Intro to Business Final Review

What is the most expensive mode of transportation, but one of the fastest?

Air

Tribiotic Medical Supply sells medical equipment to pharmacies and hospitals across the country. Tribiotic is most likely selling through the _________ market.

B2B

Sean Tyson, a new manager, is told by his supervisor that he must enroll in a training course to improve his management skill set. Tyson likes to set goals and figure out how to achieve them, and he excels at deciding how to arrange tasks in the best order to get things done. In addition, he's good at motivating people to do their best, but his supervisor tells him he also needs to focus on monitoring performance outcomes and deciding whether corrective action is needed. The function of management that Tyson needs coaching on is

Controlling

Employees should be allowed to share management responsibilities, including decision making. This statement is an argument in favor of ________ employees.

Empowering

Managing by leading is still the preferred way to manage low-skill workers, such as fast-food restaurant employees.

False

Mobile marketing is essentially the same thing as social media. t/f

False

Stock market ________ are indexes of stock market prices of groups of stocks that are related in some way.

Indicators

Which of the following statements is true about planning?

It defines the responsibilities of various departments and coordinates their activities to achieve common goals.

The face value of a stock is called its

Par Value

________ segmentation categorizes business customers according to how they will use the seller's product.

Product-use-based

________ is a short-term marketing incentive to stimulate dealer interest and consumer buying.

Sales promotion

Josh Hemsworth does a great job making sure all his team members understand their roles and what they need to do to reach or exceed company goals. He also holds them accountable for their progress. Hemsworth is a ________ leader.

Transactional

Just-in-time inventory management can be enhanced through the uses of materials requirement planning.

True

________ products include those that consumers are unaware of and didn't think they needed until they did.

Unsought

What would be the best example of a company that should use an intermittent production process?

a jeweler who designs rings and bracelets per customer requirements

Dak is hired to evaluate and enhance the job routine portion of his employer's new job orientation. Which of the following best represents a key aspect to include in a job routine overview?

a review of immediate coworkers and management

The compliance manager at Tungsten Solutions is frustrated with the increasing number of recent policy violations by new employees. He asks the training director to provide suggestions on how to bridge this gap. Which of the following solutions would be most appropriate?

adding an overview of work policies to new job orientation

Which of the following options would best be described as part of a pull promotional strategy?

an advertising campaign for a new product and its features presented to consumers via television

Eggs are typically sold in a carton where each egg is in a separate compartment. This is most likely done to ________ the eggs.

avoid potential damage to

Specialists whose job it is to bring buyers and sellers together and help negotiate a transaction are called

brokers.

Costco is an example of a(n) ________ because it is a limited-function wholesaler that sells mainly to small retailers who come to the wholesaler and pay cash for a product.

cash-and-carry wholesaler.

Eldon is a union representative and is leading contract negotiations with Patriot Metals management. Eldon is most likely to discuss which of the following?

compensation for new versus tenured employees

Verizon, Sprint, T-Mobile, and AT&T often run ads that favorably highlight the speed of their service, their reliability, and their prices in relation to one another. Which of the following best describes this approach to advertising?

competitive advertising

Andrea Goldberg, a top manager at Thermal Dynamics, is appreciated by her supervisor for her ability to see the big picture and visualize how all the parts of the organization work together as a whole. She demonstrates excellent ________ skills.

conceptual

One of the three levels of innovation is

continuous innovation.

JC Penney sells a variety of products, including clothing, cosmetics, and furniture. As such, it is a(n)

department store.

Liorit has been monitoring a specific stock for the past month. He calls his broker and tells him to buy 20 shares when he feels the price is most optimum. This can be best described as a ________ order.

discretionary

JJ works as a benefits consultant at HOU Company. He has been asked to create a presentation that he can share with new employees hired into the company. Which of the following options would be the most appropriate venue for JJ to use for his presentation?

during new job orientation

Portia has a high-risk tolerance, so she decides to use futures contracts to buy lumber in spite of the fact that the United States may be placing tariffs on Canadian lumber. Portia is most likely

engaging in commodities trading.

