Intro to Business EHS

Having a formalized sales process is important because: It mitigates risk for both buyer and seller There is certainty in the buyers' specific needs Economies of scale Every sale is exactly the same

It mitigates risk for both buyer and seller

In comparing pull vs. push marketing, push marketing is better because: Push marketing is never better The consumers receiving it are already interested It reaches a wider range of consumers There are no ethical issues

It reaches a wider range of consumers

The most acceptable and liquid measure of the money supply is typically classified as M1. MB. M2. M0.

MB.

According to the U.S. Small Business Administration, what percentage of businesses fail within the first four years of launching? 33% 75% 68% 56%

56%

Computer fraud is when one obtains an unauthorized benefit by: Suppressing output Altering computer input Deleting stored data All of these answers

All of these answers

The process of destroying a target's reputation through PR is called: Negative public relations Smear campaign All of these answers Dark campaign

All of these answers

What is the cheapest method of word of mouth promotion? Viral marketing All of these answers Influencer marketing Brand advocates

Brand advocates

Inventory management is needed to address the following concerns, EXCEPT: Quality management Carrying costs of inventory Defective goods Budget surplus

Budget surplus

Under what circumstance can corporations legally evade double taxation? A. In some systems, dividends are taxed at a lower rate B.S corporations C The recipient of the dividend is entitled to a tax credit in some countries D. All of these answers

D. All of these answers

Low-level managers are NOT responsible for which of the following: A.Supervising employees on day-to-day activities B.Upchanneling employee problems C.Providing performance feedback D. Designing and implementing reward system

D. Designing and implementing reward system

Automating the processing of large information and simplifying access to it, is referred to as: Information seeking Information architecture Information management Information access

Information access

Which one of the following is a characteristic of the service sector? Intangible products Tangible products Standardized products Little customer contact

Intangible products

If a company is not a pioneer what type of growth strategy should it consider? Intensification It depends on the firm and industry Vertical integration Horizontal integration

It depends on the firm and industry

What is the most effective medium of promotion? Special events It depends on the product Endorsements Social media

It depends on the product

Among the various approaches to profession development, one approach calls for solving practical dilemmas relating to instruction through participation with other professionals in examining practice. This approach is called: Consultation Case study Mentoring Lesson study

Lesson study

Logistics management encompasses all of the following EXCEPT: Warehousing Security Integration of information Manufacturing

Manufacturing

What is the main goal of corporate finance? Build company profit Maximize shareholder value Balance assets and liabilities Ensure proper financial methods are used

Maximize shareholder value

Suppose your role at an insurance firm is to enlist 100 individuals per year in health insurance. You would most likely be classified as a(n): Order-creator Order-getter Marketer Order-taker

Order-getter

What is one of the potential results of enabling risk? All of these answers Improved competitiveness Overspending Underspending

Overspending

The marketing role that identifies customers' needs, and develops new products is called: Customer support services Product planning development Promotion Marketing planning

Product planning development

According to most sales theory, salespeople are taught to view targets as: Unknowledgable Strangers Well-prepared Prospective customers

Prospective customers

Newspaper and magazine articles/reports, TVs and radio presentations are all examples of what type of promotion? Public relations Corporate image Sales promotion Advertising

Public relations

Which of the following characteristics is NOT conducive with entrepreneurial drive? Passion Risk aversity Self-discipline Vision.

Risk aversity

Which of the following is NOT a result of technological change in supply chain optimization (SCO)? SCO now incorporates computer-based mathematical modeling techniques SCO now forecast at a granular level SCO now focuses on delivering products to customers at low cost and high profit SCO vendors now run the software on behalf of clients as service providers

SCO now focuses on delivering products to customers at low cost and high profit

Suppose you are a loan officer with a conservative approach to lending. What is the safest type of loan to give? Secured/senior debt Secured/subordinated debt Unsecured/subordinated debt Unsecured/senior debt

Secured/senior debt

When a few suppliers' credentials and history are analyzed with the purpose of selecting one, it is called: Blanketing Shopping Mastering Buying

Shopping

Which of the following methods of promotions has the most potential for good and for harm? Newspapers E-books Websites Social media

Social media

According to Elton Mayo, the lesson from the Relay Assembly experiments was: The importance of monitoring No conclusive lesson The effect of special treatment The power of teams

The power of teams

Media relations can best be explained as: The relationship between an organization and the public The same as public relations Finding, attracting and winning clients The relationship that a company or organization develops with journalists

The relationship that a company or organization develops with journalists

Which of the following is not an area in which goals affect outcomes? effort persistence choice affection

affection

Which of the following is not an area in which goals affect outcomes? persistence effort affection choice

affection

Money functions as a "unit of account" because it is considered legal tender that functions for the discharge of debts. considered a unit of value that remains stable over time. usable as a medium when it is saved, stored, and retrieved. considered a "measure" or "standard" of relative worth and deferred payment.

considered a "measure" or "standard" of relative worth and deferred payment.

