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business
business essentials

Questions and Answers of Business Essentials

A bargaining unita. works to determine proper sale pricing of products.b. helps in the negotiation of the sale of the company.c. is the price of a share of stock.d. negotiates with employers for
Internal recruiting means an open position will be filled by friends or family first.True or False
Profit sharing could mean that in a good year, employees get bonuses, or it could refer to the company’s contributions to an employee retirement plan.True or False
Some companies use 360-degree appraisal of employees, gathering input from both their managers and their subordinates.True or False
Employment at will means workers have increased job security.True or False
A diversified workforce adds creativity and a variety of viewpoints to the workforce, which often helps improve a company’s competitiveness and its bottom line.True or False
Performance management is one alternative to a traditional performance appraisal. Which style of evaluation would you prefer as an employee? Which would be more useful to you as a manager?
An inefficient hiring process can cripple a company because the costs of turnover and retraining employees are so high. Does electronically collecting and evaluating résumés help companies? Job
Describe the “perfect” benefits package. How would your salary and pay level affect your decision? Would you accept a lower pay level for better benefits?
Using the Internet, access the annual reports of three companies in different industries. How are human resources issues handled in the annual report? What kind of HR issues do the reports discuss?
It is happening more and more that a candidate’s social media profile has caused him or her not to be hired.Review all of the online materials available about you—Facebook, LinkedIn, blog
Costco directly competes with Sam’s Club, the bulksales retailer owned by Walmart. Costco and Sam’s Club approach labor in different ways. This can be seen in the salaries they pay, in the
Many companies have determined that their biggest asset is their employees, so taking care of employees is a mission-critical objective. Research companies that use benefits packages as a way to make
Research several colleges’ policies on student employees. How many hours can students work, and what types of employee behaviors and disciplinary actions do the policies specify? How do the rules
A database management system (DBMS)a. is another term for Big Data.b. is a set of tables of data.c. assesses the performance of employees for management.d. is the result of electronic monitoring of
MIS differs from IT becausea. MIS focuses on applying IT to solve business problems.b. MIS is the branch of IT focused on Internet usage.c. IT focuses on hardware, and MIS focuses on software.d. MIS
DSSs are used most often bya. managers who make decisions based on current data.b. employees who decide how to solve technical problems.c. clerical staff who organize and format documents and
Data warehousing isa. the storing of terabytes of transaction data.b. not used when DBMSs are in place.c. is not used now because data marts have replaced it.d. is the management of large quantities
Tools used to analyze data includea. DBMSs, ERP, and ROI.b. DSSs, OLAPs, and executive information systems.c. OSHAs and C2Cs.d. PPCs, ISs, and B2Bs.
Pay-per-click advertisinga. cost the advertiser only if a reader actually clicks on the ad.b. is offered by programs like Google AdSense.c. are highly effective because they are associated with
Social media monitoring is best described asa. planning events where the sales force mingles with potential clients.b. regulating the use of e-mail and messaging in the workplace.c. staying aware of
Phishing can be used toa. minimize the taxes owed to the federal government.b. steal identity information from unsuspecting clients.c. record the keystrokes typed in when someone is logging into a
Business-to-business transactions includea. brokering sites.b. social networking sites.c. specialized industry portals.d. Both a and c.
Technology has forced businesses to focus on security issues likea. phishing.b. adware and spyware.c. disruption by hackers.d. All of the above.
Contextual advertising means that the advertisement is related to the search just made.True or False
Business intelligence software supports decision making by presenting visual, interactive views of the state of a business.True or False
Viral marketing can be prevented by using the proper spyware.True or False
Enterprise social networking is the application of social network tools to education.True or False
Crowdsourced funding is the use of social networking to acquire capital for a new venture.True or False
Businesses have experienced several major data breaches in the last few years. How do you see these lapses in corporate security affecting consumers? Does it make you less likely to purchase from
The growth in online and mobile shopping has forced many businesses to dramatically adjust their sales and marketing strategies. What kind of brick-and-mortar bookstores have survived the move to
Who is responsible for keeping the credit card numbers of Lowe’s customers secure?
How can consumers know if it’s safe to use their credit cards to make a purchase?
Were Salcedo’s and Botbyl’s sentences appropriate? Why or why not?
Visit the WikiLeaks website and select two of the most current leaks posted. Evaluate the effect of the information being made public. Does it violate the privacy rights of the individuals involved?
