Exam 1: The Changing Face of Business

_______ represents a natural force that guides free market capitalism.

During the next few years,the average age of the workforce is expected to decrease.

Capital usually includes entrepreneurs and human resources.

Given that not-for-profit organizations still focus on and make profits,they are commonly required to pay federal,state,and local taxes.

The economist Adam Smith was the first person to describe _____ in his book The Wealth of Nations.

Feedback from customers is an example of an internal force that would require change.

Feedback from customers is an example of a(n)_____ that requires organizational change.

Transaction management best describes the current philosophy among managers today.

When a U.S.company contracts work to a company in Mexico,it is _____.

For successful companies,which of the following statements is true?

The main characteristic of ______ era was benefits derived from deep,ongoing links with individual customers,employees,suppliers,and other businesses.

The economic focus,in colonial society,was centered on _____.

The labor of a firm refers to _____.

Which of the following describes a for-profit system established,owned,and operated by individuals?

Which of these are essential because it serves as a primary incentive for people to start companies,expand them,and provide consistently high-quality competitive goods and services?

The managerial quality of vision is the ability to perceive marketplace needs and what an organization must do to satisfy them.

Mental exercises like brainstorming often foster creativity.

Fabian uses a weblog to sell his products.His blog has generated massive sales for his products.His capital expenditure was the lowest in comparison to most of the other online firms.Which of the following eras is he most likely to be originating from?

Which of these refers to the collection of activities that build and maintain ongoing,mutually beneficial ties with customers and other parties?

The private enterprise system is enhanced by maximized government participation.