BUSN 115 Final Exam
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BUSN 115 Final Exam
1. (TCO 7) Some of the characteristics of lean systems include which of the following?
2. (TCO 7) Mass customization means
3. (TCO 8) One scarce item in the future will be water. Which is the least expensive way to get water from places of abundance to places of need?
4. (TCO 8) If there is one thing that advertisers agree upon, it is the growing importance of social media in product promotion. Given this information
5. (TCO 1) You own a hardware store in the small town where you live. A big-box, multiline competitor has just opened. You see the following as your advantages of maintaining your market share and continued sales revenue. (Select all that apply.)
6. TCO 1) You are fairly good at various and sundry home repairs. You aren’t very good at electrical things or anything having to do with plumbing. But you’re great with painting, patching, and general maintenance on a home.
7. (TCO 1) A technique that combines all the promotional tools into one comprehensive, unified promotional strategy includes which? (Select all that apply.)
8. (TCO 2) A conscious plan that represents and encourages a unique set of values includes which? (Select all that apply.)
9. (TCO 2) The Uniform Commercial Code includes which? (Select all that apply.)
10. (TCO 2) Some regulation of business seems necessary to ensure fair and honest dealings with the public. The impact of this statement can best be explained by which of the following? (Select all that apply.)
11. (TCO 3) Strategies for reaching global markets include which? (Select all that apply.)
12. (TCO 3) Nations rely on a number of key indicators to measure global trade. These include which? (Select all that apply.
13. (TCO 3) In 1948, a global forum was created whose purpose it was to reduce trade restrictions on goods, services, ideas, and cultural programs. The results of the efforts of this organization include which? (Select all that apply.)
14. (TCO 4) The disadvantages of sole proprietorships are which? (Select all that apply.)
15. (TCO 4) A limited liability company has which of the following advantages? (Select all that apply.)
1. (TCO 5) In this digital age, setting up shop online is vital for most retail businesses. But having only an online presence that customers can access at home isn’t enough anymore. Now consumers have an array of smartphones and digital tablets that can get them online from anywhere.
2. (TCO 4) To look at problems and/or passions and see opportunities in them, which of the following questions should be asked? (Select all that apply.)
3. (TCO 5) Electronic wireless technology continues its move toward ubiquity. Such media inculcates which of the following? (Select all that apply.)
4. (TCO 5) You are an independent Internet marketing consultant. You have an excellent track record of assisting small- to medium-sized companies fully realize their marketing potential through an improved and enhanced presence on the Web. Mr. Top Hatt, the owner of a small pet-grooming salon (Hatt’s Cat Grooming Emporium), specializes in the care and grooming of cats and only cats and has just called you.
5. (TCO 6) Which does a mission statement address? (Select all that apply.)
6. (TCO 6) Imagine a world that is populated by 9 billion people. In order to maintain our current quality of life, such a world would require 2.3 planets’ worth of resources. In order to sustain the U.S. way of life, businesses and the government must plan for 30% more people living across the globe. Most of those people will be in developing countries, and the demand will be great for energy, food, and healthcare.
7. (TCO 6) Mining Group Gold is a team process that includes a method for processing and analyzing which? (Select all that apply.)
8. (TCO 7) A cellular or modular layout can accommodate changes in design or customer demand. This includes which? (Select all that apply.)
9. (TCO 8) The marketing manager is responsible for choosing how to implement which? (Select all that apply.)
10. (TCO 9) Technology can provide significant increases in productivity and efficiency. However, less than stable technology-based systems can significantly impact businesses at the most inopportune times.
11. (TCO 9) Collaboration software allows multiple users to work on the same document at the same time. It also facilitates videoconferencing so that participants can see and hear each other regardless of where they are. The advantage of using such software is which? (Select all that apply.)
12. (TCO 9) Web 3.0 can be characterized by which of the following statements? (Select all that apply.)
1. (TCO 1) The latest economic news is not very positive. Unemployment rates are higher than expected, consumer confidence has fallen, and companies are reporting layoffs are in order. The Federal Reserve chairman acknowledges the economy is in a recession.
2. (TCO 2) Identify and discuss the social responsibilities of Home Depot to three different stakeholder groups.
3. (TCO 3) Discuss the positive aspects of globalization, and contrast these with the negative aspects of globalization from the perspective of a small business. Be sure to address the pros and cons of outsourcing in your response.
4. (TCO 4) Identify and explain the incentives for entrepreneurship. Address why someone would willingly take the numerous risks associated with running a business. Also, discuss the major attributes necessary for a successful entrepreneur.
5. (TCO 5) Aside from retail sales and marketing, identify and discuss two ways that a business could reduce costs or increase profits by using the Internet or web applications.