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BA 101 Midterm 3 University of Oregon
Exam and Practice Exam Final
securities and exchange commission (SEC) - Correct Ans: ✔✔Sale of stock / financial reporting - Full disclosure - Due diligence ... has to be thorough in finding and reporting information domestic corporations - Correct Ans: ✔✔Operate in state in which it is incorporated foreign corporations - Correct Ans: ✔✔Operate in states other than their state of incorporation alien corporations - Correct Ans: ✔✔Are organized in one country and operate in another common stock - Correct Ans: ✔✔Voting rights (proxy) Residual claims to assets preferred stock - Correct Ans: ✔✔No vote First claim on income a preferred dividend First claim on assets after debt
B corporation - Correct Ans: ✔✔are certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. Alignment with the "3P" approach - People, Planet and Profit Supported by the balanced scorecard concept Gaining credibility and recognition limited liability company (LLC) - Correct Ans: ✔✔combines the advantages of a Corporation and Sole Proprietorship and gets rid of the disadvantages The Good it keeps: Pass through Taxation (Sole Proprietorship) Flexibility (Sole Proprietorship) Limited Liability (Corporation) The Bad it gets rid of: Double Taxation (Corporation) Corporate Structure Corporation) Unlimited Liability (Sole Proprietorship) merger - Correct Ans: ✔✔two companies into one
A way to stimulate innovation in large, established organizations acts as an "inside entrepreneur" who focuses on innovation and creativity while operating within the goals and environment of an organization crowdsourcing - Correct Ans: ✔✔is the practice of obtaining needed services, ideas, or content by soliciting contributions from a large group of people, and especially from an online community, rather than from traditional employees or suppliers. feasibility analysis - Correct Ans: ✔✔Is not the same as a business plan Serves as a filter, screening out ideas that lack the potential for building a successful business before an entrepreneur commits the necessary resources to building a business plan Is an investigative tool Asks two questions: Are customers willing to purchase our goods or services? Can we provide the products or services to customers at a profit? capital requirements - Correct Ans: ✔✔Must have an estimate of how much start-up capital is required to launch the business estimated earnings - Correct Ans: ✔✔Forecasted income statements
return on investment - Correct Ans: ✔✔Combining the estimated earning and capital requirements to determine how much investors can expect their investments to return business plan - Correct Ans: ✔✔A systematic evaluation of a venture's chances for success A way to determine the risks facing a venture A game plan for managing a business successfully A tool for comparing actual and target results An important tool for attracting capital A "road map" for the venture financial forecast - Correct Ans: ✔✔Projected financial statements Monthly for one year Quarterly for the next two years Income statement Balance sheet Cash Flow Capital expenditures Three forecasts: Pessimistic. Most Likely, Optimistic equity capital - Correct Ans: ✔✔Represents the personal investment of the owner(s) in the business
Different than traditional marketing in that it often relies on personal interaction, has a smaller budget, and focuses on smaller groups of promoters vision - Correct Ans: ✔✔An encompassing explanation of why the organization exists and where it's trying to go. It is more than a goal mission statement - Correct Ans: ✔✔An outline of the fundamental purposes of an organization goals - Correct Ans: ✔✔The broad, long-term accomplishments an organization wishes to attain. objectives - Correct Ans: ✔✔Specific, short-term statements detailing how to achieve the organization's goals. They are often quantified with target numerics and/or dates. SWOT analysis - Correct Ans: ✔✔A planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats. strategic planning - Correct Ans: ✔✔Determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.
tactical planning - Correct Ans: ✔✔Developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done. operational planning - Correct Ans: ✔✔Setting work standards and schedules necessary to implement the company's tactical objectives. contingency planning - Correct Ans: ✔✔Preparing alternative courses of action that may be used if the primary plans don't achieve the organization's objectives. problem solving - Correct Ans: ✔✔The process of solving the everyday problems that occur; less formal than decision making and usually calls for quicker action. brainstorming - Correct Ans: ✔✔Produce an idea or way of solving a problem by holding a spontaneous group discussion without criticism PMi - Correct Ans: ✔✔Listing all the pluses for a solution in one column, all the minuses in another, and the implications in a third column. chief executive officer (CEO) - Correct Ans: ✔✔Introduces change into an organization.
participative or democratic leadership - Correct Ans: ✔✔Managers and employees work together to make decisions. free-rein leadership - Correct Ans: ✔✔Managers set objectives and employees are relatively free to do whatever it takes to accomplish those objectives. rationalist - Correct Ans: ✔✔Values sound thinking humanist - Correct Ans: ✔✔Regards people as company's top asset politicist - Correct Ans: ✔✔Adept at politics culturist - Correct Ans: ✔✔Communicates through stories, ceremonies, and rituals enabling - Correct Ans: ✔✔Giving workers the education and tools they need to make decisions. knowledge management - Correct Ans: ✔✔Finding the right information, keeping the information in a readily accessible place, and making the information known to everyone in the firm. This tries to keep people from reinventing the wheel.
