biz 102 final

In Capsim, corporations can raise funds by:

All of the above

Finorest, a petroleum company, was infamous for its wasteful production methods and continuous violation of the emission standards set by the Environmental Protection Agency. However, when the new CEO took over, the company completely changed its environmental philosophy and adopted an eco-friendly technology to minimize the emission of harmful gasses. In the scenario above, the company took a step toward decreasing its ____

Carbon footprint

The industries in most countries tend to produce products for which they have a(n) _____ when compared in other countries.

Comparative advantage

Planning for unspecified events, or ____ planning, is usually spearheaded by senior management with inputs from other management levels.

Contingency

Homebound, a home décor company, annually donates blankets to various nonprofit organization. These nonprofit organizations distribute the blankets among the poor. Given this information, homebound gesture is an example of:

Corporate philanthropy

ZenPlus Pharm, a pharmaceutical company, has incurred heavy losses due to the failure of its recently launched drug for arthritis. However, the sales director suggests selling the drug as a supplement under a different label. If ZenPlus modifies the label, it will put patients at risk. If the company doesn't sell the drug it will have to file for bankruptcy. This is an example of a(n) ______?

Ethical dilemma

The United States has the lowest wage gap among all developed countries.

False

The required firms with 50 or more employees to provide up to 12 weeks of job secure, unpaid leave on the birth or adoption of a child or the serious illness of a spouse, child or parent

Family and medical leave act

______ refers to the unrestricted movement of goods and services across international borders.

Free trade

Lisa just joined a company as a middle level manager. Her current hob involves coordinating a special project, which requires her to communicate clearly and lead effectively so that the members of the project stay focused and enthused. Which of the following skill sets will she draw most heavily in order to accomplish these goals?

Human skills

Which of the following is a difference between outsourcing and importing?

Importing is when a firm buys foreign products that have already been produced and outsourcing is when a firm contracts with foreign vendors to produce products

Just like in your Capsim simulation, what should a business do when it reaches its maximum production level?

Increase manufacturing capacity

In Capsim simulation which of the following will not improve your team's profits?

Issuing shares of stock

Just like in your Capsim simulation, what happens when a business sells fewe units than it produces?

It has an inventory surplus

Which of the following statements is true of sexual harassment?

It involves discrimination against a person based on his or her gender

1_____ means directing and motivating individuals to achieve organizational goals.

Leading

Just like in your capsim simulation, great process automation leads to _____ labor costs and _____ ability for customization of processes.

Lower; higher

One of the advantages of hiring younger workers is that they:

Often bring optimism and a proven ability to multitask to work

Spacein, A hard ware manufacturer is accused of deliberately creating flaws in its product design. News reports hint that the company has been doing this for years to reduce their time between consumer repurchases. In the context if social responsibility, Spacein has been accused of ____.

Planned obsolescence

As the chief of strategy for Paradyme Software, Bill Fencer has decided that the risks of software piracy in Indonesia are too high to justify a continued presence in that country. He feels that the nations laws are not sufficiently strict. Bill is unhappy with the ___ in Indonesia.

Political/legal differences

The purpose of a written code of ethics is to?

Provides guidance to help employees make sound ethical decisions across a range of situations

Chevy Automotive, a Chinese automobile manufacturing company, developed a secondary market for its products in the US. This allowed the company to minimize its losses when its primary market failed to generate enough revenue to benefit the company. In this scenario, which of the following is most likely to have influenced Chevy's decision to set a market in another country?

Reduce risk

The outdoor clothing company Patagonia Inc., pledges one percent to its annual revenue in environmental matters around the world. Founders of the company believe they have an obligation to contribute to society. This is an example of ______.

Social responsibility

A foreign automobile company was able to beat its competition by changing subtle aspects of the of the car it sold in India, such as the roof lines to accommodate motorists wearing a turban. The company's understanding of the religions/nations _____ led to its business success.

