BUS 100 Final

Criticism of South Africa's post-apartheid government contends that the new government has not extended liberties to its black majority population, but has instead concentrated on proving to a white minority that a black-run administration can govern a reasonably sophisticated economy and society. The belief that the new South African government is behaving unethically is an expression of the philosophy associated with:

utilitarianism

The chain of manufacturer, agent, wholesaler, and retailer through which items towels, sheets, and rugs flow is called a(n) ______ channel.

distribution

When Mars, Inc. decided to make Snickers available in convenience stores, supermarkets, and vending machines, it was involved with determining _____ strategy.

distribution

_____ is something that prompts an individual to release his or her energy in a certain direction.

Motivation

According to the _____, a firm should first identify consumer needs and then produce the goods and services that will satisfy them.

marketing concept

A manufacturing company in which industrial engineers have maximized efficiency by determining the best way to perform every task from tightening a bolt to operating a forklift would be illustrative of:

scientific management

Wade Scott bought an AZPX brand skateboard because all of the "other guys" were buying them. Scott was influenced by a(n) _____ factor.

social

The _____ is a specific group of consumers toward which a firm directs its marketing efforts.

target market

a formal expression of the accounting equation

assets = liabilities + owners' equity

Which of the following statements identifies the key difference between a job description and a job specification?

A job description is a statement about the job, while a job specification is a statement about the person who does the job.

The _____, created by the 1964 Civil Rights Act, investigates and resolves charges of discrimination.

Equal Employment Opportunity Commission

Dividends are:

payments to the shareholders from company earnings

In seeking a balance between the opportunity for profit and the potential for loss, a financial manager is dealing with the concept of _____ trade-off.

risk-return

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

Items that groups of people use as money must be _____ to be acceptable mediums of exchange.

scarce, divisible, portable, and durable

Promotional Goals

1) retaining customers 2) increasing the use of products 3) providing information 4) creating awareness

_____ is the concern of businesses for the welfare of society as a whole.

Social responsibility

What type of market segmentation strategy was Fiat Chrysler, the manufacturer of automobiles, using when it introduced Maserati, a luxury vehicle?

demographic

Mariah Begay was walking through the mall and found a gym bag lying on the ground. The decision Begay must make as to whether to keep the gym bag and its contents for herself or turn it into the mall's lost and found department involves:

ethics

Arial Brown recently was hired by Target to help recruit, select, and train new employees to work in its stores. Brown has a job in:

human resource management

A code of ethics:

is accurately described by all of the above

Lenette Williams applied for a job at Promo Printing, which is unionized. She was told that she need not join the union and did not have to pay union dues if she did not want to. Promo Printing's labor contract supports a(n) _____ shop.

open

A(n) _____ is the financial statement that is used to assess the sources and uses of cash flow during the year.

statement of cash flows

Pricila Martinez recently inherited $300,000. She has invested the inherited money in real estate and government securities. Martinez is using her money as a:

store of value

At the base of the corporate social responsibility pyramid is:

economic responsibilities

The equity theory is concerned with:

how fairly a worker is treated compared to coworkers

The _____ is an independent, quasi-public corporation backed by the full faith and credit of the U.S. government that insures deposits in commercial banks and thrift institutions for up to a ceiling of $250,000 per account.

Federated Deposit Investment Corporation (FDIC)

_____ deals with reporting to outsiders. _____ accounting deals with the internal operations of the firm.

Financial accounting; Managerial accounting

A sales promotion that can be used if the organization's goal is to increase brand loyalty.

Frequent-Buyer Programs

an example of an unethical business activity

The employee uses the company computer to check his results in a network auction. The employee did not report his supervisor for taking several illegal deductions on his income tax report. The employee told several jokes that demeaned Polish people. The salesperson allowed the customer to believe that delivery would be within the next week when the salesperson knew that delivery was at least four weeks away.

