Stakeholders
Groups or entities that have a legitimate interest in the success or failure of a business are called
Stakeholders
Starbucks and American Airlines recently banned plastic straws for customer use in response to concerns from which of the following external factors:
Environmental
Which term refers to the money you get to keep from your business activities once your expenses are paid?
Profit
Mario is in charge of his department's planning and organizing. He also allocates resources for his department. Which function does he fill for his department?
Management
Accounting prepares financial statements and finance manages company
funds/money
Veronica is studying environmental engineering because she is interested in renewable energy. This major has become more popular among college students, and consumers are also looking for environmentally friendly products. This trend is due to which external force?
Sociocultural
Changes in government pollution regulations are part of a company's environmental macro-environment. These changes could also be included in which other environmental factor?
Political
_______________ consists of everything that a company does to identify customers’ needs and designing products to meet those needs.
Marketing
Every business must have _______________, whose primary role is to invest money in the business.
Owners
Several major car manufacturers have announced plans to increase production of SUVs and trucks, and to discontinue several models of cars. Their decision was most likely in response to a change in what external factor?
Sociocultural
Common stakeholders for businesses include
Customers
Employees
Owners
Suppliers
Landlords
Bankers
When Apple decides what price to charge for an iPhone, they have to consider the costs to make it. What macro-environmental force would most affect Apple's production costs?
The state of the economy/economics
Susie had just finished the first day of her lemonade stand business. After counting all of the money she had received for selling her cups of lemonade, she announced, "I made $12.50"! Since Susie had not taken out the cost of her cups, the lemonade mix, etc., the $12.50 represented ______________.
Revenue
The primary person who designs and oversees the transformation of resources into goods or services is called the _______ Manager.
Operations
Planning for, obtaining, and managing a company's funds are activities associated with what functional area of a business?
Finance
Every business has people with a legitimate interest in the success or failure of the business and the policies it adopts. These people are known as:
Stakeholders
Which external force includes business environment information such as unemployment rates, inflation, GDP growth, and oil prices?
Economic
The ultimate goal for any business, regardless of what product or service they offer, is to Satisfy customer needs and generate a __________ for its owners
profit
Which functional area at McDonald's would be most involved in pricing new menu items?
Marketing
Management involves planning for, organizing, leading, and _______________ a company’s resources, so that it can achieve its goals.
controlling
Sean owns a local burrito restaurant similar to a Chipotle. He buys his chicken from Fred’s Farm Products. From the point of view of Sean’s company, in which stakeholder group would Fred’s be classified?
Supplier
A business exerts very little, if any, control over the ___________ environment.
Macro
When the expenses for a business exceed revenue, the business is operating at a _________________.
Loss
________________ involves planning for, obtaining, and managing a company’s funds.
Finance
Home Depot includes product information signs in both English and Spanish in its stores. It is responding to which environmental factor?
Sociocultural trends