Human Resources
A set of activities designed to attract a talented pool of job applicants
Job recruitment
A limit on quantity of products imported or exported
What is a quota?
This management function involves setting objectives and determining a course of action to achieve them.
What is planning? (or goal setting, or strategy)
Two companies combining to form a new company.
What is a merger?
The primal goal of all businesses
What is to earn a profit?
Training that augments the skills and knowledge of managers & professionals.
What is development?
Occurs when a country buys more than it sells.
What is a trade deficit?
This leadership style involves making decisions with little to no input from employees.
What is autocratic leadership?
A company that owns many other companies
What is a conglomerate?
A good or service with tangible and intangible characteristics that provides satisfaction and benefits.
What is a product?
The skills, knowledge, and experience possessed by an individual or population, are viewed in terms of their value or cost to an organization.
What is Human Capital?
A business that has productive activities in two or more countries.
What is a multi national enterprise?
Set of plans that ensures an organization will run as smoothly as possible during an unexpected disruption
What is a contingency plan?
SMART goals stand for these five key characteristics.
What is Specific, Measurable, Achievable, Relevant, and Time-bound?
The study of how resources are distributed for the production of goods and services within a social system
What is economics?
Name for planning how you want your business to progress and predicting future outcomes.
What is forecasting
A country has this in the production of a product when it is more efficient than any other country at producing it
What is absolute advantage?
This management theory suggests that employees are driven by a series of progressively more complex personal and professional needs, starting with basic survival and leading to self-fulfillment.
What is Maslow's Hierarchy of Needs?
The removal of government regulation from industry, with the aim of increasing efficiency and improving competition
What is deregulation?
What is the most common type of business in the United States?
What is a sole proprietorship?
A feedback system that uses inputs from peers, self, customers, managers, and subordinates.
What is 365 degree feedback?
This is a pure economic system which the goods and services that a country produces, the quality in which they are produced, and the price at which they are sold are all planned by the government.
What is a command economy?
This leadership theory categorizes managers as either Task-Oriented or People-Oriented and suggests that the best leadership style depends on the work environment and team dynamics.
Warren Buffet's insurance and and investing conglomerate
What is Berkshire Hathaway?
Current chairman of the federal reserve
What is Jerome Powell