Business class stuff
companies usually offer a product line instead of just one product to: a. meet the competition b. tailor their offerings more closely to consumer wants c.appeal to similar consumer markets d. reduce their marketing cost
a. meet the competition b. tailor their offerings more closely to consumer wants c.appeal to similar consumer markets
A corporation is defined as: A. an unchartered entity with authority to act apart from its owners B. a legal entity with authority to act apart from its owners. C. an unchartered entity with authority to act directly with its owners. D. a chartered legal entity with authority to act directly with its owners
B. A legal entity with authority to act apart from its owners.
Rank the form of business ownership based on ease of starting. Put the easiest from at the top. A. Partnership B.Corporation C. Sole proprietorship
C. Sole Proprietorship A. Partnership B. Corporation
True or False: If you and a friend start a business together, you have started a sole proprietorship.
False
According to equity theory, in order to restore equity or fairness to a work situation a worker may:
reduce effort on a task
The total amount of money a business takes in during a given period by selling goods and services is its: a) profit b) overhead c) revenue b) loss
revenue
in the 360-degree ___________, managers gather opinions from all around the employee and from all levels.
review
The levels in Maslow's hierarchy are physiological, _________ , social, esteem, and self-actualization needs
safety
Marketers should gather _________________ data first because it is already available and to avoid incurring expense.
secondary
fringe benefits such as on site concierge service, free haircuts, and free breakfasts are called:
soft benefits
it is important to communicate the established performance _____________ so employees know what is expected of them.
standards
Mcdonalds now sells premium coffee to compete with which company? subway panera krispy kreme starbucks
starbucks
Customers may evaluate the _____________ aspects of a product such as the product itself or the_______________aspects such as the image portrayed in advertsing
tangible aspects intangible aspects
a product mix is:
the combination of all product lines a company offers
As lower-level needs are fulfilled in Maslows hierarchy the higher-level, unmet needs become ___________.
the motivators
true or false: listening to customers is a research method using to learn what is important to them
true
________ guide peoples' decisions about how to treat one another in an honest an responsible way, whereas__________ are narrower and protect us from fruad, theft, and violence.
ethics, laws
The shifts in the US popluation
ethnic groups
When a soft drink company and a mineral water company merge and then are able to supply a variety of drinking products they have formed a(n) _____________ merger.
horizontal merger
An organization that provides goods and services while seeking to profit is a(n)________
Business
true or false: service providers do not have product lines and product mixes
false
A written summary of the minimum qualifications or skills required for workers to do a particular job is called a job ___________.
job specification
filing income tax is an example of obeying the _______, but it is only the first step in being ethical.
law
The accelerated cost of administering benefits programs has led to:
many organizations outsourcing the function
Choose the factors that are part of the technological environment. 1.Bar codes 2.Competition 3.Data interchange 4.Telecommunications
1.Barcodes 2.Data Interchange 4.Telecommunications
Which set of ethics codes emphasizes preventing unlawful behavior by increasing control and penalizing wrongdoers? A. compliance-based ethics codes B. compliance-driven ethics codes C. Integrity-driven ethics codes D. Integrity-based ethics code
A. Compliance-based ethics codes
Insiders, such as lower-level employees, who report concerns about a company's accounting or auditing practices are called: A. whistleblowers B. ethical officers C. Stockholders D. Analysts
A. Whistleblowers
Corporate social responsibility is when businesses are concerned (check all that apply) A. about being fair and honest with their stakeholders B. only with their responsibility to shareholders C. only to compete and make a profit D. for the welfare of society as a whole
A. about being fair and honest with their stakeholders D. for the welfare of society as a whole
The limited partners' risk of losing their personal assets in an LLP is: A. limited to the outcomes of their own acts and omissions B. limited to the general partner's share C. limited to the master's share D. unlimited and includes all of the liability
A. limited to the outcomes of their own acts and omissions
Which of the following would be classified as unethical behavior by employees? (check all that apply) A. personal use of internet during work hours without permission from your employer B. Frequently violating safety standards C. leaving a workstation often to take unscheduled breaks when the supervisor is away D. Working extra time to complete legitimate work projects
A. personal use of internet during work hours without permission from your employer B. Frequently violating safety standards C. leaving a workstation often to take unscheduled breaks when the supervisor is away
What kinds of organizations are involved in marketing?
