Exam 1: Developing a Business Mindset

Because they fundamentally change the nature of an industry,________ can be powerful enough to create or destroy entire companies.

________ is money that an organization brings in through the sale of its goods and services.

A firm sets up a paper-manufacturing factory in a country which has very strict regulations regarding disposal of industrial waste.This increases the cost of production of the firm.This is an example of the social environment of the firm.

Which of the following statements is TRUE about the major functional areas in a business enterprise?

Systems that promote communication and data usage through the company or allow it to offer new services to their customers are called ________.

Which of the following is a component of the specific market environment within which each business operates?

Just Bakes,a bakery outlet in Cincinnati,is famous for the uniqueness of its bakery items,such as the baguette supreme,made from mixed-flour dough.The outlet also has an online ordering system that offers original gift baskets.Most of its target customers find it to be more appealing.In this example,Just Bakes has a(n)________.

What are the functions of HR specialists and managers? How has the role of the HR function changed over time.Compare it with the functions of a chief information officer.

Lisa has a small language training business.She provides French and Spanish lessons to several customers in the neighborhood.What type of business does Lisa have?

An HR specialist is most likely to be responsible for which of the following activities?

Which of the following enables companies to design new and better ways to run their operations?

What is professionalism? List the key traits of professionalism.

Businesses can have both positive and negative effects on society.

________ refers to the area where the company makes whatever it makes (for goods-producing businesses)or does whatever it does (for service businesses).

The manager of a firm was accused of diverting company funds for personal use.Andrew was the person responsible for reviewing his financial activities to see if any of the finances were diverted for personal use,and to determine if he had performed any financial crime.Andrew is most likely to be a(n)________.

Forces resulting from the practical application of science to a company's products and processes would best describe its social environment.

Population trends that change the composition of consumer markets and the workforce are a part of a company's ________ environment.

Businesses add value by transforming lower-value inputs (like paper and ink)into higher-value outputs (like textbooks).

Etiquette is the quality of performing your job to the best of your ability and conducting yourself with purpose and pride.

Compare and contrast between goods-producing businesses and service businesses.