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Devry BUSN115 final exam 2014

Page 1

Question 1.1.(TCO 7) The relationship between a PERT chart and a Gantt chart includes which of the following? (Points : 5)

A Gantt chart is used for forecasting sales.
A PERT chart is used for measuring progress.
They are both considered to be control procedure monitors.
Both use a critical path to delineate the flow of materials.
A PERT network can be made up of thousands events over many months.

Question 2.2.(TCO 7) Operations management includes (Points : 5)

facility location but not layout.
facility layout but not location.
capacity planning.
holding output steady while lowering costs.
None of the Above.

Question 3.3.(TCO 8) The era of sustainability has entered into distribution as well as the other aspects of marketing. Given this information, (Points : 5)

the decision of what distribution mode to use is less complex than first imagined.
emissions from air freight are lower than rail shipping.
emissions from air freight are higher than ocean shipping.
motor transportation is more fuel efficient per ton-mile than rail.
transportation accounts for one third of carbon dioxide emissions.

Question 4.4.(TCO 8) If there is one thing that advertisers agree upon, it is the growing importance of social media in product promotion. Given this information, (Points : 5)

investing in social media hinders a company in reaching its goals.
social media needs to work hand in hand with other channels.
social media reaches old audiences that have new devices.
nontraditional audiences are the new target for social media.
social media and direct mail are complementary to one another.

Question 5.5.(TCO 1) You own a hardware store in the small town where you live. A big-box, multiline competitor has just opened. You see the following as your advantages of maintaining your market share and continued sales revenue. (Points : 5)

Strictly adhere to your previous five-years business plans
Providing improved customer service
Increasing your inventory levels
Opening a branch store across the street from the big box
Charging your customers for consultation time when they ask for advice

Question 6.6.(TCO 1) As a pharmacist in your community, you are concerned with the level of service provided to those in need at odd hours and after hours and in the neighborhoods where such extended service is needed. Your concerns are centered on which of the following? (Points : 5)

Making products and counseling available when consumers need them
Changing the buying behaviors of consumers
Understanding the risks of some of the products offered for sale
Doing whatever is necessary to provide credit through debit cards and credit cards
Providing open and free-flowing communication to the consumers

Question 7.7.(TCO 1) A technique that combines all the promotional tools into one comprehensive, unified promotional strategy includes _____. (Points : 5)

The creation of a positive brand image
Meeting the needs of distributors
Meeting the strategic marketing goals of your main supplier
Meeting the needs of the indigent in your community
Meeting profit expectations of external investors

Question 8.8.(TCO 2) There have been reports of cell phone service sales representatives who actually lie to get customers to extend their contracts or even extend their contracts without the customers’ knowledge. Some phone reps intentionally hang up on callers to prevent them from canceling their contracts. Why do these sales reps sometimes resort to overly aggressive tactics? (Points : 5)

Excellently designed incentive programs reward them tax free
Salaries can be reduced by half in such instances
Their managers say, “Deceive the customers.”
Overly ambitious goals and incentives create an environment in which people can learn and grow.
Overly ambitious goals and incentives create an environment in which unethical actions are tolerated.

Question 9.9.(TCO 2) The Uniform Commercial Code includes _____. (Points : 5)

Laws that cover promissory notes and checks
Legally enforceable agreements between two or more parties
Bills in the form of Accounts Payable
Laws that cover international transactions
Invoices in the form of Accounts Receivable

Question 10.10.(TCO 2) The change in U.S. business from manufacturing to knowledge-based technology has created new regulatory challenges for federal agencies. This means _____. (Points : 5)

The government’s resolve to pursue corporate income tax evasion cases has increased
Competition is a cornerstone of a knowledge-based economy.
Antitrust oversight has always been the rule.
The definition of competitive advantage has been limited
Antitrust issues will persist in the future.

Question 11.11.(TCO 3) One advantage of offshore outsourcing is _____. (Points : 5)

Less strategic tasks can be sourced so that companies can focus on sales and marketing
Communication among company members, suppliers, and customers is problematic.
Outsourced work allows companies to create efficiencies that in fact let them fire more workers.
Consumers benefit from lower prices generated by effective use of global resources and developing nations.
Offshore outsourcing may reduce product quality and can therefore cause damage to a company’s reputation.

