Intro to Business Final Exam Chapters 8-15 – Flashcards

As a scheduler, Wanda is concerned with the sequence of workstations that the materials will follow. This sequencing is called

Billy is in charge of obtaining the flour, sugar, and other ingredients needed for her employer, Baker's Café. Billy is in charge of

Generally, a planning horizon lasts for one

Productivity is the

Because customer preferences must be considered, ____ play an important role in product-line decisions.

Kraft combines elbow macaroni, cheese, and cardboard to make packages of Kraft Macaroni and Cheese. This most closely resembles a(n) ____ process.

Products that have been partially completed but require further processing are known as ____ inventory.

A situation in which machines and equipment do most of the work is known as

Companies that emphasize the importance of output inspection and quality circles are making an effort to improve

All of the activities involved in obtaining required materials, supplies, and parts from other firms are called

If a good or service satisfies a human need, it has

Arbach's responsibility is to ensure that materials used in production are at the right place at the right time. His job involves

A business will usually choose to produce a new product in an existing facility if the cost is less than the cost of building a new one and the

In deciding on a product line, managers should balance ____ and product requirements.

The American economy is now characterized as a(n) ____ economy.

One primary difference between services and the production of goods is that services are consumed ____ whereas goods can be ____.

All of the managerial activities in which managers engage for the purpose of creating goods and services are known as ____ management.

During the process of operational planning, management must compare market demand with

A computerized system that integrates production planning and inventory control is called

Ford cars and trucks are completed and ready for delivery to customers. Because of this, they are classified as

A wage is a specific amount of money paid per

Lois walked into ABC Company to pick up an application for a secretarial job. When she asked about the duties and working conditions, the busy receptionist handed her a document that gave her a clear picture of the position. The receptionist gave Lois a job

Teaching employees new jobs, skills, and more effective ways of doing their present jobs is called

Leading Lady, a manufacturer of maternity wear, maintains a database of information that records the various skills and abilities of its employees. This database can be referred to as a

Fred Saunders receives $50,000 a year as a manager. This type of compensation is called

Job evaluation is almost always the basis for developing a

Periodically, employees at Southwest Airlines complete satisfaction surveys that management uses to improve employee job satisfaction. This is an example of

The process of attracting qualified job applicants is called

Lindley Company is interested in verifying previous job responsibilities held by its applicants. The selection technique that will be most helpful in obtaining this information is the

Bob White was assigned to a senior employee responsible for instructing new computer programmers. Because of this senior employee's instruction, White gained hands-on experience under normal working conditions. Bob experienced ____ training.

Critics of comparable worth argue that

Assessing employees' performance levels to make objective personnel decisions is accomplished by

An employee's initial wage rate is determined by

A type of compensation that is some percentage of sales revenue is

Perhaps the most widely used selection technique is the

Another name for human resources management is ____ management.

Employee benefits are

People who can verify background information and provide personal evaluations of candidates are called

Peter Shelly was hurt on the job last week. His medical bills for this injury are covered under

For a cultural diversity program to be successful, it is essential that

Sears buys finished products and sells them for a profit to its customers. Sears is a part of which type of market?

The process of dividing a market into segments is called

In a marketing information system, data from internal sources include all of the following except

Markets are classified as either

Buying behavior is divided into two categories including

When Target decides the number and locations of warehouses it needs to build and operate, it is addressing the ____ element of the marketing mix.

Internal and external data should be collected for a marketing information system

Turner Broadcasting Systems uses internal Web pages that all employees can access in order to share information and improve communication. This is a(n)

The elements of the marketing mix are

Products that can be marketed successfully with the undifferentiated approach include sugar and

The two broad categories of buying behavior are ____ and ____.

Money used for entertainment comes from ____ income.

Dell Computer Corporation sells personal computers to colleges and universities, hospitals, civic clubs, charitable organizations, and foundations. This market is called a(n) ____ market.

Steve Berry recently purchased a new boat. This type of purchase would be made using Steve's ____ income.

The utility created by making a product available when customers wish to purchase it is called ____ utility.

When a company collects external marketing data, it looks at information about

The process of systematically gathering, recording, and analyzing data concerning a particular marketing problem is called

The elements of the marketing mix are combined to

Club Med Inc. talks to its present and potential customers to assess their needs for its products. Then it develops products to satisfy those needs. The firm is thus applying the ____ concept.

In a marketing information system, data from external sources include all the following except

Resources that a firm owns are called

All of the following are current assets except

For all businesses, the desired acid-test ratio is

Debts that are to be repaid in two years are referred to as

The process of systematically collecting, analyzing, and reporting financial information is called

Revenues - cost of goods sold - expenses = net income characterizes which financial statement?

All of the following are classified as fixed assets except

Salaries payable, accounts payable, and taxes payable are examples of

Another name for the statement of financial position is the

Selling expenses are considered to be a type of

Assets = liabilities + owners' equity is the equation for information reported on the

The cash at the end of the year reported on the statement of cash flows is the same as the

An audit is

After the Sarbanes-Oxley Act was signed by the president, auditors and accountants can be imprisoned for up to ____ years for destroying financial documents and willful violations of the securities laws.

A(n) ____ is a summary of a firm's revenues and expenses during a specified accounting period, such as a year.

The balance sheet is composed of

Ernst & Young, KPMG, and PricewaterhouseCoopers are all

Information that is not divulged to anyone outside the business is commonly referred to as ____ information.

If total liabilities were subtracted from total assets, the residual value would be

Debts owed by a business are called