Exam 1: The Changing Face of Business

Transaction management was introduced during the era of Industrial Revolution.

The social era is based on the premise that organizations create value through connections with groups or networks of people with similar goals and interests.

When Microsoft opened offices in Tokyo,London,and Sydney,it was utilizing _____ by relocating business activities to lower-cost locations overseas.

Apple Series 4 watches sold on Amazon's Web site signify the formation of a _____ to increase profits.

Conchita recently sold her Ford Taurus to a personal friend.Conchita's sale of her automobile illustrates the right to _____.

The Industrial Revolution introduced a strong emphasis on the factory system.

Which is the ability to perceive marketplace needs and what an organization must do to satisfy these needs?

The supply for jobs is slowly becoming greater than the demand for workers.

When a business employs an outside company to handle all customer correspondence and phone calls,the business is _____ its customer service department.

Which of the following is considered to be the most fundamental right of the private enterprise system?

According to research,work teams consisting of a diverse group of individuals often are less productive than less diverse work teams.

Outsourcing is the use of outside vendors to produce goods or fulfill services and functions that were previously handled in-house or in-country.

Which of the following represent corresponding factor payments for labor and capital?

Which of the following is a management challenge associated with broad age diversity?

Delco Corp.a multinational corporation located in Chicago is planning to relocate its operations in India.The firm has identified that the labor cost and technology available in India would ensure optimum performance of its business operations.Which of the following strategies has Delco Corp.adopted?

In the private enterprise system,the right to private property is considered the most basic right.

Which of these refers to standards of conduct and moral values of a firm?

When management adheres to a set of standards involving the right and wrong actions arising in the work environment,the management is _____.

The American Industrial Revolution did not make real progress until _____.

A key element of the age of industrial entrepreneurs was the use of consumer research.