Devry BUSN115 final exam 2014

Page 1

Question 1.1.(TCO 7) The relationship
between a PERT chart and a Gantt chart includes which of the following? (Points : 5)

A Gantt chart is used for
forecasting sales.
A PERT chart is used for
measuring progress.
They are both considered to be control procedure monitors.
Both use a critical path to
delineate the flow of materials.
A PERT network can be made up
of thousands events over many months.

Question 2.2.(TCO 7) Operations
management includes (Points : 5)

facility location but not
layout.
facility layout but not
location.
capacity planning.
holding output steady while
lowering costs.
None of the Above.

Question 3.3.(TCO 8) The era of
sustainability has entered into distribution as well as the other aspects
of marketing. Given this information, (Points
: 5)

the decision of what
distribution mode to use is less complex than first imagined.
emissions from air freight
are lower than rail shipping.
emissions from air freight
are higher than ocean shipping.
motor transportation is more
fuel efficient per ton-mile than rail.
transportation accounts for
one third of carbon dioxide emissions.

Question 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, (Points : 5)

investing in social media
hinders a company in reaching its goals.
social media needs to work
hand in hand with other channels.
social media reaches old
audiences that have new devices.
nontraditional audiences are
the new target for social media.
social media and direct mail
are complementary to one another.

Question 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. (Points : 5)

Strictly adhere to your
previous five-years business plans
Providing improved customer
service
Increasing your inventory
levels
Opening a branch store across
the street from the big box
Charging your customers for
consultation time when they ask for advice

Question 6.6.(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 7.7.(TCO 1) A technique that
combines all the promotional tools into one comprehensive, unified
promotional strategy includes _____. (Points
: 5)

The creation of a positive
brand image
Meeting the needs of
distributors
Meeting the strategic
marketing goals of your main supplier
Meeting the needs of the
indigent in your community
Meeting profit expectations
of external investors

Question 8.8.(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 9.9.(TCO 2) The Uniform
Commercial Code includes _____. (Points
: 5)

Laws that cover promissory
notes and checks
Legally enforceable
agreements between two or more parties
Bills in the form of Accounts
Payable
Laws that cover international
transactions
Invoices in the form of
Accounts Receivable

Question 10.10.(TCO 2) The change in U.S.
business from manufacturing to knowledge-based technology has created new
regulatory challenges for federal agencies. This means _____. (Points : 5)

The government’s resolve to
pursue corporate income tax evasion cases has increased
Competition is a cornerstone
of a knowledge-based economy.
Antitrust oversight has
always been the rule.
The definition of competitive
advantage has been limited
Antitrust issues will persist
in the future.

Question 11.11.(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 12.12.(TCO 3) Nations trade with
other nations because _____. (Points
: 5)

They can produce all the
products their people want and need.
Buying and selling products
is allowed by international treaty.
Sophisticated technology
allows for the improved use of natural resources.
Buying and selling products
is allowed by verbal contracts.
They are able to buy what is
needed in a mutually beneficial exchange relationship.

Question 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 result of the efforts
of this organization includes _____. (Points
: 5)

The creation of regional
alliances
Increase of tariffs worldwide
Expansion of new trade rules
to areas like agriculture
The protection of the value
of the dollar
Overcoming constraints and
decrease business opportunities

Question 14.14.(TCO 4) 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 15.15.(TCO 4) A disadvantage of a
corporation is _____. (Points
: 5)

Simplified tax returns
Simplified Record Keeping
Simplified operations in
overseas markets
Difficulty of termination
Perpetual life

age 2

Question 1.1.(TCO 5) 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 interuptions 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 2.2.(TCO 4) To look at problems
and/or passions and see opportunities in them, which of the following
questions should be asked? (Points
: 5)

Where can I find a solution?
What services would improve
society?
What products would improve
my life?
What products are least
significant?
What products would improve
all mankind?
.