The Deposit Insurance Fund was created in 2006 primarily to prevent market participants from buying and selling funds in order to profit from the differences in price. enforce two different prices for government-mandated deposit insurance. ensure the amount each institution is assessed is based on the balance of insured deposits and degree of risk the institution poses to the insurance fund. prevent another savings and loans crisis similar to the one during the 1980s.

ensure the amount each institution is assessed is based on the balance of insured deposits and degree of risk the institution poses to the insurance fund.

The Federal Reserve has the statutory authority to take formal enforcement actions against all of the following EXCEPT officers, directors, and employees. foreign banking organizations operating outside the U.S. nonbank subsidiaries of bank holding companies. foreign banking organizations operating in the U.S.

foreign banking organizations operating outside the U.S.

A direct bank provides financial services via all of the following EXCEPT in-person bank representatives. mobile banking. ATMs. telephone banking.

in-person bank representatives.

An organization where the liability of the business owners is limited to the full, paid-up value of the share capital is referred to as a limited liability. partnership. unlimited liability. public limited liability.

limited liability.

Before deciding on using the sampling technique for new product introduction, marketers should: Define the objectives of the sampling program Follow trends in their industry Sell the product in "trial size" containers Offer free samples through websites

Define the objectives of the sampling program

Assuming you own a small business with a low budget for advertising. What type of agency might you employ? Full-service agency Creative agencies Design-only agency Specialization agency

Design-only agency

John owns an emergency response non-profit of 10 employees. The service they provide is homogeneous and time-sensitive. He recognizes he must utilize speed and efficiency in making decisions across the organization. He should employ: A divisional organizational structure A decentralized organizational structure A functional organizational structure A centralized organizational structure

A centralized organizational structure

What is the difference between a jury and a committee? Committees have more power over an organization. Jury's have more power over an organization. A committee will perform functions after the decision, while a jury is decision only. A jury is randomly selected while a committee is appointed.

A committee will perform functions after the decision, while a jury is decision only.

Which organizational structure is best utilized by large companies in pursuit of scope economies? Functional Bureaucratic Matrix Divisional

Divisional

Successful small business owners often need a high level of _______, due to the high likelihood of drawbacks and failure. Social skills Capital Autonomy Perseverance

Perseverance

Monitoring customer satisfaction is most important in what type of market? Oligopoly Monopoly Monopolistic competition Perfect competition

Perfect competition

Which of the following is an example of external financing? Joint utilization Sweat equity Owner financing Venture capital investing

Venture capital investing

In response to economic conditions, employment in small businesses A. increases when the economy is doing well and decreases when the economy struggles. B.remains flat when the economy is doing well, but increases when the economy struggles. C. declines when the economy is doing well and increases when the economy struggles. D. increases when the economy is doing well, but remains flat when the economy struggles.

declines when the economy is doing well and increases when the economy struggles.

Effective organization promotes a high level of _______. A.efficiency B.notoriety C.profit D.specialization

A.efficiency*****

Which of the following is NOT true about cooperatives? A. Co-ops only exist in agriculture B.Consumers and business owners usually have aligned goals C.They usually have greater bargaining power D.Co-ops strive to increase profits for producer-members and lower costs for consumer-members

A. Co-ops only exist in agriculture

Which of the following is NOT true about NAFTA? A. NAFTA helps the US, but harms Mexico B.It allows agricultural goods to be tarrif-free C. More than 1/2 of tariffs on Mexican exports to the US were immediately eliminated D.It is currently the largest trade bloc in terms of GDP

A. NAFTA helps the US, but harms Mexico

In which of the following areas do nonprofits NOT play a role? A. stock exchanges B. the arts C. economic development D. health and wellness

A. stock exchanges*****

Continuous deployment is a process, which: All code that is written for an application is immediately deployed into production Information is provided regarding the performance of new products in extreme settings Different versions of a product are offered to customers at the same time Version of a new product is deployed which allows a team to collect the maximum amount of learning

All code that is written for an application is immediately deployed into production

Which of the following statement is NOT true about increasing financial leverage? Adding leverage to a given asset always adds risk A public corporation leverages equity by borriwing more money All of these answers are true A leveraged firm is definitely more risky than an unleveraged firm

All of these answers are true

New technologies are allowing more women and young people to start businesses. This is mainly because new developments in technologies allow for businesses to be scaleable across different regions. Correct! All of these answers. new developments in technology allow entrepreneurs to start businesses with less capital. shipping companies such as FedEx allow businesses to be replicated in different cities globally.