Apple’s second largest market for iPhones is China.It took careful negotiation though for the Chinese government to allow Apple to bring its iTunes store to China because that would give Chinses
Visit BMW’s website. This international portal redirects customers to one of many hundreds of countryspecific sites. Select three countries and investigate the websites presented. What elements are
Research the data breach at Maricopa County Community College, where information for 2.4 million current and former students was exposed. How the college’s IT department responded after the breach
Examine the PBS Frontline episode “Generation Like” at www.pbs.org. Are young people and their social media sites being exploited by marketing professionals? Or is this generation especially
Which is a consideration when picking the best location for a companya. proximity to customers.b. proximity to raw materials.c. proximity to skilled labor.d. all of the above.
Mass customization is achieved by using which type of system?a. Flexible manufacturing systemb. Lean productionc. Forward processingd. Backward processing
Which production process strives to reduce waste and improve production flow?a. Mass customizationb. Mass productionc. Lean productiond. Assembly line production
If the Ford Motor Company wants to understand the aerodynamics of a new auto body, which of the following would be used to create a virtual three-dimensional model of the auto body?a. CADb.
Which of the following is a set of environmental quality standards that can be applied to any organization?a. Six Sigmab. ISO 14001c. ISO 9001d. TQM
An inventory system that keeps the smallest amount of inventory on hand is calleda. a just-in-time system.b. radio frequency tagging.c. materials requirement planning.d. enterprise resource planning.
Which feature distinguishes a PERT chart from a Gantt chart?a. A PERT chart creates a time line of production tasks.b. A PERT chart creates a work flow for production equipment.c. A PERT chart
Radio frequency identification is used toa. keep track of the status and quantity of each inventory item.b. keep track of the customer base for a product in the store.c. stay in touch with other
Which type of facility layout would be best used for the production of custom-designed bicycles?a. Product layoutb. Process layoutc. Cellular layoutd. Fixed position layout
A distinction between Six Sigma and TQM is:a. reducing errors throughout the production processb. improving customer satisfactionc. identifying potential errors.d. obtaining near perfection through
Robots can work around the clock with good accuracy and in potentially hazardous conditions.True or False
CIM refers to using computer software to create two- or three-dimensional models of parts or devices.True or False
Supply chain management refers to the process of delivering the supplies necessary for manufacturing.True or False
The make-or-buy decision determines what part of the production process needs to outsourced.True or False
Because the United States is more of a servicebased economy, manufacturing is not a contributor to the GDP.True or False
Supply chain management is the management of activities from all organizations involved in producing and delivering a good or service.Describe the supply chain that delivers education at your
Providing quality customer service is an important factor in any service organization, yet we often have to wait extended periods of time to be seen by a doctor or have had bad service at a
What decision would you make in this situation—land or sea?
If you were told that you would take a personal pay cut from switching to the more environmentally friendly route, how would that affect your decision?
What kind of impact do you think one company switching to less environmentally damaging practices could have on the general atmosphere of the shipping world?
Burger King introduced mass customization to its fast-food offerings in the mid-1970s, thus revolutionizing how fast food could be delivered. Today, mass customization is aided by the Internet and
Although the United States has become more of a service-based economy, many feel that the focus on creating new, environmentally friendly technologies may bring manufacturing back to the country and
The use of chips to track goods during the shipping process is becoming more widespread. Use the Internet to research options for RFID. What are some of the options for tracking goods? What kind of
The Alliance for Innovative Manufacturing at Stanford University has put together short videos on how certain products, such as jelly beans, airplanes, and bottles, are made. These products use
Several companies have received the Malcolm Baldrige National Quality Award multiple times. Research at least two of these companies and discuss the quality initiatives each company has in place to
Which marketing era occurred during the Great Depression when manufacturers almost had to force consumers to purchase their products?a. Production concept erab. Sales concept erac. Marketing concept
When a car is purchased, time utility refers to the value customers receive froma. owning the car.b. the styling and function of the automobile.c. ensuring the car is available when the customer
Which of the following would not normally appear in a marketing plan?a. a description of the target marketb. an outline of sales goals and objectivesc. a situational analysisd. a written marketing
Tenitia Reynolds opened a small community bookstore several years ago. When a new book comes out, Tenitia e-mails clients she thinks will enjoy it based on their past purchases. Which part of the
Bill Wertz runs a transportation service that caters exclusively to the residents of retirement communities. Bill’s business is taking advantage of which of the following marketing environments?a.
