Role of Business
Tangile items such as cars, televisions or soda
Goods
Natural Resources
This department's or person's role is to supervise other people's performance. Know to also be responsible for - Planning, Organizing, Controlling and Leading.
Management
Is an individual or group that has a legitimate interest in a company, organization, or business.
Stakeholder
Legal Environment
Are known as haircuts, hotel stays, or roller-coaster rides
Services
Anything that is manufactured in order to be used in the production of goods and services (for example, equipment) is called what?
Capital
This department is responsible for overseeing the day-to-day business operations, which can include ordering raw materials or scheduling employees to produce tangible goods.
Operations
Groups or people who work directly within the business are what kind of stakeholders?
Internal
What external force or environment encompasses the values, attitudes, beliefs, wants and desires of the consuming public?
Social Environment
Business generates what from the sales of goods and services?
Profits
The ability to recognize a profit opportunity, organize the other factors of production, and accept risk is called what?
Entrepreneurship
This department identifies customers' needs and designs products and service to meet those needs.
Marketing
Groups outside the business or people who do not work inside the business but are affected in some way by the decision of the business are what kind of stakeholder?
External
What external force or environment develops new technologies, the opening of foreign markets, and the rise of consumer expectations?
Competitive
If the expense of a business exceeds the revenue/income generated from their operation, then the business will suffer what?
Loss
Any human service - physical or intellectual
Labor
This department answers questions about how funds should be raised, the long-term cost of borrowing funds, and the implications of financing decisions for the long-term health of the business.
Finance
Customers, Shareholders, Creditors, Local Community, etc. are examples of what kind of Stakeholder?
External
This external force or environment has allowed goods and services to flow across internal borders more efficiently and cheaply.
What is the activity called that provides goods or services to consumers for the purpose of making a profit?
Resources are also called what?
This department provide the organization with knowledge and ideas to keep up and ahead of the competition.
Reseach and Development
Managers, Employees and Owners are what kind of Stakeholders?
Internal