All kinds of organizations use marketing, including for-profit and nonprofit organizations like states, charities, churches, politicians, and schools.
The federal law that requires employers to give applicants with physical or mental disabilities equal consideration and to make reasonable accommodation for them in the workplace is the:
Americans with disabilities act of 1990
Among the reasons that disagreements can ruin a partnerships are: (click all that apply) A. The need to pay taxes B. Arguments over dividing profits C. Opposing management styles D. Disagreement over workload
B. arguments over dividing proftis C. opposing management styles D. disagreement over workload
If a software company and snack food company merged, it would be called a(n) _______ merger.
Conglomerate merger
The three major types of partnerships are: A. Simple partnerships, limited, and unlimited B. Limited liability, corporate, and master C. General, unlimited, and master D. General, limited, and master limited
D. General, limited, and master limited
A master limited partnership looks much like a corporation because it: A. has unlimited liability B. is taxed like a corporation C. is a general partnership D. is traded on the stock exchange
D. Is traded on the stock exchange
If you start and manage a landscaping business on your own, you have likely started a: A. Partnership B. Franchise C. Corporation D. Sole Proprietorship
D. Sole Proprietorship
List the four steps of the marketing research process in order from first to last
Defining the question (the problem or opportunity) and determining the present situation. Collecting research data Analyzing the research data Choosing the best solution and implementing it.
The goal of the Civil rights act of 1964 was to stamp out _____________, but specific language made enforcement quite difficult.
Discrimination
Choose the most accurate list of steps involved in an organizations management by objective system:
Discussion, review, and evaluation of objectives
How has marketing changed over time?
During the production era, marketing was largely a distribution function. Emphasis was on producing as many goods as possible and getting them to markets. By the early 1920s, during the selling era, the emphasis turned to selling and advertising to persuade customers to buy the existing goods produced by mass production. After World War II, the tremendous demand for goods and services led to the marketing concept era, when businesses recognized Page 347the need to be responsive to customers' needs. During the 1990s, marketing entered the customer relationship era, focusing on enhancing customer satisfaction and stimulating long-term customer loyalty. Today marketers are using mobile/on-demand marketing to engage customers.
Companies conduct market research on: ecological impact of decisions Obsolete products Global trends Business trends
Ecological Impact of Decisions Obsolete prodcts Global Trends Business Trends
________ theory states that an individual will not put forth effort without first evaluating their ability to perform the task and the value they place on the reward.
Expectancy
What are some of the factors that influence the consumer decision-making process?
Factors that influence the consumer decision-making process include learning, reference group, culture, subculture, and cognitive dissonance.
List the steps of the consumer's decision-making process from first to last with the first step on the top and the step on the bottom.
Problem recognition Information Search Evaluate alternatives Purchase decision Postpurchase evaluation
The difference between a company's revenues and the expenses needed to operate the business is its: a) sales and costs b) costs c) salaries d) profit or loss
Profits or Loss
True or False: concept testing involves asking people if your product ideas appeals to them.
True
True or False: individuals have social responsibilities regarding their ethical behavior in the business world.
True
True or false: Equity judgments are subject to error from one person to the next.....
True
Companies may ire contingent workers when:
Workload is variably high and low quick service to customers is a priority there is peak demand for labor or products
when previous performance is exceeded, a gain-sharing system provides:
a bonus
According to maslows hierarchy of needs, when a lower level need has been met:
a higher level need will emerge as a motivator
Businesses are part of a counties a) economic system b) social system c) political system d) regional system
a) economic system
The Equal Employment Opportunity Act of 1972 strengthened the Equal Employment Opportunity Commission, an agency created by the Civil Rights Act of 1964, by:
a. issuing guidelines for employer conduct in complying with the EEO c. giving it broad powers to enforce the title VII d. Mandating specific record keeping procedures
costs associated with terminating employees include: check all that follow a) adhering to whistleblower laws b) lost investment in training and pay c) changes in technology d) potential for costly wrongful discharge lawsuits
b) lost investment in training and pay d) potential for costly wrongful discharge lawsuits
the elements of a country's quality of life include: a) its taxes rates b) the average minimum wage of employees c) political freedom, natural environment, education, safety, health, and amount of leisure d) the average wages of all employees minus their health care cost
c) political freedom, natural environment, education, safety, health, and amount of leisure
if a manager really supports the team process, he needs to give teams freedom to ____________ themselves when they have successfully managed themselves and achieved their goals.
reward
if a manager really supports the team process, he needs to give teams freedom to _____________ themselves when they have successfully managed themselves and achieved their goal.
reward
Sole proprietorship far outnumber ___________ and ____________, but they net far fewer sales and less income.
