MGMT: Intro to Business, Chapter Assignments, Chapters 1-7.., etc.
*CHP 5 Assignment* Marianne, who is attending a seminar, is attentively listening to all the speakers. However, she is distracted by one particular speaker's exaggerated gestures. Which of the following forms of communication barriers is Marianne experiencing in this scenario?
A body language barrier
Which of the following marketing concepts emerged during the marketing era?*Assignment 1*
A consumer focus that permeates successful companies in every department, at every level
*CHP 5 Assignment*Which of the following communication channels has the highest channel richness?
A face-to-face meeting
*CHP 5 Assignment*In the context of writing high-impact messages, which of the following is appropriate for a business message?
A message that reads like a natural conversation
Anya is an administrator at Zenorx Inc., a start-up software company. She is responsible for acquiring capital for the company. In the context of the various factors of production that businesses rely on, which of the following functions is most likely to be a part of Anya's responsibilities?*Assignment 1*
Acquiring synthetic resources like computers and telephones
*CHP 5 Assignment*In the context of communication channels, which of the following is a difference between an in-person presentation and a face-to-face meeting?
An in-person presentation is used when the need is to reach a large audience with an important message, whereas a face-to-face meeting is used when a message is personal, emotional, complex, or high-priority.
*CHP 5 Assignment*In the context of picking the right words when communicating with your audience, which of the following should be practiced to make communication more effective?
Avoiding bias
Which of the following statements is true when a person makes a career choice based on what he or she loves doing?*Assignment 1*
Chances of personal success are boosted.
Hetlix Corp., a computer manufacturing firm, had its first manufacturing plant in Detroit. It built another manufacturing plant in Paris, despite the high costs involved. Which of the following strategies for reaching global markets has Hetlix Corp. adopted in this scenario? *Assignment 3*
Direct investment
*CHP 5 Assignment*Which of the following communication channels has the lowest channel richness?
*Chapters 1-4*In the context of ethics and social responsibility in the global arena, U.S. corporations are forbidden to offer bribes since 1977 under the _____.
Foreign Corrupt Practices Act
Which of following was a result of the bold steps taken by the General Agreement on Tariffs and Trade (GATT) to reduce trade restrictions worldwide?*Assignment 1*
Goods moved more freely than ever across international boundaries.
_____ means buying products from overseas that have already been produced, rather than contracting with overseas manufacturers to produce special orders. *Assignment 3*
Importing
*CHP 5 Assignment*In the context of creating and delivering successful verbal presentations, which of the following is a key benefit of using Google Presentations?
It can be accessed from any device with a web connection.
*Chapters 1-4*In the context of factors of production, which of the following statements is true of capital?
It does not include money.
Which of the following is a reason for companies to engage in global trade? *Assignment 3*
It reduces dependence on one economy.
*Chapters 1-4*In the context of fundamental principles of a free market system, which of the following statements is true of a demand curve?
It shows the relationship between price and quantity from a customer standpoint.
Conela is a nonprofit organization that renovates abandoned government schools and facilitates their functioning. It is headed by two social activists and is funded by the government. Which of the following statements is true of Conela?*Assignment 1*
It takes in revenue like any other business.
Which of the following is a key dimension of the business environment?*Assignment 1*
The economic environment
*CHP 5 Assignment*Which of the following statements is true of communication channels?
They differ from one another in terms of how much information they communicate to the recipient.
*CHP 5 Assignment* Lara is giving her first presentation at a seminar on corporate social responsibility. Although she is nervous, she wants to try her best to grab the audience's attention. To achieve this, when opening the presentation, Lara should start with:
a compelling story.
*Chapters 1-4*In the context of monitoring ethics and social responsibility, when firms monitor themselves, the process is referred to as ____.
a social audit
In the context of international trade restrictions, an embargo is: *Assignment 3*
a total halt in trade with a particular nation.
A(n) _____ is the benefit a country has in a given industry when it can produce more of a product than other nations using the same amount of resources. *Assignment 3*
absolute advantage
*Chapters 1-4*In the context of business ethics, _____ involves clear misconduct, unlike an ethical dilemma that involves a conflict of values.
an ethical lapse
*CHP 5 Assignment* Great communication skills are most likely to:
boost your chance for success.
