BUS 101 Final Exam - Questions and Answers An example of nonstore retailing is the vending machine from which you purchased a soda. True Enlightened firms are realizing that empowerment puts too much stress on employee
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BUS 101 Final Exam - Questions and Answers An example of nonstore retailing is the vending machine from which you purchased a soda. True Enlightened firms are realizing that empowerment puts too much stress on employees and are eliminating empowerment programs. False Verna Knight is doing observation research when he asks people to describe how to fold sheets, towels, and pillowcases. False Venture capitalists provide a source of debt financing and usually charge high interest for loans because of the high risk of the enterprises they finance. False _____ is the process that converts inputs into outputs that can be sold as goods and services. Production The final stage of the selling process is closing the sale. False A manufacturing company in which industrial engineers have maximized efficiency by determining the best way to perform every task from tightening a bolt to operating a forklift would be illustrative of: scientific management When workers in a union elect their officers to represent them, it is an example of division of labor. False A term loan is a loan with a maturity of less than a year. False The reason that Castle and Cooke processes and packages Dole pineapple products in Hawaii is more than likely because of low energy costs. False The short-range, detailed planning that focuses on current operations is called functional planning. False Strategic planning is long-range, formulated by top management, and made as if the company operated in a vacuum False International trade-dependent jobs have grown at a rate three times the growth of U.S.-dependent jobs. True In the product development process, most companies utilize the concepts of brainstorming, screening, and test marketing. True A computer program that copies itself into other software and can spread to other computer systems is called a software infestation. False Managers can use equity theory to improve worker satisfaction. True With the goal-setting theory, managers have learned that easier goals motivate more effectively than challenging ones. False Of all the forms of equity capital, venture capital is the easiest to obtain. False _____ involves coordinating and allocating a firm's resources so that the firm can carry out its plans and achieve its goals. Organizing Operations managers: - control about three-fourths of firm's assets; - work closely with people in marketing, finance, accounting, and human resources departments; - help to decide which products the company should produce; - face the challenge of combining people and other resources to produce high-quality products; - are accurately described by all of the above _____ management is the art and science used to determine the most effective ways to acquire and use funds to achieve the firm's goals. Financial Armenia had a favorable balance of trade in 2018 when it exported $800 million in goods and services and imported $1.5 billion.
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