BA 1100 Final Exam

Which of the following statements is true of an ethics code?

A written code is worthless if it does not reflect living principles.

Which of the following can be considered a business?

Davent, an online shopping portal that offers discounted prices on clothes

In the context of the history of American business, which of the following was a result of rapid industrialization in America from the mid-1700s to the mid-1800s?

Employment of skilled artisans who specialized in several tasks by factories

Which of the following theories of motivation suggests that if any link in the relationship among individual effort, individual performance, and individual reward is broken, employees will not be motivated?

Expectancy theory

Which of the following strategies for reaching global markets is a specialized type of licensing?

Foreign franchising

_____ refers to the physical components used to collect, input, store, and process data, and to display and distribute information.

Hardware

Which of the following is an example of a nonprofit organization?

Hollorg, a community museum that is funded by a trust and is free for public use

Which of the following statements is true of foreign outsourcing?

It drives down the cost of production.

In the context of primary research tools, which of the following is an advantage of survey research?

It helps you secure information about what people are thinking and feeling.

Which of the following is a drawback of primary data?

It tends to be expensive

In the context of the marketing mix, which of the following statements is true of a distribution strategy?

Its key decisions include shipping, warehousing, and selling outlets

How is asset strength measured?

Liquidity

Which of the following statements is true of human skills?

Managers with strong human skills can typically mobilize support for initiatives and find win-win solutions for conflicts.

Which line is used to calculate EPS?

Net Income

Which is most important on Cash Flows

Operating Cash Flows

Which of the following is a feature of the growth stage of a product life cycle?

Rising sales

. _____ refers to the programs that provide instructions to a computer so that it can perform a desired task.

Software

Which of the following is a key marketing strategy of the maturity phase of a product life cycle?

Targeting competitors

In the context of the history of American business, which of the following statements is true of the marketing era?

The balance of power shifted away from producers and toward customers.

When Ruben wanted to start a new online news service, he was skeptical about investing in it because of the financial crisis in his country. However, he was put at ease after learning about the government's policy of levying low federal taxes on startup businesses. In this context, which dimension of the business environment is affected the most?

The economic environment

Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?

The social environment

Which of the following statements is true of effective business communication?

The speaker should seek and understand feedback from the speaker's audience.

Which of the following statements is true of successful firms?

They deliver unsurpassed value to their customers.

Which of the following is a characteristic of entrepreneurs?

They risk their time, money, and other resources to start and manage their business.

In the context of American culture, which of the following is one of the dos for better listening?

Use your extra mental capacity to summarize what the speaker is saying.

Which of the following practices is most likely to strike the right tone in a business message?

Using common words

Which of the following statements is true of equity theory?

`It is based on perceptions, which are not always on the mark

Autocratic leadership tends to be the best option when:

a quick decision is paramount.

In the _____ form of e-commerce, firms want to develop buyer loyalty and repeat business but seldom develop a close working relationship with individual buyers.

business-to-consumer (B2C)

In the context of market segmentation, a well-chosen target market should have _____.

an appropriate size

Data mining allows organizations to:

analyze vast amounts of data to identify useful information that had been hidden.

Business-to-business (B2B) _____ refers to dividing the market based on the characteristics of buyers.

customer-based segmentation

In the context of the competitive environment of business, customer satisfaction comes in large part from:

delivering unsurpassed value

The goal of the _____ of a product is to deliver the product to the right people, in the right quantities, at the right time, in the right place.

distribution strategy

Firms create _____ by offering limited access to certain areas of their private network to a selected group of stakeholders.

extranets

Jack works in a cargo shipping company as a section leader. As a part of his job, he needs to train and evaluate the employees. He also makes sure that the employees constantly remain motivated to carry out their tasks efficiently. Thus, as a section leader, he is heavily involved in the day-to-day production process of the company. In the context of the management hierarchy, Jack is a _____ manager in the company.

first-line

Brixbee Inc., a European electronics company, has given a domestic firm in Lougard, an Asian country, the rights to manufacture and market its product within Lougard. In this scenario, Brixbee Inc. is most likely involved in _____.

foreign licensing

Long term focus for CEO

growth and people

In the context of global trade, a balance of payments deficit means that:

more money flows out than in.