Carlos Monell overheard his manager say, "Work is as natural as play, and workers seek more job responsibility." This statement supports:

Theory Y assumptions

_____ invest in new businesses in return for part of the ownership, sometimes as much as 60 percent.

Venture capitalists

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

Wholesalers

Financial managers focus on _____, the inflow and outflow of cash.

cash flows

The Natural Era is the manufacturer and marketer of organic beauty aids. Its annual $50,000 donation to Sierra Club in support of the nonprofit organization's pledge to preserve the environment is an example of:

corporate philanthropy

There are two types of expenses recorded on the income statement. They are:

cost of goods sold and operating expenses

Chase Hemsley works as a graphic designer. He arrives at work at 7 a.m. and goes home at 3 p.m. One of Hemsley's co-workers who performs the same job as he does arrives at work at 10 a.m. and goes home at 6 p.m. Yet another co-worker arrives at 9 a.m. and leaves work at 5 p.m. From this brief description, you should realize that Hemsley's employer uses:

job sharing

Another factor influencing business ethics is _____, or what is fair according to prevailing standards of society.

justice

Crafts R Us marked packages of yarn down to a quarter apiece to attract more customers into the store. This was below the store's cost. The packages of yarn were intended to be a _____ to increase store traffic:

loss leader

Financial managers often shift temporary funds from checking accounts to _____ securities to earn higher interest returns.

marketable

Woods Vineyards compares the actual performance of each employee with his or her expected performance. They probably use _____ to do this.

performance appraisals

The Minnesota State Fair recently held an endurance competition in which consumers held on to a 2015 Ford Mustang to see who can hold on to the car the longest to win it. An article in the local paper about the winner of the competition is an example of which promotional activity?

public relations

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

recognition

Federal Reserve banks must hold a certain portion of their deposits in reserve. This percentage is called the:

reserve requirement

Which of the following statements describes an advantage that personal selling has over other forms of promotion? a) The sales message can be varied according to the motivations and interests of each prospect. b) Personal selling can be directed only to qualified prospects. c) Personal selling costs can be adjusted by controlling the size of the sales force. d) Personal selling is considerably more effective at creating a satisfied customer than other forms of promotion. e) All of the above statements describe how personal selling is superior to other forms of promotion.

All of the above statements describe how personal selling is superior to other forms of promotion.

Let's say April Castro was recently promoted as the first woman to become a maintenance supervisor for Rendezvous Resorts. Castro has overheard negative statements from some coworkers such as, "April's promotion should keep the affirmative action people out of our hair for a while." According to the definition, does Castro have a grievance? a) Yes. She should write a formal complaint and sent it to the hotel chain CEO. b) Yes. She should report it immediately to her union steward. c) Yes. She should report it at once to her immediate supervisor. d) NO. She does not have a grievance because there is no contract violation here. e) Yes. She should encourage her employees to strike.

d) NO. She does not have a grievance because there is no contract violation here.

Financial institutions can be divided into two broad categories. These are ______ institutions.

depository and nondepository

James Dominguez will not buy stock in a company that sells bottled water because more than 1.5 million barrels of oil are used annually to make the plastic bottles used for water, and nearly 90 percent of these bottles are disposed of after one use. Dominguez is a strong believer in environmental protectionism, and this _____ is his way of expressing that belief.

social investing

Abercrombie & Fitch stores are aimed at college-aged consumers. The parent company also operates retail clothing stores under the name Hollister, which are targeted to 14- to 18-year-olds and under the name Abercrombie, which sell children's wear. Abercrombie & Fitch operate:

specialty stores

For Porcelains R Us, the manufacturer of handcrafted porcelains, its employees, suppliers of the paints used to decorate its porcelains, retailers of its products, and people who benefit from its philanthropy are all:

stakeholders

Chewy candy manufacturers are coming out with more true-to-fruit flavors, with some companies even fortifying their confections with vitamin C to make them more fruit-like. From this information, you can surmise that the chewy candy industry is in the _____ stage of the product life cycle.

maturity

A gift shop would categorize which of the following as the BEST example of a current asset?

credit card charges by book buyers

_____ is the process of negotiating labor agreements between union members and management.

e) Collective bargaining

Before marketing its new brand of candy nationwide, The Candy Co. gave out samples of the candy at several rock concerts and then recorded consumers' feelings about the candy, its taste, and its name. In which stage of the new-product development process would this have happened?

test marketing

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

the Hawthorne effect