BUSN 115 Final Exam Set 2
This Tutorial was purchased 3 times & rated A+ by student like you.
This Tutorial contains following Attachments
- BUSN 115 Final Exam Guide 2.docx
1. (TCO 1) A(n) _____ is a framework of how a business intends to generate revenue. (Points : 5)
strategic management tool
Question 2.2. (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? (Points : 5)
Foreign business leaders
Domestic business leaders
Question 3.3. (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? (Points : 5)
Current local council actions
Local school board policies
Collecting and remitting sales and use taxes
Training for what you don’t know how to do
Question 4.4. (TCO 3) A small business is defined as a company that _____. (Points : 5)
is newly launched and has fewer than 100 shareholders
is dominant in its field and employs fewer than 1,500 employees
has a revenue of less than $750,000
is independently owned and operated and not dominant in its field
is funded through personal lines of credit and has fewer than 1,000 employees
Question 5.5. (TCO 1) You own Wash This Way Laundromat in a busy part of town. ABC Laundry, a chain store competitor, opened across the street in a busy shopping strip. You decide to improve your business by adding an internet café offering free Wi-Fi. Why? (Points : 5)
To promote private ownership of businesses
To improve quality of life
To exceed customer expectations
To expand your market
Question 6.6. (TCO 2) These are government policies aimed at shielding a country's industries from foreign competition. (Points : 5)
Question 7.7. (TCO 3) One advantage of offshore outsourcing is _____. (Points : 5)
less strategic tasks can be sourced so that companies can focus on sales and marketing
communication among company members, suppliers, and customers is problematic.
outsourced work allows companies to create efficiencies that in fact let them fire more workers
consumers benefit from lower prices generated by effective use of global resources and developing nations
offshore outsourcing may reduce product quality and can therefore cause damage to a company’s reputation
Question 8.8. (TCO 3) The reason(s) a company pursues a strategic alliance is to _____. (Points : 5)
enhance the ability to expand internationally
gain access to new technologies and know-how
increase credibility or brand awareness
All of the above
Question 9.9. (TCO 2) It can be difficult to balance ethics and other goals, such as pleasing stakeholders or adva
ncing your career. According to management writer Ken Blanchard and religious leader Norman Vincent Peale, it helps to ask oneself which one of the following questions when facing an ethical dilemma? (Points : 5)
How will this course of action be evaluated by others?
Is my proposed action legally defensible?
Is this course of action based on principle?
Is this course of action based on the truth?
How will this course of action make me feel about myself?
Question 10.10. (TCO 3) Starting your own business (Points : 5)
is an alternative to unemployment.
is not risky.
allows others to control your future.
is not difficult and does not require sacrifice.
Question 11.11. (TCO 4) Which of the following pairs represent an advantage and a disadvantage of marketing to a mobile phone rather than a fixed computer? (Points : 5)
Mobile phone users are accustomed to advertising interruptions while fixed computers have limited links to retailer websites.
The mobile phone is operating most of the time, but the interactivity is less than a fixed computer.
The screen size of fixed computers is larger, but screen enlargement overcomes that limitation in mobile phones.
Fixed computers can provide advertising based on where you happen to be while mobile phone advertisements are limited to product categories.
Question 12.12. (TCO 4) The rapid spread of brand communities has been one of the major impacts of social media. The Harley Davidson Owners Group is one example of an informal network of people with similar interests who use social media to bond and share information. Why are these brand communities effective? (Points : 5)
The cost of consumer-oriented publications is too expensive.
Consumers now trust their peers more than any source for product information.
Consumers no longer trust salespeople.
State and local consumer protection agencies no longer review products.
Question 13.13. (TCO 4) The marketing mix refers to (Points : 5)
product, distribution, coupons, and place.
product, demographics, price, and distribution.
product, price, place, and promotion.
price, product, elasticity, and promotion.
Question 14.14. (TCO 5) The steps to Mining Group Gold include (Points : 5)
defining the behavioral parameters of a unique subset of cultures.
establishing a zone of proximal development.
setting expectations for reasonableness of the ideas presented.
establishing clear and concise expectations of factual information.
conducting a series of time-checks throughout the meeting.
Question 15.15. (TCO 6) Some of the characteristics of lean systems include which of the following? (Points : 5)
They take twice the human effort.
They have the same defects in the finished product.
They require half of the engineering effort.
They use half the floor space for the same output.
They carry 50% more inventory.
Question 16.16. (TCO 7) A common reason that companies fail is (Points : 5)
an excellent control of cash flow.
a lack of adequate sales revenue.
an inadequate control of expenses.
an inadequate managerial expertise.
