1.What do you think are the responsibilities of MNCs toward the environment? Give an example of a MNC that has seriously harmed (or repaired) the environment of a host country? What is your reaction to what happened?

  

1. Which of the following are personal computing tools?

A. SQL

B. Database management systems

C. CASE

D. DSS

2. The goal of systems identification and selection is:

A. to identify a project from all possible projects that could be performed.

B. to identify and purchase a project from all possible projects that could be performed.

C. to identify and select a project from all possible projects that could be performed.

D. None of the above

3. __________ is/are important to discover issues, policies, and rules, as well as concrete examples of the use of data and information in the organization.

A. Interviews

B. Document analysis

C. Observations

D. Questionnaires

4. __________, a systems development methodology, uses a trial and error approach for discovering how a system could operate.

A. Prototyping

B. RAD

C. JAD

D. Object-oriented analysis and design

5. Which of the following is most likely NOT purchased as a prepackaged IT system?

A. Human resources

B. Payroll

C. Accounting

D. Company Web page

6. The four types of software conversion strategies include:

A. parallel, direct, phased, and pilot.

B. identification, analysis, implementation, and maintenance.

C. reference, discontinued, installation, and single location.

D. reuse, discontinued, implementation, and single location.

7. The types of outsourcing relationships identified are:

A. basic, preferred, and strategic.

B. incidental, preferred, and strategic.

C. basic, incidental, and strategic.

D. basic, preferred, and incidental.

8. __________ is the process of gathering and organizing information form users, managers, business processes, and documents to understand how a proposed information system should function.

A. Design analysis

B. Requirements collection

C. System identification

D. None of the above

9. End-user development is usually reserved for:

A. systems that span organizational boundaries.

B. perform complex operations.

C. developing corporate databases.

D. None of the above

10. __________ represent(s) the way in which data are transformed.

A. Processing logic

B. System design

C. System logic

D. Data flows

11. SDLC is short for:

A. systems development learning cycle.

B. systems deployment learning cycle.

C. systems development life cycle.

D. systems deployment life cycle.

12. __________ is testing the overall system to see whether it meets design requirements.

A. Alpha testing

B. Beta testing

C. Developmental testing

D. Systems testing

13. Which of the following is NOT a commonly used criteria for evaluating software?

A. Memory requirements

B. Training and documentation

C. Access time D. Maintenance and repair

14. A __________ is a business document containing only predefined data.

A. form

B. report

C. dialogue

D. file

15. Which of the following is a type of development methodology that analysts use to identify common modules that combine the data and the operations to be performed?

A. Prototyping

B. RAD

C. JAD

D. Object-oriented analysis and design

16. The five phases of the SDLC in order from first to last are:

A. identification, analysis, design, implementation, and maintenance.

B. analysis, identification, design, implementation, and maintenance.

C. identification, design, analysis, implementation, and maintenance.

D. analysis, design, identification, implementation, and maintenance.

17. Projects identified by top management tend to have a:

A. strategic organizational focus.

B. financial focus.

C. production focus.

D. diverse focus.

18. The collection and structuring of __________ is arguably the most important activity in systems development.

A. system requirements

B. system design

C. system implementation

D. system identification

19. Interfaces that enable the user to select pictures, icons, and menus to send instructions to the computer are referred to as:

A. database systems.

B. GUIs.

C. information system software.

D. files.

20. __________ are criteria used by organizations to evaluate whether to accept or reject a project.

A. Strategic alignments and risks

B. Potential benefits and project size

C. Potential costs and resource availability

D. All of the above

  

Meeting notices should include the:
A. day, date, time, and location; and an agenda.
B. name of the committee or meeting group; day, date, time, and location; purpose of the meeting, and an agenda.
C. name of the committee or meeting group; day, date, time, and location; and a agenda.
D. name of the committee or meeting group; day, date, time, and location; purpose, any other applicable information, and an agenda.
 

Question 12 of 20
 

The last paragraph(s) of formal and informal minutes should:
A. be initialed by the president.
B. focus on the important business of the day.
C. give the date and time of the next meeting as well as the time of adjournment.
D. indicate the time the meeting was called to order by the facilitator.
 

Question 13 of 20
 

A type of equipment that allows a facilitator to write, draw, or type to a board and print the information is a(n):
A. computer.
B. overhead projector.
C. electronic writing board.
D. electronic paging system.
 

Question 14 of 20
 

An advancement in technology that allows a variety of people to come together for a meeting without being in the same location is:
A. electronic paging.
B. the World Wide Web.
C. videoconferencing.
D. a graphics presentation.
 

Question 15 of 20
 

To make sure that attendees are prepared for a meeting, the meeting notice usually includes:
A. the menu for the meal function.
B. an itemized list of the Board’s expenses.
C. a list of materials to bring to the meeting.
D. the date of the next meeting of the Board.
 

Question 16 of 20
 

Minutes that are written in chronological order are in the order in which the:
A. business was conducted.
B. participants suggested topics.
C. topics were received.
D. reports were given.
 

Question 17 of 20
 

For effective meetings, an agenda should be:
A. distributed at least three to five days before the meeting.
B. not distributed at all.
C. mailed to the participants.
D. posted prior to the meeting.
 

Question 18 of 20
 

Materials such as __________ may be attached to an agenda.
A. correspondence and reports
B. templates
C. an outline for minutes to be taken
D. role of participants
 

Question 19 of 20
 

Which example indicates the agenda items are written in parallel form?
A. Treasurer’s Report; Announcing Committee Chairs, Reporting Old Business
B. Treasurer’s Report, Announcement of Committee Chairs, Reporting Old Business
C. Reporting the Committee on Credentials, Reporting Old Business, New Business
D. Report of the Committee on Credentials, Report on Old Business, Report on New Business
 

Question 20 of 20
 

The format of an agenda will vary with the:
A. length of the meeting.
B. guest speaker’s topic.
C. circumstances of the meeting.
D. reading of the minutes.

  

Question 1: The Enron scandal illustrates the extent to which the decision-making process can fail. TIME magazine has done an extensive look at the demise of this company and the collateral damage inflicted on stockholders, suppliers, customers, and employees.
Navigate to http://www.time.com/time/2002/enron/. There you will find two interesting articles entitled California Scheming” and How Fastow Helped Enron Fail. Relate this article to the failure to Escalation of Commitment and Ethics in Decision Making that you read about in your text.

  

BUS 401 Week 4 

1. JP Corp. has a retained earnings balance of $1,000,000. The company reported net income of $300,000, sales of $2,000,000, and had 100,000 shares of common stock outstanding. The company announced a dividend of $1 per share. Therefore, the companys dividend payout ration is ___.

a. 10% b. 33.3%  c. 50% d. 100%

2. Financial leverage could mean financing some of a firms assets with ___.

a. Common stock b. Retained earnings c. Corporate bonds d. Sales revenue

3. Dividend policy is influenced by ___.

a. A companys investment opportunities.

b. A firms capital structure mix.

c. A companys availability of internally generated funds.

d. All of the above.

4. The break even point in sales dollars is convenient if ___.

a. The firm sells a large amount of one product

b. The firm deals with more than one product

c. The price per unit is very low

d. Depreciation expense is high

5. Which of the following will result from a stock repurchase?

a. Earnings per share will rise

b. Number of shares will increase

c. Corporate cash is conserved

d. Ownership is diluted

6. Stock dividends ___.

a. Decrease stock prices because no cash goes to shareholders but companies pay transaction costs

b. May increase stock prices if the dividend is used to maintain an optimal trading range for common stock.

c. May increase stock prices if investors perceive the dividend as containing favorable information about the firms future prospects.

d. Both b and c are true.

7. Break even analysis is used to study the effect on EFT of changes in all of the following except:

a. Corporate taxes

b. Prices

c. Cost structure

d. Volume

8. The final approval of a dividend payment comes from ___.

a. The controller

b. The president of the company

c. The board of directors

d. It is a joint decision requiring approval from all of the above.

9. Dividends generally ___.

a. Are paid as a fixed percentage of earnings

b. Fluctuate more than earnings

c. Are guaranteed by the SEC

d. Are more stable than earnings

10. A justification for no dividend payments that would be pleasing to shareholders could be ___.

a. Insufficient cash available for dividend payments

b. Positive NPQ investment projects that require the firm to retain cash for investment purposes

c. An investor clientele that prefers current liquidity

d. Cash will be used for a stock dividend

 

1.  Payback Analysis

Two new wind-farm tower projects are proposed for a small company that installs them in south western Pennsylvania. Project A will cost $250,000 to complete and is expected to have an annual net cash flow of $75,000. Project B will cost $150,000 to complete and should generate annual net cash flows of $52,000. As a small company, the owner and senior management team are very concerned about their cash flow.

Use the payback period method and determine which project is better from a cash flow standpoint. 

Show your work and include any formulas used to calculate PP.

2.  Net Present Value

A recent project nominated for consideration at your company has a four-year cash flow of $20,000; $25,000; $30,000; and $50,000. The cost of the project is $75,000.

a.  If the required rate of return is 20%, conduct a discounted cash flow calculation to determine the NPV.

b.  What is the benefit-cost ratio for the project?

c.  What would the NPV of the above project be if the inflation rate was expected to be 4% in each of the next four years?

You will be assessed on the correctness of your calculations (40 points) and on presenting your work and results in a professional manner (10 points)

  

1. Which of the following statements about the service sector of the American economy is true?
Over the next two decades the service sector in the U.S. will decline in monetary importance.
The service sector accounts for fewer than 30 percent of all jobs in the U.S.
Spending in the service sector today captures almost 20 cents of every consumer dollar.
The service sector in the U.S. produces a balance-of-trade surplus annually.
 

