Download C201 Business Acumen 181 Complete Solutions: Questions and Answers and more Exams Effective Business Communication in PDF only on Docsity!
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C201 Business Acumen 181 complete
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Which part of the organizing process aids in effective and efficient progress toward planned goals and often results in changes within the organization? - ANSWER Evaluating results
What is the result of a company increasing the delegation of authority and the span of control? - ANSWER Increased number of direct reports per manager
Which two key elements does an effective organization include? - ANSWER Human interaction, structure
Why does a line organizational structure function most effectively in a crisis situation? - ANSWER It established a direct flow of authority
Number the seven steps in the recruiting and interviewing process from first to last. - ANSWER 1) Define job requirements, 2) Contact and visit colleges for applicants/interns, 3) Conduct employment tests, 4) Review resumes, 5) Conduct candidate interviews, 6) Follow up interviews, 7) Hiring determination
Which primary driver does management use for an organization's structure? - ANSWER Achievement of company goals
Which step in the organizing process results in management group work activities into units within the organization? - ANSWER Departmentalization
A high tech startup company is launching a marketing campaign for its new social media portal by highlighting how the portal exceeds the connectivity and collaboration capabilities of all other social media sits. Which type of competitive advantage is this company leveraging? - ANSWER Customer loyalty
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Which marketing strategy is devoted to maintaining continuous bottom line prices than relying on short term price cutting tactics such as cents off coupons, rebates, and special sales? - ANSWER Everyday low pricing
When would a pull promotional strategy enhance a competitive advantage to market a product better than a push strategy? - ANSWER When demand for the product is driven by the end user
Which marketing tool is essential to building an effective relationship marketing campaign? - ANSWER An affinity program
Which element of the promotional mix has the advantage of messaging that can be tailored for each customer, but the disadvantage of a high cost per contact? - ANSWER Personal Selling
What three factors should be addressed in a successful marketing plan? Choose 3 answers. - ANSWER Target Market, Sales revenue goals, Plan implementation timeline (not on list, marketing budget)
Which three characteristics are measured in demographic segmentation? Choose 3 answers - ANSWER Race and ethnicity, Income, Household size
In which three ways does business-buying behavior differ from consumer-buying behavior? Choose 3 answers - ANSWER Buyers face organizational influences in addition to their own preferences, purchasers often invite selected providers to bid on a purchase, a group or committee often makes decisions
Which three conditions, in a global selling environment, should a small company leverage to create a competitive advantage? Choose 3 answers - ANSWER cultural homogeneity, mobility of labor, local labor costs
With which two types of products does a marketing strategy rely on advertising more than personal selling? Choose 2 answers. - ANSWER Consumable supplies, accessories to primary products
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Which economic graph is used by organizations to regulate production by predicting the amount of product buyers will purchase at different prices? - ANSWER Demand curve
Which two factors drive demand in a microeconomics system? Choose 2 answers - ANSWER Customer preference, price of substitute goods
How does a sudden shortage of a commodity product affect the immediate demand for the product at its current price? - ANSWER There is no immediate effect on demand
Which two impacts result from a nation's increase in productivity? Choose 2 answers - ANSWER Economy expands, Personal wealth increases
For which two purposes will the U.S Federal Reserve System follow an expansionary monetary policy? Choose 2 answers - ANSWER To encourage bankers to make loans, to cut the cost of borrowing
Which two economic impacts should a manager anticipate when the U.S. government reduces the number of Treasury bills, Treasury Notes, and Treasury bonds it sells? Choose 2 answers - ANSWER An increase in overall cost of debt to private borrowers, an increase of funds for public services
What is one role of a financial manage? - ANSWER Analyzing major investment decisoins
Which two activities are finance activities rather than accounting activities? Choose 2 answers - ANSWER Making capital market investments, creating a financial plan
Which three sources should a business consider when seeking a long-term source? Choose 3 answers - ANSWER Hedge funds, Venture capital, public sale of stocks
In which type of security should a business invest its excess cash in anticipation of paying off the current year's tax liability? - ANSWER Commercial paper
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Which role does the underwriter play in financing business operations when using the capital market to sell securities to the public? - ANSWER It insures the value of the security to the investor
Why should a manager use financial controls in a firm's financial plan? - ANSWER to determine the accuracy of forecasted revenues, costs, and expenses
What does a CFO use in financial planning to determine the expected level of revenue for future periods? - ANSWER Sales forecast plus non-sales revenue
How did the Dodd-Frank Wall Street Reform and Consumer Protection Act impact retailers? - ANSWER capped the debit card fee at 21 cents
Which two activities are prohibited by insider trading laws and should be avoided by a firm's employees? Choose 2 answers - ANSWER Selling company stock because a co-worker told the employee the company's new drug is failing in clinical trial, buying stock in the public company for which the employee works based on a conversation the employee overheard at a cocktail party between two of the company's executives.