*Chapters 1-4*Melvin and Neil run a pawnshop in their neighborhood. They offer loans to individuals in exchange forpersonal items of higher or equal value, which are used as collateral. If an individual is unable to repay the loan, Melvin and Neil then sell these items at higher rates. In this scenario, Melvin and Neil's pawnshop is an example of a _____.
business
*Chapters 1-4*Glasvania, a European country, experiences a period of economic downturn that results in high unemployment. Almost all businesses are compelled to reduce their prices by a large margin because most consumers have limited money to spend. The given scenario exemplifies _____.
deflation
*CHP 5 Assignment*Rubina is the director of procurement at Baines Corporation. She plans to send a memo to the employees in her department outlining some changes in the company's personnel policies. She believes that most of the employees will view the changes favorably. Therefore, Rubina is most likely to:
describe the bottom line of the policy changes at the beginning of the memo.
*Chapters 1-4*In the context of the history of American business, the _____ emerged in the second half of the 1800s, by building on the foundation of the industrial revolution.
entrepreneurship era
During the _____, the government of the United States stepped into the business realm to pass laws to regulate business and protect consumers and workers.*Assignment 1*
entrepreneurship era
In the context of the various strategies for reaching global markets, _____ is producing products domestically and selling them abroad. *Assignment 3*
exporting
*Chapters 1-4*Tanya Williams, the chief executive officer of Willister Computers, believes that the firm is currently best equipped to enter the market of Troyesna, a fast-developing country. The firm offers a small-scale producer in Tryoesna the right to produce and market its goods based on a set of specific operating functions and requirements. This scenario of Willister Computers illustrates _____.
foreign franchising
*Chapters 1-4*Denise is a hard worker, but she has always had differences with her boss, Angela. Angela has recently become more demanding and is often unwilling to provide clarification on project requirements. After many long working days with little job satisfaction, Denise submits her resignation. She knows that her résumé is strong and feels confident that she will find another job. In this scenario, Denise is facing _____.
frictional unemployment
*Chapters 1-4*Irkholm, a South American nation, experiences an economic downturn that leads to an increase in average prices across the country. The situation becomes more serious when average prices increase more than 50% per month. In the given scenario, Irkholm is experiencing _____.
hyperinflation
A reason why countries eliminate international trade restrictions is to: *Assignment 3*
increase jobs from foreign companies.
*Chapters 1-4*Vieorien, a company based in the country of Dannistel, has permitted a foreign company the rights to produce its products and to use the Vieorien trademark. However, Vieorien does not have the authority or the rights to dictate the business operations of the foreign company. In this scenario, the foreign company that Vieorien deals with is the _____.
licensee
A balance of payments deficit is the shortfall that occurs when: *Assignment 3*
more money flows out of a nation than into the nation.
*Chapters 1-4*In the context of global trade, a balance of payments deficit means that:
more money flows out than in.
*Chapters 1-4*Tornio, a steel company, imports iron ore from Marquette iron range in Michigan. In this scenario, the iron ore obtained by Tornio can be classified as _____.
natural resources
Which of the following factors is most likely to be covered by the social environment dimension of a business?*Assignment 1*
population size and density
A reason why countries create international trade restrictions is to: *Assignment 3*
protect national security interests.
*Chapters 1-4*The arguments for and against trade restrictions are called _____.
protectionism
*Chapters 1-4*In the context of international trade restrictions, _____ are limitations on the amount of specific products that may be imported from certain countries during a given time period.
quotas
*CHP 5 Assignment*The goal of nonverbal communication should be to:
reinforce the meaning of a message.
*Chapters 1-4*Walid, an IT professional, is known for his perseverance, his self-discipline, and taking accountability for his actions. In the context of universal ethical standards, Walid most likely possesses the core value of _____.
responsibility
In the context of the competitive environment of a business, the best measure of value is the:*Assignment 1*
size of the gap between product benefits and price.
