BUSN 115 Inspiring Innovation/tutorialrank.com

BUSN 115 Final Exam (All 3 Sets)
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Question 1.1. (TCO 7) Some of the characteristics of lean systems
include which of the following? (Points : 5)
Question 2.2. (TCO 7) Mass customization means (Points : 5)
Question 3.3. (TCO 8) One scarce item in the future will be water.
Which is the least expensive way to get water from places of abundance
to places of need? (Points :
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)
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. (Select all that apply.) (Points : 5)
Question 6.6. TCO 1) You are fairly good at various and sundry home
repairs. You aren’t very good at electrical things or anything having to
do with plumbing. But you’re great with painting, patching, and general
maintenance on a home. You’re contemplating starting a home repair

business in your town. What are some issues that you can influence and
should be concerned with in launching a new small-business start-up?
(Select all that apply.) (Points : 5)
Question 7.7. (TCO 1) A technique that combines all the promotional
tools into one comprehensive, unified promotional strategy includes
which? (Select all that apply.)
Question 8.8. (TCO 2) A conscious plan that represents and encourages
a unique set of values includes which? (Select all that apply.) (Points : 5)
Question 9.9. (TCO 2) The Uniform Commercial Code includes which?
Question 10.10. (TCO 2) Some regulation of business seems necessary
to ensure fair and honest dealings with the public. The impact of this
statement can best be explained by which of the following? (Select all
that apply.) (Points : 5)
Question 11.11. (TCO 3) Strategies for reaching global markets include
which? (Select all that apply.) (Points : 5)
Question 12.12. (TCO 3) Nations rely on a number of key indicators to
measure global trade. These include which? (Select all that apply.)
(Points : 5)
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 results of the efforts of this organization include

Question 14.14. (TCO 4) The disadvantages of sole proprietorships are
ion 15.15. (TCO 4) A limited liability company has which of the
following advantages? (Select all that apply.) (Points : 5)
Limited liability
Choice of taxation
Flexible ownership rules
Self-employment taxes
Fewer incentives
Page 2
Question 1.1. (TCO 5) In this digital age, setting up shop online is vital
for most retail businesses. But having only an online presence that
customers can access at home isn’t enough anymore. Now consumers
have an array of smartphones and digital tablets that can get them online
from anywhere. For social networks and retailers alike, the mobile
market has already enjoyed tremendous growth. Given this information
as a sales manager for Always Better Car Sales (ABCS), your concerns
include which of the following? (Select all that apply.) (Points : 5)
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? (Select all that apply.) (Points : 5)
Question 3.3. (TCO 5) Electronic wireless technology continues its
move toward ubiquity. Such media inculcates which of the following?

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 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 and 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. Your recommendations include
which of the following? (Select all that apply.) (Points : 5)
Question 5.5. (TCO 6) Which does a mission statement address? (Select
all that apply.) (Points : 5)
Question 6.6. (TCO 6) Imagine a world that is populated by 9 billion
people. In order to maintain our current quality of life, such a world
would require 2.3 planets’ worth of resources. In order to sustain the
U.S. way of life, businesses and the government must plan for 30% more
people living across the globe. Most of those people will be in
developing countries, and the demand will be great for energy, food, and
healthcare. Your concern is that you and your production team have
been asked by your leadership to create a scorecard to measure your
firm’s efforts in sustainability. Your team’s scorecard should necessarily
include which? (Select all that apply.) (Points : 5)
Question 7.7. (TCO 6) Mining Group Gold is a team process that
includes a method for processing and analyzing which? (Select all that
apply.) (Points : 5)

Question 8.8. (TCO 7) A cellular or modular layout can accommodate
changes in design or customer demand. This includes which? (Select all
Question 9.9. (TCO 8) The marketing manager is responsible for
choosing how to implement which? (Select all that apply.) (Points : 5)
Question 10.10. (TCO 9) Technology can provide significant increases
in productivity and efficiency. However, less than stable technology-
based systems can significantly impact businesses at the most
inopportune times. Issues that are inadvertently and unexpectedly
created in such instances include which? (Select all that apply.) (Points :
5)
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. The advantage of using such software is
Question 12.12. (TCO 9) Web 3.0 can be characterized by which of the
following statements? (Select all that apply.) (Points : 5)
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
nonwarranty) 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, your set of “must-do-first” priorities includes which?

