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BUSN 115 Final Exam (All 3 Sets)

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www.tutorialrank.com 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 (Points : 5) Question 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? (Points : 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) 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. (Select all that apply.) (Points : 5)

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

Question 8.8. (TCO 2) A conscious plan that represents and encourages a unique set of values includes which? (Select all that apply.) (Points : 5) Question 9.9. (TCO 2) The Uniform Commercial Code includes which? (Select all that apply.) (Points : 5)

Question 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.) (Points : 5) Question 11.11. (TCO 3) Strategies for reaching global markets include which? (Select all that apply.) (Points : 5)

Question 12.12. (TCO 3) Nations rely on a number of key indicators to measure global trade. These include which? (Select all that apply.) (Points : 5) 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 results of the efforts of this organization include which? (Select all that apply.) (Points : 5)


Question 14.14. (TCO 4) The disadvantages of sole proprietorships are which? (Select all that apply.) (Points : 5) ion 15.15. (TCO 4) A limited liability company has which of the following advantages? (Select all that apply.) (Points : 5) Limited liability Choice of taxation Flexible ownership rules Self-employment taxes Fewer incentives Page 2 Question 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.) (Points : 5)

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? (Select all that apply.) (Points : 5) Question 3.3. (TCO 5) Electronic wireless technology continues its move toward ubiquity. Such media inculcates which of the following? (Select all that apply.) (Points : 5)


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 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.) (Points : 5) Question 5.5. (TCO 6) Which does a mission statement address? (Select all that apply.) (Points : 5) Question 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.) (Points : 5)

Question 7.7. (TCO 6) Mining Group Gold is a team process that includes a method for processing and analyzing which? (Select all that apply.) (Points : 5)


Question 8.8. (TCO 7) A cellular or modular layout can accommodate changes in design or customer demand. This includes which? (Select all that apply.) (Points : 5) Question 9.9. (TCO 8) The marketing manager is responsible for choosing how to implement which? (Select all that apply.) (Points : 5) Question 10.10. (TCO 9) Technology can provide significant increases in productivity and efficiency. However, less than stable technologybased 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.) (Points : 5) 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. The advantage of using such software is which? (Select all that apply.) (Points : 5) Question 12.12. (TCO 9) Web 3.0 can be characterized by which of the following statements? (Select all that apply.) (Points : 5) 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 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.) (Points : 5)


Question 14.14. (TCO 10) An accounting system includes which? (Select all that apply.) (Points : 5)

Question 15.15. (TCO 10) Which of the following financial management functions are a part of financial planning? (Select all that apply.) (Points : 5)

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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 8) 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 : 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)

Set 2

(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 their facilities? List the specific needs and requirements of each company when determining location.

19.99

1. (TCO 1) A(n) _____ is a framework of how a business intends to generate revenue. (Points : 5)

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)

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)

Question 4.4. (TCO 3) A small business is defined as a company that _____. (Points : 5)

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 cafĂŠ offering free Wi-Fi. Why? (Points : 5) Question 6.6. (TCO 2) These are government policies aimed at shielding a country's industries from foreign competition. (Points : 5) 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) Question 10.10. (TCO 3) Starting your own business (Points : 5) 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)


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)

Question 13.13. (TCO 4) The marketing mix refers to (Points : 5)

Question 14.14. (TCO 5) The steps to Mining Group Gold include (Points : 5)

Question 15.15. (TCO 6) Some of the characteristics of lean systems include which of the following? (Points : 5) Question 16.16. (TCO 7) A common reason that companies fail is (Points : 5)

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)

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)

Question 7.

7. (TCO 7) What is a balance sheet? Why is it called a balance sheet? (Points : 25) 19.99

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 Home Depot to three different stakeholder groups. (Points : 25)

Home Depot is one of the world's biggest home improvement retailers in the United States, Canada, and Puerto Rico. Home Depot stores strive to serve both the professional contractors as well as the casual home repairers.