Which two risks does a firm face by funding the purchase of long-term assets with short-term funding sources? Choose 2 ansers - ANSWER Volatility of interest rates, frequent renewals
Which funding source should a firm use if it wishes to secure long-term financing while retaining all of its equity? - ANSWER private equity fund
Which three characteristics make commercial paper a low-risk, attractive source of short-term funding for a business? - ANSWER It has a maturity that ranges between 1 and 270 days, it carries interest rates that are 1 to 2 percent less than bank loans, it can make large amounts of money available
What should a firm do to manage the risk of using leverage when exploring long-term funding options? - ANSWER Ensure that earnings remain larger than interests payments
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For which type of communication should employees have an ethical expectation of privacy from company monitoring? - ANSWER Personal letters sent through the company mail room
Which activity raises ethical issues heightened by the capabilities of data mining? - ANSWER Selling customer data for external marketing research
Which intent of spyware creates a company security issue? - ANSWER The intent to report on a user's internet activity
A company might divide itself into smaller groups that best match the types of customers it service. this is an example of - ANSWER departmentalization.
Total productivity - ANSWER output (goods or services) / input (human, natural resources, capital)
Liquidity ratio - ANSWER current assets / current liabilities
acid test - ANSWER current assets - inventory / current liabilities
inventory turnover - ANSWER cost of goods sold / average inventory (average of 2013 + 2014)
receivables turnover - ANSWER credit sales / average account receivables (average of 2013 + 2014)
total assets turnover - ANSWER sales / average total assets
what ratios are considered liquidity ratios - ANSWER the firms abilities to meet its short term obligations and include the liquidity ratio and acid test
what ratios are considered activity ratios - ANSWER measue managements use of the firms resources and include all turn over ratios
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what ratios are considered profitability ratios - ANSWER gross profit, net profit, and return on equity
gross profit margin - ANSWER gross profit / sales
net profit margin - ANSWER net income / sales
return on equity - ANSWER net income / average equity
what are leverage ratios - ANSWER measure the extent to which a firm relies on debt financing and includes debt ratio and long-term debt to equity
debt ratio - ANSWER total liabilities / total assets
long-term debt to equity - ANSWER long-term debt / owner's equity
what do management use support systems for - ANSWER decisions
information systems for activities fall under which support system - ANSWER operational support systems
which of the two information systems are operational support systems - ANSWER process control system, transaction process system
a decision support system (DSS) belongs to which support system - ANSWER management
is ethical and legal the same thing - ANSWER no
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what are the four stages of the product life cycle - ANSWER introductory, growth, maturity, decline
which stage of the product life cycle requires focusing on attracting the competitors customers - ANSWER maturity
which advantage does brand loyalty provide - ANSWER competitive advantage
the highest form of brand loyalty is - ANSWER imsistence
brand preference is a higher form or loyalty than brand recognition - ANSWER true
a brand is recognized by potential customers, and is correctly associated with a particular product - ANSWER brand awareness
connect the brand to the a positive image (GE to eco friendly) - ANSWER brand association
what are marketing intermediaries - ANSWER retailer and broker
using what can make a price cheaper to a consumer - ANSWER wholesaler
what adds value to a product - ANSWER marketing intermediaries
what is the purpose of a strategic marketing stratey - ANSWER achieve organizational goals
what is not a non-traditional marketing technique - ANSWER team
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what is a non-traditional marketing technique you would use to market yourself as a real-estate agent - ANSWER people
the 4 P's product, place, promotion, price make up what - ANSWER marketing mix
name three personal, determinants that influence your consumer behavior - ANSWER learned experience, perception, self-concept
what market segmentations are used in B2B and B2C - ANSWER demographic and geographic
targeting consumer markets based on lifestyle is what kind of segmentation - ANSWER psychographic
