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diss

week 1

Laws and Regulations (graded)

Do laws and regulations always restrict or impede the efforts of business professionals, or can they actually help businesses? In addition to this, could you list some examples of laws or regulations that may have impeded business lately?

Entrepreneurship Failure (graded)

The risk of failure is an inherent part of free enterprise. Does society have an obligation to come to the aid of entrepreneurs who try but fail? Why or why not? Also, please discuss some ways you can minimize your risk.

week 2

Global Markets (graded)

How can a company use licensing agreements to enter world markets? What two fundamental product strategies do companies choose between when selling their products in the global marketplace?

diss 2

Corporate Social Responsibility (CSR) (graded)

Is it ethical for companies to benefit from their efforts to practice corporate social responsibility? Why or why not? How can anyone be sure that CSR efforts aren’t just public relations ploys?

week 3

Starting a Business (graded)

What are the advantages of buying a business rather than starting one from scratch? What are the advantages and disadvantages of owning a franchise?

Early Adopters (graded)

Do you consider yourself an early adopter when it comes to trying out new products or new fashions, or do you tend to take a wait-and-see attitude? How does your attitude toward new products and new ideas influence your decision making as a consumer?

week 4

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Purchasing Process (graded)

Think of a product you recently purchased and review your decision process. Why did you need or want that product? How did the product’s marketing influence your purchase decision? How did you investigate the product before making your purchase decision? Did you experience cognitive dissonance after your decision?

Advertising (graded)

Think about an advertisement (in any medium) that had either a strongly positive or strongly negative effect on your attitude toward the product being advertised or the advertiser itself. Why did the ad have this effect? If you responded positively to the ad, do you think you were being manipulated in any way? If you responded negatively—and you are a potential buyer of the product that was advertised—what changes would you make to the ad to make it more successful?

week 5

Motivation Theories(graded)

Chapter 10 discusses several styles of leadership, including autocratic, democratic, and laissez-faire. How do each of these styles relate to Theory X and Theory Y assumptions about workers?

Benefit Choices (graded)

When you begin interviewing as you approach graduation, you will need to analyze job offers that include a number of financial and nonfinancial elements. Which of these aspects of employment are your top three priorities: a good base wage; bonus or commission opportunities, profit-sharing potential; rapid advancement opportunities; flexible work arrangements; good healthcare insurance coverage; or a strong retirement program? Which of these elements would you be willing to forego in order to get your top three?

week 6

Supply-Chain Management (graded)

How can supply-chain management (SCM) help a company establish a competitive advantage? What are ways that companies can improve their supply chains?

Technology Improvement (graded)

Business is stalled. Sales last month were 10 percent less than the previous month and so far this month is looking even worse than last month. Could technology help you answer the decrease in sales? What technologies could you deploy to increase sales?

week 7

Accounting Firm (graded)

The senior partner of an accounting firm is looking for ways to increase the firm’s business. What other services besides traditional accounting can the firm offer to its clients? What new challenges might this additional work create?

Financial Control (graded)

The company you cofounded last year is growing rapidly and has strong prospects for an IPO in the next year or two. The additional capital that an IPO could raise would let you hire the brightest people in the industry and continue to innovate with new product research. There is one potential glitch: You and the rest of the executive team have been so focused on launching the business that you haven’t paid much attention to financial control. You’ve had plenty of funds from venture capitalists and early sales, so working capital hasn’t been a problem, but an experienced CEO in your industry recently told you that you’ll never have a successful IPO unless you clean up the financial side of the house. Your cofounders say they are too busy chasing great opportunities right now and they want to wait until right before the IPO to hire a seasoned financial executive to put things in order. What should you do and why?

quizes

(TCO 1) A(n) _____ is a framework of how a business intends to generate revenue.

Student Answer: business model

strategic management tool

profitability analysis

competitive advantage

entrepreneurial mindset

Instructor Explanation: Chapter 1, page 4

Points Received: 5 of 5

Comments:

Question 2. Question : (TCO 1) All internal and external groups affected by a company's activities are referred to as its _____.

Student Answer: shareholders

customers

stakeholders

employees

suppliers



Comments:

Question 3. Question : (TCO 1) The _____ function of a business involves the recruiting, hiring, and support of its personnel.

Student Answer: operations

finance

human resources

accounting

information technology



Comments:

Question 4. Question : (TCO 1) _____ is defined as having two consecutive quarters of decline in the country's gross domestic product.

