test bank into to business chapter 1 PDF

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test bank intro to business chapter 1...

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This chapter has 142 questions. Scroll down to see and select individual questions or narrow the list using the checkboxes below.

Multiple Choice Questions - (74)

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questions at random and

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Learning Objective: 01-05 Exposure to the concept of Visionary Leaders

True/False Questions - (56)

Learning Objective: 01-06 Via a Management Reflection, a cursory overv business strategy and business model development, and the importance of succ business to achieve its identified objectives - (12)

Short Answer Questions - (12)

Learning Objective: 01-07 Via an appendix, an introduction to the differe profitability - (13)

Odd Numbered - (71)

Topic: 01-01 The Big Picture - (12)

Even Numbered - (71)

Topic: 01-02 What Is Business? - (51)

Accessibility: Keyboard Navigation - (130)

Topic: 01-03 The Full Business Model - (11)

Difficulty: Difficult - (6)

Topic: 01-04 The Role of the Business Owner or C-Suite Manager - (16

Difficulty: Easy - (107)

Topic: 01-05 Putting Plans Into Action - (14)

Difficulty: Moderate - (29)

Topic: 01-06 Thinking Across Multiple Horizons - (4)

Gradable: automatic - (130)

Topic: 01-07 Corporate Social Responsibility - (10)

Gradable: manual - (12)

Topic: 01-08 The Concept of Visionary Leadership - (7)

Learning Objective: 01-01 A macro-level understanding of what business is - (54)

Topic: 01-09 Management Reflection - The Business Decision-Making L

Learning Objective: 01-02 An overview of the major components of a business model and how their successful development and execution determines business performance - (54)

Topic: 01-10 Appendix - The Business Model and Profitability - (2)

Learning Objective: 01-03 An awareness of the overarching role of the business owner or C-Suite management team - (45)

Topic: 01-11 The Difference between Profit and Profitability - (8)

Learning Objective: 01-04 An understanding of how businesses plan - (42)

Topic: 01-12 Improving Profitability - (2)

1. Commercial endeavours refers to the markets the organization serves, the products it offers, and meet in the marketplace. → True False Accessib True / False Question question #1 To 2. Employee interaction is a reflection of the complexities of the business activities that circulate w True → False Accessib True / False Question question #2 To 3. Organizational efficiency and structure refers to the value-creating skills an organization's emplo marketplace. True → False Accessib True / False Question question #3 To 4. Employee interaction refers to the value-creating skills an organization's employees bring to the m → True False Accessib True / False Question

question #4 To 5. Business can be thought of as a system designed to grow a market for an organization's goods an organizational value on behalf of stakeholders. → True F l

7. The goal of business activities is profit. True False → Accessib

Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus True / False Question successful development and execution determ question #7 Topic 8. Profit is what it costs to make and sell a product. True → False Accessib Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus True / False Question successful development and execution determ question #8 Topic 9. Businesses have the right to keep and use their profits as they choose, without limitations. True → False Accessib Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus True / False Question successful development and execution determ question #9 Topic 10. Businesses seek to earn a profit by providing goods and services to others. → True False Accessib Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus True / False Question successful development and execution determ question #10 Topic 11. Revenue is the amount a business earns above and beyond what it spends for expenses and costs True → False Accessib

Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus True / False Question successful development and execution determ question #11 Topic 12. A manager is an individual who assumes the risk of starting a business. True → False

Accessib

→

True False Accessib

Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus successful development and execution determ True / False Question Topic question #14 Topic: 01-0 15. Technology can help businesses become more efficient and productive. → True False Accessib Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus True / False Question successful development and execution determ question #15 Topic 16. Successful firms follow a customer-driven strategy, as opposed to the management-driven strateg → True False Accessib Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus True / False Question successful development and execution determ question #16 Topic 17. The competitive environment now empowers managers to make decisions quickly for their front True False → Accessib Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus True / False Question successful development and execution determ question #17 Topic 18. Managers coordinate resources to achieve organizational objectives. → True False Accessib

Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus True / False Question successful development and execution determ question #18 Topic 19. Businesses seek to earn a profit by providing goods and services to others. → True False

Accessib

On the company-centric (business system) side of the business model, the key activities cell refer resource base of the organization. True → False Accessib Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus successful development and execution determ True / False Question Topic question #21 Topic: 01-0 22. The Buckmaker Corporation generated total revenues of $30 million dollars while incurring expe During the year Buckmaker earned a profit of $13 million. → True False Accessib Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus True / False Question successful development and execution determ question #22 Topic 23. Successful businesses constantly monitor consumer wants and needs. → True False Accessib

Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus True / False Question successful development and execution determ question #23 Topic 24. Not-for-profit organizations such as the Canadian Cancer Society do not engage in management, activities. True → False Accessib Learning Objective: 01-03 An awareness of the overarching role of the True / False Question Learning Objective: 01-04 An understand question #24 Topic: 01-0 25. To remain competitive in today's market, firms must produce a quality product and offer outstand reasonable price. → True False Accessib Learning Objective: 01-03 An awareness of the overarching role of the True / False Question

Learning Objective: 01-04 An understand

question #25 Topic: 01-04 The Role of the Business O 26. Producing a high quality product will ensure success in the competitive environment. True

Learning Objective: 01-03 An awareness of the overarching role of the Learning Objective: 01-04 An understand Topic: 01-11 The Difference betw 28. Management is the art of getting things done through organizational resources. → True False Accessib

Learning Objective: 01-03 An awareness of the overarching role of the True / False Question Learning Objective: 01-04 An understand question #28 Topic: 01-04 The Role of the Business O 29. A modern manager's main job is to issue orders, then follow up to make sure employees do as th True → False Accessib Learning Objective: 01-03 An awareness of the overarching role of the True / False Question Learning Objective: 01-04 An understand question #29 Topic: 01-04 The Role of the Business O 30. Managers in progressive organizations tend to emphasize teamwork and cooperation rather than orders. → True False Accessib Learning Objective: 01-03 An awareness of the overarching role of the True / False Question Learning Objective: 01-04 An understand question #30 Topic: 01-04 The Role of the Business O 31. Managers in many of today's high-tech firms realize that workers often know much more about t → True False Accessib Learning Objective: 01-03 An awareness of the overarching role of the Learning Objective: 01-04 An understand True / False Question Topic: 01-04 The Role of the Business O question #31 32. Despite all of the changes in the business environment, the basic way a manager performs his or remarkably constant. True False → Accessib Learning Objective: 01-03 An awareness of the overarching role of the

True / False Question Learning Objective: 01-04 An understand question #32 Topic: 01-0 33 Given the lack of discipline and short attention spans of today's workers modern managers must

True / False Question question #34

Accessib

Learning Objective: 01-03 An awareness of the overarching role of the Learning Objective: 01-04 An understand Topic: 01-04 The Role of the Business O 35. The need for better-educated and self-directed workers has made it easier for managers to obtain their workers. True → False Accessib

Learning Objective: 01-03 An awareness of the overarching role of the Learning Objective: 01-04 An understand True / False Question Topic: 01-04 The Role of the Business O question #35 36. Every business is faced with the reality of having less uses for resources than resources available True → False Accessib

Learning Objective: 01-03 An awareness of the overarching role of the True / False Question Learning Objective: 01-04 An understand question #36 Topic: 01-0 37. Because of advancements in technology, managers now have an easier time obtaining long-term workers. True → False Accessib

Learning Objective: 01-03 An awareness of the overarching role of the True / False Question Learning Objective: 01-04 An understand question #37 Topic: 01-04 The Role of the Business O 38. An organization is said to have competitive advantage when it can perform critical activities bett → True False Accessib

Learning Objective: 01-03 An awareness of the overarching role of the True / False Question Learning Objective: 01-04 An understand question #38 Topic: 01-0 39. Not-for-profit organizations are concerned with wealth creation on behalf of their shareholders a True → False Accessib

Learning Objective: 01-03 An awareness of the overarching role of the

Accessib

Learning Objective: 01-03 An awareness of the overarching role of the True / False Question Learning Objective: 01-04 An understand question #41 Topic: 01-0 42. Questions like "What needs to be changed or improved?" are associated with the positioning stag True → False Accessib

Learning Objective: 01-03 An awareness of the overarching role of the Learning Objective: 01-04 An understand True / False Question Topic: 01-0 question #42 43. Stakeholders are best understood as the shareholders of a business or the people who have made True → False Accessib

Learning Objective: 01-03 An awareness of the overarching role of the True / False Question Learning Objective: 01-04 An understand question #43 Topic: 01-07 Corp 44. Stakeholders have a direct or an indirect link to an organization and can be impacted by its polici → True False Accessib

Learning Objective: 01-03 An awareness of the overarching role of the Learning Objective: 01-04 An understand True / False Question Topic: 01-07 Corp question #44 45. Social and environmental responsibility is not as important as it used to be. True → False Accessib

Learning Objective: 01-03 An awareness of the overarching role of the True / False Question Learning Objective: 01-04 An understand question #45 Topic: 01-07 Corp 46. Short-term performance is one of two fundamental objectives that managers must consider when the strategic direction of the organization. True → False Accessib

Learning Objective: 01-03 An awareness of the overarching role of the

→

False Accessib

Learning Objective: 01-06 Via a Management Reflection, a cursory overview o business strategy and business model development, and the importance of suc True / False Question order for a business to achie question #48 Topic: 01-09 Management Reflection - The Business D 49. Assessing company resources and capabilities is an element of the business decision-making mo → True False Accessib

