What planning is the creation of long range comprehensive objectives and the development of long term courses of action?

The philosophy of utilitarianism is used to explain why restaurants, theaters, and hotels should make themselves handicapped accessible.

Human rights include an individual's right to life, to freedom, and to the pursuit of happiness.

The distributive process by which the burdens and rewards that society has to offer are shared varies from society to society.

Ethical decision making begins in the marketing department.

Ethics training programs typically teach how to disguise unethical behavior and not how to avoid unethical behavior.Term

If the company wants employees to take ethical training seriously, the training should not include games.

All businesses approach ethics the same way.

To be a useful code of ethics, the code should offer broad policies and procedures rather than detailed rules.Term

Social responsibility is a voluntary obligation.

The most basic responsibility of all businesses is its economic responsibility.erm

_____ is the set of moral standards for judging whether something is right or wrong.

Summer Dean was walking through the mall and found a gym bag lying on the ground. The decision Dean must make as to whether to keep the gym bag and its contents for herself or turn it into the mall's lost and found department involves:

_____ is a philosophy that focuses on the consequences of an action to determine whether it is right or wrong. This philosophy holds that an action that affects the majority adversely is morally wrong.

Which of the following statements about utilitarianism is true?

Utilitarianism holds that an action that affects the majority adversely is morally wrong.

Which of the following statements about utilitarianism is true?

Utilitarianism is designed to create both winners and losers. 

Mamma's Diner was a small restaurant that was a popular hangout for many Bedford College students, but because of the owner's inability to make the bathroom stalls handicapped accessible for the one wheel-chair student on campus, it was forced to close down. The belief that this it was morally wrong to deprive the majority of the people of this experience is an expression of the philosophy associated with:

Criticism of South Africa's post-apartheid government contends that the new government has not extended liberties to its black majority population, but has instead concentrated on proving to a white minority that a black-run administration can govern a reasonably sophisticated economy and society. The belief that the new South African government is behaving unethically is an expression of the philosophy associated with:

is difficult to implement because it is hard to tell how one decision will impact a large number of people

Another factor influencing business ethics is _____, or what is fair according to prevailing standards of society.

In the 21st century, we define justice as

an equitable distribution of the burdens and rewards that society has to offer

A business is an organization that strives for a profit by providing goods and services desired by its customers.

The major difference between a good and a service is how the producer uses the factors of production to create each.

Not-for-profit organizations have the same goals as for-profit organizations.

Factors of production are common to all productive activities, regardless of the economic system.

Labor, as a factor of production, relates only to the production of manufactured goods; services are not included.

As a factor of production, capital includes money.

People who combine natural resources, labor, and capital in a profitable venture are called entrepreneurs.

Many people consider knowledge to be a fifth factor of production.

Business owners and managers have a great deal of control over the internal environment of business, which covers the day-to-day business decisions.

Some global corporations are large enough to create major changes in the external environment.

Which of the following is an example of a business?

Which of the following is the best example of a service?

the pleasure you derive from seeing a good play 

Which of the following is the best example of a good?

the birthday candles you purchased to go on your sister's birthday cake

Which of the following businesses provides its customers with a service?

Which of the following businesses provides its customers with a good?

Which of the following is NOT an example of a good that would be sold in a department store?

the advice of a wedding planner 

What is the primary difference between a good and a service?

A good is tangible, and a service is intangible. 

The _____ of any country is measured by the output of goods and services people can buy with the money they have.

Which of the following countries has a high standard of living?

The standard of living in any country is:

measured by the output of goods and services people can buy with the money they have

Having a global vision simply means having a willingness to sell outside one's national borders if, and when, the opportunity arises.

International trade-dependent jobs have grown at a rate three times the growth of U.S.-dependent jobs.

Mines in Colombia produce emeralds and sell them to jewelers in the United States. To Colombia miners, emeralds are an export.

Telecommunications equipment manufacturers in the United States sell their products to people who live in Canada. To Canadians, the telecommunications equipment is an export.

The difference in value between a country's imports and exports is called its balance of trade.

Armenia had a favorable balance of trade in 2018 when it exported $800 million in goods and services and imported $1.5 billion.

The exchange rate is the interest rate that foreign banks receive when borrowing money from the United States.