Student Answer: Deflation

Stagnation

Immobilism

Stagflation

Recession



Comments:

Question 5. Question : (TCO 1) _____ unemployment is the natural movement of workers into and out of jobs, such as when a person quits one job without first lining up a new job.

Student Answer: Structural

Intrinsic

Frictional

Cyclical

Seasonal



Comments:

Question 6. Question : (TCO 1) _____ taxes are levied on earnings of individuals to help fund Social Security, Medicare, and unemployment compensation.

Student Answer: Excise

Payroll

Sales

Income

Property



Comments:

Question 7. Question : (TCO 1) _____ intelligence involves reasoning, problem solving, memorization, and other rational skills.

Student Answer: Cognitive

Emotional

Social

Collaborative

Networking



Comments:

Question 8. Question : (TCO 1) A(n) _____ is a specific, short-range target or aim.

Student Answer: mission

tactic

strategy

objective

vision



Comments:

Question 9. Question : (TCO 1) _____ leaders act as advisors and supporters and generally let subordinates chart and adjust their own course toward meeting agreed-upon goals and objectives.

Student Answer: Participative

Consultative

Autocratic

Transactional

Laissez-faire



Comments:

Question 10. Question : (TCO 2) The United States restricts the import of peanuts to a maximum of 1.7 million pounds per year to protect the price that domestic producers can charge. This is an example of a(n) _____.

Student Answer: import subsidy

embargo

import quota

import tariff

restrictive import standard



Comments:

Question 11. Question : (TCO 2) The _____ was established to foster international financial cooperation and its primary functions include providing short-term loans to countries that are unable to meet their financial obligations and working to alleviate poverty in developing economies.

Student Answer: World Trade Organization

World Commerce Center

European Union

North American Free Treaty

International Monetary Fund



Comments:

Question 12. Question : (TCO 2) Transparency International is a(n) _____.

Student Answer: accounting agency that promotes the use of unified accounting systems across the world

watchdog group that works to reduce business-government corruption around the world

agency that works toward implementing protectionist regimes across the globe

agency of the United Nations that is formed to mediate international negotiations

agency of the United Nations that is formed to investigate transparency issues in international trade



Comments:

Question 13. Question : (TCO 2) _____ refers to the degree to which information flows freely within an organization, among managers and employees, and outward to stakeholders.

Student Answer: Philanthropy

Materialism

Whistle-blowing

Transparency

Utilitarianism



Comments:

Question 14. Question : (TCO 2) Which of the following is an example of whistle-blowing?

Student Answer: An employee discloses confidential information about the company to a rival firm for personal gain.

An employee suggests some process changes to his manager that he claims will increase the productivity of the team.

An employee avoids taking ownership of his mistakes by blaming it on his coworkers.

An employee informs the manager that some of his team members are misusing confidential customer details from the company database.

An employee who is unsatisfied with his performance appraisal requests his manager for a re-evaluation of his performance.



Comments:

Question 15. Question : (TCO 2) Which of the following statements is true regarding ethical decision making?

Student Answer: When an employee is unable to make a decision because more than one side of an issue can be supported with valid arguments, it is called an ethical lapse.

The disclosure of information by a company insider that exposes unethical behavior by others within the organization is called an ethical lapse.

Stakeholders' needs often conflict, requiring managers to make tough decisions about resource allocation.

Making objective decisions will lead to ethical lapses.

When the question of what is right and what is wrong is clear, ethical decisions are easy

to implement.



Comments:

(TCO 3) Which of the following is true about a small business?

Student Answer: A small business is one that employs between 500 to 1000 employees.

A small business is usually funded by personal lines of credit and not through bank loans and microlenders.

A small business is one that is not dominant in its field.

A small firm usually curtails the freedom to innovate.

A small firm avoids risks that larger firms are willing to take.

Instructor Explanation: Page 117


Comments:

Question 2. Question : (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 _____.

Student Answer: mid-size enterprise

retail business

lifestyle business

high-growth venture

service business



Comments:

Question 3. Question : (TCO 3) Three factors contributing to the increased number of small businesses are technologies such as e-commerce, growing diversity in entrepreneurship, and _____.

Student Answer: downsizing and outsourcing

increased ease in going public

nationalization

market regulation

monopolistic business practices



Comments:

Question 4. Question : (TCO 3) Charles is the purchase agent for a consulting firm. He places orders for office stationeries and consumables once in two weeks. The purchases are made in large quantities and are billed in the firm's name. The items that Charles buys are examples of _____.

