QUESTION Advertisements for breakfast cereals that promote directly to children often raise ethical questions. Why? What will be an ideal response? ANSWER Children are neither educated enough nor mature enough to make wise decisions regarding their health. Therefore an advertisement for a breakfast cereal that is full of sugar may appeal to them because […]
QUESTION Lean manufacturing applies only to processes that create goods. Indicate whether the statement is true or false ANSWER FALSE
QUESTION Production is the use of various factors of production to transform raw materials into products. Indicate whether the statement is true or false ANSWER TRUE
QUESTION Decision making is getting results from considering a course of action ________. a. based on no alternatives b. based on just one alternative c. among several alternatives d. between just two alternatives ANSWER c
QUESTION What stage of the business life cycle is characterized by continuous and rapidly decreasing sales? a. introductory b. growth c. maturity d. decline/rebirth ANSWER d
QUESTION SCORE members are ________. a. venture capitalists b. commercial lenders c. retired executives d. employed by the SBA ANSWER c
QUESTION Bringing in new customers costs a company about five times more than retaining existing customers. Indicate whether the statement is true or false ANSWER TRUE
QUESTION The first decision making step is ________. a. rank the alternatives b. identify the goal(s) to be achieved and the decision to be made c. decide and act d. isolate the facts ANSWER b
QUESTION Value stream mapping is the visual mapping of the total production process. Indicate whether the statement is true or false ANSWER TRUE
QUESTION An advertisement that says that the product being offered is guaranteed to cure the common cold is operating unethically. How? What will be an ideal response? ANSWER The message in the advertisement is intentionally misleading, inaccurate, and manipulative. Since there is no guaranteed cure for the common cold, the company that created this […]
