Intro to business
Which of the following is an advantage of labor unions?
Greater benefits
The point in a system where a small correction could improve performance is called the
Leverage point
Which of the following is an advantage of offshoring?
Lower prices
The National Labor Relations Board (NLRB) grants the union the authority to negotiate with the employer if
More than 50% majority
refers to the combination of forces that moves individuals to take certain actions and avoid other actions.
Motivation
utility is the benefit provided by making the company's products available where customers want to purchase them.
Place
organizations can promote systems thinking by
Showing people how they contribute
What motivational theory supports the idea that employees like to work and are motivated by causes they believe in?
Theory Y
Which of the following helps determine the value a customer places on a product?
Utility
is a term used to separate a company from efforts that emphasize production or transaction, and includes long term interactions with satisfied customers.
relationship marketing
The defining characteristic of ________ is that it tells past customers that a product is still available or a company is ready to serve their needs.
reminder advertising
In a ________, it is illegal for unions and employers to establish contracts that require workers to join a union.
right- to- work state
According to Maslow, what type of motivational need is the need to become everything one can be?
self-actualization
What is management's top priority when having to work with unions in the organization?
staying competative
is a product development stage in which a product is sold on a limited basis to gauge its market appeal.
test marketing
The exchange of value between parties is referred to as a(n
transaction
refers to the percentage of the workforce that leaves every year.
turnover
The maturity stage of product life cycle is
usually the shortest stage in a product's lifetime
Which of the following is a risk of using outsourcing?
Control
Which of the following is a disadvantage of offshoring?
Customer responsiveness may suffer due to offshoring.
Which of the following is the best example of a good?
a pair of shoes
Buyer's remorse, in which one makes a purchase and then regrets doing so, is an example of
cognitive dissonance
A(n) ________ reports to the CFO and is the highest-ranking accountant in a company, responsible for overseeing all accounting functions.
controller
involves a financial arrangement in which companies with products sold nationally share the costs of local advertising with local marketing intermediaries.
cooperative advertising
Tasks such as calculating and analyzing the production and operating expenditures of the organization are referred to as
cost accounting
refers to a state of physical and emotional exhaustion that can result from constant exposure to stress over a long period of time.
employee burnout
Outsourcing
refers to contracting out certain business functions or operations to other companies.
Which of the following is a disadvantage of becoming a union member?
forced to fund political activities
The use of temporary and independent contractors has made ________ difficult for contemporary managers.
fostering employee loyalty
The ________ is a metaphor for discriminatory practices that have prevented women and minorities from advancing to executive level jobs.
glass ceiling
Value chains
include all the elements and processes from transforming raw materials to making the final products available to the ultimate customer.
Which of the following is an advantage of using newspapers as an advertising media?
low cost and short lead time
Which of the following allows companies to make data-driven marketing decisions?
marketing analytics
The process of collecting and interpreting information about customers, competitors, and other related marketing issues is known as
marketing research
Which of the following is an example of a company's asset?
martgage loans
Typically, labor unions seek to protect employee interests by
negotiating with employers for better wages
Assets - Liabilities =
owners equity
Which strategy encourages the consumer to seek out more information about a product, or specifically seek out a product in the promotional effort?
pull strategy
A promotional strategy that focuses on intermediaries is termed as
push strategy
Bookkeeping refers to
recording the financial activities of the business