Exam 1: Developing a Business Mindset

________ refers to some aspect of a product or company that makes it more appealing to target customers.

In a free-market economy,companies generally have limited autonomy in deciding which customers they want to focus on and how they want to compete.

Businesses that need very large amounts of money,equipment,land and other material resources in order to get started and continue to operate are ________ businesses.

Compare and contrast between capital-intensive businesses and labor-intensive businesses.

Which of the following positions would be responsible for establishing the long-term financial goals of the company,investing its funds and raising capital for the business?

________ activities are intended to identify new ideas that have the potential to result in new goods and services.

Compare and contrast the technological environment and the market environment within which a business operates?

The ________ function of an organization coordinates the incoming flow of materials and the outgoing flow of finished products.

Compare and contrast the research and development and the operations functions of a business.

True professionals avoid committing ethical lapses.

Business is any profit-seeking organization that provides goods and services designed to satisfy customers' needs.

Why are not-for-profit organizations different from most businesses? Are there any similarities between a goods-producing business and a not-for-profit organization?

________ refers to the area where the company makes whatever it makes (for goods-producing businesses)or does whatever it does (for service businesses).

The manager of a firm was accused of diverting company funds for personal use.Andrew was the person responsible for reviewing his financial activities to see if any of the finances were diverted for personal use,and to determine if he had performed any financial crime.Andrew is most likely to be a(n)________.

________ refers to a view of business that considers the many decisions that must be made and the potential problems that must be overcome before the organization can deliver its products or services.

Mark,who works for a toy manufacturing firm,is responsible for creating a branding and marketing strategy.He is most likely to be a part of the firm's operations management team.

Lisa has a small language training business.She provides French and Spanish lessons to several customers in the neighborhood.What type of business does Lisa have?

Just Bakes,a bakery outlet in Cincinnati,is famous for the uniqueness of its bakery items,such as the baguette supreme,made from mixed-flour dough.The outlet also has an online ordering system that offers original gift baskets.Most of its target customers find it to be more appealing.In this example,Just Bakes has a(n)________.

________ is the term used to describe the difference between revenue and expenses.

Which of the following activities would be a part of facilities management?