Partnerships and Corporations
When production capacity exceeded the immediate market demand, the business philosophy changed from the production era to the ___________ era.
Selling
which of the following are characteristics of job enrichment?
Skill variety Task Identity Task significance Autonomy Feedback
Joe has just signed a 3 year contract with his employer and owns his own home. which level of needs will he be now motivated to fill?
Social
A focus group is a group of people who meet under the direction of a discussion leader and:
communicate their opinion about an organization, its products, or other given issues.
Developing an accurate description of your business idea and asking people if the idea appeals to them is called _________testing.
concept testing
companies may hire ______________ ____________ when there is a peak demand for labor.
contigent workers
A business owned and controlled through pooled resources by the people who use it is a(n) ______________
cooperative (co-op)
companies are outsourcing the administration of benefit programs because the __________ and complexity of these programs has accelerated.
costs
The key objective of the service orientation in the marketing concept is:
customer satisfaction
In customer relationships management, you do everything you can to satify customers, or even to __________ their expectations.
exceed
The key to understanding expectancy theory is that:
expectations vary from person to person
changes in an individuals behavior resulting from previous experience is:
learning
The process of gathering information and deciding who should be hired, under legal guidelines, in the best interest of the organization and the individual is __________.
selection
An intangible products such as health care is a(n) ____________
service
which of the compensation systems listed are likely to be effective in building cohesive teams?
skill-based pay gain-sharing
combining tasks into one challenging and interesting assignment for a worker is called:
Job enlargement
Management by objectives was designed by _________ _________ in the 1960s.
Peter Drucker
Any physical good, service, or idea that satisfies a want or need is a _______________.
A Product
financial and political leaders can restore trust in the free market system by A. passing laws to make accounting records more transparent B. outsourcing enforcement of the laws to private firms C. requiring all bankers to sign ethical codes D. making businesspeople more accountable for their actions
A. passing laws to make accounting records more transparent B. outsourcing enforcement of the laws to private firms D. making businesspeople more accountable for their actions
Because of the poor publicity at a fellow franchise locations, you notive that sales at your location have decreased. The impact of the poor publicity on your company is referred to as A. the coattail effect B. change to the franchise agreement C. unlimited liability D. reinforcement of the franchise agreement
A. the coattail effect
A word, letter, or group of words or letters that differentiates one sellers goods and services from those of competitors is called the:
Brand name
A product includes anything that would enhance it in the eyes of consumers, such as the: * warranty * profit margins * brand * package
Brand, package, warranty
Which of the following are considered examples of geographic segmentation? * by the states * by income * by region * by city
By states, by region, by city
A(n) __________ is a person who risks time and money to start and manage a business.
Entrepreneur
Mark, Cal and Aidan have decided to form a business where all owners will share in operating the business and in assuming liability for the business debts. They are most likely formng a(n) _________ partnership.
General Partnership
What are some of the ways marketers segment the consumer market?
Geographic segmentation means dividing the market into different regions. Segmentation by age, income, and education level is demographic segmentation. We study a group's values, attitudes, and interests using psychographic segmentation. Determining which benefits customers prefer and using them to promote a product is benefit segmentation. Separating the market by usage is called volume segmentation. The best segmentation strategy is to use all the variables to come up with a consumer profile for a target market that's sizable, reachable, and profitable.
Small businesses can motivate employees by:
Giving employees small equity stakes Offering flexible schedules Telling them their work is appreciated
The mortgage bankers and real estate companies who helped create the financial crisis of 2008 were driven by ____________.
Greed
Lower level workers such as housekeepers in a hotel can be aided in satisfying _____ - ______ needs by discussing what the hotel would be like in their absence. This gives meaning to their jobs and their presence.
Higher-level
One way to differentiate between goods and serivces is that services such as education, insurance, and tourism are ___________, while goods such as automobiles are tangible.
