工商管理英语课后习题答案汇总

回答问题汇总(U1A-U6A)

Are all corporations publicly held? Can you give some examples? 17

Define “line function. 60

For America, why is business both a means of livelihood and a focus of one’s life at the same time? 1

How do you determine the value of a business? 71

How do you determine who should be hired and who should not be hired? 46

How do you make a decision among mutually exclusive projects? 76

How does advertising differ from personal selling? 67

How does the function of job analysis differ from that of human resource planning? 36

How is base compensation system? 40

How is NPV calculated? 74

How might job analysis increase organizational effectiveness and efficiency? 35

How should sales representatives view customers? 58

How to do a job advertisement? 44

How to make a good compensation system? 41

Is profit maximization the primary goal of a business? Why? 70

Is the supply and demand issue the only concern of pricing decisions? Why? 64

Is there a best legal system? Give an example if you think there is, and explain why if you think there is not.13

Usually who are involved in strategic decision making process? 27

What are the “4Ps” in marketing activities? 62

What are the advantages of Sole Proprietorship? 14

What are the components of compensation? 39

What are the differences between a limited partner and a general partner? 15

What are the differences between civil law and criminal law? 12

What are the differences between finance accounting? 9

What are the factors that affect the optimal capital structure? 79

What are the five eras of marketing identified by Perreault and McCarthy? 50

What are the five eras of marketing identified by Perreault and McCarthy? 55

What are the five key functions of business? 7

What are the main responsibilities of a financial manager? 51

What are the main responsibilities of a financial manager? 69

What are the major factor affecting successful strategies? 20

What are the six steps in strategic management? 19

What are the stages of changing function of Human Resource Management? 32

What are the steps in human resource planning? 37

What are the theoretical frameworks of strategic management? 21

What are the traditional activities in promotion? 65

What are the two kinds of sales promotions? 68

What are the two primary methods of financial forecasting? 72

What does “place” mean in “4Ps”? 63

What does common lay emphasize? 11

What does validity mean? 48

What is compensation? 38

What is employee placement? 47

What is Human Resource Management? 30

What is job analysis? 33

What is marketing`s function? 8

What is meant by stakeholders? 5

What is meant by the concept of “middlemen”? 56

What is recruitment? 42

What is risk? Can you identify some risks that businesses face? 80

What is the base of recruitment? 43

What is the condition for professionals to form a professional partnership? 16

What is the core view of contingency theory? 25

What is the difference between an independent project and a mutually exclusive project? 75 What is the difference between the function of a line manager and that of a staff manager? 61 What is the difference between training and development? 49

What is the focus of IO theory? 22

What is the influence of the Internet on strategic management? 54

What is the most important capital in an organization? 31

What is the reason that many markets are not as competitive as they should be? 28

What resources can be used for sustained competitive advantage? 26

What were the characteristics of the production era? 57

What will a financial manager do if the value of liabilities and equity exceeds the value of assets? 52

What will a financial manager do if the value of liabilities and equity exceeds the value of assets? 73

What are two key trends that changed the context of strategic management? 29

When does an initial public offering or a seasoned offering occur? 77

When is personal selling of great importance? 66

Where to advertise the job opening? 45

Why are businesses not isolated entities? 4

Why are strategies, resources and competencies are assumed to be fairly similar among competitors within a given industry? 23

Why does resource-based theory focus primarily on individual firms rather than on the competitive environment? 24

Why is control important for business? 3

Why is debt financing bencficial? 53

Why is debt financing beneficial? 78

Why is strategy important? 18

Why is the information systems function important? 10

Why is the job analysis important? 34

Why is the role of marketing in the company changing? 59

Why must business sustain a profit? 2

回答问题答案

1、Individuals and groups pursue business for both monetary gain and for personal identification

and recognition.

2、Business must sustain a profit for the livelihood of the business as well as the individuals who

are dependent upon the business for their livelihood.

3、The control will provide for successful operation of the business.

4、But impact and are impacted by other businesses.

5、Stakeholders mean that somebody has rights in a business.

6、×

7、The five key functions are Management, Marketing, Accounting, Finance and Information

Systems.

8、Marketing is responsible to see that the right product is available to the right customer, at the

right time, in the right place, and at the right price.

9、Finance is the process of acquiring, controlling, and planning the use of a business’ funds in

order to accomplish the goals and objective of the business effectively and efficiently. This is different from the accounting function which records the business transactions.

10、The objective is to ensure that the right information is available to make the decision that

needs to be made now. Without accurate information, the success of the business is by random chance. Information systems enable companies to create competitive advantages and to excel in the marketplace.

11、It emphasizes the principle of stare decisis, that is , the authority of prior decisions in resolving

current cases.