All of these answers.

An effective press release should include which of the following information? A. Date, time, and location of event B. All of these answers. C.Attention-grabbing language D.Background information about company

B. All of these answers.

Which of the following best describes the relationship between a firm and the consumer in a market economy?A. A firm is only able to exist in competition with other firms in B. A firm survives by producing goods that consumers are willing and able to buy. C .The market may limit the number of firms, and therefore limit consumer choice D. The market may limit the number of firms, and therefore limit consumer choice

B.A firm survives by producing goods that consumers are willing and able to buy.*****

A company might put money in FDI because: A. Cheap labor B.All of these answers C.High return D.Tax advantage

B.All of these answers

Which approach to calculating GDP involves summing the outputs of every class of enterprise? A. the product approach B. the expenditure approach C. the income approach D. none of these answers

C. the income approach

What technological development has allowed individuals to meet "face-to-face" over the Internet and have discussions related to a project they are working on together? A. automation B."open" movements C. videoconferencing D. information technology

C. videoconferencing

When considering a merger and acquisition, businesses must consider which of the following factors? A.Increased willingness to pay B.Shared activities C.All of these answers. D. Economies of scale

C.All of these answers.

Which of the following is NOT required by ERISA? Participants have the right to sue for benefits Employer plans to provide participants with plan information Employers establishing pension plans Employers establishing a grievance and appeals process

Employers establishing pension plans

A grocery store manager ensures all functioning of the front end and produce department are executed properly. This type of manager is considered which level? First-level managers Top-level managers Low-level managers Middle-level managers

First-level managers

There area variety of methods to alleviate friction in the adaptation process. Which is defined as collecting quality data from different departments through sharing opinions and experiences? Strategy meetings Focus groups Step-by-step approach Training

Focus groups

What is it called when a product or brand is embedded in entertainment? Mobile advertising TV commercial Guerrilla advertising Radio advertising

Guerrilla advertising

All of the following are advantages of commercial paper, EXCEPT: High credit limit Liquidity options Low borrowing cost Term flexibility

High credit limit

Which of the following best characterizes the last 80 years of Taylorism? It is gaining in popularity in recent years Taylorism lost its appeal in the 1920s but has since been rising in use It has become obsolete as a theory but parts of it are still relevant It has become completely obsolete and has not been used since the 1930s

It has become obsolete as a theory but parts of it are still relevant

How do management information systems (MIS) relate to decision making? All of these answers MIS combine informational technology, people and data to help effective decision making Companies use MIS for supply chain manage MIS sets forth the decision making process

MIS combine informational technology, people and data to help effective decision making

Which of the following is NOT a federal agency the enforces the ADA? The Equal Employment Opportunity Commission The Department of Justice Mine Safety and Health Administration The Department of Transportation

Mine Safety and Health Administration

White male privilege is most prevalent in which type of organization? Multicultural Monolithic Plural All of these answers

Monolithic

Job sharing is good for people who want: Complete autonomy All of these answers More free time More hours of work

More free time

Forward scheduling can be best explained as: Planning many tasks months ahead of time to ensure adequate preparation Planning tasks from when resources become available to determine due date Planning tasks from the due date or required-by date to determine start date Planning for multiple steps in the production price ahead of time

Planning tasks from when resources become available to determine due date

Programs specifically designed to monitor users' web browsing is called: Worms Adware Spyware Viruses

Spyware

Which one of the following best explains the relationship between the marketing concept and market concept? The marketing concept is a different strategy to marketing than is the market concept They are exactly the same The marketing concept is used to fulfill the goals of the market concept The market concept is used to fulfill the goals of the marketing concept

The market concept is used to fulfill the goals of the marketing concept

Industries with a high concentration of small businesses generally require little investment capital up front. physical product or material. service products that can be resold to consumers. enormous capital investment up front.

little investment capital up front.