In the context of active listening, one of the dos for better listening is the use of _____.

nonverbal communication

Research from the Ethics Resource Center suggests that _____ has more influence than any other variable on the ethical conduct of individual employees.

organizational culture

Trade restrictions were created to:

protect domestic industry

Ethics refer to:

sets of beliefs about right and wrong

The two broad categories of software are:

system software and application software

Geraldo is a vice president at Magnolis Inc. He, along with a few other individuals in his rank, is responsible for setting the overall direction of his company. He establishes a clear vision for the company and the milestones that the company needs to achieve over a period of time. In this scenario, Geraldo belongs to the _____ management in the management hierarchy.

top

Resorto, a European country, exported sugar worth $600 million between 2015 and 2016 and imported tea worth $750 million during the same period. In this scenario, Resorto most likely had a _____ between 2015 and 2016.

trade deficit

Which of the following statements is true of ethics?

Actions that are completely legal can still be unethical

_____ is paid, nonpersonal communication, designed to influence a target audience with regard to a product, service, organization, or idea.

Advertising

Which of the following countries exemplifies the concept of opportunity cost?

An Asian country that increases its production of sugar by decreasing its production of cocoa

Herbert, a finance analyst at a company, is asked to deliver a presentation to all employees of the company on the procedure involved in filing tax returns. He ensures to keep the language simple and does not use any financial jargon during the presentation. Instead, he uses commonly known terms to convey the message. Which of the following communication guidelines is Herbert following in the given scenario?

Avoid the use of slang

_____ are distribution organizations that facilitate the movement of products from the producer to the consumer.

Channel intermediaries

A sole proprietorship is a form of business ownership in which:

a single owner actively manages the company

A college has contracted a construction company to build a bookstore for its new campus. In the context of factors of production, the heavy machinery and equipment used by the contractor in the construction process are referred to as _____.

capital

An assumption of Theory X is that:

coercion and threats are vital to get people to work toward company goals.

A(n) _____ refers to a group of countries that have eliminated tariffs and harmonized trading rules to facilitate the free flow of goods among the member nations.

common market

In a sole proprietorship, any debts the company incurs are:

considered to be the owner's personal liabilities

In the context of consumer product categories, both producers and retailers are apt to promote _____ but to a highly targeted audience.

convenience products

The basic rules governing how a corporation is organized and how it conducts its business are known as _____.

corporate bylaws

A _____ refers to a partnership in which all partners can take an active role in managing the business and have unlimited liability for any claims against the firm.

general partnership

Unlike a sole proprietorship, a corporation:

is considered to be a legal entity that is separate and distinct from its owners

The biggest advantage of publicity is that:

it is usually credible.

Fiona, an industrial psychologist, is asked to give a presentation on the benefits of healthy colleague relationships to the employees of a textile company. In her presentation, Fiona uses various technical terms, all related to the subject of psychology, because of which the employees find it difficult to understand her and quickly lose interest in the presentation. In the given scenario, the employees of the textile company face a(n) _____ to communication.

language barrier

In the context of the history of American business, during the _____, businesses began to develop distinctive identities to help customers understand the differences among various products.

marketing era

Norman Phone Inc. is a leading cell phone manufacturer who recently launched Omn-1 model. Even before the sales of Omn-1 model could reach its peak, the company launched the next version, Omn-2. Omn-2 overtook the sales of the Omn-1 model and also of its competitors' products. This helped Norman Phone Inc. to maintain its position as a leading-edge cell phone manufacturer. This scenario demonstrates the importance of _____ as a key source of competitive advantage

speed-to-market

FreshBean is an online grocery delivery service. Its employees and customers, the farmers from whom the company obtains its products, and the people who live in the community where the company operates are FreshBean's _____.

stakeholders