Question 14.14. (TCO 10) An accounting system includes which?
Question 15.15. (TCO 10) Which of the following financial management
functions are a part of financial planning? (Select all that apply.) (Points
: 5)
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 8) Identify the four Ps of marketing, and give an
example how each of the four Ps can be used to market your favorite
product or service. (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)
Set 2
(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 their facilities? List the specific
needs and requirements of each company when determining location.
19.99
1. (TCO 1) A(n) _____ is a framework of how a business intends to
generate revenue. (Points : 5)
Question 2.2. (TCO 1) People who stand to gain or lose by the policies
and activities of a business and whose concerns the business needs to
address include which of the following? (Points : 5)
Question 3.3. (TCO 1) You are fairly good at various and sundry home
repairs. You aren’t very good at electrical things, or anything having to

should be concerned with in launching a new small business start-up?
(Points : 5)
Question 4.4. (TCO 3) A small business is defined as a company that
_____. (Points : 5)
Question 5.5. (TCO 1) You own Wash This Way Laundromat in a busy
part of town. ABC Laundry, a chain store competitor, opened across the
street in a busy shopping strip. You decide to improve your business by
adding an internet café offering free Wi-Fi. Why? (Points : 5)
Question 6.6. (TCO 2) These are government policies aimed at shielding
a country's industries from foreign competition. (Points : 5)
Question 9.9. (TCO 2) It can be difficult to balance ethics and other
goals, such as pleasing stakeholders or adva
ncing your career. According to management writer Ken Blanchard and
religious leader Norman Vincent Peale, it helps to ask oneself which one
of the following questions when facing an ethical dilemma? (Points : 5)
Question 10.10. (TCO 3) Starting your own business (Points : 5)
Question 11.11. (TCO 4) Which of the following pairs represent an
advantage and a disadvantage of marketing to a mobile phone rather
than a fixed computer? (Points : 5)

Question 12.12. (TCO 4) The rapid spread of brand communities has
been one of the major impacts of social media. The Harley Davidson
Owners Group is one example of an informal network of people with
similar interests who use social media to bond and share information.
Why are these brand communities effective? (Points : 5)
Question 13.13. (TCO 4) The marketing mix refers to (Points : 5)
Question 14.14. (TCO 5) The steps to Mining Group Gold include
(Points : 5)
Question 16.16. (TCO 7) A common reason that companies fail is
(Points : 5)
Question 17.17. (TCO 7) 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 to (Points : 5)
CO 1) What type of economic system lies between capitalism and
communism? Explain why it is more effective than other economic
systems. (Points : 25)

Question 2.2. (TCO 2) Compare and contrast strategic alliances with
joint ventures. (Points : 25)
Question 4.4. (TCO4) Define marketing. Compare and contrast place
marketing with cause-related marketing.
(Points : 25)
Question 5.5. (TCO 5) Define the five major types of organization
structure. (Points : 25)
Question 6.6. (TCO 6) Businesses try to create systems that deliver
goods or services to customers as efficiently as possible. This often
involves multiple steps and systems that hopefully work together to
accomplish that goal. Explain the systems perspective, and identify at
least five principles of systems thinking that can improve your skills as a
manager. (Points : 25)
Question 7.
7. (TCO 7) What is a balance sheet? Why is it called a balance sheet?
(Points : 25) 19.99
1. (TCO 1) Describe the six major functional areas in a business
enterprise. (Points : 25)

Home Depot is one of the world's biggest home improvement retailers in
the United States, Canada, and Puerto Rico. Home Depot stores strive to
serve both the professional contractors as well as the casual home
repairers.
numerous risks associated with running a
Question 4.4. (TCO 4) Describe the stages a consumer passes through
when making a purchase decision. Give examples of each stage. (Points
: 25)
Stage 1.
Question 5.5. (TCO 5) Compare and contrast Theory X with Theory Y.
(Points : 25)
Question 7.7. (TCO 7) Describe double-entry bookkeeping and the
matching principle. (Points : 25)

Set 3
1. (TCO 1) _____ refer to a resource or capability a company must have
before it can start competing in a given market. (Points : 5)
Question 3.3. (TCO 1) Home-based entrepreneurs should focus on
_____. (Points : 5)
Question 4.4. (TCO 3) Which of the following is an example of a
lifestyle business? (Points : 5)
Question 5.5. (TCO 1) Performing a SWOT analysis is part of the
_____. (Points : 5)
Question 6.6. (TCO 2) One advantage of globalization is _____. (Points
: 5)
Question 7.7. (TCO 3) A strategy for reaching a global market is
¬¬¬_____. (Points : 5)
Question 8.8. (TCO 3) The reason(s) a company pursues a strategic
alliance is to _____. (Points : 5)

Question 9.9. (TCO 2) _____ are long-term partnerships between two or
more companies to jointly develop, produce, or sell products. (Points : 5)
Question 10.10. (TCO 3) Entrepreneurship has become the new way of
doing business in our world. With economies in decline and
organizations downsizing and the lack of opportunities that satisfy,
entrepreneurship has been born. Entrepreneurship involves (Points : 5)
Question 13.13. (TCO 4) Successfully distributing goods to customers
involves low cost and customer satisfaction. Several steps must take
place in order to reach this goal. Which step need NOT be considered in
the physical distribution of goods? (Points : 5)
(Points : 5)
Question 15.15. (TCO 6) Production and operations management is best
described by which of the following? (Points : 5)
(Points : 5)
Question 17.17. (TCO 7) What are the three interrelated reports required
by law for all publically traded companies that act as vital management
tools for all companies, big and small? (Points : 5)
===============================================