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 Question 4.4. (TCO 4) Describe the stages a consumer passes through when making a purchase decision. Give examples of each stage. (Points : 25)

Stage 1. Question 5.5. (TCO 5) Compare and contrast Theory X with Theory Y. (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) Question 7.7. (TCO 7) Describe double-entry bookkeeping and the matching principle. (Points : 25)


Set 3

1. (TCO 1) _____ refer to a resource or capability a company must have before it can start competing in a given market. (Points : 5)

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)

Question 3.3. (TCO 1) Home-based entrepreneurs should focus on _____. (Points : 5)

Question 4.4. (TCO 3) Which of the following is an example of a lifestyle business? (Points : 5) Question 5.5. (TCO 1) Performing a SWOT analysis is part of the _____. (Points : 5) Question 6.6. (TCO 2) One advantage of globalization is _____. (Points : 5)

Question 7.7. (TCO 3) A strategy for reaching a global market is ¬¬¬_____. (Points : 5)

Question 8.8. (TCO 3) The reason(s) a company pursues a strategic alliance is to _____. (Points : 5)


Question 9.9. (TCO 2) _____ are long-term partnerships between two or more companies to jointly develop, produce, or sell products. (Points : 5) Question 10.10. (TCO 3) Entrepreneurship has become the new way of doing business in our world. With economies in decline and organizations downsizing and the lack of opportunities that satisfy, entrepreneurship has been born. Entrepreneurship involves (Points : 5) 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) 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) 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) The steps to Mining Group Gold include (Points : 5) Question 15.15. (TCO 6) Production and operations management is best described by which of the following? (Points : 5) Question 16.16. (TCO 7) A common reason that companies fail is (Points : 5) 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) ==============================================


BUSN 115 Final Exam Set 1

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www.tutorialrank.com Question 1.1. (TCO 7) 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 2.2. (TCO 7) Mass customization means (Points : 5) tailoring products to meet the needs of a large number of individual customers. fewer and fewer manufacturers are learning to customize their products.


manufacturing companies may become service companies over time. more and more manufacturers are learning to customize their products. operations management concepts are not applicable to the service sector.

Question 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? (Points : 5) Pipeline transmission Air transportation Truck transportation Ship transportation Train transportation 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. (Select all that apply.) (Points : 5) Quickly adapting to the market Providing improved customer service Increasing your inventory levels Opening a branch store across the street from the big box Providing free expert advice and consultation to your customers Question 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.) (Points : 5) Undercapitalization Competitors and competition Government control Collecting and remitting sales and use taxes Training for what you don’t know how to do


Question 7.7. (TCO 1) A technique that combines all the promotional tools into one comprehensive, unified promotional strategy includes which? (Select all that apply.) (Points : 5) The creation of a positive brand image Meeting the needs of the consumer Meeting the strategic marketing goals of the firm Meeting the promotional goals of the firm Meeting profit expectations of external investors The real answer that incorporates all these elements is called “Integrated Marketing Communications�. Question 8.8. (TCO 2) A conscious plan that represents and encourages a unique set of values includes which? (Select all that apply.) (Points : 5) Our elected representatives Our communities Our competitors Our employees Our customers

Question 9.9. (TCO 2) The Uniform Commercial Code includes which? (Select all that apply.) (Points : 5)


Laws that cover promissory notes and checks Legally enforceable agreements between two or more parties

Bills of Lading

Something of value

Forms of commercial paper

Question 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.) (Points : 5)

Consumers and investors have called for increased government regulation in the financial sector.


U.S. businesses will need to work with government to create a competitive environment that is fair.

Future financial crises will not be as severe as previous ones.

Businesses won’t have to worry with future healthcare insurance regulations.

Global competition will steadily decline over time.