Question 3.3.(TCO 5) Electronic wireless
technology continues its move toward ubiquity. Such media inculcates: (Points : 5)

National market information
International market
information
Client information
Company information
Competitor information

Question 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 world-wide-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 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. A
recommendation is: (Points : 5)

Building and improving
relationships with customers
Online advertising to get
potential customers to the website
Announcing weekly sales
promotions so customers will make a purchase
Information to competitors
and near-competitors
Website software to send “spam”
email messages

Question 5.5.(TCO 6) An element of
Planning is: (Points : 5)

Providing constructive
feedback
Determining reconstruction
needed
Promulgating financial
statements
Setting precise standards
Establishing standard
procedures

Question 6.6.(TCO 6) You have been
recently hired as the new Employee Development and Training Director at a
small utility engineering company. Your boss, the company founder as well
as President and CEO of the firm has specifically asked your assistance
in finding a way to improve creativity in his engineers through a process
called job enrichment. You have thought about this for a few days and now
feel that it is necessary to meet with your boss to present your ideas
concerning motivation and performance. One idea that you would present to
him is: (Points : 5)

The extent to which a job
demands the same skills
The degree to which the job
requires doing a task with a visible outcome from beginning to end
The The degree to which the
job has an insubstantial impact on the lives or work of others
The degree of indiscretion in
scheduling leisure time
The amount of direct and
clear information given about team goals

Question 7.7.(TCO 6) 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 8.8.(TCO 7) One development
that has changed production techniques is the integration of computers
into the design and manufacturing of products. One process that this
includes is: (Points : 5)

Process manufacturing
Intermittent process
Computer-aided design
Flexible manufacturing
Process flexible-aided design

Question 9.9.(TCO 8) The Marketing
Manager is responsible for choosing how to implement which one of the
following: (Points : 5)

Production capacity
Place
Reselection consideration
Profit
Earnings before interest and
taxes

Question 10.10.(TCO 9) Using social media
is an important component in today’s business environment. Partnering
with customers in this manner includes which one of the following:(Points : 5)

Understanding broadband
technology, such as fiber-to-the-home
Allowing network capacities
to maximize
Understanding the impact of
your telephone system
Being disingenuous to
customers
Responding to customers in a
timely manner

Question 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. One advantage of using
such software is: (Points : 5)

Multiple locations for the
information being edited and saved.
Multiple copies of the
information so back-ups are not necessary.
The software is considered
shareware and is therefore not copyrighted.
The software being considered
public domain software and free for the taking.
Multiple locations where the
information is stored provides quick access.

Question 12.12.(TCO 9) Which of the
following does NOT assist professional and managerial business
information systems: (Points : 5)

High-level tasks such as new
product design
Analyzing the organization’s
financial information
Planning relatively
short-term/tactical objectives
Identifying trends within the
industry
Transaction processing
systems to further assist with the daily flow of data

Question 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 non-warranty) 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, one of your
“must-do-first” priorities is: (Points
: 5)

Reviewing current operations
in the IT department to determine processes that can be made more
efficient.
Explore the possibilities of
providing real-time manufacturing and shipping data to your competitors.
Review the information that
is gathered by the customer relations staff that might assist in degrading
existing customer relationships.
Review the non-warranty
ordering process to deteriorate communications with suppliers.
Exploring new markets through
an improved online presence of the company.

Question 14.14.(TCO 10) Financial
accounting includes which one of the following: (Points : 5)

The preparation and
distribution of an a periodic report
A summarization of the costs
of production
The preparation of
departmental budgets
Compliance with the Financial
Accounting Standards Board (FASB) guidelines
Reviewing and evaluating the
information used to prepare a company’s financial statements

Question 15.15.(TCO 10) 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: (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

Page 3

Question 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?
(Points : 10)

Question 2. 2. (TCO
2) Identify and discuss the social responsibilities of Home Depot to three
different stakeholder groups. (Points : 15)

Question 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. (Points :
15)

Question 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. (Points : 15)

Question 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. (Points : 15)

Question 6. 6. (TCO
5) Describe the stages and consumer passes through when making a purchase
decision. Give examples of each stage. (Points : 15)

Question 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. (Points : 15)