Gen Bus 311: Midterm 1 70 Researched Review Comprehensive Questions To Ace Your Exam| Success Guaranteed
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Course
Gen Bus 311
Institution
Gen Bus 311
A ________ lists the duties and responsibilities of a position. - ️️job description
Most wealth was made after ____ , and was made and is owned by what many call or deem _______. - ️️1800, Westerners
Nonprofit corporations can receive tax-exempt status and distribute corporate profits to ...
Gen Bus 311: Midterm 1 70 Researched
Review Comprehensive Questions To
Ace Your Exam
A ________ lists the duties and responsibilities of a position. - ✔ ✔ job description
Most wealth was made after ____ , and was made and is owned by what many call or deem _______. -
✔ ✔ 1800, Westerners
Nonprofit corporations can receive tax-exempt status and distribute corporate profits to the owners. -
✔ ✔ False
One of the biggest mistakes retailers make is to open up accounts on every social media platform they
think is relevant and then.... - ✔ ✔ leave them alone with no activity.
One of the main lessons learned from the Optimizely Blog and running a simple experiment is that you
should always question your . - ✔ ✔ assumptions
Pros of starting a partnership is the possible sharing of . - ✔ ✔ start up costs, responsibilities, and
risks.
Retailers have a measure, known as SKU's which stands for? - ✔ ✔ Stock keeping units
Social media refers to websites and applications that are designed to allow people to share quickly,
efficiently, and in real-time. - ✔ ✔ content
When you have a partnership, you don't have total control over all of the business decisions. - ✔ ✔
True
Which market segmentation is this: The process of dividing a market through variables such as age,
gender, education level, family size, occupation, income, and more. - ✔ ✔ demographic
Why was the coffeehouse so important with the early days of idea generation? - ✔ ✔ A place to
share ideas and form better ones
Tailoring products and services to the specific needs of our individual customer is providing which value
proposition? - ✔ ✔ customization
The activities needed to operate a business can be divided into a number of functional areas, these
include: - ✔ ✔ Management, operations, marketing, accounting, and finance
, A command economy is a system where the business owner, rather than the free market, determines
what goods should be produced, how much should be produced, to whom the goods will be sold, and
the price at which the goods are offered for sale. - ✔ ✔ False
A downside of more traditional hierarchical organizations is that they are rarely nimble enough to at
speed and are rarely able to both deliver against demands of today and think about the opportunities of
tomorrow. - ✔ ✔ NOT Change
Complexity Economics, according to The Origins of Wealth, is the body of work relating to how business
formed in the 1750's. - ✔ ✔ False
Cost advantages that a business enjoys as its output expands is which cost structure? - ✔ ✔
Economies of scale
Entrepreneurs do these three things for our economy: - ✔ ✔ Create new ideas (innovation),create
jobs, create new net wealth
Entrepreneurs have to persuade customers that they will be better off buying their product instead of
what they are currently buying. - ✔ ✔ true
Every business must have one or more owners whose primary role is to invest money in the business. -
✔ ✔ True
Groups of potential customers with common characteristics that influence their buying decisions are
called? - ✔ ✔ market segments
How did Target analyze customer data in order to figure out which customers were expecting a baby? -
✔ ✔ They identified certain products that were bought during pregnancy
How did Target make their baby ads look random? - ✔ ✔ put a lawn mower next to diapers
Hyperinflation is? - ✔ ✔ Monetary inflation occurring at a very high rate and quickly
If a product or service can successfully cross the chasm, they will gain acceptance within a . - ✔ ✔
mainstream market
In order to maintain limited liability, the corporation's owners must follow a number of legally required
corporate formalities. - ✔ ✔ True
In Stage-Gate at each gate a quality-control checkpoint is completed with three goals: ensure quality of
execution, ensure business rational, and . - ✔ ✔ approve the plan and resources to accelerate the
next stage
In the business model canvas there are 8 building blocks used to create new business models. - ✔ ✔
false (9)
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