Question 11.11. (TCO 3) Strategies for reaching global markets include which? (Select all that apply.) (Points : 5)

Licensing

Importing


Direct marketing

Franchising

Contract manufacturing

Question 12.12. (TCO 3) Nations rely on a number of key indicators to measure global trade. These include which? (Select all that apply.) (Points : 5)

The total value of a nation’s exports compared to its imports measured over a particular period

The total value of a nation’s imports compared to its gross domestic product over a particular period

The total value of a nation’s exports compared to the value of the International Monetary Fund


The difference between money coming into a country and money leaving the country

The difference between money leaving the country and its imports measured over a particular period

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 results of the efforts of this organization include which? (Select all that apply.) (Points : 5)

The creation of regional alliances

Reduction of tariffs an average of 38% worldwide

Expansion of new trade rules to areas like agriculture


The protection of patents

Overcoming constraints and decrease business opportunities

Question 14.14. (TCO 4) The disadvantages of sole proprietorships are which? (Select all that apply.) (Points : 5)

Risk of personal success

Risk of personal loss

Unlimited financial resources

Few or no fringe benefits

Unlimited life span


Question 15.15. (TCO 4) A limited liability company has which of the following advantages? (Select all that apply.) (Points : 5)

Limited liability

Choice of taxation

Flexible ownership rules

Self-employment taxes

Fewer incentives


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Question 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.) (Points : 5)

Migrating to the mobile medium shouldn’t be a problem.

Making the leap from laptop to touchscreen is an option at this stage of your efforts.


Social media is one option to enter the mobile market.

Using a service such as a mobile commerce platform is an option.

Economists estimate that as much as 51% of the total consumer spending may go through social networking sites.

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? (Select all that apply.) (Points : 5)

What do I want but can never find?

What services would improve society?

What products would improve my life?


What irritates me, and what product would help?

What products would improve all mankind?

Question 3.3. (TCO 5) Electronic wireless technology continues its move toward ubiquity. Such media inculcates which of the following? (Select all that apply.) (Points : 5)

Sweepstakes promotional information

News and sports 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 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.) (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


Infomercials provided via video streaming to the Web

Printable discount coupons printed right from the website

Question 5.5. (TCO 6) Which does a mission statement address? (Select all that apply.) (Points : 5)

A company’s organizational philosophy

A company’s organizational psychology

A company’s organizational efficacy

A company’s organizational phenomenology

A company’s organizational social responsibility


Question 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.) (Points : 5)

Water use

Recyclables

Waste

Greenhouse gases


Information technology

Question 7.7. (TCO 6) Mining Group Gold is a team process that includes a method for processing and analyzing which? (Select all that apply.) (Points : 5)

Feelings

Facts

Solutions

Falsities

Paradoxes


Question 8.8. (TCO 7) A cellular or modular layout can accommodate changes in design or customer demand. This includes which? (Select all that apply.) (Points : 5)

Not necessarily a strictly linear approach

Scheduling work operations

Different customers with similar needs

One station in the factory sending completed items to two or more next stations

Processes that are used to produce large quantities of a few types of products


Question 9.9. (TCO 8) The marketing manager is responsible for choosing how to implement which? (Select all that apply.) (Points : 5)

Product

Place

Promotion

Profit

Price

Question 10.10. (TCO 9) Technology can provide significant increases in productivity and efficiency. However, less than stable technologybased 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.) (Points : 5)

Overly complex software

Loss of client and customer confidence

Decrease in sales revenue

Interruption of shipments

Overly complex networking equipment

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. The advantage of using such software is which? (Select all that apply.) (Points : 5)


A single location for the information being edited and saved

Multiple copies of the information so backups are not necessary

The software being considered shareware and therefore not copyrighted

The software being considered public domain software and free for the taking

Multiple locations where the information is stored providing quick access

Question 12.12. (TCO 9) Web 3.0 can be characterized by which of the following statements? (Select all that apply.) (Points : 5)

It is known as the semantic web.


It is known as the virtual world.

It is known as the mobile web.

It is known as the static web.

It is known as the immersive Internet.

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 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.) (Points : 5)


Reviewing current operations in the IT department to determine processes that can be made more efficient.