According to the principle of absolute advantage, each country should specialize in the products that it can produce most readily and cheaply and trade those products for products that foreign countries can produce most readily and cheaply.

The opposite of free trade is protectionism.

The tax that the United States imposes on imported carbon steel products is called a tariff.

A company that has a global vision:

recognizes and reacts to international business opportunities 

How has terrorism affected global trade?

Terrorism has curtailed the liberal inflows of skilled and blue-collar workers.

_____ are goods and services that are made in one country and sold to other countries.

Botswana produces diamonds, copper, nickel, soda ash, meat, and textiles, which it sells to the members of the European Union. To Botswana, the diamonds, copper, nickel, soda ash, meat, and textiles it produces are examples of:

_____ are products that are bought from one country for use in another just as the U.S. buys wood pulp and timber from Canada.

The U.S. has one of the very few areas in the world where kaolin can be mined. Kaolin is a necessary ingredient in many products ranging from stomach medication to paper. The U.S.-produced kaolin is sold all over the world. Kaolin is a(n) _____ for the countries that purchase it.

The United States buys copper from Chile's Escondido copper mine. The copper is used to make wiring for the U.S. telecommunications industry and for many other purposes. For the U.S., the copper is an example of a(n):

Canadian logging companies sell timber in the United States. To the U.S., the timber is a(n)_____, and for Canadians, the timber is a(n) _____.

The Blue Bird Bus Company in Georgia sells buses to the South African government. To South Africa, these buses are an example of:

The _____ is defined as the difference in value of a country's exports and imports over a period of time.

If the sole proprietorship acquires a legal business name, the owner then has limited liability.

One of the disadvantages of the sole proprietorship is that the owner has unlimited liability.

The sole proprietorship is considered a legal entity; therefore, it is taxed separately from the owner.

For partnerships to be legal, they must be established in writing.

In a limited partnership, all of the partners have limited liability.

A disadvantage of a partnership is that any partner may have to pay all of the debts of the company regardless of who incurred the debts.

Dissolving a partnership is easier than dissolving a sole proprietorship.

Registration procedures for incorporation are uniform from state to state across the U.S.

Articles of incorporation usually specify the life of a corporation as a certain number of predetermined years.

The corporation's board of directors elects the corporate officers.

The most common form of business organization is the:

What type of business organization generates the most total sales?

Of all forms of business ownership, corporations account for the largest share of both:

Jules Sylvester had always loved reptiles. When he was asked by a movie producer if he could locate some anaconda snakes for a movie, a business was born. Sylvester is the proud owner and operator of Reptile Rentals. The California-based business, which he started with no financial help from anyone, is often called on to provide "creepy, crawly" moments in the movies. Jules Sylvester is an example of a:

Which of the following is an advantage of sole proprietor ownership?

Freedom from government regulation

The form of business ownership that is easiest to dissolve is the:

The form of business ownership that has the most difficulty in raising capital is the:

Paul Hyatt owns and operates DeepClean, a Florida-based company that cleans up mold and mildew in homes and businesses. As the sole proprietor of the business, he has unlimited liability, which means:

he is fully liable for all business debts 

Which type of business organization experiences the least governmental regulation?

When Linda McAnem began Stirya, a New York-based computer services company, she ran it as a sole proprietorship. As the business grew, she realized that she did not want to be personally liable for the business's debts and wanted her business accounts to be separate from her personal accounts. Therefore, she should have:

An entrepreneur is a person who opens and manages his or her own business.

Entrepreneurs, as a general group, dislike risk taking.

Entrepreneurs are people with vision, drive, and creativity, who are willing to take the risk of starting and managing a business to make a profit.

Entrepreneurs typically are innovators who start companies to pursue their ideas for a new product or service.

Micropreneurs are entrepreneurs who start small and plan to stay small.

Multipreneurs are businesspeople who have tried a succession of entrepreneurial start-ups without finding an area in which they could be successful.

A positive aspect of opening a small business is that it takes very little management skill because it is small.

Established small businesses are defined as companies that have been in business at least fifteen years and employ between 50 to 500 employees.

More than half of small businesses have between one and four employees.

The first step in starting your own business is the creation of a unique marketable idea.