Question 12.12.(TCO 3) Nations trade with other nations because _____. (Points : 5)

They can produce all the products their people want and need.
Buying and selling products is allowed by international treaty.
Sophisticated technology allows for the improved use of natural resources.
Buying and selling products is allowed by verbal contracts.
They are able to buy what is needed in a mutually beneficial exchange relationship.

Question 13.13.(TCO 3) In 1948, a global forum was created whose purpose it was to reduce trade restrictions on goods, services, ideas, and cultural programs. The result of the efforts of this organization includes _____. (Points : 5)

The creation of regional alliances
Increase of tariffs worldwide
Expansion of new trade rules to areas like agriculture
The protection of the value of the dollar
Overcoming constraints and decrease business opportunities

Question 14.14.(TCO 4) Starting your own business(Points : 5)

Is an alternative to unemployment.
Is not risky.
Allows others to control your future.
Is not difficult and does not require sacrifice.

Question 15.15.(TCO 4) A disadvantage of a corporation is _____. (Points : 5)

Simplified tax returns
Simplified Record Keeping
Simplified operations in overseas markets
Difficulty of termination
Perpetual life

age 2

Question 1.1.(TCO 5) Which of the following pairs represent an advantage and a disadvantage of marketing to a mobile phone rather than a fixed computer (Points : 5)

Mobile phone users are accustomed to advertising interuptions while fixed computers have limited links to retailer websites
The mobile phone is operating most of the time but the interactivity is less than a fixed computer
The screen size of fixed computers is larger but screen enlargement overcomes that limitation in mobile phones
Fixed computers can provide advertising based on where you happen to be while mobile phone advertisements are limited to product categories

Question 2.2.(TCO 4) To look at problems and/or passions and see opportunities in them, which of the following questions should be asked? (Points : 5)

Where can I find a solution?
What services would improve society?
What products would improve my life?
What products are least significant?
What products would improve all mankind?

Question 3.3.(TCO 5) Electronic wireless technology continues its move toward ubiquity. Such media inculcates: (Points : 5)

National market information
International market information
Client information
Company information
Competitor information

Question 4.4.(TCO 5) You are an independent Internet Marketing Consultant. You have an excellent track-record of assisting small to medium sized companies fully realize their marketing potential through an improved and enhanced presence on the world-wide-web. Mr. Top Hatt, the owner of a small pet-grooming salon (Hatt’s Cat Grooming Emporium) specializes in the care and grooming of cats and only cats has just called you. Mr. Hatt has heard of the Internet but doesn’t know much else. He would like for his cat grooming business to grow by using the Internet but doesn’t know what to do. A recommendation is: (Points : 5)

Building and improving relationships with customers
Online advertising to get potential customers to the website
Announcing weekly sales promotions so customers will make a purchase
Information to competitors and near-competitors
Website software to send “spam” email messages

Question 5.5.(TCO 6) An element of Planning is: (Points : 5)

Providing constructive feedback
Determining reconstruction needed
Promulgating financial statements
Setting precise standards
Establishing standard procedures

Question 6.6.(TCO 6) You have been recently hired as the new Employee Development and Training Director at a small utility engineering company. Your boss, the company founder as well as President and CEO of the firm has specifically asked your assistance in finding a way to improve creativity in his engineers through a process called job enrichment. You have thought about this for a few days and now feel that it is necessary to meet with your boss to present your ideas concerning motivation and performance. One idea that you would present to him is: (Points : 5)

The extent to which a job demands the same skills
The degree to which the job requires doing a task with a visible outcome from beginning to end
The The degree to which the job has an insubstantial impact on the lives or work of others
The degree of indiscretion in scheduling leisure time
The amount of direct and clear information given about team goals

Question 7.7.(TCO 6) The steps to Mining Group Gold include: (Points : 5)

Defining the behavioral parameters of a unique subset of cultures
Establishing a zone of proximal development
Setting expectations for reasonableness of the ideas presented
Establishing clear and concise expectations of factual information
Conducting a series of time-checks throughout the meeting

Question 8.8.(TCO 7) One development that has changed production techniques is the integration of computers into the design and manufacturing of products. One process that this includes is: (Points : 5)

Process manufacturing
Intermittent process
Computer-aided design
Flexible manufacturing
Process flexible-aided design

Question 9.9.(TCO 8) The Marketing Manager is responsible for choosing how to implement which one of the following: (Points : 5)

