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Q:
Up-to-the-minute dynamic content is what attracts new and returning customers ("eyeballs") and makes them stay longer ("stickiness"), which builds customer loyalty.
Q:
(p. 532) Which of the following agencies sets the drinking water standards?
A. The Environmental Protection Agency
B. The Food Safety and Inspection Service
C. The Consumer Product Safety Commission
D. The Food and Drug Administration
Q:
(p. 531) The National Highway Traffic Safety Administration does all of the following EXCEPT:
A. mandates minimum safety standards for automobiles, trucks, and their components.
B. establishes fuel economy standards for cars and light-duty trucks.
C. administers grants for states and cities to promote highway safety.
D. conducts its own investigations for information about defects.
Q:
Selecting a domain name is an important marketing and branding consideration for a business because it will be the business's online address and create an identity for the business.
Q:
(p. 530) Which of the following products is regulated by the CPSC?
A. Pesticides
B. Firearms
C. Cosmetics
D. Bicycles
Q:
An informational Web site provides opportunities for the customers and the business to communicate and share information.
Q:
Transforming an existing business to an e-business means a manager must change business processes, but not the way people work or communicate.
Q:
(p. 529) Which of the following is true regarding the Consumer Product Safety Commission (CPSC)?
A. The agency was set up at the crest of the first wave of consumer protection.
B. Congress gave it little autonomy.
C. It is subject to presidential control.
D. Its five commissioners have staggered seven-year appointments.
Q:
Business process management (BPM) systems monitor the execution of the business processes so that managers can analyze and change processes in response to data, rather than on just a hunch.
Q:
(p. 529) The Consumer Product Safety Commission (CPSC) has the power to:
A. set mandatory safety standards for more than 15,000 consumer products.
B. minimize but not ban the sale of products that expose consumers to unreasonable risks.
C. prevent false and deceptive advertising.
D. protect the public from fraudulent and deceptive sales practices.
Q:
Organizational transformation is a comprehensive concept that implies not only a major change, but also a sharp break from the past.
Q:
(p. 528) Which of the following acts made it illegal for an individual to sit on the board of directors of two or more corporations if the corporations compete in the same market(s)?
A. The Keating-Owen Act
B. The Robinson-Patman Act
C. The Clayton Act
D. The Sherman Antitrust Act
Q:
An e-business transformation is solely about technology.
Q:
(p. 528) _____ refers to a situation that arises when an individual sits on the board of directors of two or more corporations.
A. Collaborative leadership
B. Director interlock
C. Office sharing
D. Directorate formation
Q:
Once the company is well known and successful, it can go to a stock exchange to raise money via an initial public offer (IPO).
Q:
There is a serious downside for start-up businesses that acquire venture capital because they lose control over the business.
Q:
(p. 528) The Federal Trade Commission (FTC):
A. promotes fair competition in industries by enforcing antitrust laws.
B. bans the sale of products that expose consumers to unreasonable risks.
C. sets safety and effectiveness standards for over-the-counter drugs.
D. regulates the safety and labeling of cosmetics.
Q:
Venture capitalists tend to invest in companies that have identified what seems to be an outstanding business opportunity, have taken some action to make the opportunity happen, such as written a new software application or secured a patent, and need an infusion of funds and management expertise to expand and launch the business.
Q:
(p. 528) The Federal Trade Commission (FTC) has broad duties to:
A. ban the sale of products that expose consumers to unreasonable risks.
B. prohibit discrimination by lenders based on religion.
C. set safety standards for radiation-emitting products.
D. challenge mergers and acquisitions that reduce competition or innovation.
Q:
(p. 528) Which of the following is true regarding the Federal Trade Commission (FTC)?
A. This important regulator was set up in the Populist era.
B. The president nominates its seven commissioners.
C. The Senate has to approve the commissioners.
D. Each commissioner serves a five-year term.
Q:
An important source of financial support or direct funding for pre-VC (venture capital) firms is an incubator.
Q:
When the entrepreneur's personal funds are insufficient, the entrepreneur will go to friends, family members, or to financial institutions.
Q:
(p. 527) In 2009, Congress gave the FDA power to:
A. protect consumers from any practice that limits competition.
B. regulate cigarettes and smokeless tobacco.
C. ban tobacco products.
D. reduce nicotine levels to zero.
Q:
Some entrepreneurs may simply invest personal funds from savings, personal lines of credit, or a house mortgage since these sources of "bootstrap funding" are typically enough.