In some western countries, eye contact during face-to-face communication is considered a sign of honesty. On the other hand, eye contact while talking is considered rude in some countries of Africa and Asia. In the context of international trading, this scenario illustrates _____. *Assignment 3*
sociocultural differences
The quality and quantity of goods and services available to a population is referred to as the _____. *Assignment 1*
standard of living
*Chapters 1-4*A cement company decided to modify its production methods to minimize the negative impact of the company's activities on the environment. The company also invested in the purchase of upgraded machinery to implement this plan. In the given scenario, the cement company most likely embraced the idea of _____.
sustainable development
*Chapters 1-4*Romernia, an Asian country, imported goods and services worth $700 million in the last fiscal year. It exported goods worth $400 million in the same year. The difference in the value of Romernia's imports and exports is known as _____.
the balance of trade
*CHP 5 Assignment*In the context of nonverbal communication involving a listener and a speaker, active listening occurs when:
the listener focuses his or her complete attention on the speaker.
If the total value of imports is higher than the total value of exports, the country has a(n) _____. *Assignment 3*
trade deficit
A _____ refers to a group of countries that have reduced or even eliminated tariffs, allowing for the free flow of goods among the member nations. *Assignment 3*
trading bloc
*CHP 5 Assignment*MalChop Inc., an air transport service company, announced that its new project would be delayed due to technical problems at various critical points of the project. Daren, the project manager, plans to send a detailed memo to all the members working on the project outlining how to correct each technical issue. In this scenario, Daren can ensure the effective communication of the memo's key points by:
using headings.
In the context of factors of production, which of the following is a natural resource?*Assignment 1*
wind
*Chapters 1-4*Which of the following companies is engaged in importing?
A company that buys electronic goods that are domestically manufactured by other countries
*CHP 5 Assignment*In the context of communication barriers, which of the following scenarios demonstrates the existence of a language barrier?
A finance manager using financial terms while addressing listeners belonging to an editorial department
*CHP 5 Assignment*In the context of writing high-impact business messages, using which of the following in your message will guide your reader most easily through your writing?
Bulleted lists
Which of the following scenarios illustrates the utilization of human resources as a factor of production?*Assignment 1*
Carlos hires a content writer to develop content for his online portal that sells fashion accessories.
_____ refers to international trade that involves the barter of products for products rather than for currency. *Assignment 3*
Countertrade
In the context of the history of American business, which of the following is a feature of the relationship era?*Assignment 1*
Cultivating current customers turn out to be more profitable than constantly seeking new ones.
*Chapters 1-4*Which of the following is a negative factor that interferes with the effectiveness of socialist economic systems?
Inefficiencies and corruption
In the context of the technological environment, which of the following statements is true of business technology?*Assignment 1*
It includes any tools that companies can use to become more efficient and effective.
Which of the following statements best describes the balance of trade? *Assignment 3*
It is a basic measure of the difference between a nation's exports and imports.
*Chapters 1-4*Identify a true statement about foreign licensing.
It is especially common in the food and beverage industry.
Which of the following statements best describes a comparative advantage? *Assignment 3*
It is the benefit a country has in a given industry if it can make products at a lower opportunity cost than other countries.
*CHP 5 Assignment*In the context of the various communication channels, which of the following statements is true of a telephone conversation?
It is used when there is a need for spontaneous dialogue with the recipient.
Which of the following statements best defines foreign outsourcing? *Assignment 3*
It means contracting with foreign suppliers to produce products, usually at a fraction of the cost of domestic production.
*Chapters 1-4*Which of the following statements best defines the producer price index (PPI)?
It measures the change over time in the prices that businesses pay each other for goods and services.
*Chapters 1-4*Which of the following statements best describes the role of the government in a capitalist economy?
It monitors the competition to ensure compliance to regulations
In the context of the history of American business, which of the following statements is true of the production era?*Assignment 1*
Jobs became specialized, increasing productivity and lowering costs and prices.
*CHP 5 Assignment*Which of the following is a good tip to follow when writing emails?
Keep the message short.
In the context of the history of American business, which of the following statements is true of the entrepreneurship era?*Assignment 1*
Large-scale entrepreneurs emerged in the second half of the 1800s, building business empires.
In the context of a business environment, which of the following is a key element of the U.S. economic environment?*Assignment 1*
Legislation that supports enforceable contracts
Which of the following is a similarity between millennials and digital natives? *Assignment 1*
Like millennials, digital natives tend to be extremely tolerant and inclusive.
*Tafensoma, a developing country, adopts a law according to which its imports require red-tape-intensive licenses. In this scenario, which of the following types of trade restrictions has the country adopted? Assignment 3*
Nontariff barriers
*Chapters 1-4*_____ refers to the relationship between the goods and services that an economy generates and the resources needed to generate them.
