Busad 250
The Ray family owns a family business. Currently, the business's assets are $100,000, and its liabilities are $125,000. What is the Rays' owners' equity?
-25,000 equity=assets - liabilities
Most small businesses employ __________ employees.
0
If a firm has assets of 1,000,000 and liabilities of $250,0000, what is the owners' equity in the firm?
750,000 If a firm has assets of 1,000,000 and liabilities of $250,0000, the owners' equity is $750,000. Assets − Liabilities = Owners' equity $1,250,000 is too high given the firm's liabilities. Assets − Liabilities = Owners' equity $1,000,000 is too high given the firm's liabilities. Assets − Liabilities = Owners' equity $250,000 is too low given the firm's assets. Assets − Liabilities = Owners' equity
Which of the following best describes a business plan?
A document that summarizes a proposed business venture, its goals, and plans for achieving those goals.
What is the difference between a profitability ratio and a liquidity ratio?
A profitability ratio shows how well a company is generating profits, whereas a liquidity ratio measures a firm's ability to pay its short-term obligations.
Izumi works for a small clothing store. Her duties include tracking the income and expenses of the store and creating financial reports at regular intervals. In this scenario, which of the following activities is performed by Izumi?
Accounting
__________ is the system a business uses to identify, measure, and communicate financial information to others, inside and outside the organization.
Accounting
what is organizing
Arranging an organization's resources in the best way possible to help reach its goals and objectives.
Which of the following best illustrates a decision regarding the price component of the marketing mix?
Book Bug Inc., a retail book store, has decided to offer a five percent discount on three books.
is using a brand name of existing products for a new product category.
Brand Extension
Which of the following is true about a business incubator?
Business incubators provide facilities to start-up companies.
The last stage in the new-product development process is _
Commercialization
Which of the following is a firm least likely to use for short-term financing?
Corporate bonds
Which of the following are the three basic functions financial managers are responsible for in firms?
Developing the firm's financial plan, monitoring cash flows, and managing the company's cash reserves
Which of the following is the best explanation of what entrepreneurs do?
Entrepreneurs identify, evaluate, and exploit new business opportunities.
____ is used as a label for a wide range of innovations that have the potential to improve financial services and in some instances radically disrupt them
Fintech
increasing taxes is an example of the government using ____ to affect the economy
Fiscal Policy
which of the following accounting standards systems do much of U.S firms use
GAAP
Dan has developed an smart phone application that lets people know when they are most likely to be bitten by a mosquito. Which of the following best describes Dan in this context?
He is an entrepreneur.
is globally recognized group of standatd for quality management systems
ISO 9000
Which of the following activities is typically performed by companies during the commercialization step of the new-product development process?
Introducing a new product into the market
Which of the following best describes a liquidity crisis?
It can occur when a firm has insufficient cash to meet its short-term needs.
Which of the following best describes working capital?
It is an indicator of liquidity because it represents a firm's current assets remaining after the payment of all of its current liabilities.
Which of the following best describes the Public Company Accounting Reform and Investor Protection Act?
It is designed to improve the integrity and accountability of financial information.
Which of the following best describes zero-based budgeting?
It is the practice of having each department in a firm start with no budget every year and justify every item in the coming year's budget.
Which is true of long-term financing?
It is used to acquire long-term assets such as buildings and equipment or to fund expansion via any number of growth options.
which is true of leverage
It magnifies both your losses as well your gains because it's a technique that utilizes borrowed money.
Which of the following describes the risk/return tradeoff?
It means that the higher the perceived risk, the higher the potential reward.
Which of the following did the Public Company Accounting Reform and Investor Protection Act (Sarbanes-Oxley) do in 2002?
It required CEOs and CFOs to sign statements attesting to the accuracy of their financial statements.
Which of the following is true of debt financing?
Lenders usually have no influence over management.
which of the following is the best example of entrepreneurship
Lily, a store-owner, decides to open a fast-food kiosk outside her own store.
Which of the following best describes positioning?
Managing a business in a way that is designed to occupy a particular place in the minds of target customers.
Which of the following is an example of controlling management function?
Mandy, a floor supervisor at a manufacturing unit, is giving her employees advice on how to prevent defect from occurring in the good that are produce s
The following are start-up companies in different situations. Which business is at a greater risk of failure?