Which of the following does not define a B2B market?a. The market consists of small-volume purchases in a geographically dispersed area.b. Buyers make complex purchasing decisions, often with formal
Market segmentation based on lifestyles, personality traits, motives, and values is calleda. geographic segmentation.b. demographic segmentation.c. psychographic segmentation.d. behavioral
Which of the following represents a shift from the four Ps to the four Cs of marketing?a. Considering the complete cost of a product to the consumerb. Making the product convenient to buyc. Focusing
Identifying the internal strengths and weaknesses as well as the opportunities and threats found in the external environment with regard to the marketing functions of an organization is known asa. a
Which is not an example of secondary data?a. Census datab. Customer feedback on Twitterc. Focus group resultsd. Data collected from company sales reports.
The main difference between the B2B and B2C markets is that B2B markets have fewer buyers that purchase many more individual quantities.True or False
Purpose is one of the four Ps in the marketing mix.True or False
A market niche is a narrowly defined market segment.True or False
Employees can benefit from successful marketing because new job opportunities may be created as production expands to satisfy the growing demand for highly valued products.True or False
Societal marketing began after the Great Depression when the economy was improving and most of society wanted to spend.True or False
Think of an example of how a specific organization (for-profit or not-for-profit) tried to establish a better customer relationship with you.What did the organization do? Was it effective?Why or why
List as many brands of cars as you can think of. Group the car brands into target markets.What features of each brand identify its target market?
Go to Patagonia’s website and look at all the actions the company has taken and is currently pursuing in their efforts to become a responsible company. Briefly summarize their current campaign
Discuss how Patagonia’s environmental and corporate social responsibility practices drive customer loyalty.
In The Footprint Chronicles, the company lists ways other companies can use Patagonia’s strategies to reduce their carbon footprint. Choose a local company or even your college and discuss how you
Go to Apple’s website and click on the Apple Watch link. Describe Apple’s marketing mix strategy for the product—that is, the product/customer, price/cost, promotion/communication, and
Marketers are offering coupons on mobile devices, sending alerts to them to announce special sales or discounts, using QR codes, and creating mobile shopping applications. Starbucks is a leader in
Visit the websites of Trader Joe’s and Whole Foods Market. Both companies are in the organic and health-conscious food industries. Compare the two websites. What marketing techniques does each site
Groupon and LivingSocial pioneered the concept of daily deals. Over time, many more daily deal websites, such as Woot and Google Offers, have evolved.Research three daily deal websites and comment on
The Jeep brand uses a nontraditional marketing approach by offering Jeep owners invitations to special events. Go to the Jeep website and research the events that this company offers to its
When you order take-out pizza, which represents the actual product?a. hunger satisfactionb. crust with tomato sauce and cheesec. prompt deliveryd. delicious smell
Which of the following is not an example of a product line length?a. Diet Coke, Cherry Coke, and Classic Cokeb. Quaker Instant Oatmeal, Quaker Oatmeal Squares, and Quaker Toasted Oatsc. Honda Civic,
When companies compete aggressively on the basis of price, quality, and brand-name image because consumers carefully compare brands, these businesses are most likely selling __________ goods and
When businesses hire celebrities to endorse their products and connect their brands with positive attributes, they are focusing on enhancing their branda. loyalty.b. awareness.c. association.d.
A brand that markets several different products under the same brand name is aa. manufacturer’s brand.b. family brand.c. private brand.d. co-brand.
Siobhan Clark just bought a Chicago Cubs jersey with player Jon Lester’s name and number on the back, as well as a hat and jacket that display the Cubs logo. The type of branding strategy used for
In what stage in the product life cycle would you consider Tesla automobiles to be?a. Introductionb. Growthc. Maturityd. Decline
Stephanie Ling has been asked to conduct a breakeven analysis. In which category would she put the cost of rent for the manufacturing facility?a. Fixed costb. Variable costc. Revenue costd.
Rocco Valentino shops only at Walmart because Rocco believes he will receive the lowest price without further hassles. This type of pricing strategy is known as __________ pricing.a. dynamicb.
Sally and Brian only go shopping on Tuesdays because they can get the senior discount.Which pricing strategy are they taking advantage of?a. Predatory pricingb. Price discriminationc. Target
The augmented product provides additional value to a customer’s purchase.True or False

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