Ch 4-5 T&F
True or false: The unconscious reference to one's own cultural values as a standard of judgment is known as cultural bias.
False The unconscious reference to one's own cultural values as a standard of judgment is known as the self-reference criterion.
True or false: Environmental scanning refers to the systematic analysis of a firm's social responsible activity related to environmental awareness.
false
True or false: On-line shoppers tend to be single, female, and college educated.
false
True or false: When additional outsiders are added to insider-dominated boards, outsiders are more likely to pressure for corporate restructuring when performance is poor.
true
True or false: commodization refers to the increasing difficulty firms have distinguishing their products and services from those of their rivals.
true
True or false: corporate takeovers have been promoted as a system of checks and balances for firm management
true
True or false: internet acts as a distribution channel for many non-tangible goods and services
true
True or false: many companies limit the number of board memberships their own board members may hold
true
True or false: Most organizations can be classified as either ethical or unethical.
False Ethics is an individual phenomenon; managers and other employees can be ethical or unethical.
True or false: Commoditization refers to the ability to individualize product and service offerings to meet specific buyer needs.
False Mass customization refers to the ability to individualize product and service offerings to meet specific buyer needs.
True or false: goals are specific, often quantified, versions of objectives
False Objectives are specific and often quantified versions of goals.
True or false: If a firm is able to consistently earn above-average profits, it is effectively balancing the goals of its stakeholders.
False Profitability is only one stakeholder goal.
True or false: The integrative social contracts view of ethics suggests that decisions should be based on religious convictions.
False The integrative social contracts view of ethics suggests that decisions should be based on existing norms of behavior, including cultural, community, or industry factors.
True or false: The agency problem refers to the balancing act a firm must exhibit when attempting to satisfy the myriad of governmental agencies.
False. The agency problem refers to a situation in which a firm's managers (i.e., the owners' agents) fail to act in the best interests of the shareholders.
True or false: In many respects, social forces are the drivers of consumer markets.
True In general, social forces are very strong in consumer markets.
True or false: The expansion of a religion in an emerging country is an example of a social force.
True Religious values in all countries, emerging or otherwise, constitute a key social force.
True or false: Environmental scanning can be difficult for large firms because of the availability of too much information.
True The main problem created by environmental scanning is often one of determining which information available warrants attention.
True or false: A situation in which a firm's managers fail to act in the best interest of the shareholders is known as the stakeholder dilemma.
false
True or false: Adverse selection exists when the parties in an arrangement do not share equally in the risks and benefits.
false
True or false: Any purchase of a controlling quantity of shares of a firm by an individual, a group of investors, or another organization is known as a leveraged buyout (LBO).
false
True or false: Corporate takeovers have been supported because of their ability to reduce the debt of acquired firms.
false
True or false: Creditors and suppliers typically share the same goals for the organization
false
True or false: Social responsibility refers to an individual's responsibility to make business decisions that are legal, honest, moral, and fair.
false
True or false: The Internet fosters information asymmetry, a state whereby the seller and buyer are not likely to share the same information.
false
True or false: The unconscious reference to one's own cultural values as a standard of judgment is known as cultural discrimination.
false
True or false: country accounting for the greatest piece of the US trade deficit is mexico
false
True or false: rate of technological change varies considerably across industries in different nations but generally not in the same nation
false
True or false: Mass customization refers to the ability to individualize product and service offerings to meet specific buyer needs.
true
True or false: Offshoring refers to relocating some or all of a firm's manufacturing or other business processes to another country to reduce costs.
true
True or false: One of the reasons that outsourcing/offshoring debates are so difficult to resolve is that accurate data can be difficult to obtain, especially in developing nations.
true
True or false: Outsourcing refers to contracting out a firm's non-core, non-revenue-producing activities to other organizations primarily to reduce costs.
true
True or false: Over the past several decades, the composition of the typical board has shifted from one controlled by insiders to one controlled by outsiders.
true
True or false: The triple bottom line refers to the notion that firms must maintain and improve social and ecological performance in addition to economic performance.
true
True or false: The utilitarian view of ethics suggests that anticipated outcomes and consequences should be the primary considerations when evaluating an ethical dilemma.
true
True or false: process of dis-aggregation an re-aggregation has resulted in an increased emphasis on partnerships
true
True or false: social forces can vary markedly among nations, even those whose cultures are similar
true
True or false: reading the wall street journal can be an integral part of environmental scanning
true Environmental scanning is the process of staying abreast of changes in the macroenvironment, a process that can be assisted by reading business publications.