Student Answer: specialty products

expense items

capital items

shopping products

convenience products



Comments:

Question 5. Question : (TCO 3) The introductory stage will be followed by a _____ stage for a successful product.

Student Answer: maturity

research

saturation

growth

infiltration



Comments:

Question 6. Question : (TCO 3) People who monitor social media to spot shifts in consumer tastes are called _____.

Student Answer: social arbitrators

trend watchers

crowd pullers

social developers

social programmers



Comments:

Question 7. Question : (TCO 4) Consumer purchasing differs from organizational purchasing in that consumer purchasing _____.

Student Answer: is influenced more by subconscious and emotional factors

follows a formal buying process

has greater complexity in product usage

involves closer relationships between buyers and sellers

has a greater emphasis on economic payback



Comments:

Question 8. Question : (TCO 4) The process of examining an organization's current marketing situation, assessing opportunities and setting objectives, and then developing a marketing strategy to reach those objectives is called _____.

Student Answer: stealth marketing

strategic marketing planning

marketing research

social commerce

marketing concept



Comments:

Question 9. Question : (TCO 4) Selling existing products to new markets is called _____.

Student Answer: market development

product development

market segmentation

market penetration

vertical integration



Comments:

Question 10. Question : (TCO 4) _____ refer(s) to intermediaries that sell products to other intermediaries for resale or to organizations for internal use.

Student Answer: Retailers

Wholesalers

Department store

Specialty store

Convenience store



Comments:

Question 11. Question : (TCO 4) One of the valuable services that a wholesaler might perform is _____, in which it receives large shipments from the producer and then sells smaller quantities to retailers.

Student Answer: rack jobbing

drop shipping

bundling

breaking bulk

system integration



Comments:

Question 12. Question : (TCO 4) _____ are full-service merchant wholesalers who set up displays in retail outlets, stock inventory, and perform other services, such as marking prices on merchandise.

Student Answer: Rack jobbers

Agents

Brokers

System integrators

Value-added resellers



Comments:

Question 13. Question : (TCO 4) The government agency that has the authority to impose penalties against advertisers who violate federal standards for truthful advertising is the _____.

Student Answer: Federal Communications Commission

Consumer Product Safety Commission

Federal Trade Commission

Federal Advertising Administration

Federal Regulatory Commission



Comments:

Question 14. Question : (TCO 4) In _____, behaviorally targeted ads follow users even as they move on to other websites.

Student Answer: attack ads

advocacy advertising

cooperative advertising

remarketing

search engine marketing



Comments:

Question 15. Question : (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?

Student Answer: Institutional advertising

Sales promotion

Social media

Product advertising

Personal selling



Comments:

* Times are displayed in (GMT-07:00) Mountain Time (US & Canada)

quiz 6

TCO 5) A company whose structure, policies, and capabilities allow employees to respond quickly to customer needs and changes in the business environment is termed as a(n) _____.

Student Answer:

agile organization

hyperspecialized organization

formal organization

umbrella organization

mechanistic organization

Instructor Explanation:

Page 166

Points Received:

5 of 5

Comments:

Question 2.

Question :

(TCO 5) Which of the following chain-of-command systems was developed to address the need to combine specialization with management control?

Student Answer:

Line organization

Line-and-staff organization

Agile organization

Formal organization

Informal organization


Points Received:

5 of 5

Comments:

Question 3.

Question :

(TCO 5) _____ is defined as a pathway for the flow of authority from one management level to the next.

Student Answer:

Span of management

Span of control

Departmentalization

Network structure

Chain of command


Page 167

Points Received:

5 of 5

Comments:

Question 4.

Question :

(TCO 5) Grouping departments according to similarities in product, process, customer, or geography is called _____.

Student Answer:

network structure

virtual structure

matrix structure

functional structure

divisional structure


Page 171

Points Received:

0 of 5

Comments:

Question 5.

Question :

(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 _____.

Student Answer:

need for power

need for achievement

need for self-esteem

need for affiliation

need for security


Page 223

Points Received:

5 of 5

Comments:

Question 6.

Question :

(TCO 5) Justin M. Brown, the operations manager at Vernon Manufacturing Company, formulated a strategy to motivate the firm's employees. Justin addressed employees’ dissatisfaction by increasing their salary and incentives; he employed several industrial counselors to help employees deal with work-related stress; and improved the health insurance plan provided to employees. He also motivated employees by providing greater opportunity for advancement, recognizing employees who perform well and giving employees greater responsibility to foster a sense of achievement in them. Justin's measures are based on which of the following approaches?

