Chapter 1
Chapter 2
Chapter 3
Chapter 4
HBR Articles
100
Name 3 of the 5 factors of production.
Labour, Capital, Entrepreneurs, Natural Resources, Information
100
What is purchasing power parity?
Principle that exchange rates are set so that the prices of similar products in different countries are about the same.
100
Using confidential information to gain from the purchase or sale of stock.
What is insider trading?
100
What is a new venture.
A recently formed commercial organization that provides goods and/or services for sale.
100
The 5 components of Emotional Intelligence.
What is Self-Awareness, Self-Regulation, Motivation, Empathy and Social Skill?
200
Draw a supply and demand curve. Label curves, axis and equilibrium.
(See picture)
200
Name 4 of the 7 dimensions of the external environment.
Political-legal environment, economic environment, technological environment, socio-cultural environment, business environment, emerging challenges and opportunities, global business environment.
200
What is a whistle-blower?
An individual who calls attention to an unethical, illegal, and/or socially irresponsible practice on the part of a business or other organization.
200
What is the difference between an entrepreneur and an intrapreneur?
Entrepreneur: a business person who accepts both the risks and the opportunities involved in creating and operating a new business venture Intrapreneur: people who create something new within an existing large firm or organization
200
A self assessment that evaluates the ethical behaviours performed by oneself, as described in "Managing Oneself".
What is the "Mirror Test"?
300
What is the difference between input and output markets?
Input: firms buy resources from households, which then supply resources. Output: firms supply goods and services in response to demand on the part of households.
300
What is the difference between a merger and an acquisition?
Merger: the union of two companies to form a single new business. Acquisition: the purchase of a company by another, larger firm, which absorbs the smaller company into its operations.
300
What is Corporate Social Responsibility?
The idea that a business should balance its commitments to individuals and groups that are directly affected by the organization's activities.
300
A small business is less than ____ people.
What is 100?
300
Hannah is very persuasive, can lead change effectively, and is very competent in building/leading teams. Hannah has this component of EI.
What is Social Skill?
400
List 4 of the 5 roles government play that influence business activity.
Customer, competitor, regulator, taxation agent, provider of incentives and financial assistance, provider of essential services.
400
List the forces in Porter's Five Force Model.
Threat of new entrants, bargaining power of consumers, threat of substitutes, bargaining power of suppliers, industry rivalry.
400
List the four approaches to social responsibility.
Obstructionist stance, defensive stance, accommodative stance, proactive stance.
400
Crystal is a sole proprietor who is responsible for $500,000 of debts in her business even though she had only invested $20,000 in it. This is an example of what term.
What is unlimited liability.
400
The type of mistake that states that managers reject opportunities that may appear small at first and that they may feel marginalized if they are not involved with big projects.
What is Strategy Mistakes? - not every innovation needs to be big. Sufficient small innovations can lead to big profits.
500
List and describe 3 of the 4 basic degrees of competition.
Perfect competition, monopolistic competition, oligopoly, monopoly
500
Identify and describe three types of unemployment
Frictional: people are out of work temporarily while looking for a new job Seasonal: out of work due to the seasonal nature of their job Cyclical: people are out of work due to a downturn of the business cycle Structural: people are unemployed because they lack skills needed to perform the available jobs
500
List the five major corporate stakeholders.
Employees, investors, suppliers, customers, local communities.
500
The four reasons for failure in small businesses.
What is: - Managerial incompetence/inexperience - Neglect - Weak control Systems - Insufficient capital
500
One Skills Lesson in "Innovation: The Classic Traps"
What is: - Most technical of innovations require strong leaders - Members of successful innovations stick together - Innovations need connectors (people that have connections in mainstream business or outside partners)
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