Bus 1201 Video Ch 1,2,3 and 5

MBSC has noticed several new trends in strength and conditioning. Often, MSBC has implemented the trend before clients even have a chance to ask about it. This demonstrates which advantage of small business?

Ability to adapt to change

Dave and the other founders of Warby Parker can be best described as __________, people who risk their time, effort, and money to start and operate a business.

Entrepreneurs

Mike Boyle's Strength and Conditioning can be described as a small business in _____.

a service industry

Joe Whinney and Theo Chocolate's view of social responsibility is one of:

a socioeconomic model.

Which of the following is not a way that Warby Parker differentiates itself from its competition?

advertising on social media

Theo Chocolate is deliberately using its organizational core competencies and resources to address key stakeholders' interests and achieve both organizational and social benefits. However, as a proponent of the socioeconomic model of social responsibility, Joe Whinney likely believes that:

businesses have the resources needed to tackle today's complex social issues.

Taobao, an Alibaba company, is a Chinese online shopping website similar to Amazon or eBay. When Alibaba goes public, Taobao shop owners will be able to sell their goods to customers in the U.S. and other countries. Taobao shop owners will be _________ their goods to other countries.

exporting

There are many reasons why entrepreneurs start businesses. Mike Boyle likely started MBSC because _____.

he had a passion for the industry

volume_upclosed_captiondescriptionfullscreen Alibaba formed a partnership with Indian mobile wallet company, Paytm, to set up an online gaming company. This _________ is Alibaba's first significant international expansion.

joint venture

Dave says that most brands of eyeglasses are owned by the same company. This illustrates which type of competition?

Monopoly

Taobao has been placed on the U.S. Trade Representative office's blacklist of "notorious marketplaces" due to the website's sale of counterfeit products and violations of intellectual property rights. If this led the U.S. to enact trade restrictions on the import of specific products from China, which of the following would they likely site as a reason?

To protect domestic jobs

While Joe doesn't consider himself _____, he does think it is important to shed light on the unethical practices occurring within the industry.

a whistleblower

Joe Whinney, the founder of Theo Chocolate, says everyone in the supply chain should be better off as a result of this delicious food. Theo Chocolate's creators believe that they have an obligation to adopt a strategic approach to fulfilling economic, ethical, environmental, and social responsibilities, which is best described as _____.

corporate citizenship

Products sold on Alibaba's website to foreign countries may be subject to taxes, or _____.

tarriffs

Warby Parker offers customers a virtual try on feature which allows them to see how they might look in a pair of glasses. This feature shows the effect of the _______ environment on business.

technology

Suppose the owners of Mike Boyle Strength and Conditioning feel that the neighboring city of Worcester, Massachusetts is a good market for another location. If MBSC were to franchise their brand, Mike Boyle could benefit from:

well-controlled distribution of the brand without spending the money to construct and operate the franchise. Feedback