A core competency is a(n):
A. Quality control program exercised by many global companies
B. Important belief central to the culture of a multinational organization
C. Distinctive strength or advantage that is central to a firm's operations
D. National cultural characteristic passed on from generation to generation
E. Goal set by the upper management of a firm
Answer: C
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GEB Chapter 1
- The new era of business will:
- Profits equal _______.
- The impact of war and terrorism on U.S. business is that:
- Blake wanted to offer high-quality meals in his restaurant. His motto was "the best darn meat and potatoes for miles around." The locals agreed that the food was good. They also agreed that if you decided to eat there, be prepared to wait. Food preparation and service were slow. Although Blake's motto stated the business's competitive advantage, your accurate advice to Blake would be _______.
- To encourage entrepreneurial growth, governments might _______.
- Among the changes resulting from increased global trade are:
- One of the most serious negative results of the increased use of databases by companies has been:
- At Backstreet Books, Inc., the department manager uses a hand-held scanner to determine the quantity of each best seller the bookstore has on its shelves, how many copies of each book was sold the past week and the past month, and exactly when the next shipment of these books is expected to arrive. Backstreet Books embraces the strategy of _______.
- One of the results of the increase in the older population of the United States is:
- Since the mid-1980s, the __________ sector has generated the most increases in employment in the United States.
- Efficiency means _______.
- Lance and Laurie live on three acres of land in North Carolina, with two llamas, five goats, six chickens, and two dogs. The goats provide milk, cheese, yogurt and even fiber that is woven into yarn; the chickens provide free-range eggs; and the llamas serve as protection for the other animals. Although Lance and Laurie have other professional jobs, their home lifestyle represents _______.
- Which of the following circumstances is most likely to reduce one's standard of living?
- The number of businesses owned by immigrants, minority groups, and women has ________ in recent years.
- When corruption is evident in governments:
- Today, high-paying service-sector jobs in the U.S. can be found in ___________________.
- When referring to risk, which of the following statements is reasonable?
- Increased diversity of the population of the United States has:
- Darnell lives in an area where labor is plentiful and locations for start-ups are relatively cheap. He is also confident that he can find start-up funds for a graphic arts business. As he evaluates the opportunity for his proposed venture, which two other factors of production does he need to succeed?
- Which of the following is (are) not considered a factor of production?
- Judy started a business called Music and Memories™. She recognized that music, socialization, and memory-challenging activities for senior citizens helped maintain their cognitive skills for longer periods of time. Though she strives for a financial gain, she uses the excess funds for enriching her programs instead of a personal profit. Her organization is classified as:
- When developing and maintaining good stakeholder relationships, companies find that _______.
- Juan has many business ideas that could satisfy the unfulfilled needs of people who live in his community. However, there are laws that govern the type of businesses that private citizens can own and business taxes are high because the government subsidizes many social programs in his nation. In this case, challenges in the _________________ environment increase the risk of Juan starting a business.
- What must companies do to be competitive in today's market?
- The strategic-management process represents a(n) ________, ________, and ________ approach for determining an enterprise's future direction.