Intro to Business Final
In which of the following situations is it NOT legal to take "secondary action?"
US non-farm laborers
Around the time of its enactment, the Labor Management Relations Act was called all of the following, EXCEPT:
"An important piece of legislation"
Which of the following best defines a balance sheet?
A snapshot of a company's financial situation at a point in time
A promotion can be in the form of:
All of these answers
Suppose you are analyzing financial statements of a client. You should take into account which of the following factors?
All of these answers
The information in the statement of cash flows allows people to understand:
All of these answers
The process of destroying a target's reputation through PR is called:
All of these answers
The reason distributors embody economies of scale is that certain per unit costs are lower with each increasing unit. Which of the following costs are subject to this phenomenon?
All of these answers
Which of the following is a potential effect on a victim of sexual harassment?
All of these answers
Which of the following is the goal of using CRM software?
All of these answers
While holding on to too much inventory at once can pose a loss to the company, it is important to keep inventory on hand because
All of these answers
Which of the following is NOT included in the value a firm delivers to its customers?
All of these are part of value
Assuming you wanted to compare earnings separately from the influence of the financial leverage to the assets of the company. Which profitability ratio would you use?
Basic earning power
An interview during which the interviewer asks the applicant to reflect on past experiences is referred to which of the following:
Behavioral interview
What is the cheapest method of word of mouth promotion?
Brand advocates
A brand's action perceived by a person is called:
Brand experience
The benefits of employing a wholesale broker include all of the following, EXCEPT:
Brokers take title to the merchandise being marketed
Suppose the management at Hilton hotels was using profit optimization to better address the needs of market segments. In particular, they were focused on how to optimize the booking of a floor of hotel rooms. This level is called:
By group of goods
Newspaper vending machines pose a risk because they:
Can easily be manipulated
Psychographic segmentation can be best defined as:
Classifying consumers on the basis of individual lifestyles
Which of the following is NOT a benefit from direct selling?
Controlled marketing campaign
What type of financial manager usually oversees accounting and the budget department?
Controllers
Before deciding on using the sampling technique for new product introduction, marketers should:
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?
Design-only agency
The first step of efficient warehouse management is:
Designing the container of a product
Which type of store retailer saw a strong increase in popularity post World War II due to the growth of suburbs?
Discount houses
Which of the following is NOT a reason for passing the Equal Pay Act of 1963?
Discrimination is not morally right
In answering questions of shipping, delivery, and transport, supply chain management is addressing what type of problem?
Distribution strategy
Which stock performance ratio is the fraction of net income a firm pays to its stockholders in dividends?
Dividend payout ratio
Which of the following is NOT a characteristic of non-store retailers?
E-commerce is a shrinking channel of retail
Which of the following in NOT an aspect of brand management?
Each company uses one ad agency for all products
Which model of collective bargaining explains the union and the firm as bargaining over hours of work?
Efficient bargaining model
Which of the following is NOT required by ERISA?
Employers establishing pension plans
One of the best ways to help employees tolerate drug-testing is to:
Explain its importance in regard to safety
According to Nagle and Holden, buyers are more sensitive to the price of a product when the price is outside what they deem to be acceptable. This effect is called:
Fairness effect
Which one of the following industries is most likely to have the highest attrition rate?
Fast food
In the Steelworkers' trilogy, the supreme court concluded that:
Grievance arbitration was a preferred technique
What is it called when a product or brand is embedded in entertainment?
Guerrilla advertising
Which of the following is NOT an action of a labor union?
Helping individuals get hired
Which channel would most likely be used for an office stapler?
Producer to industrial distributor to industrial user
The marketing role that identifies customers' needs, and develops new products is called:
Product planning development
According to most sales theory, salespeople are taught to view targets as:
Prospective customers
Newspaper and magazine articles/reports, TVs and radio presentations are all examples of what type of promotion?
Public relations
Which one of the three forms of marketing has been most changed due to technology?
Relationship marketing
Assume that the total debt for Bounded Inc. was 9000 instead of 6500. How would this affect the implications of the debt ratio?
Risk would increase
In general, the cheapest form of transportation is:
Sea
Travel expenses for sales force would be placed under what category of the income statement?
Selling expenses
Which of the following methods of promotions has the most potential for good and for harm?
Social media
Job design that is focused on changing individual work to group work is called:
Socio-technical systems
Which of the following is NOT a characteristic of the service industry?