Carla wanted to buy the expensive designer purse, but the lesser-known brand was just as cute and half the price. In which step in the consumer buying process is Carla?

evaluating alternatives

The owner at KOTAKORP currently has marketing, finance, accounting, sales, and human resources employees reporting directly to him. He hires a consultant to review the organization and makes suggestions for improvement. She suggests that the owner go through the process of departmentalization. How should the owner proceed?

he should separate the employees into units based on their teams

Fiddlestix Company has experienced rapid growth over the past year. During the annual company meeting, employees expressed frustration regarding their responsibilities. Many of the employees are confused as to which employees are responsible for which task and when they are expected to complete them. The leadership at Fiddlestix needs to

implement a hierarchy of authority.

Goldman Sachs and Morgan Stanley are examples of

investment bankers.

The CEO at Logicompany wants to lower rental costs by eliminating warehouse space. He plans to accomplish this by minimizing inventory and increasing the flow of raw materials from the Logicompany suppliers. This an example of

just-in-time inventory management.

Ballyhoo Media creates phone, radio, and television advertising for other companies around the country. What brand type does this best represent?

manufacturer

Neo Speaker Company has functional teams that report up to CEO. The product management team also directs different specialists from these functional teams on various projects throughout the year. Which of the following structures best describes the one used by Neo Speaker?

matrix

The first technology change to improve efficiency was ________; it was introduced during the Industrial Revolution, when companies began adding machines to complete the work that laborers had previously been responsible for.

mechanization

NextWave Video created a new high-definition projector. It creates an advertising campaign highlighting the improved clarity and brightness offered by the projector. Prior to starting the campaign, it shows the commercials to a test audience and monitors their brainwaves to verify a positive response. This can be best described as ________, a form of ________ data.

neuromarketing; primary

Which of the following is not one of the five divisional structure groupings?

occupational specialty

Visible marketing influences on online purchasing behavior include paid display advertising, sponsorship, paid search, and

paid stories.

There was a disturbing harassment situation at NMG Company that resulted in the termination of an employee. After the termination, senior leadership decided that significant changes where needed and asked the training and development team for a proposal. Which of the following would be most likely to appease the senior leaders?

providing a summary of company policies and laws during orientation

Columbia sells a men's t-shirt for $19.99 This demonstrates which pricing strategy?

psychological pricing

Ade works for CSAT Company. She has been recognized by management as a top performer and has been promoted numerous times. Ade's coworkers admire her as a peer, and she feels great about herself. According to Maslow, which need will most likely motivate Ade going forward?

self-actualization

Sawyer was recently hired as a junior accountant with 411 Mobile Device Company. He spends his first month training by following the different senior accountants through their day-to-day activities. This form of training is known as

shadowing.

When Apple releases a new iPhone, it often releases a captivating advertising campaign to bring awareness to the product. This statement best demonstrates which of the following factors that influence buying behavior?

situational matters

Stellan recently was promoted into a management position with KRS-One Finance. The promotion included a lsrge raise. A few weeks after his promotion, Stellan decides to buy a car. Which of the factors that influence buying behavior does this situation most likely represent?

social class

Renegade Insurance begins efforts to target the LGBTQ community, who make up a large portion of its customer base. Which external marketing forces are most likely at play in this example?

sociocultural

Agnes and Patel are HR Managers with Ciara Manufacturing. Both managers share responsibility for consulting to the production managers on human resources-related issues. Agnes and Patel would be best described as

staff personnel.

Darby is a quality assurance analyst with DFF, Incorporated. He is comparing random production samples and notices that they are outside typical quality assurance ranges. If he is following the statistical process control process, what would be his most likely response?

stop production to allow for process corrections

What process is used by the Six Sigma approach to quality control?

testing many variables relating to all company processes