Exam 1: The Changing Face of Business

Managers are beginning to recognize the different needs of workers of different ages.

Critical thinking skills and creativity are essential qualities for today's managers.

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

In his book TheWealth of Nations,the Scottish economist Adam Smith was the first person to describe ________.

Feedback from customers is an example of an internal force that would require change.

Feedback from customers is an example of a(n)________ that requires organizational change.

When management's decisions align with social and economic issues,the company is practicing ________.

Which of the following is a benefit of entrepreneurship?

The private enterprise system is also referred to as capitalism.

By supporting local charities,a firm is demonstrating social responsibility.

Which of the following statements is NOT correct?

Describe technology as a capital source.

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

All of the following statements are correct EXCEPT:

In colonial society,real economic and political power was centered in ________.

Relationship Era was defined by its increased productions of goods by faster means.

The new employer-employee partnership has led to all of the following EXCEPT ________.

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

Emily works for a pharmaceutical company and gives a presentation on the need to expand the company's geriatric division within the next ten years.Emily is helping to establish the company's ________.

MATCHING Complete the following using the terms listed. -_____ is the unique combination of organizational abilities,products,and approaches that sets a company apart from competitors in the minds of consumers.