Question 17.17. (TCO 7) 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. A suggestion that you would make to help improve the financial position of the hospital and correct the financial problems is to (Points : 5)
improve the efficiency of the hospital’s cash management system.
use a carefully planned lawn care service.
continue the hospital’s large stockpile of drugs.
cease using a just-in-time inventory system.
use a carelessly planned inventory control system.
CO 1) What type of economic system lies between capitalism and communism? Explain why it is more effective than other economic systems. (Points : 25)
Question 2.2. (TCO 2) Compare and contrast strategic alliances with joint ventures. (Points : 25)
Question 3.3. (TCO 3) 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. (Points : 25)
Question 4.4. (TCO4) Define marketing. Compare and contrast place marketing with cause-related marketing.
(Points : 25)
Question 5.5. (TCO 5) Define the five major types of organization structure. (Points : 25)
Question 6.6. (TCO 6) Businesses try to create systems that deliver goods or services to customers as efficiently as possible. This often involves multiple steps and systems that hopefully work together to accomplish that goal. Explain the systems perspective, and identify at least five principles of systems thinking that can improve your skills as a manager. (Points : 25)
7. (TCO 7) What is a balance sheet? Why is it called a balance sheet? (Points : 25)
Write a reviewOrder Id
Order Id will be kept Confidential
Rating: A B C D F
Enter the code in the box below:
Question 1. Question : (TCO 5) A company whose structure, policies, and capabilities allow employees to respond quickly to customer needs and changes in the business environment..
Question 1. Question : (TCO 3) A small business is defined as a company that _____. is newly launched and has fewer than 100 shareholders is domi..
Question 1. Question : (TCO 1) _____ is money that an organization brings in through the sale of its goods and services. Profit Revenue Sales ..
This tutorial contains 2 Papers/Tutorial Background In part II of this assignment, we continue to outline various business aspects of our lemonade stand. A..
This tutorial contains 2 Different Papers Background As you have read about in our lecture, we have used a lemonade stand to help us understand so..
BUSN 115 Week 1 DQ 1 Laws and Regulations BUSN 115 Week 1 DQ 2 Entrepreneurship Failure BUSN 115 Week 2 DQ 1 Global Markets BUSN 115 Week  ..
Financial Control The company you cofounded last year is growing rapidly and has strong prospects for an IPO in the next year or two. The additional capital..
Accounting Firm The senior partner of an accounting firm is looking for ways to increase the firm’s business. What other services besides traditional accounting can&n..
Technology Improvement Business is stalled. Sales last month were 10 percent less than the previous month and so far this month is looking even worse than last&nb..
Supply-Chain Management How can supply-chain management (SCM) help a company establish a competitive advantage? What are ways that companies can improve their supply chain..
Benefit Choices When you begin interviewing as you approach graduation, you will need to analyze job offers that include a number of financial and nonfinancial e..
Motivation Theories Chapter 7 discusses several styles of leadership, including autocratic, democratic, and laissez-faire. How do each of these styles relate to Theory X and&nbs..
Advertising Think about an advertisement (in any medium) that had either a strongly positive or strongly negative effect on your attitude toward the product being&nbs..
Purchasing Process Think of a product you recently purchased and review your decision process. Why did you need or want that product? How did the product’s market..
Early Adopters Do you consider yourself an early adopter when it comes to trying out new products or new fashions, or do you tend to take a wait-and-se..
Starting a Business What are the advantages of buying a business rather than starting one from scratch? What are the advantages and disadvantages of owning a&nbs..
Corporate Social Responsibility (CSR) Is it ethical for companies to benefit from their efforts to practice corporate social responsibility? Why or why not? How can an..
Global Markets How can a company use licensing agreements to enter world markets? What two fundamental product strategies do companies choose between when selling their&nbs..
The risk of failure is an inherent part of free enterprise. Does society have an obligation to come to the aid of entrepreneurs who try but fail? Why or ..
Laws and Regulations Do laws and regulations always restrict or impede the efforts of business professionals, or can they actually help businesses? In addition..
1. (TCO 1) Describe the six major functional areas in a business enterprise. (Points : 25) Question 2.2. (TCO 2) Identify and discuss the social responsibilities of Hom..
1. (TCO 1) A(n) _____ is a framework of how a business intends to generate revenue. (Points : 5) business model &nbs..
Question 1.1. (TCO 7) Some of the characteristics of lean systems include which of the following? (Points : 5) They take twice the huma..
Question 1.1. (TCO 7) Some of the characteristics of lean systems include which of the following? (Points : 5) Question 2.2. (TCO 7) Mass customization means ..