Chapters 1 &2
The rivalry among businesses to sell their goods and services
What is Competition?
IIs a country in which a multinational company conducts business activities
what is a host country?
A(n) ____ is a written contract granting permission to operate a business to sell products and services in a set way.
What is a franchise?
Are thefirst level of management responsible for the day to day operations of a business.
What are Supervisors?
A natural, inborn aptitude to do certain things
What is a talent?
Is the first step in the decision-making process
What is define the Problem?
A limit that a government places on the quantity of a product that may be exported or imported during a given period
What is a quota?
Less than 1% have this (and more) number of employees
What are 100 workers?
Management style in which managers are more collaborative and involve employees in decision-making.
What is a Strategic Management style?
Jobs going unfilled in an area because there are no workers to fill them.
What is locational unemployment?
GDP measures a country's economic output during
What is one year?
A tax that a government places on certain imported products
What is a tariff?
raising capital, buying goods and services, and maintaining business records
What are business activities?
A group employees meeting for lunch is an example of this type of communication
What is informal?
Additions and improvements to a basic product
What are product features?
Inflation seems to harm these people the most
What are People on a fixed income?
are principles of morality or rules of conduct
What is Ethics?
Are people who take on a risk in starting a business to earn a profit.
What are Entrepreneurs?
A few hours each month that employees can schedule for non-job activities
What is personal time?
Is the first step in the consumer decision-making process .
What is recognize a need?
Dividing GDP by the total population of a country results in that country's
What is GDP per capita?
Examples include oil, coal, and gas
What are non-renewable resources?
●Not keeping adequate records
●Not having enough start-up money
●Lack of management experience
●Lack of experience with the type of business
What are reasons why business fail?
This federal law prohibits job discrimination based on race, color, religion, gender, and national origin.
What is the Civil Rights Act of 1964 ?
In a communication path, the person or organization that has information to communicate to another person or organization
What is the sender?