March Company has been careful not to borrow a lot of money to gets its business started, only the bare minimum.
___ process by which companies create value for customers and build strong customer relationships in order to capture value from customers in retun
Marketing
Which of the following can put a business at a greater risk of failure?
Poor inventory control
Which of the following is a profitability ratio?
Return on sales
______refers to comprehensive U.S legislation designed to improve integrity and accountability of financial information
SOX (sarbanes-oxaley)
which of the following is an example of the controlling management function
Sanjay, a manager at a software company, reviews the goals set for his employees during their last performance reviews to see if they have been met.
which of the following is an example of the controlling managemnt function
Sanjaya, a manager at a software company, reviews the goals set for his employees during their last performance review to see if they have been met
Which of the following is a federal government agency where small businesses can apply for loans, get management and financing advice, and learn about selling to the federal government?
Small Business Administration
which of the following is the best explanation of what entrepreneurs do
Small Business Administration
what is the rate that member banks charge each other to borrow money
The federal funds rate
A product franchise gives you the right to do which of the following?
The right to sell trademarked goods purchased from a franchisor
Which of the following is true of small businesses?
They are major employers.
Which of the following is a trait of successful entrepreneurs?
They innovate to realize a vision.
which of the following indicated you are thinking more with a consumer mindset than a business mindset
You wonder how much you will have to pay for a new curved plasma TV you want to buy and where you can get the best deal on it.
which of the following is a trade promotion tactic
a bonus program
which of the following best characterizes a lifestyle business
a business built around the needs of an individual or family
Which of the following is a part of new-product development effort?
a company making improvements on a product developed by its in house E&D team
which of the following reflects the exhibition of strategic corporate social responsibility
a company that provides an onsite day care center for its employees and nearby residents because the facility is located in a remote location with few childcare alternatives
From a customer's perspective, which of the following primarily corresponds to the place, or distribution, component in the marketing mix?
a customer expecting a product to be made available as conveniently as possible
which of the following best describes a premium
a free or bargain-priced item offered to encourage the consumer to buy a product
In the context of the four Ps of the marketing mix, which of the following best illustrates a decision regarding the place, or distribution, component?
a managers decision to deliver purchased products directly to customers
Which of the following illustrates a sale to the organizational market?
a manufacturer of electronics buys components from a supplier
how does a push strategy differ from a pull strategy
a push strategy is aimed at intermediaries whereas a pill strategy is aims at consumers
which of the following is illegal when it comes to advertising
a retailer advertises a very low price on a product, but when consumers come into the store to buy it, the retailer deliberately tells them the product is sold out both there is a more expensive one they can buy
in which of the following topics would someone studying microeconomics be most likely interested
a review of a certain corporations budget
which of the following best describes pure competition
a situation in which so many sellers sell the same type of product and no single buy or seller can individually influence market prices
mario is wealthy and lives in a large home on the East Coast. A hurricane is coming, so Mario decides to purchase a generator in case he runs out of power. He has never owned a generator before. Which of the following is driving Mario's purchase?
a situational factor
In which of the following scenarios will the location of a plant / business have a positive effect on its operation
a sugar manufacturing plant located one mile away from acres of sugarcane fields
making your cowoerkers look good and fixing problems rather than complaining about them are examples of being
a team player and positive
____ is the system a business uses to identify, measure and communicate financial information to others, inside and outside the organization
accounting
____ is the system a business uses to identify, measure, and communicate financial information to others, inside and outside the organization
accounting
which type of professionals are primarily responsible for monitoring and reporting a firms ongoing financial activities
accounting managers
ChilledGuilts Inc. makes novel ice creams. It uses television commercials and radio programs to spread awareness about its products. It also places messages in newspapers and magazines advocating its ice creams. Although the company reaches a global audience, its promotional method is impersonal. __________ is the promotional tool used by ChilledGuilts Inc.
advertising
which of the following best describes institutional advertising
advertising designs to create goodwill and build a desired image for a company rather then to promote specific products
________ _______ promotes an organization positions on a public issue, such as global warming, immigration, or healthcare
advocacy advertising
which of the following is not one of the four key roles the us gov plays in the economy
affecting exchange rates
which of the following best describes socialism
an economic system characterized by public ownership and operation of key industries combines with private ownership and operation of less vital industries
which of the following statements best defines the term whistle-blower
an individual who raises ethical concerns or issues to others internally through formal reporting mechanisms or externally to the news media or government regulators
In context of the four Ps of the marketing mix, which of the following best illustrates a decision regarding the element of promotion (communication)?