BUSN 115 Final Exam Set 1
They take twice the human effort.
They have the same defects in the finished product.
They require half of the engineering effort.
They use half the floor space for the same output.
They carry 50% more inventory.
Question 2.2. (TCO 7) Mass customization means (Points : 5)
tailoring products to meet the needs of a large number of individual
customers.
fewer and fewer manufacturers are learning to customize their
products.

manufacturing companies may become service companies over
time.
more and more manufacturers are learning to customize their
products.
operations management concepts are not applicable to the service
sector.
Question 3.3. (TCO 8) One scarce item in the future will be water.
Which is the least expensive way to get water from places of abundance
to places of need? (Points : 5)
Pipeline transmission
Air transportation
Truck transportation
Ship transportation
Train transportation
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. (Select all that apply.) (Points : 5)
Quickly adapting to the market
Providing improved customer service
Increasing your inventory levels
Opening a branch store across the street from the big box
Providing free expert advice and consultation to your customers
Question 6.6. TCO 1) You are fairly good at various and sundry home
repairs. You aren’t very good at electrical things or anything having to
should be concerned with in launching a new small-business start-up?
Undercapitalization
Competitors and competition
Government control
Collecting and remitting sales and use taxes
Training for what you don’t know how to do

Question 7.7. (TCO 1) A technique that combines all the promotional
tools into one comprehensive, unified promotional strategy includes
The creation of a positive brand image
Meeting the needs of the consumer
Meeting the strategic marketing goals of the firm
Meeting the promotional goals of the firm
Meeting profit expectations of external investors
The real answer that incorporates all these elements is called “Integrated
Marketing Communications”.
Question 8.8. (TCO 2) A conscious plan that represents and encourages
a unique set of values includes which? (Select all that apply.) (Points : 5)
Our elected representatives
Our communities
Our competitors
Our employees
Our customers
Question 9.9. (TCO 2) The Uniform Commercial Code includes which?

Laws that cover promissory notes and checks
Legally enforceable agreements between two or more parties
Bills of Lading
Something of value
Forms of commercial paper
Question 10.10. (TCO 2) Some regulation of business seems necessary
to ensure fair and honest dealings with the public. The impact of this
statement can best be explained by which of the following? (Select all
Consumers and investors have called for increased government
regulation in the financial sector.

U.S. businesses will need to work with government to create a
competitive environment that is fair.
Future financial crises will not be as severe as previous ones.
Businesses won’t have to worry with future healthcare insurance
regulations.
Global competition will steadily decline over time.
Question 11.11. (TCO 3) Strategies for reaching global markets include
Licensing
Importing

Direct marketing
Franchising
Contract manufacturing
Question 12.12. (TCO 3) Nations rely on a number of key indicators to
measure global trade. These include which? (Select all that apply.)
(Points : 5)
The total value of a nation’s exports compared to its imports
measured over a particular period
The total value of a nation’s imports compared to its gross
domestic product over a particular period
The total value of a nation’s exports compared to the value of the
International Monetary Fund

The difference between money coming into a country and money
leaving the country
The difference between money leaving the country and its imports
measured over a particular period
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 results of the efforts of this organization include
The creation of regional alliances
Reduction of tariffs an average of 38% worldwide
Expansion of new trade rules to areas like agriculture

The protection of patents
Overcoming constraints and decrease business opportunities
Question 14.14. (TCO 4) The disadvantages of sole proprietorships are
Risk of personal success
Risk of personal loss
Unlimited financial resources
Few or no fringe benefits
Unlimited life span

Question 15.15. (TCO 4) A limited liability company has which of the
following advantages? (Select all that apply.) (Points : 5)
Limited liability
Choice of taxation
Flexible ownership rules
Self-employment taxes
Fewer incentives

Question 1.1. (TCO 5) In this digital age, setting up shop online is vital
for most retail businesses. But having only an online presence that
customers can access at home isn’t enough anymore. Now consumers
have an array of smartphones and digital tablets that can get them online
from anywhere. For social networks and retailers alike, the mobile
market has already enjoyed tremendous growth. Given this information
as a sales manager for Always Better Car Sales (ABCS), your concerns
include which of the following? (Select all that apply.) (Points : 5)
Migrating to the mobile medium shouldn’t be a problem.
Making the leap from laptop to touchscreen is an option at this
stage of your efforts.