Exploring the possibilities of providing real-time manufacturing and shipping data to the expediters in the factory via handheld wireless devices.

Reviewing the information that is gathered by the customer relations staff that might assist in improving existing customer relationships.

Reviewing the ordering process (both warranty and nonwarranty) to streamline ordering and improve communications with suppliers and customers.

Exploring new markets through an improved online presence of the company.

Question 14.14. (TCO 10) An accounting system includes which? (Select all that apply.) (Points : 5)


Tax return information

Balance sheet information

Summarization of accounts information

Compliance information

Eleemosynary information

Question 15.15. (TCO 10) Which of the following financial management functions are a part of financial planning? (Select all that apply.) (Points : 5)

Understanding and allocating operational needs


Establishing a capital budget

Creating a long-term forecast

Establishing a strategic planning vision

Creating a short-term forecast

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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 8) 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 : 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)


(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 their facilities? List the specific needs and requirements of each company when determining location. ==============================================

BUSN 115 Final Exam Set 2

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1. (TCO 1) A(n) _____ is a framework of how a business intends to generate revenue. (Points : 5) business model strategic management tool profitability analysis competitive advantage entrepreneurial mindset

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) Bankers Government employees Surrounding/competing businesses 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 Government control 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 cafĂŠ 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) Tariffs Free-market capitalism Protectionism Import quotas

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) underspecialization. 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)

Question 7. 7. (TCO 7) What is a balance sheet? Why is it called a balance sheet? (Points : 25)

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BUSN 115 Final Exam Set 3

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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 Home Depot to three different stakeholder groups. (Points : 25) Home Depot is one of the world's biggest home improvement retailers in the United States, Canada, and Puerto Rico. Home Depot stores strive to serve both the professional contractors as well as the casual home repairers.

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 Question 4.4. (TCO 4) Describe the stages a consumer passes through when making a purchase decision. Give examples of each stage. (Points : 25)

Stage 1. Question 5.5. (TCO 5) Compare and contrast Theory X with Theory Y. (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)


Question 7.7. (TCO 7) Describe double-entry bookkeeping and the matching principle. (Points : 25)

1. (TCO 1) _____ refer to a resource or capability a company must have before it can start competing in a given market. (Points : 5) Assets

Economies of scale Barriers to entry Technological requirements Fixed costs

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) Bankers Government employees Surrounding/competing businesses Foreign business leaders


Domestic business leaders

Question 3.3. (TCO 1) Home-based entrepreneurs should focus on _____. (Points : 5)

seeking a short-term payoff

creating a long-term vision

accepting security

getting a line-of-credit from a foreign bank

understanding financial ratios on their balance sheet

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BUSN 115 Week 1 DQ 1 Laws and Regulations


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www.tutorialrank.com Do laws and regulations always restrict or impede the efforts of business professionals, or can they actually help businesses? In addition to this, could you list some examples of laws or regulations that may have impeded business lately? ==============================================

BUSN 115 Week 1 DQ 2 Entrepreneurship Failure

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www.tutorialrank.com 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 why not? Also, please discuss some ways you can minimize your risk. Entrepreneurship Failure ==============================================


BUSN 115 Week 1-7 All DQs

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www.tutorialrank.com 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 2 DQ 2 Corporate Social Responsibility (CSR) BUSN 115 Week 3 DQ 1 Starting a Business BUSN 115 Week 3 DQ 2 Early Adopters BUSN 115 Week 4 DQ 1 Purchasing Process BUSN 115 Week 4 DQ 2 Advertising BUSN 115 Week 5 DQ 1 Motivation Theories BUSN 115 Week 5 DQ 2 Benefit Choices BUSN 115 Week 6 DQ 1 Supply-Chain Management BUSN 115 Week 6 DQ 2 Technology Improvement BUSN 115 Week 7 DQ 1 Accounting Firm BUSN 115 Week 7 DQ 2 Financial Control


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 some basic concepts of business. As we pointed out, a lemonade stand has a simple business structure; yet, it can help us understand almost every function of a firm; such as marketing, operations, finance, technology, entrepreneurship and many other aspects. In our two assignments in this course, you will own and operate your very own lemonade stand as you apply the knowledge you have learned from the course. Scenario

You have decided to open a lemonade stand in your local neighborhood. You have grand plans for this stand and expect to attract many customers. In part I of this assignment, you will develop the basic premise of your new company. Please answer the following questions, utilizing the textbook, to ensure you apply the lesson we have learned in the previous weeks.

