Business Information Quiz # 4

Compared to cds, basic savings accounts are _____ liquid and have _____ interest rates.

More, lower

Less; higher

Less; lower

More; higher

Consumer ____________ is central to a capitalist economy.

Sovereignty

Quantities

Along

Quantity

In the context of diverse workforces, _____ is a secondary characteristic of diversity.

Gender

Sexual orientation

Marital status

Age

Ethnicity

____ resources are used to meet obligations to investors and creditors.

Tangible

Intangible

Material

Financial

_____ are an example of a fringe benefit provided by a company to its employees.

Laundry services

Bonuses

Pension plans

Food services

_____ do not have the authority to make decisions.

Self-designing teams

Employee involvement teams

Semi-autonomous work groups

Self-managing teams

_____ is a marketing strategy that creates new products for present markets.

Product penetration

Market penetration

Product development

Target Market

_____ refers to a process in which two or more people get together to generate new ideas.

Lateral thinking

Mind mapping

Brainstorming

Speed thinking

Concept mapping

_____ refers to searching and capturing new ideas that lead to business opportunities.

Innovation

Entrepreneurial alertness

Opportunity recognition

Technology transfer

________ cultures value hard work and promote entrepreneurial risk taking.

Short-term oriented

High uncertainty avoidance

Individualist

Collectivist

________ has helped small businesses compete with larger businesses.

Technology

Retailing

Wholesale

________ is a set of principles concerned with reducing waste and improving flow.

Lean production

Mass production

None

Both job order costing and process costing ________.

Maintain a single Work-in-Process Inventory account

Treat all period costs as product costs

Follow last-in, first-out method for inventory valuation

Have the same type of product costs

Customers' perceptions of a product are called the product's _____.

Brand

Attributes

Marketing mix

Web logs

Deciding the sequence of operations a company will use to create its product is called ________.

Product planning

Capacity planning

Location economies

Process planning

Ethics are _____.

Moral principles

Capacity planning

Location economies

Process planning

Ethics are the standards of right and wrong set for us by society, whereas the law is __________.

A higher calling where society acknowledges that we must take a higher level of action against what may be perceived as a wrongful act

The specific and certain way of solving right and wrong that goes beyond what we consider good ethical behavior

The minimum protection a society enacts toward behavior that is harmful to many

Obeyed strictly out of compliance, whereas ethical behavior is in complianc

Every person has the _____ and _____ to pursue a career as an entrepreneur.

Stubbornness; stupidity

Potential; free choice

Rights; regulations

Obligation; duty

Giving consumers larger quantities at a low price would help taco bell regain _____.

The highest profit margin in fast food

Prestige product status

Word of mouth advertising

Status quo pricing

Competitive advantage

If a firm can earn ________, the firm is creating value for its shareholders.

Diminishing returns

Above-average returns

Marginal returns

Market-average returns

In _____, many firms compete by selling differentiated products.

Oligopoly.

Monopoly

Monopolistic competition

In a ________ structure each business unit has complete autonomy to reach its goals.

Simple

Functional

Divisional

Matrix

In a generic value chain, a firm's after-sales service will be referred to as its _____.

Primary activity

Support activity

Static resource

In a large corporation, shareholder responsibilities include ________.

Electing a board of directors

Primary activity

Support activity

Static resource

In corporations, owners are __________________ and managers are ________________.

Agents; principals

Stockholders; bondholders

Principals; agents

Agents; employees

In porter's five forces model, the threat of new entrants concerns the danger of ________.

Customers taking their business elsewhere

The majority of firms generate sustained growth

About 50 percent of firms generate sustained growth manufacturing firms tend to generate sustained growth while service firms do not

Service firms tend to generate sustained growth while manufacturing firms do not

In regard to firm growth, evidence shows that ________.

Relatively few firms generate sustained growth

The majority of firms generate sustained growth

About 50 percent of firms generate sustained growth manufacturing firms tend to generate sustained growth while service firms do not

Service firms tend to generate sustained growth while manufacturing firms do not

It typically requires at least ________ years to develop a company worth harvesting.

Twenty

Fifteen

Twelve

Ten

Japanese managers tend to be ____ in their decision-making style when compared with u.s. managers.

More autocratic

About the same

More likely to involve very few people

More participatory

Market planning is a type of ________.

Day-to-day planning

Financial planning

Strategic planning

Independent planning

Functional planning