Intro to Bus Final Exam Practice
A manufacturers' representative is sometimes called a(n):
manufacturer agent
_____ is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.
marketing
In _____, goods are produced using mass production techniques up to a point. Then production is custom tailored to the needs or desires of individual customers.
mass customization
Spalding produces large numbers of golf balls all at once. Spalding puts the golf balls in inventory and distributes them around the world. Spalding uses:
mass production
According to Frederick Taylor's scientific management theory, the most important motivator of the workplace is:
money
_____ is the management of the production conversion process for both goods and services.
Operations management
_____ is the combining of natural resources, human resources, and capital to produce goods and services.
Production
Amanda is interested in building her interpersonal skills. She should focus on all of these EXCEPT:
Set a Goal and acquire Knowledge
All careers have which of the following in common?
You need to have a basic understanding of business
Which of the following companies would be LEAST likely to use the continuous process?
a bakery
Which of the following organizations would analyze their market environments, find a competitive advantage, and create a marketing mix?
all of the above
A(n) _____ is a yearly document that describes a firm's financial status and usually discusses a firm's financial activities during the past year and its prospects for the future.
annual report
Operations managers:
are accurately described by all of the above
____ is the gap between what is and what is required.
A need
_____ proposed a theory of motivation based on universal human needs.
Abraham Maslow
Which of the following statements about the accounting profession is true?
Accountants are typically classified as private or public accountants.
Which of the following is the second step of the planning process?
Acquire Knowledge
Which of the following statements about the accounting profession is true?
All of the above statement about the accounting profession are true.
Which of the following is (are) a way(s) help you learn how to concentrate?
All of these
All of these are tips and techniques to be an effective player in the political game EXCEPT:
Avoid doing the jobs no one else wants to do
_____ is the action that people take in buying and using goods and services.
Buyer behavior
When conflicts occur, try the K-I-N-D technique. Where D stands for:
Definite
______ refers to a shared enthusiasm and devotion to the group.
Esprit de corps
Father of Scientific Management
Frederick Taylor
When conflicts occur, try the K-I-N-D technique. Where K stands for:
Kind
The Theory Z style of management emphasizes:
Long term employment
Which of the following statements about Maslow's hierarchy of needs is true?
Maslow claimed an upper level of need was not activated until a lower level of need was satisfied.
Things of value owned by a firm are called its:
assets
_____ is the system used to record a firm's financial transactions in a routine and clerical process.
bookkeeping
_____ is the breaking down of large shipments of similar merchandise into smaller, more usable quantities that can be sold to consumers and end users.
breaking bulk
A(n) _____ are go-betweens that bring buyers and sellers together.
broker
An accountant who has a bachelor's degree, passes a test prepared by the professional organization AICPA, and has a certain number of years of on-the-job training becomes a:
certified public accountant
_____ is the ratio of benefits to the sacrifice necessary to obtain those benefits.
customer value
Which of the following is NOT an example of a promotional goal?
delivering the product
A firm with a _____ has its ability to provide a unique product or service that offers something of value to buyers besides simply a lower price.
differential competitive advantage
____ is the efficient management of the acquisition of raw materials to the factory and the movement of products from the producer to industrial users and consumers.
distribution
International accounting standards:
do not exist
The marketing concept:
does all of the above
Which of the following is an example of nonstore retailing?
home shopping network
A company that reupholsters furniture in fabric and style selected by the owner of the piece of furniture is more than likely an example of a:
job shop
A(n) _____ is a manufacturing firm that produces goods in response to customized orders.
job shop
Which of the following is the BEST example of process manufacturing?
lamb's wool
Which of the following is an example of in-store retailing?
none of the above
A(n) _______ is a method or process worked out in advance that leads to the achievement of some goal.
plan
The blend of the marketer's tools is called the five Ps. Which of the following is NOT one of the five Ps?
possession strategy
Accountants employed within organizations are called:
private accountants
The Financial Accounting Standards Board (FASB) is a:
private organization that is responsible for establishing financial accounting standards in the United States
The three main types of facility layouts are:
product, process, and fixed-position
When planning _____ strategy, a manufacturer will deal with wholesalers and retailers.
promotion
_____ is the act of informing, persuading, and reminding the target market about a product.
promotion
Which of the following is NOT an example of a hygiene factor?
recognition
_____ is a strategy that focuses on forging long-term partnerships with customers.
relationship marketing
According to Maslow, people need to feel secure, to be protected from physical harm, and to avoid the unexpected. These needs are called _____ needs.
safety
Marketing Concept
satisfies customer wants and needs legally and responsibly
The two types of retailing are:
store and nonstore
Accounting involves the _____ of the financial activities for firms.
summarizing
According to _____, workers respond to attention from superiors, and they like their opinions to be valued.
the Hawthorne effect
_____ are distribution channel members that buy finished products from manufacturers and sell them to retailers.
wholesalers
According to the Hawthorne effect,:
workers respond to being paid attention to
What percent of our workplace success depends on an understanding of other people?
90