2. Which of the following is the BEST example of a service product?
Your motel stay
Permission from the hotel to pay for your stay with a credit card
The toll-free number you call to check on your motel reservation
The delivery of your luggage to the motel room
 

3. Which of the following is the BEST example of a service?
Surgery to correct nearsightedness
The complementary newspaper left outside your hotel room door
A transcontinental airplane trip
Repairs made to your lawn mower
 

4. During Jack and Leah’s first visit to the marriage counselor, Jack inspected all of the diplomas and certificates the counselor had prominently displayed on her wall. The most likely reason why the counselor displayed her diplomas and certificates was to:
comply with government regulation.
provide tangible evidence of her ability to perform the service required.
reduce the probability of fluctuating demand.
differentiate her counseling service from all other services.
 

5. The promotional element of the traditional marketing mix is more important for services than it is for goods because services are:
homogeneous.
inventoried.
intangible.
simultaneously demanded and supplied.
 

6. Services that are __________, and markets for these services, fluctuate by season, days, or time of day.
tangible
intangible
perishable
insufficient
 

7. Tangibles include ___________.
perishable goods
the physical evidence of the services
cyclical stability
demographic factors
 

8. Off-peak pricing:
is used to overcome problems associated with the homogeneity of services.
is a strategy used to deal with fluctuating demand for services.
creates time, place, and form utility.
is used to separate the service provider from the service.
 

9. If you were asked to distinguish between a service and a good, you could correctly say:
the customer is the end user for services, and the co-producer for goods.
collaboration between buyer and seller is highest for goods.
a greater number of brands of services are available than brands of goods.
the customer owns a good, but owns the memory of a service.

10. Which of the following statements about products and services is true?
Collaboration is higher between the buyer and seller of a product, than between the buyer and seller of a service.
The goal of producing a service is uniqueness; the goal of producing a product is uniformity.
Quality control activities for both services and products compare expectations to experience.
With both products and services, the consumer is the end user and not involved in the production process.
 

11. Which of the following is an example of a defensive strategic goal that might be used to explain why MTV developed MTV European, a pan-European cable and satellite system that transmits music-based programming across the continent?
To maximize its total sales revenues
To improve its overall market position
To increase its long-term growth and profit prospects
To preempt competitors’ global moves
 

12. There is a small, but growing, market for golfing equipment in China. Which of the following is an example of a defensive strategic goal that can be used to explain why American manufacturers of golfing equipment like Wilson and Titleist are eager to export their products to the Chinese?
To improve overall market position
To increase long-term growth and profit prospects
To avoid being locked out of markets by arriving too late
To take advantage of economies of scale
 

13. ExxonMobile opened its first On the Run store in Chile. The store combines the familiar pumping islands out front, convenience stores, and separate food courts. The success of that store led to the opening of more than 300 On the Run stores worldwide. Which of the following is an example of an offensive strategic goal that can explain why ExxonMobil developed On the Run stores?
To increase long-term growth and profit prospects
To take advantage of significant differences in operating costs between countries
To preempt competitors from opening similar stores
To avoid being locked out of markets by arriving too late
 

14. Which of the following is an example of an offensive strategic goal that might be used to explain why Eastman Kodak is eager to expand into new international markets?
To preempt its competitors’ global moves
To increase its long-term growth and profit prospects
To compete with foreign companies on their own turf instead of in the United States
To take advantage of significant differences in operating costs in other countries
 

15. When Procter & Gamble introduced Pampers disposable diapers in Japan, it used basically the same pricing strategy as it used in the United States. P&G did not realize the typical Japanese mother changes her baby about 14 times a day – twice as often as her U.S. counterpart. Thus, Pampers were too expensive for the Japanese market. What kind of a problem did P&G experience when it introduced Pampers?
Cultural misunderstanding
Communications divergence
Too heavy an emphasis on penetration pricing
Promotional dichotomy
 

16. Which of the following describes a problem a company can experience when entering a foreign market?
Cultural misunderstandings
Import restrictions
Political uncertainty
All of the above
 

17. Exchange controls are usually used by:
companies that are intermittent exporters.
industries that are selling commodities.
nations with a strong service sector.
nations that are experiencing balance-of-payment problems.
 

18. _____ companies pursue different strategies in each of their foreign markets. They could have as many different product variations, brand names, and advertising campaigns as countries in which they operate.
Multidomestic
Transnational
Global
Ethnocentric
 

19. Breath Right nasal strips are adhesive pads with a small spring inside that, when attached to the nose, pull the nasal passages open and make it easier to breathe. Their manufacturer, CNS, Inc., sells the nasal strips to countries on four different continents by using standardized marketing activities. CNS, Inc., is an example of a(n) _____ company.
multidomestic
transnational
global
ethnocentric
 

20. How does the multidomestic corporation differ from the global corporation?
The multidomestic companies rely on management teams made up of nationals; global corporations use management teams from the home office.
Multidomestic companies are highly centralized, while global corporations are highly decentralized.
Multidomestic companies use a standardized marketing strategy; globalized companies use an adaptive marketing strategy.
Multidomestic companies pursue different strategies in each of their foreign markets; globalized companies use the same strategy regardless of boundaries.  

1. Which of the following statements about the service sector of the American economy is true?
Over the next two decades the service sector in the U.S. will decline in monetary importance.
The service sector accounts for fewer than 30 percent of all jobs in the U.S.
Spending in the service sector today captures almost 20 cents of every consumer dollar.
The service sector in the U.S. produces a balance-of-trade surplus annually.
 

2. Which of the following is the BEST example of a service product?
Your motel stay
Permission from the hotel to pay for your stay with a credit card
The toll-free number you call to check on your motel reservation
The delivery of your luggage to the motel room
 

3. Which of the following is the BEST example of a service?
Surgery to correct nearsightedness
The complementary newspaper left outside your hotel room door
A transcontinental airplane trip
Repairs made to your lawn mower
 

4. During Jack and Leah’s first visit to the marriage counselor, Jack inspected all of the diplomas and certificates the counselor had prominently displayed on her wall. The most likely reason why the counselor displayed her diplomas and certificates was to:
comply with government regulation.
provide tangible evidence of her ability to perform the service required.
reduce the probability of fluctuating demand.
differentiate her counseling service from all other services.
 

5. The promotional element of the traditional marketing mix is more important for services than it is for goods because services are:
homogeneous.
inventoried.
intangible.
simultaneously demanded and supplied.
 

6. Services that are __________, and markets for these services, fluctuate by season, days, or time of day.
tangible
intangible
perishable
insufficient
 

7. Tangibles include ___________.
perishable goods
the physical evidence of the services
cyclical stability
demographic factors
 

8. Off-peak pricing:
is used to overcome problems associated with the homogeneity of services.
is a strategy used to deal with fluctuating demand for services.
creates time, place, and form utility.
is used to separate the service provider from the service.
 

9. If you were asked to distinguish between a service and a good, you could correctly say:
the customer is the end user for services, and the co-producer for goods.
collaboration between buyer and seller is highest for goods.
a greater number of brands of services are available than brands of goods.
the customer owns a good, but owns the memory of a service.

10. Which of the following statements about products and services is true?
Collaboration is higher between the buyer and seller of a product, than between the buyer and seller of a service.
The goal of producing a service is uniqueness; the goal of producing a product is uniformity.
Quality control activities for both services and products compare expectations to experience.
With both products and services, the consumer is the end user and not involved in the production process.
 

11. Which of the following is an example of a defensive strategic goal that might be used to explain why MTV developed MTV European, a pan-European cable and satellite system that transmits music-based programming across the continent?
To maximize its total sales revenues
To improve its overall market position
To increase its long-term growth and profit prospects
To preempt competitors’ global moves
 

12. There is a small, but growing, market for golfing equipment in China. Which of the following is an example of a defensive strategic goal that can be used to explain why American manufacturers of golfing equipment like Wilson and Titleist are eager to export their products to the Chinese?
To improve overall market position
To increase long-term growth and profit prospects
To avoid being locked out of markets by arriving too late
To take advantage of economies of scale
 

13. ExxonMobile opened its first On the Run store in Chile. The store combines the familiar pumping islands out front, convenience stores, and separate food courts. The success of that store led to the opening of more than 300 On the Run stores worldwide. Which of the following is an example of an offensive strategic goal that can explain why ExxonMobil developed On the Run stores?
To increase long-term growth and profit prospects
To take advantage of significant differences in operating costs between countries
To preempt competitors from opening similar stores
To avoid being locked out of markets by arriving too late
 

14. Which of the following is an example of an offensive strategic goal that might be used to explain why Eastman Kodak is eager to expand into new international markets?
To preempt its competitors’ global moves
To increase its long-term growth and profit prospects
To compete with foreign companies on their own turf instead of in the United States
To take advantage of significant differences in operating costs in other countries
 

15. When Procter & Gamble introduced Pampers disposable diapers in Japan, it used basically the same pricing strategy as it used in the United States. P&G did not realize the typical Japanese mother changes her baby about 14 times a day – twice as often as her U.S. counterpart. Thus, Pampers were too expensive for the Japanese market. What kind of a problem did P&G experience when it introduced Pampers?
Cultural misunderstanding
Communications divergence
Too heavy an emphasis on penetration pricing
Promotional dichotomy
 

16. Which of the following describes a problem a company can experience when entering a foreign market?
Cultural misunderstandings
Import restrictions
Political uncertainty
All of the above
 

17. Exchange controls are usually used by:
companies that are intermittent exporters.
industries that are selling commodities.
nations with a strong service sector.
nations that are experiencing balance-of-payment problems.
 