12、The role of court decisions is minimized.

13、It is impossible to answer the question of which of these legal systems is the best. Most tend

to favor the system used in our own nation and culture. An evidence of a mature society, however, is its willingness to question and criticize its own system and attempt changes and improvements when possible.

14、An individual simply owns and runs his own business.

15、A limited partner has no right to participate in partnership management. Unlike a general

partnership, a limited partnership must file its articles of partnership with the State. General partnerships can be formed without doing this, or any other formalities for that matter. 16、As a condition for forming this type of organization, state laws typically require the partners

to show evidence of liability insurance to protect consumers.

17、No, not all of them. Larger companies are often publicly held corporations, which trade its

shares on the stock markets.

18、Strategy refers to top management’s plans to develop and sustain competitive advantage so

that the organization’s mission is fulfilled. Following this definition, it is assumed that an organization has a plan, its competitive advantage is understood, and that its members understand the reason for its existence.

19、1) Analyze the opportunities and threats or constraints.

2) Analyze the organization’s strengths and weaknesses in its internal environment.

3) Reassess the organization’s mission and its goals in light of the previous two steps.

4) Formulate strategies.

5) Implement the strategies.

6) Engage in strategic control activities.

20、1) Strategic managers thoroughly understand the competitive environment.

2) The mission and goals of the organization are simple and consistent with the strategy.

3) Strategic managers understand the organization’s resources and how they translate into

strengths and weaknesses.

4) Plans for putting the strategy into action.

5) Possible future changes in the proposed strategy.

21、Industrial organization, Resource-based theory, Contingency theory

22、The central tenet of industrial organization theory is the notion that a firm must adapt to

influences in its industry to survive and prosper, and thus its financial performance is primarily determined by the success of the industry in which it competes.

23、Because IO focuses on industry forces。

24、Resource-based theory views performance primarily as a function of a firm’s ability to utilize

its resources. An organization’s resources are directly linked to its capabilities, which can create value and ultimately lead to profitability for the firm.

25、Contingency theory represents a middle ground perspective that views organizational

performance as the joint outcome of environmental forces and the firm’s strategic actions. 26、Those resources must be valuable, rare, not subject to perfect imitation, and without

strategically relevant substitutes.

27、Strategic decisions involve more than one area of an organization, and usually require obtaining

and allocating sizable human, organizational, and physical resources.

28、While it is often possible to make “win-win” strategic decisions, most involve some degree of

trade-offs between alternatives, at least in the short run.

29、1）Commoditization refers to the increasing difficulty firms have distinguishing their products

and services from those of their rivals.

2）Mass customization, refers to the ability to individualize product and service offerings to meet specific buyer needs.

30、HRM is the area of management concerning itself with the recruitment, selection, training,

development, compensation, retention, evaluation, and promotion of the people within an organization.

31、The Human capital.

32、1)the scientific management movement 2)the personnel department 3)welfare improvement

33、A purposeful and systematic process for collecting ,describing .

34、There are at least two reasons:

1) In order to increase organizational efficiency and effectiveness.

2) Because it is required by the Uniform Guidelines.

35、By knowing what is supposed to be done within a particular job an organization is able to

better look for employees who possess the necessary knowledge , skills , abilities , and other characteristics required for a job that it is seeking to fill. It is also better enabled to evaluate the performance of employees within particular jobs and provide feedback as to how to perform better.

36、Based upon the initial estimates of the types and numbers of employees needed it is job

analysis that is used to assess the specific knowledge, skills, abilities, and other characteristics

necessary for the organization to accomplish its mission and objectives and it is human resources planning that is used to determine the numbers of employees needed.

37、Step 1:Environmental scanning

Step 2:Labor demand forecast

Step 3: Labor supply forecast

Step 4: Gap Analysis

Step 5:Action programming

Step 6: Control and evaluation

38、Refers to all forms of financial returns and tangible services and benefits that employees

receive as part of the employment relationship.

39、base compensatory 、merit pay、pension、profit sharing、health care、family and medical

leave、vacation leave、compensatory leave

40、Minimum wage laws, maximum hours, unemployment, disability requirements, employee

health and safety requirements.

41、All good compensation systems should be based upon a detailed job analysis to allow the

organization to attract ,retain , and motivate needed employees.

This is typically done by an examination of the internal and external pay rates for key jobs in the organization and then creating a hierarchy of position worth based upon the contribution of the job to the mission of the organization.

42、Organizational recruitment is the attraction of employees with the necessary knowledge skills,

abilities, and other characteristics needed for the organization to be able to fulfil its mission and objectives.

43、1) The human resource planning estimates as to the numbers, types, and skill sets of employees

needed.

2) The organizations’ ability to compensate the employees.