Develop a creative name for your Lemonade Stand, and then explain why a name is important when you are considering branding options?


Create a Mission Statement for your Lemonade Stand (Chapter 7); then explain why a mission statement is important for any company?

You are very involved in your community; please outline your CSR plan (Chapter 4) for your business.

The textbook lists many different types of pricing strategies, please pick one of these and explain how you will deliver on this strategy with your stand. (Chapter 14)

Even though you only sell to local customers, you understand that you could package your lemonade and sell it online globally. Evaluate whether or not the company should go global by creating an online presence and selling your lemonade online (Chapter 3). Activity

You are to write roughly 500 words in answering all questions posted above for your Lemonade Stand. (Please note: you may list the questions in your paper and answer these in a step by step process, but the word count will only apply to your written words). The paper needs to be written in an APA format and should have at least your textbook listed as a scholarly source in your bibliography. Please view the APA tutorial in your syllabus for more on how to format your paper. Your paper should include a cover page and running header as stipulated by APA formatting.


This paper will be evaluated on how you apply the concepts that are detailed in the textbook to a practical idea. In order to receive the highest grade, it is encouraged that you review the textbook and cite specific area of the text in your responses (taking care in citing these properly). Additionally, while this is not an English class, grammar will account for a portion of your paper. Please take care in writing a well develop response.

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BUSN 115 Week 2 DQ 1 Global Markets

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www.tutorialrank.com 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 products in the global marketplace? ==============================================


BUSN 115 Week 2 DQ 2 Corporate Social Responsibility (CSR)

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www.tutorialrank.com 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 anyone be sure that CSR efforts aren’t just public relations ploys? ==============================================

BUSN 115 Week 2 Quiz

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www.tutorialrank.com Question 1. Question : (TCO 1) _____ is money that an organization brings in through the sale of its goods and services. Profit Revenue


Sales Capital investment Finance

Question 2. Question : (TCO 1) Which of the following statements is true regarding business mindset?

It involves seeing the business from the outside in. It is incompatible with corporate responsibility.

It involves appreciating the challenges a company faces in satisfying customer needs. It involves acknowledging that businesses always benefit society. It involves ignoring one's customer experiences. Question 3. Question : (TCO 1) _____ audit the financial reports of public companies as required by law.

Internal accountants External auditors Credit managers Management accountants


Question 4. Question : (TCO 1) Which of the following is a characteristic feature of economic contraction? Decreased unemployment rates Decreased consumer spending Increased income Increased employment

Question 5. Question : (TCO 1) Inflation is a major concern for consumers, businesses, and government leaders, because it _____.

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BUSN 115 Week 3 Assignment LEMONADE STAND, PART I (2 Papers)

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www.tutorialrank.com Background


As you have read about in our lecture, we have used a lemonade stand to help us understand some basic concepts of business. As we pointed out, a lemonade stand has a simple business structure; yet, it can help us understand almost every function of a firm; such as marketing, operations, finance, technology, entrepreneurship and many other aspects. In our two assignments in this course, you will own and operate your very own lemonade stand as you apply the knowledge you have learned from the course.

Scenario You have decided to open a lemonade stand in your local neighborhood. You have grand plans for this stand and expect to attract many customers. In part I of this assignment, you will develop the basic premise of your new company. Please answer the following questions, utilizing the textbook, to ensure you apply the lesson we have learned in the previous weeks. Develop a creative name for your Lemonade Stand, and then explain why a name is important when you are considering branding options?

