The Business Quiz - NSIT Quiz Fest - 2013 - Prelims with Answers
Business Quiz Prelims NSIT Quiz Fest 16 March 2013
Q1.• David Goldberg is currently the CEO of SurveyMonkey. He was the GM of Music at Yahoo! before becoming an entrepreneur-in- residence at Benchmark Capital. In August 2001, Prior to founding LAUNCH, Mr. Goldberg was Director of Marketing Strategy and New Business Development at Capitol Records in Los Angeles, California and before Capitol, Mr. Goldberg worked as a management consultant at Bain & Co.• Who is his more famous wife?
Q2*.• Who was the man behind the ‘Irresistibubble’ ad campaign for the Nestle Aero chocolate?
• Salman Rushdie. He wrote Midnight’s Children while working at Ogilvy.
Q3. ID.• In a 2011 TechCrunch analysis of X, writer Rakesh Agrawal likened its business model to loansharking.• “X is essentially holding a portfolio of loans backed by the receivables of small businesses," he wrote. "If a business goes under, consumers will come back to X for their money back. Unless X is actually doing credit assessments on businesses that it chooses to feature, this is a big risk for X."
Q4.• This legendary 74-year-old was nicknamed the “Napoleon of Wall Street”.• Among his varied business interests was the International Mercantile Marine, the shipping combine that controlled Britain’s White Star Line, owner of the Titanic. He attended the ship’s launching in 1911 and had a personal suite on board with his own private promenade deck and a bath equipped with specially designed cigar holders. He was reportedly booked on the maiden voyage but instead remained at the French resort of Aix to enjoy his morning massages and sulfur baths.• “Monetary losses amount to nothing in life,” he told a visiting New York Times reporter days after the sinking. “It is the loss of life that counts. It is that frightful death.”• Who ?
Q5.• X shares its name with a line of organic skin care products as well as a luxury resort, all owned by the same holding company. A favourite among Hollywood celebrities, it was also mentioned in Agatha Christie’s Murder on the Orient Express. In 2009, it launched the advertisement campaign “X Roller Babies”, which won a Gold Award at the London International Awards 2009 for Best Visual Effects.
Q6.• X was originally formulated in 1957 by General Foods Corporation scientist William A. Mitchell. Sales of X were poor until NASA used it on John Glenn’s Mercury flight, and subsequent Gemini missions. Since then it has closely been associated with the US manned spaceflight program. X?
Q7.• X came into existence when the Duke of _________ instructed his workers to make amendments on the standard 18th century design.• X were at first made of leather. However, in 1852, Hiram Hutchinson met Charles Goodyear, who had just invented the vulcanization process for natural rubber. While Goodyear decided to manufacture tyres, Hutchinson bought the patent to manufacture ________ and moved to France to establish Y ("To the Eagle") in 1853, to honour his home country. Y is credited with the invention of the form as we know it today. In a country where 95% of the population were working on fields with wooden clogs as they had been for generations, the introduction of the wholly water-proof X became an instant success.
Q8. Which term ?• This term was coined by Bud Tribble in 1981, who claims that the term has its origins in Star Trek. It is sometimes used as a derogatory remark to criticize Apples products.• ________ is the idea that Steve Jobs is able to convince people to believe almost anything with charisma, bluster, exaggeration, and marketing. _______ is said to distort an audiences sense of proportion or scale. Small advances are applauded as breakthroughs interesting developments become turning points, or huge leaps forward.
Q9.• The Nickname of Everton Football Club is believed to have come from the ______ that a shop adjacent to their home ground sold, including a particular product on match days. The business near the ground named Mother Nobletts ______ Shop which advertised and sold _______, including the special Everton ______* on match days.• What product am I talking about ?
Q11. X & Y please.• On 16 December 2009, X accepted a "challenge" from Y, a rival and the owner of a fellow F1 newcomer racing team. The losing teams boss (the team which finished lower at the end of the season) would work on the winners company for a day dressed as a stewardess.• X joked "The sexier the better. Our clients will be delighted to be served by a Knight of the Realm, but knowing Y, the real challenge will be to prevent him from asking our guests coffee, tea or me? That would be scary.“• Y lost the bet. However, the day of honoring the bet was delayed several times (first because of Y breaking his leg, then for unknown reasons), and Y did not participate. On 19 December 2012, X announced that Y would keep his word on May 2013.
Answer: X – Tony Fernandes; Y – Richard Branson
Q12.• Australia is the only country where this brand does not operate under its name as when this company began its Australia operations, it found out that this name was already trademarked by a takeaway food shop in Adelaide.• As a result, the Australian franchisee, Jack Cowin, selected the "Hungry Jack" brand name, one of the company’s parent’s US pancake mixture products, and slightly changed the name to a possessive form by adding an apostrophe "s" forming the new name Hungry Jacks.• After the expiration of the trademark in the late 1990s, the group unsuccessfully tried to introduce the brand to the continent. After losing a lawsuit filed against it by Hungry Jacks ownership, the company ceded the territory to its franchisee.• Hungry Jacks is now the only X brand in Australia; with X only providing administrative and advertising support to ensure a common marketing scheme for the company and its products.• X?
