Business - Introduction To Business

Moral hazard arises when people behave recklessly because they know they will be saved if things go wrong

What is the held idea that every person should have the opportunity to pursue their goals in an organization?

Chuck and Paula want to buy their first house. They have done online research and determined that most houses having the features they want in the area where they live cost around $350,000. They hire a real estate agent who helps them find and buy a house for $345,000. What function of money does this scenario best describe?

4

In low-income countries, a high percentage of entrepreneurs are considered _________ entrepreneurs

5

Bill owns convertible securities in The Winning Edge Corp If the conversion ratio for the convertible securities is

6

The virtual corporation does all its business online with partners considered a permanent part of the network.

7

In traditional organizations, ________ involves giving explicit instructions to workers, telling them what to do to meet the goals and objectives of the organization.

8

A large restaurant with locations throughout the United States has a long-term partnership with Tyson for its poultry and a produce distributor for its fruits and vegetables. These relationships reduce inefficiencies and costs and result in higher customer satisfaction. This restaurant is successfully using _____

9

The laws that govern litigation in different nations are:

10

One problem with most extranets is that they use public lines, which makes it possible for hackers to get into the network.

11

Which of the following best describes a typical scenario companies use in the commercialization phase?

12

Typically, the only option that firms have to deal with pure risk is to buy insurance.

13

During the employee selection process, the screening interview is often conducted by

14

Why is speed to market so important?

15

In the context of foreign direct investment, which of the following statements is true of joint ventures?

16

Inflation refers to the persistent rise in the purchasing power of money.

17

_____ involves placing a producer's products in as many stores as possible.

18

When investors read an executive summary, they usually look for all of the following EXCEPT ________

19

Which of the following, if true, weakens Darrell's management strategy?

20

The two types of corporate culture that have low levels of sociability among employees are

21

In Weber's view of a bureaucratic organization, the role of top management is to

22

To implement a policy of empowerment, the organization will restructure so that:

23

Dinesh lives in Phoenix where he hears almost daily reports about the high levels of ozone along with suggestions on when individuals should purchase gasoline. As he views the hazy condition in the sky, he decides the government is basically ignoring environmental problems. Which statement best describes the government's involvement?

24

Which of the following are the elements of distribution strategy?

25

People's Pal, a public sector bank, provides a feature on its website that allows its customers to disburse their due payments automatically on a monthly basis. This saves its customers from the hassle of forgetting to pay their dues and having to pay a fine. In this scenario, People's Pal uses:

26

Hwan was responsible for writing a document that provided guidelines and principles to help employees act in an acceptable, ethical manner. This document is called

27

Ken's Home and Garden started the accounting period with $10,000 worth of shovels in inventory. During the accounting period, it purchased $5,000 worth of shovels and sold $7,500 worth. In this scenario, what is the cost of goods sold?

28

The channel evolution theory helps explain the evolution of retailers that enter a market and initially attempt to attract customers by offering lower prices. It suggests that eventually low profit margins will force such firms to evolve into more upscale markets, leaving their original customer base behind

29

Which of the following is a characteristic of a matrix structure?

30

During this stage of the unionization process, employees are asked to sign to indicate their support for the union.

31

The president of the United States appoints the members of the Federal Reserve's board of governors.

32

What is a characteristic of mores?

33

What is a knowledge management system?

34

A(n) _____ is a type of stock that gives its holder priority over common stockholders in terms of dividends and claims on assets.

35

When organizations gather information to better understand their customers, generate more profits, and improve customer satisfaction, they are performing ________

36

Jane is an operations manager for a manufacturing firm. She aspires to become chief operating officer at her company one day. Jane knows that in order to move from her current position to COO, she will need to improve her:

37

Planning involves forecasting events and determining the best course of action from a set of options or choices.

38

Morgner Heating and Cooling offers customers who buy air conditioners and furnaces free delivery and low installation charges. The company also offers a free follow-up inspection of the new equipment one month after it is installed. These services are ways that Morgner provides its customers with ________ utility.

39

Which of the following is the name for the economic value of all of the products that a country exports minus the economic value of its imports?

40

In the process of starting a business, along with developing a business plan, the entrepreneur needs to

41

Which of the following is true of the Treaty of Rome?

42

A(n) ________ leader would set objectives and give employees a great deal of freedom to decide for themselves how to accomplish those objectives.

43

In the last stage of the decision-making process, managers may decide to

44

Currency swap

45

From a marketing management perspective, what is the meaning of a total product offer? What are the important elements in the total product offer of your college or university?

A total product offer consists of everything that consumers evaluate when deciding whether to buy something.

Elements in a total product offer can include: price, brand name, convenience, package, service, store surroundings, Internet access, buyers' past experience, image created by advertising, guarantee, speed of delivery, and producers' reputation.

Students will generally identify several important elements in their college's or university's total product offer. Among them may be:
● The tuition charged by the institution.
● The academic reputation of the institution.
● The "name" of the college, perhaps influenced by the success of the athletic department.
● The service the college offers in terms of degree programs, college placement, etc.
● The past experience of friends or relatives.
● The probabilities (guarantees) of getting a job after graduation.
● The surroundings or support facilities of the institution.

46

Each Saturday night, someone in the community called the local police to control the noisy, riotous activity at Billy Bob's Tavern. However, Mr. Bob never took action on his own and ignored the problem. Eventually, local residents forced him out of business. Mr. Bob might be in business today had he

47

Which of the following is NOT part of operations management planning?

48

Since hygiene factors do not motivate workers toward high achievement at work, managers can safely ignore these factors when trying to develop an effective work environment.

49

The main difference between storage warehouses and distribution warehouses is that storage warehouses are relatively small, specialized facilities used to store one particular type of good for short periods while distribution warehouses are large facilities used to store a wide variety of goods for longer periods of time.

50

One-on-one interaction between a salesperson and a prospective buyer is called ________

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Business - Introduction To Business

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