an organizations decision to replace personal selling with the distribution of product catalogs because catalogs are preferred by customers
What is a touchpoint?
any point of intersection - online on the phone, or in person - between a company and its current and potential customers
what does the communication related acronym AIDA stand for
attention, interest, desire, action
Solo, a public accountant, is hired by Jack's Sporting Goods to review and evaluate the accuracy of the financial reports of the company. Which of the following activities is performed by Solo for Jack's Sporting Goods?
auditing
____is the area of accounting responsible for reviewing and evaluating the accuracy of financial reports
auditing
Yahoo! Sports uses AI to generate millions of personalized draft reports and game recaps for members of its fantasy football leagues.
automated writing
s characterized by a long-term trend of falling stock prices.
bear market
segmentation groups customers according to their relationship with products or response to product characteristics.
behavioral
In ___________, each new transaction is captured and added to the previous transaction in a continuous chain.
blockchain
goals are best defined as
broad, long range targets or aims
A snack bar offers a soup, sandwich, and a muffin for a combo price of $10. The snack bar has a large number of takers for this combo because the items are more expensive when bought individually. What pricing strategy is the snack bar using?
bundling
organizations that offer products tp their customers to earn a profit are known as
business
A document that summarizes a proposed business venture, its goals, and plans for achieving those goals is known as a(n) __________.
business plan
Jim, a businessman, wishes to start a chain of grocery stores. However, all the banks he approaches turn him down due to a lack of direction in his ideas. Finally, Sheila, a bank manager, asks Jim to draft a formal document that outlines the nature of his business, its short-term and long-term goals, and the potential for its success. Sheila advises him to draft this document and approach the bank once more. The formal document that Jim is advised to draft is known as a __________.
business plan
is the collection of long term strategic decisions that establish the overall level of resources needed to meet customer demand
capacity planning
an economy in which individuals and businesses have the most freedom to make decisions based on what a consumer needs and wants
capitalist economy
which of the following are complementary goods and or services
cars and car tires
the idea generation step in the new product development process primarily involves
coming up with ideas for products that will satisfy unmet needs
the idea generation step in the new product development process process primarily involves
coming up with ideas for products that will satisfy unmet needs
In the new-product development process, test marketing occurs before __________.
commercialization
which of the following best describes the minimalist approach to corporate social responsibility (CSR)
companies do not have social responsibilities beyond earning money and obeying the law
Which of the following best describes the proactive approach to corporate social responsibility (CSR)?
companies have a responsibility to help society beyond paying taxes and obeying the law
which of the following is true of public relations
companies use it to build a favorable corporate image and foster positive relations with different people and groups
which of the following happens during the storming state of a teams development
conflict and disagreement often arise as members jockey for position or form coalitions to promote their own perceptions of the teams mission
Which group is made up of people who buy goods and services for their personal or household use?
consumer market
Engaging in activities and making decisions that keep a company on track to reach its previously established goals is an example of which managerial function?
controlling
Which of the following is a firm least likely to use for short-term financing?
corporate bonds
today a new wave of alternative money is happening in the form if
cryptocurrencies
________ capture, organize, and capitalize on all the interactions that a company has with its customers.
customer relationship management (CRM) systems
a marketing specialist is primarily responsible for which of the following activities
deciding how the benefits of a product should be advertised
What is a specific type of machine learning that uses layers of artificial neural networks to mimic brain functions?
deep learning
The ___ to corporate social responsibility (CRS is that companies engage in CSR only after being shamed or forced into it
defensive approach
DMAIC is an acronym for which of the following
define, measure, analyze, improve and control
The __________ is a diverse collection of exchanges and over-the-counter trading.
derivatives market
which of the following is an example of the organization management function
determining the tasks to be performed
_____ is development so fundamentally different and far-reaching that it can create new professions, companies, or even entire industries while damaging or destroying others
disruptive innovation
online retailing is an example of a
disruptive innovation
a ____ is an organized network of intermediaries that work together to move goods
distribution channel
------involves creating new products for new markets.