Intangible
These people perform many of the activities required to move products efficiently from producers to consumers or industrial buyers and are oden wholesalers or retailers.
Intermediaries
Getting fired for refusing to support your boss's inflated expense report is a negative consequence of acting _________.
ethically
Feeling personal satisfaction because you perform well is which type of reward?
Intrinsic Reward
moving a worker from one job to another to increase variety and motivation is ________ _______.
Job Rotation
A job analysis provides the information that is the basis for a job ____________ and the qualifications needed for the job ___________
Job description, job specification
A strategy that motivates workers through characteristics of the job itself is _________ ___________.
Job enrichment
There are many methods of __________ __________ that focus on the design of the job itself in order to motivate employees.
Job enrichment
Why are B2B sales based on personal selling?
Large purchases cost more and are complex.
Stockholders' liability for losses only up to the amount they invest is called ___________________
Limited Liability
When there is one or more partners and one or more limited partners, the firm is a(n):
Limited Partnership
Management by objectives is most effective in stable situation that allow managers to make ________ - ________ plans with few changes.
Long-range
The system of goal setting and implemenation with discussion, review and evaluation of objectives is called
Management by objective
The B2B market includes:
Manufacturers, intermediaries(retailors); institutions(hospitals), schools, nonprofits; the government
In setting a products ______________, a business needs to take into account the costs of producing, distribute, and promoting the product as well as a profit margin.
Price
State governments use ____________________ to compete with other states and countries to locate businesses in their areas.
Marketing
The activities buyers and selling perform to facilitates mutually satisfying exchanges is: * business * salesmanship * finance * marketing
Marketing
What is marketing
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
When a company contracts with another, sometimes in another country, to do some of its functions, such as production or accounting, it is known as ______________
Outsourcing
One way the 2008 Americans with Disabilities Amendments Act responded to new issues that arose after initial law was passed to:
Overturn supreme court rulings that reduced protections
Identify some of the job titles that are considered contingent workers.
Part time workers Temporary workers seasonal workers independent contractors interns co-op students freelancers
The human resources management function that provides information for decisions about training, promotion, and compensation is:
Performance appraisal
which level of needs will a person be motivated to meet first?
Physiological needs
A common form of cheating in schools today that cuts and pasts information from the internet without giving credit is ______________.
Plagiarism
In setting a products _________, a business needs to take into account the costs of producing, distributing, and promoting the product as well as profit margin.
Price
What are the three parts of the marketing concept?
The three parts of the marketing concept are (1) a customer orientation, (2) a service orientation, and (3) a profit orientation (that is, marketing goods and services that will earn a profit and enable the firm to survive and expand).
An advantage of hiring contingent workers is that:
They receive fewer benefits than permanent workers They reduce costs
What is the purpose of management by objectives?
To motivate all levels of the organization through goal setting and implementation To monitor the results of implementing goals To reward the accomplishment of organization goals
True or False: A business can start in one form of ownership, but does not have to stay in that form.
True
Both manager and subordinates must ____________ the performance standards that are established.
accept
companies, especially those marketing food, must _______________ to local tastes.
adapt
___________ products to new markets is an ongoing process for marketers wishing to compete successfully.
adapting
An evaluation that measures employee performance against established standards is the performance _____________.
appraisal
When a company contracts with other companies, sometimes in another country, to do some or all of its functions, it is called: a) direct investment b) contracting c) insourcing d) outsourcing
b) contracting d) outsourcing
Which of the following types of information can legally be obtained from a job application form? Check all that apply a. marital status b. educational qualifications c. interpersonal skills d. work experience
b. educational qualifications d. work experience
Entrepreneurs who risk time and money to start and operatea business do so because they: a) want to hire additional staff b) need a large return on investment c) expect to be rewarded by making profits d) can make a quick profit and close the business
c) expect to be rewarded by making profits
(click all that apply) the purposes of nonprofit organizations include: a) increasing profits for shareholders b)increasing the stock prices per share c)filling an educational need d) filling a societal need
c) filling an educational needs d) filling a societal need
business buyers are generally more _______ and less emotional than household consumers.
rational
fringe benefits plans that allow employees to choose the benefits they want up to a certain dollar amount is a ___________ program.