18. _____ companies pursue different strategies in each of their foreign markets. They could have as many different product variations, brand names, and advertising campaigns as countries in which they operate.
Multidomestic
Transnational
Global
Ethnocentric
 

19. Breath Right nasal strips are adhesive pads with a small spring inside that, when attached to the nose, pull the nasal passages open and make it easier to breathe. Their manufacturer, CNS, Inc., sells the nasal strips to countries on four different continents by using standardized marketing activities. CNS, Inc., is an example of a(n) _____ company.
multidomestic
transnational
global
ethnocentric
 

20. How does the multidomestic corporation differ from the global corporation?
The multidomestic companies rely on management teams made up of nationals; global corporations use management teams from the home office.
Multidomestic companies are highly centralized, while global corporations are highly decentralized.
Multidomestic companies use a standardized marketing strategy; globalized companies use an adaptive marketing strategy.
Multidomestic companies pursue different strategies in each of their foreign markets; globalized companies use the same strategy regardless of boundaries.  

1. Which of the following statements about the service sector of the American economy is true?
Over the next two decades the service sector in the U.S. will decline in monetary importance.
The service sector accounts for fewer than 30 percent of all jobs in the U.S.
Spending in the service sector today captures almost 20 cents of every consumer dollar.
The service sector in the U.S. produces a balance-of-trade surplus annually.
 

2. Which of the following is the BEST example of a service product?
Your motel stay
Permission from the hotel to pay for your stay with a credit card
The toll-free number you call to check on your motel reservation
The delivery of your luggage to the motel room
 

3. Which of the following is the BEST example of a service?
Surgery to correct nearsightedness
The complementary newspaper left outside your hotel room door
A transcontinental airplane trip
Repairs made to your lawn mower
 

4. During Jack and Leah’s first visit to the marriage counselor, Jack inspected all of the diplomas and certificates the counselor had prominently displayed on her wall. The most likely reason why the counselor displayed her diplomas and certificates was to:
comply with government regulation.
provide tangible evidence of her ability to perform the service required.
reduce the probability of fluctuating demand.
differentiate her counseling service from all other services.
 

5. The promotional element of the traditional marketing mix is more important for services than it is for goods because services are:
homogeneous.
inventoried.
intangible.
simultaneously demanded and supplied.
 

6. Services that are __________, and markets for these services, fluctuate by season, days, or time of day.
tangible
intangible
perishable
insufficient
 

7. Tangibles include ___________.
perishable goods
the physical evidence of the services
cyclical stability
demographic factors
 

8. Off-peak pricing:
is used to overcome problems associated with the homogeneity of services.
is a strategy used to deal with fluctuating demand for services.
creates time, place, and form utility.
is used to separate the service provider from the service.
 

9. If you were asked to distinguish between a service and a good, you could correctly say:
the customer is the end user for services, and the co-producer for goods.
collaboration between buyer and seller is highest for goods.
a greater number of brands of services are available than brands of goods.
the customer owns a good, but owns the memory of a service.

10. Which of the following statements about products and services is true?
Collaboration is higher between the buyer and seller of a product, than between the buyer and seller of a service.
The goal of producing a service is uniqueness; the goal of producing a product is uniformity.
Quality control activities for both services and products compare expectations to experience.
With both products and services, the consumer is the end user and not involved in the production process.
 

11. Which of the following is an example of a defensive strategic goal that might be used to explain why MTV developed MTV European, a pan-European cable and satellite system that transmits music-based programming across the continent?
To maximize its total sales revenues
To improve its overall market position
To increase its long-term growth and profit prospects
To preempt competitors’ global moves
 

12. There is a small, but growing, market for golfing equipment in China. Which of the following is an example of a defensive strategic goal that can be used to explain why American manufacturers of golfing equipment like Wilson and Titleist are eager to export their products to the Chinese?
To improve overall market position
To increase long-term growth and profit prospects
To avoid being locked out of markets by arriving too late
To take advantage of economies of scale
 

13. ExxonMobile opened its first On the Run store in Chile. The store combines the familiar pumping islands out front, convenience stores, and separate food courts. The success of that store led to the opening of more than 300 On the Run stores worldwide. Which of the following is an example of an offensive strategic goal that can explain why ExxonMobil developed On the Run stores?
To increase long-term growth and profit prospects
To take advantage of significant differences in operating costs between countries
To preempt competitors from opening similar stores
To avoid being locked out of markets by arriving too late
 

14. Which of the following is an example of an offensive strategic goal that might be used to explain why Eastman Kodak is eager to expand into new international markets?
To preempt its competitors’ global moves
To increase its long-term growth and profit prospects
To compete with foreign companies on their own turf instead of in the United States
To take advantage of significant differences in operating costs in other countries
 

15. When Procter & Gamble introduced Pampers disposable diapers in Japan, it used basically the same pricing strategy as it used in the United States. P&G did not realize the typical Japanese mother changes her baby about 14 times a day – twice as often as her U.S. counterpart. Thus, Pampers were too expensive for the Japanese market. What kind of a problem did P&G experience when it introduced Pampers?
Cultural misunderstanding
Communications divergence
Too heavy an emphasis on penetration pricing
Promotional dichotomy
 

16. Which of the following describes a problem a company can experience when entering a foreign market?
Cultural misunderstandings
Import restrictions
Political uncertainty
All of the above
 

17. Exchange controls are usually used by:
companies that are intermittent exporters.
industries that are selling commodities.
nations with a strong service sector.
nations that are experiencing balance-of-payment problems.
 

18. _____ companies pursue different strategies in each of their foreign markets. They could have as many different product variations, brand names, and advertising campaigns as countries in which they operate.
Multidomestic
Transnational
Global
Ethnocentric
 

19. Breath Right nasal strips are adhesive pads with a small spring inside that, when attached to the nose, pull the nasal passages open and make it easier to breathe. Their manufacturer, CNS, Inc., sells the nasal strips to countries on four different continents by using standardized marketing activities. CNS, Inc., is an example of a(n) _____ company.
multidomestic
transnational
global
ethnocentric
 

20. How does the multidomestic corporation differ from the global corporation?
The multidomestic companies rely on management teams made up of nationals; global corporations use management teams from the home office.
Multidomestic companies are highly centralized, while global corporations are highly decentralized.
Multidomestic companies use a standardized marketing strategy; globalized companies use an adaptive marketing strategy.
Multidomestic companies pursue different strategies in each of their foreign markets; globalized companies use the same strategy regardless of boundaries.  

1. Which of the following statements about the service sector of the American economy is true?
Over the next two decades the service sector in the U.S. will decline in monetary importance.
The service sector accounts for fewer than 30 percent of all jobs in the U.S.
Spending in the service sector today captures almost 20 cents of every consumer dollar.
The service sector in the U.S. produces a balance-of-trade surplus annually.
 

2. Which of the following is the BEST example of a service product?
Your motel stay
Permission from the hotel to pay for your stay with a credit card
The toll-free number you call to check on your motel reservation
The delivery of your luggage to the motel room
 

3. Which of the following is the BEST example of a service?
Surgery to correct nearsightedness
The complementary newspaper left outside your hotel room door
A transcontinental airplane trip
Repairs made to your lawn mower
 

4. During Jack and Leah’s first visit to the marriage counselor, Jack inspected all of the diplomas and certificates the counselor had prominently displayed on her wall. The most likely reason why the counselor displayed her diplomas and certificates was to:
comply with government regulation.
provide tangible evidence of her ability to perform the service required.
reduce the probability of fluctuating demand.
differentiate her counseling service from all other services.
 

5. The promotional element of the traditional marketing mix is more important for services than it is for goods because services are:
homogeneous.
inventoried.
intangible.
simultaneously demanded and supplied.
 

6. Services that are __________, and markets for these services, fluctuate by season, days, or time of day.
tangible
intangible
perishable
insufficient
 

7. Tangibles include ___________.
perishable goods
the physical evidence of the services
cyclical stability
demographic factors
 

8. Off-peak pricing:
is used to overcome problems associated with the homogeneity of services.
is a strategy used to deal with fluctuating demand for services.
creates time, place, and form utility.
is used to separate the service provider from the service.
 

9. If you were asked to distinguish between a service and a good, you could correctly say:
the customer is the end user for services, and the co-producer for goods.
collaboration between buyer and seller is highest for goods.
a greater number of brands of services are available than brands of goods.
the customer owns a good, but owns the memory of a service.

10. Which of the following statements about products and services is true?
Collaboration is higher between the buyer and seller of a product, than between the buyer and seller of a service.
The goal of producing a service is uniqueness; the goal of producing a product is uniformity.
Quality control activities for both services and products compare expectations to experience.
With both products and services, the consumer is the end user and not involved in the production process.
 

