Business - Introduction To Business Pre Quiz 4

Which of the following is a powerful contribution made by small businesses to the U.S. economy?

How are profits handled in communist systems?

According to the Securities Act of 1933 it is against the law for a firm that is publicly trading securities to deny an investor from knowing how the firm is doing financially.

4

Companies that manufacture typewriters found themselves in trouble quickly when personal computers and word processors became popular. These companies were most impacted by ____ forces.

5

The groups with whom buyers identify and whose values or attitudes they adopt are referred to as

6

An underwriter is a specialized type of bank that buys the shares from the company preparing an IPO and sells them to investors

7

Which of the following is an important underwriting principle of group life insurance?

8

To respond to the increase in mobile technology use, what are some companies doing when designing websites?

9

Purina has a new product idea to create a cat food that will give cats more energy and allow them to live longer. Management appoints a team to convert this cat food idea into an actual product. This process is called

10

To improve the design of a document, which of the following should be emphasized?

11

Which type of pollution has seen the least improvement since environmental issues became important?

12

Paris Hilton declaring, "I am a marketing genius" is an example of _____.

13

What are the four primary channels of written communication?

14

Rayman Automobiles, an automobile manufacturing company, was founded in 1912. The company primarily focused on creating greater efficiencies by refining its processes and creating specialized jobs. This allowed the company to increase its output and lower the prices of its products. As a result, automobiles became an affordable commodity. In the context of the history of American business, Rayman Automobiles was most likely founded during the _____.

15

Unlike the debt in a firm's capital structure, the equity in a firm's capital structure:

16

Suppose that Kohler is deciding whether to create a line of self-installed kitchen and bathroom fixtures

in Business

In what way would Kohler's definition of its mission lead it to make a different decision than it would make if it had no defined mission and merely attempted to follow widely accepted business practices?
A) Kohler would focus on the customers' underlying needs instead of their demand for existing Kohler products.
B) Kohler would pursue opportunities that are very different from the areas in which it has competed successfully.
C) Kohler would alter its conception of "gracious living" to include activities such as installing kitchen and bathroom fixtures.
D) Kohler would not produce the new line of fixtures if it determined that doing so would not fit with its definition of "gracious living."
E) Kohler would create the new line of fixtures if the expected profits were higher than products that could more reasonably fit under its definition of "gracious living."

17

The closing section of a positive message

18

Which of the following computer-based programs lets a manager know what resources are needed by a particular date to fill an order on time?

19

If a firm's earnings should drop below the interest cost of borrowed money, the return on owners' equity will increase.

20

________ planning is a part of contingency planning that is used to deal with sudden and unexpected changes in the business environment.

21

Which type of layout is designed to move resources through a smooth, fixed sequence of steps?

22

Articles of incorporation usually specify the life of a corporation as a certain number of predetermined years.

23

Which of the following will enable the reader to respond to complex requests?

24

What is the purpose of the appendices in a business plan?

25

How does delegation impact decentralization or centralization of a firm?

26

Which of the following scenarios would best exemplify Adam Smith's view of best serving the interests of society?

27

A(n) _____ gives managers access to large amounts of data and the processing power to convert the data into high-quality information quickly and efficiently

28

Carlos manages a hardware superstore where he supervises 50 employees. Because he manages a large number of employees, fewer management layers are needed. As a result, what is most likely true of Carlos' duties, in comparison with managers in tall organizations?

29

The value added by the creation of finished goods and services from inputs is called ownership utility.

30

Shelly is a loan officer who approves loans for small businesses to boost the local economy. One factor she looks at

31

Keiran wants to add a new feature to his website but doesn’t want to invest hours of his time to develop and build it. He simply wants to know if customers will actually click the button. What test should he use?

32

The number of units of one currency that must be exchanged for a unit of the second currency is known as the exchange rate between the currencies

33

Which of the following terms refers to the amount paid for an existing business beyond the value of its other assets?

34

Ethnocentrism ________

35

Conducting consumer research is one of the ways of jumping over sociocultural barriers for businesses

36

Economies of scale

37

Under the Federal Reserve Act of 1913,

38

The Indian described in Thoreau's Walden:

39

Some businesses may legally show prepaid expenses and marketable securities as part of their current assets.

40

The three values associated with the stakeholder model of the firm are:

41

Wholesalers often withhold information about competitors, new products, and price developments in order to protect their relationships with other accounts they are distributing

42

Human relations skills include those associated with leadership, coaching, morale building, and supportiveness.

43

Franchising is essentially the service-industry version of licensing, although it normally involves much longer-term commitments than licensing

44

Kishan, an employee at United Works, is considered a bully by his co-workers. Describe in detail the types of activities that constitute bullying in the workplace.

Bullying belongs to the abusive and intimidating category of behaviors in the workplace. Bullying is a kind of misconduct that is often associated with a hostile workplace when a person or group is targeted and is threatened, harassed, belittled, verbally abused, or overly criticized. In the context of the National Business Ethics Survey, bullying is a widespread problem in the United States, and can cause psychological damage that can result in health-endangering consequences to the target. Surveys reveal that bullying in the workplace is on the rise. Bullying can use a mix of verbal, nonverbal, and manipulative threatening expressions to damage workplace productivity. One may wonder why workers tolerate such activities. The problem is that 72 percent of bullies outrank their victims.

45

If Martin Jones, VP Finance, meets with Susan Sheridan, CEO, to discuss how much of the budget can be allotted to certain departments for next year's project plans, the two are engaging in

46

____ is called the "first" management function because all other management functions depend on it

47

Which of the following is true of cloud computing?

48

In 2003, the U.S. Congress enacted the Controlling the Assault of Non-Solicited Pornography and Marketing Act, also known as the CAN-SPAM Act. It requires senders of unsolicited commercial email to label their messages as ads and to tell the recipient how to decline further messages. It also prohibits the use of false or deceptive subject lines

49

Judges under a civil law system have less flexibility than those under a common law system

50

The reduction in the workforce that normally occurs when employees leave a company is called

51

An individual or organization granting a license to operate an individually owned business as though it were part of a chain of outlets or stores is a(n)

52

What is the advantage of promoting from within when filling an opening within the organization?

53

What was the major accomplishment of the Industrial Workers of the World union?

54

An organization with a flat structure has many layers of management

55

What is the biggest advantage of incorporating?

56

Which if the following is not a type of primary data?

57

Explain how a cross-licensing agreement helps reduce risk.

A problem with licensing is the risk associated with licensing technological know-how to foreign companies. There are ways of reducing this risk. One way is by entering into a cross-licensing agreement with a foreign firm. Under a cross-licensing agreement, a firm might license some valuable intangible property to a foreign partner, but in addition to a royalty payment, the firm might also request that the foreign partner license some of its valuable know-how to the firm. Such agreements are believed to reduce the risks associated with licensing technological know-how, because the licensee realizes that if it violates the licensing contract (by using the knowledge obtained to compete directly with the licensor), the licensor can do the same to it. Cross-licensing agreements enable firms to hold each other hostage, which reduces the probability that they will behave opportunistically toward each other. Such cross-licensing agreements are increasingly common in high-technology industries. Another way of reducing the risk associated with licensing is to follow the Fuji Xerox model and link an agreement to license know-how with the formation of a joint venture in which the licensor and licensee take important equity stakes. Such an approach aligns the interests of licensor and licensee, because both have a stake in ensuring that the venture is successful.

58

Which type of report is used to judge the likelihood of success when launching new products?

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Business - Introduction To Business Pre Quiz 4

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