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E-commerce is replacing traditional retailing.
The most important factor when evaluating the labor supply in an area is its prevailing
wage rate.
Market penetration pricing is a short-term pricing strategy that achieves high profits
quickly.
A method small businesses might use to achieve more of the brand and name
recognition that larger, more established companies have is to form strategic alliances
with bigger companies.
A letter of credit is an agreement between an exporter's bank and a foreign buyer's bank
that guarantees payment to the exporter for a specific shipment of goods.
The first step in preparing a cash budget is to forecast sales.
Building a successful e-business does not necessarily require a well-thought-out
strategy, it simply involves securing a good URL and getting online.
Important advantages of leasing include the flexibility of the lease agreement and
protection against obsolescence.
Generally, the larger a retail store and the greater its selection, the broader its trade area
size.
A reliable cost accounting system is necessary for accurate pricing. The traditional
method of product costing, where the costs of direct materials, direct labor, and factory
overhead are included in a finished product's total cost is called ________.
A) absorption costing
B) break-even pricing
C) direct costing
D) absorption pricing
Which of the following statements is true?
A) Overall, Competitor 2 is the strongest of these three companies.
B) Your company's most serious weakness is its poor quality.
C) Your company's most vulnerable point against these two competitors is in the area of
on-time delivery.
D) The most important of the key success factors is location.
Which of the following is not a step in creating a cash budget?
A) Determining an adequate minimum cash balance.
B) Forecasting profits.
C) Forecasting cash receipts.
D) Forecasting cash disbursements.
Which of the following is not a suggestion of a means of focusing on the customer?
A) Seeing the customer's point of view.
B) Get total commitment to superior customer service from everyone in the
organization.
C) Carefully select and train everyone who will deal with the customer.
D) Actually, all of the above are suggested as a means of focusing on the customer.
Locating close to ________ is critical for manufacturers, service providers and other
companies that will be competitive.
A) markets they plan to serve
B) suppliers
C) transportation routes
D) airports and rail transportation
A customer who purchases a television from Ace Appliance Store and pays for it in 36
monthly payments is most likely using ________ credit.
A) trade
B) charge account
C) installment
D) debit card
In job enrichment, ________ is the degree to which a job requires a variety of different
skills, talents, and activities from the worker.
A) skill variety
B) task identity
C) task significance
D) autonomy
Hiring a diverse workforce ________.
A) helps in cultivating organizational creativity
B) allows for different ideas and varying methods of problem solving
C) brings in people from different backgrounds, with different cultural experiences,
hobbies, and interests
D) All of the above
Some companies use ________ to encourage customers to participate in the design of
their products, a process called ________.
A) wikis; co-creation
B) wikis; collaboration
C) widgets; co-creation
D) mashups; co-creation
The relationship between core competencies and competitive advantage is best
described by which statement?
A) Strengthening a company's competitive advantage strengthens its core competencies.
B) A company's core competencies become the nucleus of its competitive advantage.
C) As a company's core competencies become stronger, its competitive advantage
becomes weaker.
D) There is no relationship between core competencies and competitive advantage.
Macy's buys white, pinpoint oxford blouses at $14 each and sells them at $30 each.
Macy's percentage (of retail price) markup is ________ percent.
A) 46.7
B) 87.5
C) 53.3
D) 114.3
Which of the following question(s) should you consider before entering a lawsuit to
protect intellectual property?
A) Can you afford the loss of time, money, and privacy the lawsuit will bring?
B) Can the opponent afford to pay if you win?
C) Do you expect to get enough from the suit to pay for the costs of hiring an attorney?
D) All of the above