cafeteria-style
the primary purpose of the appraisal is to improve employee performance by:
determining whether the employee is meeting job standards
What are some of the activities involved in marketing? developing the exchange process hiring employees adverting developing income statements
developing the exchange process advertising
Handing off various parts of a firms innovation process sometimes to companies in other countries is called ___________ product development.
distributed product development
companies today outsource administration of fringe benefit plans because:
it cost less laws in other countries require specific knowledge of benefits there plans are more complex and have more choices
select all that marketers must do the satisfy customers a. listen better b. focus on revenues c. adapt d. retain their brand symbols
listen better adapt
to satisfy customers, marketers must ___________ to them better and constantly _________ to changing market demands
marketers must listen- constantly adapt to change
in the 1950s a philosophy emerged where a business recognized the need to be responsive to consumers if they wanted to get their business. This philosophy is refered to as the:
marketing concept
The central idea of management by objectives is that employee must _______ themselves
motivate
considering an ipods look and feel, its features as well as apple reputation demonstrate a consumer evaluating the __________________________ offer.
total product offer
standards for performance appraisal must be ___________, reasonable, and subject to measurement to be effective.
understandable
what three factors must be present in performance standards?
understandable measurable reasonable
List the five steps in human resourcing planning in order from first to last, with the first steps at the top.
1. Preparing a human resource inventory 2. Preparing a job analysis 3. Assessing future human resource demand 4. Assessing future human resources supply 5. Establishing a strategic plan
According to Vroom's expectancy theory, an employee asks which of the following questions before committing maximum effort to a task?
Can i accomplish the task If i do accomplish it, whats my reward Is the reward worth the effort
_______ means acting as a resource for an employee, while ________ means actually doing part of the work
Coaching Helping
Pick out the influences in the market environment Competitive Econonmic Global Accounting
Competitive Econonmic Global
the ____________ market consists of all the individuals and households that want foods and services for personal consumption.
Consumer
The investigation of consumer thought processes at each stage in a purchase in order to determine the best way to help the buyer buy is called:
Consumer behavior
Corporate __________ is the dimension of social responsibility that refers to a position a firm takes or statement it makes on social and political issues.
Corporate "policy"
employers must know and act in accordance with the legal rights of their employees or risk costly ___________ __________.
Court Cases
True or False: corporations must be large in size to benefit from the advantages of incorporating
False
Ouchi's theory Z is based on viewing the organization as a ___________ that fosters cooperation and organizational values.
Family
Lower level workers such as housekeepers in a hotel can be aided in satisfying __________-_________ needs by discussing what the hotel would be like in their absence. This gives meaning to their jobs and their presence.
Higher-level
Helping lower-level workers like hotel housekeepers understand what the hotel would be like in their absence gives meaning to their job and presence. According to Maslow's hierarchy
Higher-level needs
Testing a product among potential users is:
Test marketing
it is unusual for a company to sell:
one product
One of the fastest-growing segments of the US population is:
over 65
examples of fringe benefits that provide additional compensation to employees beyond wages include:
paid vacation sick days life insurance
Data that you gather yourself to meet a specific need is called ______________ data
primary
Often secondary data does not provide all the information managers need for decision making, and they must gather _________________ data.
primary
telephone surveys, online surveys, and personal interviews are most common dorms of gathering:
primary
A group of products that are physically similar or are intended for a similar market are referred to as a
product line
the combination of product lines offered by a manufacturer is called the _____________________
product mix
selecting which groups or segments an organization can serve profitably is called _______________________________________.
target marketing
When two firms operating in different stages of related businesses join, it is called a(n) ____________ mergers
vertical mergers
Rank order the different eras of marketing by putting the earliest at the top to the most recent at the bottom.
1. Production 2. Selling 3. Marketing Concept 4. Customer Relationship
The internet allows a company to provide customers easy access to:
1. research information about their products 2. communicate with them directly 3. inform them of product problems
Job enrichment theory is based on the higher level motivators of which theorists?
Abraham Maslow Fredrick herzberg
One company's purchase of the property and obligations of another is called a(n): A. LLC B. Acquisition C. Partnership D. Merger
B. Acquisition
When you are faced with an ethical dilemma, what should you ask yourself? (check all that apply) A. Will it help me win? B. How will it make me feel about myself? C. Is the proposed action legal? D. Is it balanced?