Complete the following sentence. Tariffs, as they relate to global trade, are: A. A complete ban of imports B.Limits on exports C.Taxes on imports D.Political weapons

C.Taxes on imports

Which of the following is NOT a component of GDP by expenditure? A.consumption B.government spending C. exports D.per capita income

D.per capita income *****

The one reason MNC can be harmful for the host country is: A. They obtain strong negotiating power with local government B. They pay less than local labor rates C.They raise unemployment levels D.They often avoid taxes

A. They obtain strong negotiating power with local government

A measure of the benefit that an economic actor can gain from either a good or service is __________. A.economic value B.normal profit C.profit maximization D.economic profit

A.economic value*******

Government regulation includes controls on all of the following EXCEPT _______. A.market failures B.pollution effects C.market entries D.development approvals

A.market failures

According to economist Milton Friedman, the main purpose of a business is to_______. A.maximize profits for its owners. B.balance profit-making objectives with other ends C.spur innovation D.benefit society

A.maximize profits for its owners.* ****

To determine the tone of a letter, memo, proposal, or other business communication, the writer must consider A.the purpose of the communication. B.the wording and lettering of the communication. C.the size of the audience. D. the timing of the communication.

A.the purpose of the communication.

Which of the following is considered an example of a market stakeholder? A.customers B. all of these answers C.creditors D. suppliers

B. all of these answers*****

The difference between a firm's total revenue and all costs represents ________. A. economic value B. economic profit C. normal profit D.profit maximization

B. economic profit*****

Which of the following is NOT an example of a category of economic indicator? A. earnings reports B. policy briefings C. economic summaries D. indices

B. policy briefings*****

Which of the following is a situation in which a stockbroker who owns a security artificially inflates its price by "upgrading" it or spreading rumors, sells the security and adds a short position, then "downgrades" it or spreads negative rumors to push its price down? A.self-dealing B.short selling C.pump and dump D.insider trading

C.pump and dump

Which of Andrew Carnegie's business principles advocates that the rich hold their money "in trust" for the rest of society, using it for any purpose society deems appropriate? A. ethical decision-making B.charity C.stewardship D.social responsibility

C.stewardship

When choosing what and how to write to a target audience, an organization's first goal should be A. ensuring that readers grasp the messaging quickly and accurately. B. using specialized terms specific to the organization's industry. C.using messaging that resonates with the cultural background of the readers. D. choosing plain words over fancy ones.

A. ensuring that readers grasp the messaging quickly and accurately.

What type of companies do individuals tend to want to work for? A. ones in which ethical dilemmas are minimized B. ones which disregard environmental responsibility C. ones in which there are pressures to act in an unethical way D. ones which display no ethical track record

A. ones in which ethical dilemmas are minimized

Which of the following makes it difficult for franchisors to control the activities of franchisees? A.Franchisees may be required to buy supplies and equipment from the franchisor. B. Franchisees and franchisors are often separated by geography. C. Some franchisors have more interest in collecting fees than in investing in franchisees' success. D. Franchisees must pay fees and royalties to the franchisor.

B. Franchisees and franchisors are often separated by geography.

Economic growth is conventionally measured as the percentage rate of increase in what economic measure? A.demand B. GDP C.inflation D.deflation

B. GDP

Which of the following is a primary advantage of using transparencies in business presentations? A. Transparencies allow for colorful, attractive designs for viewers. B. Transparencies allow speakers to write while talking toward the crowd. C. Transparencies are beneficial for large audiences. D.Transparencies can be used to record audience responses.

B. Transparencies allow speakers to write while talking toward the crowd.

Melissa is in the middle of delivering a sales presentation to her company. She notices that some of the listeners look confused. Before moving on with the rest of her presentation, Melissa should A. avoid using fillers such as "um" and "uh" when delivering her next point. B. ask the audience if they understand her message before moving on to the next point. C. skim over the faces of her audience. D.smile and maintain eye contact with the audience

B. ask the audience if they understand her message before moving on to the next point.

The controlling process is responsible for which of the following: A.Organizing teams to produce specific results B.Evaluating whether or not goals have been met C.Planning future goals for the company D.Leading teams in the completion of work assignments

B.Evaluating whether or not goals have been met

When we say that growth is calculated in real terms, what do we mean? A.It is adjusted for unemployment. B.It is adjusted for inflation.**** C.It is adjusted for supply. D.It is adjusted for demand.