Social media is one option to enter the mobile market.
Using a service such as a mobile commerce platform is an option.
Economists estimate that as much as 51% of the total consumer
spending may go through social networking sites.
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? (Select all that apply.) (Points : 5)
What do I want but can never find?
What services would improve society?
What products would improve my life?

What irritates me, and what product would help?
What products would improve all mankind?
Question 3.3. (TCO 5) Electronic wireless technology continues its
move toward ubiquity. Such media inculcates which of the following?
Sweepstakes promotional information
News and sports 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 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 and 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. Your recommendations include
which of the following? (Select all that apply.) (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

Infomercials provided via video streaming to the Web
Printable discount coupons printed right from the website
Question 5.5. (TCO 6) Which does a mission statement address? (Select
all that apply.) (Points : 5)
A company’s organizational philosophy
A company’s organizational psychology
A company’s organizational efficacy
A company’s organizational phenomenology
A company’s organizational social responsibility

Question 6.6. (TCO 6) Imagine a world that is populated by 9 billion
people. In order to maintain our current quality of life, such a world
would require 2.3 planets’ worth of resources. In order to sustain the
U.S. way of life, businesses and the government must plan for 30% more
people living across the globe. Most of those people will be in
developing countries, and the demand will be great for energy, food, and
healthcare. Your concern is that you and your production team have
been asked by your leadership to create a scorecard to measure your
firm’s efforts in sustainability. Your team’s scorecard should necessarily
include which? (Select all that apply.) (Points : 5)
Water use
Recyclables
Waste
Greenhouse gases

Information technology
Question 7.7. (TCO 6) Mining Group Gold is a team process that
includes a method for processing and analyzing which? (Select all that
apply.) (Points : 5)
Feelings
Facts
Solutions
Falsities
Paradoxes

Question 8.8. (TCO 7) A cellular or modular layout can accommodate
changes in design or customer demand. This includes which? (Select all
Not necessarily a strictly linear approach
Scheduling work operations
Different customers with similar needs
One station in the factory sending completed items to two or more
next stations
Processes that are used to produce large quantities of a few types
of products

Question 9.9. (TCO 8) The marketing manager is responsible for
choosing how to implement which? (Select all that apply.) (Points : 5)
Product
Place
Promotion
Profit
Price
Question 10.10. (TCO 9) Technology can provide significant increases
in productivity and efficiency. However, less than stable technology-
based systems can significantly impact businesses at the most
inopportune times. Issues that are inadvertently and unexpectedly

created in such instances include which? (Select all that apply.) (Points :
5)
Overly complex software
Loss of client and customer confidence
Decrease in sales revenue
Interruption of shipments
Overly complex networking equipment
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. The advantage of using such software is

A single location for the information being edited and saved
Multiple copies of the information so backups are not necessary
The software being considered shareware and therefore not
copyrighted
The software being considered public domain software and free for
the taking
Multiple locations where the information is stored providing quick
access
Question 12.12. (TCO 9) Web 3.0 can be characterized by which of the
following statements? (Select all that apply.) (Points : 5)
It is known as the semantic web.

It is known as the virtual world.
It is known as the mobile web.
It is known as the static web.
It is known as the immersive Internet.
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
nonwarranty) 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, your set of “must-do-first” priorities includes which?

Reviewing current operations in the IT department to determine
processes that can be made more efficient.
Exploring the possibilities of providing real-time manufacturing
and shipping data to the expediters in the factory via handheld wireless
devices.
Reviewing the information that is gathered by the customer
relations staff that might assist in improving existing customer
relationships.
Reviewing the ordering process (both warranty and nonwarranty)
to streamline ordering and improve communications with suppliers and
customers.
Exploring new markets through an improved online presence of
the company.
Question 14.14. (TCO 10) An accounting system includes which?

Tax return information
Balance sheet information
Summarization of accounts information
Compliance information
Eleemosynary information
Question 15.15. (TCO 10) Which of the following financial management
functions are a part of financial planning? (Select all that apply.) (Points
: 5)
Understanding and allocating operational needs

Establishing a capital budget
Creating a long-term forecast
Establishing a strategic planning vision
Creating a short-term forecast
Page 3

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 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 8) Identify the four Ps of marketing, and give an
example how each of the four Ps can be used to market your favorite
product or service. (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)

(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 their facilities? List the specific
needs and requirements of each company when determining location.
===============================================

1. (TCO 1) A(n) _____ is a framework of how a business intends to
generate revenue. (Points : 5)
business model
strategic management tool
profitability analysis
competitive advantage
entrepreneurial mindset
Bankers
Government employees
Surrounding/competing businesses
Foreign business leaders
Domestic business leaders
Question 3.3. (TCO 1) You are fairly good at various and sundry home
repairs. You aren’t very good at electrical things, or anything having to
should be concerned with in launching a new small business start-up?
(Points : 5)

