Emotional Intelligence
Anirudh to fill out at least five job applications this week. What standard has she set for her success?
A. Past performance
B. An objective measure
C. Outperforming others
D. Improvement
B. An objective measure
An entrepreneur in the early stages of his/her venture should avoid hiring full-time employees unless they are needed to perform business activities that
A. require expert advice.
B. save money.
C. create revenue.
D. save him/her time.
C. create revenue.
Which of the following is an example of a consumer market:
A. Workers buying lunch at a local restaurant
B. Businesses buying vehicles for salespeople
C. Schools buying chairs for classroom use
D. Companies buying equipment for a machine shop
A. Workers buying lunch at a local restaurant
Which of the following is an example of an external mechanism of corporate governance:
A. A company's code of conduct
B. Board of directors' policies
C. A company's business objectives
D. Government regulations
D. Government regulations
The Khang Company developed a set of procedures that states how employees should exit the building in case of a fire. This is an example of a(n)
A. safety inspection.
B. evacuation plan.
C. assessment program.
D. insurance risk.
B. evacuation plan.
Which of the following is a way you could promote benefits when persuading a customer to buy a product:
A. "Buying this product will help me meet my sales quota."
B. “Using this product will save you time and money.”
C. “I need to sell this product to keep my boss happy.”
D. “You'll be helping my company by buying this product.”
B. “Using this product will save you time and money.”
When planning for her new business, Janine allocates 2% of the company's estimated annual sales to web and newspaper advertising. Janine is developing a
A. promotional budget.
B. sales report.
C. competitive analysis.
D. publicity plan.
A. promotional budget.
Age, ethnicity, and income are all factors when developing a target segment based on
A. demographics.
B. geography.
C. behavior.
D. psychographics.
A. demographics.
What is an effect of monitoring your progress while working toward a goal?
A. It makes your goal more challenging and time-consuming.
B. It adds external pressure to accomplish tasks.
C. It encourages communication throughout the process.
D. It increases the likelihood that you will succeed.
D. It increases the likelihood that you will succeed.
Obtaining goods that will satisfy the needs and wants of a business's customers is a function of
A. advertising.
B. selling.
C. marketing.
D. purchasing.
D. purchasing.
Kevin wants to negotiate with his supervisor to gain more responsibilities at work. Before approaching his supervisor, Kevin needs to determine the supervisor's position and
A. standards.
B. skills.
C. interests.
D. procedures.
C. interests.
What is the first step in entrepreneurial discovery?
A. Analyzing the feasibility of an idea
B. Determining the risks and rewards
C. Identifying an unmet want or need
D. Screening the product ideas
C. Identifying an unmet want or need
Which of the following elements of the marketing mix are businesses considering when they answer the question of how much of a product to order:
A. Price
B. Place
C. Promotion
D. Product
B. Place
Which of the following best describes the purpose of corporate governance:
A. To ensure that companies are held to high ethical standards
B. To create a favorable image for the company
C. To make hiring and firing decisions for entry-level employees
D. To improve relations with company stockholders
A. To ensure that companies are held to high ethical standards
Because operations managers control so much of a business's money, they must focus on
A. keeping costs low.
B. hiring the best employees.
C. creating effective advertising campaigns.
D. generating publicity.
A. keeping costs low.
Why is it important to share the best techniques for performing a job task with your coworkers?
A. It builds good working relationships.
B. Your coworkers will consider you an expert.
C. It will convince your boss to promote you.
D. It can reduce your work responsibilities.
A. It builds good working relationships.
Feasibility studies can help owners/managers determine
A. where to find good prices on raw materials.
B. what their competitors will do.
C. the best time to start a project or venture.
D. the best place to recruit new employees.
C. the best time to start a project or venture.
Before a business can develop the marketing strategies for its marketing plan, it must
A. set its marketing objectives.
B. select evaluation tools.
C. organize activities.
D. delegate responsibilities.
A. set its marketing objectives.
Internal and external controls, policies, and guidelines for reaching goals while meeting stakeholders' needs are all common elements of
A. legal regulations for businesses.
B. corporate governance structures.
C. nondisclosure agreements.
D. public relations strategies.
B. corporate governance structures.
To effectively manage a supply chain, companies should
A. ignore underperforming suppliers and distributors.
B. monitor the performance of all supply chain partners.
C. introduce frequent changes to the production process.
D. launch new products through multiple suppliers.
B. monitor the performance of all supply chain partners.
What should you do if you realize that your vision no longer matches your ambitions?
A. Realign your ambitions with your vision.
B. Throw out your vision completely.
C. Consult your significant other's vision.
D. Change or adjust your original vision.
D. Change or adjust your original vision.
Jason is evaluating a venture opportunity that involves acquiring a large sum of funding from a lending institution, which poses a(n) __________ risk.
A. low professional
B. insignificant financial
C. moderate professional
D. high financial
D. high financial
To obtain more of the market share, Joanna Snack Foods begins to sell its potato chips and crackers to Chloe Convenience Stores in Seattle, Washington, and its surrounding communities. This is an example of a company implementing a marketing __________ in relation to the marketing-mix element of __________.
A. tactic; price
B. goal; promotion
C. goal; product
D. tactic; place
D. tactic; place
Junyang, the CEO of a large corporation, needs to make sure his management team complies with the new governance practices. What is the best way for Junyang to ensure the management team knows how to comply?
A. Verbally define roles and responsibilities
B. Select a new board of directors
C. Define roles and responsibilities in writing
D. Evaluate performance of the board of directors
A. Verbally define roles and responsibilities
Why does a business conduct a break-even analysis?
A. To determine the approximate consumer demand levels
B. So it can receive a tax break from the government
C. So it can evaluate product sales from the previous year
D. To determine a product's possible range of profit
D. To determine a product's possible range of profit