Tangible
Even with the Landrun-Griffin act in place, corruption in Unions exist because:
The Department of Labor fails to pursue action
Analyzing which financial statement will tell you about the financial health of a firm?
The balance sheet
Which of the following is NOT a characteristic of a marketing channel?
The channel institutions are solely under the control of the producer
What happens if the borrower defaults on paying back a secured loan, and the sale of the collateral is not enough to pay back the remainder of the loan?
The creditor obtains a deficiency judgement
Which of the following would be considered an intrinsic feature of the brand BMW?
The driving performance
The Taft-Hartley Act amended the NLRS in that it gave the right for:
The federal govrnment to legally break strikes?
Which of the following is NOT an implication of high debt ratio?
The firm has a lot of debt
Assume you are doing a liquidity test of a client before lending the client firm money. You realize that the quick ratio is .45. This indicates that:
The firm may not be able to meet current obligations
Which one of the following best explains the relationship between the marketing concept and market concept?
The market concept is used to fulfill the goals of the marketing concept
An employee would exercise their stock options if:
The market price is higher than the call price
The FLSA does NOT regulate which of the following:
The number of hours employees 16 years or older may work in any workweek
Media relations can best be explained as:
The relationship that a company or organization develops with journalists
The main role of distributors is:
To bridge the gap between buyer and seller
Which of the following is NOT a purpose of financial accounting?
To organize information for management
In which of the following sectors has there been a rise in labor unions membership?
US public sector
Determining the price of a good or service by the benefit that the customer receives is often referred to as:
Value-based pricing
Which of the following is NOT a situation in which premium pricing is not used to maximize profit?
Where the seller can achieve economies of scale by producing at high volume
The peak of labor union involvement occurred in what year?
1954
HRD as a process focuses on:
Both TD and OD equally
Which of the following is NOT an example of a promotion?
Pricing at a premium
Suppose the employees of a manufacturing company went on strike. Assuming that the company policy is not to negotiate with strikers, the company would most likely:
Hire replacement workers
The process of progressing an initial idea from birth to maturation can best be classified as:
Idea genesis
The main advantage for employers in offering employee benefits is:
Improve worker retention
The most important basis for creating a competitive advantages is to:
Increase value
The strategy behind intensive distribution includes which of the following:
Increased sales volume
The purpose of private sector accounting is different than that of the public sector, in that private sector accounting:
Is focused solely on profit
Initial product testing differs from test marketing because product testing:
Is initiated by the producer
Which of the following is NOT an advantage of on-the-job training?
It allows people to concentrate thoroughly on the training itself
Which of the following is NOT true about the indirect method?
It converts each item on the income statement to a cash basis
If a company is not a pioneer what type of growth strategy should it consider?
It depends on the firm and industry
What is the most effective medium of promotion?
It depends on the product
Which of the following is NOT true about revenue?
It is excluded from the income statement
Which of the following is NOT a characteristic of the commercialization stage?
It is the penultimate stage of new product development
Having a formalized sales process is important because:
It mitigates risk for both buyer and seller
In comparing pull vs. push marketing, push marketing is better because:
It reaches a wider range of consumers
Which of the following is NOT true about income statements?
It represents a single moment in time
Niche marketing is fundamentally different than most other forms of advertising because:
It targets a specific group
To be considered running at peak efficiency, the material handling system should be set up so that:
Items are touched the least amount possible
The NLRA was criticized by employers for:
Its expansive definition of employee
A method to discover the differences and similarities among jobs is called:
Job analysis
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:
Lesson study
Which of the following is NOT a federal agency the enforces the ADA?
Mine Safety and Health Administration
White male privilege is most prevalent in which type of organization?
Monolithic
Which of the following is NOT a characteristic of cost-plus pricing?
Most profitable
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-getter
Which of the following employers would NOT be covered under the ADEA?
Organization with less than 20 employees
Suppose a company brought a new product to market with price-sensitive customers, low barriers to entry, and the probability of rapid acceptance by potential buyers. Which pricing strategy would this company likely employ?
Penetration
Monitoring customer satisfaction is most important in what type of market?
Perfect competition
The four P's of marketing are:
Price, Product, Place, Promotion
Which of the following is an accurate depiction of the last sixty years of the American labor movement?
While the male involvement in labor unions has declined, female involvement is higher than ever