Exam 1: The Changing Face of Business

Explain how ebusiness has created a new type of strategic alliance among companies.

What kind of action should the management of a firm take in order to nurture new ideas from employees and allow them to find solutions to work-related problems?

Outsourcing ______.

Younger workers of today's generation do NOT have the 'work-comes-first' attitude of the baby boomer generation. What that this mean?

The use of assembly lines became popular during the colonial era.

Steve Jobs is a business leader who was able to anticipate what customers are looking for, and led his company to create products that meet those needs. This is an example of _____.

Timber Trails, a northwest lumber company, utilizes ______ as its primary production factor.

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 ______.

Explain the new employer-employee relationship in business.

Define profit. Explain why you agree or disagree with the following statement: "The success of a business is measured only by the profit it earns."

______ is essential because it serves as a primary incentive for people to start companies, expand them, and provide consistently high-quality competitive goods and services.

Describe the difference between outsourcing, offshoring, and nearshoring.

When Google opened offices in Tokyo, London, and Sydney, they were utilizing ______ by relocating business activities to lower-cost locations overseas.

When customers enter a supermarket and select their favourite brand of laundry detergent, they are exercising their right to freedom of choice.

Technology can make some products obsolete.

Which of the following are organized for-profit and provide goods and services?

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

Creativity is the capacity to develop well-tested solutions to common organizational problems.

Explain three ways through which an organization could solicit ideas from its workforce. Why is it important to solicit such ideas from employees?

The American Industrial Revolution did NOT make real progress until ______.