Exam 1: The Changing Face of Business

A manager's only obligation is to create an environment for creativity and critical thinking. The implementation of those ideas is carried out by other departments.

An accountant's view of profit is the difference between revenue and the cost incurred in generating the revenue. This view is shared by all business owners and the general public.

Restating issues in reverse, such as naming ways to lose customers, is a method of developing ______.

During the next few years, the average age of the workforce is expected to increase.

The retirement of baby boomers CANNOT create a shortage in the Canadian workforce since students are graduating each year.

Relationship management concentrates on short-term interactions with customers.

Finding unique ways to use the factors of production is a common characteristic of most entrepreneurs.

Just as with a for-profit business, the first priority for a not-for-profit organization is making a profit.

The number of companies forming partnerships and strategic alliances has declined in recent years.

Explain how business ethics differs from social responsibility.

Entrepreneurship is synonymous with "risk-taking."

What makes a company admired?

In colonial society, real economic and political power was centred in ______.

Alejandro is seeking to revitalize his graphic design company with new innovations and has called a brainstorming meeting with his top designers. Alejandro is practising ______.

Blogs and social networking use ______ to manage relationships.

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

Explain the difference between transaction management and relationship management.

The new employer-employee relationship requires firms to establish rigid rules to govern employee activities.

For businesses to behave ethically and responsibly, their employees need

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