Learning Objective: 01-06 Via a Management Reflection, a cursory overview o business strategy and business model development, and the importance of suc True / False Question order for a business to achie question #49 Topic: 01-08 The Conce 50. As managers, we need to avoid the temptation to become predominantly focused on short-term r → True False Accessib

Learning Objective: 01-06 Via a Management Reflection, a cursory overview o business strategy and business model development, and the importance of suc True / False Question order for a business to achie question #50 Topic: 01-09 Management Reflection - The Business D 51. The amount of profit or loss earned by a business can be found by subtracting the firm's expense → True False Accessib

Learning Objective: 01-07 Via an appendix, an introduction to the dif True / False Question Topic: 01-11 The Difference betw question #51 52. Profits of a business include the salaries paid to the owners and employees of that business. True False → Accessib

Learning Objective: 01-07 Via an appendix, an introduction to the dif True / False Question question #52 Topic: 01-11 The Difference betw 53. Total revenue - total expenses = profit True → False Accessib

True / False Question question #53 54 P fi bili i h "b

Learning Objective: 01-07 Via an appendix, an introduction to the dif li "

l h

i

i

h

b

Topic: 01-11 The Difference betw bl hi

Learning Objective: 01-07 Via an appendix, an introduction to the dif Topic: 01-11 The Difference betw 56. The challenge to improve profitability faces both large companies and small companies. → True False Accessib

Learning Objective: 01-07 Via an appendix, an introduction to the dif True / False Question Topic: 01 question #56 57. One way of thinking about the talent component of an organization is to use the axiom that a suc from ____% thinking and ____% execution: → 5, 95 95, 5 80, 20 20, 80 50, 50 Accessib

Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus Multiple Choice Question successful development and execution determ question #57 Topic 58. The goal of business is to earn respect. resources. → a profit. responsibility. independence. Accessib

Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus Multiple Choice Question successful development and execution determ question #58 Topic 59. A business' objectives should NOT be: specific measurable

→

actionable controllable overly complicated Accessib

Learning Objective: 01-03 An awareness of the overarching role of the Multiple Choice Question

Learning Objective: 01-04 An understand

question #59 60. Which of the following is NOT presented as a key ability of visionary leaders: articulate and communicate the vision

Topic: 01-0

interests. Accessib

Learning Objective: 01-03 An awareness of the overarching role of the Multiple Choice Question Learning Objective: 01-04 An understand question #61 Topic: 01-07 Corp 62. Not-for-profit organizations, Last for only short periods of time as their objective is not to create profits for their o Have a hard time hiring employees as they have no means of paying them. Are not concerned about meeting their financial needs. → Can provide an opportunity for individuals to address social issues. Are the same as government organizations Accessib

Learning Objective: 01-03 An awareness of the overarching role of the Multiple Choice Question Learning Objective: 01-04 An understand Topic: 01-0 question #62 63. All of the following are recognized as abilities of visionary leaders except: demonstrate leadership commitment → drive increases in profitability articulate and communicate vision create commitment to vision Enable execution of essential processes Accessib

Multiple Choice Question Learning Objective: 01-05 Exposure to the conce question #63 Topic: 01-07 Corp 64. What is the first step in the business decision-making model: → visualize and assess the business opportunity adjust, build out or reinvent the business model assess company resources and capabilities determine tactics required to achieve objectives confirm market size and profitability potential Accessib

Learning Objective: 01-06 Via a Management Reflection, a cursory o between business strategy and business model development, and the Multiple Choice Question executing both in order for a business to achie question #64 Topic: 01-08 The Conce 65. ____________ refers to the human resource requirements of the business. → Labour Capital Assets Efficiency

Acumen Accessib

Learning Objective: 01-02 An overview of the major components of a bus successful development and execution determ Topic 67. Any activity which seeks to earn a profit by providing a good or service is known as a(n): industry corporation → business service initiative Accessib

Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus Multiple Choice Question successful development and execution determ question #67 Topic 68. __________can most easily be thought of as a set of mission-focused actions aimed at identifyin market, or markets, and the development of a solution to such needs through the acquisition or tr and services that can be delivered to the marketplace at a profit: goods-producing activities service activities → business government Not-for-profit activities Accessib

Learning Objective: 01-01 A macro-level underst Learning Objective: 01-02 An overview of the major components of a bus Multiple Choice Question successful development and execution determ question #68 Topic 69. ______________ refers to the ability of managers to establish a direction for the organization ba identified in the marketplace and the mission (reason for being) of the organization. Human capital Assets Business Acumen → Visionary leadership Managerial Acumen Accessib

Multiple Choice Question Learning Objective: 01-05 Exposure to the conce question #69 Topic: 01-08 The Conce 70. A precise statement of the rationale for a business and a step-by-step explanation of how it will a mission ...