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Homework answers / question archive / Miami Dade College, Miami - GEB 1011 CHAPTER 1 KLIPTECH 1)Joel Klippert developed a business plan, found funding, and risked his time, effort, and money to start KlipTech to manufacture sustainable building products made from recycled paper

Miami Dade College, Miami - GEB 1011 CHAPTER 1 KLIPTECH 1)Joel Klippert developed a business plan, found funding, and risked his time, effort, and money to start KlipTech to manufacture sustainable building products made from recycled paper


Miami Dade College, Miami - GEB 1011


1)Joel Klippert developed a business plan, found funding, and risked his time, effort, and money to start KlipTech to manufacture sustainable building products made from recycled paper. Klippert is best described as


2 Joel Klippert says he is always the last one to be paid, after the company’s vendors and employees. He gets some of the firm’s


3 Joel Klippert says he wished he’d paid more attention in his college business classes. Which of the following benefits of studying business would have helped him operate his business?





4 KlipTech has been successful for ten years in part because it operates in an environment in which Joel Klippert can decide for himself what to produce, how to make it, and at what price to sell it. KlipTech operates in which of the following business systems?




5 What is one of the most effective ways that PortionPac can encourage ethical behavior across its entire organization?


6 PortionPac has been a good corporate citizen for fifty years. Which of the following is not an argument in favor of social responsibility and corporate citizenship?

7 PortionPac co-founder, Marvin Klein, says ethics and integrity are “common sense.” Klein’s moral values and attitudes, which still guide the company today, relate to which set of factors in the ethical decision-making process?


8 PortionPac’s focus on environmentally friendly sanitation products and education in support of those products that foster food safety in schools relates to which of business’s responsibilities to the public?





9 Brazil, together with Australia, has a(n) ______ over the production of iron ore because it mines and exports far more than most other countries.





10 For a Brazilian firm, the process of exporting to international markets may include all of the following except


11 To protect a domestic industry from foreign competition by raising the price of foreign competitors’ products, Brazil could


12 Which of the following includes Brazil as a member?











13 Project Repat is classified as a(n) ______ because only a few people own shares of its stock.


14 Project Repat has a corporate charter. Which of the following would NOT likely be found in a corporate charter?


15 For a firm like Project Repat, one of the advantages of incorporation is


16 If Project Repat were to acquire another firm that makes or sells similar products in similar markets, it would be an example of a




17 If Ron agrees to use “book and hold” to boost his current month’s sales and therefore the firm’s revenues, which document used by investors, bankers, and others, will reflect this fact?


18 Pressure from superiors and investors or from media to make a firm’s numbers “look good” in order to drive its stock upward can contribute to employees making poor choices. When a firm inflates sales or earnings or deflates expenses in its financial reporting, this organization is engaging in


19 During the meeting with Kevin, one of Commodore’s auditors, he urges Ron to get his buyers to “take title” to products and to provide documentation before Ron “books and holds” the sales in advance of actual financial transactions. In this case, the auditor is seeking information to reduce


20 Kevin wants Ron to be able to provide physical documentation that his buyers will actually make the purchases he is going to “book and hold.” These documents can support his accounting practices in creating financial statements in case an outside firm examines the company’s financial statements called a(n)




21 Like many small businesses in the early stages, founder Jim Moon self-financed Moonworks. When the founder provides the primary funding for a small business, she or he is employing which form of financing?


22 When Jim Moon wanted to buy his firm’s building instead of renting it, to which of the following types of funding did he turn?

23 When Bank RI or any other bank assesses whether a business is creditworthy and capable of repaying a long- or short-term debt obligation, one of the first things they consider is the movement of money into and out of the firm, also known as



24 Which of the following forms of debt financing is unlikely to be used by a firm the size of Moonworks?


25 To help Moonworks expand and exploit opportunities it recognized, Bank RI granted a ______, which is a loan that is approved before the money is actually needed.







26 Only 3% of those who apply get jobs at the Container Store. Of which of the following selection tools does the company make heavy use according to the video?



27 The Container Store provides 260 hours of training for its employees, thirty times the national average. Which of the following best describes training?


28 After the Container Store forecasts human resources demand and supply, the firm is likely to engage in a systematic procedure for studying positions to determine their various elements and requirements. This is known as


29 During the Great Recession, the Container Store did not resort to eliminating positions or personnel, although many other retailers did. This human resources tool of dealing with the problem of having too many employees is known as



30 As the head Fruit Guy, Chris Mittelstaedt wants to treat everyone—employees, customers, and suppliers—fairly. The idea that people are motivated to obtain and preserve equitable treatment for themselves stems from


31 Like all companies, The Fruit Guys need to be concerned that employees have an internal process that energizes, directs, and sustains behavior in a way that helps the firm achieve its goals. This is best described as





32 When developing the human relations function at The Fruit Guys, Chris Mittelstaedt drew from his own unsatisfying experiences as an hourly employee trying to build a career and support a family. Consequently, he wanted his company to value employees’ opinions and to treat and reward them well. Which of the following theories does he most likely follow?


33 The Fruit Guys supply other companies with fresh fruit for their office break rooms. For those companies, the perk of fresh fruit may serve as a(n)_______, according to Frederick Herzberg.


34 Gabriel Farms, one of The Fruit Guys’ vendors, believes in paying its employees a “living wage,” which is higher than a typical minimum wage. Which of Abraham Maslow’s hierarchy of needs is satisfied by a living wage?







35 Raleigh has been making bicycles for more than a century and has built a reputation for quality that contributes to its brand loyalty. Satisfying and building long-term relationships with customers may be more profitable for the firm than identifying new ones. A measure of a customer’s worth to a business during one’s lifetime is called


36 To differentiate itself from competitors, Raleigh returned to its roots by making bicycles with all-steel frames. This differentiation suggests that Raleigh is using a market segmentation approach. Which of the following seems to be the primary basis Raleigh is using to segment the market for bicycles?


37 To help consumers gain information and experience with its products, Raleigh conducts rides in cities around the U.S. on its demo fleet. This best relates to which marketing mix element?


38 Raleigh’s marketing team gathers, records, and analyzes information about what its customers want by interacting with them in stores and on demo test rides, from blogs and from social media. For Raleigh, this information is


39 Like all firms, Raleigh must monitor the marketing environment and adjust its marketing mix and strategy as necessary. Which of the following directly relates to consumers’ ability to buy Raleigh bikes?



40 What level of market coverage is typically used for products like Honest Tea beverages?





41 Honest Tea was initially unable to sell its beverages through Safeway stores because the company lacked sufficient infrastructure for


42 To fulfill its mission of democratizing organics, Honest Tea must source products and ingredients from around the world to produce its beverages. Which of the following physical distribution activities is especially important in overseeing all those items so as to reduce storage, shipping, and other costs?


43 Getting Honest Tea’s beverages into retail stores where consumers can buy them (place utility) is most facilitated by which of the following physical distribution activities?






44 To help consumers gain knowledge and experience with Honest Tea beverages, it may set up stations to give free products to customers to encourage trial and purchase. This is known as a



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