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.