Quiz Mark 5. Business - Introduction To Business

Every firm's organizational structure will be based on:

In terms of regional economic integration, linking neighboring economies and making them increasingly dependent on each other create incentives for political cooperation between the neighboring states

3

Employers engage in recruiting to find qualified applicants for open positions within the firm. Recruiting can be external—seeking candidates outside the business, or internal—seeking applicants from within the firm. Which of the following is not part of internal recruitment?

4

An important and practical issue for domestic firms dealing with foreign customers is securing payment

5

Gerrick has an international business but is having difficulty with currency exchanges and fluctuations in the currency exchange rates. At times the problems are so severe he has considered closing down his international operations and doing business exclusively in the United States. Where can he go for assistance with currency exchange problems?

6

Kate makes $3,000 a month working as a radiology technician. She wants to buy a used car for $10,000. She plans to save $2,000 per month for 5 months to buy the car. What function of money does this scenario best describe?

7

Thoreau describes a number of his most cherished enterprises including being a reporter to a journal. What was the primary purpose of these enterprises?

8

Which of the following statements is true of productivity?

9

Legal Partners Inc. is looking to hire a lawyer, so it has posted the job in several legal publications. In its ad, the company requests applicants who have completed law school and passed the bar examination, have courtroom experience, and are confident and hardworking. This describes

10

David is an accountant for a small company. As such, he participates primarily in ________ activities.

11

Theory Y managers prefer

12

In which performance appraisal technique do supervisors describe the performance of employees in narrative form, sometimes in response to predetermined questions?

13

Sergio has a great deal of faith in the abilities of his subordinates. He thinks most employees want to be productive, and will work hard if given the right incentives. He also believes that most firms do not take full advantage of the intelligence and creativity of their employees. Because of this, Sergio favors a managerial style that allows employees to be flexible and creative in how they do their jobs, and empowers them to make and implement decisions. Sergio is a Theory X manager.

14

Elton Mayo's researchers concluded that worker motivation improved when managers listened to worker's ideas and suggestions.

15

Small businesses represent the majority of firms in the:

16

You can do all of the following EXCEPT ________ when you paraphrase material from a secondary source

17

Versus Electronics Inc. wants to ensure that its products best suit the needs of its customers, so the head of the marketing department holds a meeting with the managers of the production department. This illustrates ________ communication.

18

The level of corruption and bribery in a country does not affect the running of businesses there

19

Which of the following costs illustrates out-of-pocket costs?

20

Today's workers have an increased demand for benefits tailored to their individual needs.

21

In the context of corporate restructuring, a common objective of a horizontal merger is to:

22

The market for stocks progresses through a series of steps. Which step comes last in the process?

23

Kim's GymJam Inc., based in Australia, obtained the right to produce and sell a U.S.-based company's boxing gloves. Kim's GymJam has to pay a royalty fee to the U.S. company for every pair of gloves it sells. In this example, Kim's GymJam Inc is the

24

Which of the following is one of the best ways to deal with audience resistance to your message?

25

When they are merchandised effectively, walls will become____.

26

The number of U.S. jobs in manufacturing has increased in the past five years.

27

Titles such as plant manager, operations manager, and division manager designate which level of management?

28

What would be the GREATEST advantage of having a partner as opposed to having an advisory board?

29

Which of the following occurred during the entrepreneurship era?

30

There are many kinds of chain retail stores, which of the following is not usually considered a chain retailer?

31

Both the Roth and traditional IRA allow individuals to put as much money as they want into their retirement account.

32

_____ refers to the quantity of products that producers are willing to offer for sale at different market prices

33

A cash budget typically covers a five-year period and forecasts the types of assets a firm will need to implement its future plans

34

When a new bond is issued, when does the bond's par value have to be repaid?

35

How does the place strategy differ from the promotion strategy?

36

One of the two major challenges facing MNCs is:

37

One of the major reasons India, China, and the Philippines attract multibillion-dollar investments is that:

38

An investment bank operates in the secondary securities market

39

Apple's legendary smart team is an example of a company that succeeded by

40

The deduction of a firm's expenses from its revenue is shown in the income statement of the firm.

41

The use of databases, electronic bulletin boards, online information services, and the Internet can assist marketers in

42

Managers with strong technical skills have expertise in a specific functional area or department

43

A(n) ________ boycott is an illegal attempt by labor to convince others to stop doing business with a firm that does business with a company that is the subject of a primary boycott.

44

Societies need entrepreneurs to ensure that new ideas actualize and to ensure that people are able to self-employ when their economy does not provide for their basic needs

45

Which of the following is a difference between corporate philanthropy and corporate responsibility?

46

_____________consists of all the activities concerned with obtaining money and using it effectively.

47

The advent of computers and accounting software has made the services of accountants unnecessary

48

Through the establishment of a set of generally accepted accounting principles (GAAP), the Financial Accounting Standards Board (FASB) aims to ensure that financial statements are:

49

Customers can't find out which firms are acting responsibly and which are not

50

Which of the following types of plans represents a set of instructions for employees?

51

Which of the following arises when two or more enterprises encounter each other in different regional markets, national markets, or industries?

52

Discuss expectancy theory and equity theory in the context of employee motivation.

Answers will vary. In the early 1900s, key management thinkers focused on efficiency and productivity, dictating precisely how workers should do each element of their jobs. But more recent research suggests that people's thoughts and feelings play a vital role in motivation, which leads to a range of new theories.Usually attributed to researcher Victor Vroom, expectancy theory deals with the relationship among individual effort, individual performance, and individual reward. The key concept is that a worker will be motivated if he or she believes that effort will lead to performance, and performance will lead to a meaningful reward. The theory suggests that if any link in this chain is broken, the employee will not be motivated.Pioneered by J. Stacy Adams, equity theory proposes that perceptions of fairness directly affect worker motivation. The key idea is that people won't be motivated if they believe that the relationship between what they contribute and what they earn is different from the relationship between what others contribute and what others earn. The response to perceived inequity almost always involves trying to change the system, changing your own work habits, distorting your perceptions, or leaving the company.However,equity theory is based on perceptions, which are not always on the mark. People are all too prone to overestimate their own contributions, which throws perceived equity out of balance. The best way to combat equity issues is through clear, open communication from management.

53

A(n) ____ has information about the productand encouragements to buy it. It is often prepared and set up by manufacturers and wholesalers.

54

Describe the exit by the British government from the EU.

On June 23, 2016, and by a narrow margin, the British electorate voted in a national referendum to leave the EU. In early 2017, the British government formally notified the EU of its intention to exit the EU. Under the Treaty of Lisbon, it now has two years to negotiate the terms of exit with the EU, which is scheduled to occur on March 29, 2019. While the British have enjoyed the benefits of free trade within Europe, a segment of the population has never been comfortable with the loss of national sovereignty implied by membership within the EU.

The impending exit of Britain creates an existential problem for the EU. Britain is the EU's second largest national economy. It is seen by many smaller member countries as an important counterweight to the economic power of Germany. As for Britain, most experts predict that the country will bear short- to medium-term costs as a result of this decision. Britain is now less likely to attract inward investment from foreign multinationals, some multinationals may move operations to other EU countries to maintain access to the single market, exports to the EU may fall, London risks losing its position as the financial capital of Europe, and economic growth may be lower than it otherwise might have been.

55

A good business plan will

56

Zack sells organic tacos out of a truck parked on an Ivy League college campus. It's a one-person operation, but the business is quite successful. Zack believes it's important for business to benefit society

57

Equity financing is provided by ____

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Quiz Mark 5. Business - Introduction To Business

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