Student Answer:

McClelland's three-needs theory

Theory X

Theory Y

Herzberg's two-factor theory

Scientific management


Page 223

Points Received:

5 of 5

Comments:

Question 7.

Question :

(TCO 5) _____ connects an employee's efforts to the outcome he or she thinks will result from those efforts.

Student Answer:

Maslow's hierarchy


David McClelland's three needs theory

Expectancy theory

Equity theory


Page 224

Points Received:

5 of 5

Comments:

Question 8.

Question :

(TCO 5) _____ suggests that employee satisfaction depends on the perceived ratio of inputs to outputs.

Student Answer:

Maslow's hierarchy


David McClelland's three-needs theory

Expectancy theory

Equity theory


Page 225

Points Received:

5 of 5

Comments:

Question 9.

Question :

(TCO 5) Which of the following statements is true about management by objectives?

Student Answer:

It suggests that employee satisfaction depends on the perceived ratio of inputs to outputs.

It has not been validated by experimental research.

It reduces employee involvement in goal setting and decision making.

It reduces employee stress by removing specific goals and targets.

It ensures that employees’ activities are directly linked to achieving the organization's long-term goals.


Page 227

Points Received:

5 of 5

Comments:

Question 10.

Question :

(TCO 5) K.M. Retailers, an international consumer products retail chain, gives preference to women and minority-owned suppliers and subcontractors. The firm hires a large number of employees from ethnic minorities and the human resource department keeps the interests of these groups in mind while framing company policies. In this example, K.M. Retailers uses which of the following strategies?

Student Answer:

Job enrichment

Ethnocentric policies

Decentralization

Deregulation

Diversity initiatives


Page 247

Points Received:

5 of 5

Comments:

Question 11.

Question :

(TCO 5) Quality of hire measures _____.

Student Answer:

the amount of money spent in hiring and training new employees

the level of productivity of employees in the probationary period

how closely incoming employees meet the company's needs

the percentage of minority groups in a firm's workforce

the percentage of the workforce that leaves every year


Page 248

Points Received:

5 of 5

Comments:

Question 12.

Question :

(TCO 6) The sequence of activities that takes the longest time from start to finish in a PERT diagram is called the _____ path.

Student Answer:

external

lagging

minor

critical

buffered


3

Points Received:

5 of 5

Comments:

Question 13.

Question :

(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.

Student Answer:

discounted

PERT

JIT

buffered

economic order based


Page 205

Points Received:

5 of 5

Comments:

Question 14.

Question :

(TCO 6) _____ refers to the creation of identical goods or services in large quantities.

Student Answer:

Mass customization

Batch-of-one production

Mass production

Customized production

Mass personalization


Page 206

Points Received:

5 of 5

Comments:

Question 15.

Question :

(TCO 6) _____ is a comprehensive approach of companywide policies, practices, and procedures to ensure that every product meets quality standards.

Student Answer:

Statistical process control

Quality assurance

Quality control

Quality directive

Corrective management

assignment

Week 3: LEMONADE STAND, PART I

Background

As you have read about in our lecture, we have used a lemonade stand to help us understand some basic concepts of business. As we pointed out, a lemonade stand has a simple business structure; yet, it can help us understand almost every function of a firm; such as marketing, operations, finance, technology, entrepreneurship and many other aspects. In our two assignments in this course, you will own and operate your very own lemonade stand as you apply the knowledge you have learned from the course.

Scenario

You have decided to open a lemonade stand in your local neighborhood. You have grand plans for this stand and expect to attract many customers. In part I of this assignment, you will develop the basic premise of your new company. Please answer the following questions, utilizing the textbook, to ensure you apply the lesson we have learned in the previous weeks.

- Develop a creative name for your Lemonade Stand, and then explain why a name is important when you are considering branding options?

- Create a Mission Statement for your Lemonade Stand (Chapter 7); then explain why a mission statement is important for any company?

- You are very involved in your community; please outline your CSR plan (Chapter 4) for your business.

- The textbook lists many different types of pricing strategies, please pick one of these and explain how you will deliver on this strategy with your stand. (Chapter 14)

- Even though you only sell to local customers, you understand that you could package your lemonade and sell it online globally. Evaluate whether or not the company should go global by creating an online presence and selling your lemonade online (Chapter 3).

