Business Knowledge Quiz

Which of the following best describes a secured business line of credit:

• It is difficult to get approved.

• It is riskier for the lender.

• It requires collateral.

• It comes with a higher interest rate.

Which of the following is a way in which companies can become customer-focused:

• Prioritizing customer feedback

• Being reactive when communicating company changes

• Preventing customers from going above and beyond

• Avoiding personalized experiences

External audits are different from internal audits in that external audits

• focus on proving the accuracy of financial statements.

• focus on measuring current performance.

• look for areas of improvement.

• are conducted by someone within the company.

Business employees typically write proposals to management to

• analyze a project's progress.

• share a plan of action.

• request a raise.

• air grievances.

Who should you talk to when conducting a SWOT analysis for your business?

• Only top managers of the company

• Only mid-level employees

• Everyone—from company leaders to low-level employees

• Your competitors—to see how they view your business

When Blend Inc. finalized a merger with a competitor, the company’s leadership hosted a meeting to tell employees how the merger will impact them. This is an example of how

• gaining buy-in is an important aspect of change management.

• change management does not require a leader to be successful.

• change can negatively affect a company if not managed well.

• only people at the top of a company are impacted by change.

Which of the following is an advantage of direct marketing:

• It lacks a personal touch.

• It must conform to legal regulations.

• It is cost effective.

• It leads to consumer overload.

Amy recently bought a new phone case and is very pleased with her purchase. In fact, she has talked about how much she likes the phone case to her friends, family, and co-workers. This is an example of __________ marketing.

• cause

• grassroots

• word-of-mouth

• guerrilla

Wes, a public relations (PR) professional for an electronics company, releases an official statement to the media about a new product the company is releasing. Wes is utilizing what PR tool?

• Press release

• Blog

• Newsletter

• Social media marketing

Which of the following factors affecting selling price is determined by what people want and can afford:

• Competition

• Costs

• Supply and demand

• Economic conditions