11. Which of the following is an example of a defensive strategic goal that might be used to explain why MTV developed MTV European, a pan-European cable and satellite system that transmits music-based programming across the continent?
To maximize its total sales revenues
To improve its overall market position
To increase its long-term growth and profit prospects
To preempt competitors’ global moves
 

12. There is a small, but growing, market for golfing equipment in China. Which of the following is an example of a defensive strategic goal that can be used to explain why American manufacturers of golfing equipment like Wilson and Titleist are eager to export their products to the Chinese?
To improve overall market position
To increase long-term growth and profit prospects
To avoid being locked out of markets by arriving too late
To take advantage of economies of scale
 

13. ExxonMobile opened its first On the Run store in Chile. The store combines the familiar pumping islands out front, convenience stores, and separate food courts. The success of that store led to the opening of more than 300 On the Run stores worldwide. Which of the following is an example of an offensive strategic goal that can explain why ExxonMobil developed On the Run stores?
To increase long-term growth and profit prospects
To take advantage of significant differences in operating costs between countries
To preempt competitors from opening similar stores
To avoid being locked out of markets by arriving too late
 

14. Which of the following is an example of an offensive strategic goal that might be used to explain why Eastman Kodak is eager to expand into new international markets?
To preempt its competitors’ global moves
To increase its long-term growth and profit prospects
To compete with foreign companies on their own turf instead of in the United States
To take advantage of significant differences in operating costs in other countries
 

15. When Procter & Gamble introduced Pampers disposable diapers in Japan, it used basically the same pricing strategy as it used in the United States. P&G did not realize the typical Japanese mother changes her baby about 14 times a day – twice as often as her U.S. counterpart. Thus, Pampers were too expensive for the Japanese market. What kind of a problem did P&G experience when it introduced Pampers?
Cultural misunderstanding
Communications divergence
Too heavy an emphasis on penetration pricing
Promotional dichotomy
 

16. Which of the following describes a problem a company can experience when entering a foreign market?
Cultural misunderstandings
Import restrictions
Political uncertainty
All of the above
 

17. Exchange controls are usually used by:
companies that are intermittent exporters.
industries that are selling commodities.
nations with a strong service sector.
nations that are experiencing balance-of-payment problems.
 

18. _____ companies pursue different strategies in each of their foreign markets. They could have as many different product variations, brand names, and advertising campaigns as countries in which they operate.
Multidomestic
Transnational
Global
Ethnocentric
 

19. Breath Right nasal strips are adhesive pads with a small spring inside that, when attached to the nose, pull the nasal passages open and make it easier to breathe. Their manufacturer, CNS, Inc., sells the nasal strips to countries on four different continents by using standardized marketing activities. CNS, Inc., is an example of a(n) _____ company.
multidomestic
transnational
global
ethnocentric
 

20. How does the multidomestic corporation differ from the global corporation?
The multidomestic companies rely on management teams made up of nationals; global corporations use management teams from the home office.
Multidomestic companies are highly centralized, while global corporations are highly decentralized.
Multidomestic companies use a standardized marketing strategy; globalized companies use an adaptive marketing strategy.
Multidomestic companies pursue different strategies in each of their foreign markets; globalized companies use the same strategy regardless of boundaries.  

1. Which of the following statements about the service sector of the American economy is true?
Over the next two decades the service sector in the U.S. will decline in monetary importance.
The service sector accounts for fewer than 30 percent of all jobs in the U.S.
Spending in the service sector today captures almost 20 cents of every consumer dollar.
The service sector in the U.S. produces a balance-of-trade surplus annually.
 

2. Which of the following is the BEST example of a service product?
Your motel stay
Permission from the hotel to pay for your stay with a credit card
The toll-free number you call to check on your motel reservation
The delivery of your luggage to the motel room
 

3. Which of the following is the BEST example of a service?
Surgery to correct nearsightedness
The complementary newspaper left outside your hotel room door
A transcontinental airplane trip
Repairs made to your lawn mower
 

4. During Jack and Leah’s first visit to the marriage counselor, Jack inspected all of the diplomas and certificates the counselor had prominently displayed on her wall. The most likely reason why the counselor displayed her diplomas and certificates was to:
comply with government regulation.
provide tangible evidence of her ability to perform the service required.
reduce the probability of fluctuating demand.
differentiate her counseling service from all other services.
 

5. The promotional element of the traditional marketing mix is more important for services than it is for goods because services are:
homogeneous.
inventoried.
intangible.
simultaneously demanded and supplied.
 

6. Services that are __________, and markets for these services, fluctuate by season, days, or time of day.
tangible
intangible
perishable
insufficient
 

7. Tangibles include ___________.
perishable goods
the physical evidence of the services
cyclical stability
demographic factors
 

8. Off-peak pricing:
is used to overcome problems associated with the homogeneity of services.
is a strategy used to deal with fluctuating demand for services.
creates time, place, and form utility.
is used to separate the service provider from the service.
 

9. If you were asked to distinguish between a service and a good, you could correctly say:
the customer is the end user for services, and the co-producer for goods.
collaboration between buyer and seller is highest for goods.
a greater number of brands of services are available than brands of goods.
the customer owns a good, but owns the memory of a service.

10. Which of the following statements about products and services is true?
Collaboration is higher between the buyer and seller of a product, than between the buyer and seller of a service.
The goal of producing a service is uniqueness; the goal of producing a product is uniformity.
Quality control activities for both services and products compare expectations to experience.
With both products and services, the consumer is the end user and not involved in the production process.
 

11. Which of the following is an example of a defensive strategic goal that might be used to explain why MTV developed MTV European, a pan-European cable and satellite system that transmits music-based programming across the continent?
To maximize its total sales revenues
To improve its overall market position
To increase its long-term growth and profit prospects
To preempt competitors’ global moves
 

12. There is a small, but growing, market for golfing equipment in China. Which of the following is an example of a defensive strategic goal that can be used to explain why American manufacturers of golfing equipment like Wilson and Titleist are eager to export their products to the Chinese?
To improve overall market position
To increase long-term growth and profit prospects
To avoid being locked out of markets by arriving too late
To take advantage of economies of scale
 

13. ExxonMobile opened its first On the Run store in Chile. The store combines the familiar pumping islands out front, convenience stores, and separate food courts. The success of that store led to the opening of more than 300 On the Run stores worldwide. Which of the following is an example of an offensive strategic goal that can explain why ExxonMobil developed On the Run stores?
To increase long-term growth and profit prospects
To take advantage of significant differences in operating costs between countries
To preempt competitors from opening similar stores
To avoid being locked out of markets by arriving too late
 

14. Which of the following is an example of an offensive strategic goal that might be used to explain why Eastman Kodak is eager to expand into new international markets?
To preempt its competitors’ global moves
To increase its long-term growth and profit prospects
To compete with foreign companies on their own turf instead of in the United States
To take advantage of significant differences in operating costs in other countries
 

15. When Procter & Gamble introduced Pampers disposable diapers in Japan, it used basically the same pricing strategy as it used in the United States. P&G did not realize the typical Japanese mother changes her baby about 14 times a day – twice as often as her U.S. counterpart. Thus, Pampers were too expensive for the Japanese market. What kind of a problem did P&G experience when it introduced Pampers?
Cultural misunderstanding
Communications divergence
Too heavy an emphasis on penetration pricing
Promotional dichotomy
 

16. Which of the following describes a problem a company can experience when entering a foreign market?
Cultural misunderstandings
Import restrictions
Political uncertainty
All of the above
 

17. Exchange controls are usually used by:
companies that are intermittent exporters.
industries that are selling commodities.
nations with a strong service sector.
nations that are experiencing balance-of-payment problems.
 

18. _____ companies pursue different strategies in each of their foreign markets. They could have as many different product variations, brand names, and advertising campaigns as countries in which they operate.
Multidomestic
Transnational
Global
Ethnocentric
 

19. Breath Right nasal strips are adhesive pads with a small spring inside that, when attached to the nose, pull the nasal passages open and make it easier to breathe. Their manufacturer, CNS, Inc., sells the nasal strips to countries on four different continents by using standardized marketing activities. CNS, Inc., is an example of a(n) _____ company.
multidomestic
transnational
global
ethnocentric
 

20. How does the multidomestic corporation differ from the global corporation?
The multidomestic companies rely on management teams made up of nationals; global corporations use management teams from the home office.
Multidomestic companies are highly centralized, while global corporations are highly decentralized.
Multidomestic companies use a standardized marketing strategy; globalized companies use an adaptive marketing strategy.
Multidomestic companies pursue different strategies in each of their foreign markets; globalized companies use the same strategy regardless of boundaries.  

1. Which of the following statements about the service sector of the American economy is true?
Over the next two decades the service sector in the U.S. will decline in monetary importance.
The service sector accounts for fewer than 30 percent of all jobs in the U.S.
Spending in the service sector today captures almost 20 cents of every consumer dollar.
The service sector in the U.S. produces a balance-of-trade surplus annually.
 

2. Which of the following is the BEST example of a service product?
Your motel stay
Permission from the hotel to pay for your stay with a credit card
The toll-free number you call to check on your motel reservation
The delivery of your luggage to the motel room
 

3. Which of the following is the BEST example of a service?
Surgery to correct nearsightedness
The complementary newspaper left outside your hotel room door
A transcontinental airplane trip
Repairs made to your lawn mower
 

4. During Jack and Leah’s first visit to the marriage counselor, Jack inspected all of the diplomas and certificates the counselor had prominently displayed on her wall. The most likely reason why the counselor displayed her diplomas and certificates was to:
comply with government regulation.
provide tangible evidence of her ability to perform the service required.
reduce the probability of fluctuating demand.
differentiate her counseling service from all other services.
 

5. The promotional element of the traditional marketing mix is more important for services than it is for goods because services are:
homogeneous.
inventoried.
intangible.
simultaneously demanded and supplied.
 

6. Services that are __________, and markets for these services, fluctuate by season, days, or time of day.
tangible
intangible
perishable
insufficient
 

7. Tangibles include ___________.
perishable goods
the physical evidence of the services
cyclical stability
demographic factors
 

8. Off-peak pricing:
is used to overcome problems associated with the homogeneity of services.
is a strategy used to deal with fluctuating demand for services.
creates time, place, and form utility.
is used to separate the service provider from the service.
 

