BUS101 Saylor || All Answers are Valid.
Business contract theory correct answers a business is a community of participants organized
around a common purpose. Contract theorists see the enterprise being run by employees and
managers as a kind of representative democracy.
Business as Property correct answers The owner can do whatever he wants
Functional Authority correct answers For ex: The authority exerted by an HR manager as
coordinator of personnel activities.
where managers have formal power over a specific subset of activities. For instance, the
Production Manager may have the line authority to decide whether and when a new machine is
needed but the Controller demands that a Capital Expenditure Proposal is submitted first,
showing that the investment will have a yield of at least x%;
Types of Departmentalization correct answers functional, product, customer, geographic, matrix
Functional - by common skills and work tasks
Divisional - common product, program, or geographical location
Matrix - combination of functional and divisional
Team - to accomplish specific tasks
Network - departments are independent, providing functions for a central core breaker
Market Segmentation correct answers Dividing a market into distinct groups of buyers who have
different needs, characteristics, or behaviors, and who might require separate products or
marketing programs
Market testing strategies correct answers Concept testing, which evaluates reactions to a film
idea and is fairly rare,
,Positioning studios, which analyze a script for marketing opportunities,
Focus groups, which probe viewers' opinions about a film in small groups prior to release,
Test screenings, which involve the previewing of films prior to theatrical release,
Tracking studies, which gauge (often by telephone polling) an audience's awareness of a film on
a weekly basis prior to and during theatrical release,
Advertising testing, which measures responses to marketing materials such as trailers and
television advertisements,
Exit surveys, which measure audience reactions after seeing the film in the cinema.
Normal vs Economic Profit correct answers Normal profit represents the total opportunity costs
(both explicit and implicit) of a venture to an investor, whereas economic profit is the difference
between a firm's total revenue and all costs (including normal profit).
Game theory
Evolutionary stable strategy correct answers
profit maximization chart correct answers
Double Bottom Line correct answers seeks to extend the conventional bottom line, that measures
fiscal performance— financial profit or loss— by adding a second bottom line to measure their
performance in terms of positive social impact
, Stakeholder Theorists correct answers believe that people who have legitimate interests in a
business also ought to have voice in how the business is run. However, stakeholder theorists take
contract theory a step further, maintaining that people outside of the business enterprise ought to
have a say in how the business operates. Thus, for example, consumers, even community
members who could be affected by what the business does (for example, by the pollutants of a
factory) ought to have some control over the business.
economic value correct answers worth of a good or service as determined by the market
consumer surplus correct answers the amount a buyer is willing to pay for a good minus the
amount the buyer actually pays for it
Fiduciary Duty correct answers A legal obligation of one party to act in the best interest of
another.
Market Stakeholders correct answers those that engage in economic transactions with the
company as it carries out its purpose of providing society with goods and services
non-market stakeholders correct answers people and groups who - although they do not engage
in direct economic exchange with the firm - are nonetheless affected by or can affect its actions
market price correct answers The current price that a buyer is willing to pay
operations manager correct answers A manager who is responsible for managing an
organization's production system (resources into products) and for determining where operating
improvements might be made.
Financial Accounting correct answers the branch of accounting that prepares financial statements
for use by owners, creditors, suppliers, and other external stakeholders
Business contract theory correct answers a business is a community of participants organized
around a common purpose. Contract theorists see the enterprise being run by employees and
managers as a kind of representative democracy.
Business as Property correct answers The owner can do whatever he wants
Functional Authority correct answers For ex: The authority exerted by an HR manager as
coordinator of personnel activities.
where managers have formal power over a specific subset of activities. For instance, the
Production Manager may have the line authority to decide whether and when a new machine is
needed but the Controller demands that a Capital Expenditure Proposal is submitted first,
showing that the investment will have a yield of at least x%;
Types of Departmentalization correct answers functional, product, customer, geographic, matrix
Functional - by common skills and work tasks
Divisional - common product, program, or geographical location
Matrix - combination of functional and divisional
Team - to accomplish specific tasks
Network - departments are independent, providing functions for a central core breaker
Market Segmentation correct answers Dividing a market into distinct groups of buyers who have
different needs, characteristics, or behaviors, and who might require separate products or
marketing programs
Market testing strategies correct answers Concept testing, which evaluates reactions to a film
idea and is fairly rare,
,Positioning studios, which analyze a script for marketing opportunities,
Focus groups, which probe viewers' opinions about a film in small groups prior to release,
Test screenings, which involve the previewing of films prior to theatrical release,
Tracking studies, which gauge (often by telephone polling) an audience's awareness of a film on
a weekly basis prior to and during theatrical release,
Advertising testing, which measures responses to marketing materials such as trailers and
television advertisements,
Exit surveys, which measure audience reactions after seeing the film in the cinema.
Normal vs Economic Profit correct answers Normal profit represents the total opportunity costs
(both explicit and implicit) of a venture to an investor, whereas economic profit is the difference
between a firm's total revenue and all costs (including normal profit).
Game theory
Evolutionary stable strategy correct answers
profit maximization chart correct answers
Double Bottom Line correct answers seeks to extend the conventional bottom line, that measures
fiscal performance— financial profit or loss— by adding a second bottom line to measure their
performance in terms of positive social impact
, Stakeholder Theorists correct answers believe that people who have legitimate interests in a
business also ought to have voice in how the business is run. However, stakeholder theorists take
contract theory a step further, maintaining that people outside of the business enterprise ought to
have a say in how the business operates. Thus, for example, consumers, even community
members who could be affected by what the business does (for example, by the pollutants of a
factory) ought to have some control over the business.
economic value correct answers worth of a good or service as determined by the market
consumer surplus correct answers the amount a buyer is willing to pay for a good minus the
amount the buyer actually pays for it
Fiduciary Duty correct answers A legal obligation of one party to act in the best interest of
another.
Market Stakeholders correct answers those that engage in economic transactions with the
company as it carries out its purpose of providing society with goods and services
non-market stakeholders correct answers people and groups who - although they do not engage
in direct economic exchange with the firm - are nonetheless affected by or can affect its actions
market price correct answers The current price that a buyer is willing to pay
operations manager correct answers A manager who is responsible for managing an
organization's production system (resources into products) and for determining where operating
improvements might be made.
Financial Accounting correct answers the branch of accounting that prepares financial statements
for use by owners, creditors, suppliers, and other external stakeholders
