Business Foundations Final – Flashcards

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If an employee is involved with transforming resources into goods and services, then he is in
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operations management
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Viewed from the perspective of operations, the money used to purchase a carpenter's tools and the electricity used to run his power saw are
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inputs
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From an operations perspective, food sold at a restaurant and services provided by a plumbing company are
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outputs
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Operations management has the primary responsibility for
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creating products that satisfy customers.
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The nature of the service provider's product requires
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a higher degree of customer contact.
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A primary reason for using standardization is to
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reduce production costs
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Which of the following activities is not included in supply chain management?
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Researching and developing products
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All activities involved in obtaining and managing raw materials and component parts, managing finished products, packaging them, and getting them to customers are part of
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supply chain management.
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Within organizations, purchasing is also referred to as
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procurement.
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The term used to refer to the raw materials, components, completed or partially completed products, and pieces of equipment a firm uses is
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inventory.
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Many companies have improved compensation and benefits packages as a means of increasing employee
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morale
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An inner drive that directs behavior toward objectives is called
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motivation.
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Poor morale is likely to cause
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absenteesim and high turnover.
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Frederick Taylor and other early twentieth-century management theorists believed which of the following would motivate employees to work hard?
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Satisfactory pay
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Prior to the Hawthorne Studies, management theorists believed that the primary motivators of employees were job security and
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money.
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In the United States, workers' _____________________ needs, as defined by Maslow, have largely been met by minimum-wage laws and federal occupational safety standards.
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physiological and security
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Theories X and Y are most closely associated with
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Douglas McGregor
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Jane learned that, although she and June were both hired as part-time salesclerks at the same time and have similar backgrounds, June is paid $1 more per hour. Jane decided to stop cleaning dressing rooms on her shift because she thinks this is unfair. This is an example of which theory?
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Equity theory
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TNT Incorporated recently implemented a participative management program in which it gave teams of workers more control and authority over their jobs. It is using which of the following job designs?
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Job enrichment
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A work system that allows employees to choose their starting and ending times as long as they are at work during a specified core period is called
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flextime
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In some companies, the department that handles the human resources management function is called by this name:
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personnel management
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All of the following are activities performed by human resources managers except
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selling
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Determining, through observation and study, the specific tasks that comprise a job and the knowledge, skills, and abilities necessary to perform it is called
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job analysis.
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The document that contains an overview of a job's title, tasks, relationships with other jobs, physical and mental skills required, duties and responsibilities is referred to as a job
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description.
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All of the following would be external sources for recruiting except
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company websites
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Professionals who specialize in luring qualified people away from other companies are known as
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headhunters.
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When Sandy Smith moved to a new job that involved more responsibility and an increase in compensation, she received a
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promotion.
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All of the following would likely be requested on an employment application form except
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religion
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Socorro was terminated from her job by her employer because she was repeatedly late to work; she
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was fired.
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If a government agency paid its workers additional compensation at the end of the year as a thank-you for good work, this would most likely be called
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a bonus.
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Marketing creates value by
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helping people obtain what they need and want.
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When a customer hands the cashier $1 and receives a loaf of bread, which of the following has occurred?
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Exchange
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Richard has acquired a supply of canned fruits and vegetables. He does not yet have a buyer for them but he's using promotion and other activities to find a buyer. He is performing the marketing function of
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selling.
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To effectively implement the marketing concept, an organization must
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balance meeting its own objectives and satisfying customer needs
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In the 21st century, __________________ remains an essential element of any marketing strategy to develop and manage long-term customer relationships.
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Communication
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After analyzing its own resources and unique abilities, a company is now trying to determine what group of customers it can satisfy with a good or service. It is in the process of choosing a
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target market.
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If a company develops an advertising campaign that targets a segment of consumers with a certain income and education, the company is using the following segmentation variable:
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demographic
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Which of the following can be changed quickly to stimulate demand or respond to competitors' actions?
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price
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Distribution is sometimes referred to as
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place
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Which of the following is not an influence on the marketing environment?
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Manufacturing forces
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During which stage does the firm gear up for full-scale production, distribution, and promotions?
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Commercialization
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Magazines located next to the checker counter at a grocery store would probably be classified as
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convenience products
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products such as furniture, audio, equip, bicycles, and everything generally classified as
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Shopping products
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industrial products such as lumber, cotton, and iron are classified as?
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raw materials
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if a product is experiencing negative profits and the company is spending a great deal of money on advertising to make consumers aware of the product, the product is most likely in the following life cycle stage?
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Introduction
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A products profits peak and start to decline during which of the life cycle stages?
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Growth
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Diet Coke is
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Brand Name
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_____encourages consumers to make purchase based on emotion, rather than rational consideration about the price.
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Psychological pricing
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The financial value placed on an object involved is an exchange is?
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The Price
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When a computer company initially charged a low price for a new computer and then raised gaining a large market share, it was using which pricing strategy?
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Penetration
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Conducting___means carrying out the goals of business through the use of the internet?
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e-business
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The ability of a business to identify customers before they make a purchase is?
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Addressability
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which of the following industries is not listed in your text as one that has been significantly impacted by the internet?
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Small-Scale organic farming
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In 2009 the average U.S. adult spent___hour(s) a day on social networking sites and surfing the internet.
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6
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one aspect of marketing that has not changed with digital media is the importance of achieving the right?
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marketing mix
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The Internet is a new____For marketing products available at the right time, at the right place, and in the right quantities
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distribution channel
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___are audio or video files that can be downloaded from the Internet via a subscription that automatically delivers new content to listening devices or personal computers.
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Pod Casts
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____is the most popular online social networking site in the world.
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Facebook
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Marketing over devices has been made possible largely by___, Which allow(s) users to perform a variety of functions, from playing games to comparing product prices from different stories.
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apps
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What is the number-0ne consumer complaint to government agencies, when it comes to the internet?
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fraud
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