Quiz Review 2, Business - Introduction To Business

Which of the following are advantages of collaboration and brainstorming gamification systems?

What is an example of an elaborate inspection technique?

Wes is a manager at a large investment banking firm. The firm is expanding, and he is tasked with hiring more people to carry out the organization's increased workload. Wes must also determine what to pay the new hires and develop a plan to train them. Wes is engaged in

4

All of the following are characteristics of the maturity stage of the product life cycle except:

5

Carnegie believed that taxation of large estates at death was appropriate because it punished the selfish millionaire

6

Both Fannie Mae and Freddie Mac participate in the secondary mortgage market by purchasing loans originated by banks and other lenders

7

What is determined when the value of outstanding shares is multiplied by the number of outstanding shares?

8

Most observers object to the pay gap when top CEO pay is tied to performance

9

Which of the following is true of wholesalers?

10

Sasha manages a hotel and is responsible for ensuring that rooms and service exceed the expectations of their customers. Her role would best be described as ________ management.

11

Most trading companies are involved in manufacturing or owning assets related to manufacturing

12

Alfredo manufactures high-quality tennis shoes for specific sports. He has a large storage facility at the manufacturing plant because he stores a large supply of shoes. He has them on hand so he will never be out of stock when they are requested. He also keeps a large quantity of materials on hand to rapidly make shoes if he doesn't have the shoes that are ordered in his storage facility. The holding cost of all the storage is causing a huge financial drain on his business. He has come to you for advice about how to eliminate these overhead costs. What is your best advice to him?

13

A global motor vehicle parts manufacturer wants to start production in China. While catering to local responsiveness, what can the firm do to get scale economies?

14

Poor health care and housing standards and inhospitable climate make it difficult for expatriates to adjust to a particular posting

15

A local pet store, Pals with Paws, donates a portion of every sale to pet rescues in its community. This exhibits the company's

16

Preferred stock appreciates in value much faster than common stock

17

Hallmark cards develops a new line of cards that have a total cost of $200,000 and a price of $3 each. If it sells 20,000 cards the first month, what is its total revenue?

18

The correct answer is "At the time of application". Florida insurance law requires that if a Medicare Supplement policy is sold, the agent must deliver an Outline of Coverage to the applicant no later than when the application is taken.

19

Target costing adds a profit margin to estimated cost of production to determine the optimal price.

20

There was a disturbing harassment situation at NMG Company that resulted in the termination of an employee. After the termination, senior leadership decided that significant changes where needed and asked the training and development team for a proposal. Which of the following would be most likely to appease the senior leaders?

21

Devaluation refers to a decline in the value of a nation's currency relative to other currencies.

22

On-site haircuts and free breakfasts are examples of soft benefits some firms provide for employees.

23

Sociocultural, economic, and legal/regulatory hurdles cause significant challenges in global trade.

24

Germany wants to retaliate against India for trade restrictions that limited the number of German cars that could be brought into India. Which of the following policy decisions would Germany utilize to accomplish this goal?

25

Which method for entering foreign markets has a strong connection to labor resources?

26

How do organizations determine how to move products to customers?

27

Computer-aided manufacturing takes an electronic design for a product and creates the programmed instructions that robots must follow to produce that product as efficiently as possible

28

After a 3-year probationary period, career positions at Bayside Community College are fairly secure, even though the opportunity for promotion runs pretty slowly. These jobs would probably appeal to people who currently work for Type A companies, similar to the way many companies operate in Silicon Valley.

29

InfoTech offers its employees long-term employment with a focus on individual responsibility. As a result, its workers are loyal to the organization, are highly productive, and have strong morale

30

PR firms find that their services can be enhanced and improved by listening to the public in different forums including social media.

