job they are assigned to complete. This implies that managers set specific goals and objectives for employees and then assess their performance based on how well they meet these targets. Therefore, the statement "True" accurately reflects Drucker's definition of MBO.

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  • 11. 

    The Success Formula presented by Prof. A. Duckworth is:  2 x G + TE = Success?

    • NO

    • YES

    Correct Answer
    A. NO
    Explanation
    The real formula was 2 x G + TS = Success
    (2 X GRIT + TALENT SKILL = SUCCESS)

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  • 12. 

    Which of the following is not one component in the OLI analysis in International Business?

    • Integration

    • Ownership

    • Location

    • Internalization

    Correct Answer
    A. Integration
    Explanation
    OLI analysis: Do we have only an ownership advantage? Do we have an ownership advantage and internalization advantage? Do we have advantages in ownership, internalization and location?

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  • 13. 

    Which of the following is not one of the capabilities which truly agile companies have developed to deal with both stability and change?

    • Finely tuned: In order to optimize efficiency in stable conditions.

    • Organizational structure: The primary and secondary structures influence how resources are distributed in a company.

    • Governance: Precisely defined roles and the rapid formation of teams determine how decisions are made under different conditions.

    • Processes: Process owners are selected and integrators are appointed to manage cross functional collaboration and accountability under different conditions.

    Correct Answer
    A. Finely tuned: In order to optimize efficiency in stable conditions.
    Explanation
    Agile companies have developed capabilities to deal with both stability and change. These capabilities include organizational structure, governance, and processes. The given answer, "Finely tuned: In order to optimize efficiency in stable conditions," is not one of these capabilities. It suggests that optimizing efficiency in stable conditions is not a capability that truly agile companies have developed.

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  • 14. 

    The eight Change Management Accelerators (John Kotter, Harvard) are?

    • 1. Create a sense of urgency 2. Form the urgency team 3. Strategic Vision 4. Volunteer army 5. Remove Barriers 6. Short-term wins 7. Sustainable change and 8. Anchor change

    • 1. Create a sense of urgency 2. Form the urgency team 3. Strategic Vision 4. Volunteer army 5. Empower employees 6. Short-term wins 7. Sustainable change and 8. Anchor change

    Correct Answer
    A. 1. Create a sense of urgency 2. Form the urgency team 3. Strategic Vision 4. Volunteer army 5. Remove Barriers 6. Short-term wins 7. Sustainable change and 8. Anchor change
    Explanation
    The correct answer includes the eight Change Management Accelerators as identified by John Kotter from Harvard. These accelerators are: 1. Create a sense of urgency, 2. Form the urgency team, 3. Strategic Vision, 4. Volunteer army, 5. Remove Barriers, 6. Short-term wins, 7. Sustainable change, and 8. Anchor change. The answer provided matches these eight accelerators, therefore it is the correct answer.

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  • 15. 

    Which of the following is the #1 reason startups fail according to CBInsights research?

    • Lack of market need

    • Timing

    • The Team

    • Money

    • Competition

    Correct Answer
    A. Lack of market need
    Explanation
    Lack of market need

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  • 16. 

    The three important questions to ask about complexity reduction in a business are;
    1. How do we avoid it?
    2. How do we fix it?
    3. How do we ignore it?

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The three important complexity reduction questions are;

    What it is?
    How it occurs?
    How to minimize, if not remove it entirely?

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  • 17. 

    Free Cash Flow (FCF) measures the amount of cash generated by a company's normal business operations?

    • True

    • False

    Correct Answer
    A. False
    Explanation
    OCF (Operating Cash Flow) measures the amount of cash generated by a company's normal business operations.

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  • 18. 

    The term MarTech refers to the company who is leading the digital analytics platform market?

    • True

    • False

    Correct Answer
    A. False
    Explanation
    ’MarTech’ (mar marketing, and tech technology). MarTech is the blending of marketing and technology and especially applies to major initiatives, efforts and tools that harness technology to achieve marketing goals and objectives.

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  • 19. 

    Entrepreneurs will earn 35% more in personal income over the first 10-year period, compared to what they could have earned in a paid job (Harvard Business School research)?

    • True

    • False

    Correct Answer
    A. False
    Explanation
    Entrepreneurs will earn 35% less in personal income over the first 10-year period, compared to what they could have earned in a paid job.

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  • 20. 

    Innovation is the action of inventing something new, typically a process or device or a creative ability?

    • True

    • False

    Correct Answer
    A. False
    Explanation
    INVENTION is the action of inventing something new, typically a process or device or a creative ability’. INNOVATION is turning an idea into a solution that ADDS VALUE in some way for example; from a customer’s perspective.

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  • Current Version
  • Mar 20, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jul 06, 2020
    Quiz Created by
    G.l.danford

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