Q:
(p. 526) Which of the following is true regarding the FDA?
A. Its main emphasis in terms of budget and staffing is food regulation.
B. It is lax on premarket testing of new prescription drugs.
C. It has the authority to inspect foreign food factories but the resources to visit only one-tenth of 1 percent of them.
D. It has been successful in eradicating economically motivated contamination and counterfeiting in the food supply.
Q:
(p. 526) The FDA has the authority to:
A. regulate the safety and labeling of alcoholic beverages.
B. protect the public from fraudulent sale practices.
C. regulate the quality, safety, and labeling of poultry.
D. approve human and veterinary drug and medical services.
Q:
The primary reason an entrepreneur writes a business plan is to acquire funding from a bank, an angel investor, a venture capitalist, or the financial markets.
Q:
(p. 526) Which of the following observations about the Food and Drug Administration (FDA) is true?
A. It was created by Congress in the Food Quality Protection Act of 1996.
B. It descends from the old Agency for Healthcare Research and Quality.
C. It is a big, complex agency in the Department of Health and Human Services.
D. Its administrator reports to the Under Secretary for Food Safety.
Q:
Planning an online business is similar to planning for any startup venture in that it centers on a business plan.
Q:
Medium and large businesses, or those seeking external funding, must have an informal business plan.
Q:
(p. 524-525) Which of the following federal agencies was established in 1966 to set highway safety standards?
A. The Federal Highway Administration
B. The National Transportation Safety Board
C. The National Highway Traffic Safety Administration
D. The Federal Motor Carrier Safety Administration
Q:
As a general guideline, although virtually anything is available for sale on the Internet, the degree of sales success is somewhat dependent on the type of item or service being offered for sale and how it can be delivered.
Q:
(p. 524) The first national movement that sprung up with the aim to protect consumers was the:
A. Socialist movement.
B. Populist movement.
C. Progressive movement.
D. Elitist movement.
Q:
Many good ideas and realistic initiatives have failed because of poor execution due to the lack of sufficient business skills by the owners or principals of the business.
Q:
(p. 523) Intense competition between corporations works to bring consumers:
A. lower prices.
B. lower quality.
C. less choices.
D. average quality.
Q:
(p. 522) Laws that prohibited stores from opening on Sundays were called:
A. soft laws.
B. tort laws.
C. hard laws.
D. blue laws.
Q:
Online businesses may be pure play companies or click-and-mortar companies that add online projects, such as e-procurement or selling online, as additional marketing channels.
Q:
(p. 521) Critics of consumerism believe that:
A. people are judged for their interior qualities rather than their external possessions.
B. consumption for emotional reasons encourages productive uses of money.
C. consumption is compatible with sustainability.
D. things are judged for their market value rather than their intrinsic value.
Q:
Unlike the brick-and-mortar marketplace, the failure rate for online companies is low.
Q:
List eleven website design criteria.
Q:
(p. 520) Economist Thorstein Veblen argued that in the new industrial society, people earned their status by:
A. conquest in warfare.
B. prowess in hunting.
C. conspicuous consumption.
D. respecting interior values.
Q:
List Web site hosting options for an online business and explain why domain names are important.
Q:
(p. 518) _____ is an emphasis on material objects or money that displaces spiritual, aesthetic, or philosophical values.
A. Consumerism
B. Individualism
C. Materialism
D. Rationalism
Q:
Identify three common ways to add EC initiatives to the existing business.
Q:
(p. 518) According to historian Gary Cross, consumerism:
A. is less powerful in comparison to other political ideologies, religions, or class distinctions.
B. is the belief that goods give meaning to individuals and their roles in society.
C. is a formal philosophy.
D. is not a dominant ideology in America.
Q:
List and briefly discuss funding options for a start-up online business.
Q:
(p. 516) Which of the following was a major force that oppressed individualism in the northern colonies of America in the early 1800s?
A. The ascetic Puritan theology
B. The ascetic Presbyterian theology
C. The Catholic Church
D. The Separatist belief
Q:
List and briefly describe the three steps that most new businesses go through.
Q:
(p. 516) _____ is the idea, arising in the Enlightenment, that human beings are ends in themselves.
A. Collectivism
B. Utilitarianism
C. Consumerism
D. Individualism
Q:
________ offers one of the most popular storefront packages with three levels of merchant solutions: starter, standard, and professional.
A) Google
B) Amazon.com
C) eBay
D) Yahoo!