Sociocultural differences

FreshBean is an online grocery delivery service. It's 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

______, is the most fundamental part of the planning process, since all other plans stem from it

Strategic planning

An American camera manufacturing company, wanted to import a few camera parts from Russia an Adidas company. However, the American government passed a taxation law that stated that a tax of 4% would be imposed on electronic imports. In this scenario, the American government implicated a(n) _______ that will impact the profitability of the camera.

Tariff

Abram is a manager at Runa Marcus Corp., a company that runs a women's lifestyle magazines Abram's strong points are his creative writing skills and experience in photo editing software. Thus, although he is a managerial role he is able to assist the employees in these functional areas. In the context of management skills, Abram has strong _____.

Technical skills

In late 2002, a euro equaled $2.00 of U.S. currency. In late 2007, a euro equaled $1.40 compared to $2.00 US currency. This indicates that:

The value of the US dollar has weakened relative to the euro

Miguel is one of the managers in a food preservative manufacturing company. He along with a few other managers if his rank, engages in the strategic planning for the company every five years. In the context of the managerial planning, Miguel is a _____ manager.

Top level

GE actively recruits and manufactures members of the US military currently employing more than 10,000 US veterans. The firm provides special recognition and support for military employees and families before, during, and after deployments. This is an example of corporate responsibility:

True

When Lee discovered that her friend and co-worker, John, is being paid a higher hourly wage than she receives despite the fact that she they have similar qualifications and perform exactly the same type of job. It appears that other firms may be:

Violating equal pay act of 1963

Just like in you Capsim simulation, proper forecasting begins with?

a. An understanding of future projected performance b. An understanding of partial performance c. An understanding of possible threats and opportunities d. All of the above

Which of the following countries is involved in countertrade?

an Asian country that provides sugarcane to an African country in exchange for jute

Business ethics and individual ethics differ based on the fact that business ethics:

are the application of right and wrong in a business setting and individual ethics are one's personal standards of right and wrong

______, firms either acquire foreign funds or develop new facilities from the ground up in foreign countries.

direct investment

as producers of sophisticated military hardware, companies like ??? and General Dynamics are restricted from exporting to nations such as Cuba and Korea. This situation is an example of a(n)______.

embargo

affirmative action refers to a policy:

for increasing employment opportunities for people belonging to minority groups

Just like in your Capsim simulation, manufacturing production [i.e. production schedule] in business should be based on:

forecast sales less than any previous inventory

Pyramid's, a restaurant chain, markets and endorses its businesses in either countries by offering buyers the right to own its brand name, launch, and operate like restaurants in that country. It lends financial and marketing assistance to the buyers. In this scenario, Pyramid's is employing the strategy of ___ to reach global markets.

foreign franchising

Rubicon Inc., an American guitar manufacturing company, signed a contract with a supplier in Umryia, an Asian country, to manufacture guitars. Rubicon then imported these products and sold them in it markets under is own brand name. Rubicon did this because of the availability of cheap labor in Umryia that significantly cut down Rubicon's cost of production. In this scenario, Rubicon is most likely involved in _____.

foreign outsourcing

Which of the following foreign market development options represents less control and lower risk of a business

franchising

A chocolate manufacturing company promoted a high-calorie product without providing complete information about the risks involved in its consumption, in the central of business behavior, the company's business conduct was:

illegal and ethical

Flickzar, a film production company in the US, sells the distributions rights of a film to its distributors in underserved areas at rock-bottom prices, while it sells the rights of the same films to distributors in others areas at normal prices. In the contrast of business behavior. Flickzar's business practice is ______.

illegal and ethical

In your Capsim simulation, what might help a team increase sales in the current year?

increasing your marketing

every year the members of the managing committee at Wilen Inc. systematically evaluate how well the firm meets its ethics and social responsibility objectives. This process is referred to as a(n) _____?

social audit

Human resource management is the management function focused on maximizing the effectiveness of the workforce by recruiting world-class talent, promoting career development, and determining workforce strategies to boost organizational effectiveness.

true

Low employee satisfaction is an example of a potential______ for an organization

weakness

person who reports illegal or unethical behavior within an organization is known as a(n)?

whistle-blower

______ is a widely accepted social movement (that supplies) a buyer's rights to be informed, to be safe, to choose and be heard

consumerism