BUSN 115 Final Exam

BUSN 115
Final Exam
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1.1. (TCO 7) Some of the characteristics of lean systems include which of
the following?
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2.2. (TCO 7) Mass customization means
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3.3. (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?
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4.4. (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
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5.5. (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.)
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6.6. 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.)
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7.7. (TCO 1) A technique that combines all the promotional tools into one
comprehensive, unified promotional strategy includes which? (Select all that
apply.)
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8.8. (TCO 2) A conscious plan that represents and encourages a unique set
of values includes which? (Select all that apply.)
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9.9. (TCO 2) The Uniform Commercial Code includes which? (Select all that
apply.)
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10.10. (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.)
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11.11. (TCO 3) Strategies for reaching global markets include which?
(Select all that apply.)
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12.12. (TCO 3) Nations rely on a number of key indicators to measure
global trade. These include which? (Select all that apply.
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13.13. (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.)
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14.14. (TCO 4) The disadvantages of sole proprietorships are which?
(Select all that apply.)
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15.15. (TCO 4) A limited liability company has which of the following
advantages? (Select all that apply.)
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1.1. (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.)
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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.)
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3.3. (TCO 5) Electronic wireless technology continues its move toward
ubiquity. Such media inculcates which of the following? (Select all that
apply.)
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4.4. (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.)
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5.5. (TCO 6) Which does a mission statement address? (Select all that
apply.)
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6.6. (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.)
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7.7. (TCO 6) Mining Group Gold is a team process that includes a method
for processing and analyzing which? (Select all that apply.)
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8.8. (TCO 7) A cellular or modular layout can accommodate changes in
design or customer demand. This includes which? (Select all that apply.)
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9.9. (TCO 8) The marketing manager is responsible for choosing how to
implement which? (Select all that apply.)
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10.10. (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.)
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11.11. (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.)
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12.12. (TCO 9) Web 3.0 can be characterized by which of the following
statements? (Select all that apply.)
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13.13. (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.)
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14.14. (TCO 10) An accounting system includes which? (Select all that
apply.)
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15.15. (TCO 10) Which of the following financial management functions are
a part of financial planning? (Select all that apply.)
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1.1. (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?
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2.2. (TCO 2) Identify and discuss the social responsibilities of Home
Depot to three different stakeholder groups.
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3.3. (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.
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4.4. (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.
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5.5. (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.
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6.6. (TCO 8) Identify the fourPs of marketing, and give an example how each
of the fourPs can be used to market
your favorite product or service.
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7.7. (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.