Create a Mission Statement for your Lemonade Stand (Chapter 7); then explain why a mission statement is important for any company? You are very involved in your community; please outline your CSR plan (Chapter 4) for your business. The textbook lists many different types of pricing strategies, please pick one of these and explain how you will deliver on this strategy with your stand. (Chapter 14)


Even though you only sell to local customers, you understand that you could package your lemonade and sell it online globally. Evaluate whether or not the company should go global by creating an online presence and selling your lemonade online (Chapter 3).

Activity

You are to write roughly 500 words in answering all questions posted above for your Lemonade Stand. (Please note: you may list the questions in your paper and answer these in a step by step process, but the word count will only apply to your written words). The paper needs to be written in an APA format and should have at least your textbook listed as a scholarly source in your bibliography. Please view the APA tutorial in your syllabus for more on how to format your paper. Your paper should include a cover page and running header as stipulated by APA formatting. This paper will be evaluated on how you apply the concepts that are detailed in the textbook to a practical idea. In order to receive the highest grade, it is encouraged that you review the textbook and cite specific area of the text in your responses (taking care in citing these properly). Additionally, while this is not an English class, grammar will account for a portion of your paper. Please take care in writing a well develop response. ==============================================

BUSN 115 Week 3 DQ 1 Starting a Business


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www.tutorialrank.com 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 franchise? ==============================================

BUSN 115 Week 3 DQ 2 Early Adopters

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www.tutorialrank.com 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-see attitude? How does your attitude toward new products and new ideas influence your decision making as a consumer? ==============================================


BUSN 115 Week 4 DQ 1 Purchasing Process

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www.tutorialrank.com 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 marketing influence your purchase decision? How did you investigate the product before making your purchase decision? Did you experience cognitive dissonance after your decision? ==============================================

BUSN 115 Week 4 DQ 2 Advertising

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www.tutorialrank.com 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 advertised or the advertiser itself. Why did the ad have this effect? If you responded positively to the ad, do you think you were being manipulated in any way? If you responded negatively—and you are a potential buyer of the product that was advertised—what changes would you make to the ad to make it more successful? ==============================================

BUSN 115 Week 4 Quiz

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www.tutorialrank.com uestion 1. Question : a company that _____.

(TCO 3) A small business is defined as

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 2. Question : (TCO 3) One of the general characteristics of a small business is that it typically sells fewer products _____.

to a larger customer base

to fewer market segments

to foreign companies at lower costs to government agencies

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BUSN 115 Week 5 Assignment LEMONADE STAND, PART II (2 Papers)

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www.tutorialrank.com This tutorial contains 2 Papers/Tutorial Background In part II of this assignment, we continue to outline various business aspects of our lemonade stand. As you continue to learn new concepts in this course, you have seen how a lemonade stand can help us understand and apply these concepts. In Part II of your lemonade stand we will incorporate concepts from previous weeks and apply these to your newly created company. Scenario In week 3, you created a lemonade stand that you opened in your local neighborhood; you created a name, developed a mission statement, outlined a CSR plan, and picked a pricing strategy for this new company. This week you will continue to develop your idea by writing an informal business report that will share your plans with a potential business investor. A report template is available in Doc Sharing to guide you through formatting of this assignment; however, the main prompts you should address in the report include: - Branding strategy. In Part I, you decided part of the brand when you developed your pricing strategy. Continue with the other parts of the marketing mix (Place, Promotion, and Product), and discuss how the lemonade stand should be branded utilizing this marketing mix (Chapter 14). Opportunities for new locations. Your stand in your neighborhood has been very successful and you are considering expanding operations. In doing so, you will need to outline some criteria for potential new locations (Chapter 15). - Promotion plans. You have a $ 10,000 budget to promote your stand in the local community. Please outline two or three ways you could promote this business (please include costs involved in these promotions) (Chapter 16). - Employee Training. You have hired several people to run your lemonade stand, as you simply are too involved in the strategic aspects of the business. As such, you have seen sales drop. What are some ways you can motivate your employees to improve sales? (Chapter 10) Activity Once you have considered the points above, please provide responses and explanations using the template provided in Doc Sharing (titled “Lemonade Stand Informal