31

In a high-context culture

32

Bill is a production manager at a bicycle manufacturing company and needs to find a new supplier. Explain the steps he should take in choosing the best supplier

Selecting suppliers is an important part of the make-or-buy decision. After all, establishing a business relationship with a supplier is like entering into a partnership. A company's first step in finding suppliers involves clearly defining and understanding its needs so that it can find suppliers that truly fit its requirements. Cost is always a factor, but it should never be the sole factor. For example, one supplier may offer to manufacture a part for significantly less but of such poor quality that later repairs or recalls would end up costing a company more than the cost of producing quality parts; its reputation would also be affected. Customers perceive a product as a single entity–not as component piece-parts provided by different suppliers. Customers will hold the company responsible even if an individual supplier is to blame for making a faulty part or missing a deadline and causing a delay. So having a good supplier that meets a company's needs and cares about a company's customers as if they were its own is an invaluable asset. Understanding these needs before choosing a supplier will make the process easier and more beneficial in the end.

33

Wayne has a great idea for a new business which he believes will help him make a lot of money. He is eager to get started, so he wants to form his business with a minimum of hassle, expense, and red tape. He also wants to be his own boss and have complete control over the company. Wayne's goals suggest that he would seriously consider operating his business as a sole proprietorship

34

Compare and contrast debt financing and equity financing

Answer: Debt financing refers to arranging funding by borrowing money. Equity financing refers to arranging funding by selling ownership shares in the company, publicly or privately.
Maturity is specific in debt financing. In most cases, contracts specify a date by which debt must be repaid. Equity funding does not need to be repaid.
Claim on income is nondiscretionary for debt financing. It is usually a recurring cost and fixed. Debt obligations must be repaid, regardless of whether the company is profitable. Equity financing is a discretionary cost. At management's discretion, and if a company is profitable, shareholders may receive dividends after creditors have been paid.
Lenders have prior claims on assets. Shareholders have claims only after the firm satisfies claims of lenders. Lenders usually have no influence over management unless debit vehicles come with conditions or management fails to make payments on time. Debt payments reduce taxable income, and they lower tax obligations. Dividend payments are not tax deductible.

35

As a manager in his company's production department, Derrick wants to ensure that all employees involve themselves in the success of their department. But he also needs to maintain a consistent approach to make sure that everyone is on the same page when it comes to coordinating efforts. Derrick is likely to find that a democratic approach is the most effective form of leadership

36

Integrated marketing communication combines all the promotional tools into one comprehensive, unified promotional strategy.

37

Conducting a business within the boundaries of all laws that govern that industry is referred to as legal ________

38

Dollar General and Dollar Tree are considered

39

Which of the following calculations helps managers compare an organization's productivity, profitability, and financing mix with other similar entities?

40

What is the goal of the CPA Vision Project?

41

Long-term goals are derived directly from a firm's mission statement

42

____ is the study of how wealth is created and distributed.

43

A tying contract requires a buyer not to purchase goods from a competitor as a condition of buying product from the seller.

44

3M Post-it Notes have been on the market for many years now and have always been well received. Which goal of branding is the company most likely interested in at this point?

45

Industrial goods, also called business goods, are products used to produce other products

46

Arm & Hammer launches a campaign to extend the life of its baking soda products through improved packaging and new uses in products such as toothpaste and cat litter. These new uses of products and other modifications are generally created during the _____ phase of the product life cycle

47

Paper clips, stationery, and other office supplies used by businesses are types of industrial support goods.

48

The government of the small nation of Gordonia owned the nation's telephone company and landlines. This relatively poor government relied on taxes to develop this industry and provide service to its citizens. If the government wanted to improve people's access to phone service, its best course of action would involve selling the telephone company to private investors.

49

Headhunters specialize in helping companies fill low-level positions that require little or no skill

50

Sareena owns a Lebanese restaurant that employs around 25 people. She is solely responsible for the management of the restaurant. Her business competes with a larger chain of restaurants that offer the same cuisine. Sareena's restaurant can be classified as a

51

The term _____ refers to the combination of pay and benefits that employees receive in exchange for their work.

52

One of the most difficult management challenges today is managing change. Why is this?

53

A franchise may be organized as a sole proprietorship, partnership, or corporation.

54

Which of the following describes a process in which marketers present an accurate description of a new product to potential customers and ask if they find the idea appealing?

55

Which of the following women is most at-risk of having a low-birth weight baby?

Find your answers, solutions and more...

We made it much easier for you to find exactly what you're looking for on Sciemce. Enjoy our search engine "Clutch."

Save a GPA. Donate your notes with us.

Quiz Review 2, Business - Introduction To Business

Recent Packs