Activity

You are to write roughly 500 words in answering all questions posted above for your Lemonade Stand. (Please note: you may list the questions in your paper and answer these in a step by step process, but the word count will only apply to your written words).

The paper needs to be written in an APA format and should have at least your textbook listed as a scholarly source in your bibliography. Please view the APA tutorial in your syllabus for more on how to format your paper. Your paper should include a cover page and running header as stipulated by APA formatting.

This paper will be evaluated on how you apply the concepts that are detailed in the textbook to a practical idea. In order to receive the highest grade, it is encouraged that you review the textbook and cite specific area of the text in your responses (taking care in citing these properly). Additionally, while

this is not an English class, grammar will account for a portion of your paper. Please take care in writing a well develop response.

Note: For this paper and other papers that you will write in college, please note that when you reference or cite a text, if you use words that are directly from a source, they must be in quotations and cited. If you are just referencing them and have changed the words, a citation is all that is required. One final point, when writing anything in college, you must adhere to the 80/20 rule: 80% of the papers should be in your own words, while 20% make up any citations you may add. Violation of this rule could result in a zero for the assignment.

Grading Rubric

Grading Rubric:Category

Points

Description

Criteria/Creativity

30

Demonstrate a strong grasp of the question and be able to demonstrate an understanding of how the course concepts apply to the situation.

Understanding

50

Be sure you show mastery of the course content by applying concepts from the lectures and text and showing citations from the text when answering the questions.

Execution

20

Write your answers clearly and succinctly using strong organization and proper grammar. Use citations correctly. The paper must exceed 500 words (not including the cover page, citation or any repeating of the questions).

Total

100

A quality paper will meet or exceed all of the above requirements.

BUSN115 Week 5: Lemonade Stand, Part II

Informal Business Report

Background

In part II of this assignment, we continue to outline various business aspects of our lemonade stand. As you continue to learn new concepts in this course, you have seen how a lemonade stand can help us

understand and apply these concepts. In Part II of your lemonade stand we will incorporate concepts from weeks 4 and 5 and apply these to your newly created company.

Scenario

In week 3, you created a lemonade stand that you opened in your local neighborhood; you created a name, developed a mission statement, outlined a CSR plan, and picked a pricing strategy for this new company. This week you will continue to develop your idea by writing an informal business report that will share your plans with a potential business investor. A report template is available in Doc Sharing to guide you through formatting of this assignment; however, the main prompts you should address in the report include:

- Branding strategy. In Part I, you decided part of the brand when you developed your pricing strategy. Continue with the other parts of the marketing mix (Place, Promotion, and Product), and discuss how the lemonade stand should be branded utilizing this marketing mix (Chapter 13).

- Opportunities for new locations. Your stand in your neighborhood has been very successful and you are considering expanding operations. In doing so, you will need to outline some criteria for potential new locations (Chapter 15).

- Promotion plans. You have a $ 10,000 budget to promote your stand in the local community. Please outline two or three ways you could promote this business (please include costs involved in these promotions) (Chapter 16).

- Employee Training. You have hired several people to run your lemonade stand, as you simply are too involved in the strategic aspects of the business. As such, you have seen sales drop. What are some ways you can motivate your employees to improve sales? (Chapter 10)

Activity

Once you have considered the points above, please provide responses and explanations using the template provided in Doc Sharing (titled “Lemonade Stand Informal Business Report”). Utilize your textbook and apply the lessons we have learned in previous weeks to develop and support your plans. By offering support and developing your response, you must provide examples, elaboration, or justification, often in the form of information gathered from your textbook. When integrating support from your textbook, be sure to use APA style to provide in-text citations within the paragraph and a full end reference on a separate Reference Page after the Business Plan. Examples of APA formatting are included in the template.

You are to write roughly 500 - 750 words in answering all points posted above for your Lemonade Stand.

This informal business report will be evaluated on how well you apply the concepts that are detailed in the textbook to a practical idea. In order to receive the highest grade, it is required that you review the textbook and cite specific areas of the text in your responses (taking care in citing these properly in APA style). Additionally, while this is not an English class and while the content of your ideas is most important, grammar and sentence structure will account for a portion of your report grade. Please be sure to write well-developed responses in complete sentence and paragraph format.

