Traditionally companies have defined their business in product terms or in technological terms however mission statements should be all of the following EXCEPT ?

Related Mcqs:

1. A company is in the ________ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product ?

   A. product development
   B. commercialization
   C. marketing strategy
   D. business analysis

2. Which business device involves the creation of a new business by two or more companies often for a limited period of time ?

   A. multinational corporation
   B. international joint venture
   C. horizontal merger
   D. vertical merger

3. With whom would you associate the following quote” The business of business is business” ?

   A. Milton Friedman
   B. Adam smith
   C. Alfred Marshal
   D. Karl Marx

4. Technological advances, shifts in consumer tastes, and increased competition all of which reduce demand for a product are typical of which stage in the PLC ?

   A. decline stage
   B. introduction stage
   C. growth stage
   D. maturity stage

5. Which of the following is foreign owned (even through it is traditionally thought of as a U.S company) ?

   A. IBM
   B. Xerox
   C. Kodak
   D. Universal Studios

6. If the total product of two workers is 80 and the total product of 3 workers is 90 then the average product of the third worker is ________ and the marginal product of the third worker is _________?

   A. 160; 270
   B. 10; 30
   C. 10; 3.33
   D. 30; 10

7. Even through buying roles in the family change constantly the _________ has traditionally been the main purchasing agent for the family?

   A. wife
   B. husband
   C. teenage children
   D. grandparent

8. R&D and engineering first produce the product concept into a physical product during which of the following stages of the new product development process ?

   A. Concept development and testing
   B. Marketing strategy
   C. Business analysis
   D. Product development

9. The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?

   A. flying geese
   B. import substitution
   C. export orientation
   D. commodity expansion

10. Which of the following describes an increase in technological knowledge ?

    A. A farmer sends his child to agricultural college and the child returns to work on the farm
    B. A farmer hires another day laborer
    C. A farmer buys another tractor
    D. A farmer discovers that it is better to plant in the spring rather than in the fall