B.It is adjusted for inflation.****

Which one of the following is NOT considered a basic principle of conceptual skills? A.Seeing the enterprise as a whole B.Motivating employees on day-to-day activities C.Understanding the relationship between the various parts of the organization D. Recognizing that changes in one part of the organization affects all the others

B.Motivating employees on day-to-day activities

Which of the following is a term that helps us to understand the difference between a conflict of interest and impropriety? A.pump and dump B.conflict of roles C.self-dealing D.outside employment

B.conflict of roles

HRD as a process focuses on: Training and development (TD) None of these answers Both TD and OD equally Organization development (OD)

Both TD and OD equally

How is a stakeholder different than a shareholder? A. A shareholder is an owner or an employee of the company, whereas a stakeholder is any individual or group with an interest in the company's operations and / or output. B. A shareholder is an owner of the company, whereas a stakeholder is an employee of the company. C. A shareholder is an owner of the company, whereas a stakeholder is any individual or group with an interest in the company's operations and / or output. D. A shareholder is an employee of the company, whereas a stakeholder is an owner of the company.

C. A shareholder is an owner of the company, whereas a stakeholder is any individual or group with an interest in the company's operations and / or output.*****

Which of the following is NOT true of a sole proprietorship? A. More than 75% of all U.S. businesses are sole proprietorships. B. Every asset of the business is owned by the proprietor, and all debts of the business are the proprietor's. C. A sole proprietor may only use his or her legal name for the business. D. The individual entrepreneur owns the business and is fully responsible for all its debt

C. A sole proprietor may only use his or her legal name for the business.

The theory of competitive advantage can best be explained as suggesting that: A. Businesses create low-quality goods to sell at high prices in the market B. Businesses create low-quality goods to sell at low prices in the market C. Businesses create high-quality goods to sell at high prices in the market D.Countries should specialize in exporting primary goods and raw materials

C. Businesses create high-quality goods to sell at high prices in the market

Which of the following is NOT a benefit of contract manufacturing? A. Saving money on capital costs B. Potential for economies of s C. Complete control of production D. Taking advantage of the CM's skills

C. Complete control of production

Customer Experience Management (CEM) , as opposed to Customer Relationship Management (CRM), focuses on which of the following: A. Price B. Enterprise process C. Customer needs D. Product

C. Customer needs

What type of unemployment occurs during the time period between jobs when a worker is searching for or transitioning from one job to another? A.cyclical B.structural C.frictional D.ideal

C.frictional

IT is changing the basis of business from labor and manual skills to _________. A.social media expertise B.global collaboration C.knowledge management D.knowledge of videoconferencing

C.knowledge management* ****

Psychographic segmentation can be best defined as: Classifying consumers on the basis of individual lifestyles Classifying consumers by variables of climate, region, and population density Classifying consumers on the basis of age Classifying consumers by variables as attitudes toward the product

Classifying consumers by variables of climate, region, and population density

Which of the following would most likely cause unethical behavior? A.an employee using his or her own judgement B.a manual that is unconcerned about real ethical dilemmas C. a seminar regarding business conduct D. a competitive business environment

D. a competitive business environment

According to Adam Smith, the party which can produce more of a good or service than competitors while using the same amount of resources, is said to have: A. Balance of trade B. No trade C. Comparative advantage D.Absolute advantage

D.Absolute advantage

The term balance of trade incorporates the measure of which of the following? A. Imports B. Currency C. Exports D.Imports and Exports

D.Imports and Exports

What is a short-term and quite rare occurrence in one's business experience? A.the need to survive B.a philosophical idea of the mind C.an ideal ethical action D.an ethical lapse

D.an ethical lapse

If the presentation is more formal, the speaker should open his or her speech with a(n) A. statistic. B. personal story. C. joke. D.overview.

D.overview.

Stakeholder theorists believe that______. A. a business is essentially someone's property, and, as such, that its owners have the right to dispose of it as they see fit B. the enterprise being run by employees and managers as a kind of representative democracy C. business can be viewed to exist for the purpose of creative expansion D.people outside of the business enterprise (e.g., consumers) ought to have a say in how the business operates

D.people outside of the business enterprise (e.g., consumers) ought to have a say in how the business operates****

What belief has driven customers, businesses, home buyers, and the U.S. government itself to rely increasingly on debt? A. that personal income would continue to increase B. that tax dollars would continue to increase C. that there would be a low risk of bankruptcy D.that the value of their investments would continue to grow

D.that the value of their investments would continue to grow****