Current local council actions
Local school board policies
Government control
Collecting and remitting sales and use taxes
Training for what you don’t know how to do
Question 4.4. (TCO 3) A small business is defined as a company that
_____. (Points : 5)
is newly launched and has fewer than 100 shareholders
is dominant in its field and employs fewer than 1,500 employees
has a revenue of less than $750,000
is independently owned and operated and not dominant in its field
is funded through personal lines of credit and has fewer than 1,000
employees
Question 5.5. (TCO 1) You own Wash This Way Laundromat in a busy
part of town. ABC Laundry, a chain store competitor, opened across the
street in a busy shopping strip. You decide to improve your business by
adding an internet café offering free Wi-Fi. Why? (Points : 5)
To promote private ownership of businesses
To improve quality of life
To exceed customer expectations

To expand your market
Question 6.6. (TCO 2) These are government policies aimed at shielding
a country's industries from foreign competition. (Points : 5)
Tariffs
Free-market capitalism
Protectionism
Import quotas
Question 7.7. (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 8.8. (TCO 3) The reason(s) a company pursues a strategic
alliance is to _____. (Points : 5)
enhance the ability to expand internationally
gain access to new technologies and know-how
increase credibility or brand awareness
All of the above
Question 9.9. (TCO 2) It can be difficult to balance ethics and other
goals, such as pleasing stakeholders or adva
ncing your career. According to management writer Ken Blanchard and
religious leader Norman Vincent Peale, it helps to ask oneself which one
of the following questions when facing an ethical dilemma? (Points : 5)
How will this course of action be evaluated by others?
Is my proposed action legally defensible?
Is this course of action based on principle?
Is this course of action based on the truth?
How will this course of action make me feel about myself?
Question 10.10. (TCO 3) 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.
Mobile phone users are accustomed to advertising interruptions
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.
The cost of consumer-oriented publications is too expensive.
Consumers now trust their peers more than any source for product
information.
Consumers no longer trust salespeople.
State and local consumer protection agencies no longer review
products.

Question 13.13. (TCO 4) The marketing mix refers to (Points : 5)
product, distribution, coupons, and place.
product, demographics, price, and distribution.
product, price, place, and promotion.
price, product, elasticity, and promotion.
(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.
They take twice the human effort.
They have the same defects in the finished product.
They require half of the engineering effort.
They use half the floor space for the same output.

They carry 50% more inventory.
(Points : 5)
underspecialization.
an excellent control of cash flow.
a lack of adequate sales revenue.
an inadequate control of expenses.
an inadequate managerial expertise.
Question 17.17. (TCO 7) 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 to (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.

CO 1) What type of economic system lies between capitalism and
communism? Explain why it is more effective than other economic
systems. (Points : 25)
Question 2.2. (TCO 2) Compare and contrast strategic alliances with
joint ventures. (Points : 25)
Question 4.4. (TCO4) Define marketing. Compare and contrast place
marketing with cause-related marketing.
(Points : 25)

Question 5.5. (TCO 5) Define the five major types of organization
structure. (Points : 25)
Question 7.
7. (TCO 7) What is a balance sheet? Why is it called a balance sheet?
(Points : 25)
===============================================

1. (TCO 1) Describe the six major functional areas in a business
enterprise. (Points : 25)
Home Depot is one of the world's biggest home improvement retailers in
the United States, Canada, and Puerto Rico. Home Depot stores strive to
serve both the professional contractors as well as the casual home
repairers.
numerous risks associated with running a
Question 4.4. (TCO 4) Describe the stages a consumer passes through
when making a purchase decision. Give examples of each stage. (Points
: 25)
Stage 1.
Question 5.5. (TCO 5) Compare and contrast Theory X with Theory Y.
(Points : 25)

Question 7.7. (TCO 7) Describe double-entry bookkeeping and the
matching principle. (Points : 25)
1. (TCO 1) _____ refer to a resource or capability a company must have
before it can start competing in a given market. (Points : 5)
Assets
Economies of scale
Barriers to entry
Technological requirements
Fixed costs
Bankers
Government employees
Surrounding/competing businesses
Foreign business leaders

Domestic business leaders
Question 3.3. (TCO 1) Home-based entrepreneurs should focus on
_____. (Points : 5)
seeking a short-term payoff
creating a long-term vision
accepting security
getting a line-of-credit from a foreign bank
understanding financial ratios on their balance sheet
===============================================
BUSN 115 Week 1 DQ 1 Laws and Regulations

Do laws and regulations always restrict or impede the efforts of
business professionals, or can they actually help businesses? In addition
to this, could you list some examples of laws or regulations that may
have impeded business lately?
===============================================
BUSN 115 Week 1 DQ 2 Entrepreneurship Failure
The risk of failure is an inherent part of free enterprise. Does society
have an obligation to come to the aid of entrepreneurs who try but fail?
Why or why not? Also, please discuss some ways you can minimize
your risk.
Entrepreneurship Failure
===============================================