44、It should be written up identifying the skills and experiences of applicants desired.

It should be designed such that it attracts employees with the types of background experiences and skills desired for the job and in the numbers needed by the organization. 45、Internal postings : newsletters, e-mail messages, bulletin boards.

External postings: newspapers, magazines, trade journals and so on.

46、Employee selection is the process of collecting and evaluating information about job applicants

in order to determine whether or not an offer employment should be attended.

47、It is the process of fitting a person to the correct position .

The best results tend to be achieved through a matching approach in which the organization matches the qualifications, background experiences, and personalities of the new employees with the qualifications, background experiences, and personalities of the work group and the manager of the workgroup.

48、Validity may be defined as the degree to which available evidence supports the inferences

made from an assessment.

There are three forms of evidence for validity: construct, content, criterion.

49、Employee training involves making a worker more effective and efficient in his/her current job.

Employee development involves the preparation of the employee for future positions with the organization.

50、1.the simple trade era

2.the production era

3.the sales era

4.the marketing department era

5.the marketing company era

51、The main responsibilities of a financial manager include forecasting and planning;acquiring

and investing capital;and managing risk.

52、A financial manager can invest in shares,corporate bonds and so on.

53、Because interest payments are tax deductible whereas dividend payments to stockholders are

not deductible.

54、Movement Toward Information Symmetry, Internet as Distribution Channel, Speed,

Interactivity, Potential for Cost Reductions and Cost Shifting.

55、1) the simple trade era2) the production era 3) the sales era4) the marketing department era

5) the marketing company era

56、Middlemen are those who in turn found more distant customers for their collected products

for sale. Moreover, the middlemen during the simple trade era might have far-flung operations.

57、The production era was characterized by increased use of machines and new organizational

techniques that vastly increased the amount of goods that could be made. This in turn greatly increased demand as such goods could be offered at lower prices to more consumers.

58、The sales era was characterized by a belief that customers were reluctant to buy, in part

because so many companies were competing for their attention.

59、To understand the significance of this evolution, it is useful to review the idea that business

functions have traditionally been viewed as being one of two types: line functions or staff functions.

60、Traditionally, businesses have considered line functions as those activities that directly relate

to the production of the goods or services that are sold by the firm. In both the examples of the traditional manufacturing companies and the service companies, the line functions are activities which create the product or service that the company sells at a profit.

61、Staff functions are those activities that must be performed to provide necessary support for

the line functions to operate effectively.

Marketing has traditionally been considered a staff function.

62、The “4Ps” or “Four ‘Ps’” activities refer to: product, place, price, and promotion.

63、Place refers to how products are made available to buyers. This includes both how the goods

are to be transferred from the seller to the buyer and where to best locate that transfer. 64、Price-related decisions are concerned with not only supply and demand issues but also with

how perceptions of price relate to how customers may distinguish a product from its competition.

65、Promotional activities are traditionally group in four areas: personal selling, advertising,

publicity, and sales promotions.

66、In general, if the cost of a product is high, the ,product is complex, the risk of making a poor

choice is great, or the uses and benefits of the product are difficult to understand, then personal selling activities may be the most important part of the promotion effort coordinated by the seller.

67、Advertising differs from personal selling in that the seller cannot gauge the reaction of the

buyer to the advertising message.

68、Trade promotions, consumer promotions

69、His or her main responsibilities include forecasting and planning, capital budgeting, acquiring

capital, and risk management.

70、Financial managers understand that the primary goal of the business is not profit maximization,

but rather value maximization.

First, it fails to consider the timing of expected cash flows.

Second, maximizing profit fails to consider the riskiness of expected cash flows.

71、The value of a business is determined by the risk, timing, and level of expected cash flows.

72、The two primary methods of financial forecasting are projected financial statements---often

referred to as pro forma financial statements and the additional funds needed (AFN) formula.

73、Managers will then secure external financing or modify the business plan in such a way that

the firm will no longer need external financing.

74、NPV is simply the present value of expected future cash inflows minus the initial investment.

See the equation on page 177.

75、Independent projects are projects whose cash flows are not affected by other projects. A

mutually exclusive project’s cash flows are impacted by other projects.

76、For mutually exclusive projects, one should rely on the NPV method.

77、When a business first becomes a publicly traded company it sells stock to investors in an initial

public offering (IPO). A seasoned offering occurs when a publicly traded company sells additional shares of stock to the public.

78、Because interest payments are tax deductible whereas dividend payments to stockholders are

not tax deductible.

79、The optimal capital structure is influenced by many factors such as the stability of the firm’s

earnings, the liquidity of its assets, and the risk preferences of its stakeholders.

80、fires and floods, interest rates, exchange rates, interest rate risk, exchange rate risk.