Business Acumen C201 PDF

Business Acumen C201 Study online at https://quizlet.com/_2hic19 Which part of the organizing process aids in effective and efficient Evaluating results progress toward...

Business Acumen C201 Study online at https://quizlet.com/_2hic19 Which part of the organizing process aids in effective and efficient Evaluating results progress toward planned goals and often results in changes within the organization? What is the result of a company increasing the delegation of Increased number of direct reports per manager authority and the span of control? Human interaction, structure Which two key elements does an effective organization include? Why does a line organizational structure function most effectively It established a direct flow of authority in a crisis situation? 1) Define job requirements, 2) Contact and visit colleges for appli- cants/interns, 3) Conduct employment tests, 4) Review resumes, Number the seven steps in the recruiting and interviewing process 5) Conduct candidate interviews, 6) Follow up interviews, 7) Hiring from first to last. determination Which primary driver does management use for an organization's Achievement of company goals structure? Which step in the organizing process results in management Departmentalization group work activities into units within the organization? A high tech startup company is launching a marketing campaign for its new social media portal by highlighting how the portal Customer loyalty exceeds the connectivity and collaboration capabilities of all other social media sits. Which type of competitive advantage is this company leveraging? Which marketing strategy is devoted to maintaining continuous Everyday low pricing bottom line prices than relying on short term price cutting tactics such as cents off coupons, rebates, and special sales? When would a pull promotional strategy enhance a competitive When demand for the product is driven by the end user advantage to market a product better than a push strategy? Which marketing tool is essential to building an effective relation- An affinity program ship marketing campaign? Which element of the promotional mix has the advantage of mes- Personal Selling saging that can be tailored for each customer, but the disadvan- tage of a high cost per contact? Target Market, Sales revenue goals, Plan implementation timeline What three factors should be addressed in a successful marketing (not on list, marketing budget) plan? Choose 3 answers. Which three characteristics are measured in demographic seg- Race and ethnicity, Income, Household size mentation? Choose 3 answers Buyers face organizational influences in addition to their own In which three ways does business-buying behavior differ from preferences, purchasers often invite selected providers to bid on consumer-buying behavior? Choose 3 answers a purchase, a group or committee often makes decisions Which three conditions, in a global selling environment, should cultural homogeneity, mobility of labor, local labor costs a small company leverage to create a competitive advantage? Choose 3 answers With which two types of products does a marketing strategy rely Consumable supplies, accessories to primary products on advertising more than personal selling? Choose 2 answers. After years of marketing a body lotion, a cosmetics company Adding new users, finding new uses for the product, increasing begins promoting the lotion as an the lotion as an insect repellent frequency of use. as well. In which three product life cycle extension strategies did this company engage? Choose 3 answers It conveys an image, it depicts trademark protection, it reflects What are three ways that an effective brand name can influence brand equity. consumer product recognition? Choose 3 answers A customer has purchased a product twice and intends to do so Brand preference again. Which stage of brand loyalty is this customer in? Which manufacturer distribution model is enhanced by the ship- retail ping and tracking capabilities of a global package delivery ser- vice? 1/7  Business Acumen C201 Study online at https://quizlet.com/_2hic19 Planning the overall production process, implementing the pro- Which three tasks are key responsibilities of operations man- duction plan, determine the best layout for the firm's facilities. agers? Choose 3 answers A JIT system seeks to eliminate anything that does not add value Which two characteristics does a Just-In-Time (JIT) System have? in operations activities, production using JIT reduces a firm's Choose 2 answers inventory costs. Which aspect of operations management do the ISO 9000 Stan- Establishment of effective quality systems? dards address? Which manufacturing model uses technology to produce small Flexible runs of customized products cost effectively? Limited function merchant wholesaler, full function merchant Which two of the following distribution channels would take title of wholesaler the products they handle? Choose 2 answers Which economic graph is used by organizations to regulate pro- Demand curve duction by predicting the amount of product buyers will purchase at different prices? Which two factors drive demand in a microeconomics system? Customer preference, price of substitute goods Choose 2 