business 3

Expense items that have undergone little or no processing and are used in the manufacture of end products are called:

raw materials

Amanda is interested in building her interpersonal skills. She should focus on all of these EXCEPT:

Set a Goal and acquire Knowledge

_____ is the practice of limiting investments to securities in companies that behave in accordance with the investor's beliefs about ethical and social responsibility.

Social investing

_____ is the concern of businesses for the welfare of society as a whole.

Social responsibility

The Healing Garden is the manufacturer and marketer of organic beauty aids. Its annual $40,000 donation to The Nature Conservancy in support of the nonprofit organization's pledge to preserve the environment is an example of:

corporate philanthropy

Enlightened firms are realizing that empowerment puts too much stress on employees and are eliminating empowerment programs.

false

In a typical interview the icebreaking part tends to be about 30 minutes.

false

In college, students should take selecting a major lightly because they will change the majors and careers at least 6 times.

false

It has been estimated that only up to 50 percent of our workplace success depends on an understanding of other people. Rest it depends on technical skills.

false

Positive behavior is making a conscious effort to think with an optimistic attitude and to anticipate positive outcomes.

false

Price skimming is a price strategy often used in the maturity stage of the product life cycle.

false

Pricing products below the normal markup or even below cost to attract customers is called bait pricing.

false

The only social responsibility that a company has to its investors is an economic responsibility--it must make a profit.

false

The two types of business products are classified as expense and non-expense items.

false

When conflicts occur, one should try the K-I-N-D technique where the letter "I" stand for "Initiate."

false

Worldwide about 33 percent of traditional college-age people get to attend college.

false

Which of the following is an example of a social factor that influences the consumer decision-making process?

family

Which of the following is an example of an ethical business activity?

The employee reported to his supervisors that a co-worker had misappropriated company funds.

An organization's first responsibility is to provide a job to employees.

True

When conflicts occur, try the K-I-N-D technique. Where D stands for:

definite

Which of the following is the second step of the planning process?

Acquire Knowledge

Which of the following is an effective tip to gain empowerment in your life and work?

Ask for credit for yourself when it is due

Which of these steps helps to form the habit of positive thinking and to boost your success?

dwell on past successes

Utilitarianism

is difficult to implement because it is hard to tell how one decision will impact a large number of people

Another factor influencing business ethics is _____, or what is fair according to prevailing standards of society.

justice

Social responsibility goes beyond obligations provided by law or union contract. Two important aspects of social responsibility are that the obligation is both:

voluntary and broad

The philosophy of utilitarianism is used to explain why restaurants, theaters, and hotels should make themselves handicapped accessible.

False

In selecting the right job, one should start with consideration to "FACTS" where "F" stands for:

Fit

_____ is the division of markets into different groups

Market segmentation

Which of the following statements about human rights is true?

None of the above statements about individual rights is true.

Informed

false

One way to gain more time in a day is to do less in more time.

false

______ refers to a shared enthusiasm and devotion to the group.

Esprit de corps

The marketing concept:

satisfies customer wants and needs legally and responsibly

What percent of our workplace success depends on an understanding of other people?

90

An example of a convenience product is a:

bar of soap

Which of the following statements about social responsibility is true?

The obligation that a business has to act socially responsible extends beyond the investors in the company to include workers, suppliers, consumers, and communities.

A homebuilder who disposes of asbestos shingles by burying them on his own property may please the home owner because it is a less expensive means of disposal but will be punished by various legal agencies if any become aware of his crime. At which stage of the social responsibility pyramid is the builder most likely operating?

economic

At the base of the corporate social responsibility pyramid is:

economic responsibilities

A company can only be concerned about its _____ responsibilities once it has met its economic and legal responsibilities.

ethical

Laws have curtailed smoking, and as a result, the sale of cigarettes is down. Rather than fighting the law, the cigarette industry is looking for ways to take their business beyond cigarettes. Many experts believe that the cigarette producers have found a way around the law with the promotion and distribution of smokeless tobacco, which has shown consistent sales gains over the last decade. In terms of the social responsibility pyramid, at which level is the cigarette industry operating?

legal

Social responsibility is a voluntary obligation.

true

Kraft Foods Inc. joined with the National Latino Children's Institute to announce Salsa, Sabor y Salud - a first-of-its-kind healthy lifestyles educational program designed by Latinos for Latinos. The program was created by NLCI in partnership with Kraft to support Hispanic families, a population particularly at risk for obesity and accompanying health problems. Kraft donated $2 million to the program's startup. This donation is an example of:

strategic giving

A plan is a method or process worked out in advance that leads to the achievement of some goal.

true

If you are trying to study but get distracted by all of the things you need to do, take time to make a to-do list.

true

Which of the following is (are an idea(s) to help you master your time?

All of these

Which of the following is (are) a way(s) help you learn how to concentrate?

