Business: Ch. 1

What part of the market environment shapes the behavior of​ customers?

buying influences

Which of the following activities is most likely to be considered​ unprofessional?

Posting critical comments regarding the employer in a personal blog.

Businesses that need very large amounts of​ money, equipment, or other material resources in order to get started are​ ________ businesses.

capital-intensive

A(n) ________ is a framework of how a business intends to generate revenue.

business model

​________ refers to some aspect of a product or company that makes it more appealing to target customers.

competitive advantage

If individuals and companies believe they can pursue rewards without facing the risks that should be attached to those​ pursuits, they are more likely to engage in irresponsible and even unethical behavior. This situation is known as​ a(n) ________.

moral hazard

An HR specialist is most likely to be responsible for which of the following​ activities?

motivate and train diverse workforces

​________ is the quality of performing at a high level and conducting oneself with purpose and pride.

professionalism

What type of business tends to be labor​ intensive, relying more on human resources than material​ resources?

service

A management accountant is likely to be responsible for which of the following​ activities?

assessing the manufacturing costs of new products

What makes a great team​ player, and is often an indication of management​ skills?

being able to make others more effective

Because of the increasing importance of the​ field, most companies now employ​ ________ to oversee the development of IT strategies for the organization.

chief information officers

What key aspect of running a business includes the ability to offer valuable goods and services while contributing to​ society?

corporate social responsibility

The conditions that affect the cost and availability of​ goods, services and​ labor, and the behavior of buyers and sellers are BEST described as the​ ________ environment.

economic

Which of the following activities would be a part of facilities​ management?

ensuring that the office building adheres to safety standards

The expected norms of behavior in a particular situation are referred to as​ ________.

etiquette

​________ audit the financial reports of public companies as required by law.

external auditors

Which of the following positions would be responsible for establishing the​ long-term financial goals of the​ company, investing funds and raising​ capital?

finance officer

Who are those responsible for investigating financial​ crimes?

forensic accountants

The​ ________ function of a business involves the​ recruiting, hiring and support of its personnel.

human resources

​________ systems can be used to promote communication and data usage through the company or to customers.

information technology (IT)

Which of the following verify the efforts of an​ organization's accounting​ department?

internal auditors

The policies and practices of government bodies would shape the​ ________ environment for a business.

legal and regulatory

What should be done to limit your own filters and biases and to truly seek to improve the communication​ process?

listen actively

The​ ________ function of an organization coordinates the incoming flow of materials and the outgoing flow of finished products.

logistics

________ refers to a​ company's target​ customers, the buying influences that shape the behavior of those​ customers, and competitors that market similar products to those customers.

market environment

Creating branding and advertising strategies to communicate with potential customers would fall under the​ ________ function of a business.

marketing

An organization that seeks to operate efficiently and effectively to achieve its goals without focusing on profit as a motive is a​ ________.

nonprofit organization

Which of the following best describes the department where the​ company's products are​ made, or its service is​ performed?

operations

​________ is the term used to describe the difference between revenue and expenses.

profit

________ activities are intended to identify new ideas that have the potential to result in new goods and services.

research and developement

​________ is money that an organization brings in through the sale of its goods and services.

revenue

All groups affected by a​ company's activities are referred to as its​ ________.

stakeholders

Performing at a high​ level, and continuing to improve is an indication of​ ________ in​ one's pursuit of professionalism.

striving to excel

The term​ ________ refers to forces resulting from the practical application of science to​ innovations, products, and processes.

technological environment