B. How will it make me feel about myself? C. is the proposed action legal? D. Is it balanced?
Studies have found a ____________ correlation between academic dishonesty and dishonesty at work A. negative B. strong C. weak D. potential
B. Strong
Developing an accurate description of your product and asking people if they like the idea is called
Concept testing
Making decisions that we know are different from what is right erodes out ___________-____________.
Self-esteem
When value, attitudes, and ways of doing things results from belonging to a specific ethnic, racial, or group that one identifies closely with, it is termed
Subculture
Which of these are sources of primary data collection?
Surveys Focus Groups
True or false: concept testing involves asking people if your product idea appeals to them.
True
Flatter organizations today often reassign an employee to a new job at the same level, which is known as a(n): a) lateral transfer b) exploratory transfer c) demotion d) promotion
a) lateral transfer
Jeans bicycle repair business has been operating at a loss for several months due to high inventory cost and low sale revenues. If she continues to operate at a loss, it is likely Jean will have to ______ a) close the business b) buy more inventory c) add sales staff d) add more workers
A) close the business
Which of the following represents ethical behavior beyond what is legally required? (check all that apply) A. Investing in local communities in which a company does business B. Offering clients that best product for their needs regardless of profitability C. Paying overtime to hourly employees D. Reporting acc
A. Investing in local communities in which a company does business B. Offering clients the best product for their needs regardless of profitability.
A person who lacks moral absolutes decides what is right or wrong: A. depending on the situation B. based on societal standards of behavior C. based on religious teachings D. for their individual needs at anytime
A. depending on the situation D. for their individual needs at the time
when faced with an ethical decision what should you ask yourself? (check all that apply) A. is the proposed action legal? B. how will it make me feel about myself? C. will it increase revenues? D. it is balanced?
A. is the proposed action legal? B. how will it make me feel about myself? D. is it balanced?
The attributes of a corporation include that: (click all that apply) A. it is a legal entity B. it is state chartered C. corporate liability is separate from owners D. that it has unlimited liability
A. it is a legal entity B. it is state chartered C. corporate liability is separate from owners
The motives of those involved in unethical behavior that caused the financial crisis in the real estate, banking, and mortgage industries included: (check all that apply) A. the wish to inflate their own earnings B. assuring buyers and sellers of financially sound investments C. greed D. providing homes only to those who could afford them
A. the wish to inflate their own earnings C. greed D. providing homes only to those who could afford them
Pick out the influences in the market environment. *Accounting *competitive *Global *Economic
Accounting Competitive Global Economic
A controversial policy enforced by the EEOC was _________ action that is defined by increasing opportunities for minorities and women.
Affirmative action
An employee was fired for not carrying out an unethical request by his manager. This is an example of A. whistle-blowing by the employee B. a negative consequence of acting ethically C. using due process in a termination D. bottom up management
B. a negative consequence of acting ethically
In a leveraged buyout, employees, managers, or investors finance the purchase of the company by: A. using cash B. borrowing against its assets C. selling commodities D. selling equity
B. borrowing against its assets
Financial and political leaders can restore trust in the free market system by (click all that apply) A. requiring all bankers to sign ethical codes B. passing laws to make accounting records more transparent C. making businesspeople more accountable for their actions D. outsourcing enforcement of the laws to private firms
B. passing laws to make accounting records more transparent C. making businesspeople more accountable for their actions D. Outsoucring enforcement of the laws to private firms
According to some, the most recent financial crisis in the united states occurred as a result of the __________ business practices of greedy lenders and borrowers alike. A. transparent B. unethical C. ethical D. honest
B. unethical
Which set of ethics codes defines an organizations guiding values, creates an environment that support ethically sound behavior, and stresses shared accountability? A. Compliance-driven ethics standards B. Morality codes C. Integrity-based ethics codes D. Compliance-based ethics codes
C. Integrity-based ethic codes
Who sets the standards of right and wrong as defined by ethics? A. religious institutions B. companies C. Society D. Governments E. The world trade organization (WTO)
C. Society
The concern businesses have for the welfare of society, not just for their owners is: (check all that apply) A. called stakeholders interest B. unethical C. corporate social responsibility D. based on a commitment to integrity and respect
C. corporate social responsibility D. based on commitment to integrity and respect
Unethical behavior by financial real estate businesses has led to A. investors putting more money into both markets B. long jail terms for those who acted unethically C. lack of trust in the free market system D. gains for investors in 2008 and 2009
