Question 2. 2. (TCO 1) People who stand to gain or lose by the policies and activities of a business and whose concerns the business needs
| Question 2. 2. (TCO 1) People who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address include which of the following? (Points : 5) Bankers Government employees Surrounding/competing businesses Foreign business leaders Domestic business leaders |
| Question 3. 3. (TCO 1) Home-based entrepreneurs should focus on _____. (Points : 5) seeking a short-term payoff creating a long-term vision accepting security getting a line-of-credit from a foreign bank understanding financial ratios on their balance sheet |
| Question 4. 4. (TCO 3) Which of the following is an example of a lifestyle business? (Points : 5) A paper recycling unit that employs about 800 employees A self-employed landscape designer Nature’s Delights, an international gourmet food chain that is considered to be the world’s leading retailer of natural and organic foods Museum of Fine Arts, a government-funded museum that houses a collection of 19th and 20th century American, German, and French paintings Freedom Books, a firm that is the leader in the English-language, book-publishing sector |
| Question 5. 5. (TCO 1) A basic set of rules for allocating resources to satisfy its citizens’ needs is called (Points : 5) a monetary system. a free market system. an economic system. a planned system. |
| Question 6. 6. (TCO 2) These are government policies aimed at shielding a country’s industries from foreign competition. (Points : 5) Tariffs Free-market capitalism Protectionism Import quotas |
| Question 7. 7. (TCO 3) A strategy for reaching a global market is _____. (Points : 5) licensing importing direct marketing disenfranchisement contract labor |
| Question 8. 8. (TCO 3) What is not a disadvantage of a corporation? (Points : 5) Initial cost Extensive paperwork Ability to raise money for investment Possible conflict with stakeholders and board of directors |
| Question 9. 9. (TCO 2) There have been reports of cell phone service sales representatives who actually lie to get customers to extend their contracts, or even extend their contracts without the customers’ knowledge. Some phone reps intentionally hang up on callers to prevent them from canceling their contracts. Why do these sales reps sometimes resort to overly aggressive tactics? (Points : 5) Excellently designed incentive programs reward them tax free. Salaries can be reduced by half in such instances. Their managers say, “Deceive the customers.” Overly ambitious goals and incentives create an environment in which people can learn and grow. Overly ambitious goals and incentives create an environment in which unethical actions are tolerated. |
| Question 10. 10. (TCO 3) Starting your own business (Points : 5) is an alternative to unemployment. is not risky. allows others to control your future. is not difficult and does not require sacrifice. |
| Question 11. 11. (TCO 4) Which of the following pairs represent an advantage and a disadvantage of marketing to a mobile phone rather than a fixed computer? (Points : 5) Mobile phone users are accustomed to advertising interruptions while fixed computers have limited links to retailer websites. The mobile phone is operating most of the time, but the interactivity is less than a fixed computer. The screen size of fixed computers is larger, but screen enlargement overcomes that limitation in mobile phones. Fixed computers can provide advertising based on where you happen to be while mobile phone advertisements are limited to product categories. |
| Question 12. 12. (TCO 4) The rapid spread of brand communities has been one of the major impacts of social media. The Harley Davidson Owners Group is one example of an informal network of people with similar interests who use social media to bond and share information. Why are these brand communities effective? (Points : 5) The cost of consumer-oriented publications is too expensive. Consumers now trust their peers more than any source for product information. Consumers no longer trust salespeople. State and local consumer protection agencies no longer review products. |
| Question 13. 13. (TCO 4) A market contains subgroups of people with varying interests, values, and behaviors. To maximize your effectiveness in reaching these subgroups, many companies will divide the total population into market segmentation. The four fundamental factors that marketers use to identify market segmentation are (Points : 5) demographics, psychographics, geography, and income. behavior, geography, income and demographics. geography, behavior, psychographics, and demographics. demographics, behavior, sales tax, and education level. |
| Question 14. 14. (TCO 5) You have been recently hired as the new employee development and training director at a small utility engineering company. Your boss, the company founder as well as president and CEO of the firm, has specifically asked your assistance in finding a way to improve creativity in the engineers through a process called job enrichment. You have thought about this for a few days and now feel that it is necessary to meet with your boss to present your ideas concerning motivation and performance. One idea that you would present is (Points : 5) the extent to which a job demands the same skills. the degree to which the job requires doing a task with a visible outcome from beginning to end. the degree to which the job has an insubstantial impact on the lives or work of others. the degree of indiscretion in scheduling leisure time. the amount of direct and clear information given about team goals. |
| Question 15. 15. (TCO 6) Which of the following departments would be responsible for manufacturing? (Points : 5) Marketing Human Resources Production Research and Development |
| Question 16. 16. (TCO 7) A common reason that companies fail is (Points : 5) underspecialization. an excellent control of cash flow. a lack of adequate sales revenue. an inadequate control of expenses. an inadequate managerial expertise. |
| Question 17.17. (TCO 7) _____ is a financial management function and a part of financial planning. (Points : 5) ATTACHMENT PREVIEW Download attachment1. (TCO 1) A(n) _____ is a framework of how a business intends to generate revenue. (Points : 5)business modelstrategic management toolproFtability analysiscompe±±ve advantageentrepreneurial mindsetQues±on 2. 2. (TCO 1) People who stand to gain or lose by the policies and ac±vi±es of a business andwhose concerns the business needs to address include which of the following? (Points : 5)BankersGovernment employeesSurrounding/compe±ng businesses²oreign business leadersDomes±c business leadersQues±on 3. 3. (TCO 1) Home-based entrepreneurs should focus on _____. (Points : 5)seeking a short-term payo³crea±ng a long-term visionaccep±ng securityge´ng a line-of-credit from a foreign bankunderstanding Fnancial ra±os on their balance sheetQues±on 4. 4. (TCO 3) Which of the following is an example of a lifestyle business? (Points : 5)A paper recycling unit that employs about 800 employeesA self-employed landscape designerView the AnswerNature’s Delights, an internaTonal gourmet food chain that is considered to be the world’s leadingretailer of natural and organic foodsMuseum of Fine Arts, a government-funded museum that houses a collecTon of 19th and 20thcentury American, German, and French painTngsFreedom Books, a ±rm that is the leader in the English-language, book-publishing sectorQuesTon 5. 5. (²CO 1) A basic set of rules for allocaTng resources to saTsfy its ciTzens’ needs is called(Points : 5)a monetary system.a free market system.an economic system.a planned system.QuesTon 6. 6. (²CO 2) ²hese are government policies aimed at shielding a country’s industries fromforeign compeTTon. (Points : 5)²ari³sFree-market capitalismProtecTonismImport quotasQuesTon 7. 7. (²CO 3) A strategy for reaching a global market is _____. (Points : 5)licensingimporTngdirect markeTngdisenfranchisementcontract laborShow |
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