Question 1

Nurturing customer loyalty by gathering knowledge of customer needs and preferences is an approach known as _____.

Accepted Answer

A)  relationship management 
B)  transaction management 
C)  financial management 
D)  marketing management 
A)  relationship management 
B)  transaction management 
C)  financial management 
D)  marketing management

Question 2

Evlis uses a weblog to sell his products. His blog has generated massive sales for his products. His capital expenditure was the lowest in comparison to most of the other online firms. Which of the following eras is he most likely to be originating from?

Accepted Answer

A)  Production era 
B)  Social era 
C)  Industrial era 
D)  Marketing era 
A)  Production era 
B)  Social era 
C)  Industrial era 
D)  Marketing era

Question 3

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

Accepted Answer

A)  increased job security 
B)  sharing of financial information with employees 
C)  increased emphasis on listening to and respecting employees 
D)  helping employees improve skills and knowledge 
A)  increased job security 
B)  sharing of financial information with employees 
C)  increased emphasis on listening to and respecting employees 
D)  helping employees improve skills and knowledge

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Inventors such as Robert McCormick and Eli Whitney were part of the _____.

Accepted Answer

A)  marketing era 
B)  colonial era 
C)  marketing era. 
D)  age of industrial entrepreneurs 
A)  marketing era 
B)  colonial era 
C)  marketing era. 
D)  age of industrial entrepreneurs

Question 6

MATCHING
Complete the following using these terms.
-_____ involves blending individuals of different genders, ethnic backgrounds, cultures, religions, ages, and physical and mental abilities in order to enhance a firm's chances of success.

Accepted Answer

A) outsourcing 
B) Diversity 
C) entrepreneur 
D) Competitive differentiation 
E) strategic alliance
F)Capital
G)vision
H)factors of production
I)brand
J)Relationship management
K)Not-for-profit organizations
L)Business ethics 
A) outsourcing 
B) Diversity 
C) entrepreneur 
D) Competitive differentiation 
E) strategic alliance
F)Capital
G)vision
H)factors of production
I)brand
J)Relationship management
K)Not-for-profit organizations
L)Business ethics

Question 7

The concept of branding first emerged during the _____.

Accepted Answer

A)  production era 
B)  relationship era 
C)  age of the industrial entrepreneur 
D)  marketing era 
A)  production era 
B)  relationship era 
C)  age of the industrial entrepreneur 
D)  marketing era

Question 8

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

Accepted Answer

A)  enacting upon its social responsibility 
B)  following its business ethics 
C)  working towards social welfare 
D)  using creativity to encourage team spirit 
A)  enacting upon its social responsibility 
B)  following its business ethics 
C)  working towards social welfare 
D)  using creativity to encourage team spirit

Question 9

Capitalism is founded on _____.

Accepted Answer

A)  the social changes that followed the Industrial Revolution 
B)  the idea that 80 percent of a nation's wealth should be owned by no more than 20 percent of its people 
C)  the principles of a private enterprise system 
D)  the idea that government must own all factors of production 
A)  the social changes that followed the Industrial Revolution 
B)  the idea that 80 percent of a nation's wealth should be owned by no more than 20 percent of its people 
C)  the principles of a private enterprise system 
D)  the idea that government must own all factors of production

Question 10

All of the following are rights granted to citizens and to the government in a private enterprise system EXCEPT the right to _____.

Accepted Answer

A)  fair competition 
B)  permit price discrimination 
C)  select from among a variety of goods and services 
D)  own property 
A)  fair competition 
B)  permit price discrimination 
C)  select from among a variety of goods and services 
D)  own property

Question 11

When Google opened offices in Tokyo, London, and Sydney, it was utilizing _____ by relocating business activities to lower-cost locations overseas.

Accepted Answer

A)  nearshoring 
B)  cybersquatting 
C)  offshoring 
D)  employee sourcing 
A)  nearshoring 
B)  cybersquatting 
C)  offshoring 
D)  employee sourcing

Question 12

Technology has revolutionized business communications.

Accepted Answer

A) True 
 B)False

Question 13

The right to private property is considered the most basic right in the private enterprise system.

Accepted Answer

A) True 
 B)False

Question 14

Adam Smith's "invisible hand" refers to the battle among businesses for consumer acceptance.

Accepted Answer

A) True 
 B)False

Question 15

Diverse employee teams tend to perform _____ and develop _____ than do homogeneous employee groups.

