The chief operating officer is the highest-ranking officer of a corporation.
Roughly, 10 percent of U.S. workers can be categorized as contingent employees.
Sales promotion consists of two basic categories: consumer promotion and trade
promotion.
The North American Free Trade Agreement was formed by twelve North American
countries.
Albert buys the stock of an established corporation, mainly to obtain good dividends.
However, the corporation’s growth is limited. This stock is an example of a defensive
stock.
Merchant wholesalers that sell products to organizational customers for internal
operations or the production of other goods, rather than to retailers for sale, are known
as manufacturers’ representatives.
The World Trade Organization is a permanent forum for negotiating, implementing, and
monitoring international trade procedures.
Comparative advantage theory states that countries should produce and sell to other
countries those things it can produce most efficiently.
Product life cycle refers to the four stages through which a product progresses.
Economies of scale are savings from not buying too much of any one thing.
Expense items are inexpensive products that organizations generally use within a year
of purchase.
A functional team is organized along the lines of the organization’s vertical structure.
Motivational collapse occurs when the would-be entrepreneur encounters one too many
setbacks and simply doesn’t have the drive to keep going.
A slotting allowance is a payment to a retailer in exchange for carrying a producer’s
products for an agreed-upon length of time.
Which of the following is a document that authorizes another person to vote on behalf
of a shareholder in a corporation?
A) agency agreement
B) proxy
C) draft
D) affidavit
E) share certificate
During the business analysis stage, a company ________.
A) sells the product on a limited basis to gauge its market appeal
B) invests significantly in research and development
C) reviews the sales, costs, and profit projections
D) screens the business ideas that it has generated
E) generates a wide variety of ideas to introduce a new product
________ refers to the use of random sampling and tools, such as control charts, to
monitor the production process.
A) Total Quality Management
B) Six Sigma
C) ISO 9000
D) JIT quality
E) Statistical process control
________ refers to contracting out certain business functions or operations to other
companies.
A) Outsourcing
B) Scaling
C) Rescaling
D) Customization
E) External valuation
Lisa has a small language training business. She provides French and Spanish lessons to
several customers in the neighborhood. What type of business does Lisa have?
A) goods-producing business
B) manufacturing business
C) service business
D) merchandising business
E) not-for-profit organization
A ________ is a planning and control tool that reflects expected revenues, operating
expenses, and cash receipts and outlays.
A) data structure
B) financial plan
C) cash flow
D) budget
E) capital structure
When you enter a Sonicboom store, you won’t find shelves of its products. Instead, it
has attractive, interactive displays that help you “audition” various Sonicboom music
players. The store has a soundproof room where customers can listen to music and play
high-definition videos, see and hear the audio and video performance of Sonicboom
products. Customers are given free monthly newsletters, with reviews of Sonicboom,
and articles on latest trends in the music industry. This would be an example of
________.
A) strategic sourcing
B) disintermediation
C) retail theater
D) multichannel retailing
E) wheel of retailing
________ is the management function of keeping a company’s activities on track
toward previously established goals.
A) Organizing
B) Leading
C) Planning
D) Motivating
E) Controlling
Which of the following is an example of an industrial union?
A) a union that provides membership only to those with a specific skill
B) a union of electrical workers in the United States
C) a union of engineers across the world
D) a union that gives membership only to salespeople in an industry
E) a union that represents all the employees of a manufacturing company
Which of the following is a key difference between product mix and product line?
A) Product line is the complete set of the products in an industry, whereas product mix
is an incomplete set of products.
B) Product mix contains products that are similar, whereas product line may contain
dissimilar products also.
C) A product mix is used by larger companies, whereas a product line is used by smaller
companies.
D) Product line is a set of heterogeneous goods or services whereas product mix is a set
of homogeneous products.
E) Product mix includes all products from a single manufacturer, whereas product line
contains a group of similar products.
Stores that carry only a particular type of goods, often with deep selection in those
specific categories, are called ________.
A) department stores
B) specialty stores
C) distributors
D) drop shippers
E) convenience stores
________ refers to transferring a part or all of a business function to a facility in
another country.
A) Offshoring
B) Scaling
C) Leveraging
D) Customization
E) External valuation
Which of the following is a measure of how committed team members are to their
team’s goals?
A) groupthink
B) vertical integration
C) horizontal integration
D) decentralization
E) cohesiveness
The idea that a business has obligations to society beyond the pursuit of profits is
________.
A) corporate social responsibility
B) utilitarianism
C) philanthropic sustainability
D) ethical minimization
E) opportunistic responsibility
An eco-friendly health resort claims to be environment friendly, and markets itself as an
eco-resort. However, it engages in irresponsible activities such as wastage of water,
disposal of plastic and other untreated wastes into the water bodies, and cutting trees in
protected areas to expand its facilities. This is an example of ________.
A) environmental minimalism
B) quasi-environmentalism
C) greenwashing
D) collectivism
E) proactivism
Trade that takes place without governmental interferences is known as ________.
A) subsidized trade
B) protected trade
C) illegal trade
D) free trade
E) moderated trade
________ refers to the planning, movement, and flow of goods and related information
throughout the supply chain.
A) Logistics
B) Distribution mix
C) Wheel of retailing
D) Marketing mix
E) Multichannel retailing
Achieving ISO certification indicates that the ________.
A) company has recently effected a drastic quality change
B) company is responsive toward its environment
C) company manufactures goods in a European country
D) company’s internal processes meet accepted standards
E) company ensures that the defects are limited to 3.4 in million
Under ________, lawmakers establish maximum allowable amounts of a pollutant that
an industry is allowed to emit and distribute individual allowances to all companies in
that industry.
A) sustainable development
B) cap and trade
C) ecological barter
D) environmental control
E) carbon offset projects
Danielle has an innate ability to solve interpersonal issues that the employees face and
she is always considerate toward her subordinates. She is capable of coordinating with
different types of employees in the organization. Danielle has high ________
intelligence.
A) informational
B) cognitive
C) critical
D) social
E) emotional
Dorco Cycles is a leading manufacturer of sports bicycles. The company has not revised
employee benefits for a long time now. The labor union representatives interacted with
the management a number of times to increase the wages, but the company maintained
that it is not in good shape to offer a pay hike. The union finally decides to stop work
for a week to pressure management. This is an example of a(n) ________.
A) arbitration
B) strike
C) boycott
D) lockout
E) injunction
What are slotting allowances?
What is a balance sheet? Why is it called a balance sheet?
Compare and contrast the terms race and ethnicity.
Describe cost of goods sold and operating expenses.
Compare and contrast institutional advertising with advocacy advertising.