diversification
fixed costs are costs that
do not change when production levels rise or fall
when did federal state and local governments in the US being enacting numerous laws and regulations to reduce pollution
during the 1960s
which pricing strategy involves continually adjusting the price of a product depending upon the supply and demand for it
dynamic pricing
during the last recession low cost such as dollar stores saw their sales climb. this was due to the change in the
economic environment
during the last recession, many high-end retailers experienced a drop in sales this was due to a change in the
economic environment
Sean, operates a store that employees five people. One day Sean noticed that many students from a college in the neighborhood purchased pre-made sandwiches and food from his store. So he decided that setting up a fast-food kiosk near campus would be a good opportunity for him. Due to other commitments, he handed over the store to his wife to run and now he does not take part in its day-to-day management. When Sean set up the kiosk, he became a(n) __________.
entrepreneur
which of the following is an example of the planning management function
establishing strategies for achieving goals
Bryan's Café has branches in several cities across the United States. It wants to observe the effect of changes in pricing on its sales volume before introducing new varieties of coffee. It selects two cities with similar characteristics and introduces the new variants in its menu. The information collected from these trials will be used to determine the factors affecting sales volumes. Which type or market research is Bryan's Café trying to collect?
experimental research
Welch Industrial Supply is a small industrial supplier of janitorial equipment in New Jersey, owned by Ed Welch. Ed is experiencing a surge in business and needs some temporary working capital. Currently, the firm's account receivables are high, and the company doesn't have a lot of time to collect them. What would be a good option for Ed given these conditions?
factoring
which of the following scenarios is an example of whistle-blowing
files allegations against her supervisors, claiming they committed computer fraud
to evaluate a company's performance and profitability, protective and current investors and creditors rely on
financial accounting information
__________ are employed by a firm to help it plan for its money needs and manage the allocation and spending of funds.
financial managers
developing plans to determine the best ways in which a firm can raise additional capital to launch a new product if primarily the job of a company's ____
financial managers
----- is used as a label for a wide range of innovations that have the potential to improve financial services and some and in some instances radically disrupt them
fintech
people who play the socioemotional role in teams do which of the following
focus on peoples needs rather than getting things done
which of the following is the final, critical step in the personal-selling process
following up
There are several bakeries and confectionaries in the Marksenian market economy, and each bakery sells breads, cakes, and sweets at different prices, which are not controlled by the government or any other organizational body. Customers who wish to buy these confectioneries are free to buy from any outlet they like. The country of Marksenia has a __________.
free market economy
identify the correct statement about goods and services offered by businesses
goods are physical products while serviced are intangible products
__________ is an intangible asset that includes a company's reputation, brand awareness and recognition, workforce skills, management talent, and even customer relationships.
goodwill
which is true of teams
groupthink is a potential disadvantage of teams
Protecting against cost increases with contracts that allow a company to buy supplies in the future at designated prices is referred to as __________.
hedging
price elasticity is
how responsive demand will be to a change in price
An area of concern is that ______ are embedded in AI systems
human biases
A person who enjoys figuring out how to find the best employees for an organization, motive, and retain them is likely to most enjoy a job as an
human resources manager
which of the following are the three major initial decisions a firm needs to make in conjunction with designing an organization
identifying the firms core competencies, job responsibilities, and chain of command
which of the following is a way in which the productivity of a business can be increased
increasing the number of workers
refers to the digital transformation of manufacturing, moving from automated factories to smart factories
industry 4.0
Martin is a manager who works for a company called Devon Works. In which of the following scenarios is Martin making use of his technical skill
informs team leaders and his team member
extends from the research-and-development (R&D) phase through the product's first commercial availability.
introduction stage
the use of radio frequency identification tech is used primarily for which if the following functions in an org
inventory control
which of the following describes nationalization
is a government takeover of selected companies or industries
which of the following of an executive summary
is a shortened version of a business plan for quick presentation purposes
A gantt chart differs from a PERT chart in that Gantt chart
is formatted similarly to a horizontal bar graph
which of the following is a potential advantage of an unstructured organization
is had increased agility
Which of the following best describes the desire stage according to the AIDA model?
is the stage in which you convince the customer that he or she wants a product
what is brand equity
is the value that a company has built up in a brand
what is controlling
it consists of the actives and decisions involved in keeping a companies activities on track toward previously established goals
Which of the following is true of equity financing?
