QUESTION Which statement about the introductory stage of the business life cycle is FALSE? a. One business is often alone in the industry. b. There is no need to worry about competition. c. New ventures spend a lot of money on marketing. d. Profits are usually invested back into the business. ANSWER b
Date: September 3rd, 2020
QUESTION Buzz and viral marketing are the most expensive forms of promotion. Indicate whether the statement is true or false ANSWER FALSE
Date: September 3rd, 2020
QUESTION Employees who have neither the effort nor the skills to do a job fall into the training category of ________. a. lifters b. life-support c. leaners d. learners ANSWER b
Date: September 3rd, 2020
QUESTION When writing a business plan, entrepreneurs identify the competition, including the ________, which is the subset of the group on which their product is focusing. a. strategic niche b. competitive niche c. market niche d. SWOT niche ANSWER c
Date: September 3rd, 2020
QUESTION You may be entering questionable ethical territory if you follow the utilitarian approach. Why? What will be an ideal response? ANSWER Because some utilitarians believe the end result justifies whatever path was used to get there. Using this method it is possible you will completely the overlook the path taken.
Date: September 3rd, 2020
QUESTION What stage of the business life cycle is characterized by rapidly increasing sales and profits? a. introductory b. growth c. maturity d. decline/rebirth ANSWER b
Date: September 3rd, 2020
QUESTION Employees who are highly skilled but do not put forth much effort fall into the training category of ________. a. leaners b. life-support c. learners d. lifters ANSWER a
Date: September 3rd, 2020
QUESTION An organization’s division of labor is the physical separation of unionized and non-unionized employees. Indicate whether the statement is true or false ANSWER FALSE
Date: September 3rd, 2020
QUESTION What should NOT be included in the management team section of a business plan? a. the name of the entrepreneur in a top management position b. the specialists or consultants c. the management style of the company d. the competitors ANSWER d
Date: September 3rd, 2020
QUESTION The recall of high-chairs because of a possible defect in manufacturing is an example of _______________ analysis. Fill in the blank(s) with correct word ANSWER cost-benefit
Date: September 3rd, 2020