answers How does a sudden shortage of a commodity product affect the There is no immediate effect on demand immediate demand for the product at its current price? Which two impacts result from a nation's increase in productivity? Economy expands, Personal wealth increases Choose 2 answers For which two purposes will the U.S Federal Reserve System To encourage bankers to make loans, to cut the cost of borrowing follow an expansionary monetary policy? Choose 2 answers Which two economic impacts should a manager anticipate when An increase in overall cost of debt to private borrowers, an in- the U.S. government reduces the number of Treasury bills, Trea- crease of funds for public services sury Notes, and Treasury bonds it sells? Choose 2 answers Analyzing major investment decisoins What is one role of a financial manage? Which two activities are finance activities rather than accounting Making capital market investments, creating a financial plan activities? Choose 2 answers Which three sources should a business consider when seeking a Hedge funds, Venture capital, public sale of stocks long-term source? Choose 3 answers In which type of security should a business invest its excess cash Commercial paper in anticipation of paying off the current year's tax liability? Which role does the underwriter play in financing business opera- It insures the value of the security to the investor tions when using the capital market to sell securities to the public? to determine the accuracy of forecasted revenues, costs, and Why should a manager use financial controls in a firm's financial expenses plan? What does a CFO use in financial planning to determine the Sales forecast plus non-sales revenue expected level of revenue for future periods? How did the Dodd-Frank Wall Street Reform and Consumer Pro- capped the debit card fee at 21 cents tection Act impact retailers? Selling company stock because a co-worker told the employee the company's new drug is failing in clinical trial, buying stock in Which two activities are prohibited by insider trading laws and the public company for which the employee works based on a should be avoided by a firm's employees? Choose 2 answers 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 Volatility of interest rates, frequent renewals long-term assets with short-term funding sources? Choose 2 ansers Which funding source should a firm use if it wishes to secure private equity fund long-term financing while retaining all of its equity? It has a maturity that ranges between 1 and 270 days, it carries Which three characteristics make commercial paper a low-risk, interest rates that are 1 to 2 percent less than bank loans, it can attractive source of short-term funding for a business? make large amounts of money available 2/7  Business Acumen C201 Study online at https://quizlet.com/_2hic19 What should a firm do to manage the risk of using leverage when Ensure that earnings remain larger than interests payments exploring long-term funding options? Which financial statement should an investor examine to identify The balance sheet the liabilities of a firm? A company wishes to determine if it should fund a project with leverage bonds or equity. Which business concept would it most likely use to assist in the decision? net income divided by average equity Which calculation determines a firm's return on equity? Why should companies that are conservative investors with liquid- it converts easily to cash ity concerns invest their excess cash in money market funds? Which regulatory relationship with the Securities and Exchange FASB requires companies to comply with GAAP that differ from Commission (SEC) historically has acted to prohibit the U.S. from IFRS adopting the International Financial Reporting Standards (IFRS)? Which users of financial statements use the financial statements owners and creditors to evaluate operations of the firm and to make investment deci- sions? The Database What is considered the heart of any information system? Which type of information system should be accessed by the vice A transaction processing system president of sales for a national department store chain who wants to see the previous day's sales receipts? employers are enabled to work remotely with secure connectivity How does a virtual private network contribute to a firm's workforce to the corporate network via the internet productivity? Through better resource utilization, through elimination of appli- What are three ways cloud computing services enhance company cation downtime, through dedication of resources to each user productivity? Choose 3 answers For which type of communication should employees have an Personal letters sent through the company mail room ethical expectation of privacy from company monitoring? Which activity raises ethical issues heightened by the capabilities Selling customer data for external marketing research of data mining? The intent to report on a user's internet activity Which intent of spyware creates a company security issue? A company might divide itself into smaller groups that best match departmentalization. the types of customers it service. this is an example of output (goods or services) / input (human, natural resources, Total productivity