Exam 7: Understanding the Business

Which of the following is used to predict when a company will likely experience temporary shortages or surpluses of cash?

In today's day and age, customers expect that companies not only provide value but demand that the companies be which of the following?

Which of these would provide stakeholders with information about how a company obtained and used cash in the most recent accounting period, as well as its cash balance at the end of the accounting period?

In measuring, if a company has met customer needs through gap analysis, what is the first step?

A set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition is referred to as competitive advantage.

Monica has just been hired by the Misty Mount Corporation to take over as the new chief executive officer. Her initial impression is that the company is in disarray, primarily because the employees do not have a sense of purpose or a common set of values. Monica's observations suggest that she needs to provide which of the following for Misty Mount?

Which of the following is a critical success factor for any business?

"To enrich the lives of everyone in WestJet's world by providing safe, friendly, affordable air travel" is best described as which of the following?

What is a vision for a company?

What is Starbucks' sustainable competitive advantage?

What should a company do to build customer loyalty?

Issues such as fair trade and child labour are important issues for Canadians. Violating any values that we as a society appreciate can have a negative impact on a company.

Which of the following are affected by the decisions a business makes and therefore the business has a responsibility to consider them in those decisions?

What does providing value mean for a business?

Which issues are important to Canadians when it comes to doing business internationally?

In a SWOT analysis the strengths and weaknesses come from the internal environment (e.g., financial, operations, marketing, and human resources).

Describe the purpose of an income statement.

A large sector of the Canadian economic activity is in the commodity industries, and often having a positive impact on the environment by extracting, refining, and transporting these commodities.

Which of the following is the income statement equation?

George has just graduated from college and has got his first full-time job. He needs a car to drive to his new job as it is not accessible by public transit. He still has student debt so he doesn't have a lot of money to spend, but wants something that is reliable. What is it that George is looking for in his purchase?