Business - Introduction To Business, Helping Quiz 1

A corporation is perhaps the easiest form of business to organize

Suppose IBM decided to issue commercial paper in denominations of $5,000 to raise a large sum of money. Since the commercial paper is secured only by IBM's reputation,

3

When responding to rumors and countering negative information in a social media environment, a company should NOT

4

Nelson, the CEO of a company, holds a meeting with the board of directors that includes both male and female members. While addressing them, Nelson is careful to use phrases such as "Welcome board members" and "Dear stockholders" instead of solely using "he" or "she." In this scenario, which of the following biases is Nelson avoiding?

5

An independent retailer is a firm that operates more than one outlet and generally provides personal service.

6

Which of the following statements is true of SWOT analysis?

7

Many Harvard Business School graduates who created and signed the MBA oath are likely members of what generation?

8

In Florida, deceptive advertising is considered to be

9

The ratio that averages about 2.0 for all industries is the

10

An organization retrenches by increasing its investment in a particular area

11

When compared to American society, Japanese society lacks

12

In the year 2002, Timothy wanted to purchase a house. As he did not have sufficient funds, he decided to take a loan. Given his low credit score, it was highly unlikely that he would be able to repay the borrowed money. However, he was able to secure a loan despite his reduced ability to repay the loan. Timothy most likely applied for a _____.

13

Which of the following is a difference between limited partnerships and limited liability partnerships?

in Business

A. In limited partnerships, only the general partners assume unlimited personal liability of the debts, whereas in limited liability partnerships, the partners do not hold any liabilities.
B. In limited liability partnerships, all partners have limited liability of company debts, whereas in limited partnerships, both partners hold unlimited liabilities.
C. In limited liability partnerships, all the partners actively participate in the management of the company, whereas in limited partnerships, only the general partners actively manage the company.
D. In limited partnerships, only the limited partners actively participate in managing the company, whereas in limited liability partnerships, all the members participate in the management of the company.

14

Selective-demand advertising aimed at persuading consumers to make purchases within a short time is called ____ advertising.

15

What are the advantages of using virtual meetings when the workforce is geographically dispersed?

16

The initial plan for the project can be thought of as its strategic plan

17

Which country in the Pacific Asia region has one of the world's largest economies?

18

________ are brief personal messages written to comfort someone after the death of a loved one

19

It is important for managers to be aware of the informal groups that exist in an organization

20

The advantages of electronic data interchange are no longer limited to large companies, because even small firms can exchange and process data such as orders, invoices, and payments using

21

Describe the stakeholder model of social responsibility

Answer: Companies that strive to be responsible to their stakeholders concentrate on five main groups: customers, employees, investors, suppliers, and the local communities where they do business. To be responsible toward their customers, businesses strive to be fair in their pricing, honor warranties, meet delivery commitments, and stand behind the quality of their products. Businesses that are socially responsible toward their employees treat them fairly, make them a part of the team, and respect their dignity and basic human needs. To be responsible toward investors, businesses follow proper accounting procedures, provide appropriate information to shareholders about financial performance, and manage the organization to protect shareholders rights and investments. Businesses are responsible toward suppliers when they provide realistic delivery schedules and reduced profit margins. Many businesses keep their suppliers informed about future plans and work to partner with them. To be responsible toward communities, businesses often give back through charitable programs and local causes.

22

Research suggests that organizations that hire a diverse group of employees can benefit from their different skills and life experiences. This is an example of how a diverse workforce can:

23

________ are websites where users can add to or edit the content of posted articles.

24

Which mode of payment is NOT used by health insurance policies?

25

Frederick Herzberg proposed

26

An investor with a strong appetite for risk should purchase a(n) ________

27

The investment decisions of many traders on Wall Street in the early 2000s led to the downfall of several investment companies, demonstrating that employee goals were not aligned with company goals. This indicates a failure of which basic managerial function?

28

Trade restrictions usually have no immediate or long-term economic consequences

29

Katherine inherited $35,000 when her grandfather died and decided to invest it in the Leafy Greens restaurants. As a student of business, you inform her that she can call a stockbroker who will help her purchase stock on the secondary market.

30

Differentiate between a product line and a product mix. Provide an example for each.

31

What is the name of the small business owner who contracts to buy a franchise?

32

Both the M-1 and M-2 definitions of money include coins and paper money.

33

What government body was established in 1970 to "protect human health and the environment?"

34

A clothing store located in a shopping mall wants to give customers an opportunity to place orders. What is one form of direct marketing the store can use to provide this service?

35

According to _____, some specific fraction of a good must be produced domestically.

36

Johanna Breese, a graduate student from Carnegie Mellon, connected with the culture of Madagascar when she created lamba hoany (a native garment) with artful messages to save the more than 150 rare species of animals that inhabit Madagascar. In contrast to many Americans trying to do business abroad, Johanna successfully adapted her message to the native culture when she imprinted it on the native garment.

37

Like many firms in the electronics industry, Godin Manufacturing experiences ups and downs in the demand for its high-tech products. To increase capacity during high-demand periods, management would do all of the following except

38

During the design planning stage for its new appliances, Torr, Inc needs to determine how many different product variations there will be. This is the same as determining the product

39

SGE Company manufactures plastic drinking glasses. They conduct periodic inspections during the production process to ensure quality falls within acceptable standards. This best describes ________.

40

Which of the following denotes small retail stores carrying only one product line or category of related products?

41

Which tool for money management is a plan for spending and saving your income?

42

Mauve Inc. purchased a global data collection and management system that provides detailed information about each of its customers. Using this information, Mauve is able to identify the individual needs of all its customers and provide tailored products and services. This scenario illustrates the concept of:

43

A market is a group of individuals and/or organizations that have needs for products in a given category and have the ability, willingness, and ____ to purchase such products.

44

________ is the operations management planning function that searches for quality material resources, finds the best suppliers, and negotiates the best price.

45

When the Federal Reserve Board increases the reserve requirements, the

46

Customer loyalty programs revolve around learning as much as possible about customers and their shopping behaviors so as to create a meaningful one-on-one interaction with each of them

47

One external force that influences the development of marketing strategies is the training and development of human resources.

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Business - Introduction To Business, Helping Quiz 1

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