1. (TCO 7) The relationship between a PERT chart and a Gantt chart includes which of the following? (Points : 5)
A Gantt chart is used for forecasting sales. A PERT chart is used for measuring progress. They are both considered to be control procedure monitors. Both use a critical path to delineate the flow of materials. A PERT network can be made up of thousands events over many months.
Question 2.2. (TCO 7) The results of materials requirement planning include (Points : 5) investment forecasts. profit forecasts. human resource forecasts. reduced inventories. increased inventories.
Question 3.3. (TCO 8) The era of sustainability has entered into distribution as well as the other aspects of marketing. Given this information, (Points : 5) the decision of what distribution mode to use is less complex than first imagined. emissions from air freight are lower than rail shipping. emissions from air freight are higher than ocean shipping. motor transportation is more fuel efficient per ton-mile than rail. transportation accounts for one third of carbon dioxide emissions.
Question 4.4. (TCO 8) You work in a store selling moderately priced, ready-to-wear clothing at a mall near where you live. The sales step that you can expect to follow includes (Points : 5) preapproach. prospecting. qualifying. asking questions. following up.
Question 5.5. (TCO 1) People who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address include which of the following? (Select all that apply.) (Points : 5) Bankers Employees Surrounding community Foreign business leaders Customers
Question 6.6. (TCO 1) As a pharmacist in your community, you are concerned with the level of service provided to those in need at odd hours and after hours and in the neighborhoods where such extended service is needed. Your concerns are centered around which? (Select all that apply.) (Points : 5) Making products and counseling available when consumers need them Changing the buying behaviors of consumers Placing products and counseling where consumers need them Doing whatever is necessary to provide credit through debit cards and credit cards Providing open and free-flowing communication to the consumers
Question 7.7. (TCO 1) (TCO 1) As a newly licensed civil engineer in your state, you have decided to start your practice as a sole proprietor. It seems to you that the best way to jump-start your new civil engineering practice is by marketing your services to general contractors. Which factors apply to the marketing being described in this scenario? (Select all that apply.) (Points : 5) There are many potential customers in your immediate area. Marketing your efforts is based more on advertising. Customers tend to be geographically concentrated. There are few potential customers in your immediate area. Customers use defined specifications for buying.
Question 8.8. (TCO 2) It can be difficult to balance ethics and other goals, such as pleasing stakeholders or advancing your career. According to management writer Ken Blanchard and religious leader Norman Vincent Peale, it helps to ask oneself which of the following questions when facing an ethical dilemma? (Select all that apply.) (Points : 5) Is my proposed action legal? Is my proposed action legally defensible? Is it balanced? Is it the truth? How will this course of action make me feel about myself?
Question 9.9. (TCO 2) The Uniform Commercial Code includes which? (Select all that apply.) (Points : 5) Laws that cover promissory notes and checks Legally enforceable agreements between two or more parties Bills of Lading Something of value Forms of commercial paper
Question 10.10. (TCO 2) The change in U.S. business from manufacturing to knowledge-based technology has created new regulatory challenges for federal agencies. This means which? (Select all that apply.) (Points : 5) The government’s resolve to pursue antitrust cases has increased. Competition is a cornerstone of a knowledge-based economy. Antitrust oversight has always been the rule. The definition of anticompetitive behavior has been expanded. Antitrust issues will persist in the future.
Question 11.11. (TCO 3) Strategies for reaching global markets include which? (Select all that apply.) (Points : 5) Licensing Importing Direct marketing Franchising Contract manufacturing
Question 12.12. (TCO 3) Global marketing strategies are your area of expertise. As such, your new employer, Mega-Giant Toys, has tasked you with gaining entry into a new market with a new console game. Your concerns for launching this product in a new market include which? (Select all that apply.) (Points : 5)
of commitment, control, risk, and profit potential Licensing in such a manner that retains the trade secrets of the device Direct exporting of the devices Adapting the device to the new countries that it will be marketed and sold in The income potential of the devices as a result of foreign direct investment
Question 13.13. (TCO 3) Currency valuation problems can be especially harsh on developing economies. At times, a nation’s government will intervene and readjust the value of its currency, often to increase the export potential of its products. This means which? (Select all that apply.) (Points : 5) Devaluation lowers the value of a nation’s currency relative to others. Devaluation raises the value of a nation’s currency relative to others. Due to a nation’s strong currency, the only way to trade is bartering. Due to a nation’s weak currency, the only way to trade is bartering. Countertrading is a simple form of bartering with good profit potential.
Question 14.14. (TCO 4) The advantages of partnerships include which? (Select all that apply.) (Points : 5) Additional financial resources Unlimited liability Difficulty of termination No additional special taxes Longer survival
Question 15.15. (TCO 4) Entrepreneurs, their ideas, and the businesses they start help create jobs in the United States. The history of the United States is the history of its entrepreneurs. Entrepreneurs and their start-up organizations share which of the following commonalities? (Select all that apply.) (Points : 5) Graduated from college before starting their businesses Understood all facets of the market Had a track record of successful start-ups Borrowed some money from friends and family A good idea that was marketable
Question 1.1. (TCO 5) The changing marketing environment presents a continuous challenge to companies wishing to increase their sales revenues. A number of processes are used to try and obtain better strategic marketing information. Looking at such strategic marketing information is only a part of the whole picture, however. The facets of the marketing environment that should be considered are which? (Select all that apply.) (Points : 5) Values, attitudes, and beliefs of the target population Expenses and employment data by household Changes to the Internet, telecommunications, and computers Speed, service, price, and selection of the products Strengths, weaknesses, and threats as perceived by the target population
Question 2.2. (TCO 4) To look at problems and/or passions and see opportunities in them, which of the following questions should be asked? (Select all that apply.) (Points : 5) What do I want but can never find? What services would improve society? What products would improve my life? What irritates me, and what product would help? What products would improve all mankind?
