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WorksheetsPOB 5.03 Review
Total questions: 17
Worksheet time: 17mins
small-business owner whose business is a sole proprietorship is planning to “go global.” What method for going global would be best to recommend to the small-business owner?
Start by hiring an export management company.
Start by building facilities in the countries of interest.
Start by merging with a foreign business that can sell your products.
Start by renting facilities in the countries of interest and hiring foreign employees
Which is a factor that affects the business environment?
industry competition
staff organization
information management
conflict negotiation
The owner of a small company decides to stock a new product. Which business activity should the owner use to inform potential customers about the new product?
finance
marketing
management
production
The two main divisions of the trade industry are:
manufacturers and wholesalers.
wholesalers and retailers.
producers and retailers.
wholesalers and producers.
Three primary factors that affect the organizational structure of a business include interpersonal relationships, tasks, and:
injunction
authority
initiative
attrition
Which factor has aided the most in creating a global business environment?
technology
government
cultural change
exchange rate
A U.S. company would decide to offer its products in other countries as a reason to:
subsidize developing countries.
sell obsolete, outdated products.
expand to new, untapped markets
provide jobs to people in other countries.
A group of individuals wants to open a museum that will display items from early settlers of the area. The group will charge just enough admission to pay the expenses of operating the museum. Will the museum be a business?
No, the museum will not be considered a business.
No, the museum will be a charitable institution.
Yes, the museum will be a not-for-profit business.
Yes, the museum will be a for-profit business.
Kim invests heavily in a marketing campaign to stimulate sales for her company. What type of management process is this an example of?
competitive aggression
innovative management
organizational learning
proactive management
Which situation would most likely indicate the need to adapt to changes in the business environment?
The supply of materials used in manufacturing a product has decreased.
The number of the business's competitors has decreased.
The demand for the product is stable.
The business has experienced little employee turnover during the past year.
Business ethics involve considering issues about what is:
positive and negative.
legal and illegal.
safe and unsafe.
right and wrong.
One reason why many small businesses develop an organizational design that requires a board of directors is because a board usually:
provides experience that increases the business's credibility.
assumes all legal responsibility for the business's actions.
helps with the day-to-day operations of the business.
evaluates the performance of the business's employees.
Which affects the business environment because it provides the most options for consumers?
command economy
international sanctions
monopoly
global competition
Businesses that successfully adapt to current market situations often realize that:
cutting costs is important.
more financing is necessary.
diversification is the key.
change is an opportunity.
Which is an example of an economic factor that affects the business environment?
business cycle
employee morale
management style
long-term goals
Which is an example of ethical business behavior?
testing products to ensure they are safe to use
accepting a bribe from a prominent customer
using advertisements to confuse customers
disclosing partial information about products
If a business is not concerned about social responsibility, it is likely to:
become solvent.
prosper.
grow.
be a failure.
