BUSN for The Common Good Final Review Questions:
A fast food chain offers a contractual business arrangement in various countries around the world. This fast food chain will be an example of an international
franchise
For a virtue ethicist, which of the following would be a reason to justify why bribery is wrong?
it is contrary to developing good character
_____ is the process of further dividing a target market based on specific variables into groups to reach very specific desirable markets.
Market segmentation
A cooperative is a business controlled by
Members/owners of the cooperative
General Partnerships have the advantage of:
More talent and resources from partners
Amelia asked her accountant to prepare a summary of the company's "bottom line." What specific information is Amelia interested in?
Net income after taxes
Limited Partnership Means:
One partner runs the business, while other just invest
Ed obtains research data based on the number of unique visitors to his company's website, as well as tracking types of orders and amount of money spent. Ed is acquiring what type of research data?
Primary
Joe is developing the marketing mix for his company's new line of power tools. A brand name, price, and distribution system have been decided. Now Joe is concentrating his efforts on developing the best advertising plan for the product line. The advertising plan is part of Joe's ______ strategy
Promotional
What are sources of duties?
Roles, Relationships, Power
A(n) ______ is a transaction in which one company buys another (also discussed as one way corporate finance employees create value).
acquisition
Business decision makers can use market research to obtain data about a potential _____ in order to design effective marketing mixes.
target market
The procedures used by accountants to convert data about individual transactions to financial statements is called
the accounting cycle
From a Marketing perspective, the VALUE of a product is defined by___________
the customer
Quarterly cash payments to shareholders are known as
Dividends
_____ is a process designed to reduce inefficiency and waste that builds up in an organization over time in an effort to be more competitive.
Downsizing
It is ok for an employee to use private information about an employer for personal financial benefit.
False
Whistle blowers are always applauded and praised for their exposing of corporate unethical behavior.
False
What are the typical challenges when applying the interest (or utilitarian) avenue of ethical analysis?
Determining if trade-offs are acceptable, Determining what should be measured, Determining how to reconcile competing goods
Daniel's company needs to obtain funds in order to keep the business going; however, he does not want stockholders influencing the direction of his company. What type of financing should Daniel acquire?
Debt capital
A decision by the FDA to approve a new type of pharmaceutical is an example of:
A politcal force
One of the most common forms of segmenting consumer markets uses characteristics such as age, income, household size, and/or ethnic group. This is known as ______ segmentation.
Demographic
The Macro-Business environment impacts:
All Companies
Financial services finance careers create value with
All of these answers create value
Investment careers in finance create business value in evaluating securities in
All of these answers create value
The #1 reason why employees quit their job is......
Bad boss
Reasons for building a diverse workforce include which of the following:
Compliance with legal standards, People with diversebackgrounds bring fresh points ofview that can be invaluableDiverse workers are valuable in generating ideas and solving problems with a different perspective, Commitment to ethical standards
refers to a long-term ongoing process of training that improves an employee's personal abilities over time.
Development
Which of the following are examples of activities organizations do to act ethically?
Holding every member personally accountable for his/her own actions, Treating employees, customers, investors and the public fairly, Communicating core values and principles to all members
What are the benefits of using a systematic approach to ethical reasoning (four avenues, four lenses).
Identifying complex decisions needing more deliberation, Understanding own moral intuition, Providing arguments for communicating results
______ is the function requiring production and operations managers to balance the need to keep stock on hand to meet demand against the costs of carrying finished goods or raw materials.
Inventory Control
A limited Liability company is similar to a corporation because:
It limits liability for individual shareholders
Which of the following provides a more precise job description and defines the characteristics of the ideal candidate for the position?
Job analysis
Sole Proprietorships Represent:
Majority of all U.S. Businesses
In selecting a production facility location, labor supply would be most important to which of the following?
Software developer
Some companies do not put enough time and effort into their orientation program for new employees. If an orientation program is poor, a new employee will experience which of the following at the end of the program.
Swamped with company facts and acronyms with facts, Wondering who your coworkers are because you have not been introduced to them. e you to coworkers, Having no idea where the restrooms and cafeteria are. r of the facilities
Which of the following requirements should be met for human resources to become a competitive advantage?
They must add value to the organization
What is the typical question you would ask yourself when analyzing an ethical situation from the duty perspective?
What are my commitments to others that must be honored?
Which of the following questions should individuals address while making decisions about their career?
What are my strengths and values?
A Company's financial plan should answer all of the following questions EXCEPT:
What is the contingency plan in case of bankruptcy?
Rexton Pharmaceuticals needs to raise funds to buy new production equipment. The financial manager would probably suggest that his company raise debt capital by
borrowing money from a bank
Which of the following common business practices is roughly analogous to the interest-based avenue of ethical decision making?
cost-benefit analysis
A bakery customizes cakes for clients as well as accepts budgets within which they should be made. This is an example of a ____ production system.
customer-driven
Leonardo, Chief Financial Officer for a company, wants to take a look at the summary of expenses, revenues, and profits of the firm for the most recent quarter. He can best find this information by consulting the
income statement
Which avenue for ethical analysis (of the 4 we discussed) could be negatively affected by ignoring low probability events?
intrests
The final stage in the selection process often tends to be:
reference checks.
A business aims its promotions toward singles between the ages of 25 and 40 who reside in a specific county. The business has _____.
selected a target market
General Partnership Disadvantages Include:
shared profits, unlimited liability, potential partner disputes
A merger occurs when:
two companies combine to form a new company
John, an organization's HR manager, is making plans to offer training to his employees. To effectively proceed with the training process John should first:
understand the goals of training.