The US Biz Environment
In a website browser address bar, what does "www" stand for?
World Wide Web
What types of organizations are used to solicit money that then is distributed to political candidates?
Political action committees
What is the name for the economic value of all of the products that a country exports minus the economic value of its imports?
Balance of Trade
Which type of business managers have titles such as President and CEO?
Top managers
Which of the following represents a feature or image that makes one product different from its competitors?
A) Marketing strategy
B) Product Differentiation
C) Place Distribution
D) Personal Selling
B) Product Differentiation
Which of the following consists of everything outside an organization's boundaries that might affect how the business operates?
A) External Environment
B) Economic environment
C) Domestic business environment
D) Corporate Culture
A) External Environment
True or False: If an action is legal, it will be considered ethical as well.
False
National competitive advantage derives from four conditions, one of which is factor conditions. What do factor conditions include?
Labor, capital, entrepreneurs, and physical resources
Which element of an organization is defined by shared experiences, stories, beliefs, and norms?
corporate culture
In order to distribute products, firms must make decisions about how they will distribute products. The distribution methods used by firms is referred to as
channels
In what country did the first Starbucks open outside of North America?
Japan
What is the name of the concept that expanded the role of business in protecting and enhancing the general welfare of society?
Accountability
Teresita doesn't mind helping her team members in completing the project, even though she is busy on another project right now. She knows that if the group does well, everyone in the group will look good. Which dimension of culture does Teresita's actions support?
Collectivism
Which of the following participates in the business through analyzing their competitive environments, and plan, organize, direct, and control the operations of their organizations?
A) Stockholders
B) Managers
C) Regulators
D) Agents
E) Customers
B) Managers
Sally's Supply shop has recently had to change her process for shipping supplies because of changes in government regulations. She now also has to change how she reports profit and loss, and when those reports are processed. Which of the following is forcing these changes for Sally's Supply shop?
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
E) Political-Legal Environment
E) Political-legal environment
What is the general term for resources used by a business to produce a good or service referred to as?
Factors of Production
In 2009, what became the first Morse code character to be added since WWII?
The "@" symbol
When Andrew is given an assignment, he wants to fully understand the goals and steps in the process. He does not like, or work well in situations with high levels of ambiguity. What is the cultural dimension that describes Andrew's working style?
Uncertainty avoidance
Which aspect of the management process involves determining what the organization needs to do and how best to get it done?
Planning
What government agency has the responsibility to handle investor-related issues?
A) SEC
B) Department of Labor
C) FTC
D) Environmental Protection Agency
A) SEC
Which of the following is a likely cause of increased prices for products, decreased purchasing power, and decreased profit margins?
A) Low Unemployment
B) Stagnant Wages
C) Declining Living Standards
D) Cyclical Inflation
A) Low Unemployment
Which of the following allows for financial sanctions against businesses or business officials who engage in bribery?
A) Sarbanes-Oxley Act
B) SEC Act
C) US Foreign Corrupt Practices Act
D) Political Action Committees
C) US Foreign Corrupt Practices Act
An indication that people accept the authority of superiors simply because of their position in the organization
Power respect
How can organizations best deal with emergencies requiring immediate response?
Crisis management plans
Which of the following is defined as the environment where a firm conducts its operations and derives its revenues known as?
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
E) Political-Legal Environment
C) Domestic business environment