Accepted Answer

A)  less effectively; better solutions 
B)  more effectively; better solutions 
C)  less effectively; worse solutions 
D)  more effectively; worse solutions 
A)  less effectively; better solutions 
B)  more effectively; better solutions 
C)  less effectively; worse solutions 
D)  more effectively; worse solutions

Question 16

_____ is the ability to perceive marketplace needs and what an organization must do to satisfy these needs.

Accepted Answer

A)  Critical thinking 
B)  Social responsibility 
C)  Vision 
D)  Creativity 
A)  Critical thinking 
B)  Social responsibility 
C)  Vision 
D)  Creativity

Question 17

When a U.S. company contracts work to a company inMexico, it is _____.

Accepted Answer

A)  nearshoring 
B)  nearsourcing 
C)  exporting 
D)  offshoring 
A)  nearshoring 
B)  nearsourcing 
C)  exporting 
D)  offshoring

Question 18

Which of the following statements is true about the private enterprise system? _____.

Accepted Answer

A)  private property 
B)  credit 
C)  profit 
D)  freedom of choice 
A)  private property 
B)  credit 
C)  profit 
D)  freedom of choice

Question 19

Explain the business approach used in the relationship era.

Accepted Answer

In the relationship era, businesses are

Question 20

The managerial quality of vision is the ability to perceive marketplace needs and what an organization must do to satisfy them.

Accepted Answer

A) True 
 B)False

Nurturing customer loyalty by gathering knowledge of customer needs and preferences is an approach known as _____.

Evlis uses a weblog to sell his products. His blog has generated massive sales for his products. His capital expenditure was the lowest in comparison to most of the other online firms. Which of the following eras is he most likely to be originating from?

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

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

Inventors such as Robert McCormick and Eli Whitney were part of the _____.

MATCHING Complete the following using these terms. -_____ involves blending individuals of different genders, ethnic backgrounds, cultures, religions, ages, and physical and mental abilities in order to enhance a firm's chances of success.

The concept of branding first emerged during the _____.

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

Capitalism is founded on _____.

All of the following are rights granted to citizens and to the government in a private enterprise system EXCEPT the right to _____.

When Google opened offices in Tokyo, London, and Sydney, it was utilizing _____ by relocating business activities to lower-cost locations overseas.

Technology has revolutionized business communications.

The right to private property is considered the most basic right in the private enterprise system.

Adam Smith's "invisible hand" refers to the battle among businesses for consumer acceptance.

Diverse employee teams tend to perform _ and develop _ than do homogeneous employee groups.

_____ is the ability to perceive marketplace needs and what an organization must do to satisfy these needs.

When a U.S. company contracts work to a company inMexico, it is _____.

Which of the following statements is true about the private enterprise system? _____.

Explain the business approach used in the relationship era.

The managerial quality of vision is the ability to perceive marketplace needs and what an organization must do to satisfy them.

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Starting Your Own Business: the Entrepreneurship Alternative

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Exam 1: The Changing Face of Business

Nurturing customer loyalty by gathering knowledge of customer needs and preferences is an approach known as _____.

Evlis uses a weblog to sell his products. His blog has generated massive sales for his products. His capital expenditure was the lowest in comparison to most of the other online firms. Which of the following eras is he most likely to be originating from?

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

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

Inventors such as Robert McCormick and Eli Whitney were part of the _____.

MATCHING Complete the following using these terms. -_____ involves blending individuals of different genders, ethnic backgrounds, cultures, religions, ages, and physical and mental abilities in order to enhance a firm's chances of success.

The concept of branding first emerged during the _____.

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

Capitalism is founded on _____.

All of the following are rights granted to citizens and to the government in a private enterprise system EXCEPT the right to _____.

When Google opened offices in Tokyo, London, and Sydney, it was utilizing _____ by relocating business activities to lower-cost locations overseas.

Technology has revolutionized business communications.

The right to private property is considered the most basic right in the private enterprise system.

Adam Smith's "invisible hand" refers to the battle among businesses for consumer acceptance.

Diverse employee teams tend to perform _____ and develop _____ than do homogeneous employee groups.

_____ is the ability to perceive marketplace needs and what an organization must do to satisfy these needs.

When a U.S. company contracts work to a company inMexico, it is _____.

Which of the following statements is true about the private enterprise system? _____.

Explain the business approach used in the relationship era.

The managerial quality of vision is the ability to perceive marketplace needs and what an organization must do to satisfy them.

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Starting Your Own Business: the Entrepreneurship Alternative

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Diverse employee teams tend to perform _ and develop _ than do homogeneous employee groups.