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Questions and Answers
What is the primary role of managers in a company?
What is the primary role of managers in a company?
- To lead and control company's resources (correct)
- To prepare financial statements
- To improve product offerings
- To aggressively promote the company's brand
How does competition influence businesses?
How does competition influence businesses?
- By promoting individual economic freedom and limiting government intervention
- By increasing prices and reducing product offerings
- By reducing the need for customer satisfaction
- By forcing companies to improve product offerings, lower prices, and focus on customer satisfaction (correct)
Who are considered stakeholders in a business?
Who are considered stakeholders in a business?
- Only the bankers and management
- Customers, vendors, employees, landlords, bankers, and others with legitimate interest in the success or failure of the business (correct)
- Only the vendors and landlords
- Only the customers and employees
What type of business has outlets throughout the country and provides goods or services to virtually every citizen?
What type of business has outlets throughout the country and provides goods or services to virtually every citizen?
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Which type of business often suffers from undercapitalization, occurring when business owners cannot obtain enough funding for their businesses?
Which type of business often suffers from undercapitalization, occurring when business owners cannot obtain enough funding for their businesses?
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Which type of business must be aware of all state laws in every state?
Which type of business must be aware of all state laws in every state?
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What is one of the benefits of telecommuting and teleconferencing mentioned in the text?
What is one of the benefits of telecommuting and teleconferencing mentioned in the text?
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How does the Internet contribute to the revolutionary nature of technological changes?
How does the Internet contribute to the revolutionary nature of technological changes?
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In the context of e-commerce, what does B2B stand for?
In the context of e-commerce, what does B2B stand for?
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