Note: For this assignment and other college writing assignments, please note that when you reference or cite a text, if you use words that are directly from a source, they must be in quotations and cited. If you are just referencing them and have changed the words, a citation is still required. One final point, when writing anything in college, you must adhere to the 80/20 rule: 80% of the papers should be in your own words, while 20% make up any citations you may add. Violation of this rule could result in a zero for the assignment.

final

Question 1.1.(TCO 7) The relationship between a PERT chart and a Gantt chart includes which of the following? (Points : 5)

A Gantt chart is used for forecasting sales.

A PERT chart is used for measuring progress.

They are both considered to be control procedure monitors.

Both use a critical path to delineate the flow of materials.

A PERT network can be made up of thousands events over many months.

Question 2.2.(TCO 7) Operations management includes (Points : 5)

facility location but not layout.

facility layout but not location.

capacity planning.

holding output steady while lowering costs.

None of the Above.

Question 3.3.(TCO 8) The era of sustainability has entered into distribution as well as the other aspects of marketing. Given this information, (Points : 5)

the decision of what distribution mode to use is less complex than first imagined.

emissions from air freight are lower than rail shipping.

emissions from air freight are higher than ocean shipping.

motor transportation is more fuel efficient per ton-mile than rail.

transportation accounts for one third of carbon dioxide emissions.

Question 4.4.(TCO 8) If there is one thing that advertisers agree upon, it is the growing importance of social media in product promotion. Given this information, (Points : 5)

investing in social media hinders a company in reaching its goals.

social media needs to work hand in hand with other channels.

social media reaches old audiences that have new devices.

nontraditional audiences are the new target for social media.

social media and direct mail are complementary to one another.

Question 5.5.(TCO 1) You own a hardware store in the small town where you live. A big-box, multiline competitor has just opened. You see the following as your advantages of maintaining your market share and continued sales revenue. (Points : 5)

Strictly adhere to your previous five-years business plans

Providing improved customer service

Increasing your inventory levels

Opening a branch store across the street from the big box

Charging your customers for consultation time when they ask for advice

Question 6.6.(TCO 1) As a pharmacist in your community, you are concerned with the level of service provided to those in need at odd hours and after hours and in the neighborhoods where such extended service is needed. Your concerns are centered on which of the following? (Points : 5)

Making products and counseling available when consumers need them

Changing the buying behaviors of consumers

Understanding the risks of some of the products offered for sale

Doing whatever is necessary to provide credit through debit cards and credit cards

Providing open and free-flowing communication to the consumers

Question 7.7.(TCO 1) A technique that combines all the promotional tools into one comprehensive, unified promotional strategy includes _____. (Points : 5)

The creation of a positive brand image

Meeting the needs of distributors

Meeting the strategic marketing goals of your main supplier

Meeting the needs of the indigent in your community

Meeting profit expectations of external investors

Question 8.8.(TCO 2) There have been reports of cell phone service sales representatives who actually lie to get customers to extend their contracts or even extend their contracts without the customers’ knowledge. Some phone reps intentionally hang up on callers to prevent them from canceling their contracts. Why do these sales reps sometimes resort to overly aggressive tactics? (Points : 5)

Excellently designed incentive programs reward them tax free

Salaries can be reduced by half in such instances

Their managers say, “Deceive the customers.”

Overly ambitious goals and incentives create an environment in which people can learn and grow.

Overly ambitious goals and incentives create an environment in which unethical actions are tolerated.

Question 9.9.(TCO 2) The Uniform Commercial Code includes _____. (Points : 5)

Laws that cover promissory notes and checks

Legally enforceable agreements between two or more parties

Bills in the form of Accounts Payable

Laws that cover international transactions

Invoices in the form of Accounts Receivable

Question 10.10.(TCO 2) The change in U.S. business from manufacturing to knowledge-based technology has created new regulatory challenges for federal agencies. This means _____. (Points : 5)

The government’s resolve to pursue corporate income tax evasion cases has increased

Competition is a cornerstone of a knowledge-based economy.

Antitrust oversight has always been the rule.

The definition of competitive advantage has been limited

Antitrust issues will persist in the future.

Question 11.11.(TCO 3) One advantage of offshore outsourcing is _____. (Points : 5)

Less strategic tasks can be sourced so that companies can focus on sales and marketing

Communication among company members, suppliers, and customers is problematic.

Outsourced work allows companies to create efficiencies that in fact let them fire more workers.

Consumers benefit from lower prices generated by effective use of global resources and developing nations.