BUSN 115 Week 1-7 All DQs
BUSN 115 Week 1 DQ 1 Laws and Regulations
BUSN 115 Week 1 DQ 2 Entrepreneurship Failure
BUSN 115 Week 2 DQ 1 Global Markets
BUSN 115 Week 2 DQ 2 Corporate Social Responsibility (CSR)
BUSN 115 Week 3 DQ 1 Starting a Business
BUSN 115 Week 3 DQ 2 Early Adopters
BUSN 115 Week 4 DQ 1 Purchasing Process
BUSN 115 Week 4 DQ 2 Advertising
BUSN 115 Week 5 DQ 1 Motivation Theories
BUSN 115 Week 5 DQ 2 Benefit Choices
BUSN 115 Week 6 DQ 1 Supply-Chain Management
BUSN 115 Week 6 DQ 2 Technology Improvement
BUSN 115 Week 7 DQ 1 Accounting Firm
BUSN 115 Week 7 DQ 2 Financial Control

This tutorial contains 2 Different Papers
Background
As you have read about in our lecture, we have used a lemonade stand to
help us understand some basic concepts of business. As we pointed out,
a lemonade stand has a simple business structure; yet, it can help us
understand almost every function of a firm; such as marketing,
operations, finance, technology, entrepreneurship and many other
aspects. In our two assignments in this course, you will own and
operate your very own lemonade stand as you apply the knowledge you
have learned from the course.
Scenario
You have decided to open a lemonade stand in your local neighborhood.
You have grand plans for this stand and expect to attract many
customers. In part I of this assignment, you will develop the basic
premise of your new company. Please answer the following questions,
utilizing the textbook, to ensure you apply the lesson we have learned in
the previous weeks.
- Develop a creative name for your Lemonade Stand, and then
explain why a name is important when you are considering branding
options?

- Create a Mission Statement for your Lemonade Stand (Chapter
7); then explain why a mission statement is important for any company?
- You are very involved in your community; please outline your
CSR plan (Chapter 4) for your business.
- The textbook lists many different types of pricing strategies,
please pick one of these and explain how you will deliver on this
strategy with your stand. (Chapter 14)
- Even though you only sell to local customers, you understand that
you could package your lemonade and sell it online globally. Evaluate
whether or not the company should go global by creating an online
presence and selling your lemonade online (Chapter 3).
Activity
You are to write roughly 500 words in answering all questions posted
above for your Lemonade Stand. (Please note: you may list the
questions in your paper and answer these in a step by step process, but
the word count will only apply to your written words).
The paper needs to be written in an APA format and should have at least
your textbook listed as a scholarly source in your bibliography. Please
view the APA tutorial in your syllabus for more on how to format your
paper. Your paper should include a cover page and running header as
stipulated by APA formatting.

This paper will be evaluated on how you apply the concepts that are
detailed in the textbook to a practical idea. In order to receive the
highest grade, it is encouraged that you review the textbook and cite
specific area of the text in your responses (taking care in citing these
properly). Additionally, while this is not an English class, grammar will
account for a portion of your paper. Please take care in writing a well
develop response.
===============================================
BUSN 115 Week 2 DQ 1 Global Markets
Global Markets
How can a company use licensing agreements to enter world markets?
What two fundamental product strategies do companies choose between
when selling their products in the global marketplace?
===============================================

BUSN 115 Week 2 DQ 2 Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR)
Is it ethical for companies to benefit from their efforts to practice
corporate social responsibility? Why or why not? How can anyone be
sure that CSR efforts aren’t just public relations ploys?
===============================================
BUSN 115 Week 2 Quiz
Question 1. Question : (TCO 1) _____ is money that an
organization brings in through the sale of its goods and services.
Profit
Revenue

Sales
Capital investment
Finance
Question 2. Question : (TCO 1) Which of the following
statements is true regarding business mindset?
It involves seeing the business from the outside in.
It is incompatible with corporate responsibility.
It involves appreciating the challenges a company faces in satisfying
customer needs.
It involves acknowledging that businesses always benefit society.
It involves ignoring one's customer experiences.
Question 3. Question : (TCO 1) _____ audit the financial
reports of public companies as required by law.
Internal accountants
External auditors
Credit managers
Management accountants

Question 4. Question : (TCO 1) Which of the following is a
characteristic feature of economic contraction?
Decreased unemployment rates
Decreased consumer spending
Increased income
Increased employment
Question 5. Question : (TCO 1) Inflation is a major concern
for consumers, businesses, and government leaders, because it _____.
===============================================
BUSN 115 Week 3 Assignment LEMONADE STAND, PART I
(2 Papers)
Background

