VT foundations of business exam 2
questions well answered
accounting - correct answer ✔✔ a technical skill: planning, recording, analyzing, and
interpreting financial information
acquisition - correct answer ✔✔ purchase of one company by another, no new company
formed
articles of incorporation - correct answer ✔✔ set of formal documents filed with a government
body to legally document the creation of a corporation.
autocratic - correct answer ✔✔ make decisions without input and expects subordinates to
follow instructions
behavioral - correct answer ✔✔ ?
Benchmarking - correct answer ✔✔ involves comparisons to other organizations' practices and
processes with the objective of learning and improvement in both efficiency and effectiveness.
business information technology - correct answer ✔✔ An umbrella term covering those careers
that provide a bridge between business processes/initiatives and IT (information technology)
Capacity Planning - correct answer ✔✔ process of assessing a company's ability to produce
enough output to satisfy market demand
, commission - correct answer ✔✔ An amount paid to an employee based on a percentage of the
employee's sales
competition - correct answer ✔✔ the struggle among producers for the dollars of consumers
conceptual - correct answer ✔✔ skills that involve the ability to picture the organization as a
whole and the relationship among its various parts
contingency - correct answer ✔✔ Develop alternative courses of action in case an anticipated
change does occur. (Also, known as a Backup or fallback plan)
contract manufacturing - correct answer ✔✔ A foreign country's production of private-label
goods to which a domestic company then attaches its brand name or trademark; part of the
broad category of outsourcing.
controlling - correct answer ✔✔ monitoring performance, comparing it with goals, and taking
corrective action as needed
corporation - correct answer ✔✔ is a legal entity that's separate from the parties who own it,
the shareholders invest by buying shares of stock
corporate social responsibility - correct answer ✔✔ a business's concern for society's welfare
critical path - correct answer ✔✔ the sequence of activities in a project that is expected to take
the longest to complete
cross-functional team - correct answer ✔✔ a team composed of employees from different
functional areas of the organization
questions well answered
accounting - correct answer ✔✔ a technical skill: planning, recording, analyzing, and
interpreting financial information
acquisition - correct answer ✔✔ purchase of one company by another, no new company
formed
articles of incorporation - correct answer ✔✔ set of formal documents filed with a government
body to legally document the creation of a corporation.
autocratic - correct answer ✔✔ make decisions without input and expects subordinates to
follow instructions
behavioral - correct answer ✔✔ ?
Benchmarking - correct answer ✔✔ involves comparisons to other organizations' practices and
processes with the objective of learning and improvement in both efficiency and effectiveness.
business information technology - correct answer ✔✔ An umbrella term covering those careers
that provide a bridge between business processes/initiatives and IT (information technology)
Capacity Planning - correct answer ✔✔ process of assessing a company's ability to produce
enough output to satisfy market demand
, commission - correct answer ✔✔ An amount paid to an employee based on a percentage of the
employee's sales
competition - correct answer ✔✔ the struggle among producers for the dollars of consumers
conceptual - correct answer ✔✔ skills that involve the ability to picture the organization as a
whole and the relationship among its various parts
contingency - correct answer ✔✔ Develop alternative courses of action in case an anticipated
change does occur. (Also, known as a Backup or fallback plan)
contract manufacturing - correct answer ✔✔ A foreign country's production of private-label
goods to which a domestic company then attaches its brand name or trademark; part of the
broad category of outsourcing.
controlling - correct answer ✔✔ monitoring performance, comparing it with goals, and taking
corrective action as needed
corporation - correct answer ✔✔ is a legal entity that's separate from the parties who own it,
the shareholders invest by buying shares of stock
corporate social responsibility - correct answer ✔✔ a business's concern for society's welfare
critical path - correct answer ✔✔ the sequence of activities in a project that is expected to take
the longest to complete
cross-functional team - correct answer ✔✔ a team composed of employees from different
functional areas of the organization