capital) current assets / current liabilities Liquidity ratio current assets - inventory / current liabilities acid test cost of goods sold / average inventory (average of 2013 + 2014) inventory turnover credit sales / average account receivables (average of 2013 + receivables turnover 2014) sales / average total assets total assets turnover the firms abilities to meet its short term obligations and include the what ratios are considered liquidity ratios liquidity ratio and acid test measue managements use of the firms resources and include all what ratios are considered activity ratios turn over ratios gross profit, net profit, and return on equity what ratios are considered profitability ratios gross profit / sales gross profit margin net income / sales net profit margin net income / average equity return on equity measure the extent to which a firm relies on debt financing and what are leverage ratios includes debt ratio and long-term debt to equity total liabilities / total assets debt ratio 3/7  Business Acumen C201 Study online at https://quizlet.com/_2hic19 long-term debt / owner's equity long-term debt to equity decisions what do management use support systems for operational support systems information systems for activities fall under which support system which of the two information systems are operational support process control system, transaction process system systems management a decision support system (DSS) belongs to which support system no is ethical and legal the same thing when two or more users connect using Ethernet or WiFi to the local area network (LAN same server to share printers or other information mobility, expansion of LAN what are advantages to WiFi the coordination of all promotional activities - media advertising, integrated marketing communications direct mail, personal selling, sales promotion, and public relations - to produce a unified, customer-focused message. used in the growth and maturity stage of the product life cycle to persuasive advertising improve competitive status of a product. compares products directly with their competitors ether by name comparative advertising or by inference advertising to maintain awareness of the importance and useful- reminder-oriented ness of a product potential buyers will request that their suppliers-retailers or local pulling strategy distributors - carry the products thereby pulling it through the distribution channel companies promote the product to members of the marketing pushing strategy channel, not to end users concentrating marketing efforts on the product (features, quality, competitive pricing value), distribution, and promotional elements of the marketing mix. specialty, shopping, convenience three different product types specialty which of the product types is purchased most infrequently introductory, growth, maturity, decline what are the four stages of the product life cycle which stage of the product life cycle requires focusing on attracting maturity the competitors customers competitive advantage which advantage does brand loyalty provide imsistence the highest form of brand loyalty is true brand preference is a higher form or loyalty than brand recognition a brand is recognized by potential customers, and is correctly brand awareness associated with a particular product brand association connect the brand to the a positive image (GE to eco friendly) retailer and broker what are marketing intermediaries wholesaler using what can make a price cheaper to a consumer marketing intermediaries what adds value to a product achieve organizational goals what is the purpose of a strategic marketing stratey team what is not a non-traditional marketing technique what is a non-traditional marketing technique you would use to people market yourself as a real-estate agent marketing mix the 4 P's product, place, promotion, price make up what name three personal, determinants that influence your consumer learned experience, perception, self-concept behavior demographic and geographic what market segmentations are used in B2B and B2C 4/7 Business Acumen C201 Study online at https://quizlet.com/_2hic19 targeting consumer markets based on lifestyle is what kind of psychographic segmentation the advantage of being able to offer a product at a much lower comparative advantage price than a competitor is new businesses B2B relationship marketing is easier to create with mass which type of production carries the highest inventory customer driven which type of productions has little to no finished inventory which type of production utilizes the most information technology flexible (automation). which type of production requires the highest level of skilled work- mass production ers accuracy, faster what are two advantages to computer aided manufacturing what do we call a facility hat can utilize computer-integrated man- lights out facility ufacturing to produce a product from start to finish the computer based planning system used by production man- MRP (materials requirement planning) agers to ensure parts and materials are on hand a process lay-out where all of the materials must be brought to the fixed-position product being manufactured this type of process lay-out is used when we have an assembly product line high