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Management is a process designed to achieve an organization's objectives by using its resources effectively and efficiently in a changing environment.
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true
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top managers focus on strategic decisions to use resources to take advantage of opportunities
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true
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are typical resource that must be acquired by each organization in the pursuit of its objectives except
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-people, raw materials and equipment, money, information (not Laws and regulations)
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the development of a performance-appraisal system is primarily the concern of
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human resource management
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having analytical skills means that a manager is able to do all of the following except
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think in abstract terms
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an organization's structure develops as managers assign tasks to work groups and specific individuals and coordinate the diver activities required to attain organizational objective
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true
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all groups are teams, but not all teams are groups
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false
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which is not a means of formally expressing an organization's culture
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employee dress codes
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when the decision of company are very risky and low-level managers lack decision-making skills, the company will tend to
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centralize
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teams
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share leadership and create collective work products
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which of the following is an informal communication channel
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the grapevine
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if an employee is involved with transforming resource into goods and services then he is
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operation management
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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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Marketing creates value by allowing individuals and organizations to obtain what they want and need.
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true
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Marketing is not manipulating customers into buying things they do not really want, it is.........
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a systematic approach to satisfying customers
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Acme Inc. is surveying customers as to what kinds of services they would like the company to add. It is involved in the marketing function of
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marketing research
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A marketing strategy is a plan of action for developing, pricing, distributing, and promoting products that meet the needs of specific customers.
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truq
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Secondary data are information observed and recorded or collected regularly from sources inside and outside the organization.
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false
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When a computer company initially charged a low price for a new computer and then raised the price after gaining a large market share, it was using which pricing strategy?
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penetration
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If a company's goal is to develop an image of having very high-quality luxury products, it should employ a
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prestige pricing strategy
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A marketing channel includes all of the following except
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secondary stakeholders
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Advertising is direct, two-way communication with buyers and potential buyers.
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false
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A marketing channel is a group of marketing organizations that move products from producers to consumers.
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true
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The role of promotion is to communicate with individuals, groups, or organizations to facilitate an exchange directly or indirectly.
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true
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The characteristic of addressability means digital communication allows consumers to find information about competing products, prices, and reviews and become more informed about a firm and the relative value of its products.
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false
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Conducting _____ means carrying out the goals of business through the use of the Internet.
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e-busines
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___________ means digital communications allow consumers to find information about competing products, prices, and reviews and become more informed about a firm and the relative value of its products.
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accessibility
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Which of the following is a downside to digital media?
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Employees waste time at work on social networking sites and downloading music X
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Accounting is the recording, measurement, and interpretation of financial information.
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true
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Only businesses use accounting information to demonstrate how their funds are being used.
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false
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All of the following represent assets except
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a bank loan
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All business transactions can be classified as assets, liabilities, or owner's equity.
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true
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The accounting cycle collects, records, and analyzes raw data constantly through the business's life cycle.
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true
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Money has all the following characteristics except
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intangibility
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When inflation is very high, money is no longer a __________________ means of exchange.
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stable
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Rapid advances and technological innovations are requiring the banking industry to change.
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true
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Certificates of deposit are accounts with funds that usually cannot be withdrawn without advance notice and/or have limits on the number of withdrawals per period.
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false
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Another name for a checking account is a
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demand deposit
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Plants, offices, and equipment are considered
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long-term assets
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Two common means of financing with long-term liabilities are: equity financing and debt financing.
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true
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The par value is the interest rate on a bond.
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false
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Because having idle cash on hand is undesirable, a manager may choose to invest in
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marketable securities
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All of the following are ways to invest idle cash for the short term except
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unsecured loans
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What was the one tool that Ms. Carson mentioned was one of her greatest tools when launching a project, confirming a target market, starting a new web or social media ad campaign and any number of other uses?
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google analytics
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As an artist, Ms. Zonn felt that pandora and spotify were advocates for artists being paid a fair wage for the airtime given to them?
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false
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In the music industry, what did our guest feel like would be extinct in approximately the next five years?
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record labels
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If you need to increase a Property account, you would write a journal entry with a _____________ to that account.
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debit
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Which of the following financial statements best represents the accounting equation?
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balance sheet
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From a personal finance point of view, it is a good idea to never spend more than you make.
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true
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a business is individual or organization who try to earn a profit by satisfying people's needs
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true
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which of the following is an example of nonprofit
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special olympics
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which economic system can be described as the government owns and operates major industries while individuals own small businesses
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socialism
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the price at which the number of products that businesses are willing to supply equals the amount of products that consumers are willing to buy at a specific points is
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equilibrium price
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taking someone else's work and persecuting it as your own without mentioning the source is know as
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plagiarism
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_________occurs when an employee exposes an employer's wrongdoing to outsiders, such as the media or government regulatory agencies
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whistle blowing
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an _______ is an identifiable problem, situation, or opportunity that requires a person to choose from among several actions that may be evaluated as right or wrong. ethical or unethical
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ethical issue
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one argument against social responsibility is that sone people question whether business has the expertise needed to assess and make decision about social problems.
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true
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an import lesson from emperor's club "you don't have to be an active participant to be unethical. example of is...
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Mr. Hundert's tuning blind eye to Sedgewick Bell's veb.
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The emperor's club, a lesson could early be learned that "the past is the best predictor of the future" when watching Sedgewicks behavior
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true
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It is likely Sedgewick's turing point to begin taking work seriously was Mr. Hubert's belief in him; turning back was when Mr. Hubert did not epos him
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true
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Smart
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-specific, measurable, attainable, relevant, timely
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shortest path to failure in business is
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undercapitalization
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All partners are responsible for the business actions of other
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true
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A corporation may only be publically owned
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false
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A______ has act least one general partnership with assumes unlimital liability, and at least one united partner whose liability is united to his/her business
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limited partinership
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A general business involves a complete charing in the management of a business
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true
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Sole proprietorships have the least freedom from government reglulalion
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false
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multinational strategy is a strategy that involve standardizing products for the whole world like a single entity
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false
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least amount of foreign investment
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exporting
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in tennessee, non-profit board of directors have a legal usability for decision made by employees and operations of the non-profit
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true
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when a non-profit dissolve its business, profit must be
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rolled into another non-profit
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executive summary is
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both cover letter for business plan, 1st thing investors will read
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primary problem with trade deficit
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country exports more than imports
