28 Sep Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?

WMBA4990/WMBA4991/ACCT4990/FNCE4990/DDBA4990/WMBA4990B

WMBA4990 Business Essentials

Module 5 Quiz

Question 1Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?

Question 2A small-scale consulting firm in Hawaii is struggling financially because it is unable to generate enough capital to run the business. The company then decides to get creative and uses web technology and digital resources to build long-term bonds with its current customers and also to reach new customers. This company is using concepts that primarily originated in the:

Question 3Huge factories replaced skilled artisan workshops during the _____.

Question 4In the U.S., nonprofits employ about one in hundred workers, accounting for less paid workers than the entire construction industry and less than the finance, insurance, and real-estate sectors combined.

Question 5Everyday-low pricing (EDLP) aims to achieve long-term profitability through high sales volume.

Question 6A(n) _________ takes legal possession of the goods to be distributed.

Question 7. _________ are distribution organizations—informally called “middlemen”—that facilitate the movement of products from the producer to the consumer.

Question 8Which of the following statements is true of distributors in a channel of distribution?

Question 9Andrew has spent a lot of time gathering information about his top two clients and has decided to make them participate in his latest product development project. Andrew is trying to establish a _________ with his clients.

Question 10Idea marketing is often combined with _________ marketing to market ideas that are meant to change how people think or act.

Question 11People marketing involves drawing people to a particular place.

Question 12The only standard in the ISO 9000 family that organizations can be certified for is ISO 9001.

Question 13Better quality improves effectiveness since consumers perceive high-quality goods as having greater value than low-quality goods.

Question 14Paul, an employee at a well-established bank, offers free financial advice to account holders. Paul is offering a _____.

Question 15Organizations that want to improve the morale of employees tend to use a high degree of centralization.

Question 16Autocratic leadership tends to be the best option when:

Question 17During his tenure as the manager of a large toy store, Barry developed strong technical skills. He will soon be promoted to the position of regional manager for several branches of the toy store. Barry’s boss informs him that in this new role, he will need to communicate, coach, and motivate other managers. In this case, which of the following management skills is his boss describing?

Question 18In the context of product layers, at the most fundamental level, consumers buy a _________ that satisfies their needs.

Question 19Which of the following is a similarity between sales promotion and consumer promotion?

Question 20Cannibalization occurs when a producer offers a new product that takes sales away from its existing products.