Devry BUSN 115 Final Papers latest
Question 1.1. (TCO 1) _____ refer to a resource or capability a company must have before it can start competing in a given market. (Points : 5)
Economies of scale
Barriers to entry
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) 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 on which of the following? (Points : 5)
Making products and counseling available when consumers need them
Changing the buying behaviors of consumers
Understanding the risks of some of the products offered for sale
Doing whatever is necessary to provide credit through debit cards and credit cards
Providing open and free-flowing communication to the consumers
Question 4.4. (TCO 3) Which of the following is true about a small business? (Points : 5)
A small business is one that employs between 500 to 1000 employees.
A small business is usually funded by personal lines of credit and not through bank loans and microlenders.
A small business is one that is not dominant in its field.
A small firm usually curtails the freedom to innovate.
A small firm avoids risks that larger firms are willing to take.
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) One advantage of globalization is _____. (Points : 5)
all government regulations are eliminated
all trade barriers are eliminated
production costs are reduced because of reduced labor cost
oppressive governments benefit
Question 7.7. (TCO 3) One disadvantage of free trade is _____. (Points : 5)
domestic companies can lose their comparative advantage
uninterrupted flow of capital provides for lower interest rates
workers will be given across-the-board pay increases
a company’s productivity grows when it has an absolute advantage
domestic workers can be trained for additional jobs
Question 8.8. (TCO 3) Advantages of a Limited Liability Corporation (LLC) include all of the following EXCEPT (Points : 5)
unrestricted member participation in management.
pass-through taxation benefits of a partnership.
advantages of limited liability.
limited number of shareholders.
Question 9.9. (TCO 2) There have been reports of cell phone service sales representatives who actually lie to get customers to extend their contracts, or even extend their contracts without the customers’ knowledge. Some phone reps intentionally hang up on callers to prevent them from canceling their contracts. Why do these sales reps sometimes resort to overly aggressive tactics? (Points : 5)
Excellently designed incentive programs reward them tax free.
Salaries can be reduced by half in such instances.
Their managers say, “Deceive the customers.”
Overly ambitious goals and incentives create an environment in which people can learn and grow.
Overly ambitious goals and incentives create an environment in which unethical actions are tolerated.
Question 10.10. (TCO 3) What is a key feature of intrapreneurship? (Points : 5)
It encourages sticking with the accepted wisdom.
It is often found in companies that are rigid and structured.
Steps are never needed to encourage, protect, and reward intrepreneurship.
It can be risky behavior that may not be rewarded.
Question 11.11. (TCO 4) Consumers have needs for living and wants, which are desires and to know them helps businesses to meet market demands. From the following list, identify which combination is just needs, or just wants. (Points : 5)
Food and Big Mac
Motorcycle and car
Shelter and condo
Water and Coca-Cola
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) Successfully distributing goods to customers involves low cost and customer satisfaction. Several steps must take place in order to reach this goal. Which step need NOT be considered in the physical distribution of goods? (Points : 5)
Question 14.14. (TCO 5) 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’ to increase customer satisfaction and customer loyalty. Part of cultural competency is not only understanding different languages, but also understanding: (Points : 5)
Similar food selections
Looking others in the eye when speaking to them
How much money people make
How tall people are when compared to others
How people wish to be addressed
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) What are the three interrelated reports required by law for all publically traded companies that act as vital management tools for all companies, big and small? (Points : 5)
Ledger, operating budget, balance sheet
Journal, adjusted trial balance, income statement
Balance sheet, income statement, statement of cash flows
Expense report, balance sheet, capital budget
Question 1. 1. (TCO 1) Describe the six major functional areas in a business enterprise. (Points : 25)
Question 2. 2. (TCO 2) 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. (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. (TCO 4) 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. (Points : 25)
Question 5. 5. (TCO 5) Discuss the advantages and disadvantages of work specialization. (Points : 25)
Question 6. 6. (TCO 6) 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.(Points : 25)
Question 7. 7. (TCO 7) Describe double-entry bookkeeping and the matching principle. (Points : 25)
Devry BUSN 115 Final Papers latest