Business Information Quiz # 5

Members of the marketing team are most often involved with ________.

Sales promotions, public relations, and advertising

Advertising, human resources, and customer relations

Negotiating between buyers and sellers of the goods and services

Licensing contracts and advertising

Distribution channels, customer relations, and information technology

Mixing _______ with ________ improves creativity.

Balance ;fact

Opinion ;private

Time ;collaboration

Opinion; fact

Most small businesses are more _____ than _____.

Cost-directed; profit-directed

Imitative; innovative

Profit-directed; cost-directed

Innovative; imitative

Most workers learn what is expected as far as performance on the job from group ________.

Roles

Size

Cohesiveness

Norms

Odd prices often suggest __________ to consumers.

Superior quality

Low quality

Expired merchandise

Foreign-made goods

Uniqueness

Of minority groups in the united states, ________ own the most small businesses.

Hispanics

Mexicans

Latinos

Filipinos

Organizing a successful firm in a market economy has become ________ over the last century.

More difficult

More easier

Equal

Outsourcing some production is a means of _________ a capacity constraint.

Identifying

Modifying

Supporting

Overcoming

Repeating

Owning ten stocks rather than two illustrates the concept of ________.

Asset allocation

The risk return relationship

Diversification

Money market funds

Prospecting

People aged __________ are the most entrepreneurially active in the united states.

25-34

45-54

55-64

75-84

People you think might be receptive to your sales presentation are called ________.

Onsumers

Customers

Interested parties

Prospects

Planning gives organizations a way to deal with change that ________.

Eliminates all uncertainty

Reduces uncertainty

Reduces certainty

Increases ambiguity

Political behaviors usually ________.

Lie outside of an individual's specified job requirements.

Are frowned upon by organizational leaders.

Are counterproductive to individual goals.

Are seen only in large organizations.

Are expected as part of each job requirement

Poor business processes is an example of the ________ dimension of business problems.

Management

Organizational

People

Infrastructure

Porter's competitive forces model includes _________ forces that impact every organization.

4

5

6

2

Possible explanations for or solutions to a problem are termed as _____.

Hypotheses

Problem statements

Bases

Mission statements

Purpose statements

Price should reflect the organization's ________.

Strategy

Policy

Vision

All of the above

None of the above

Professional careers in information systems require all of the following except ________.

A degree in computer engineering

Good written communication skills

Good verbal communication skills

A degree in business

Profit incentivizes _____.

Entrepreneurs

Markets

Customers

Governments

Profit is the reward for business in exchange for the ____ taken in providing products.

Risks

Markets

Customers

Governments

Profits allow a company to ________.

Lower employee wages

Lower standards of living for the entire society.

Increase productivity

Promotional pricing tactics include __________.

​customer-segment pricing,​ location-based pricing, and​ time-based pricing

​discounts, special-event​ pricing, and limited time offers

Functional​ discounts, limited time​ offers, and​ location-based pricing

​discounts, geographical​ pricing, and​ special-event pricing

​discounts, limited time​ offers, and reference prices

Salespeople often are paid a _______ based on a percentage of their sales.

Commission

Salary

Royalty

Price rate

Service or product quality is most likely to be crucial in a business plan for _____.

Potential customers

Commission

Salary

Royalty

Price rate

Similar to how large businesses proceed, small businesses make marketing decisions ____________.

After the product or service is developed

Before the business is funded

At the same time that they hire employees, research for an accountant, and prepare the business plan

Before a product is developed or store is opened

Small business owners can seek professional advice at no cost through ________.

The Service Corps of Retired Executives

After the product or service is developed

Before the business is funded

At the same time that they hire employees, research for an accountant, and prepare the business plan

Sole proprietorships have all of the following advantages except ________.

Unlimited life

Ease of formation

Profits subject only to a single tax

Ease of liquidation

Some organizations fail to make the connection between training and _____.

Technology

Competition

An organization's goals

An organization's functional requirements

Successful businesses are built on ________.

Repeat business

Big sales

Frequent sales

Intermittent business

Occasional business

Successful managers tend to be better at ________.

Helping others achieve goals rather than themselves

Facilitates the firm's goals and is appropriate to its industry, size, technology, and competitive environment

Upholds the status quo

Actively resists organizational change

Does not allow any compromise on the globalization-localization continuum