Q:
(p. 516) All of the following statements about the Enlightenment are true EXCEPT:
A. it refers to a wave of new, challenging ideas based on human reason and scientific inquiry.
B. it believed that the pursuit of material goods beyond subsistence shapes social conduct.
C. it promoted the idea that human beings are ends in themselves.
D. it encouraged individual choices and allowed individuals to focus on material pleasures.
Q:
Options for acquiring storefronts include each of the following except
A) build them from scratch.
B) join a mall.
C) build them from components.
D) build them from templates or storebuilders.
Q:
(p. 515) Which of the following is an ideology in which the pursuit of material goods beyond subsistence shapes social conduct?
A. Consumerism
B. Citizenship
C. Materialism
D. Productivism
Q:
In addition to providing an easy mechanism for buying books, the Amazon.com Web site is easily searchable by book title and author. It also has book reviews and suggests titles based on previous purchase activity. These enhancements make the Amazon site a favorite for readers. This is an example of
A) CNP.
B) using a meta tag.
C) internal Web site promotion.
D) search engine optimization.
Q:
(p. 515) The movement that promotes the rights and powers of end users in relation to the sellers of products and services is called:
A. citizenship.
B. materialism.
C. consumerism.
D. productivism.
Q:
(p. 536) The key to strict liability is that the injured person must prove negligence or breach of warranty to prevail in court.
Q:
Banks are more selective about who gets an account for accepting credit cards online because
A) dot com failures have made banks less willing to work with online companies.
B) CNP transactions are less secure and riskier.
C) fees are higher for online processing.
D) online transactions do not produce much revenue for banks.
Q:
The quality and usefulness of the user's experience when interacting with the website best defines
A) credibility.
B) feasibility.
C) usability.
D) efficiency.
Q:
(p. 536) An implied warranty is a written warranty arising out of reasonable expectations that a product will both fulfill its ordinary purpose and fulfill the particular purpose of the buyer.
Q:
(p. 535) A manufacturer or seller can be held liable for a breach of express warranty but not implied warranty.
Q:
Aids that help visitors find the information they need quickly and easily best defines
A) cookies.
B) site navigation.
C) keystroke logging.
D) crumbs.
Q:
(p. 535) A warranty is a contract in which the seller guarantees the nature of the product.
Q:
Define green computing. Provide five guidelines for saving computing power.
Q:
Identify five ethical principles for privacy protection.
Q:
(p. 534) The principle of caveat emptor imposes on buyers the responsibility to inspect carefully and skeptically items they purchase.
Q:
(p. 534) A tort solely involves an intentional action that causes injury.
Q:
List ten ways that information about individuals is collected and used online.
Q:
(p. 534) A tort is a private wrong committed by one person against another person or his/her property.
Q:
Identify five intellectual property law specialty areas.
Q:
(p. 533) The Environmental Protection Agency sets drinking water standards and also regulates bottled water.
Q:
Explain the similarities and differences between laws and ethics.
Q:
A searchable database of computer hardware that meets a strict set of environmental criteria best defines
A) Electronic Product Environmental Assessment Tool.
B) Cybercollection Distribution Database.
C) Digital Rights Management Database.
D) Cloud Computing and Data Management Compliance Tool.
Q:
(p. 529) The Consumer Product Safety Commission has the power to ban the sales of products that expose consumers to unreasonable risks.
Q:
Potential benefits of telecommuting or virtual work for community and society include
A) allows the movement of job opportunities to areas of high unemployment.
B) increases employment.
C) reduces traffic-related pollution and congestion.
D) all of the above.
Q:
(p. 528) Director interlock refers to a situation that arises when an individual sits on the board of directors of two or more corporations.
Q:
(p. 527) The president nominates two out of the five commissioners of the Federal Trade Commission.
Q:
Potential benefits of telecommuting or virtual work for an organization include
A) reduces or eliminates travel-related time and expenses.
B) improves job satisfaction and productivity.
C) allows closer proximity to and involvement with family.
D) increases productivity despite distractions.
Q:
The study and practice of eco-friendly computing resources which is now a key concern for businesses in all industries best defines
A) blue computing.
B) red computing.
C) green computing.
D) safe computing.
Q:
(p. 527) In 2009, Congress gave the Food and Drug Administration the power to regulate cigarettes and smokeless tobacco.
Q:
The gap that has emerged between those who have and those who do not have the ability to use the technology best defines
A) digital divide.
B) electronic divide.
C) computing divide.
D) cyberdivide.