Exam 1: The Changing Face of Business

At the heart of every business endeavor is what?

Explain the difference between transaction management and business practices of the relationship era.

This process includes activities such as looking beneath the surface for deeper meaning and connections that can help identify crucial issues and solutions.

For today's managers,which of the following is LEAST important?

A company that values employees as sources of ideas and innovation is utilizing its _________________.

Describe offshoring and related trends.

A key element of the production era was the use of consumer research.

Donovan Corporation's sources of capital can include all of the following EXCEPT ________.

Entrepreneurs are very conservative and usually invest only in sure winners.

Which of the following is NOTan example of an internal force that requires organizational change?

All factors of production are found in equal amounts in all businesses.

It is predicted that technology will completely eliminate all cubicle jobs.

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

The factors of production in an economic system are ________.

The right to profit means the ________.

Outsourcing is the use of outside vendors to produce goods or fulfill services and functions that were previously handled in-house or in-country.

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

Timber Trails,a Northwest lumber company,utilizes ________ as its primary production factor.

Persons of Hispanic and Asian descent represent the fastest growing segments of the U.S.population.

All are advantages of the relationship era practices EXCEPT: