Devry SBE 420 All Week Quiz Latest

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Devry SBE 420 All Week Quiz Latest

Devry SBE 420 Week 2 Quiz Latest

1. 1.Question : (TCO 5) Signs are important to the small business owner because they

are a medium that is not subject to regulation, thereby permitting maximum flexibility.

provide the maximum space for relatively complex messages.

are easy to use and to change.

grow in effectiveness the longer they are in place.

Instructor Explanation: Textbook page 547

Points Received: 4 of 4

Comments:

Question 2. Question : (TCO 5) The first phase in determining where to locate a business is

determining what regions in the country have what the new business needs to succeed.

conducting an Internet search for information on the cities of choice and competitors in those cities.

determining which city has the demographics that fit the business best.

choosing to what state the business owner wants to move.

Instructor Explanation: Textbook page 519

Points Received: 0 of 4

Comments:

Question 3. Question : (TCO 3) A small business owner would conduct a competitive analysis in order to

scan the environment for weaknesses and strengths on which to capitalize.

influence customers’ perceptions of the company and products’ image.

avoid surprises from existing competitors and to identify potential new competitors.

divide the market into smaller, homogeneous units.

Instructor Explanation: Textbook page 50

Points Received: 4 of 4

Comments:

Question 4. Question : (TCO 3) A mission statement should answer which of the following questions?

What are the needs and wants of the target customers?

How will we finance our growth and expansion?

How much money will we make?

Who are our competitors?

Instructor Explanation: Textbook pages 43-44

Points Received: 4 of 4

Comments:

Question 5. Question : (TCO 1) “Copreneurs” are

business magazines targeted towards entrepreneurs.

entrepreneurial couples who work together as co-owners of their business.

personality traits of entrepreneurs.

None of the above

Instructor Explanation: Textbook page 25

Points Received: 4 of 4

Comments:

Question 6. Question : (TCO 1) Which of the following is not a common characteristic of entrepreneurs?

High energy level

Business plan expertise

Preference for moderate risk

Desire for responsibility

Question 7. Question : (TCO 3) A well-developed business plan provides the entrepreneur with a number of benefits, such as

a way to identify probable financial backers.

assisting the entrepreneur in going public with his or her new venture on the stock market.

determining the principle risks confronting the business.

a valuable tool for recruiting management to help in running the business.

Instructor Explanation: Textbook page 160

Question 8. Question : (TCO 5) The value of the floor space in a retail store depends upon

the type of store and customer.

the number of salespeople servicing the area.

its proximity to aisles and entrances.

the merchandise in that area.

Question 9. Question : (TCO 3) Strategic management is a process that involves

developing a vendor list.

developing a vision and mission statement.

developing goals and objectives.

both B and C.

Question 10. Question : (TCO 3) A small business owner needs to remember that when it comes to employee involvement in the strategic planning process,

the delegation of authority is not as important as communicating a clear vision.

involvement is a prerequisite for the achievement of total employee commitment.

his or her employees look to him or her for leadership and do not want to be involved.

employees do not need to be involved in the strategic process, but do need to be involved in the operational process.

Instructor Explanation: Textbook page 66

Devry SBE 420 Week 5 Quiz Latest

1. 1.Question : (TCO 8) Projecting financial statements via the budgeting process helps the small business owner to:

track and monitor current expenses.

measure liquidity of the firm.

transform business goals into reality.

calculate his or her return on the amount invested in the company.

Question 2. Question : (TCO 8) The first step in managing cash more effectively is:

understanding the company’s cash flow cycle.

having an adequate cash reserve for emergency expenditures.

speeding up payment of accounts receivable.

rapid payment of accounts payable.

Question 3. Question : (TCO 9) The focus of the small company’s marketing plan is:

the customer.

its product or service.

an evaluation of key competitors.

attracting capital.

Question 4. Question : (TCO 9) The primary goal of marketing research is to:

determine how to allocate distribution resources.

help management choose the appropriate promotional tool.

discover potential competitors.

reduce the risks that the company will become competitively obsolete.

Question 5. Question : (TCO 9) Tami is developing an advertising strategy for her small business. The first step in this process is to:

determine how much she can spend.

identify her target audience.

choose an advertising agency to assist her.

determine the primary purpose of the advertising.

Question 6. Question : (TCO 9) Other cost-saving suggestions for advertising expenditures include:

repeat ads that have been successful.

use of identical ads in different media.

hire independent copywriters, graphic designers, photographers, and other media specialists.

All of the above

Question 7. Question : (TCO 9) What types of products are best suited for selling on the Web?

High volume, low margin, and commodity

High volume and low margin

High volume and high margin

Commodity

Question 8. Question : (TCO 9) The key to promoting a website is networking, building relationships with other companies, customers, trade associations, ________, and other websites during your company’s customers’ visit.

shopping cart

e-mail access

online directories

All of the above

Question 9. Question : (TCO 7) When receiving investment money from friends and relatives, entrepreneurs should:

use a clear verbal contract to ensure no misunderstandings.

discuss all details of the investment up front.

not borrow more than 30% of the necessary capital from them.

only borrow from close friends and relatives who won’t cause them trouble.

Question 10. Question : (TCO 7) ________ is/are an asset-based financing technique.

Inventory financing

Floor planning

Discounted installment contracts

Installment lending

Devry SBE 420 Week 7 Quiz Latest

1. 1.Question : (TCO 6) As a solution to a company’s quality problems, managers will find that TQM:

techniques can be implemented piecemeal, one-at-a-time.

may be implemented without significant training of employees.

creates little turmoil or change in the way a company does most of its business.

takes three to four years to bring about a significant change in quality.

Question 2. Question : (TCO 6) The vendor certification process assumes:

the business owner has detailed knowledge of the vendors.

the use of a cross-functional team to conduct the evaluation.

vendors are publicly owned so information can be gathered on each of them.

all vendors are charging the same prices.

Question 3. Question : (TCO 6) Employee theft can be caused or encouraged by a number of factors including:

physical breakdowns of security.

organizational atmosphere.

improper cash controls.

All of these

Question 4. Question : (TCO 10) Miguel and Jamie are talking. Miguel keeps using baseball metaphors as he is giving instructions to Jamie. Not having any experience with baseball, Jamie is only understanding about half of what Miguel is saying. Miguel and Jamie are experiencing ineffective communication because of:

Miguel not expressing his feelings.

information overload.

ambiguity in the communication.

the conflicting verbal and nonverbal messages Jamie is giving to Miguel.

Question 5. Question : (TCO 10) A ________ outlines the duties and responsibilities associated with a job and the working conditions involved.

job description

human resource plan

job analysis

job specification

Question 6. Question : (TCO 10) While a large percentage of business founders plan to pass on their businesses, few create management succession plans because:

they don’t feel they need one because they know which child will assume management of the business.

they are reluctant to let go of the business.

they don’t know how to do it.

they can’t afford the attorneys’ and accountants’ fees.

Question 7. Question : (TCO 2) A small fireworks manufacturer that shuts its plant down permanently because the risk of fire and the resulting losses are too great, is relying on a risk ________ strategy.

transfer

avoidance

reduction

anticipation

Question 8. Question : (TCO 2) ________ covers losses from the theft or loss of computers and data, the impact of computer viruses and computer system failures, intrusion by hackers, and problems with the privacy of customer information stored in databases.

Electronic data processing (EDP) insurance

Casualty insurance

Liability insurance

Comprehensive insurance

Question 9. Question : (TCO 4) When Fred Goodman sued Wendy’s over his broken tooth due to bone fragments in his hamburger, he sued them on the basis of:

negligent manufacturing.

breach of implied warranty of merchantability.

failure to warn and negligent design.

implied warranty of fitness.

Question 10. Question : (TCO 4) There are specific requirements for insurability which include:

the risk must be within a single geographical area.

there must a pool of insurers who will accept the risk.

the risk cannot be selected.

the value of the actual loss must be possible to determine.

 

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Devry SBE 420 All Week Quiz Latest