9. If you were asked to distinguish between a service and a good, you could correctly say:
the customer is the end user for services, and the co-producer for goods.
collaboration between buyer and seller is highest for goods.
a greater number of brands of services are available than brands of goods.
the customer owns a good, but owns the memory of a service.

10. Which of the following statements about products and services is true?
Collaboration is higher between the buyer and seller of a product, than between the buyer and seller of a service.
The goal of producing a service is uniqueness; the goal of producing a product is uniformity.
Quality control activities for both services and products compare expectations to experience.
With both products and services, the consumer is the end user and not involved in the production process.
 

11. Which of the following is an example of a defensive strategic goal that might be used to explain why MTV developed MTV European, a pan-European cable and satellite system that transmits music-based programming across the continent?
To maximize its total sales revenues
To improve its overall market position
To increase its long-term growth and profit prospects
To preempt competitors’ global moves
 

12. There is a small, but growing, market for golfing equipment in China. Which of the following is an example of a defensive strategic goal that can be used to explain why American manufacturers of golfing equipment like Wilson and Titleist are eager to export their products to the Chinese?
To improve overall market position
To increase long-term growth and profit prospects
To avoid being locked out of markets by arriving too late
To take advantage of economies of scale
 

13. ExxonMobile opened its first On the Run store in Chile. The store combines the familiar pumping islands out front, convenience stores, and separate food courts. The success of that store led to the opening of more than 300 On the Run stores worldwide. Which of the following is an example of an offensive strategic goal that can explain why ExxonMobil developed On the Run stores?
To increase long-term growth and profit prospects
To take advantage of significant differences in operating costs between countries
To preempt competitors from opening similar stores
To avoid being locked out of markets by arriving too late
 

14. Which of the following is an example of an offensive strategic goal that might be used to explain why Eastman Kodak is eager to expand into new international markets?
To preempt its competitors’ global moves
To increase its long-term growth and profit prospects
To compete with foreign companies on their own turf instead of in the United States
To take advantage of significant differences in operating costs in other countries
 

15. When Procter & Gamble introduced Pampers disposable diapers in Japan, it used basically the same pricing strategy as it used in the United States. P&G did not realize the typical Japanese mother changes her baby about 14 times a day – twice as often as her U.S. counterpart. Thus, Pampers were too expensive for the Japanese market. What kind of a problem did P&G experience when it introduced Pampers?
Cultural misunderstanding
Communications divergence
Too heavy an emphasis on penetration pricing
Promotional dichotomy
 

16. Which of the following describes a problem a company can experience when entering a foreign market?
Cultural misunderstandings
Import restrictions
Political uncertainty
All of the above
 

17. Exchange controls are usually used by:
companies that are intermittent exporters.
industries that are selling commodities.
nations with a strong service sector.
nations that are experiencing balance-of-payment problems.
 

18. _____ companies pursue different strategies in each of their foreign markets. They could have as many different product variations, brand names, and advertising campaigns as countries in which they operate.
Multidomestic
Transnational
Global
Ethnocentric
 

19. Breath Right nasal strips are adhesive pads with a small spring inside that, when attached to the nose, pull the nasal passages open and make it easier to breathe. Their manufacturer, CNS, Inc., sells the nasal strips to countries on four different continents by using standardized marketing activities. CNS, Inc., is an example of a(n) _____ company.
multidomestic
transnational
global
ethnocentric
 

20. How does the multidomestic corporation differ from the global corporation?
The multidomestic companies rely on management teams made up of nationals; global corporations use management teams from the home office.
Multidomestic companies are highly centralized, while global corporations are highly decentralized.
Multidomestic companies use a standardized marketing strategy; globalized companies use an adaptive marketing strategy.
Multidomestic companies pursue different strategies in each of their foreign markets; globalized companies use the same strategy regardless of boundaries.  

1. Which of the following statements about the service sector of the American economy is true?
Over the next two decades the service sector in the U.S. will decline in monetary importance.
The service sector accounts for fewer than 30 percent of all jobs in the U.S.
Spending in the service sector today captures almost 20 cents of every consumer dollar.
The service sector in the U.S. produces a balance-of-trade surplus annually.
 

2. Which of the following is the BEST example of a service product?
Your motel stay
Permission from the hotel to pay for your stay with a credit card
The toll-free number you call to check on your motel reservation
The delivery of your luggage to the motel room
 

3. Which of the following is the BEST example of a service?
Surgery to correct nearsightedness
The complementary newspaper left outside your hotel room door
A transcontinental airplane trip
Repairs made to your lawn mower
 

4. During Jack and Leah’s first visit to the marriage counselor, Jack inspected all of the diplomas and certificates the counselor had prominently displayed on her wall. The most likely reason why the counselor displayed her diplomas and certificates was to:
comply with government regulation.
provide tangible evidence of her ability to perform the service required.
reduce the probability of fluctuating demand.
differentiate her counseling service from all other services.
 

5. The promotional element of the traditional marketing mix is more important for services than it is for goods because services are:
homogeneous.
inventoried.
intangible.
simultaneously demanded and supplied.
 

6. Services that are __________, and markets for these services, fluctuate by season, days, or time of day.
tangible
intangible
perishable
insufficient
 

7. Tangibles include ___________.
perishable goods
the physical evidence of the services
cyclical stability
demographic factors
 

8. Off-peak pricing:
is used to overcome problems associated with the homogeneity of services.
is a strategy used to deal with fluctuating demand for services.
creates time, place, and form utility.
is used to separate the service provider from the service.
 

9. If you were asked to distinguish between a service and a good, you could correctly say:
the customer is the end user for services, and the co-producer for goods.
collaboration between buyer and seller is highest for goods.
a greater number of brands of services are available than brands of goods.
the customer owns a good, but owns the memory of a service.

10. Which of the following statements about products and services is true?
Collaboration is higher between the buyer and seller of a product, than between the buyer and seller of a service.
The goal of producing a service is uniqueness; the goal of producing a product is uniformity.
Quality control activities for both services and products compare expectations to experience.
With both products and services, the consumer is the end user and not involved in the production process.
 

11. Which of the following is an example of a defensive strategic goal that might be used to explain why MTV developed MTV European, a pan-European cable and satellite system that transmits music-based programming across the continent?
To maximize its total sales revenues
To improve its overall market position
To increase its long-term growth and profit prospects
To preempt competitors’ global moves
 

12. There is a small, but growing, market for golfing equipment in China. Which of the following is an example of a defensive strategic goal that can be used to explain why American manufacturers of golfing equipment like Wilson and Titleist are eager to export their products to the Chinese?
To improve overall market position
To increase long-term growth and profit prospects
To avoid being locked out of markets by arriving too late
To take advantage of economies of scale
 

13. ExxonMobile opened its first On the Run store in Chile. The store combines the familiar pumping islands out front, convenience stores, and separate food courts. The success of that store led to the opening of more than 300 On the Run stores worldwide. Which of the following is an example of an offensive strategic goal that can explain why ExxonMobil developed On the Run stores?
To increase long-term growth and profit prospects
To take advantage of significant differences in operating costs between countries
To preempt competitors from opening similar stores
To avoid being locked out of markets by arriving too late
 

14. Which of the following is an example of an offensive strategic goal that might be used to explain why Eastman Kodak is eager to expand into new international markets?
To preempt its competitors’ global moves
To increase its long-term growth and profit prospects
To compete with foreign companies on their own turf instead of in the United States
To take advantage of significant differences in operating costs in other countries
 

15. When Procter & Gamble introduced Pampers disposable diapers in Japan, it used basically the same pricing strategy as it used in the United States. P&G did not realize the typical Japanese mother changes her baby about 14 times a day – twice as often as her U.S. counterpart. Thus, Pampers were too expensive for the Japanese market. What kind of a problem did P&G experience when it introduced Pampers?
Cultural misunderstanding
Communications divergence
Too heavy an emphasis on penetration pricing
Promotional dichotomy
 

16. Which of the following describes a problem a company can experience when entering a foreign market?
Cultural misunderstandings
Import restrictions
Political uncertainty
All of the above
 

17. Exchange controls are usually used by:
companies that are intermittent exporters.
industries that are selling commodities.
nations with a strong service sector.
nations that are experiencing balance-of-payment problems.
 

18. _____ companies pursue different strategies in each of their foreign markets. They could have as many different product variations, brand names, and advertising campaigns as countries in which they operate.
Multidomestic
Transnational
Global
Ethnocentric
 

19. Breath Right nasal strips are adhesive pads with a small spring inside that, when attached to the nose, pull the nasal passages open and make it easier to breathe. Their manufacturer, CNS, Inc., sells the nasal strips to countries on four different continents by using standardized marketing activities. CNS, Inc., is an example of a(n) _____ company.
multidomestic
transnational
global
ethnocentric
 

20. How does the multidomestic corporation differ from the global corporation?
The multidomestic companies rely on management teams made up of nationals; global corporations use management teams from the home office.
Multidomestic companies are highly centralized, while global corporations are highly decentralized.
Multidomestic companies use a standardized marketing strategy; globalized companies use an adaptive marketing strategy.
Multidomestic companies pursue different strategies in each of their foreign markets; globalized companies use the same strategy regardless of boundaries.  

