Which of the following is a result of globalization:

• Higher productivity

• Decreased competition

• Increased consumer spending

• Shrinking product life cycles

Which of the following is a true statement about consumer demands:

• Consumers don’t care about delivery times

• Consumers want value more than they want low prices

• Consumers want new product features

• Consumers are less demanding than they were in the past

What actions are consumers most likely to take when the economy is poor?

• Gain confidence

• Purchase more high-dollar items

• Buy more products from overseas

• Restrain their spending

How have industry structure changes affected the current business environment?

• Organizations are less willing to change than in the past

• Business now moves faster than ever

• The manufacturing industry has disappeared

• Communication is slightly slower than it used to be

Which of the following industries is part of the fast-growing services-producing sector of the economy:

• Agriculture

• Construction

• Manufacturing

• Education

Wyatt’s laptop is only a couple of years old, but he’d already like to replace it with a newer, updated model. What characteristic of the current business environment does this illustrate?

• Spending trends

• Growth of service businesses

• Shrinking product life cycles

• Globalization

The Polar Bear Publishing Company, a publisher of children’s books, has made adjustments to its promotion and pricing strategies to suit the current market. This is an illustration of which of the following characteristics of an adaptable organization:

• Cohesiveness

• Flexibility

• Cultural intelligence

• Strong leadership

What characteristic has the globalization trend made it necessary for adaptable organizations to display?

• Cultural intelligence

• Strong leadership

• Agility

• Cohesiveness

Which of the following actions illustrates the strong leadership needed in an adaptable

organization:

• Focusing on maximizing resources

• Looking at the big picture rather than individual employees

• Relying on past methods and successes

• Striving to reduce expenses at all costs

Priscilla’s design company is always willing to consider new ideas, trends, and ways of thinking. This is an example of which of the following characteristics of an adaptable organization:

• Cohesiveness

• Cultural intelligence

• Open-mindedness

• Agility