Business class Flashcards
Who is the current Federal Reserve Chair?
Jerome Powell
What is the current US unemployment rate?
4.1%
Does the US currently have a budget deficit or budget surplus?
budget deficit
Does the US currently have a trade deficit or trade surplus?
trade deficit
which company ranked #1 on Fortunes 2024 “Best Companies to work” list?
Hilton
who became the new US Supreme Court Justice in 2022?
Justice Jackson Ketanji Brown Jackson 1st Black woman justice ever.
Which of the following best describes conceptual skills?
the ability to think in the abstract , to diagnose and analyze different situations, and to see beyond the present situation.
Comparing actual performance against standards is an example of the____ management function?
Controlling
____ is the process of determining the best way to arrange a business’ resources and activities into a coherent structure?
Organizing
Copmanies develop_____ plans to deal with possible changes in a business or the business market environment, such as potential increases in interest rates?
Contingency
which of the followinf best describes a trategic plan?
a plan reflecting decisions about resource allocation, company priorities, and steps needed to reach strategic goals.
Ranked #1 on Fortunes “most powerful women in business” list recently?
Marry Barra
Ceo of Pepsico?
Ramon Laguarta
Ceo of Disney?
Robert Iger
Ceo of Tesla?
Elon Musk
CEO of CVS?
David Joyner
Ceo of Hilton?
Christopher J Nisseta
Ceo of Home Depot?
Ted Decker
Ceo of general Motors?
Mary Barra
Ceo of Apple?
The Cook
Ceo of Alphabet (google)?
Sundar Pichai
Ceo of Media?
Mark Zuckerberg
Ceo of Tik tok?
Shoe Zi Chew
Ceo of Chase?
Jamie Dimon
Ceo of OWN (Oprah Winfrey network)?
Tina Perry
Ceo of Lowes?
Marvin Ellison
_____ refers to activities, a set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing
Selecting the most apporiate price at which to sella product is included as one of the marketing mix elements of___
pricing
Decisions about warehosuing, inventory control, and transportation are a part of the ____ function.
place
Which of the following best defines market segmentation?
the process of dividing a market into categories of customer types.
Burberry has repositioned itself as a global luxury brand, like Gucci and Louis Vuitton, and calls for luring a different type of customer, who is top-of-the- lineand fashion-conscious. This is an example of ___ market segmentation.
psychographic
A_____ is a group of people on which a firms marketing efforts are focused. The people within the group tend to have similar wants and needs?
target market
Yale University has invited 12 students to take part in a discussion of food in its dining halls. Yale is using ____ to collect marketing data.
a focus group
_____ influences on consumer behavior iclude family opinion leaders, and refrences groups, such as friends, co-workers, and proffessional associates?
social
The___stage of the consumer-buying model occurs after the sale?
post-purchase evaluation
Includes premiums, coupons, and package inserts intended to tempt cosumers to buy products.
sales promotion
The first step in the new product development process is____
idea generation
During the____ stage of the product life cycle, sales begin to climb and the product begins to show profit. Competitors introduce similar products.
growth
Companies often their products to establish_____, a companys’s percentage of the total market sales for a specific product type.
market share
A___ is the amount added to a product’s cost in order to sell it at a target profit.
markup
Costs that are unaffected by the quantity of a product sold are ____ costs.
fixed
Bettys Breads is trying to calculate their breakeven point. Their monthly fixed costs (rent and salaries) are 5,000.00. the cost of making one loaf of bread, considering labor and materials, is $3.50. At a sales price of $6.00, their breakeven point would be____ loaves.
2000
____ distribution is a strategy by which a manufacturer grants exclusive rights to distribute or sell a product to a limited number of wholesalers or retailers in a given geographical area.
Exclusive
______ refers to a promotional strategy designed to appeal directly to consumers who will demand a product from retailers.
pull
Free conditioner with the purchase of a bottle of a bottle of shampoo is an example of a(n)____.
premium
Which of the following best descibes price skimming?
setting an initial high price to cover new product costs and generating a profit.
What is the current federal funds rate?
4.75%- 5.0%
Scarcity
if supply is less than demand, then shortage
surplus
if supply is greater than demand, then surplus
trade surplus
positive balance of trade means exports is greater imports
trade deficit
negative balance of trade means exports is greater exports
productivity
the efficiency of producing goods or services
monetary polictical
federal reserve sets federal funds rate, 4.58%
fiscal policy
Congress’ support or lack of support for increasing or decreasing government spending on Social Security, Medicare, defense, etc.
which has limited liability
corporation
which has unlimited liability
partnership and sole proprietorship
which has double taxation
corporation
who owns a corporation
shareholders
organizational structures
strategic alliance versus licensing versus direct investment
social responsibility issues
labor conditions, environmental sustainability
Theory Y
belief employees internally motivated
Theory X
belief employees irresponsible
Classical
economic gain as primary motivation
Hawthrone
managerial attention increases productivity
Maslow Hierachy of Needs
physiological, security, social, esteem self-actualization
Two Factor Theory
first hygiene factors, then motivation factors
Balance Sheet
assets=liabilities+owners equity
income statement
revenues-cost of goods-operating expenses-income tax= net income
common v preferred stock
common stock has voting rights versus preferred stock has priority claim over assets
sustainability in Managerial Decisions
production methods that minimize harm, reward employees for environmental ly sustainable product ideas, contributions to organizations that promote sustainability