1. Which of the following statements about the service sector of the American economy is true?
Over the next two decades the service sector in the U.S. will decline in monetary importance.
The service sector accounts for fewer than 30 percent of all jobs in the U.S.
Spending in the service sector today captures almost 20 cents of every consumer dollar.
The service sector in the U.S. produces a balance-of-trade surplus annually.
 

2. Which of the following is the BEST example of a service product?
Your motel stay
Permission from the hotel to pay for your stay with a credit card
The toll-free number you call to check on your motel reservation
The delivery of your luggage to the motel room
 

3. Which of the following is the BEST example of a service?
Surgery to correct nearsightedness
The complementary newspaper left outside your hotel room door
A transcontinental airplane trip
Repairs made to your lawn mower
 

4. During Jack and Leah’s first visit to the marriage counselor, Jack inspected all of the diplomas and certificates the counselor had prominently displayed on her wall. The most likely reason why the counselor displayed her diplomas and certificates was to:
comply with government regulation.
provide tangible evidence of her ability to perform the service required.
reduce the probability of fluctuating demand.
differentiate her counseling service from all other services.
 

5. The promotional element of the traditional marketing mix is more important for services than it is for goods because services are:
homogeneous.
inventoried.
intangible.
simultaneously demanded and supplied.
 

6. Services that are __________, and markets for these services, fluctuate by season, days, or time of day.
tangible
intangible
perishable
insufficient
 

7. Tangibles include ___________.
perishable goods
the physical evidence of the services
cyclical stability
demographic factors
 

8. Off-peak pricing:
is used to overcome problems associated with the homogeneity of services.
is a strategy used to deal with fluctuating demand for services.
creates time, place, and form utility.
is used to separate the service provider from the service.
 

9. If you were asked to distinguish between a service and a good, you could correctly say:
the customer is the end user for services, and the co-producer for goods.
collaboration between buyer and seller is highest for goods.
a greater number of brands of services are available than brands of goods.
the customer owns a good, but owns the memory of a service.

10. Which of the following statements about products and services is true?
Collaboration is higher between the buyer and seller of a product, than between the buyer and seller of a service.
The goal of producing a service is uniqueness; the goal of producing a product is uniformity.
Quality control activities for both services and products compare expectations to experience.
With both products and services, the consumer is the end user and not involved in the production process.
 

11. Which of the following is an example of a defensive strategic goal that might be used to explain why MTV developed MTV European, a pan-European cable and satellite system that transmits music-based programming across the continent?
To maximize its total sales revenues
To improve its overall market position
To increase its long-term growth and profit prospects
To preempt competitors’ global moves
 

12. There is a small, but growing, market for golfing equipment in China. Which of the following is an example of a defensive strategic goal that can be used to explain why American manufacturers of golfing equipment like Wilson and Titleist are eager to export their products to the Chinese?
To improve overall market position
To increase long-term growth and profit prospects
To avoid being locked out of markets by arriving too late
To take advantage of economies of scale
 

13. ExxonMobile opened its first On the Run store in Chile. The store combines the familiar pumping islands out front, convenience stores, and separate food courts. The success of that store led to the opening of more than 300 On the Run stores worldwide. Which of the following is an example of an offensive strategic goal that can explain why ExxonMobil developed On the Run stores?
To increase long-term growth and profit prospects
To take advantage of significant differences in operating costs between countries
To preempt competitors from opening similar stores
To avoid being locked out of markets by arriving too late
 

14. Which of the following is an example of an offensive strategic goal that might be used to explain why Eastman Kodak is eager to expand into new international markets?
To preempt its competitors’ global moves
To increase its long-term growth and profit prospects
To compete with foreign companies on their own turf instead of in the United States
To take advantage of significant differences in operating costs in other countries
 

15. When Procter & Gamble introduced Pampers disposable diapers in Japan, it used basically the same pricing strategy as it used in the United States. P&G did not realize the typical Japanese mother changes her baby about 14 times a day – twice as often as her U.S. counterpart. Thus, Pampers were too expensive for the Japanese market. What kind of a problem did P&G experience when it introduced Pampers?
Cultural misunderstanding
Communications divergence
Too heavy an emphasis on penetration pricing
Promotional dichotomy
 

16. Which of the following describes a problem a company can experience when entering a foreign market?
Cultural misunderstandings
Import restrictions
Political uncertainty
All of the above
 

17. Exchange controls are usually used by:
companies that are intermittent exporters.
industries that are selling commodities.
nations with a strong service sector.
nations that are experiencing balance-of-payment problems.
 

18. _____ companies pursue different strategies in each of their foreign markets. They could have as many different product variations, brand names, and advertising campaigns as countries in which they operate.
Multidomestic
Transnational
Global
Ethnocentric
 

19. Breath Right nasal strips are adhesive pads with a small spring inside that, when attached to the nose, pull the nasal passages open and make it easier to breathe. Their manufacturer, CNS, Inc., sells the nasal strips to countries on four different continents by using standardized marketing activities. CNS, Inc., is an example of a(n) _____ company.
multidomestic
transnational
global
ethnocentric
 

20. How does the multidomestic corporation differ from the global corporation?
The multidomestic companies rely on management teams made up of nationals; global corporations use management teams from the home office.
Multidomestic companies are highly centralized, while global corporations are highly decentralized.
Multidomestic companies use a standardized marketing strategy; globalized companies use an adaptive marketing strategy.
Multidomestic companies pursue different strategies in each of their foreign markets; globalized companies use the same strategy regardless of boundaries.  

1. Which of the following statements about the service sector of the American economy is true?
Over the next two decades the service sector in the U.S. will decline in monetary importance.
The service sector accounts for fewer than 30 percent of all jobs in the U.S.
Spending in the service sector today captures almost 20 cents of every consumer dollar.
The service sector in the U.S. produces a balance-of-trade surplus annually.
 

2. Which of the following is the BEST example of a service product?
Your motel stay
Permission from the hotel to pay for your stay with a credit card
The toll-free number you call to check on your motel reservation
The delivery of your luggage to the motel room
 

3. Which of the following is the BEST example of a service?
Surgery to correct nearsightedness
The complementary newspaper left outside your hotel room door
A transcontinental airplane trip
Repairs made to your lawn mower
 

4. During Jack and Leah’s first visit to the marriage counselor, Jack inspected all of the diplomas and certificates the counselor had prominently displayed on her wall. The most likely reason why the counselor displayed her diplomas and certificates was to:
comply with government regulation.
provide tangible evidence of her ability to perform the service required.
reduce the probability of fluctuating demand.
differentiate her counseling service from all other services.
 

5. The promotional element of the traditional marketing mix is more important for services than it is for goods because services are:
homogeneous.
inventoried.
intangible.
simultaneously demanded and supplied.
 

6. Services that are __________, and markets for these services, fluctuate by season, days, or time of day.
tangible
intangible
perishable
insufficient
 

7. Tangibles include ___________.
perishable goods
the physical evidence of the services
cyclical stability
demographic factors
 

8. Off-peak pricing:
is used to overcome problems associated with the homogeneity of services.
is a strategy used to deal with fluctuating demand for services.
creates time, place, and form utility.
is used to separate the service provider from the service.
 

9. If you were asked to distinguish between a service and a good, you could correctly say:
the customer is the end user for services, and the co-producer for goods.
collaboration between buyer and seller is highest for goods.
a greater number of brands of services are available than brands of goods.
the customer owns a good, but owns the memory of a service.

10. Which of the following statements about products and services is true?
Collaboration is higher between the buyer and seller of a product, than between the buyer and seller of a service.
The goal of producing a service is uniqueness; the goal of producing a product is uniformity.
Quality control activities for both services and products compare expectations to experience.
With both products and services, the consumer is the end user and not involved in the production process.
 

11. Which of the following is an example of a defensive strategic goal that might be used to explain why MTV developed MTV European, a pan-European cable and satellite system that transmits music-based programming across the continent?
To maximize its total sales revenues
To improve its overall market position
To increase its long-term growth and profit prospects
To preempt competitors’ global moves
 

12. There is a small, but growing, market for golfing equipment in China. Which of the following is an example of a defensive strategic goal that can be used to explain why American manufacturers of golfing equipment like Wilson and Titleist are eager to export their products to the Chinese?
To improve overall market position
To increase long-term growth and profit prospects
To avoid being locked out of markets by arriving too late
To take advantage of economies of scale
 

13. ExxonMobile opened its first On the Run store in Chile. The store combines the familiar pumping islands out front, convenience stores, and separate food courts. The success of that store led to the opening of more than 300 On the Run stores worldwide. Which of the following is an example of an offensive strategic goal that can explain why ExxonMobil developed On the Run stores?
To increase long-term growth and profit prospects
To take advantage of significant differences in operating costs between countries
To preempt competitors from opening similar stores
To avoid being locked out of markets by arriving too late
 

14. Which of the following is an example of an offensive strategic goal that might be used to explain why Eastman Kodak is eager to expand into new international markets?
To preempt its competitors’ global moves
To increase its long-term growth and profit prospects
To compete with foreign companies on their own turf instead of in the United States
To take advantage of significant differences in operating costs in other countries
 

15. When Procter & Gamble introduced Pampers disposable diapers in Japan, it used basically the same pricing strategy as it used in the United States. P&G did not realize the typical Japanese mother changes her baby about 14 times a day – twice as often as her U.S. counterpart. Thus, Pampers were too expensive for the Japanese market. What kind of a problem did P&G experience when it introduced Pampers?
Cultural misunderstanding
Communications divergence
Too heavy an emphasis on penetration pricing
Promotional dichotomy
 

16. Which of the following describes a problem a company can experience when entering a foreign market?
Cultural misunderstandings
Import restrictions
Political uncertainty
All of the above
 

17. Exchange controls are usually used by:
companies that are intermittent exporters.
industries that are selling commodities.
nations with a strong service sector.
nations that are experiencing balance-of-payment problems.
 

