BADM 101 FINAL EXAM 2022 WITH COMPLETE SOLUTION
Profitability Ratios >>>>measures how much net income organization is able to generate relative to its assets, owners equity and sales
Revenue >>>>Sales
What is th
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BADM 101 FINAL EXAM 2022 WITH COMPLETE SOLUTION
Profitability Ratios >>>>measures how much net income organization is able to generate relative to its assets, owners equity and sales
Revenue >>>>Sales
What is the most flexible element of the marketing mix? >>>>Price
Raw Materials >>>>It is the basic material from which a product is made and is used in the primary production of a good
Just in Time Management >>>>inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process which reduces inventory costs
Task Force >>>>a group of people formed to carry out a specific mission or project, or to solve a problem that requires a multi-disaplinary approach
Improper Delegation of Authority >>>>is when someone gives authority to someone below them
Why is it hard to sell your interest in a partnership? >>>>because you don't know how much each share is worth and who gets what
What is the least used business organization in the US? >>>>partnerships
What are the functions of management? >>>>planning,organizing,staffing,directing,controlling
Planning >>>>activities to achieve the organizations objectives
Organizing >>>>resources and activities to achieve the organizations objectives
Staffing >>>>the organization with qualified people
Directing >>>>employees activities toward achievement of objectives
Controlling >>>>the organizations activities to keep it on course
What do top managers(CEO) spend most of their time doing? >>>>Planning
Stakeholders >>>>invested interest in benefitting a company; employees, community, investors, customers
What is the first major step of a marketing strategy? >>>>to gather information and conduct research to determine what customers want
Inflation >>>>Rise in prices
When does an economic expansion occur? >>>>when an economy is growing and people are spending more money
Conflict of Interest >>>>is when someone puts their own needs before the companies to benefit themselves
Budget Deficit >>>>when the nation spends more than it takes from people in taxes
Why does the US have a trade deficit? >>>>because the import more products than they export
A Strategic Alliance >>>>a partnership formed to create competitive advantage on a worldwide basis
Corporation >>>>a legal entity, created by the state , whose assets and liabilities are separate from it's owner
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