Business Development

Q: According to insider trading rules of the SEC, securities analysts and financial writers may not trade on insider information, but these rules do not extend to relatives and friends.

Q: Based on dollar volume of stocks and bonds, the NASDAQ is the second largest of all markets in the United States.

Q: NASDAQ is directly related to the operations of the NYSE.

Q: Specialists are now able to keep their limit orders in the Electronic Book rather than the old manual "specialist's book."

Q: A specialist is supposed to maintain an orderly market.

Q: Floor brokers act as agents for clients and execute buy and sell orders on the floor of the NYSE exchange.

Q: A security traded on an exchange must meet listing requirements.

Q: Only the Chicago regional exchange is still viable, with Philadelphia and Boston being bought by NASDAQ.

Q: Under the Securities Act of 1933, the SEC can certify that a stock is fairly priced.

Q: The U.S. treasury often uses investment bankers to sell new issues of government securities.

Q: Secondary markets include only organized exchanges such as the NYSE and the regional exchanges.

Q: Specialists buy and sell for their own account.

Q: As a part of Super Dot, specialists are informed through Opening Automated Report Service (OARS) of market orders received before the opening bell.

Q: Super Dot refers to the New York Stock Exchange's designated order transfer system, which allows NYSE member firms to electronically transmit all market and limit orders directly to the specialist at the trading post.

Q: The major functions of an investment banker are performed as part of the operations of the secondary market.

Q: When investment bankers underwrite a security, they usually guarantee purchase of the securities at a fixed price for the selling firm.

Q: The investment banker assumes a price risk under a best efforts agreement.

Q: Secondary markets are for existing securities.

Q: Primary markets are for new issues of securities.

Q: Efficient markets need not be liquid, as long as buyers and sellers can eventually get a fair price for the assets they trade.

Q: One characteristic of efficient markets is that prices adjust rapidly to new information.

Q: All markets must have a physical central trading location.

Q: A market is a way of exchanging assets.

Q: The NASDAQ stock market is a publicly traded corporation.

Q: The rise of financial-service firms through mergers and the consolidation of brokerage companies have resulted from significant changes in the banking laws.

Q: Stocks traded over-the-counter, like through NASDAQ, have no centrally located market location.

Q: NASDAQ ranks as the largest equity market in the world.

Q: The Chicago Stock Exchange is the only one of the regional stock exchanges still viable.

Q: Bringing private companies public for the first time is called an initial public offering.

Q: At the end of 2009, Citigroup (Smith Barney), JPMorgan, and Barclay's Capital were three of the top ranked investment bankers in the underwriting of both global and domestic equity issues.

Q: During the last decade, the financial markets have changed at a rapid pace.

Q: The American Stock Exchange's main competitor in the options and futures markets is the New York Stock Exchange.

Q: The regional exchange plays an important part in the trading markets.

Q: A shelf registration enables an investment banker to sell a small portion of an issue without forming a syndicate.

Q: In the distribution of corporate bond issues, private placements to large insurance companies dominate the volume of public offerings.

Q: When an investment bank sells securities on a best efforts basis, it assumes all risk of the offering.

Q: International competition from world markets has had very little effect on U.S. exchanges.

Q: Deregulation of financial institutions and mergers has created a more competitive environment for retail brokerage houses.

Q: Planning bills of material are bills of material for "kits" of inexpensive items such as washers, nuts, and bolts.

Q: "Phantom bills" are bills of material for subassemblies that do not exist in reality.

Q: Lead times, inventory availability, and purchase orders outstanding are among the five things operations managers must know for effective use of dependent inventory models.

Q: What is MRP? Identify four benefits from its use.

Q: Describe the role of record accuracy in Wheeled Coach's successful use of MRP.

Q: ________ is a dependent demand technique that uses a bill of material, inventory, expected receipts, and a master production schedule to determine material requirements.

Q: Wheeled Coach uses ________ as the catalyst for low inventory, high quality, tight schedules, and accurate records.

Q: Which of the following is NOT a key benefit of MRP? A) increased quality B) better response to customer orders C) faster response to market changes D) improved utilization of facilities and labor E) reduced inventory levels

Q: Dependent demand and independent demand items differ in that: A) for any product, all components are dependent-demand items. B) the need for independent-demand items is forecast. C) the need for dependent-demand items is calculated. D) All of the above are true. E) None of the above is true.

Q: Demand for a given item is said to be dependent if: A) it originates from the external customer. B) there is a deep bill of material. C) the finished products are mostly services (rather than goods). D) there is a clearly identifiable parent. E) the item has several children.

