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BUSN 115/ BUSN115 WEEK 2 STUDY GUIDE QUESTIONS&ANSWERS
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1. (TCO 1) _____ is money that an organization brings in through the sale of its goods and services.
2. (TCO 1) The _____ function of an organization coordinates the incoming flow of materials and the outgoing flow of finished products.
3. (TCO 1) _____ audit the financial reports of public companies as required by law.
4. (TCO 1) _____ is defined as having two consecutive quarters of decline in the country’s gross domestic product.
5. (TCO 1) Inflation is a major concern for consumers, businesses, and government leaders, because it _____.
6. (TCO 1) ________ taxes, levied on the earnings of individuals and businesses, are the government’s largest single source of revenue.
7. (TCO 1) Socially adept managers will have a knack for _____.
8. (TCO 1) In order to be effective, a business goal should be _____.
9. (TCO 1) _____ is the management function of keeping a company’s activities on track toward previously established goals.
10. (TCO 2) _____ limit the amount of particular goods that countries allow to be imported during a given year.
11. (TCO 2) The North American Free Trade Agreement (NAFTA) was formed by the United States, Canada, and _____.
12. (TCO 2) _____ are long-term partnerships between two or more companies to jointly develop, produce, or sell products.
13. (TCO 2) The use of unpublicized information that an individual gains from the course of his or her job to benefit from fluctuations in the stock market is called _____.
14. (TCO 2) Which of the following statements is true regarding whistle-blowing?
15. (TCO 2) Which of the following statements is true regarding ethical decision making?
BUSN 115/ BUSN115 WEEK 4 STUDY GUIDE QUESTIONS&ANSWERS
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(BUSN 115/ BUSN115 Week 4 Study Guide Questions&Answers)
1. (TCO 3) Barbara owns a small florist shop that employs a couple of part-time floral designers. She doesn’t expect her business to grow much, but it provides her with a comfortable income and she enjoys what she does. Barbara’s business would be described as a _____.
2. (TCO 3) TechPoint, a technical writing and business documentation firm, finds it difficult to handle its training requirements. The company forms a one-year contract with Impact Inc., a language training firm, to conduct training and refresher courses for their employees. This is an example of _____.
3. (TCO 3) _____ are expensive organizational products with a long useful life.
4. (TCO 3) Absco computers introduced a low-cost, cloud-based storage service. The company adopted unit-based pricing for the product and many small businesses found the product to be very effective in reducing their storage costs. The sale of the product has increased swiftly in recent months and is at an all-time high. The product is presently in the _____ stage of product lifecycle.
5. (TCO 3) People who monitor social media to spot shifts in consumer tastes are called _____.
6. (TCO 4) Organizational purchasing differs from consumer purchasing in that organizational purchasing _____.
7. (TCO 4) _____ involves selling more of your existing products into the markets you already serve.
8. (TCO 4) Creating new products for new markets is called _____.
9. (TCO 4) Retailers differ from wholesalers in that retailers _____.
10. (TCO 4) AMS Technologies, a computer hardware reseller, purchases computer components from leading manufacturers and builds fully operational personal computer systems customized for specific consumer requirements, such as nonlinear video editing capabilities. The firm sells its products to various companies and educational institutions. AMS Technologies belongs to which of the following class of intermediaries?
11. (TCO 4) Producers rely on a class of intermediaries called value-added resellers (VARs) to assist with which of the following functions?
12. (TCO 4) The government agency that has the authority to impose penalties against advertisers who violate federal standards for truthful advertising is the _____.
13. (TCO 4) KM Group, a home products manufacturer, owns a brand of paper towels called EasyWipes. The firm creates a commercial showing how an EasyWipes paper towel absorbs a spill faster than the competitor’s paper towel. In this example, the commercial used by KM Group can be classified as __________ advertising.
14. (TCO 4) A television commercial promoting a new range of naturally flavored ice cream, manufactured by Ice Fountain, an ice cream and candy manufacturing firm, is an example of which of the following elements in the communication mix?
BUSN 115/ BUSN115 WEEK 6 STUDY GUIDE QUESTIONS&ANSWERS
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BUSN 115/ BUSN115 WEEK 6 STUDY GUIDE QUESTIONS&ANSWERS
1. (TCO 5) A diagram that shows how employees and tasks are grouped and where the lines of communication and authority flow is called a(n)_____.
2. (TCO 5) Which of the following does an organization chart do?
3. (TCO 5) _____ are those activities in which a company excels and has the potential to create competitive advantages.
4. (TCO 5) Grouping departments according to similarities in product, process, customer, or geography is called _____.
5. (TCO 5) Kelly, who had recently joined an organization, participates in all corporate events because she wants to be accepted as a friend by her coworkers. According to David McClelland’s three-needs theory, this desire is known as _____.
6. (TCO 5) Which of the following is a drawback of David McClelland’s three-needs theory?
7. (TCO 5) _____ connects an employee’s efforts to the outcome he or she thinks will result from those efforts.
8. (TCO 5) Research into equity theory has led to thinking about the broader concept of _____.
9. (TCO 5) Which of the following statements is true about management by objectives?
10. (TCO 5) The process of attracting appropriate applicants for an organization’s jobs is known as _____.
11. (TCO 5) Quality of hire measures _____.
12. (TCO 6) _____ refers to the efficiency with which an organization can convert inputs to outputs.
13. (TCO 6) Polar Refrigerator Company reduces its inventory-carrying costs by having their vendors deliver materials right before they are needed in the production process. This is an example of _____ inventory management.
14. (TCO 6) Jass Glass Studio has been hired to make a church window. A church hires the company to make ten windows based on a design provided by the church. This is an example of _____.
15. (TCO 6) _____ is a comprehensive approach of companywide policies, practices, and procedures to ensure that every product meets quality standards.