Define, Define, Define!
This sector is made up of businesses owned and controlled by individuals or groups of individuals.
What is Private Sector?
These are the factors of production.
What are land, labour, capital and enterprise?
A business is formed by two or more people to carry a business together. They share capital investment, and usually, shared responsibility.
What is a partnership?
CSR.
What is an abbreviation to 'corporate social responsibility'?
This is what they called the cookie in Squid Game.
What is Dalgona?
What is when the death of an owner or director does not lead to the company’s break-up or dissolution?
These are the 4 business functions.
- HRM
- Finance and Accounts
- Marketing
- Operations Management
These are two purposes of a charity.
possible answers:
- prevention of poverty
- advancement of education
- advancement of religion
- advancement of health
- advancement of citizenship
- advancement of art, culture, and heritage
- advancement of human rights
- relief of those in need
- advancement of animal welfare
This is a document detailing a company’s rules and guidelines on staff behavior that must be followed by all employees.
What is an 'ethical code of conduct'?
These athletes do not have time to use the restroom during their 'game' - therefore, they have been instructed to urinate in their suits if they have to.
Formula 1 race drivers.
The definition of 'private limited company'
What is 'a small to medium sized business that is owned by shareholders who are often members of the same family; this company cannot sell shares to the general public'?
A bakery is a part of this economic sector.
What is the secondary sector?
If the owner is in debt, and his business is failing, the government has the right to take his personal possessions and properties to pay off the debt.
What is "Unlimited Liability"?
These are two benefits to adopting a CSR approach.
The image of the business and its products can be improved with a green and socially responsible approach. This could become a major competitive advantage
Attracting the best motivated and efficient employees may become easier as many workers will prefer to work for and be associated with socially aware businesses
The goodwill of other stakeholder groups, resulting from socially responsible behavior, could lead to better relations with employees, suppliers, customers and the local community
Bad publicity and pressure group activity resulting from socially irresponsible behavior should not arise
Higher long-term profitability should result form all of the factors above
Mixing red and blue pigments.
What is purple?
This sector is known as the service sector.
What is the tertiary sector?
A disadvantage of _____________ is the high cost of business consultants and financial advisers when creating a plc.
What is "Public Limited Company"?
These are two disadvantages of adopting a CSR approach.
Short-run costs could increase; e.g. fitting anti-pollution equipment, paying workers above poverty levels, not exploiting vulnerable groups when advertising
Shareholders may be reluctant to accept lower short-run profits (even though long-term profitability may increase)
Loss of cost and price competitiveness if rival businesses don't accept social responsibilities and have lower costs as a result
Consumers may be prepared to pay higher prices for products made in a socially responsible manner, but during an economic recession, they might prefer lower prices and worry less about how products were made
There could be considerable social backlash against a business that claims to be socially responsible but is discovered to operate in socially irresponsible ways; e.g. a furniture maker claims to use sustainable timber but buys from rainforest suppliers (sometimes referred to as a 'greenwash'.
This animal's brain is smaller than its eyeball.
What is an ostrich?
The definition of vision statement.
What is 'a statement of what the organisation would like to achieve or accomplish in the long term'?
These are problems faced by start-ups. (name two)
What are:
- Competition
- Lack of record keeping
- Lack of finance and working capital
- Poor management skills
- Changes in the business environment
Limited Liability is an advantage of ____________.
What is "Public Limited Company"?
The main reasons for changing corporate approaches to social responsibility include:
increasing publicity from international pressure groups that use the internet to communicate, blog, raise funds and organise boycotts
• the United Nations Millennium Development Goals, which includes ‘environmentally sustainable growth’
• global concern over climate change and the impact this could have on social and economic development
• legal changes at local, national and European Union level – these have forced businesses to refrain from certain practices.
This animal sleeps for an average of 16-20 hours a day.
What is a cat?