18. _____ companies pursue different strategies in each of their foreign markets. They could have as many different product variations, brand names, and advertising campaigns as countries in which they operate.
Multidomestic
Transnational
Global
Ethnocentric
 

19. Breath Right nasal strips are adhesive pads with a small spring inside that, when attached to the nose, pull the nasal passages open and make it easier to breathe. Their manufacturer, CNS, Inc., sells the nasal strips to countries on four different continents by using standardized marketing activities. CNS, Inc., is an example of a(n) _____ company.
multidomestic
transnational
global
ethnocentric
 

20. How does the multidomestic corporation differ from the global corporation?
The multidomestic companies rely on management teams made up of nationals; global corporations use management teams from the home office.
Multidomestic companies are highly centralized, while global corporations are highly decentralized.
Multidomestic companies use a standardized marketing strategy; globalized companies use an adaptive marketing strategy.
Multidomestic companies pursue different strategies in each of their foreign markets; globalized companies use the same strategy regardless of boundaries.  

1. Which of the following statements about the service sector of the American economy is true?
Over the next two decades the service sector in the U.S. will decline in monetary importance.
The service sector accounts for fewer than 30 percent of all jobs in the U.S.
Spending in the service sector today captures almost 20 cents of every consumer dollar.
The service sector in the U.S. produces a balance-of-trade surplus annually.
 

2. Which of the following is the BEST example of a service product?
Your motel stay
Permission from the hotel to pay for your stay with a credit card
The toll-free number you call to check on your motel reservation
The delivery of your luggage to the motel room
 

3. Which of the following is the BEST example of a service?
Surgery to correct nearsightedness
The complementary newspaper left outside your hotel room door
A transcontinental airplane trip
Repairs made to your lawn mower
 

4. During Jack and Leah’s first visit to the marriage counselor, Jack inspected all of the diplomas and certificates the counselor had prominently displayed on her wall. The most likely reason why the counselor displayed her diplomas and certificates was to:
comply with government regulation.
provide tangible evidence of her ability to perform the service required.
reduce the probability of fluctuating demand.
differentiate her counseling service from all other services.
 

5. The promotional element of the traditional marketing mix is more important for services than it is for goods because services are:
homogeneous.
inventoried.
intangible.
simultaneously demanded and supplied.
 

6. Services that are __________, and markets for these services, fluctuate by season, days, or time of day.
tangible
intangible
perishable
insufficient
 

7. Tangibles include ___________.
perishable goods
the physical evidence of the services
cyclical stability
demographic factors
 

8. Off-peak pricing:
is used to overcome problems associated with the homogeneity of services.
is a strategy used to deal with fluctuating demand for services.
creates time, place, and form utility.
is used to separate the service provider from the service.
 

9. If you were asked to distinguish between a service and a good, you could correctly say:
the customer is the end user for services, and the co-producer for goods.
collaboration between buyer and seller is highest for goods.
a greater number of brands of services are available than brands of goods.
the customer owns a good, but owns the memory of a service.

10. Which of the following statements about products and services is true?
Collaboration is higher between the buyer and seller of a product, than between the buyer and seller of a service.
The goal of producing a service is uniqueness; the goal of producing a product is uniformity.
Quality control activities for both services and products compare expectations to experience.
With both products and services, the consumer is the end user and not involved in the production process.
 

11. Which of the following is an example of a defensive strategic goal that might be used to explain why MTV developed MTV European, a pan-European cable and satellite system that transmits music-based programming across the continent?
To maximize its total sales revenues
To improve its overall market position
To increase its long-term growth and profit prospects
To preempt competitors’ global moves
 

12. There is a small, but growing, market for golfing equipment in China. Which of the following is an example of a defensive strategic goal that can be used to explain why American manufacturers of golfing equipment like Wilson and Titleist are eager to export their products to the Chinese?
To improve overall market position
To increase long-term growth and profit prospects
To avoid being locked out of markets by arriving too late
To take advantage of economies of scale
 

13. ExxonMobile opened its first On the Run store in Chile. The store combines the familiar pumping islands out front, convenience stores, and separate food courts. The success of that store led to the opening of more than 300 On the Run stores worldwide. Which of the following is an example of an offensive strategic goal that can explain why ExxonMobil developed On the Run stores?
To increase long-term growth and profit prospects
To take advantage of significant differences in operating costs between countries
To preempt competitors from opening similar stores
To avoid being locked out of markets by arriving too late
 

14. Which of the following is an example of an offensive strategic goal that might be used to explain why Eastman Kodak is eager to expand into new international markets?
To preempt its competitors’ global moves
To increase its long-term growth and profit prospects
To compete with foreign companies on their own turf instead of in the United States
To take advantage of significant differences in operating costs in other countries
 

15. When Procter & Gamble introduced Pampers disposable diapers in Japan, it used basically the same pricing strategy as it used in the United States. P&G did not realize the typical Japanese mother changes her baby about 14 times a day – twice as often as her U.S. counterpart. Thus, Pampers were too expensive for the Japanese market. What kind of a problem did P&G experience when it introduced Pampers?
Cultural misunderstanding
Communications divergence
Too heavy an emphasis on penetration pricing
Promotional dichotomy
 

16. Which of the following describes a problem a company can experience when entering a foreign market?
Cultural misunderstandings
Import restrictions
Political uncertainty
All of the above
 

17. Exchange controls are usually used by:
companies that are intermittent exporters.
industries that are selling commodities.
nations with a strong service sector.
nations that are experiencing balance-of-payment problems.
 

18. _____ companies pursue different strategies in each of their foreign markets. They could have as many different product variations, brand names, and advertising campaigns as countries in which they operate.
Multidomestic
Transnational
Global
Ethnocentric
 

19. Breath Right nasal strips are adhesive pads with a small spring inside that, when attached to the nose, pull the nasal passages open and make it easier to breathe. Their manufacturer, CNS, Inc., sells the nasal strips to countries on four different continents by using standardized marketing activities. CNS, Inc., is an example of a(n) _____ company.
multidomestic
transnational
global
ethnocentric
 

20. How does the multidomestic corporation differ from the global corporation?
The multidomestic companies rely on management teams made up of nationals; global corporations use management teams from the home office.
Multidomestic companies are highly centralized, while global corporations are highly decentralized.
Multidomestic companies use a standardized marketing strategy; globalized companies use an adaptive marketing strategy.
Multidomestic companies pursue different strategies in each of their foreign markets; globalized companies use the same strategy regardless of boundaries.

  

1. A company increased the selling price for its product from $5 to $6 per unit when total fixed expenses increased from $100,000 to $200,000 and variable expense per unit remained unchanged. How would these changes affect the break-even point?
A. The break-even point in units would decrease.
B. The break-even point in units would increase.
C. The break-even point in units would remain unchanged.
D. The effect can’t be determined from the information given.

 2. An increase in the activity level within the relevant range results in a/an
A. decrease in fixed cost per unit.
B. increase in fixed cost per unit.
C. proportionate increase in total fixed costs.
D. unchanged fixed cost per unit.

 3. Use the following information to answer this question.
Lifsey Wedding Fantasy Company makes very elaborate wedding cakes to order. The owner of thecompany has provided the following data concerning the activity rates in its activity-based costing system:
l The measure of activity for the size-related activity cost pool is the number of planned guests at thewedding reception. The greater the number of guests, the larger the cake.
l The measure of complexity is the number of tiers in the cake.
l The activity measure for the order-related cost pool is the number of orders. (Each wedding involvesone order.)
l The activity rates include the costs of raw ingredients, such as flour, sugar, eggs, and shortening. Theactivity rates don’t include the costs of purchased decorations, such as miniature statues and weddingbells, which are accounted for separately.
Data concerning two recent orders are listed here:
Activity Cost Pools Activity Rate
Size-related $0.94 per guest
Complexity-related $31.62 per tier
Order-related $55.70 per order
Assuming that the company charges $556.96 for the Smith wedding cake, what would be the overallmargin on the order?
Pyburn
Wedding
Smith
Wedding
Number of reception guests 72 189
Number of tiers on the cake 4 5
Cost of purchased decorations for cake $29.92 $68.75
A. $165.41
B. $96.66
C. $460.30
D. $152.45

 

4. At a break-even point of 400 units sold, variable expenses were $4,000, and fixed expenses were$2,000. What will the 401st unit sold contribute to profit?
A. $0
B. $15
C. $5
D. $10

 5. A disadvantage of the high-low method of cost analysis is that
A. it relies totally on the judgment of the person performing the cost analysis.
B. it can’t be used when there are a very large number of observations.
C. it uses two extreme data points, which may not be representative of normal conditions.
D. it’s too time-consuming to apply.