Offshore outsourcing may reduce product quality and can therefore cause damage to a company’s reputation.

Question 12.12.(TCO 3) Nations trade with other nations because _____. (Points : 5)

They can produce all the products their people want and need.

Buying and selling products is allowed by international treaty.

Sophisticated technology allows for the improved use of natural resources.

Buying and selling products is allowed by verbal contracts.

They are able to buy what is needed in a mutually beneficial exchange relationship.

Question 13.13.(TCO 3) In 1948, a global forum was created whose purpose it was to reduce trade restrictions on goods, services, ideas, and cultural programs. The result of the efforts of this organization includes _____. (Points : 5)

The creation of regional alliances

Increase of tariffs worldwide

Expansion of new trade rules to areas like agriculture

The protection of the value of the dollar

Overcoming constraints and decrease business opportunities

Question 14.14.(TCO 4) Starting your own business(Points : 5)

Is an alternative to unemployment.

Is not risky.

Allows others to control your future.

Is not difficult and does not require sacrifice.

Question 15.15.(TCO 4) A disadvantage of a corporation is _____. (Points : 5)

Simplified tax returns

Simplified Record Keeping

Simplified operations in overseas markets

Difficulty of termination

Perpetual life

age 2

Question 1.1.(TCO 5) Which of the following pairs represent an advantage and a disadvantage of marketing to a mobile phone rather than a fixed computer (Points : 5)

Mobile phone users are accustomed to advertising interuptions while fixed computers have limited links to retailer websites

The mobile phone is operating most of the time but the interactivity is less than a fixed computer

The screen size of fixed computers is larger but screen enlargement overcomes that limitation in mobile phones

Fixed computers can provide advertising based on where you happen to be while mobile phone advertisements are limited to product categories

Question 2.2.(TCO 4) To look at problems and/or passions and see opportunities in them, which of the following questions should be asked? (Points : 5)

Where can I find a solution?

What services would improve society?

What products would improve my life?

What products are least significant?

What products would improve all mankind?

.

Question 3.3.(TCO 5) Electronic wireless technology continues its move toward ubiquity. Such media inculcates: (Points : 5)

National market information

International market information

Client information

Company information

Competitor information

Question 4.4.(TCO 5) You are an independent Internet Marketing Consultant. You have an excellent track-record of assisting small to medium sized companies fully realize their marketing potential through an improved and enhanced presence on the world-wide-web. Mr. Top Hatt, the owner of a small pet-grooming salon (Hatt’s Cat Grooming Emporium) specializes in the care and grooming of cats and only cats has just called you. Mr. Hatt has heard of the Internet but doesn’t know much else. He would like for his cat grooming business to grow by using the Internet but doesn’t know what to do. A recommendation is: (Points : 5)

Building and improving relationships with customers

Online advertising to get potential customers to the website

Announcing weekly sales promotions so customers will make a purchase

Information to competitors and near-competitors

Website software to send “spam” email messages

Question 5.5.(TCO 6) An element of Planning is: (Points : 5)

Providing constructive feedback

Determining reconstruction needed

Promulgating financial statements

Setting precise standards

Establishing standard procedures

Question 6.6.(TCO 6) You have been recently hired as the new Employee Development and Training Director at a small utility engineering company. Your boss, the company founder as well as President and CEO of the firm has specifically asked your assistance in finding a way to improve creativity in his engineers through a process called job enrichment. You have thought about this for a few days and now feel that it is necessary to meet with your boss to present your ideas concerning motivation and performance. One idea that you would present to him is: (Points : 5)

The extent to which a job demands the same skills

The degree to which the job requires doing a task with a visible outcome from beginning to end

The The degree to which the job has an insubstantial impact on the lives or work of others

The degree of indiscretion in scheduling leisure time

The amount of direct and clear information given about team goals

Question 7.7.(TCO 6) The steps to Mining Group Gold include: (Points : 5)

Defining the behavioral parameters of a unique subset of cultures

Establishing a zone of proximal development

Setting expectations for reasonableness of the ideas presented

Establishing clear and concise expectations of factual information

Conducting a series of time-checks throughout the meeting

Question 8.8.(TCO 7) One development that has changed production techniques is the integration of computers into the design and manufacturing of products. One process that this includes is: (Points : 5)

Process manufacturing

Intermittent process

Computer-aided design

Flexible manufacturing

Process flexible-aided design

Question 9.9.(TCO 8) The Marketing Manager is responsible for choosing how to implement which one of the following: (Points : 5)