Q13. X?• It was founded in 1947 by Anthony T. Rossi in Bradenton, Florida.• In 1947, Rossi settled in Palmetto, Florida, and began packing fruit gift boxes and jars of sectioned fruit for salads under the name Manatee River Packing Company. As the fruit segment business grew, the company moved to a larger location in east Bradenton, Florida, and changed its name to Fruit Industries. The ingredients for the fresh fruit salads on the menu of New York’s famed Waldorf- Astoria Hotel were supplied by Fruit Industries.• In 1952, with a certain future business in mind Rossi purchased the Grapefruit Canning Company in Bradenton. The new segment was so successful that he discontinued production of fruit boxes. He developed flash pasteurization in 1954 and X became the company’s flagship product. In 1957, the company’s name was changed to X Products, Inc. to reflect the growing appeal of the X brand.
Q14*.• _____________________, or _______ , is a multinational banking group. It was formed in 1999 from the merger of two banks , both of which in turn had previously amalgamated three important banks in Spain, namely Banco de Bilbao, Banco de Vizcaya and the state-owned Caja Postal de Ahorros, with other minor entities. _____ is the7th largest financial institution in the Western world with a market capitalization of over 61 billion Euros and the second largest bank of its country. The bank has recently focused on overseas expansion, and now operates in 40 countries. The bank enjoys a dominant position in Spanish-speaking Latin American countries. It also has a strong presence in southern European countries, especially Portugal and Italy, and has expanded into the United States and in Asia.
Answer:• Banco Bilbao Vizcaya Argentaria (BBVA)
Q15*.• In 1783, in Geneva, Switzerland, Jacob _______ independently developed a process of adding carbonation to mineral water and ___________ was born.• It includes a variety of carbonated waters and ginger ales. Its drip marketing campaign made heavy use of an onomatopoeia in their commercials: “______.... ___________," after the sound of the gas escaping as one opens the bottle.
Q16*.• He runs a core business of bidis and tobacco called Ceejay Tobacco and is widely known as the Bidi King of India. The company employs 60,000 people in various businesses including real estate, finance, pharma, edible oil and packaging and has a turnover of around Rs 400 crore. Who?
Q17.• In WW2, when there was an immense shortage of spare parts and gasoline, this man invented an automobile part which when fitted in cars propelled them with charcoal.• He also designed and produced a Gas plant, and ran a rubber retreading factory.• What started as a single man’s passion soon became the business of the family. What billion dollar business group did he found?
Q18.• The company traces its roots to the Schwarzchild & Sulzberger company (later changed to Sulzberger & Sons) based in NYC that operated meat packing plants in New York, Chicago and Kansas City. Sulzberger founded the Ashland Manufacturing Company in 1913 to use animal by-products from its slaughterhouses. In 1915, Thomas E. ______ , former president of meatpacker Morris & Company, was appointed President and renamed the company after himself. Today, the company is headquartered in Chicago and is a foreign subsidiary of a Finnish company.
Q19*.• The name _____ became popular for businesses by the 1920s, when alphabetized business telephone directories such as the Yellow Pages began to be widespread. There were a flood of businesses named _____ (some of these still survive). For example, early Sears catalogs contained a number of products with the “_____" trademark, including anvils, which are frequently used in Warner Bros. cartoons. What?
Q20. Id X and Y.• X traces its roots to a textile manufacturing company established by Oliver Chace in 1839 as the Valley Falls Company in Valley Falls, Rhode Island.• In 1962, Y began buying stock in X after noticing a pattern in the price direction of its stock whenever the company closed a mill. At this time, X was run by Seabury Stanton.• Eventually, Y acknowledged that the textile business was waning and the companys financial situation was not going to improve.• In 1964, Stanton made a verbal tender offer of $111⁄2 per share for the company to buy back Ys shares. Y agreed to the deal. A few weeks later, Y received the tender offer in writing, but the tender offer was for only $113⁄8. Y later admitted that this lower, undercutting offer made him angry. Instead of selling at the slightly lower price, Y decided to buy more of the stock to take control of the company and fire Stanton (which he did). However, this put Y in a situation where he was now majority owner of a textile business that was failing.
Q21.• The gentleman in the picture below lends his name to a class of goods. Alfred Marshall attributed this idea to him in his book Principles of Economics. He first proposed the paradox from his observations of the purchasing habits of the Victorian era poor.• “As Mr. X has pointed out, a rise in the price of bread makes so large a drain on the resources of the poorer labouring families and raises the marginal utility of money to them so much that they are forced to curtail their consumption of meat and the more expensive farinaceous foods: and, bread being still the cheapest food which they can get and will take, they consume more, and not less of it.”• —Alfred Marshall, Principles of Economics (1895 ed.)