control function - Correct Ans: ✔✔Measures performance relative to planned objectives Rewards people for work well done Takes necessary corrective action world trade organization (WTO) - Correct Ans: ✔✔Police force for the world trading system international monetary fund (IMF) - Correct Ans: ✔✔Maintains order in the international monetary system world bank - Correct Ans: ✔✔Promotes economic development United Nations (UN) - Correct Ans: ✔✔Maintains international peace and security Develops friendly relations among nations Cooperates in solving international problems Promotes respect for human rights international trade - Correct Ans: ✔✔the sale of goods or services to another country
trade surplus - Correct Ans: ✔✔When the value of a country's exports is more than that of its imports. trade deficit - Correct Ans: ✔✔When the value of a country's exports is less than that of its imports. balance of payments - Correct Ans: ✔✔The difference between money coming into a country (from exports) and money leaving the country (from imports) plus other money flows. tariff - Correct Ans: ✔✔a tax levied on imports, raising the cost of imported products relative to domestic products subsidy - Correct Ans: ✔✔is a government payment to a domestic producer import quota - Correct Ans: ✔✔is a direct restriction on the quantity of goods imported into a country tariff rate quota - Correct Ans: ✔✔are a hybrid of a quota and a tariff, lower tariffs within the quota, higher tariffs over the quota
voluntary export restraint - Correct Ans: ✔✔are quotas on trade imposed by the exporting country, typically at the request of the importing country's government dumping - Correct Ans: ✔✔is selling goods in a foreign market below their cost of production, or selling goods in a foreign market at below their "fair" market value licensing - Correct Ans: ✔✔When a firm (licensor) provides the right to manufacture its product or use its trademark to a foreign company (licensee) for a fee (royalty). franchising - Correct Ans: ✔✔A contractual agreement whereby someone with a good idea for a business sells others the rights to use the name and sell a product/service in a given area. contract manufacturing - Correct Ans: ✔✔A foreign company produces private-label goods to which a domestic company then attaches its own brand name or trademark. A form of outsourcing. join venture - Correct Ans: ✔✔A partnership in which two or more companies join to undertake a major project.
trade protectionism - Correct Ans: ✔✔The use of government regulations to limit the import of goods and services. import embargo - Correct Ans: ✔✔A complete ban on the import or export of a certain product or the stopping of all trade with a particular country. common market - Correct Ans: ✔✔A regional group of countries with a common external tariff, no internal tariffs and coordinated laws to facilitate exchange among members. outsourcing - Correct Ans: ✔✔A process by which a firm contracts with other companies to do some or all of its functions. ethics - Correct Ans: ✔✔The standards of moral behavior. Behaviors that are accepted by society as right versus wrong. Friedman Doctrine - Correct Ans: ✔✔Milton Friedman's basic position is that the only social responsibility of business is to increase profits, as long as the company stays within the law and the rules of the game without deception or fraud. Freeman: a stakeholder theory - Correct Ans: ✔✔Corporations are no longer simply 'profit-machines'. Which means that Corporations cannot be thought of as being responsible to only one group, but must be seen
to bear responsibilities to all of the individuals their activities affect, and upon whom their existence depends. business law - Correct Ans: ✔✔The legal & regulatory environment common law - Correct Ans: ✔✔The law judges establish while deciding disputes. statutory law - Correct Ans: ✔✔Laws enacted by a federal or state legislature. administrative law - Correct Ans: ✔✔Regulations passed by state and federal administrative agencies. trial court - Correct Ans: ✔✔The dispute is first heard Fed = US District; State = Circuit, Superior = Common Pleas; Specific State courts = Probate or Small claims. appellate court - Correct Ans: ✔✔The dispute can be heard again if lower court errors. criminal law - Correct Ans: ✔✔a dispute between the government and an individual Punished by fines and or imprisonment.
trademark - Correct Ans: ✔✔Symbols used by firms to identify,an exclusive right that protects the creators of original works of authorship such as literary, dramatic, musical, and artistic works patent - Correct Ans: ✔✔Inventors get exclusive right to inventions ( years) trademark - Correct Ans: ✔✔Any distinctive word, symbol, design, sound, name, logo, slogan, or trade dress a company uses to identify the origin of a product or to distinguish it from other goods on the market. breach of contract - Correct Ans: ✔✔A violation of a valid contract where the injured party goes to court to enforce contract and (sometimes) collect damages agency - Correct Ans: ✔✔Acts on behalf of another (in other's interest) elements of a contract - Correct Ans: ✔✔legal purpose, consideration, voluntary agreement contractual capacity - Correct Ans: ✔✔Individuals that lack the capacity to enter into a contract include those who are: Minors (under the age of 18)
Mentally unstable, mentally incapable, or insane Intoxicated Under duress or coercion regulation - Correct Ans: ✔✔a law that controls the way that a business can operate business model - Correct Ans: ✔✔describes the rationale of how an organization creates, delivers, and captures value sole properietorship - Correct Ans: ✔✔Easy, quick, simple and affordable, Full control with minimal administration, Adaptable The Challenges: Risk and personal exposure, Credibility - only as good as yours, Raising additional capital partnership - Correct Ans: ✔✔Voluntary association Unlimited liability Mutual agency - (one bad apple) Limited life Limited access to $ Partners keep control Relatively unregulated Single taxation
