The biggest gains in shortening the time-to-market come from all of the following EXCEPT: A. reducing wait time between design and production tasks. B. using off-the-shelf components where possible. C. duplication of effort. D. overlapping tasks where possible.

1. Which one of the following is cited most often as a source of new venture ideas?

A. Business associates

B. Friends and relatives

C. A similar business

D. Prior experience

Answer: __________

2. The biggest gains in shortening the time-to-market come from all of the following EXCEPT:

A. reducing wait time between design and production tasks.

B. using off-the-shelf components where possible.

C. duplication of effort.

D. overlapping tasks where possible.

Answer: __________

3. When setting up your new venture, the three (3) key factors for determining value in real estate are:

A. location, location, and location.

B. economic base, financial incentives, and demographics.

C. trade area, competition, and location character.

D. accessibility, cost of labor, and technology availability.

Answer: __________

4. Which one of the following is NOT one of the steps to take prior to writing a marketing plan?

A. Buy from a single supplier

B. Make a list of the options

C. Think like a customer

D. Study the competition

Answer: __________

5. Which of the following would you recommend to a new venture who needs to quickly and easily collect receivables from an overseas country? You would recommend a(n):

A. broker.

B. agent.

C. management consultant.

D. industrial distributor.

Answer: __________

6. Which of the following is NOT a principle of the Belmont Report?

A. Respect for persons

B. Beneficence

C. Justice

D. Compensation

Answer: __________

7. The agencies responsible for monitoring and enforcing health care fraud regulations are:

A. Departments of Justice and Health and Human Services.

B. Federal Bureau of Investigation and the Office of Homeland Security.

C. Individual states through the Attorney General’s office.

D. Departments of Health and Human Services and Social Security.

Answer: __________

8. The __________ concept is used to describe factors that facilitate fraud in industries where it is particularly rampant and where internal structures—economic, legal, organizational, and normative—play a role in generating criminal activity within the system.

A. repeat offenders

B. criminogenic industries

C. strain theory

D. rationalized criminality

Answer: __________

9. The two basic functions of regulatory agencies are:

A. social control and service.

B. criminal prosecution and enforcement.

C. research and development.

D. consumer protection and education.

Answer: __________

10. Courts use a three-pronged inquiry to determine whether a corporation will be held vicariously liable for the acts of its employees. Which of the following is NOT one of the elements courts must take into account to determine if a corporation is liable for the acts of its employees?

A. The individual must be acting within the scope and nature of his employment.

B. The individual must be acting, at least in part, to benefit the corporation.

C. The economic loss must exceed $25,000 or result in death or other physical harm to a consumer.

D. The employee’s act and intent must be imputed to the corporation.

Answer: __________

11. The two historical ethical theories that have permeated most business ethics discussions are:

A. utilitarianism and virtue ethics.

B. feminine ethics and rights theories.

C. Kantian ethics and common moral theory.

D. common moral theory and rights theories.

E. utilitarianism and Kantian ethics.

Answer: __________

12. In 1987 the United States Sentencing Commission set forth extensive sentencing guidelines for use in cases to determine corporate:

A. fraud.

B. liability.

C. character.

D. culpability.

E. retribution.

Answer: __________

13. Values that are acceptable to all cultures and all organizations are categorized (using the Integrative Social Contract Theory Global Values Map) as:

A. hypernorms.

B. consistent norms.

C. moral free space.

D. illegitimate norms.

E. microsocial norms.

Answer: __________

14. As a participant vested in a 401K plan with an aggressive investment portfolio, you are planning to retire in the next five years. You are most likely to subscribe to __________ theory.

A. Friedman’s stockholder

B. Freeman’s stakeholder

C. Hasna’s social responsibility

D. fair contract

E. contract relationship

Answer: __________

15. The United States government became increasingly concerned over the risks that employees faced in the workplace and devised a system to assist in the protection of workers from a variety of causes. The agency charged with enforcing that system is called:

A. EPA.

B. OSHA.

C. FDA.

D. FTC.

Answer: __________

16. Which of the following is NOT descriptive of interlocking directorates?

A. Interlocking directorates occur because large firms have a large impact on other corporations.

B. Interlocking directorates are more common in small, family-owned companies.

C. Interlocking directorates provide information about an uncertain environment.

D. Interlocking directorates provide objective expertise about a firm’s strategy.

Answer: __________

17. __________ knowledge is more valuable because it can provide companies with a sustainable competitive advantage that is harder for competitors to imitate.

A. Tacit

B. Explicit

C. Imitable

D. Transferable

E. Durable

Answer: __________

18. A common stock tied to one portion of a corporation’s business is known as __________.

A. tracking

B. holding

C. shareholder

D. tracked

E. split

Answer: __________

19. A responsibility center which is measured in terms of the difference between revenues measured in production and expenditures measured in resources is a(an) __________ center.

A. investment

B. revenue

C. expense

D. profit

E. standard cost

Answer: __________

20. Lead user teams are typically composed of employees from the __________.

A. accounting department

B. marketing department

C. technical department

D. finance department

E. marketing and technical departments

Answer: __________b

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