Business Foundations Final

If an employee is involved with transforming resources into goods and services, then he is in
operations management
Viewed from the perspective of operations, the money used to purchase a carpenter’s tools and the electricity used to run his power saw are
inputs
From an operations perspective, food sold at a restaurant and services provided by a plumbing company are
outputs
Operations management has the primary responsibility for
creating products that satisfy customers.
The nature of the service provider’s product requires
a higher degree of customer contact.
A primary reason for using standardization is to
reduce production costs
Which of the following activities is not included in supply chain management?
Researching and developing products
All activities involved in obtaining and managing raw materials and component parts, managing finished products, packaging them, and getting them to customers are part of
supply chain management.
Within organizations, purchasing is also referred to as
procurement.
The term used to refer to the raw materials, components, completed or partially completed products, and pieces of equipment a firm uses is
inventory.
Many companies have improved compensation and benefits packages as a means of increasing employee
morale
An inner drive that directs behavior toward objectives is called
motivation.
Poor morale is likely to cause
absenteesim and high turnover.
Frederick Taylor and other early twentieth-century management theorists believed which of the following would motivate employees to work hard?
Satisfactory pay
Prior to the Hawthorne Studies, management theorists believed that the primary motivators of employees were job security and
money.
In the United States, workers’ _____________________ needs, as defined by Maslow, have largely been met by minimum-wage laws and federal occupational safety standards.
physiological and security
Theories X and Y are most closely associated with
Douglas McGregor
Jane learned that, although she and June were both hired as part-time salesclerks at the same time and have similar backgrounds, June is paid $1 more per hour. Jane decided to stop cleaning dressing rooms on her shift because she thinks this is unfair. This is an example of which theory?
Equity theory
TNT Incorporated recently implemented a participative management program in which it gave teams of workers more control and authority over their jobs. It is using which of the following job designs?
Job enrichment
A work system that allows employees to choose their starting and ending times as long as they are at work during a specified core period is called
flextime
In some companies, the department that handles the human resources management function is called by this name:
personnel management
All of the following are activities performed by human resources managers except
selling
Determining, through observation and study, the specific tasks that comprise a job and the knowledge, skills, and abilities necessary to perform it is called
job analysis.
The document that contains an overview of a job’s title, tasks, relationships with other jobs, physical and mental skills required, duties and responsibilities is referred to as a job
description.
All of the following would be external sources for recruiting except
company websites
Professionals who specialize in luring qualified people away from other companies are known as
headhunters.
When Sandy Smith moved to a new job that involved more responsibility and an increase in compensation, she received a
promotion.
All of the following would likely be requested on an employment application form except
religion
Socorro was terminated from her job by her employer because she was repeatedly late to work; she
was fired.
If a government agency paid its workers additional compensation at the end of the year as a thank-you for good work, this would most likely be called
a bonus.
Marketing creates value by
helping people obtain what they need and want.
When a customer hands the cashier $1 and receives a loaf of bread, which of the following has occurred?
Exchange
Richard has acquired a supply of canned fruits and vegetables. He does not yet have a buyer for them but he’s using promotion and other activities to find a buyer. He is performing the marketing function of
selling.
To effectively implement the marketing concept, an organization must
balance meeting its own objectives and satisfying customer needs
In the 21st century, __________________ remains an essential element of any marketing strategy to develop and manage long-term customer relationships.
Communication
After analyzing its own resources and unique abilities, a company is now trying to determine what group of customers it can satisfy with a good or service. It is in the process of choosing a
target market.
If a company develops an advertising campaign that targets a segment of consumers with a certain income and education, the company is using the following segmentation variable:
demographic
Which of the following can be changed quickly to stimulate demand or respond to competitors’ actions?
price
Distribution is sometimes referred to as
place
Which of the following is not an influence on the marketing environment?
Manufacturing forces
During which stage does the firm gear up for full-scale production, distribution, and promotions?
Commercialization
Magazines located next to the checker counter at a grocery store would probably be classified as
convenience products
products such as furniture, audio, equip, bicycles, and everything generally classified as
Shopping products
industrial products such as lumber, cotton, and iron are classified as?
raw materials
if a product is experiencing negative profits and the company is spending a great deal of money on advertising to make consumers aware of the product, the product is most likely in the following life cycle stage?
Introduction
A products profits peak and start to decline during which of the life cycle stages?
Growth
Diet Coke is
Brand Name
_____encourages consumers to make purchase based on emotion, rather than rational consideration about the price.
Psychological pricing
The financial value placed on an object involved is an exchange is?
The Price
When a computer company initially charged a low price for a new computer and then raised gaining a large market share, it was using which pricing strategy?
Penetration
Conducting___means carrying out the goals of business through the use of the internet?
e-business
The ability of a business to identify customers before they make a purchase is?
Addressability
which of the following industries is not listed in your text as one that has been significantly impacted by the internet?
Small-Scale organic farming
In 2009 the average U.S. adult spent___hour(s) a day on social networking sites and surfing the internet.
6
one aspect of marketing that has not changed with digital media is the importance of achieving the right?
marketing mix
The Internet is a new____For marketing products available at the right time, at the right place, and in the right quantities
distribution channel
___are audio or video files that can be downloaded from the Internet via a subscription that automatically delivers new content to listening devices or personal computers.
Pod Casts
____is the most popular online social networking site in the world.
Facebook
Marketing over devices has been made possible largely by___, Which allow(s) users to perform a variety of functions, from playing games to comparing product prices from different stories.
apps
What is the number-0ne consumer complaint to government agencies, when it comes to the internet?
fraud