As you have read about in our lecture, we have used a lemonade stand to
help us understand some basic concepts of business. As we pointed out,
a lemonade stand has a simple business structure; yet, it can help us
understand almost every function of a firm; such as marketing,
operations, finance, technology, entrepreneurship and many other
aspects. In our two assignments in this course, you will own and
operate your very own lemonade stand as you apply the knowledge you
have learned from the course.
Scenario
You have decided to open a lemonade stand in your local neighborhood.
You have grand plans for this stand and expect to attract many
customers. In part I of this assignment, you will develop the basic
premise of your new company. Please answer the following questions,
utilizing the textbook, to ensure you apply the lesson we have learned in
the previous weeks.
- Develop a creative name for your Lemonade Stand, and then
explain why a name is important when you are considering branding
options?
- Create a Mission Statement for your Lemonade Stand (Chapter
7); then explain why a mission statement is important for any company?
- You are very involved in your community; please outline your
CSR plan (Chapter 4) for your business.
- The textbook lists many different types of pricing strategies,
please pick one of these and explain how you will deliver on this
strategy with your stand. (Chapter 14)

- Even though you only sell to local customers, you understand that
you could package your lemonade and sell it online globally. Evaluate
whether or not the company should go global by creating an online
presence and selling your lemonade online (Chapter 3).
Activity
You are to write roughly 500 words in answering all questions posted
above for your Lemonade Stand. (Please note: you may list the
questions in your paper and answer these in a step by step process, but
the word count will only apply to your written words).
The paper needs to be written in an APA format and should have at least
your textbook listed as a scholarly source in your bibliography. Please
view the APA tutorial in your syllabus for more on how to format your
paper. Your paper should include a cover page and running header as
stipulated by APA formatting.
This paper will be evaluated on how you apply the concepts that are
highest grade, it is encouraged that you review the textbook and cite
specific area of the text in your responses (taking care in citing these
properly). Additionally, while this is not an English class, grammar will
account for a portion of your paper. Please take care in writing a well
develop response.
===============================================
BUSN 115 Week 3 DQ 1 Starting a Business

Starting a Business
What are the advantages of buying a business rather than starting one
from scratch? What are the advantages and disadvantages of owning a
franchise?
===============================================
BUSN 115 Week 3 DQ 2 Early Adopters
Early Adopters
Do you consider yourself an early adopter when it comes to trying out
new products or new fashions, or do you tend to take a wait-and-see
attitude? How does your attitude toward new products and new ideas
influence your decision making as a consumer?
===============================================

BUSN 115 Week 4 DQ 1 Purchasing Process
Purchasing Process
Think of a product you recently purchased and review your decision
process. Why did you need or want that product? How did the product’s
marketing influence your purchase decision? How did you investigate
the product before making your purchase decision? Did you experience
cognitive dissonance after your decision?
===============================================
BUSN 115 Week 4 DQ 2 Advertising
Advertising

Think about an advertisement (in any medium) that had either a
strongly positive or strongly negative effect on your attitude toward the
product being advertised or the advertiser itself. Why did the ad have
this effect? If you responded positively to the ad, do you think you were
being manipulated in any way? If you responded negatively—and you
are a potential buyer of the product that was advertised—what changes
would you make to the ad to make it more successful?
===============================================
uestion 1. Question : (TCO 3) A small business is defined as
a company that _____.
is newly launched and has fewer than 100 shareholders
is dominant in its field and employs fewer than 1,500 employees
has a revenue of less than $750,000
is independently owned and operated and not dominant in its field

is funded through personal lines of credit and has fewer than 1,000
employees
Question 2. Question : (TCO 3) One of the general
characteristics of a small business is that it typically sells fewer products
_____.
to a larger customer base
to fewer market segments
to foreign companies
at lower costs to government agencies
===============================================
BUSN 115 Week 5 Assignment LEMONADE STAND, PART II
(2 Papers)

This tutorial contains 2 Papers/Tutorial Background In part II of this
assignment, we continue to outline various business aspects of our
lemonade stand. As you continue to learn new concepts in this course,
you have seen how a lemonade stand can help us understand and apply
these concepts. In Part II of your lemonade stand we will incorporate
concepts from previous weeks and apply these to your newly created
company. Scenario In week 3, you created a lemonade stand that you
opened in your local neighborhood; you created a name, developed a
mission statement, outlined a CSR plan, and picked a pricing strategy for
this new company. This week you will continue to develop your idea by
writing an informal business report that will share your plans with a
potential business investor. A report template is available in Doc
Sharing to guide you through formatting of this assignment; however,
the main prompts you should address in the report include: - Branding
strategy. In Part I, you decided part of the brand when you developed
your pricing strategy. Continue with the other parts of the marketing
mix (Place, Promotion, and Product), and discuss how the lemonade
stand should be branded utilizing this marketing mix (Chapter 14). -
Opportunities for new locations. Your stand in your neighborhood has
been very successful and you are considering expanding operations. In
doing so, you will need to outline some criteria for potential new
locations (Chapter 15). - Promotion plans. You have a $ 10,000 budget
to promote your stand in the local community. Please outline two or
three ways you could promote this business (please include costs
involved in these promotions) (Chapter 16). - Employee Training. You
have hired several people to run your lemonade stand, as you simply are
too involved in the strategic aspects of the business. As such, you have
seen sales drop. What are some ways you can motivate your employees
to improve sales? (Chapter 10) Activity Once you have considered the
points above, please provide responses and explanations using the
template provided in Doc Sharing (titled “Lemonade Stand Informal