Production capacity

Place

Reselection consideration

Profit

Earnings before interest and taxes

Question 10.10.(TCO 9) Using social media is an important component in today’s business environment. Partnering with customers in this manner includes which one of the following:(Points : 5)

Understanding broadband technology, such as fiber-to-the-home

Allowing network capacities to maximize

Understanding the impact of your telephone system

Being disingenuous to customers

Responding to customers in a timely manner

Question 11.11.(TCO 9) Collaboration software allows multiple users to work on the same document at the same time. It also facilitates videoconferencing so that participants can see and hear each other regardless of where they are. One advantage of using such software is: (Points : 5)

Multiple locations for the information being edited and saved.

Multiple copies of the information so back-ups are not necessary.

The software is considered shareware and is therefore not copyrighted.

The software being considered public domain software and free for the taking.

Multiple locations where the information is stored provides quick access.

Question 12.12.(TCO 9) Which of the following does NOT assist professional and managerial business information systems: (Points : 5)

High-level tasks such as new product design

Analyzing the organization’s financial information

Planning relatively short-term/tactical objectives

Identifying trends within the industry

Transaction processing systems to further assist with the daily flow of data

Question 13.13.(TCO 10) The role of information technology has changed since the days when it was known as data processing. You have been hired as the new manager of the IT department for Megalopolis Corporation. Megalopolis Corporation manufactures and sells barbecue grills to the middle-upper end of the market. Demand continues to be strong for all products. However, providing service (both warranty and non-warranty) continues to be a challenge. In essence, having the right parts at the right place at the right time is not an easy task. Given this information, one of your “must-do-first” priorities is: (Points : 5)

Reviewing current operations in the IT department to determine processes that can be made more efficient.

Explore the possibilities of providing real-time manufacturing and shipping data to your competitors.

Review the information that is gathered by the customer relations staff that might assist in degrading existing customer relationships.

Review the non-warranty ordering process to deteriorate communications with suppliers.

Exploring new markets through an improved online presence of the company.

Question 14.14.(TCO 10) Financial accounting includes which one of the following: (Points : 5)

The preparation and distribution of an a periodic report

A summarization of the costs of production

The preparation of departmental budgets

Compliance with the Financial Accounting Standards Board (FASB) guidelines

Reviewing and evaluating the information used to prepare a company’s financial statements

Question 15.15.(TCO 10) Imagine that you have just earned your business degree and have been hired as a hospital administrator at a small hospital that, like many others, is experiencing financial problems. A suggestion that you would make to help improve the financial position of the hospital and correct the financial problems is: (Points : 5)

Improve the efficiency of the hospital’s cash management system

Use a carefully planned lawn care service

Continue the hospital’s large stockpile of drugs

Cease using a just-in-time inventory system

Use a carelessly planned inventory control system

Page 3

Question 1. 1. (TCO 1) The latest economic news is not very positive. Unemployment rates are higher than expected, consumer confidence has fallen, and companies are reporting layoffs are in order. The Federal Reserve chairman acknowledges the economy is in a recession. What actions might the federal government and the Federal Reserve take to give the economy a boost? What are these policies called? (Points : 10)

Question 2. 2. (TCO 2) Identify and discuss the social responsibilities of Home Depot to three different stakeholder groups. (Points : 15)

Question 3. 3. (TCO 3) Discuss the positive aspects of globalization, and contrast these with the negative aspects of globalization from the perspective of a small business. Be sure to address the pros and cons of outsourcing in your response. (Points : 15)

Question 4. 4. (TCO 4) Identify and explain the incentives for entrepreneurship. Address why someone would willingly take the numerous risks associated with running a business. Also, discuss the major attributes necessary for a successful entrepreneur. (Points : 15)

Question 5. 5. (TCO 5) Aside from retail sales and marketing, identify and discuss two ways that a business could reduce costs or increase profits by using the Internet or web applications. (Points : 15)

Question 6. 6. (TCO 5) Describe the stages and consumer passes through when making a purchase decision. Give examples of each stage. (Points : 15)

Question 7. 7. (TCO 7) Given the following companies—Boeing (airliner manufacturer) and Dell Computer (computer manufacturer)—which facility layout would be the most suitable for each? Justify your response. How would each company determine the location of its facilities? List the specific needs and requirements of each company when determining location. (Points : 15)

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