Q: Which of the following is NOT one of the four key tasks that Wheeled Coach insists are necessary for successful MRP implementation? A) The material plan must meet both schedule requirements and facility capabilities. B) The plan must be executed as designed. C) Inventory investment must be minimized. D) Excellent record integrity must be maintained. E) The process must adhere to stringent quality control standards.

Q: The aggregate planning process usually includes dispatching of individual jobs.

Q: Plans for new product development generally fall within the scope of aggregate planning.

Q: A professional services firm is investigating revenue management as a means of taking advantage of unused capacity. Analysts for this firm estimate a demand curve for the firm's service, which is sold by the hour. Points on this demand curve include 9000 hours at the current rate of $60 per hour, 9500 hours at $55, 10,000 hours at $50, and 10,500 hours at $45. Based on this demand curve, what price point would be best for the firm, if its objective is maximum revenue?

Q: A small private university normally charges the same price $200per credit-hour for all courses and for all students. While the university is pretty near capacity in the fall and spring, it finds that its classrooms are only about 60 percent occupied during the summer session. A student of operations management wonders if revenue management might be useful to both the university and its students alike. This student, with help from some economics majors, estimates a demand curve for summer course enrollment. Points on this demand curve include 9000 credit-hours at the current rate of $200, 12,000 credit hours at $180, 15,000 credit-hours at $160, and 18,000 credit-hours at $140. Based on this demand curve, what price point would best serve the university, if its objective is the greatest revenue for the summer session?

Q: To make revenue management work, the company needs to manage what three issues?

Q: Identify the five conditions that make revenue management of interest.

Q: What is the primary management challenge when implementing revenue management?

Q: ________ involves capacity decisions that determine the allocation of resources to maximize revenue or yield.

Q: A hotel room that goes unrented, a dental appointment that no patient booked, and an airline seat that went unsold, are all examples of ________ in services.

Q: To use revenue management strategies, a business should have which combination of costs? A) high variable and high fixed B) low variable and high fixed C) high variable and low fixed D) low variable and low fixed E) either A or B

Q: Industries in which revenue management techniques are easiest to apply are those where: A) use tends to be predictable, and pricing tends to be fixed. B) use tends to be predictable, and pricing tends to be variable. C) use tends to be uncertain, and pricing tends to be fixed. D) use tends to be uncertain, and pricing tends to be variable. E) All of the above, i.e., there is no difference.

Q: June has always believed that the resale furniture store doesnt have quality furniture as it has been used by others. This _____ may cause her to avoid the store and shop at a store specializing in new furniture across town. a. attitude b. cognitive dissonance c. motivation d. perceptual categorization

Q: A customers email address would most likely be stored in which category of a customer profile? a. Personal information b. Demographics c. Psychographic data d. Transactions

Q: Freida used a discount coupon to purchase a new product. In which category of the customer profile should this be recorded? a. Personal Information b. Lifestyle data c. Profile of past responses d. Transaction data

Q: Individual processes that ultimately give meaning to stimuli that confront consumers are known as a. perceptions. b. motivations. c. attitudes. d. opinions.

Q: What should entrepreneurs understand about sociological influences on customers?

Q: CRM is the business version of a. the Ten Commandments. b. the Bill of Rights. c. the Golden Rule. d. Maslows Hierarchy of Needs.

Q: Discuss the importance of why small businesses should offer personal attention. What are suggestions for implementing such procedures.

Q: Aspiring mystery writers study Agatha Christie to learn the art of writing that genre. In this case, Christie would be considered: a. how a subcultural analysis impacts marketing efforts. b. an opinion leader with which businesses want to affiliate. c. a reference group for mystery writers d. a social class because of her lifestyle choices.

Q: Sally is a new customer at Fit and Strong, a training facility for marathon athletes. Upon entering the business, the receptionist asked Sally to fill out a customer profile questionnaire in order to collect data for company files. What information is likely to be asked of Sally?

Q: Juans belief that all low calorie sodas taste awful is an example of a. cognitive dissonance. b. the elimination of an item in an evoked set. c. perceptual categorization. d. unilateral indifference.

Q: Greg is a retired NBA basketball player who has returned to his small hometown to open a basketball gym. There are no other businesses in his area like his concept and he wants to reach his customers. What psychological influences on his consumers does Greg need to consider before opening his location and how will they apply to the basketball gym?

Q: Discuss the benefits and risks of acquiring another firm to gain access to innovations.

Q: Discuss the methods an organization can use to facilitate cross-functional integration.

Q: Define the three types of innovative activity. Which is the most critical activity for U.S. firms?

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