Business & Economics
Amount of money a business earns above and beyond what it spends for salaries and other expenses.
What is profit?
Common standards of this come from religion
What are ethics?
DAILY DOUBLE
Adam used his entire savings account and borrowed money from friends and family to open a restaurant that he intends to keep small with a few employees. He is a what?
Who is a Micropreneur?
Taking corrective action when necessary is a part of what function of management?
What is controlling?
Organizational structure with various levels of management
What is a tall organizational structure?
The part of economics study that looks at the operation of a nation's economy as a whole.
What is macroeconomics?
Insiders who report illegal or unethical behavior.
Who is a whistleblower?
An owner (partner) who has unlimited liability and is active in managing the firm.
Who is a general partner?
The broad, long-term accomplishments an organization wishes to attain.
What is a goal?
DAILY DOUBLE
Logan from HR, Harley from Accounting, Adam from IT, and Briggs from Marketing all work together on a process improvement diagram. This is an example of what type of team?
What is a cross-functional team?
DAILY DOUBLE
Jody's T-shirt shop produced more T-shirts than they could sell. This caused an excess in what?
What is supply?
When choosing between two unsatisfactory alternatives, the first question you should ask yourself is, "Is my proposed action what"?
What is legal?
This type of entity is subject to double taxation.
What is a C-Corporation?
Developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done?
What is tactical planning?
This method usually involves increasing or reducing the workforce within the business, adding or decreasing departments, opening or closing business units, and/or reallocating resources differently within the business.
What is a reorganization?
A wholesale company doing business with Walmart
What is business to business?
This written code defines the organization's guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees.
What are integrity-based ethic codes?
This type of legal entity advantages include lower failure rate, nationally recognized name, and personal ownership.
What is a franchise?
Top managers need the ability to picture the organization as a whole and the relationship among its various parts.
What are conceptual skills?
Kim's accounting firm consolidated its call center office with its total rewards office to save money and better serve customers.
What is restructuring?
Due to a recent employee strike, JAKL’s Skate Company decided to raise its employees’ wages. This action led to tension amongst this group.
Who are stakeholders?
This concern for a business is based on a commitment to integrity, fairness, and respect
What is Corporate Social responsibility?
Private individuals who invest their own money in potentially hot new companies before they go public.
What is an Angel Investor?
This type of leadership style is effective in emergencies or with new, unskilled workers.
What is autocratic leadership?
When decision-making authority is maintained at the top level of management at the company’s headquarters.
What is centralized authority?