Production capacity
Reselection consideration
Earnings before interest and taxes

Question 10.10.(TCO 9) Using social media is an important component in today’s business environment. Partnering with customers in this manner includes which one of the following:(Points : 5)

Understanding broadband technology, such as fiber-to-the-home
Allowing network capacities to maximize
Understanding the impact of your telephone system
Being disingenuous to customers
Responding to customers in a timely manner

Question 11.11.(TCO 9) Collaboration software allows multiple users to work on the same document at the same time. It also facilitates videoconferencing so that participants can see and hear each other regardless of where they are. One advantage of using such software is: (Points : 5)

Multiple locations for the information being edited and saved.
Multiple copies of the information so back-ups are not necessary.
The software is considered shareware and is therefore not copyrighted.
The software being considered public domain software and free for the taking.
Multiple locations where the information is stored provides quick access.

Question 12.12.(TCO 9) Which of the following does NOT assist professional and managerial business information systems: (Points : 5)

High-level tasks such as new product design
Analyzing the organization’s financial information
Planning relatively short-term/tactical objectives
Identifying trends within the industry
Transaction processing systems to further assist with the daily flow of data

Question 13.13.(TCO 10) The role of information technology has changed since the days when it was known as data processing. You have been hired as the new manager of the IT department for Megalopolis Corporation. Megalopolis Corporation manufactures and sells barbecue grills to the middle-upper end of the market. Demand continues to be strong for all products. However, providing service (both warranty and non-warranty) continues to be a challenge. In essence, having the right parts at the right place at the right time is not an easy task. Given this information, one of your “must-do-first” priorities is: (Points : 5)

Reviewing current operations in the IT department to determine processes that can be made more efficient.
Explore the possibilities of providing real-time manufacturing and shipping data to your competitors.
Review the information that is gathered by the customer relations staff that might assist in degrading existing customer relationships.
Review the non-warranty ordering process to deteriorate communications with suppliers.
Exploring new markets through an improved online presence of the company.

Question 14.14.(TCO 10) Financial accounting includes which one of the following: (Points : 5)

The preparation and distribution of an a periodic report
A summarization of the costs of production
The preparation of departmental budgets
Compliance with the Financial Accounting Standards Board (FASB) guidelines
Reviewing and evaluating the information used to prepare a company’s financial statements

Question 15.15.(TCO 10) Imagine that you have just earned your business degree and have been hired as a hospital administrator at a small hospital that, like many others, is experiencing financial problems. A suggestion that you would make to help improve the financial position of the hospital and correct the financial problems is: (Points : 5)

Improve the efficiency of the hospital’s cash management system
Use a carefully planned lawn care service
Continue the hospital’s large stockpile of drugs
Cease using a just-in-time inventory system
Use a carelessly planned inventory control system

Page 3

Question 1. 1. (TCO 1) The latest economic news is not very positive. Unemployment rates are higher than expected, consumer confidence has fallen, and companies are reporting layoffs are in order. The Federal Reserve chairman acknowledges the economy is in a recession. What actions might the federal government and the Federal Reserve take to give the economy a boost? What are these policies called? (Points : 10)

Question 2. 2. (TCO 2) Identify and discuss the social responsibilities of Home Depot to three different stakeholder groups. (Points : 15)

Question 3. 3. (TCO 3) Discuss the positive aspects of globalization, and contrast these with the negative aspects of globalization from the perspective of a small business. Be sure to address the pros and cons of outsourcing in your response. (Points : 15)

Question 4. 4. (TCO 4) Identify and explain the incentives for entrepreneurship. Address why someone would willingly take the numerous risks associated with running a business. Also, discuss the major attributes necessary for a successful entrepreneur. (Points : 15)

Question 5. 5. (TCO 5) Aside from retail sales and marketing, identify and discuss two ways that a business could reduce costs or increase profits by using the Internet or web applications. (Points : 15)

Question 6. 6. (TCO 5) Describe the stages and consumer passes through when making a purchase decision. Give examples of each stage. (Points : 15)

Question 7. 7. (TCO 7) Given the following companies—Boeing (airliner manufacturer) and Dell Computer (computer manufacturer)—which facility layout would be the most suitable for each? Justify your response. How would each company determine the location of its facilities? List the specific needs and requirements of each company when determining location. (Points : 15)

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