it does not have to be repaid
which is true of an unstructured organization
it doesn't rely on conventional organizational structures to assemble the resources needed to purse business goals
which of the following statements is true of accounting
it helps evaluate a business current and expected financial status
which is true of a systems view
it involves looking at business as a series of interdepended systems rather than individual activities and events
is true of system view
it involves looking at business as a series of interdependent systems rather than individual activities and events
which of the following is true of statistical process control
it involves taking samples from a process periodically and analyzing them to look for trends and anomalies
Which of the following best describes bundling?
it is a strategy in which several products are combines and offered at a lower price than consumers would have to pay if there were purchased separately
which of the following best describes conversation marketing
it is an approach to customer communication in which companies initiate and facilitate conversations in a networked community of potential buyers and other interested parties
which of the following best describes goodwill
it is an intangible asset that includes a company's reputation, brand awakened and recognition, workforce skills, management talent, and even customer relationships
Which of the following best describes the maturity stage of the product lifecycle?
it is generally the longest of the stages and sales begin to level off during this stage
which is true about nearshoring
it is the process of outsourcing work to people and firms in countries located nearby your own country
which of the following describes insider trading
it is the use of unpublicized information that an individual gains from the course of his or her job form fluctuations in the stock market
which of the following best describes GAAP
it refers to standards and practices used by publicly held corporations in the united states and a free other countries in the preparation of financial statements
which of the following statements is true of the matching principle
it requires that expenses incurred in producing revenue be deducted from the revenues they generate during an accounting period
which of the following is true of a divisional structure
its a grouping of departments according to similarities in products, processes, customers, or geography
The following are start-up companies in different situations. Which business is at a greater risk of failure?
jelly works faces and early surge in sales with insufficient on hand
encouraging members is
leading
housing starts and durable-goods orders are examples of
leading indicators in the economy
Kincaid Trucking, a small family-owned trucking firm in Montana, is experiencing a surge in demand and needs to purchase new equipment, such as trucks and loading equipment. The problem is that during the last recession, the company had to take out some loans to stay afloat. Consequently, it is reluctant to take on debt until it has the old debt paid off. Which of the following would be the best financing option for Kincaid Trucking given these conditions?
leasing
which is not an example of professionalism
letting your coworkers do most of the work on a team assignment
is attempting to increase the rate of return on an investment by as much as possible by financing it with as much in borrowed funds as you can obtain.
leveraging
a _____ is the simplest chain of command system
line organization
in this scenario which of the following statements about endeavor is true
made profit if 300,000
which of the following should managers take as the first step in the process of addressing an ethical dilemma
make sure they frame the situation accurately, taking into account all relevant issues and questions
which of the following is the major difference between management accounting and financial accounting
management accounting is used by employees inside and org to make decisions while financial accounting is used by interested partied outside an org to make decisions
are behavioral patterns and avtivities involved in carrying out the functions or managemnt
managerial roles
Fast Fashion, a retail chain in the United States, is considering expanding into Canada. By which method is Fast Fashion attempting to increase its sales?
market development
What refers to a range of tools and techniques that help marketers plan and evaluate marketing activities?
marketing analytics
customer support falls under which of the following major functional areas of a business
marketing and sales
Zeon Drinks, a soda manufacturing company, sells its product to a bottling company called Neon Bottling Co. Zeon Bottling Co. mixes the soda and then fills up PET bottles with the carbonated drink at high pressure. The bottled drinks are manufactured along an assembly line, in which automated machines are used to fill several bottles simultaneously. This virtually eliminates the risk of human error. Zeon Bottling Co. is using the method of __________ to manufacture bottled drinking soda.
mass production
A __________ is a budget that identifies all sources of revenue and coordinates the spending of those funds throughout the coming year.
master budget
is the stage in the lifecycle in which sales begin to level off.
maturity stage
organizations or people that lead smaller amounts of money to business owners who might not qualify for conventional bank loans are referred to as
microlenders
Smithees Tobaccos is planning to release a new line of cigarettes that has less nicotine. But before releasing the new line, Smithees was asked by the Food and Drug Administration to put warning labels on their packets that say, "Smoking is injurious to your health." Though the company argued that the nicotine level in the new line is not injurious, it eventually had to add the label on the packaging. In this scenario, Smithees Tobaccos adding the warning label is an example of a __________ approach to CSR.
