Self assessment exam.

[ILLUSTRATION OMITTED]

Navigating a turbulent economy

1. According to the article, what is a good way for companies to deal with workload peaks and valleys?

   1. Constantly shrink and grow the company's workforce.

   2. Tweak the company's current business model.

   3. Enlist the help of a staffing firm.

   4. Lay-off a section of the company that is no longer useful when times are bad and impose mandatory overtime when times are good.

2. According to Dr. Thomas Von Lehman, managing director of the Meridian group, how often should business owners evaluate their business model?

   1. Every year

   2. Every 2-4 years

   3. Every 3-5 years

   4. Every 4-6 years

3. How long does it take for a restructuring plan to take effect and stabilize an ailing business?

   1. 5 to 10 months

   2. 6 to 12 months

   3. 1 to 2 years

   4. 2 to 4 years

4. If the restructuring of a company is successful, what will happen to the business?

   1. The business will begin to grow.

   2. There will be better communication and workflow between departments.

   3. Management will be better equipped to solve current problems.

   4. The infrastructure of the business will be sound.

5. When communicating the reorganization plan to employees, what communication strategy should management follow when explaining the need to lay off employees?

   1. Management should reinforce that the action taken is necessary.

   2. Management should identify the reason for termination and which employees were laid off because of performance.

   3. Management should promise the fired or laid-off employees a position in the future.

   4. Management should provide the rationale behind the lay-off decision.

6. In 2008, what was Ohio's national ranking in terms of the number of workers seeking unemployment benefits from large-scale job cuts?

   1. First

   2. Second

   3. Third

   4. Fourth

7. Which of the answers listed below was NOT identified in the article as a strategy companies should follow to retain valuable employees during tough economic times?

   1. Eliminate overtime

   2. Make temporary pay cuts

   3. Reduce hours

   4. Increase temporary staffing following lay-offs

8. What statute must employers be careful to avoid violating when contemplating reductions in their workforce?

   1. The Age Discrimination and Employment Act

   2. Workers Safety Insurance Act

   3. Ohio Workers Protection Act

   4. Ohio Workers Compensation Law

9. According to attorney Steve Martin, workforce reduction plans should be formulated based upon:

   1. The elimination of particular employees

   2. The elimination of certain positions

   3. The budgetary numbers in conjunction with the elimination of particular employees

   4. The elimination of all temporary staffing and employee overtime

10. Which of the following answers was NOT included on the list of tips to follow when making...