Exam 1: The Changing Face of Business

The need to develop environmentally friendly products and processes is becoming a major new force in business today.

Technology,tools,information,and physical facilities for the operation of a business are examples of _____.

What is outsourcing? Explain the utility of outsourcing in the United States.

In order to remain viable,not-for-profit organizations need to focus on profits even more than the public service they provide.

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

What did Nordstrom do differently to achieve a considerable increase in its annual sales?

The Industrial Revolution in England transformed America's economy by introducing _____.

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

Accountants think of profits as:

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

Which of the following statements is NOT true regarding businesses?

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

Briefly describe the Industrial Revolution and its contribution to the evolution of business.

When farmers rent land in order to increase crop production,they are acquiring capital.

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

In the U.S.economy,_____ are considered the reward for the risk of entering a business.

The right to profit means that the _____.

Explain how business ethics differs from social responsibility.

Competitive differentiation is discouraged for a business to be successful.

Describe how the aging populations in the United States and abroad directly affect changes in the workforce.