C. lack of trust in the free market system
Unethical behavior in business, especially in the real estate and banking industries, has resulted in (click all that apply) A. few losses to investors B. most of those who cause the crisis going to jail C. severe financial crises D. lack of trust in the free market system
C. severe financial crises D. lack of trust in the free market system
A communication tool many companies use to form diverse groups of their social responsibility efforts at little cost is _______________ A. TV advertising B. direct mail C. social media D. local newspaper ads
C. social media
According to recent US cencus Bureau research volunteerism is at an all time high, but A. 3 out of 4 citizens volunteer, but cheat on their taxes B. 4 out of 5 citizens volunteer an hour each week C. 3 out of 4 citizens think they should paid for their volunteer work D. 3 out of 4 citizens do not give any time to the communities in which they live
D. 3 out of 4 citizens do not give any time to the communities in which they live
A summary of the objectives of a job, the type of work to be done, the responsibilities, working conditions, and relationship to other functions is a(n): a. job appraisal b. job specification c. performance appraisal d. job description
D. job description
_________ make business people more accountable for their actions than knowing what is ethical A. incentives B. ethics C. higher salaries D. laws
D. laws
The process of identifying factors that can affect marketing success is called:
Environmental Scanning
What is environmental scanning?
Environmental scanning is the process of identifying factors that can affect marketing success. Marketers pay attention to all the environmental factors that create opportunities and threats
What theory is based on the idea that employees try to maintain fairness or balance between inputs and outputs as compared to others in similar positions?
Equity
A(n) _________ _________ creates a situation where you must choose between two equally unsatisfactory alternatives.
Ethical dilemmas
What is the difference between mass marketing and relationship marketing?
Mass marketing means developing products and promotions to please large groups of people. Relationship marketing tends to lead away from mass production and toward Page 348custom-made goods and services. Its goal is to keep individual customers over time by offering them products or services that meet their needs.
A corporate manager who supervises, coaches, and guides selected lower-level employees by acting as their organizational sponsor is acting as a(n)_____.
Mentor
According to Maslow, needs that have already been satisfied no longer provide ____________ .
Motivation
Job enrichment focuses on enhancing the elements most closely related to Herzberg's ____________ or higher level needs as defined in his theory.
Motivators
To which part of those theories is job enrichment most closely related?
Motivators
Marketers use age, education level, income, and taste to ________ markets.
Segment
The concept that businesses should produce as much product as they can is from what philosophie?
The Production Era
How do marketers implement the four Ps?
The idea behind the four Ps is to design a product people want, price it competitively, place it where consumers can find it easily, and promote it so consumers know it exists.
Advertising, personal selling, public relations, publicity, and word of mouth are considered to be part of:
The last of the 4 p's, Promotion.
What are some of the more important environmental trends in marketing>
The most important global and technological change is probably the growth of the Internet and mobile marketing. Another is the growth of consumer databases, with which companies can develop products and services that closely match consumers' needs. Marketers must monitor social trends like population growth and shifts to maintain their close relationship with customers. They must also monitor the dynamic competitive and economic environments.
What is the definition of the standard of living? a) The number of mortgages in default at any given time b) the amount of goods and services people can buy with the money they have c) the amount of money people owe to banks and other creditors d) the ration of debts to credit available to banks
b) the amount of goods and services people can buy with the money they have
What is the term for all of the groups that stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address? a) employees b) stockholders c) stakeholders d) shareholders
c) stakeholders
Managers can work to improve perceptions of equity by:
clarifying the results they expect from an employee communicating as clearly as possible clarifying expected outcomes from goals that are achieved
products in the same product line will tend to face similar ____________
competition
creating an upbeat, relaxed company culture helps small businesses ________ their workers instead of using monetary incentives.
motivate
According to Maslows Hierarchy of needs, after you have eaten, you no longer _________ to find food.
motivated c
companies offer soft benefits because they understand that:
employees need time with their families employees will spend more time at work employees value work-life balance
The first step in appraising employee performance is to establish performance __________
establishing performance standards
Ed has decided to purchase and follow a business format by becoming a franchisee. The _____________ ____________ will sign gives him the right to use the business name and sell the products of the the firm.
