Identify two of the three categories of major business pressures and two main types of business pressures in each category
What will be an ideal response?
The three categories are market and economic pressures, societal pressures, and technological pressures. Market and economic pressures include strong competition, global economy, regional trade agreements, extremely low labor costs in some countries, frequent and significant changes in markets, increased power of consumers, and political and government. Societal pressures include changing nature of workforce, government deregulation, compliance, shrinking government subsidies, increased importance of ethical and legal issues, increased societal responsibility of organizations, rapid political changes, and terrorism. Technological pressures include increasing innovations and new technologies, rapid technological obsolescence, increases in information overload, and rapid decline in technology cost versus labor cost.
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A paintball "cat shoot" (at a painting of a cat) designed to raise funds for the local humane society while attracting attention and customers, is an example of:
A) guerilla marketing B) lifestyle marketing C) brand recognition development D) poor marketing judgment due to alienating customers
The salvage value of a new piece of equipment should be considered when using the internal rate of return method to evaluate a project
Indicate whether the statement is true or false
A company recorded office supplies in an asset account when the supplies were purchased. Failure to take inventory and make an adjusting entry will result in an
a. understatement of liabilities. b. understatement of stockholders' equity. c. understatement of assets. d. overstatement of stockholders' equity.
The pervasiveness of crises in society has made public relations best known for crisis management
Indicate whether the statement is true or false