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BUSA 4000 Final Exam Review Questions with Certified Solutions What is the primary goal of business ethics? The primary goal of business ethics is to guide individuals and organizations in making decisions that are morally sound and socially responsible, fostering trust and integrity in busin...

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  • October 5, 2024
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  • 2024/2025
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BUSA 4000 Final Exam Review
Questions with Certified Solutions

What is the primary goal of business ethics?


✔✔The primary goal of business ethics is to guide individuals and organizations in making

decisions that are morally sound and socially responsible, fostering trust and integrity in business

practices.




Explain the concept of corporate social responsibility (CSR).


✔✔Corporate social responsibility (CSR) refers to the practice of businesses considering their

impact on society and the environment in their operations and decision-making processes,

striving for a positive contribution beyond profit maximization.




What role does a SWOT analysis play in strategic planning?


✔✔A SWOT analysis identifies an organization's internal Strengths and Weaknesses, as well as

external Opportunities and Threats, providing a comprehensive view that helps in formulating

effective strategic plans.




Define the term 'market segmentation' and its importance in marketing strategy.




1

,✔✔Market segmentation is the process of dividing a broad consumer or business market into

smaller, more defined groups based on shared characteristics, enabling more targeted and

effective marketing strategies.




What are the four Ps of marketing?


✔✔The four Ps of marketing are Product, Price, Place, and Promotion, which collectively help

businesses define their marketing strategy and successfully reach their target audience.




How do ethical dilemmas affect decision-making in businesses?


✔✔Ethical dilemmas can complicate decision-making in businesses by presenting situations

where individuals must choose between competing values, often leading to conflicts between

personal ethics and organizational policies.




What is the purpose of a business plan?


✔✔The purpose of a business plan is to outline a company's goals, strategies, and the resources

needed to achieve those goals, serving as a roadmap for both the business and potential investors.




Describe the role of leadership in organizational change.




2

, ✔✔Leadership plays a critical role in organizational change by guiding, motivating, and

influencing employees to embrace new directions and adapt to changes while maintaining a

positive organizational culture.




What are the benefits of conducting a market analysis?


✔✔Conducting a market analysis helps businesses understand industry trends, identify target

customers, assess competition, and make informed decisions regarding product development and

marketing strategies.




How does globalization impact business operations?


✔✔Globalization impacts business operations by expanding market opportunities, increasing

competition, and necessitating cultural adaptability while also presenting challenges such as

regulatory compliance and supply chain management.




Explain the significance of financial ratios in evaluating a company’s performance.


✔✔Financial ratios are significant as they provide insights into a company’s financial health,

operational efficiency, and profitability, allowing stakeholders to make informed decisions

regarding investments and management.




What is the difference between a merger and an acquisition?

3

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