All of these

In selecting the right job, one should start with consideration to "FACTS" where "C" stands for:

Compensation

Which of the following is a capital product for a multinational organization?

a corporate jet

Which of the following is an example of an industrial service?

a management consulting company

Which of the following would be stakeholders for a manufacturer of agricultural pesticides?

all of the above

Which of the following business products would be considered an accessory in a supermarket?

cash register and scanning equipment

The Chubb Group, an insurance company, regularly supplies funds for programming on the public television network. Its donations are an example of:

corporate philanthropy

A retailer that allowed its employees to handle a customer complaint without having to ask for permission or direction from management would have:

empowered its employees to help customers

When conflicts occur, try the K-I-N-D technique. Where K stands for:

kind

The pricing strategy of marking products below normal markup or even below cost to attract customers to a store where they would not otherwise shop is called _____ pricing.

leader

When conflicts occur, try the K-I-N-D technique. Where N stands for:

new

A company has achieved the level of _____ responsibilities when it has met its ethical, legal, and economic responsibilities.

philanthropic

The highest level of the corporate social responsibility pyramid is:

philanthropic responsibilities

A(n) _______ is a method or process worked out in advance that leads to the achievement of some goal.

plan

Maria Manow is planning to sell handmade quilts over the Internet. As she decides what to charge for a full-sized quilt, Manow will calculate her fixed and variable costs. At this point, Manow will be developing her _____ strategy.

pricing

A (n) _____ is any good or service that satisfies wants, along with its perceived attributes and benefits.

product

The process that products go through as they pass through their introduction, growth, maturity, and decline stages is called the:

product life cycle

In new-product development, _____ is the stage at which products that do not meet new-product goals are rejected.

screening

Products that are bought after comparing price, suitability, quality, and style are called _____ products.

shopping

Alonzo Dwork will not buy stock in a company that sells bottled water because more than 1.5 million barrels of oil are used annually to make the plastic bottles used for water, and nearly 90 percent of these bottles are disposed of after one use. Dwork is a strong believer in environmental protectionism, and this _____ is his way of expressing that belief.

social investing

Amgen, the largest biotechnology company in the world, donates millions of dollars annually to raise the value of science literacy in the community and attract bright young minds into the field of science. Since Amgen, as an employer would benefit from this philanthropy, it would be characterized as strategic giving.

true

It is a firm's responsibility to its customers to deliver what it has promised.

true

It is important to apply thought, creativity, and discipline to all the interrelated phases of our lives.

true

Which of the following way(s) helps you to determine what keywords are appropriate for your industry and job?

all of these

Buying Canon brand cameras because quarterback Archie Manning promotes that brand is an example of the use of benefit segmentation.

false

Wal-Mart has announced that it will only sell fresh and frozen fish that come from environmentally sound sources and bear the label of the Marine Stewardship Council. Wal-Mart's size gives it a unique opportunity to improve the fishing industry. This concern for _____ is one of many initiatives Wal-Mart is introducing to improve our environment.

social responsibility

All of these are tips and techniques to be an effective player in the political game EXCEPT:

Avoid doing the jobs no one else wants to do

_____ contributes to an employee's self-worth, which, in turn increases productivity and reduces absenteeism.

Empowerment

Ethics training programs typically teach how to disguise unethical behavior and not how to avoid unethical behavior.

False

When conflicts occur, try the K-I-N-D technique. Where I stands for:

Informed

Organizations can be evaluated on two basic dimensions with regard to social responsibility--legality and responsibility.

True

All careers have which of the following in common?

You need to have a basic understanding of business

In the 21st century, we define justice as:

an equitable distribution of the burdens and rewards that society has to offer

A group of investors in a retirement fund removed their money from the fund when they learned the fund manager had invested in a gambling casino. The investors' religious beliefs lead them to believe in the fundamental evil of all forms of gambling. These investors were engaging in:

social investing

Wal-Mart ran a series of ads in trade journals with the following headline: "We're Looking for Quality Products That Are Guaranteed Not to Last." What Wal-Mart was in fact doing was asking its suppliers to develop more environmentally friendly products and to use material that could be recycled. This concern about the environment is one way that Wal-Mart practices:

social responsibility

The Home Depot supplies all the materials and the labor expertise for Habitat Homes in various regions of the country where the retail giant has a store. Its top management believes that this type of philanthropy better reflects the company's commitment to the community than simple donations to the American Cancer Society and similar national charities. The Home Depot is using the practice of:

strategic giving

Listen and learn is an effective tip when you first walk into your new job.

true

Once you've developed a positive, "can do" attitude, the next step is to better understand yourself.

true

One rule of the test taking game is to act as if you will succeed.

true

One thing that all careers have in common is that you need to have a basic understanding of business.

true

The distributive process by which the burdens and rewards that society has to offer are shared varies from society to society.

true

The first step in creating an effective team is to have goals that are clear, realistic, and supported by each team member and that parallel the larger organization goals.

true

When the manufacturer of Dove soap introduced Dove moisturizing body wash, it was an example of the use of a line extension strategy.

true

Katherine Cozzine is a talented violinist. She is also pragmatic. When she graduated from high school, she chose a college that would provide her a strong business foundation even though she would have preferred to major in music. Cozzine did not know that there are over 200 music-business programs in the U.S., which would have allowed her to continue her music and prepare for a career in the industry. To Cozzine the music-business programs were ______ products.

unsought

Criticism of South Africa's post-apartheid government contends that the new government has not extended liberties to its black majority population, but has instead concentrated on proving to a white minority that a black-run administration can govern a reasonably sophisticated economy and society. The belief that the new South African government is behaving unethically is an expression of the philosophy associated with:

utilitarianism

Mamma's Diner was a small restaurant that was a popular hangout for many Bedford College students, but because of the owner's inability to make the bathroom stalls handicapped accessible for the one wheel-chair student on campus, it was forced to close down. The belief that this it was morally wrong to deprive the majority of the people of this experience is an expression of the philosophy associated with:

utilitarianism