BUSN 115 WEEK 8 FINAL EXAM
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1. (TCO 7) Some of the characteristics of lean systems
include which of the following?
2. (TCO 7) Mass customization means
3. (TCO 8) One scarce item in the future will be water.
Which is the least expensive way to get water from places of abundance to
places of need?
4. (TCO 8) If there is one thing that advertisers agree
upon, it is the growing importance of social media in product promotion. Given
this information
5. (TCO 1) You own a hardware store in the small town where
you live. A big-box, multiline competitor has just opened. You see the
following as your advantages of maintaining your market share and continued
sales revenue. (Select all that apply.)
6. TCO 1) You are fairly good at various and sundry home
repairs. You aren’t very good at electrical things or anything having to do
with plumbing. But you’re great with painting, patching, and general
maintenance on a home. You’re contemplating starting a home repair business in
your town. What are some issues that you can influence and should be concerned
with in launching a new small-business start-up? (Select all that apply.)
7. (TCO 1) A technique that combines all the promotional
tools into one comprehensive, unified promotional strategy includes which?
(Select all that apply.)
8. (TCO 2) A conscious plan that represents and encourages
a unique set of values includes which? (Select all that apply.)
9. (TCO 2) The Uniform Commercial Code includes which?
(Select all that apply.)
10. (TCO 2) Some regulation of business seems necessary to
ensure fair and honest dealings with the public. The impact of this statement
can best be explained by which of the following? (Select all that apply.)
11. (TCO 3) Strategies for reaching global markets include
which? (Select all that apply.)
12. (TCO 3) Nations rely on a number of key indicators to
measure global trade. These include which? (Select all that apply.
13. (TCO 3) In 1948, a global forum was created whose
purpose it was to reduce trade restrictions on goods, services, ideas, and
cultural programs. The results of the efforts of this organization include
which? (Select all that apply.)
14. (TCO 4) The disadvantages of sole proprietorships are
which? (Select all that apply.)
15. (TCO 4) A limited liability company has which of the
following advantages? (Select all that apply.)
Page 2
1. (TCO 5) In this digital age, setting up shop online is
vital for most retail businesses. But having only an online presence that
customers can access at home isn’t enough anymore. Now consumers have an array
of smartphones and digital tablets that can get them online from anywhere. For
social networks and retailers alike, the mobile market has already enjoyed
tremendous growth. Given this information as a sales manager for Always Better
Car Sales (ABCS), your concerns include which of the following? (Select all
that apply.)
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.)
3. (TCO 5) Electronic wireless technology continues its
move toward ubiquity. Such media inculcates which of the following? (Select all
that apply.)
4. (TCO 5) You are an independent Internet marketing
consultant. You have an excellent track record of assisting small- to
medium-sized companies fully realize their marketing potential through an
improved and enhanced presence on the Web. Mr. Top Hatt, the owner of a small
pet-grooming salon (Hatt’s Cat Grooming Emporium), specializes in the care and grooming
of cats and only cats and has just called you. Mr. Hatt has heard of the
Internet but doesn’t know much else. He would like for his cat grooming
business to grow by using the Internet but doesn’t know what to do. Your
recommendations include which of the following? (Select all that apply.)
5. (TCO 6) Which does a mission statement address? (Select
all that apply.)
6. (TCO 6) Imagine a world that is populated by 9 billion
people. In order to maintain our current quality of life, such a world would
require 2.3 planets’ worth of resources. In order to sustain the U.S. way of
life, businesses and the government must plan for 30% more people living across
the globe. Most of those people will be in developing countries, and the demand
will be great for energy, food, and healthcare. Your concern is that you and
your production team have been asked by your leadership to create a scorecard
to measure your firm’s efforts in sustainability. Your team’s scorecard should
necessarily include which? (Select all that apply.)
7. (TCO 6) Mining Group Gold is a team process that
includes a method for processing and analyzing which? (Select all that apply.)
8. (TCO 7) A cellular or modular layout can accommodate
changes in design or customer demand. This includes which? (Select all that
apply.)
9. (TCO 8) The marketing manager is responsible for
choosing how to implement which? (Select all that apply.)
10. (TCO 9) Technology can provide significant increases in
productivity and efficiency. However, less than stable technology-based systems
can significantly impact businesses at the most inopportune times. Issues that
are inadvertently and unexpectedly created in such instances include which?
(Select all that apply.)
11. (TCO 9) Collaboration software allows multiple users to
work on the same document at the same time. It also facilitates
videoconferencing so that participants can see and hear each other regardless
of where they are. The advantage of using such software is which? (Select all
that apply.)
12. (TCO 9) Web 3.0 can be characterized by which of the
following statements? (Select all that apply.)
13. (TCO 10) The role of information technology has changed
since the days when it was known as data processing. You have been hired as the
new manager of the IT department for Megalopolis Corporation. Megalopolis
Corporation manufactures and sells barbecue grills to the middle-upper end of
the market. Demand continues to be strong for all products. However, providing
service (both warranty and nonwarranty) continues to be a challenge. In
essence, having the right parts at the right place at the right time is not an
easy task. Given this information, your set of “must-do-first” priorities
includes which? (Select all that apply.)
14. (TCO 10) An accounting system includes which? (Select
all that apply.)
15. (TCO 10) Which of the following financial management
functions are a part of financial planning? (Select all that apply.)
Page 3
1. (TCO 1) The latest economic news is not very positive.
Unemployment rates are higher than expected, consumer confidence has fallen,
and companies are reporting layoffs are in order. The Federal Reserve chairman
acknowledges the economy is in a recession. What actions might the federal
government and the Federal Reserve take to give the economy a boost? What are
these policies called?
2. (TCO 2) Identify and discuss the social responsibilities
of Home Depot to three different stakeholder groups.
3. (TCO 3) Discuss the positive aspects of globalization,
and contrast these with the negative aspects of globalization from the
perspective of a small business. Be sure to address the pros and cons of
outsourcing in your response.
4. (TCO 4) Identify and explain the incentives for
entrepreneurship. Address why someone would willingly take the numerous risks associated
with running a business. Also, discuss the major attributes necessary for a
successful entrepreneur.
5. (TCO 5) Aside from retail sales and marketing, identify
and discuss two ways that a business could reduce costs or increase profits by
using the Internet or web applications.
6. (TCO 8) Identify the four Ps of marketing, and give an
example how each of the four Ps
can be used to market your favorite product or service.
7. (TCO 7) Given the following companies—Boeing (airliner
manufacturer) and Dell Computer (computer manufacturer)—which facility layout
would be the most suitable for each? Justify your response. How would each
company determine the location of its facilities? List the specific needs and
requirements of each company when determining location.
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