The person who takes the risk of starting and managing a business to make a profit is called a(n):

Andy Yocom saw prime advertising space on the flags on the golf course. He reasoned that any marketing messages would get prominent attention if they were placed on the flags since golfers focus on them when they take their shots. As a result Yocom used his own initiative and money to start Invision Golf Group Inc. Yocom is an example of a(n):

Jon P. Farmer is the founder of Kolopua Hawaii LLC, a company that markets Pure Hawaiian Air. Bottles of Pure Hawaiian Air contain air that smells like the floral bouquet that greets tourists as they get off the plane in Hawaii. Retailing for about $5 apiece, the bottles are sold at gift shops in Hawaii, as well as to travel agents nationwide who give them to clients. As a(n) _____, Farmer's annual income exceeds $100,000 annually.

An entrepreneur is a person who _____ a business.

The difference between the small business owner and the entrepreneur is that the entrepreneur:

assumes the risk of the business

The difference between small business owners and entrepreneurs is that small business owners:

accept the status quo and take a short-term view of the future 

When Art Baer read that Singapore would lift its ban on chewing gum, he thought to himself, "There has to be a market there." Baer, 26, knew if he was going to move beyond the daydreaming stage, he had to move fast. After investing $20,000 of his own money into developing a product he called Impress Gum, Baer quit his job, flew to Singapore, talked to the right people in the government, lined up a manufacturer, and hired a marketing firm to promote his gum, which fights tooth decay. Baer is an example of a(n) ______ entrepreneur.

When he read Chicken Soup From the Soul, Joe Farmer was struck by how many of the stories mentioned the scent of the islands. So Farmer created bottles filled with Hawaiian air and some scented essence beads. When customers shake the bottles up and open the lids, they're transported back to paradise. While many marketing experts did not think that consumers would buy bottles of air, Farmer has earned more than half a million dollars of sale during his first year of operation. Farmer was an example of a _____ entrepreneur.

When Suzanne Pogell wanted to learn to sail, but she could find no one to teach her because men were the ones who sailed, and women were their crew. She finally convinced someone to teach her to sail, and after mastering sailing, she started an all-woman sailing school called Womanship. Pogell started small and plans to stay small. She would be correctly called a(n):

When Allison Logue found out her children were allergic to corn, she started looking for sweets and starches that were corn-free and was dismayed to find very few such products on the market. As a result, she has started her own small business to produce and market corn-free desserts. It is a small market, and Logue plans to keep her business small. Logue is an example of a(n):

Management is the process of guiding the development, maintenance, and allocation of objectives.

One of the basic functions of management is controlling.

Planning is the process of deciding what needs to be done to achieve organizational objectives; identifying when and how it will be done, and determining by whom it should be done.

Strategic planning is long-range, formulated by top management, and made as if the company operated in a vacuum

The lowest level of management is engaged in strategic planning process.

The short-range, detailed planning that focuses on current operations is called functional planning.

A good manager is never faced with unforeseen problems.

Arranging a firm's human and material resources to carry out plans is called organizing.

Dividing up the tasks (division of labor) is an important part of organizing.

Leadership is the process of guiding and motivating others toward the achievement of organizational goals.

The world's largest bank. Deutsche Bank set as its objective to make its name more recognizable in the United States. The success of its decision to sponsor a PGA golf tournament to accomplish this organizational objective will ultimately depend on which management function?

Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government owned water and sewerage system for the entire country. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. The development, maintenance, and allocation of resources to achieve its goal will require:

Manila Water, the provider of the water and sewerage services in the capital of the Philippines has purchased the government owned water and sewerage system for the entire country. It promises to make the nation's water and sewerage system run as efficiently and profitably as the one it operates in Manila. To achieve this goal, Manila Water's top management will first need to engage in _____ planning to determine what resources are needed to achieve this goal.

_____ planning is the creation of long-range, comprehensive objectives and the development of long-term courses of action.

_____ planning is short-range, detailed planning that is based on long-range planning. It typically has a time frame that is less than one year long.

Which of the following is NOT one of the four functions of management?

An organization's _____ is its general purpose or reason for existence.

_____ is the process of guiding the development, maintenance, and allocation of resources needed to attain organizational goals.

