Question 1

Microsoft is hoping to head off a new threat from Google's Documents and Spreadsheets, a set of free Web based software tools that Google hopes also to make available offline. That capability would make Google's office productivity programs a direct challenge to Microsoft's Word and Excel programs, for which users usually pay hundreds of dollars. This is an example of

Accepted Answer

A)  Competitive differentiation. 
B)  Strategic alliance. 
C)  Relationship marketing. 
D)  The European factor. A

Question 2

The ability to analyze and assess information to pinpoint problems or opportunities is called:

Accepted Answer

A)  Creativity 
B)  Original thinking 
C)  Critical thinking 
D)  Business analysis C

Question 3

A partnership formed to create a competitive advantage for the business involved is an example of

Accepted Answer

A)  Branding 
B)  A strategic alliance 
C)  Relationship management 
D)  Co-marketing B

Question 4

Consumer Orientation was developed during which era?

Accepted Answer

A)  Production era 
B)  Marketing era 
C)  Relationship era 
D)  Colonial period

Question 5

Technology, tools, information, and physical facilities are all examples of:

Accepted Answer

A)  Natural resources 
B)  Capitalism 
C)  Capital 
D)  Entrepreneurship

Question 6

Which one of the following statements concerning not-for-profit organizations is incorrect?

Accepted Answer

A)  They operate only in the public sector 
B)  They have primary goals other than returning profits to their owners 
C)  They place public service above profits 
D)  They operate to achieve social goals

Question 7

For capitalism to operate effectively, the citizens of a private enterprise economy must have certain rights. Which of the following would NOT be considered part of the Private Enterprise System?

Accepted Answer

A)  Private property 
B)  Profits 
C)  The Age of Industrial Entrepreneurs 
D)  Competition

Question 8

When managers think about a process of deciding what consumers want and need first, and then design products to meet those needs, they are developing:

Accepted Answer

A)  A customer orientation 
B)  Transaction management 
C)  Relationship management 
D)  A brand

Question 9

Which one of the following is not a factor of production?

Accepted Answer

A)  Natural resources 
B)  Capital 
C)  Human resources 
D)  Profit

Question 10

The Internet has made possible another business tool for staffing flexibility: __________, or using outside vendors to produce goods or fulfill services and functions that were previously handled in-house or in-country.

Accepted Answer

A)  Outsourcing 
B)  Offshoring 
C)  Nearshored 
D)  Partnered

Question 11

Factors that require organizational change can come from both external and internal sources. Which one of the following is an INTERNAL source?

Accepted Answer

A)  Feedback from customers 
B)  Economic trends 
C)  New technologies 
D)  Labour union demands

Question 12

The collection of activities that build and maintain ongoing, mutually beneficial ties with customers is referred to as:

Accepted Answer

A)  Strategic alliances 
B)  Relationship management 
C)  Transaction management 
D)  Branding

Question 13

People in the workforce born from 1965 to 1981 are referred to as:

Accepted Answer

A)  Baby boomers 
B)  Generation X 
C)  Generation Y 
D)  Generation Z

Question 14

__________ refers to the standards of conduct and moral values involving decisions made in the work environment.

Accepted Answer

A)  Social responsibility 
B)  Personal beliefs 
C)  Company rules 
D)  Business ethics

Question 15

The greatest source of Canadian immigration is from:

Accepted Answer

A)  India 
B)  United Kingdom 
C)  China 
D)  Philippines

Exam 1: The Changing Face of Business