General business free essay sample

1. Small business marketing involves a number of activities, including 2.A firms marketing mix consists of ____ activities. 3.Traditionally, marketing philosophies have been categorized as 4.U.S. businesses have recently shifted their focus toward a ____ orientation. 5.A firms marketing philosophy determines how strategic marketing activities are used to achieve 6.In recent years, the emphasis in U.S. businesses has been on 7.The ____ marketing philosophy is the preferred approach for all businesses. 8. The decision to produce flavored spring water ice cubes in response to requests from its customers reflects Norway Ice Company’s ____ marketing philosophy. 9.Koldpak has focused principally on the development of revolutionary new ways of containerizing fresh 10.Adopting a consumer-oriented marketing philosophy is most consistent with 11. Max chose to operate his production studio as a sole proprietorship even though his attorney cautioned that he was 12.Which legal form allows owners to contribute no capital but still play a part in managing the business and share in its profits? 13.Which group best defines a partnership? 14.Upon the death of the majority stockholder in a corporation, direct control may pass to 15.What legal form has the smallest percentage of new businesses? 16.Any person capable of ____ may legally become a business partner. 17.Some of the benefits of a partnership form of business include the following except 18.Which suggestion for forming a partnership would have been the most useful for Richard Rhodes’ situation as discussed in the opening Spotlight of the chapter? 19.The legal document that spells out the partners’ rights and duties is called the 20.A key characteristic of a partnership is that each partner 21. Which statement is true about location decisions? 22.A good reason for relocating a typical manufacturing business is to 23. Site-related factors that should be taken into consideration when selecting a retail location include 24.For small service or retail businesses, the top priority in location decisions is 25.Basic considerations that enter into the selection of a location for a manufacturing business normally include 26.An advantage for choosing a hometown as a location for a new business venture include the fact that 27.Which reason is not a potential advantage of establishing a small business in ones home community? 28.Which statement is true concerning business environment conditions for a new business? 29. A nonfamily employee of a family business is concerned about competing with family members for future career opportunities. To protect her personal interests, the nonfamily employee should 30.Which item is not an advantage of a family-owned business? 31.Which family characteristic may be in conflict with a business? 32.A(n) _____ commitment may motivate a person to go â€Å"beyond the call of duty† to protect or extend personal financial interests in the company. 33.A benefit of a strong family relationships is the greater willingness of family members to 34.The three activities that explain the cash inflows and outflows of a business are the selling, investment and financing activities. 35.Liquidity represents the degree to which a firm can meet maturing short-term debt obligations with available working capital. 36.The balance sheet and income statement are separate reports, but actually 37.For MacKenzie and John to understand how their company, The Lemonade Kids, performed during 2011, they must know the firm’s financial position at 38.Fixed assets include 39.Working capital includes all the following except 40. For investment purposes, a manager needing a snapshot of the firm’s financial position at a specific point in time would look at the