quality, decreased cost what is the outcome of good production managment increased quality at a lower cost what increases satisfaction and dependability no more than 3-4 defects per 1 million opportunities is the best sis-sigma outcome of which quality methodology which policy is used to manage the economy using government fiscal spending and taxation which type of unemployment is the employee expecting to be sesonal unemployed for a portion of the year which type of unemployment is a result of not having necessary structural skills for a job a specific economic situation when price and demand rise togeth- inflation er as a business is it best to reduce spending or increase spending reduce in a high-inflation environment as a business which environment is best to make captial improv- low-inflation ments monopoly which type of competition requires government regulation for entry pure which type of competition is the easiest to enter demand curve what is the name of the graph that we use to demonstrate demand equilibrium price what is the point where supply and demand curves intersect is the study of supply and demand a micro or macro economic micro issue macro when federal taxes are reduced is that micro or macro when a tariff is increased on importing produce, is that micro or macro-economics macro middle, supervisory, top name the three tiers of management achieving organizational objects management is the process of tactical which level of planning does the middle manager complete all levels what levels of management contribute to the contingency plan 5/7  Business Acumen C201 Study online at https://quizlet.com/_2hic19 technical, human, conceptual skill required for managers Departmentalizing based by domestic and international is which geopgraphical kind of departmentalization? functional, process Pick two types of departmentalization. An organizational structure that is slow to make decisions because committee they look for consensus. You may report vertically and horizontally in this organizational matrix structure, millenials what group likes structure 1980 What is the earliest year a Millennial would have been born? Human interaction, Goal-directed activities, structure There are three key elements to an organization. What are they Who uses the sales forecast indicates where necessary funds will CFO come. what revenue is not considered by the CFO for origin of necessary non-sales funds for the planning period. The amount of assets a firm will need to support the forecast for asset intensity a planning period. A firm pays taxes on profits that are repatriated as part of global yes operations. (yes or no) An accounting method that helps a firm reduce the disparity in balance sheet hedge exchange rate. Creditors will accept a lower rate of return than investors Select a reason dept capital is cheaper than equity capital. If a firm has more equity capital then debt capital will the share- less holders have more or less control? three year fixed interest loan Which of the following is not short-term financing? securities Money market instruments, bonds, and stocks are types of what? bonds and money market instruments Which of the following are debt securities? common Which type of stock is the basic ownership of a firm? preferred The benefit of this stock is first claim to assets if the firm dissolves. dividends what is fixed for preferred stock holders. an unsecured bond What is a debenture? money market instrument Which of the following is the most liquid? FDIC Insures deposits at commercial and savings banks State-chartered banks have to be members of the FED. (true or false false) Federal Reserve System (FED) The central bank of the United States who can increase and decrease the money supply by buying and FED selling Treasury securities. Protects investors by pursuing civil actions against businesses for SEC violations. Which financial statement provides managers a picture of cash statement of cash flows needed for day-to-day operations? balance sheet Which financial statement is a permanent statement? Which two financial statements would be reviewed by potential Statement of owner's equity and balance sheet buyers? statement of cash flows (depreciations) Depreciation is a non-cash expense on which statement? Which ratio is considered satisfactory liquidity using the liquidity 2:1 ratio? 6/7 Business Acumen C201 Study online at https://quizlet.com/_2hic19 1:1 Which ratio is considered adequate liquidity using the quick ratio? $2.50 in assets for every $1.00 in liability What does a calculated liquidity ratio of 2.5 indicate? high inventory turnover ratio Which indicates better performance in inventory turnover? to gain leverage Why do we avoid an over-reliance on borrowing? monthly How often do firm's prepare a cash budget? revenue, expense, and profit What does the income statement examine? debt ratio This ratio explains the leverage of a firm. An accounting method that measures the performance and posi- accural tion of a company by recognizing economic events regardless of when cash transactions occur. income statement what is used to build the statement of owner's equity. balance sheet ( as part of owner's equity) what is also used to build the statement of owner's equity 7/7