Exam 1: Developing a Business Mindset

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________ audit the financial reports of public companies as required by law.

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Etiquette is the quality of performing your job to the best of your ability and conducting yourself with purpose and pride.

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If individuals and companies believe they can pursue rewards without facing the risks that should be attached to those pursuits,they are more likely to engage in irresponsible and even unethical behavior.This situation is known as a(n)________.

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Compare and contrast the perspective of a business professional with that of a consumer.

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Chicago Cinema Museum houses a unique collection of artifacts,memorabilia,and equipment that preserves the history and grandeur of cinema.It is funded by the government of the United States.The museum administrators apply many of the business-management principles to operate efficiently and effectively.The museum is most likely to be a ________.

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R&D fuels new ideas and designs for the company's products and services that allow it to meet customer needs in competitive markets.

(True/False)
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________ refers to a company's target customers,the buying influences that shape the behavior of those customers,and competitors that market similar products to those customers.

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Describe the six major functional areas in a business enterprise.

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Assets refer to the tangible economic resources owned by a firm.

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________ refers to forces resulting from the practical application of science to innovations,products,and processes.

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Discuss the positive and negative role of business in society.

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A U.S.multinational retailer corporation wants to set up a chain of large discount department stores in a developing nation.However,it is hindered by strict licensing procedures and bureaucratic delays in obtaining government approvals.In this example,the multinational corporation faces ________.

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The expected norms of behavior in a particular situation are referred to as ________.

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Which of the following is an example of bad etiquette?

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All internal and external groups affected by a company's activities are referred to as its ________.

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