Business Report”). Utilize your textbook and apply the lessons we have
learned in previous weeks to develop and support your plans. By
offering support and developing your response, you must provide
examples, elaboration, or justification, often in the form of information
gathered from your textbook. When integrating support from your
textbook, be sure to use APA style to provide in-text citations within the
paragraph and a full end reference on a separate Reference Page after the
Business Plan. Examples of APA formatting are included in the
template. You are to write roughly 500 - 750 words in answering all
points posted above for your Lemonade Stand. This informal business
report will be evaluated on how well you apply the concepts that are
highest grade, it is required that you review the textbook and cite
specific areas of the text in your responses (taking care in citing these
properly in APA style). Additionally, while this is not an English class
and while the content of your ideas is most important, grammar and
sentence structure will account for a portion of your report grade. Please
be sure to write well-developed responses in complete sentence and
paragraph format. Note: For this assignment and other college writing
assignments, please note that when you reference or cite a text, if you
use words that are directly from a source, they must be in quotations and
cited. If you are just referencing them and have changed the words, a
citation is still required. One final point, when writing anything in
college, you must adhere to the 80/20 rule: 80% of the papers should be
in your own words, while 20% make up any citations you may add.
Violation of this rule could result in a zero for the assignment.
===============================================
BUSN 115 Week 5 DQ 1 Motivation Theories

Motivation Theories Chapter 7 discusses several styles of leadership,
including autocratic, democratic, and laissez-faire. How do each of these
styles relate to Theory X and Theory Y assumptions about workers?
===============================================
BUSN 115 Week 5 DQ 2 Benefit Choices
Benefit Choices
When you begin interviewing as you approach graduation, you will
need to analyze job offers that include a number of financial and
nonfinancial elements. Which of these aspects of employment are your
top three priorities: a good base wage; bonus or commission
opportunities, profit-sharing potential; rapid advancement opportunities;
flexible work arrangements; good healthcare insurance coverage; or a
strong retirement program? Which of these elements would you be
willing to forego in order to get your top three?

===============================================
BUSN 115 Week 6 DQ 1 Supply-Chain Management
Supply-Chain Management
How can supply-chain management (SCM) help a company establish a
competitive advantage? What are ways that companies can improve their
supply chains?
===============================================
BUSN 115 Week 6 DQ 2 Technology Improvement

Technology Improvement
Business is stalled. Sales last month were 10 percent less than the
previous month and so far this month is looking even worse than last
month. Could technology help you answer the decrease in sales? What
technologies could you deploy to increase sales?
===============================================
Question 1. Question : (TCO 5) A company whose structure,
policies, and capabilities allow employees to respond quickly to
customer needs and changes in the business environment is termed as
a(n) _____.
Student Answer: agile organization
hyperspecialized organization
formal organization

umbrella organization
mechanistic organization
Question 2. Question : (TCO 5) Which of the following
chain-of-command systems was developed to address the need to
combine specialization with management control?
Line organization
Line-and-staff organization
Agile organization
Formal organization
===============================================
BUSN 115 Week 7 DQ 1 Accounting Firm
Accounting Firm

The senior partner of an accounting firm is looking for ways to increase
the firm’s business. What other services besides traditional accounting
can the firm offer to its clients? What new challenges might this
additional work create?
===============================================
BUSN 115 Week 7 DQ 2 Financial Control
Financial Control
The company you cofounded last year is growing rapidly and has strong
prospects for an IPO in the next year or two. The additional capital that
an IPO could raise would let you hire the brightest people in the industry
and continue to innovate with new product research. There is one
potential glitch: You and the rest of the executive team have been so
focused on launching the business that you haven’t paid much attention
to financial control. You’ve had plenty of funds from venture capitalists
and early sales, so working capital hasn’t been a problem, but an
experienced CEO in your industry recently told you that you’ll never
have a successful IPO unless you clean up the financial side of the
house. Your cofounders say they are too busy chasing great
opportunities right now and they want to wait until right before the IPO
to hire a seasoned financial executive to put things in order. What should
you do and why?

===============================================

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