Intro to business

Which of the following is an advantage of labor unions?

Greater benefits

The point in a system where a small correction could improve performance is called the

Leverage point

Which of the following is an advantage of offshoring?

Lower prices

The National Labor Relations Board (NLRB) grants the union the authority to negotiate with the employer if

More than 50% majority

refers to the combination of forces that moves individuals to take certain actions and avoid other actions.

Motivation

utility is the benefit provided by making the company's products available where customers want to purchase them.

Place

organizations can promote systems thinking by

Showing people how they contribute

What motivational theory supports the idea that employees like to work and are motivated by causes they believe in?

Theory Y

Which of the following helps determine the value a customer places on a product?

Utility

is a term used to separate a company from efforts that emphasize production or transaction, and includes long term interactions with satisfied customers.

relationship marketing

The defining characteristic of ________ is that it tells past customers that a product is still available or a company is ready to serve their needs.

reminder advertising

In a ________, it is illegal for unions and employers to establish contracts that require workers to join a union.

right- to- work state

According to Maslow, what type of motivational need is the need to become everything one can be?

self-actualization

What is management's top priority when having to work with unions in the organization?

staying competative

is a product development stage in which a product is sold on a limited basis to gauge its market appeal.

test marketing

The exchange of value between parties is referred to as a(n

transaction

refers to the percentage of the workforce that leaves every year.

turnover

The maturity stage of product life cycle is

usually the shortest stage in a product's lifetime

Which of the following is a risk of using outsourcing?

Control

Which of the following is a disadvantage of offshoring?

Customer responsiveness may suffer due to offshoring.

Which of the following is the best example of a good?

a pair of shoes

Buyer's remorse, in which one makes a purchase and then regrets doing so, is an example of

cognitive dissonance

A(n) ________ reports to the CFO and is the highest-ranking accountant in a company, responsible for overseeing all accounting functions.

controller

involves a financial arrangement in which companies with products sold nationally share the costs of local advertising with local marketing intermediaries.

cooperative advertising

Tasks such as calculating and analyzing the production and operating expenditures of the organization are referred to as

cost accounting

refers to a state of physical and emotional exhaustion that can result from constant exposure to stress over a long period of time.

employee burnout

Outsourcing

refers to contracting out certain business functions or operations to other companies.

Which of the following is a disadvantage of becoming a union member?

forced to fund political activities

The use of temporary and independent contractors has made ________ difficult for contemporary managers.

fostering employee loyalty

The ________ is a metaphor for discriminatory practices that have prevented women and minorities from advancing to executive level jobs.

glass ceiling

Value chains

include all the elements and processes from transforming raw materials to making the final products available to the ultimate customer.

Which of the following is an advantage of using newspapers as an advertising media?

low cost and short lead time

Which of the following allows companies to make data-driven marketing decisions?

marketing analytics

The process of collecting and interpreting information about customers, competitors, and other related marketing issues is known as

marketing research

Which of the following is an example of a company's asset?

martgage loans

Typically, labor unions seek to protect employee interests by

negotiating with employers for better wages

Assets - Liabilities =

owners equity

Which strategy encourages the consumer to seek out more information about a product, or specifically seek out a product in the promotional effort?

pull strategy

A promotional strategy that focuses on intermediaries is termed as

push strategy

Bookkeeping refers to

recording the financial activities of the business