Flashcards on Test on Chapter 2 Quiz

In less complex organizations that have a single business focus, such as Ben & Jerry's, which two strategic levels may merge? corporate and strategic business unit functional and corporate functional and industry business and nonprofit business and corporate

Comparing the results of the marketing program with the goals in the written plans to identify and act on deviations occurs during the: goal-setting phase. evaluation phase. planning phase. analysis phase. implementation phase.

Business firms pursue several different types of goals such as profit, sales, market share, quality, customer satisfaction, employee welfare, and social responsibility. Which of these statements is most accurate? -Only nonprofit organizations have the luxury of selecting social responsibility and employee welfare as goals. - Customer satisfaction goals are known to increase costs and reduce profits. -Selecting a market share goal is only meaningful if you first make profit a goal. - A business firm should select only one business goal so it can maintain focus. -If profits are acceptable, a company may elect to maintain or increase its sales even though profits may not be maximized.

A(n) __________ may have operational efficiency or client satisfaction as its primary organizational goal, but it still must receive sufficient funds to cover its operating expenses. board of directors nonprofit organization offering industry business firm.