Intro to Bus Final Exam Practice

A manufacturers' representative is sometimes called a(n):

manufacturer agent

_____ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

marketing

In _____, goods are produced using mass production techniques up to a point. Then production is custom tailored to the needs or desires of individual customers.

mass customization

Spalding produces large numbers of golf balls all at once. Spalding puts the golf balls in inventory and distributes them around the world. Spalding uses:

mass production

According to Frederick Taylor's scientific management theory, the most important motivator of the workplace is:

money

_____ is the management of the production conversion process for both goods and services.

Operations management

_____ is the combining of natural resources, human resources, and capital to produce goods and services.

Production

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

Set a Goal and acquire Knowledge

All careers have which of the following in common?

You need to have a basic understanding of business

Which of the following companies would be LEAST likely to use the continuous process?

a bakery

Which of the following organizations would analyze their market environments, find a competitive advantage, and create a marketing mix?

all of the above

A(n) _____ is a yearly document that describes a firm's financial status and usually discusses a firm's financial activities during the past year and its prospects for the future.

annual report

Operations managers:

are accurately described by all of the above

____ is the gap between what is and what is required.

A need

_____ proposed a theory of motivation based on universal human needs.

Abraham Maslow

Which of the following statements about the accounting profession is true?

Accountants are typically classified as private or public accountants.

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

Acquire Knowledge

Which of the following statements about the accounting profession is true?

All of the above statement about the accounting profession are true.

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

All of these

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

_____ is the action that people take in buying and using goods and services.

Buyer behavior

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

Definite

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

Esprit de corps

Father of Scientific Management

Frederick Taylor

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

Kind

The Theory Z style of management emphasizes:

Long term employment

Which of the following statements about Maslow's hierarchy of needs is true?

Maslow claimed an upper level of need was not activated until a lower level of need was satisfied.

Things of value owned by a firm are called its:

assets

_____ is the system used to record a firm's financial transactions in a routine and clerical process.

bookkeeping

_____ is the breaking down of large shipments of similar merchandise into smaller, more usable quantities that can be sold to consumers and end users.

breaking bulk

A(n) _____ are go-betweens that bring buyers and sellers together.

broker

An accountant who has a bachelor's degree, passes a test prepared by the professional organization AICPA, and has a certain number of years of on-the-job training becomes a:

certified public accountant

_____ is the ratio of benefits to the sacrifice necessary to obtain those benefits.

customer value

Which of the following is NOT an example of a promotional goal?

delivering the product

A firm with a _____ has its ability to provide a unique product or service that offers something of value to buyers besides simply a lower price.

differential competitive advantage

____ is the efficient management of the acquisition of raw materials to the factory and the movement of products from the producer to industrial users and consumers.

distribution

International accounting standards:

do not exist

The marketing concept:

does all of the above

Which of the following is an example of nonstore retailing?

home shopping network

A company that reupholsters furniture in fabric and style selected by the owner of the piece of furniture is more than likely an example of a:

job shop

A(n) _____ is a manufacturing firm that produces goods in response to customized orders.

job shop

Which of the following is the BEST example of process manufacturing?

lamb's wool

Which of the following is an example of in-store retailing?

none of the above

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

plan

The blend of the marketer's tools is called the five Ps. Which of the following is NOT one of the five Ps?

possession strategy

Accountants employed within organizations are called:

private accountants

The Financial Accounting Standards Board (FASB) is a:

private organization that is responsible for establishing financial accounting standards in the United States

The three main types of facility layouts are:

product, process, and fixed-position

When planning _____ strategy, a manufacturer will deal with wholesalers and retailers.

promotion

_____ is the act of informing, persuading, and reminding the target market about a product.

promotion

Which of the following is NOT an example of a hygiene factor?

recognition

_____ is a strategy that focuses on forging long-term partnerships with customers.

relationship marketing

According to Maslow, people need to feel secure, to be protected from physical harm, and to avoid the unexpected. These needs are called _____ needs.

safety

Marketing Concept

satisfies customer wants and needs legally and responsibly

The two types of retailing are:

store and nonstore

Accounting involves the _____ of the financial activities for firms.

summarizing

According to _____, workers respond to attention from superiors, and they like their opinions to be valued.

the Hawthorne effect

_____ are distribution channel members that buy finished products from manufacturers and sell them to retailers.

wholesalers

According to the Hawthorne effect,:

workers respond to being paid attention to

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

90