Intro to Business - CH 1 Review

A general change in the way business is developing is called:

• a business trend

• the status quo

• circumstantial discovery

• an analogy

Trends affecting the business world most rapidly, relate to:

• balance sheets

• technology

• resourcing

• harvesting

The ability of a computer program or machine to think and learn, and to emulate or match what human beings do, like reasoning and making decisions, is called:

• Ambient Intelligence

• Internet of Things

• HTML

• Artificial Intelligence

What is the marketing concept?

• A marketing activity that involves making customers aware of an organization’s product or service, and convinces them that they want or need it.

• Informing potential customers that a product or service exists, and the results they should expect from using it.

• A marketing activity an organization engages in to collect data about existing customers’ perceptions of the organization.

• To analyze and identify the needs and wants of customers, and build strategies to satisfy those needs and wants, better and more effectively than its competitors.

What is an example of a durable good?

• a pencil

• a play

• a sandwich

• a truck

What is an example of a nondurable good?

• a car

• a granola bar

• a smartphone

• an LED light bulb

Complete the outline with the correct term. The Six Functions of Business i. Human Resources ii. Strategy iii. Information Management iv. __________ v. Marketing vi. Finance/Accounting

• Operations

• Customer Service

• Mission

• Vision

Business is about __________ managing business functions.

• markets

• finance

• people

• technology

• information

Which business function is responsible for recruiting, hiring, onboarding, training, evaluating, and terminating employees?

• Finance/Accounting

• Strategy

• Human Resources

• Marketing

Which business function is a route or plan of action designed to achieve certain goals and objectives?

(a)