OPERATIONS MANAGEMENT

$26.$ Which marketing concept emphasizes creating and maintaining long$-$term customer relationships?

a$)$ Product orientation

b$)$ Sales orientation

c$)$ Marketing orientation

d$)$ Customer orientation

$27.$ What is the term for the process of dividing a market into distinct groups of consumers with similar needs and characteristics?

a$)$ Market segmentation

b$)$ Market positioning

c$)$ Market penetration

d$)$ Market development

$28.$ Which type of organizational structure is characterized by a clear hierarchy and centralized decision$-$making?

a$)$ Flat structure

b$)$ Matrix structure

c$)$ Hierarchical structure

d$)$ Network structure

$29.$ Which financial statement shows a company's revenues, expenses, and net income or loss over a specific period?

a$)$ Balance sheet

b$)$ Income statement

c$)$ Cash flow statement

d$)$ Statement of retained earnings

$30.$ What is the term for the process of analyzing and improving an organization's internal processes and operations?

a$)$ Total Quality Management $($TQM$)$

b$)$ Six Sigma

c$)$ Business process reengineering

d$)$ Lean management

$31.$ Which type of business ownership structure is the easiest and least expensive to establish?

a$)$ Corporation

b$)$ Partnership

c$)$ Sole proprietorship

d$)$ Limited liability company $($LLC$)$

$32.$ What is the term for a financial instrument that represents ownership in a corporation and can be bought or sold on a stock exchange?

a$)$ Bond

b$)$ Share

c$)$ Option

d$)$ Certificate of deposit $($CD$)$

$33.$ Which business strategy involves selling products or services in multiple geographic markets?

a$)$ Globalization

b$)$ Diversification

c$)$ Concentration

d$)$ Localization

$34.$ What is the term for the process of gathering information about competitors and using it to gain a competitive advantage?

a$)$ Competitive analysis

b$)$ Market research

c$)$ Strategic planning

d$)$ Risk assessment

$35.$ Which financial metric measures a company's efficiency in using its assets to generate sales?

a$)$ Return on Investment $($ROI$)$

b$)$ Return on Assets $($ROA$)$

c$)$ Earnings per Share $($EPS$)$

d$)$ Price$-$Earnings Ratio $($P$/$E Ratio$)$