exam!!!

Management is a process designed to achieve an organization’s objectives by using its resources effectively and efficiently in a changing environment.
true
top managers focus on strategic decisions to use resources to take advantage of opportunities
true
are typical resource that must be acquired by each organization in the pursuit of its objectives except
-people, raw materials and equipment, money, information (not Laws and regulations)
the development of a performance-appraisal system is primarily the concern of
human resource management
having analytical skills means that a manager is able to do all of the following except
think in abstract terms
an organization’s structure develops as managers assign tasks to work groups and specific individuals and coordinate the diver activities required to attain organizational objective
true
all groups are teams, but not all teams are groups
false
which is not a means of formally expressing an organization’s culture
employee dress codes
when the decision of company are very risky and low-level managers lack decision-making skills, the company will tend to
centralize
teams
share leadership and create collective work products
which of the following is an informal communication channel
the grapevine
if an employee is involved with transforming resource into goods and services then he is
operation management
from an operations perspective, food sold at a restaurant and services provided by a plumbing company are
outputs
Marketing creates value by allowing individuals and organizations to obtain what they want and need.
true
Marketing is not manipulating customers into buying things they do not really want, it is………
a systematic approach to satisfying customers
Acme Inc. is surveying customers as to what kinds of services they would like the company to add. It is involved in the marketing function of
marketing research
A marketing strategy is a plan of action for developing, pricing, distributing, and promoting products that meet the needs of specific customers.
truq
Secondary data are information observed and recorded or collected regularly from sources inside and outside the organization.
false
When a computer company initially charged a low price for a new computer and then raised the price after gaining a large market share, it was using which pricing strategy?
penetration
If a company’s goal is to develop an image of having very high-quality luxury products, it should employ a
prestige pricing strategy
A marketing channel includes all of the following except
secondary stakeholders
Advertising is direct, two-way communication with buyers and potential buyers.
false
A marketing channel is a group of marketing organizations that move products from producers to consumers.
true
The role of promotion is to communicate with individuals, groups, or organizations to facilitate an exchange directly or indirectly.
true
The characteristic of addressability means digital communication allows consumers to find information about competing products, prices, and reviews and become more informed about a firm and the relative value of its products.
false
Conducting _____ means carrying out the goals of business through the use of the Internet.
e-busines
___________ means digital communications allow consumers to find information about competing products, prices, and reviews and become more informed about a firm and the relative value of its products.
accessibility
Which of the following is a downside to digital media?
Employees waste time at work on social networking sites and downloading music X
Accounting is the recording, measurement, and interpretation of financial information.
true
Only businesses use accounting information to demonstrate how their funds are being used.
false
All of the following represent assets except
a bank loan
All business transactions can be classified as assets, liabilities, or owner’s equity.
true
The accounting cycle collects, records, and analyzes raw data constantly through the business’s life cycle.
true
Money has all the following characteristics except
intangibility
When inflation is very high, money is no longer a __________________ means of exchange.
stable
Rapid advances and technological innovations are requiring the banking industry to change.
true
Certificates of deposit are accounts with funds that usually cannot be withdrawn without advance notice and/or have limits on the number of withdrawals per period.
false
Another name for a checking account is a
demand deposit
Plants, offices, and equipment are considered
long-term assets
Two common means of financing with long-term liabilities are: equity financing and debt financing.
true
The par value is the interest rate on a bond.
false
Because having idle cash on hand is undesirable, a manager may choose to invest in
marketable securities
All of the following are ways to invest idle cash for the short term except
unsecured loans
What was the one tool that Ms. Carson mentioned was one of her greatest tools when launching a project, confirming a target market, starting a new web or social media ad campaign and any number of other uses?
google analytics
As an artist, Ms. Zonn felt that pandora and spotify were advocates for artists being paid a fair wage for the airtime given to them?
false
In the music industry, what did our guest feel like would be extinct in approximately the next five years?
record labels
If you need to increase a Property account, you would write a journal entry with a _____________ to that account.
debit
Which of the following financial statements best represents the accounting equation?
balance sheet
From a personal finance point of view, it is a good idea to never spend more than you make.
true
a business is individual or organization who try to earn a profit by satisfying people’s needs
true
which of the following is an example of nonprofit
special olympics
which economic system can be described as the government owns and operates major industries while individuals own small businesses
socialism
the price at which the number of products that businesses are willing to supply equals the amount of products that consumers are willing to buy at a specific points is
equilibrium price
taking someone else’s work and persecuting it as your own without mentioning the source is know as
plagiarism
_________occurs when an employee exposes an employer’s wrongdoing to outsiders, such as the media or government regulatory agencies
whistle blowing
an _______ is an identifiable problem, situation, or opportunity that requires a person to choose from among several actions that may be evaluated as right or wrong. ethical or unethical
ethical issue
one argument against social responsibility is that sone people question whether business has the expertise needed to assess and make decision about social problems.
true
an import lesson from emperor’s club “you don’t have to be an active participant to be unethical. example of is…
Mr. Hundert’s tuning blind eye to Sedgewick Bell’s veb.
The emperor’s club, a lesson could early be learned that “the past is the best predictor of the future” when watching Sedgewicks behavior
true
It is likely Sedgewick’s turing point to begin taking work seriously was Mr. Hubert’s belief in him; turning back was when Mr. Hubert did not epos him
true
Smart
-specific, measurable, attainable, relevant, timely
shortest path to failure in business is
undercapitalization
All partners are responsible for the business actions of other
true
A corporation may only be publically owned
false
A______ has act least one general partnership with assumes unlimital liability, and at least one united partner whose liability is united to his/her business
limited partinership
A general business involves a complete charing in the management of a business
true
Sole proprietorships have the least freedom from government reglulalion
false
multinational strategy is a strategy that involve standardizing products for the whole world like a single entity
false
least amount of foreign investment
exporting
in tennessee, non-profit board of directors have a legal usability for decision made by employees and operations of the non-profit
true
when a non-profit dissolve its business, profit must be
rolled into another non-profit
executive summary is
both
cover letter for business plan, 1st thing investors will read
primary problem with trade deficit
country exports more than imports