Reader's Digest Association, Inc., has published Reader's Digest magazine for over 80 years, and many believe the publication is dated and can no longer attract many readers. They believe _____ plans are needed to revamp the magazine's content, editorial staff, and readership.

When workers in a union elect their officers to represent them, it is an example of division of labor.

The time that an employee spends on a particular job determines his or her specialization of labor.

False RATIONALE: Organization charts are visual representation among tasks and the people given the authority to perform those tasks.

Organization charts show the formal and informal relationships among people, jobs, and departments.

A company that uses departmentalization groups jobs under the authority of one manager for the purposes of planning, coordination, and control.

Process departmentalization is a grouping of jobs by activity, such as marketing, finance, and production.erm

False RATIONALE: The matrix structure combines functional and product departmentalization.

The matrix structure is a combination of a line and a staff organization.

The standards used to determine actions acceptable to the group are called norms.

One of the problems with setting up groups is the strong likelihood for the organization to experience decreased productivity.

Cross-functional teams are made up of employees from about the same hierarchical level but different functional areas within the organization.

Managerial hierarchy refers to the number of subordinates overseen by each supervisor.

_____ involves coordinating and allocating a firm's resources so that the firm can carry out its plans and achieve its goals.Term

One of the primary goals of Burberry, a British retailer, is to expand its market. When the company allocated resources so that it could open two stores in Japan, it was engaged in which management function?

In 2005, BridgePort Brewing Company expanded sales of its BridgePort India Pale Ale, and BridgePort Black Strap Stout into Alabama, Georgia, Kansas, Minnesota, Missouri, North Carolina, Oklahoma, Tennessee and Texas. These states will join BridgePort's current distribution markets of Alaska, Arizona, California, Colorado, Idaho, Montana, New Mexico, Oregon, and Washington. When the brewery allocated resources to increase its production and distribution, it would have relied on which of the following management functions?Term

The management activity of organizing.

determines, groups, and assigns work activities

_____ is the process of dividing the work and assigning tasks to workers.

At your neighborhood Burger King, some employees take and fill orders, others prepare food, a few clean and maintain equipment, and some supervise. This process of dividing work into separate jobs and assigning tasks to workers is called:

_____ is the degree to which tasks are subdivided into smaller jobs.

On an automotive assembly line, Naif Marrot checks to make sure that recently painted car bodies are free of paint bubbles. Other people are assigned the task of seeing that other parts of the car are built to specifications. The task of building an automobile has been subdivided into a series of subtasks. The concepts of _____ have been employed in this situation.

specialization and division of labor

Division of labor refers to:

the process to dividing work into separate jobs 

Specialization refers to the:

degree to which tasks are subdivided into smaller groups 

Human resource management is the process of hiring, developing, motivating, and evaluating people in order to achieve organizational goals.

A study of the tasks required to do a job well is called a job analysis.

The skills, knowledge, and abilities a person must have to fill a job are spelled out in a job specification.

Job description refers to the specific location or office where a job is done.

False RATIONALE: The internal labor market is made up of employees currently working for the organization.

The internal labor market is made up of all employees in an industry.

Recruitment is the attempt to find and attract qualified applicants in the external labor market.

The first two stages in the selection process are the initial contact and the preliminary interview.

The selection interview is designed to test an applicant's communication ability and motivation.

Since the development of affirmative action programs, companies no longer require physical examinations as part of the selection process.

Mentoring is a form of off-the-job training.

False LEARNING OUTCOME: 1

Is management the process of guiding the development maintenance and allocation of objectives?

Management is the process of guiding the development, maintenance, and allocation of resources to attain organizational goals. Managers are the people in the organization responsible for developing and carrying out this management process.

What is the short range detailed planning that focuses on current operations?

The short-range, detailed planning that focuses on current operations is called functional planning. A good manager is never faced with unforeseen problems. Arranging a firm's human and material resources to carry out plans is called organizing.

What are types of planning in management?

The 4 Types of Plans.
Operational Planning. “Operational plans are about how things need to happen,” motivational leadership speaker Mack Story said at LinkedIn. ... .
Strategic Planning. “Strategic plans are all about why things need to happen,” Story said. ... .
Tactical Planning. ... .
Contingency Planning..

What are the three levels of planning?

There are three major types of planning, which include operational, tactical and strategic planning.