Quiz Facts 9, Business - Introduction To Business

1

From the perspective of making a profit, it is sensible for a company to disperse production activities to countries where they can be performed most efficiently.

2

Which of the following is the most selective advertising medium?

3

What is penetration pricing? Give an example

4

Policies regarding all of the following points should be included in a partnership agreement EXCEPT ________

5

During the late 1980s and early 1990s, totalitarian governments collapsed and were replaced by democratically elected governments

6

David is a computer programmer for a large business-to-business firm. His project manager recently tasked him with developing a program that will continually collect data from internal sources including sales figures, product and marketing costs, inventory levels, and activities of the sales force as well from external sources from and about suppliers, intermediaries, and customers. He has been informed that the program will be used by his firm and will be sold to clients to make marketing decisions. Which of the following best describes the purpose of David's program?

7

Ernesto's business is growing at a steady rate, but he knew he can always do better! In order to capture more business, he would have to hire a few more sales professionals to sell into new markets. As he contemplated his staffing needs, his sister who worked in HR informed him that he needed to do a job analysis before hiring. Which of the following would be a logical part of a job analysis for a sales position?

8

Brian establishes a small shoe factory that specializes in custom-made shoes. As a sole proprietor, he is immediately able to set up his business without needing to consult other people to make decisions and establish policies

9

An increase in global trade will:

10

The strategy of charging the highest possible price for a product during the introduction stage of its life-cycle is called price skimming

11

Whitley recently started her own tutoring firm for high school students. To help finance her new business, which had a very limited track record, she issued bonds that offered relatively high rates of interest and had higher inherent risks. Which of the following types of bonds is Whitley most likely using in this scenario?

12

Which form of business ownership is the easiest to establish?

13

Which stage of the selection process may require a candidate to undergo physical examinations to determine his or her suitability for a specific job?

14

Privatization occurs when state-owned property is transferred into the hands of individuals.

15

A product franchise gives its franchisees the right to resell its trademarked goods that must be purchased from the franchisor

16

During planning, SWOT analysis is important to determine how to turn threats into opportunities

17

Landing Service Landing Service is a lawn furniture company that has been around for many years. It is known for its ability to produce furniture more efficiently than any other company in the nation. In truth, no other companies in any other nation come close. Landing Service has shipped many of its products internationally. In fact, 80 percent of its profits come from international sales

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However, the Italian government has imposed a tax on imported furniture items to protect local companies. The Brazilian government, on the other hand, has imposed taxes on Landing Service products due to the government wanting a piece of the pie.

Landing Service initially thought that these taxes were unfair because it was being singled out. However, after Landing Service contacted the organization that had the power to mediate this situation, the furniture company realized that the taxation it was subjected to was legal and that there was nothing it could do about it.

Refer to Landing Service. What type of tax has the Brazilian government imposed on the company?
A) Import duty
B) Embargo
C) Revenue tariff
D) Protective tariff
E) Nontariff barrier

18

Pyoiunalek's, a U.S. restaurant chain, markets and endorses its business in Germany by offering buyers the rights to launch and operate the restaurant in their own country. It lends financial and marketing assistance to the buyers. Pyoiunalek's is employing the strategy of _____

19

Which of the following would be considered false advertising?

20

Discuss some of the contemporary staffing challenges

Answer: Managers in every organization face an ongoing array of staffing challenges such as:
∙ Aligning the workforce. Matching the right employees to the right jobs at the right time is a constant challenge.
∙ Fostering employee loyalty. Most companies can't guarantee long-term employment, but they want employees to commit themselves to the company. With the increasing number of temporary employees and independent contractors, this challenge will continue to grow.
∙ Monitoring workloads and avoiding employee burnout. As companies try to beat competitors and keep workforce costs to a minimum, managers need to be on guard for employee burnout, a state of physical and emotional exhaustion that can result from constant exposure to stress over a long period of time.
∙ Managing work-life balance. The concern over workloads is one of the factors behind the growing interest in work-life balance, the idea that employees, managers, and entrepreneurs need to balance the competing demands of their professional and personal lives. Many companies are trying to make it easier for employees to juggle multiple responsibilities with on-site day-care facilities, flexible work schedules, and other options designed to improve quality of work life (QWL).

21

How do companies achieve continuous sales of more units and higher profits, even with lower unit prices?

22

Rebecca is a manager in a large publishing house. She and a few other managers do the tactical planning once the strategic plan is prepared. Rebecca is a _____ manager.

23

In the product life cycle, the product is officially made available to the public in the ______

24

To avoid losing that small-company-feel, fast growing companies try to maintain a flat organization structure.

25

All of the following EXCEPT ________ will make your messages mobile friendly

26

Identify a true statement about classroom training.

27

What must occur for a firm to ensure profitable price discrimination?

28

Which of the following is a measure of how wide or narrow a blog's subject area is?

29

The time when all employees must be present in a flextime plan is referred to as

30

You stumble across a sheet of paper with a sequence of number and letter pairs—for example, 1a, 2f, 3d, 4e, and so on. You learn from a friend that these are the answers to a multiple-choice quiz you will be taking in your next class

31

Discuss the steps in developing an audience profile

First, identify your primary audience. For some messages, certain audience members may be more important than others. Determine audience size and geographic distribution. A message aimed at 10,000 people spread around the globe will probably require a different approach than one aimed at a dozen people down the hall. The next step is to gauge audience members' level of understanding. If audience members share your general background, they'll probably understand your material without difficulty. If not, your message will need an element of education to help people understand your message. Also, understand audience expectations and preferences. For example, will members of your audience expect complete details or just a summary of the main points? In general, for internal communication, the higher up the organization your message goes, the fewer details people want to see. Finally, forecast probable reaction. If you expect a favorable response, you can state conclusions and recommendations up front and offer minimal supporting evidence. If you expect skepticism, you can introduce conclusions gradually and with more proof.

32

Consider the following statement: "People born between 1981 and 2000 are found to be optimistic, civically engaged, self-confident, team-oriented, close to parents, and technologically focused

33

Heavy on startup costs, with sales usually low, and the huge risk that the product may be rejected in the marketplace, the growth stage of the product life cycle is the period in which customer demand increases,