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BUS 508 Week 1 Chapter 1 Practice Quiz

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BUS 508 Week 1 Chapter 1 Practice Quiz -
  • Question 1

________ is a partnership formed to create a competitive advantage for the businesses involved.

Answer

  • Global alliance
  • Building alliance
  • Innovation alliance
  • Strategic alliance

 

  • Question 2

Colonial society emphasized rural and agricultural production.

Answer

  • True
  • False

 

  • Question 3

During the production era, business focused attention on internal processes rather than external influences.

Answer

  • True
  • False

 

  • Question 4

________ organizations are business like establishments that have primary objectives other than returning profits to their owners.

Answer

  • General
  • For-profit
  • Not-for-profit
  • Social

 

  • Question 5

Many members of the Baby Boom generation, the huge number of people born between ________, are still hitting the peaks of their careers.

Answer

  • 1965 and 1981
  • 1982 and 2005
  • 1999 and 2010
  • 1946 and 1964

 

  • Question 6

Which of the following is not a profit reward earned by businesspeople who take the risks:

Answer

  • Blending people
  • Human resources
  • Technology
  • Information to create and market want-satisfying goods and services

 

  • Question 7

________ represents rewards for businesspeople who take the risks involved in blending people, technology, and information to create and market want-satisfying goods and services.

Answer

  • Yields
  • Income
  • Economy
  • Profits

 

  • Question 8

 

Factors that require organizational change can come from both external and internal sources; successful managers must be aware of both.

Answer

  • True
  • False

 

  • Question 9

________ is using outside vendors to produce goods or fulfill services and functions that were previously handled in-house or in-country.

Answer

  • Globalization
  • Outsourcing
  • Fencing
  • Bargaining

 

  • Question 10

________ consists of all profit-seeking activities and enterprises that provide goods and services necessary to an economic system.

Answer

  • Buyer
  • Business
  • Broker
  • Profits

 

  • Question 11

With some practice and mental exercise, you can cultivate your own ability to think creatively.

Answer

  • True
  • False

 

  • Question 12

________ includes anyone who works, including both the physical labor and the intellectual inputs contributed by workers.

Answer

  • Entrepreneurship
  • Production
  • Natural resources
  • Human resources

 

  • Question 13

________ is the collection of activities that build and maintain ongoing, mutually beneficial ties with customers and other parties.

Answer

  • Innovative management
  • Relationship management
  • Creative management
  • Building management

 

  • Question 14

The need to develop environmentally friendly products and processes is not becoming a major new force in business today.

Answer

  • True
  • False

 

  • Question 15

________ are growing more influential as a link between companies and their customers, and more companies are beginning to take advantage of their directness.

Answer

  • Wikis
  • Links
  • URLs
  • Blogs

 

  • Question 16

________ is a broad term that refers to such machinery and equipment as computers and software, telecommunications, and inventions designed to improve production.

Answer

  • Technology
  • Capital
  • Natural resources
  • Entrepreneurship

 

  • Question 17

A brand cannot be a name, term, sign, symbol, design, or some combination that identifies the products of one firm and differentiates them from competitors’ offerings.

Answer

  • True
  • False

 

  • Question 18

________ is the willingness to take risks to create and operate a business.

Answer

  • Creativity
  • Entrepreneurship
  • Innovation
  • Business

 

  • Question 19

________ is building and promoting products in the hope that enough customers will buy them to cover costs and earn profits.

Answer

  • Human resource management
  • Labor relations management
  • Transaction management
  • People management

 

  • Question 20

A skilled and knowledgeable workforce is an essential resource for keeping pace with the accelerating rate of change in today’s business world.

Answer

  • True
  • False

 

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