Operations managers refer to the development of a plan for converting a product idea into an actual product as design planning.
Indicate whether the statement is true or false
Question 2 - Too much taxation, an overuse of regulation, and limited choices in the broader business environment are likely to result in:
A) a decrease in entrepreneurial activities.
B) an increase in the level of personal freedom.
C) an increase in global trade.
D) a social crisis.
Question 3 - Lynn Bernerd, Inc
Lynn Bernerd, Inc, manufactures and sells reclining furniture. The company currently operates in the United States but wishes to expand overseas. The company managers have been contemplating the best way to enter the foreign market. At first, the management felt it would be in the company's best interest to let a foreign company use its product and brand in exchange for a royalty. The managers recognized, however, that before the company decided on its foreign strategy it needed to think through all the steps required to enter an international market. As such, the managers believed they needed to consult with some type of agency to help their firm compete more effectively in the global marketplace.
After all the research was completed, the senior managers realized that they wanted to export their product. The managers decided that the transport carrier would notify them when the merchandise was shipped. This would avoid any confusion about lost shipments and ensure better communication with the receiving parties.
Refer to Lynn Bernerd, Inc When the transport carriers notify the exporter that the product has been shipped, they use a
A) bill of lading.
B) receipt.
C) letter of credit.
D) draft.
E) shipping verification.
Question 4 - When Este Lauder offers a free gift with a 15 purchase of its product from a retail outlet, it is specifically using what type of promotional technique?
A) Bribe.
B) Consumer sales promotion technique.
C) Consumer product promotion technique.
D) Trade sales promotion method.
E) Bait-and-switch method.
Question 5 - Product extension and refinement are expected results of a firm's development and implementation effort.
Indicate whether the statement is true or false
Question 6 - Identify a true statement about entrepreneurs.
A) They are people who write and establish government policies.
B) They avoid taking the risk of launching and operating their own businesses.
C) They thrive in an environment that supports economic freedom.
D) They are rarely motivated by any profit incentive to run a business.
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