Business Management 1
________________ is the
direct control of a business or
enterprise. it means working with
people and using resources
effectively and efficiently to
accomplish organizational goals
business management
Who performs
management
functions?
managers
How many levels are there in business management?
3 levels
Top Level Managers do what 2 things?
set goals and plan for the future
What are some examples of Top Level Managers
president, CEO, CFO, COO, CHR
What is a measure of an organization's portion of the total value of sales in a specific industry?
Market Share
What is a stock?
A share of ownership in a company.
What is a brand?
A name, term, design, or symbol that identifies a business or its products.
First Line Managers direct
the day to day activities of operational employees
What is "S" stand for in SWOT Analysis?
Strengths
What is someone who hires employees.
Employer
What are the names of the functions of managers
planning, controlling, organizing an leading
Setting company goals and deciding what needs to be done falls under what function
planning
What is a written agreement between two or more parties?
Contract
The department of a corporation that prepares income statements and balance sheets?
Accounting
What is a competitor?
A business offering similar products or services targeting the same market
What is a partnership?
A form of business ownership in which the business is owned by two or more persons.
Different jobs require different ______________
education levels
What is the term for the amount of money made by a business?
Revenue
What is Human Resources
Interviewing potential employees, orienting new employees, and being in charge of employee benefits are typical job duties.
What is work description
required to on the job
What is quality control?
Performing tests, inspections at all stages of production to ensure quality standards are met
What management level would Dara Rodemack falls under in the classroom
first line managers
What are liquid Assets?
Cash, stock and debtors
What is a tariff?
A tax imposed on imported goods and services