Business Report�). Utilize your textbook and apply the lessons we have learned in previous weeks to develop and support your plans. By offering support and developing your response, you must provide examples, elaboration, or justification, often in the form of information gathered from your textbook. When integrating support from your textbook, be sure to use APA style to provide in-text citations within the paragraph and a full end reference on a separate Reference Page after the Business Plan. Examples of APA formatting are included in the template. You are to write roughly 500 - 750 words in answering all points posted above for your Lemonade Stand. This informal business report will be evaluated on how well you apply the concepts that are detailed in the textbook to a practical idea. In order to receive the highest grade, it is required that you review the textbook and cite specific areas of the text in your responses (taking care in citing these properly in APA style). Additionally, while this is not an English class and while the content of your ideas is most important, grammar and sentence structure will account for a portion of your report grade. Please be sure to write well-developed responses in complete sentence and paragraph format. Note: For this assignment and other college writing assignments, please note that when you reference or cite a text, if you use words that are directly from a source, they must be in quotations and cited. If you are just referencing them and have changed the words, a citation is still required. One final point, when writing anything in college, you must adhere to the 80/20 rule: 80% of the papers should be in your own words, while 20% make up any citations you may add. Violation of this rule could result in a zero for the assignment. ==============================================

BUSN 115 Week 5 DQ 1 Motivation Theories


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www.tutorialrank.com 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 Theory Y assumptions about workers? ==============================================

BUSN 115 Week 5 DQ 2 Benefit Choices

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www.tutorialrank.com 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 elements. Which of these aspects of employment are your top three priorities: a good base wage; bonus or commission opportunities, profit-sharing potential; rapid advancement opportunities; flexible work arrangements; good healthcare insurance coverage; or a strong retirement program? Which of these elements would you be willing to forego in order to get your top three?


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BUSN 115 Week 6 DQ 1 Supply-Chain Management

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www.tutorialrank.com 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 chains?

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BUSN 115 Week 6 DQ 2 Technology Improvement

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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 month. Could technology help you answer the decrease in sales? What technologies could you deploy to increase sales? ==============================================

BUSN 115 Week 6 Quiz

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www.tutorialrank.com 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 is termed as a(n) _____.

Student Answer: hyperspecialized organization

formal organization

agile organization


umbrella organization mechanistic organization Question 2. Question : (TCO 5) Which of the following chain-of-command systems was developed to address the need to combine specialization with management control?

Line organization Line-and-staff organization Agile organization Formal organization ==============================================

BUSN 115 Week 7 DQ 1 Accounting Firm

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The senior partner of an accounting firm is looking for ways to increase the firm’s business. What other services besides traditional accounting can the firm offer to its clients? What new challenges might this additional work create? ==============================================

BUSN 115 Week 7 DQ 2 Financial Control

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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 that an IPO could raise would let you hire the brightest people in the industry and continue to innovate with new product research. There is one potential glitch: You and the rest of the executive team have been so focused on launching the business that you haven’t paid much attention to financial control. You’ve had plenty of funds from venture capitalists and early sales, so working capital hasn’t been a problem, but an experienced CEO in your industry recently told you that you’ll never have a successful IPO unless you clean up the financial side of the house. Your cofounders say they are too busy chasing great opportunities right now and they want to wait until right before the IPO to hire a seasoned financial executive to put things in order. What should you do and why?


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BUSN 115 Enhance teaching - tutorialrank.com  

For more course tutorials visit www.tutorialrank.com Question 1.1. (TCO 7) Some of the characteristics of lean systems include which of the...

BUSN 115 Enhance teaching - tutorialrank.com  

For more course tutorials visit www.tutorialrank.com Question 1.1. (TCO 7) Some of the characteristics of lean systems include which of the...

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