minimalist approach
the ___ to corporate social responsibility is that companies do not have social responsibilities beyond earning money and obeying the law
minimalist approach
which of the following is the final step in the making a managerial decision
monitoring and evaluating the results
_____ is a situation in which many sellers differentiate their products from those competitors in at least some small way and are therefore able to charge different prices for them
monopolistic competiton
during the _____ stage of a teams development, conflicts are resolved, and team harmony develops
norming
A successful clothing store found that its sales had been gradually falling for the last 18 months. In order to find the reasons for the gradual decline, it kept track of how many customers entered the store and how many actually made a purchase. It also noted the time of the year and the time of day when the largest number of customers approached the store. On the basis of this information, the store was able to devise a marketing plan in order to attract more customers. Which of the following research approaches did the clothing store use?
obsercational research
is the process of outsourcing of work to other people and firm in countries abroad
offshoring
A person who enjoys solving difficult production and distrubution problem as well as working with many different people in an organization is most likely to be interested in becoming what type of professional
operations manager
a ____ is a diagram that shows how employees and tasks are groupes in a business and where the lines of communication and authority flow
organization chart
Which of the following scenarios illustrates the concept of mass customization in a service industry?
peppers, a fast food restaurant, allows its customers to choose their own ingredients to make burgers
services are ____ because they are consumed at the same time they are produced
perishable
donating money, employee time, or other resources to various causes without regard for any direct business benefits for a company is referred to as
philanthropy
___ is managing a business in a way that is designed to occupy a particular place in the minds of target customers.
positioning
Among the four Ps of the marketing mix, coupons and discounts are marketing tools related to the element of __________.
price
The __________ to corporate social responsibility (CSR) is that companies have a responsibility to help society beyond simply paying taxes and obeying the la
proactive approach
A __________ is a group of employees assembled to find ways of improving quality, efficiency, or other performance measures.
problem solving team
The right to sell trademarked goods purchased from the franchisor is the result of owning a __________.
product franchise
when a company revenue is greater than its expenses, the company typically experiences a
profit
Masks Inc. is a cosmetics company that makes beauty products. It uses whale oil from dead whales only and does not kill whales to obtain blubber. A newspaper publishes a report stating that Masks Inc. allegedly hires poachers to hunt and slaughter blue whales for oil. This enrages animal rights activists, and they stage protests against Masks Inc. and demand that its products be banned from the market. In this situation, which promotion tool should be employed by Masks Inc.?
public relations
it was rumored that fuels inc. a petrochemical company, was using toxic chemicals that pollute the environment. To counter the rumors, fuels inc. sent out press releases justifying its process
public relations
which of following scenarios is an example of increasing the width of a firms product mix.
reintern inc. A consumer electronics manufacture is planning to add two new product lines, laptops and headphones to its product mix to increase its sales
in this scenario which of the following statement about the business is true
robs business made a profit of 50,000 last year
people who enjoy competition, solving problems, working with other people, and more day to day freedom than the average person might be the most interesting in _________
sales professionals
which of the following is an advantage of personal selling
sales professionals are able to build relationships and solve problems for customers in ways the impersonal media cant match
__________ is determining how long each operation takes and deciding which tasks are done in which order.
scheduling
Having a business plan will help an entrepreneur __________.
see if an idea isn't feasible
Miguel owns an economy car, but he wants to trade it in for a big four-wheel drive truck because he thinks it will make him feel better about himself and attract more women than the economy car does. Which factor appears to be driving Miguel's desire to purchase the truck?
self image
which of the following is most closely related to improving quality
six sigma
A ___________is a digital agreement that automatically executes when its criteria are fulfilled by incoming data.
smart contract
which of the following is true of human factor involved in choosing a location for a plant
some corporations send their manufacturing operations outside the US to countries that contain highly skilled workers who require lower wages than their us counterparts
objectives are best defines as
specific short range target
Starbucks' decision to partially fund the cost of college for all of its employees is an example of __________.
strategic CSR
Greensaver Corp. is a company that sells electricity. Greensaver has taken the initiative to generate more power from solar and wind sources and is planting saplings in parks and on roadsides to combat the polluting effects of nonrenewable resources. Which of these best describes Greensaver Corp.'s efforts?
