Exam 1: The Changing Face of Business

Today,workers are much less likely to remain with the same employer throughout their entire careers.

A public-sector not-for-profit organization would include which of the following?

Unfair or "cutthroat" competition,designed to eliminate competitors,is prohibited by the U.S.government.

The work-comes-first lifestyle is exemplified by:

Relationship management concentrates on short-term interactions with customers.

When 3M managers decided to manufacture Post-it notes,a new product was born.This was an example of ________ in action.

________ is 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 Industrial Revolution in England transformed America's economy by introducing ________.

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

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

All of the following are businesses EXCEPT ________.

What makes a company admired?

In consumer orientation,a company creates a product first,and then determines if the consumer will likely purchase the product.

Explain how consumers benefit from business competition.

In the context of business,define technology.

The business philosophy that advocates determining what consumers want and need,and then designing products to satisfy those needs,is known as ________.

Technology can make some products obsolete.

Outsourcing is the relocation of business activities to lower-cost locations overseas.

Which of the following BEST distinguishes the philosophy of the marketing era from the philosophy of the production era?

Companies are not required to be ethical to succeed in the long run.