the advantage of being able to offer a product at a much lower price than a competitor is - ANSWER comparative advantage
B2B relationship marketing is easier to create with - ANSWER new businesses
which type of production carries the highest inventory - ANSWER mass
which type of productions has little to no finished inventory - ANSWER customer driven
which type of production utilizes the most information technology (automation). - ANSWER flexible
which type of production requires the highest level of skilled workers - ANSWER mass production
what are two advantages to computer aided manufacturing - ANSWER accuracy, faster
what do we call a facility hat can utilize computer-integrated manufacturing to produce a product from start to finish - ANSWER lights out facility
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which type of competition requires government regulation for entry - ANSWER monopoly
which type of competition is the easiest to enter - ANSWER pure
what is the name of the graph that we use to demonstrate demand - ANSWER demand curve
what is the point where supply and demand curves intersect - ANSWER equilibrium price
is the study of supply and demand a micro or macro economic issue - ANSWER micro
when federal taxes are reduced is that micro or macro - ANSWER macro
when a tariff is increased on importing produce, is that micro or macro - ANSWER macro-economics
name the three tiers of management - ANSWER middle, supervisory, top
management is the process of - ANSWER achieving organizational objects
which level of planning does the middle manager complete - ANSWER tactical
what levels of management contribute to the contingency plan - ANSWER all levels
skill required for managers - ANSWER technical, human, conceptual
Departmentalizing based by domestic and international is which kind of departmentalization? - ANSWER geopgraphical
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Pick two types of departmentalization. - ANSWER functional, process
An organizational structure that is slow to make decisions because they look for consensus. - ANSWER committee
You may report vertically and horizontally in this organizational structure, - ANSWER matrix
what group likes structure - ANSWER millenials
What is the earliest year a Millennial would have been born? - ANSWER 1980
There are three key elements to an organization. What are they - ANSWER Human interaction, Goal- directed activities, structure
Who uses the sales forecast indicates where necessary funds will come. - ANSWER CFO
what revenue is not considered by the CFO for origin of necessary funds for the planning period. - ANSWER non-sales
The amount of assets a firm will need to support the forecast for a planning period. - ANSWER asset intensity
A firm pays taxes on profits that are repatriated as part of global operations. (yes or no) - ANSWER yes
An accounting method that helps a firm reduce the disparity in exchange rate. - ANSWER balance sheet hedge
Select a reason dept capital is cheaper than equity capital. - ANSWER Creditors will accept a lower rate of return than investors
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Protects investors by pursuing civil actions against businesses for violations. - ANSWER SEC
Which financial statement provides managers a picture of cash needed for day-to-day operations? - ANSWER statement of cash flows
Which financial statement is a permanent statement? - ANSWER balance sheet
Which two financial statements would be reviewed by potential buyers? - ANSWER Statement of owner's equity and balance sheet
Depreciation is a non-cash expense on which statement? - ANSWER statement of cash flows (depreciations)
Which ratio is considered satisfactory liquidity using the liquidity ratio? - ANSWER 2:
Which ratio is considered adequate liquidity using the quick ratio? - ANSWER 1:
What does a calculated liquidity ratio of 2.5 indicate? - ANSWER $2.50 in assets for every $1.00 in liability
Which indicates better performance in inventory turnover? - ANSWER high inventory turnover ratio
Why do we avoid an over-reliance on borrowing? - ANSWER to gain leverage
How often do firm's prepare a cash budget? - ANSWER monthly
What does the income statement examine? - ANSWER revenue, expense, and profit
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This ratio explains the leverage of a firm. - ANSWER debt ratio
An accounting method that measures the performance and position of a company by recognizing economic events regardless of when cash transactions occur. - ANSWER accural
what is used to build the statement of owner's equity. - ANSWER income statement
what is also used to build the statement of owner's equity - ANSWER balance sheet ( as part of owner's equity)
