Caplin Construction is a construction company founded in 2005. Most of Caplin\'s

Question

Caplin Construction is a construction company founded in 2005. Most of Caplin's clients are government entities such local city and state government agencies. The company has little experience bidding on, or designing projects, for private businesses or industries. Recently budgets for government projects have been cut and the company now sees that they must begin to pursue contracts with private businesses and industries. The company has learned about a new large hotel chain entering the state. Caplin knows the hotel chain will need parking structures and parking lots for all of the new hotel properties and Caplin would like to bid (and hopefully win!) the contract. Which function of Caplin Construction would have primary responsibility for defining a business strategy that would create success for the company in this environment?

a- accounting b-marketing c-management d- operations

When products and services are produced or provided, ________ is responsible for ensuring that those products and services meet high quality standards?

a-finance b- management c- accounting d- operations

A(n) ________ is a person who seeks to earn profits by assuming the risk of owning and running a business?

a- entreprenuer b-employee c- manager d-supervisor

________ is the only factor of production that needs to be produced.

a- capitol b-labor c-human resource d- natural resource

Explanation / Answer

1. a. Accounting

In this case the objective is to win the bid and the organization with the lowest bid will win the contract, hence the accounting needs to be proper in order to be effective.

2. d. Operations

The operations team will ensure quality of the product

3. a. Entrepreneur

Is a person who actually aims to earn profit by taking the risking of owning an running a business by himself.

4. b. Labor

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