Intro to Business Mid Term Review (Chapters 1 - 10)

Understanding culture is the basis of understanding every aspect of international business.

Analyzing information & making decisions is what management function?

Strategic alliance in which the collaboration involves the joint ownership of the new venture

Type of business owned by two or more people.

_______ is attributed with the development of the Two-Factor Theory of motivation.

Which of the following is the most common form of business ownership?

Which factor has aided the most in creating a global business environment?

A U.S. company would decide to offer its products in other countries as a reason to:

Income uncertainty is one of the most challenging aspects of starting a new business.

Strategy of entering a foreign market by licensing of trademarks and methods of doing business

Method of entering a foreign market joining forces with an already established foreign business

Socially responsible actions by a business benefit society but not the business.

Why might a business choose to outsource to a contractor?

The process of planning, creating, and managing a new business is called Entrepreneurship?

The funds and assets invested in a business by the owners

Forces that occur outside of the business that affect the business and its owners are

A written description of a new business venture that describes all aspects of the business.

Which is an important advantage for the corporate form of business ownership?

What does a nonprofit organization's goals not include?

The US Small Business Association

Maintaining an inventory of supplies helps a business to:

Business owners prefer ______ taxes so that they can invest more into their businesses.

Business ethics refer to as

Which of the following is NOT a source of financing used in funding a new business

Which form of business ownership is the most complicated to form?

Describes the scope and purpose of a company's present business.

Which is an example of an economic factor that affects the business environment?

4. what is a disadvantage of entrepreneurship?

controlling, leading, organizing, and planning are four _______ of management?

This is a set of standards or rules that guide business behavior in a positive direction:

The advantages of smallness in business are

Operations Management is..

Why does the U.S. govt. issue coins and currency?

Which inventory management system would reduce wharehousing costs?

This term refers to the duty of a business to contribute to the well-being of society:

Which is an example of ethical business behavior?

Which is an internal factor that might influence a business owner's decision making?

The best description of the term “quality” in Operations Management is

Which of these is NOT a Motivation Theory.

What is the aim of Operations Strategies?

Franchisor is the person or business that has sold and or granted a franchise

Motivation includes __________ .

What is autocratic leadership?

A virtual business is a business that

The person or business that has purchased and/or received a franchise.

Business strategies should support business goals

Which situation most likely indicates the need to adapt to changes in the business environment?

For a business, income remaining after payment of expenses is:

TQM is a quality system strategy. It includes...

specific analysis of your own business as it compares to your competition

Motivation is an important aspect of employee performance