Productivity
The government of Sporadia learns that low-priced electronic goods from Arcadia are negatively affecting the sales of the domestic companies dealing with the same products. The Sporadian government decides to impose taxes on goods imported from Arcadia. In this scenario, which of the following trade restrictions has the Sporadian government imposed? *Assignment 3*
Tariffs
Which of the following is best known as a lender of last resort to nations in financial trouble? *Assignment 3*
The International Monetary Fund
Which of the following is an international cooperative of 188 member countries that aims at reducing poverty in the developing world? *Assignment 3*
The World Bank
*Chapters 1-4*Chargon Flasks, a restaurant specializing in Asian cuisine, focuses solely on customer satisfaction. It allows patrons to customize the quantity of their meals and only charges them half the price if their meal is unsatisfactory. The restaurant also has a voluntary service charge policy. In this context, which dimension of the business environment is affected the most?
The competitive environment
According to various research studies, which of the following is an indicator of economic growth? *Assignment 3*
The growing number of people with cell phones
Which of the following statements is true of foreign licensing? *Assignment 3*
The licensee pays a fee to the licensor.
*CHP 5 Assignment*The official company policy of NathWorthone Inc., a weapon manufacturing company, discourages interaction between supervisors and subordinates. Which of the following communication barriers is exemplified by NathWorthone's policy in this scenario?
The organizational barrier
*Chapters 1-4*Moat & Meet, a travel agency, wants to widen its customer base. It adopts a strategy that allows customers to visit their favorite destinations through a virtual reality (VR) machine before visiting the place in person. In this context, which dimension of the business environment is affected the most?
The technological environment
In the context of factors of production, which of the following statements is true of entrepreneurial enterprises?*Assignment 1*
They can kick-start an economy, creating a tidal wave of opportunity by harnessing other factors of production.
In the context of the competitive environment, which of the following statements is true of bleeding-edge firms?*Assignment 1*
They launch products that fail because they are too far ahead of the market.
Which of the following statements is true of entrepreneurs?*Assignment 1*
They produce a ripple effect that enriches everyone around them.
*Chapters 1-4*The controversial $700 billion economic bailout plan passed by Congress in early October 2008 was called the _____.
Troubled Assets Relief Program
*Chapters 1-4*Which of the following is a difference between the millennial generation and Generation Z?
Unlike the millennial generation, Generation Z approaches adulthood planning to work for success.
*Chapters 1-4*In the fiscal year 2015-2016, Nescarto, an African country, imported goods worth $18 million and exported goods worth $20 million. It also borrowed $40 million from other countries. In this scenario, Nescarto had a _____ during 2015-2016.
balance of payments surplus
In the context of factors of production that businesses and nonprofits rely on, _____ cannot be considered a natural resource.*Assignment 1*
cereal crops
*CHP 5 Assignment* When closing a presentation, presenters should:
circle back to their introduction.
Halposa, a developed country, has had armed conflicts with its neighboring country, Lemponga, for a few years. Hence, the newly elected Halposan government has decided to completely stop exporting consumer durables and electronic goods to Lemponga. In this scenario, the Halposan government wants to impose a(n) _____. *Assignment 3*
embargo
_____ is an international economic and political movement designed to help goods and services flow more conveniently across international boundaries.*Assignment 1*
free trade
*Chapters 1-4*Broche Technologies, a brand of electronic appliances, develops a new range of refrigerators that do not release chlorofluorocarbons. The company promotes these products as the most eco-friendly refrigerators in the market. In this scenario, Broche Technologies is engaging in _____.
green marketing
*Chapters 1-4*Troboli is a North American country. The total value of all final goods and services produced in Troboli in the last fiscal year was 3.3% more than the year before that. This growth placed Troboli in a better position than most of its allies. In this scenario, the total value of all final goods and services through which the economic condition of Troboli was assessed is known as _____.
gross domestic product
In the context of the history of American business, which of the following statements is true of the industrial revolution?*Assignment 1*
Factories hired large numbers of semiskilled workers who specialized in a limited number of tasks.
Which of the following statements is a difference between foreign licensing and foreign franchising? *Assignment 3*
In foreign licensing, the licensee does not assume the identity of the licensor, whereas in foreign franchising, the franchisee assumes the identity of the franchisor.