Question 3.3. (TCO 5) In the vacation market, many people find the holiday they want themselves. They use the Internet to find the right spot and then make choices, sometimes questioning potential sellers online. By using the Internet in this fashion, which is the role of marketing? (Select all that apply.) (Points : 5) Make sure that a company precludes traditional advertising Make sure that a company’s services are easily available for review by possible purchasers Make sure that a company’s products are easily available for review by possible purchasers Make sure that the company cultivates personal relationships with customers Make sure that the company responds effectively to potential customers
Question 4.4. (TCO 5) Direct marketing now has a new dimension with interactive video. Producers now provide all kinds of information on websites. Which can consumers do? (Select all that apply.) (Points : 5) Seek the best price Bypass the middleman markup Order paper catalogs Order goods and services Ask questions
Question 5.5. (TCO 6) The elements of leading include which? (Select all that apply.) (Points : 5) Providing resources Rewarding performance Clarifying policies Developing employees Explaining routines
Question 6.6. (TCO 6) One of the aspects of efficient use of a facility as well as efficient use of employees’ time and energy is that of layout. This necessarily includes the physical arrangement of resources (including people) in the production process. These include which? (Select all that apply.) (Points : 5) A facility where teams of workers combine to produce more complex units of the final product A facility where workers congregate around the product to be completed A facility where teams of workers do a great number of tasks at a time A facility where workers do only few tasks at a time A facility where similar equipment and functions are grouped together
Question 7.7. (TCO 6) Managers of employees from different cultural and geographic backgrounds have unique opportunities to reach out to new markets and understand ways to extend their products to new markets. A better understanding of other cultures’ customs and concerns helps managers increase customer satisfaction and customer loyalty. Part of cultural competency is not only understanding different languages but also understanding which? (Select all that apply.) (Points : 5) Similar food selections Looking others in the eye when speaking to them How much space should be between people Customs How people wish to be addressed
Question 8.8. (TCO 7) You have just been hired as the new production and operations manager for Little Bitty Diesel Electric Generator Sets (LBDEGS). Demand has been so great that a new factory will have to be built to keep up with the market demand. Evaluating various and sundry sites presents a number of concerns to you. Which criteria apply in a decision process such as this one? (Select all that apply.) (Points : 5) Labor costs at the new location Land costs at the new location Additional unskilled workers being available Local government providing support Transportation costs being low
Question 9.9. (TCO 8) The marketing research process includes which? (Select all that apply.) (Points : 5) Defining the question Establishing statistical standards Preselecting people to interview Collecting the research data Analyzing the research data
Question 10.10. (TCO 9) Using social media is an important component in today’s business environment. Partnering with customers in this manner includes which? (Select all that apply.) (Points : 5) Understanding broadband technology, such as fiber-to-the-home Allowing the network to mature Understanding the impact of your competition Being authentic and genuine Responding to customers in a timely manner
Question 11.11. (TCO 9) Knowledge management and business intelligence are interrelated to one another. As well, the scope of the Internet, corporate intranets, extranets, and virtual private networks continue to evolve and improve. Given this information, you are the new CIO of Gargantuan Baby Doll Company. The holiday sales rush is coming up soon, and you want to be sure that your IT operation is ready to fully and completely support the company. Your concerns are centered around which? (Select all that apply.) (Points : 5) Full and complete integration of all resources Full and complete integration of information Full and complete integration of reports Full and complete integration across multiple and extended venues Full and complete seamlessness to the end user
Question 12.12. (TCO 9) The increasing use of technology creates major concerns about privacy. This means which? (Select all that apply.) (Points : 5) Civil libertarians have to fight to keep certain kinds of information unavailable to the public. Most companies scan employee’s e-mail on a regular basis, even though this is illegal. E-mail programs can send cookies to your computer that stay on your hard drive. Information is a commodity and is an economic good with a measureable value. No software can be installed on your computer without your knowledge, even from a website.
Question 13.13. (TCO 10) Business intelligence includes which of the following? (Select all that apply.) (Points : 5) A variety of hardware configurations to support the strategic initiatives of the firm Analysis of an organization’s raw data Querying the raw data to discern meaningful insights from them Generating reports from the information in the database Providing enhanced statistical reporting from the information
Question 14.14. (TCO 10) The most common reasons that companies fail are which? (Select all that apply.) (Points : 5) Underspecialization Poor control of cash flow Lack of adequate sales revenue Inadequate control of expenses Inadequate managerial expertise
Question 15.15. (TCO 10) Imagine that you have just earned your business degree and have been hired as a hospital administrator at a small hospital that, like many others, is experiencing financial problems. Which of the following are suggestions that you would make to help improve the financial position of the hospital and correct the financial problems? (Select all that apply.) (Points : 5) Improve the efficiency of the hospital’s cash management system Use a carefully planned inventory control system Discontinue the hospital’s large stockpile of drugs Implement a just-in-time inventory system Use a carefully managed inventory control system