franchise agreement
sick-leave and vacation pay, pensions, and health plans that provide additional compensation are called _____________ benefits.
fringe benefits
Businesses provide help to the communities they are in by helping to provide __________, services, and jobs.
goods
Goods are ____________ products such as shoes or cars, while services are ________ products such as insurance and travel.
goods are Tangible and services are intangible
If workers perceive an ________ in the workplace they may reduce effort on a task in order to reset the balance.
inequity
The internet allows customers to gather _________________ from competitors websites to compare prices and features for products and services.
information
The initial goal of a(n) _____________ cooperative was to join together to get better prices for their food products.
"farm" cooperative
What are the steps in conducting marketing research?
(1) Define the problem or opportunity and determine the present situation, (2) collect data, (3) analyze the data, and (4) choose the best solution.
Identify which of the following would classify as Internet Plagiarism. (check all that apply) A. copying research information from an encyclopedia in the library. B. Buying research paper online and submitting them as your own C. Cutting and pasting information from a website without giving proper credit D. Copying full article content from internet sites and presenting it as your own
B. Buying research paper pnline and submitting them as your own C. cutting and pasting information from a website giving proper credit D. Copying full article content from internet sites and presenting it as your own.
The standard of versus wrong in a society are also called: A. commandments B. ethics C. religious edicts D. laws
B. ethics
The abbreviation for the business-to-business market is:
B2B
whether working for a nonprofit such as the Red Cross or a company with the goal of making profits such as Macy's, managers need a) different management skills b) the same management skills c) to know how to make a profit for shareholders d) different information management skills
b) the same management skills
What is it that entrepreneurs risk losing when they start a business? a) borrowed money b) time, but little money c) time and money d) money, but little time
c) time and money
When two firms join together to form one new company, it is called a(n) ______________
merger
What makes the business-to-business market different from the consumer market?
Customers in the B2B market are relatively few and large. B2B markets tend to be geographically concentrated, and industrial buyers generally are more rational than ultimate consumers in their selection of goods and services. B2B sales tend to be direct, and there is much more emphasis on personal selling than in consumer markets.
The law that prohibits employers from discriminating against qualified individuals with disabilities in hiring, advancement, or compensation and requires them to adapt to the workplace in necessary is the: a. equal pay act b. civil rights act of 1964, title 8 c. fair labor standards act d. Americans with disabilities act of 1990
D. Americans with disabilities act of 1990
The ADA of 2008 provides broader protections for ___________ workers
Disabled workers
in skill-based pay system it is difficult to relate the acquisition of skills directly to ___________ ____________.
Profit gains
According to a survey of recent college graduates, opportunities for __________ are important in attracting and retaining employees.
Promotion
All of the techniques sellers use to inform people about and motivate them to buy their products or services is called:
Promotion
Managers use the information on performance appraisals to make decisions about:
Promotions termination employment compensation
An important provision of the Age Discrimination in Employment Act is:
Protection of workers over 40 from discrimination in hiring Enforcement by the EEOc protection of job applicants and workers over 40 from discrimination in employment
the set of activities for obtaining the right number of qualified people at the right time to fill the needs of the organization is:
Recruitment
which of the following are ways a worker may try to reestablish fairness if he perceives that he is paid less than others with the same qualifications
Reduce his effort to achieve company goals Violate company policies about using computers for private business during work hours Increase his absences
Discrimination against a dominant majority is defined as. ___________ discrimination.
Reverse discrimination
When implementing management by objectives it is a manager's responsibility to involves everyone, commit employees to the goals, monitors process, and _________ accomplishments.
Reward
Existing data is called ___________________ data since you arent the first one to gather the data.
Secondary data
skills such as information management, leadership, marketing, and financial management are needed to manage: a) only profit making companies b) profit and nonprofit organizations c) only nonprofit organizations d) organizations serving a social cause without making profits
b) profit and nonprofit organizations
When businesses and their employees pay taxes in a community: a) public services can be decreased b) the standard of living is reduced c) there is less need for public facilities d) the quality of life is improved for many
d) the quality of life is improved for many
the cost of benefits has grown faster than __________ recently and cannot really be considered fringe anymore.
wages
