Exam 1: The Dynamic Business Environment

Shelley recently opened a new restaurant specializing in fast foods prepared with less fat and calories for health-conscious diners who are in a hurry.Shelley knows that there are some risks associated with opening and managing a restaurant,but she is confident that she can earn a profit.Shelley is an example of a(n):

Kisa is a production manager at Western Widgets,Inc. ,a manufacturing corporation that sells its products worldwide.Thanks in part to Kisa's efforts,Western Widgets has dramatically improved the quality of its products.Kisa believes that the high quality of its output will give Western Widgets a competitive edge.Kisa's view is:

The book Boom Bust & Echo economist David Foot suggests that________ explains about two-thirds of everything,including what products will be in demand in five years.

The chance of loss is known as _________.

To be successful in today's markets,businesses must:

Climate change is not important to the international business community.

Unlike businesses,employees of non-profit organizations are not required to learn the business skills of accounting,marketing,or financial management.

A business is any activity that provides goods and services while operating _________.

A loss occurs when a business's expenses are greater than its:

Successful businesses are keenly focused on their:

Companies have gone from outsourcing production jobs to offshoring research and development.

One of the elements of risk is the chance of a loss.

An owner who closes a business to start a new one is reported as an exit by Industry Canada.

Which of the following predictions about the impact of e-commerce on traditional businesses is likely to be most accurate?

Empowerment consists of employees from different departments within an organization formed to improve employee effectiveness.

Two important global environment changes in recent years have been the growth of global competition and the decline of free trade.

If they wish to create more wealth,poor nations should focus on policies that increase entrepreneurship and the effective use of knowledge.

Technology affects people in all industries.

A recent study indicated that outsourcing will continue to grow at 5-10% across functions such as information technology,legal services,and human resource management.

In recent years,the fastest growing firms are in the __________sector.