 6. Use the following information to answer this question.
Harris Company produces a single product. Last year, Harris manufactured 17,000 units and sold 13,000units. Production costs for the year were as follows:
Sales were $780,000 for the year, variable selling and administrative expenses were $88,400, and fixedselling and administrative expenses were $170,000. There was no beginning inventory. Assume that directlabor is a variable cost.
Under absorption costing, the carrying value on the balance sheet of the ending inventory for the yearwould be
Production Cost Data
Direct materials $153,000
Direct labor $110,500
Variable manufacturing overhead $204,000
Fixed manufacturing overhead $255,000
A. $0.
B. $170,000.
C. $230,800.
D. $190,800.
7. Indiana Corporation produces a single product that it sells for $9 per unit. During the first year ofoperations, 100,000 units were produced, and 90,000 units were sold. Manufacturing costs and selling andadministrative expenses for the year were as follows:
What was Indiana Corporation’s net operating income for the year using variable costing?
Fixed Costs Variable Costs
Raw materials
$1.75 per unit
produced
Direct labor
$1.25 per unit
produced
Factory
overhead
$100,000
$0.50 per unit
produced
Selling and
administrative
$70,000
$0.60 per unitsold

 A. $371,000
B. $181,000
C. $271,000
D. $281,000

 8. Purchase-order processing is an example of a/an _______ activity.
A. unit-level
B. product-level
C. batch-level
D. organization-sustaining

 

9. Viren Corporation has provided the following data from its activity-based costing system:The company makes 240 units of product T91H a year, requiring a total of 550 machine hours, 90 orders,and 40 inspection hours per year. The product’s direct materials cost is $16.98 per unit, and its direct laborcost is $12.09 per unit. According to the activity-based costing system, the average cost of product T91H isclosest to _______ per unit.
Activity Cost Pool Total Cost Total Activity
Assembly $387,000 25,000 machine-hours
Processing orders $68,510 1,700 orders
Inspection $129,117 1,930 inspection-hours
A. $79.66
B. $29.07
C. $90.81
D. $75.70

 

10. Use the following information to answer this question.
Callaham Corporation is a wholesaler that sells a single product. Management has provided the following
cost data for two levels of monthly sales volume. The company sells the product for $115.80 per unit.
The best estimate of the total contribution margin when 4,300 units are sold is
Sales volume (units)
4,000 5,000
Cost of sales $338,000 $422,500
Selling and administrative costs $89,600 $106,000
A. $38,270.
B. $64,070.
C. $43,430.
D. $134,590.

 

11. Use the following information to answer this question.
Lifsey Wedding Fantasy Company makes very elaborate wedding cakes to order. The owner of the
company has provided the following data concerning the activity rates in its activity-based costing system:
l The measure of activity for the size-related activity cost pool is the number of planned guests at the
wedding reception. The greater the number of guests, the larger the cake.
l The measure of complexity is the number of tiers in the cake.
l The activity measure for the order-related cost pool is the number of orders. (Each wedding involves
one order.)
l The activity rates include the costs of raw ingredients, such as flour, sugar, eggs, and shortening. The
activity rates don’t include the costs of purchased decorations, such as miniature statues and wedding
bells, which are accounted for separately.
Data concerning two recent orders are listed here:
Activity Cost Pools Activity Rate
Size-related $0.94 per guest
Complexity-related $31.62 per tier
Order-related $55.70 per order
Pyburn
Wedding
Smith
Wedding
Number of reception guests 72 189
Suppose the company decides that the present activity-based costing system is too complex and that all
costs (except for the costs of purchased decorations) should be allocated on the basis of the number ofguests. In that event, what would you expect to happen to the costs of cakes?
Number of tiers on the cake 4 5
Cost of purchased decorations for cake $29.92 $68.75
A. The costs of all cakes would go down.
B. The cost of cakes for receptions with more than the average number of guests would go down.
C. The costs of all cakes would go up.
D. The cost of cakes for receptions with fewer than the average number of guests would go down.

 12. Use the following information to answer this question.
Gargymal Company would like to estimate the variable and fixed components of its electrical costs and hascompiled the following data for the past five months of operations.
Using the high-low method of analysis, the estimated fixed cost per month for electricity is closest to whichof the following?
Machine
Hours
Electrical
Cost
August 1,000 $1,620
September 900 $1,510
October 1,500 $1,870
November 2,000 $1,950
December 1,300 $1,730
A. $870.00
B. $1,150.00
C. $1,290.00
D. $1,306.50

 13. Murdoch Corporation has provided the following data concerning its only product:
What is the margin of safety in dollars?
Murdoch Product Data
Selling price $230 per unit
Current sales 39,100 units
Break-even sales 29,716 units
A. $5,995,333
B. $6,834,680
C. $2,158,320
D. $8,993,000

 

14. Use the following information to answer this question.
Harris Company produces a single product. Last year, Harris manufactured 17,000 units and sold 13,000units. Production costs for the year were as follows:
Sales were $780,000 for the year, variable selling and administrative expenses were $88,400, and fixedselling and administrative expenses were $170,000. There was no beginning inventory. Assume that directlabor is a variable cost.
The contribution margin per unit was
Production Cost Data
Direct materials $153,000
Direct labor $110,500
Variable manufacturing overhead $204,000
Fixed manufacturing overhead $255,000
A. $32.50.
B. $25.70.
C. $17.50.
D. $27.30.

 15. Use the following information to answer this question.
Harris Company produces a single product. Last year, Harris manufactured 17,000 units and sold 13,000units. Production costs for the year were as follows:
Sales were $780,000 for the year, variable selling and administrative expenses were $88,400, and fixedselling and administrative expenses were $170,000. There was no beginning inventory. Assume that directlabor is a variable cost.
Under variable costing, the company’s net operating income for the year would be _______ than underabsorption costing.
Production Cost Data
Direct materials $153,000
Direct labor $110,500
Variable manufacturing overhead $204,000
Fixed manufacturing overhead $255,000
A. $60,000 lower
B. $60,000 higher
C. $108,000 higher
D. $108,000 lower

 16. Bear Publishing sells a nature guide. The following information was reported for a typical month (salesvolume is constant each month):
Bear is expecting a 20-cent increase in variable expenses. No other changes are expected or planned. Howmuch contribution margin should Bear expect after the increase?
Total Per Unit
Sales $17,600 $16.00
Variable expenses $9,680 $8.80
Contribution margin $7,920 $7.20
Fixed expenses $3,600
Net operating income $4,320
A. $7,700
B. $4,100
C. $9,900
D. Can’t be determined

 17. Use the following information to answer this question.
Gargymal Company would like to estimate the variable and fixed components of its electrical costs and has
compiled the following data for the past five months of operations.
Using the high-low method of analysis, the estimated variable cost per machine hour for electricity isclosest to which of the following?
Machine
Hours
Electrical
Cost
August 1,000 $1,620
September 900 $1,510
October 1,500 $1,870
November 2,000 $1,950
December 1,300 $1,730
A. $0.40
B. $0.98
C. $1.68
D. $2.50

 

18. Use the following information to answer this question.
Callaham Corporation is a wholesaler that sells a single product. Management has provided the followingcost data for two levels of monthly sales volume. The company sells the product for $115.80 per unit.
The best estimate of the total variable cost per unit is
Sales volume (units)
4,000 5,000
Cost of sales $338,000 $422,500
Selling and administrative costs $89,600 $106,000
A. $84.50.
B. $106.90.
C. $100.90.
D. $105.70.

 

19. Which of the following is true regarding the contribution margin ratio of a single-product company?
A. As fixed expenses decrease, the contribution margin ratio increases.
B. The contribution margin ratio multiplied by the variable expense per unit equals the contribution margin per unit.
C. The contribution margin ratio increases as the number of units sold increases.
D. If sales increase, the dollar increase in net operating income can be computed by multiplying the contribution margin ratio bythe dollar increase in sales.

 20. Use the following information to answer this question.
Lifsey Wedding Fantasy Company makes very elaborate wedding cakes to order. The owner of thecompany has provided the following data concerning the activity rates in its activity-based costing system:
l The measure of activity for the size-related activity cost pool is the number of planned guests at thewedding reception. The greater the number of guests, the larger the cake.
l The measure of complexity is the number of tiers in the cake.

l The activity measure for the order-related cost pool is the number of orders. (Each wedding involvesone order.)
l The activity rates include the costs of raw ingredients, such as flour, sugar, eggs, and shortening. Theactivity rates don’t include the costs of purchased decorations, such as miniature statues and weddingbells, which are accounted for separately.
Data concerning two recent orders are listed here:
Activity Cost Pools Activity Rate
Size-related $0.94 per guest
Complexity-related $31.62 per tier
Order-related $55.70 per order
Pyburn
Wedding
Smith
Wedding
Number of reception guests 72 189
Number of tiers on the cake 4 5
End of exam
Assuming that all of the costs listed above are avoidable costs in the event that an order is turned down,which amount would the company have to charge for the Pyburn wedding cake to just break even?
Cost of purchased decorations for cake $29.92 $68.75
A. $279.87
B. $55.79
C. $338.64
D. $29.92 

  

What are at least two hot topics in marketing research today? Support your position in a minimum of 200 words.

Two hot topics in marketing research are: 

1)Online Marketing research and

2)Globalization

  

MARKETING CONFERENCE As the AI Brainstorming Conference moves into its second week, it is time to begin developing a Marketing Strategy. The first three components you will discuss are your Mission Statement, Objectives and Product/Services features. 

1. Provide a quick overview of the product or service you created on the Unit 1 DB (2-3 sentences only). NOTE: The overview will be used for each discussion and Project 

2. State the features of your product. Show how it’s innovative and different. Discuss legal and ethical implications that could affect the marketing process. 

3. Create a Mission Statement.

4. State your short-term MARKETING objectives (one year). Assume that the product/service is ready to launch at the beginning of the year (planning and testing have been completed). o Marketing objectives include goals for sales, profits, market share (as examples) o Objectives need to be quantifiable. Use the SMART acronymsimple, measurable, achievable, relevant, and time-specificin formulating your objectives. An objective with a 100% goal is not acceptable.