Ideation
The core role of business in society is to increase an economy's _________.
standard of living
Beliefs, or moral standards, about what is right and wrong or good and bad
Ethics
SWOT Analysis includes strengths, weaknesses, opportunities and blank
Threats
What type of users are financial accountants concerned with?
external users
The "doom and gloom" view of automation and its effects on human labor views humans and machines as __________.
substitutes
From the article "How to develop hundreds of business ideas, the first piece of advice Candace Landau provides is to develop what type of skills?
problem solving or problem seeking
List three (3) organizational stakeholders.
Customers, Employees, Owners/Investors, Local/global community, Suppliers
The method of marketing research used in the Coke vs. Pepsi Challenge
Experimentation or focus group
Field of accounting that serves internal users...
Managerial accounting
List one (1) example of automation in the accounting field.
Tax preparation, individual audits, corporate audits
The two categories of distinctive competencies include: new niche in an established market and ___________.
new market
Providing appropriate/accurate information to shareholders regarding financial performance is benefiting which organizational stakeholder?
Investors
List two (2) influences on consumer behavior.
psychological, personal, social, and cultural
The simple intuition behind the accounting equation is the idea that everything the company has belongs to the ________ or _________.
owners; someone else
From the video on "Automation and Jobs", Economist David Autor provides an explanation for the jobs paradox as being for two reasons. What did he call those two reasons?
The "O-Ring" Principle and the "Never Get Enough" Principle
________ is, generally, a 2-3 word statement that explains why an organization exists.
Mantra
The main difference between ethics and CSR is that ethics, generally, are ___________ and CSR is ____________.
guiding principles; the practical application of ethical concerns
In which country did Starbucks fail to successfully penetrate the coffee market?
Australia
If you have $100,000 in assets and $40,000 in owners equity, what are your liabilities?
$60,000
Explain the "O-Ring" Principle
Each "input" into the production process serves a necessary function. If one "input" fails, the final "output" will not be achieved. This is all to say that humans and machines should act as "complements" in the production process.
From the article "How to come up with hundreds of business ideas", the author describes good business ideas like _________.
Networks
What are the two required dimensions of CSR?
economic; legal
What are the 4Ps of the Marketing Mix?
Product, Pricing, Place, Promotion
This financial statement includes the accounting equation.
Balance sheet
Explain the "Never Get Enough" Principle.
Human's innate desire to consume more will always incentivize the generation of new products and new markets, meaning there will, at a minimum, always be a changing role for human labor in society.
From the Ted talk "The Art of Innovation", Guy Kawasaki suggests that when we are developing new business ideas we should be pursuing ___________ and not __________.
meaning; money
What are the two expected/desired dimensions of CSR?
ethical, philanthropic
Cost, product differentiation, service differentiation, and niche are all types of _____________.
Competitive advantage
Finish this statement: Owner/stockholder equity refers to everything that is left over if...
they sold all of the organizations assets and paid off all of its liabilities.
From the "Automation and Jobs" video, we learned that machines are frequently overtaking human labor in middle skill jobs. This has led to an increase in jobs in what lower-skilled sector?
The service sector
From the Ted talk "The Art of Innovation" Guy Kawasaki mentions "Rolling the DICE" when generating new business ideas. What does DICE stand for?
Deep Intelligent Complete Empowering Eloquent
In "The Friedman Doctrine" of 1970, economist Milton Friedman argues that the appropriate agents of social causes are ________.
individuals
Advertising, personal selling, discount sales, and personal relations are all related with what "P" of the marketing mix?
Promotion
What are the three (3) broad categories of financial statements?
Balance Sheet, Income Statement, and Statement of Cash Flows
What effect on the income distribution is "the automation problem" expected to have?
It is expected to widen the gap between high and low income individuals. In other words, the middle class is expected to shrink.
What is the difference between a for-profit and not-for-profit company?
For profit companies disperse profits to shareholders.
Not for profit companies invest profits back into the business.
For Milton Friedman, a company's only responsibility is to its _________.
shareholders
This is a particular group of people or organizations on which an organization's marketing efforts are focused.
Target market
The Balance Sheet describes the __________ of the company, the Income Statement describes the _________ of the company, and the Statement of Cash Flows describes the __________ of the company.
net worth; profitability; cash position
What company's mantra is "Don't be evil."
According to the Forbes (2018) article on the World's 20 Most Reputable Companies for CSR, which company sits at the top?
From "The Case of Starbucks", describe how they failed to penetrate the foreign market according to two (2) of the four (4) components of the marketing mix.
Product: Too big and sugary for local tastes
Pricing: Too expensive
Place: Too "available"
Promotion: Impersonal distribution
What are the 4 major categories included on the Income Statement?
Revenues, Cost of Goods Sold (also, Cost of Revenues), Operating Expenses, Net Income