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BUS 1038 Ch 1 - Baker's Dozen + 1 Flashcards | StudBud
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BUS 1038 Ch 1 - Baker's Dozen + 1
BUS 1038 Ch 1 - Baker's Dozen + 1
14 terms
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StudBud Administration
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Quick review to assess how much you retained (and can recall) from last week's lesson.
Flashcards
14 cards
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Practice quiz
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Questions
14
Answers
1
What 'holiday' is today, Jan 13, 2025
National rubber ducky day
National Gluten Free Day
All of these are correct
National Clean Your Desk Day
2
Intria processes bill payments, cheques, coin, etc. for Banks. What describes their services?
Nearshoring
Offshoring
Core service provider
Outsourcing
3
Which is NOT one of the four basic inputs that comprise the factors of production?
Entrepreneurship
Money
Natural resources
Human resources
4
What does a strategic alliance create for its business partners?
Competitive advantage
Tax savings incentives
Strategic alliances
Economies of scale
5
Which business philosophy identifies unmet wants & needs, then designs products to satisfy them?
Transaction management
Consumer orientation
Relationship orientation
Product-design focus
6
21
st
century managers need vision, creativity and the ability to lead change. What else?
Soft skills (e.g., communication, team building)
Ability to take risks
Critical thinking
Higher education
7
What does managerial vision enable a firm to do?
Correctly forecast trends and market events to earn profits
Identify/react to political, economic, social & tech'l chgs
Closely monitor and thwart perceived competitor activity
Innovate/create novel solutions to perceived organizational problems
8
What lies at the core of every business endeavour between buyers and sellers?
Effective communication
Win-Win situation
An exchange
Profit
9
What is NOT a right that’s provided under the private enterprise system?
Guaranteed profits
Freedom of choice
Competition
Private property
10
Which term describes the app'n of knowledge, based on discoveries, inventions and innovations?
Creativity
Technology
Entrepreneurship
Critical thinking
11
What describes the ability to perceive marketplace needs and what must be done to satisfy them?
Vison
Predictive analysis
Perception
Oracle of Omaha
12
What is the alternative term for “private enterprise system?”
Entrepreneurship
P. E. S.
Private ownership
Capitalism
13
There are seven eras of business. Which one are we currently in?
Relationship era
Post-COVID 19 era
Internet era
Social era
14
Which is NOT a not-for-profit organisation?
Art Gallery of Ontario
Via Rail
George Brown College
Meridian Credit Union
