Intro to Business Study srk

The one universal criterion for measuring the rate of success in production is:

The ability to produce surplus value

One of the critical requirements to coordination is a delicate balance between which of the following two structural concepts?

Centralization and decentralization

Which of the following trends of modern consumerism sees consumers becoming more and more aware of the environmental and social implications of their day-to-day consumer decisions?

ethical consumerism

Small business owners have the satisfaction of making their own decisions within the constraints imposed by ____________.

government regulation

Which of the following is NOT an objective of fiscal policy?

lower taxes

What are students expected to do after scrutinizing a case study?

prepare strategies and tactics that the firm should employ in the future

Which of the following may cost a company so much that it is forced out of business?

regulation requirements

What is the economic growth strategy that promotes the attitude "more with less"?

resource performance

Which consumer right asserts that consumers should be able to voice complaints and concerns about a product in order to have the issue handled efficiently and responsively?

right to be heard

As demand increases, prices will _______.

rise

A company owned by the parent company or holding company.

subsidiary

What event, during the late 19th century, is responsible for first bringing about high productivity growth?

the Second Industrial Revolution

In a sole proprietorship, what percentage of the profits is the owner entitled to?

100%

Individuals are empowered by holding skill sets that are needed by others in the company. Which of the following is a good way to increase empowerment through specialization?

Create autonomy through boundaries, and ensure open communication

Which of the following is NOT a method suggested by the European Works Council to improve effectiveness of employee voice?

Detract from the recognition of your peers

In order to be effective, a team leader should NOT:

Disengage from the team

Company A depends largely on utilizing different geographic regions in their operational procedures. As a result, which departmentalization strategy makes the most sense?

Divisional

How does heightened flexibility benefit small organizations?

It allows quicker response times to industry developments.

The method which provides information regarding the performance of new products in extreme settings is a:

Laboratory test

What is a consumer?

Someone who acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing

With problem-based learning, students learn how decision making may be informed by ________.

competing resolutions

Which of the following is most likely to be the ultimate determinant of economic growth?

an institutional government that encourages free entrepreneurship

According to Perry Sainati, what has contributed to the remarkable recovery of the U.S. manufacturing industry?

automation, process improvement and quality

Some policies of affirmative action have been criticized because they are seen to be:

A form of reverse discrimination

Proponents of a network structure primarily underline which of the following characteristics as the core advantage of using this organizational structure?

Agility

The goals of organization include:

All of the following

The benefit of operational management is:

All of these answers

Which of the following employer requirements is part of the "general duty clause"?`

All of these answers

Why do people have trouble making the "right" decision?

All of these answers

Businesses that are partnerships typically include which of the following details in the partnership agreement?

All of these answers.

New and upcoming Internet and mobile technologies offer which of the following benefits to franchises?

All of these answers.

Which of the following is NOT a method suggested by the European Works Council to improve effectiveness of employee voice?

Brag about the quality of your work

One of the immediate side effects of moving towards a modular structure tends to revolve around disaggregation. What does this mean?

Breaking up into constituent parts, particularly categories which have been lumped together

Suppose that an experiment was conducted in which a rat was shocked every time it moved to the left side of the cage. This operant would be classified as a:

Punisher

Measurements which give "the rosiest picture possible" but do not accurately reflect the key drivers of a business are:

Vanity metrics

Which of the following is NOT an advantage of starting a business?

a lack of involvement in day to day business activities

A company, like 3M, could use operations management to provide competitive advantage in the marketplace by:

controlling the transformation process of the good.

Which of the following factors has contributed to the rising global middle class?

developing economies coming on-line

A section of a large company.

division

Which of the following do communist societies tend to stifle, leading to difficulty in economic growth and development?

entrepreneurial spirit