BUS 211 Week 2 quiz
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This type of law exists to ensure that people have the skills they need to properly serve the public interest.
Laws relating to the public interest
Laws regulating occupational qualifications
Laws governing business diversity
Laws promoting employee health and safety
What type of information is within a business plan?
Tax penalties, number of personnel, and location of organization
Revenue, profit, and loss
New products, how the organization will compete, and how the organization will organize resources
Past performance and stock price
This is a process of dissolution of a business through which its assets are sold to repay its creditors.
Chapter 13 bankruptcy
Chapter 9 bankruptcy
Chapter 11 bankruptcy
Chapter 7 bankruptcy
What rules can managers employ as guidelines to analyze the effects of their business decisions on stakeholders?
Pragmatism, moral rights, justice, and practical rules
Utilitarian, moral rights, justice, and practical rules
Utilitarian, social contracts, virtue, and practical rules
Relativism, moral rights, justice, and social contracts rules
What is the primary role of a non-managerial employee?
To perform the day–to-day tasks assigned to them as directed
To assign resources and timelines to tasks
To hire, coach, discipline, and fire employees as appropriate
To evaluate the performance of other employees
Laws governing diversity endeavor to motivate employers to
specify the skills, qualifications, and experience people must possess to be hired for government occupations
consider the skills, experience, and ability to do the job versus employee ethnicity, religion, gender, age, and so forth
help promote their survival and increase the profitability of business enterprises
govern how a company should behave to further the public interest
What is a copyright?
It is a form of protection provided to the authors of books, videogames, poems, and songs produced by authors, poets, software experts, and musicians.
It is a word, name, symbol, or device which is used in trade with goods to indicate the source of the goods and to distinguish them from the goods of others.
It is the grant of a property right that is issued to its inventor.
It is the creations of the mind including inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.
Jones (2007) describes a three-stage business plan used by managers. Which of the following is one of the stages?
Answering questions about products from customers
Calling customers to sell products
Assembling raw materials into finished products
Selecting goals and targets for team members
What are the four elements of a SWOT analysis?
Strengths, weaknesses, opportunities, and threats
Systems, weaknesses, obstacles, and threats
Systems, weaknesses, opportunities, and targets
Strengths, weaknesses, obstacles, and targets
A detailed SWOT analysis would classify a poorly designed marketing plan as a
This is the effect of unethical behavior on business commerce.
Unethical behavior becomes a social norm.
Stakeholders internalize the unethical values.
Less capital and wealth are created in society.
Less capital and wealth are accrued in the government sector.
The U.S. Department of Labor Occupational Safety and Health Organization (OSHA) is the government agency primarily responsible for
how the rights of consumers are protected in the marketplace
how companies determine the occupational requirements needed by employees to protect the well-being of society
how companies recruit, promote, and retain people for employment
how companies protect their employees from harm while on the job
When an entrepreneur uses advancing technology to find a new way to make or supply a product, the entrepreneur utilizes which of the following opportunities?
A detailed SWOT analysis would classify competition in the industry or market as a
Which example best describes an organizational opportunity?
A business sells their products to new customers.
A business creates new, more effective ways to increase profitability.
Business identifies and creates a new product.
A business launches and markets a 36-hour sale.
Which of the following people or groups supply a company with productive resources and are affected by the way a company does business?
Which of the following impact ethical practices in business at home and abroad?
Societal ethics, occupational ethics, legal ethics, and environmental ethics
Legal ethics, environmental ethics, individual ethics, and organizational ethics
Societal ethics, occupational ethics, individual ethics, and organizational ethics
Cultural ethics, occupational ethics, legal ethics, and organizational ethics
When is a business plan developed?
When reporting profit and loss
Shareholder meetings discussing past performance
When proposing a new business venture
Which of the following best describes the employee “role”?
The set of guidelines that govern organizational behavior
The set of tasks a person is expected to perform
The nature of employment conditions, pay, and benefits
The experience and minimum skills required for a specific job
The utilitarian rule bases a business decision on which of the following?
What produces the greatest good for the greatest number of people.
What maintains and protects the fundamental rights and privileges of people.
What a manager has no hesitation to communicate to people outside the company, because the typical person in a society would think the decision is acceptable.
What distributes benefits and harm among people in equitable and impartial manner.
This Act was passed by congress to protect air quality and motivate companies to pollute less.
Pollution Prevention Act
Energy Policy Act
Comprehensive Environmental Response, Compensation, and Liability Act
Clean Air Act
What is the definition of a business plan?
An outline of the way a company will use its resources to create products that give it a competitive advantage
A summary of a company’s profit and loss for a specified period of time and its plan for future growth
A highly-detailed, written statement that explains the purpose of creating a new venture
A general overview explaining the purpose of creating a new venture
Which of the following best describes how an employee can increase his or her chances of being promoted inside an organization?
By being routinely confrontational with other employees and questioning the status quo
By being proactive and looking for new ways to improve his or her skills
By ensuring performance remains within the boundaries of the job expectations
By doing what he or she is asked to do and by meeting job requirements
Who has a claim on a company because they own shares?
Which law was enacted to force companies to more fully disclose their financial results and to protect stockholders of the company?
Dodd-Frank Wall Street Reform and Consumer Protection Act
Securities Exchange Act
Investment Company Act
What is a difference between an employee and a manager?
Employees hold each other accountable for success of the business
Employees are responsible for providing vision and leadership
Employees have decision making authority over the organization’s resources
Employees perform the many jobs to make, facilitate, and sell a product
A detailed SWOT analysis would classify a well developed and informed business model as a
Which two types of laws have been enacted to promote a company’s continued existence and profitability?
Incorporation and bankruptcy
Occupational health and safety
Occupational qualifications and diversity
Business and environmental stewards
Which ACT prohibits U.S. companies from paying bribes in order to win contracts abroad?
Securities Exchange Act
U.S. Foreign Corrupt Practices Act
Investment Company Act
Important issues can arise concerning how and when payments are made to this group of stakeholders?
Suppliers and distributors
Which answer contains the three types of entrepreneurial activities?
Financing, selling, and purchasing
Commercial, occupational, and organizational
Business, sales, and training
Evaluating, monitoring, and selling
Which of the following best defines the entrepreneurship process?
Using IT to assemble materials into the final product
Providing both direct and indirect services to customers
Exchanging or selling services to other companies
Acquiring and combining resources to create goods or services for customers to buy.
Anti-trust legislation exists
because it is the government’s job to regulate business
to make it illegal for companies to conspire with one another to limit supply
because it is the express aim of the U.S. government to foster competition
to protect consumers from shortages
There are several advantages a company can gain over its competition by behaving in an ethical way. The main advantage is
How do managers help the company’s stakeholders?
Assembling materials into finished products
Assisting customers with their purchases
Creating profitable goods and services
Providing financing to grow the business