The match between the needs, expectations, and culture of the small business with the
expectations and the skills of the individual employee is called:
A. employee referral.
B. employee fit.
C. job description.
D. job analysis.
Which of the following is true of customer retention?
A. It focuses on increasing customers’ cognitive dissonance.
B. It focuses on satisfying prospective customers to make a sale successful.
C. It handles problems that crop up after a sale.
D. The CRM aspect of customer retention is based on short-term monitoring of
customers.
Which of the following is the first step in crafting a job description?
A. Writing job overview
B. Writing duties and responsibilities
C. Writing job title
D. Writing credentials and experience
Which of the following international strategies is usually inexpensive, quick to start,
easy to change, and less risky than the others?
A. Exporting
B. Joint venture
C. Franchising
D. Licensing
Pest control, lawn services, and carpet cleaning are examples of services at a _____.
A. client’s location
B. competitor’s location
C. remote location
D. mutually accessible location
Which of the following is the best strategy for Silken Glow to follow to retain market
share for the short term?
A. Show how easy the shaver is to use.
B. Show how well the shaver co-exists with other products the customer owns.
C. Advertise how the shaver makes women’s lives better.
D. Offer a coupon or rebate with every pack of the shaver.
.
Differential advantage is typically the result of a business:
A. adopting a code of conduct that is different from other businesses.
B. exhibiting heterogeneity each time it provides its services.
C. being distinct from other businesses in terms of product, price, place, and promotion.
D. going through different stages of new product development and product life cycle.
The _____ is also called the reorder point.
A. replacement value
B. disposal value
C. optimum stocking level
D. economic order quantity
_____ is the practice of trading goods and services without the use of money.
A. Barter
B. Consignment
C. Noncash incentive
D. Float
_____ are classic strategies for businesses of all types and they include differentiation,
cost, and focus.
A. Personalization strategies
B. Altruistic strategies
C. Retrenchment strategies
D. Generic strategies
The challenge of _____ refers to when woman or minority-owned businesses are
simply excluded from the opportunities offered to firms owned by white males.
A. consistency
B. access
C. flexibility
D. mutuality
The practice of purchasing and accepting delivery of inventory only after it has been
sold to the final customer is termed as _____.
A. perpetual inventory
B. point-of-sale system
C. just-in-time inventory
D. optimum stocking level
A _____ is an organization that provides financial, technical, and managerial help to
start-up businesses.
A. business incubator
B. trade association
C. venture capital firm
D. consultancy
A delay in delivering checks from the writer of a check to the recipient’s bank is called
_____.
A. processing float
B. overdraft
C. availability float
D. charge back