Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment

Starting a business always involves ________.

Sue is a single mother with two small children. Her employer is considering providing family leave. Since Sue is a single mom with small children, she is unlikely to benefit from this program.

Companies have responded to a diverse customer base by hiring a more diverse workforce.

The only real purpose of a business is to make money for entrepreneurs.

A policy of empowerment encourages managers to make decisions quickly for their front line employees.

The number of businesses owned by Asians, Hispanics, and Native Americans has grown dramatically.

Information in a database allows firms to carry only the products that the local population wants.

By balancing the demands of customers and stockholders, businesses satisfy the demands of all stakeholders.

High tax rates tend to:

A charitable organization, such as the American Red Cross or Salvation Army, is classified as a for-profit organization.

Wars are costly to all companies.

Social entrepreneurs are people who start and manage organizations that are not-for-profit. Their mission is to help others improve their quality of life.

As emerging technologies become widespread, businesses tend to find better uses for them. However, in the case of the Internet, businesses that sell B2B have not benefited from directly selling to their business customers in the same way that B2C companies have done.

The knowledge and skills learned in business courses are seldom relevant to students who work for nonprofit organizations or volunteer groups.

___________ refers to the amount of output generated with a given amount of input, e.g., the number of pizzas produced per worker per hour.

Ntercon is an Internet-based company that provides online support services for businesses that need help in setting up and maintaining their websites. Ntercon is an example of a company that is engaged in:

One of the major advantages to firms involved in e-commerce is that the technology is still so new that the Internet-based firms face very little competition.

Which of the following organizations is an example of the goods-producing sector of the economy?

Which of the following statements best describes how firms must treat their front-line workers in order to remain competitive? Front-line workers must be ____________.

Business decisions should consider the interests of customers, employees, suppliers, government leaders, and stockholders.