sustainable development
A __________ involves looking at business as a series of interconnected and interdependent systems rather than as a lot of individual activities and events.
systems view
what is the biggest mistake a salesperson can make prior to representing a product to a prospect
talking instead of listening
Shad's company is in trouble. He is part of a task force assigned to determine which divisions of his firm must be downsized prior to the next shareholder meeting. The members of the task force are each responsible for gathering statistics on different divisions by the following Monday. Roger, who is also a member of the task force, doesn't think he can gather the information in time because his wife is having heart surgery in a day or two. Shad asks Roger to get the project done anyway because he says he can work on it while his wife is undergoing the procedure. The role Shad is playing on the team is the __________.
task - specialist
A ______ is a group of people from several departments who are temporarily brought together to address a specific issue
task force
what is a software agent that can be programed to handle a variety of routine taksks
taskbot
which of the us government regulations do firms have to comply with to ensure their employees do not face discrimination
the EEOC
motivating a customer to go ahead and buy a product he or she wants corresponds to which stage in the AIDA model
the action stage
which of the following are three major financial statements of a firm
the balance sheet, the income statement, and the statement of cash flows
from a customers perspective, the element of promotion in the four Ps of the marketing mix corresponds to
the customers expectation of two way communication with the seller
which of the following topics would someone studying macroeconomics most likely be interested
the effect of a government regulation on the economy
what is composed of people who work as independent contractors on a series of short term projects or tasks
the gig economy
Which of the following is a vital role of management?
the informational role
which of the following is a vital role of management
the informational role
which of the following must the members of a team agree on for a win-win strategy to work during a conflict
the members must agree that the other party can be trusted
United Wheels Inc., a car manufacturer, plans to release a new line of cars that uses biodiesel. By state law, all cars manufactured in that state have to meet an emission test before they can be commercially sold. Upon inspection, it is found that United Wheels' new model meets those standards and its release is approved. Which approach to CSR has United Wheels taken by developing cars that use biodiesel and making sure that the state emission standards are met?
the proactive approach
Which of the following was not one of the rights President John F. Kennedy said consumers were entitled to?
the right not to be subject to identity theft
which of the following describes the action stage in the AIDA model
the stage in which you motivate a customer to go ahead and buy a product he or she wants
which of the following describes economics
the study of how society uses its scarce resources to produce and distribute goods and services
team member who focus on getting things done rather than people needs play which role in the team
the task specialist role
which of the following acts by congress is most closely related to ensuring consumers are given the right to be informed
the truth in lending act ( consumer protection credit act )
which of the following products is counted as part of the us gross domestic product
the value of a new automobile produced in the US
Which of the following is true of small businesses?
they are major employers
which of the following is true of supply chain
they consist of suppliers, manufacturers, and service providers
society is benefited by businesses in which of the following ways
they contribute to national growth, stability and security
Which of the following statements is true of variable costs?
they depend on production levels
which of the following is true of effective teams
they have a clear sense of purpose
Which of the following is the primary purpose of test marketing when it comes to new products?
to introduce the product in selected markets and monitor consumer reactions
which of the following is a risk associated with a product-line extension
too many categories or types of products can dilute the brands meaning in the minds of target customers
for which group of managers are conceptual skills important
top manager
______ degree to which affected parties can obserce relevant aspects of transactions or decisions
transparancy
Which of the following is one of the three major budgeting challenges firms face?
trying to predict future costs
Diminished employee loyalty is a potential disadvantage of what kind of an organization
unstructured organization
____ do not rely in conventional organizational structures to assemble the resources needed to pursue business goals
unstructured organizations
Danielle, the manager of a toy manufacturing company, wants to increase the sustainability of her firm's supply chain. Which of the following modifications can be made to the supply chain in order to achieve this?
use minimal material for packaging
a network structure is the same as
virtual organization
create a simulation in which the person experiences the sensation of being in an environment, even though that environment is entirely computer generated.
virtual walk throughs
Which of the following refers to the number of different product lines that a company offers?
width
A vital step in maintaining positive cash flow is monitoring _______.
working capital accounts
all of the following are examples of having business mindset except
you wonder how much you have to pay for a new smartphone you want to buy and where you can get the best deal on it