Unit 1.1
Which sector of the economy removes or harvests products directly from the earth in order to extract raw materials or food?
Primary
1. What does NGO stand for?
Non-governamental organization
Divisional/operational objectives are LONG term goals or targets. True or False
False, they are short or medium term.
A statement of the business’s core aims, phrased in a way to motivate employees and to stimulate interest by outside group.
Mission statement.
What is the fishbone diagram used for?
To identify potential causes for a problem
BANKING is an example of which industry sector?
Tertiary
Give an example of a public sector organisation.
IMSS, SAT, etc
Strategies are SHORT OR MEDIUM term plans of action. True or False
False, they are Long term.
The long-term goals a business hopes to achieve.
Corporate aim.
What are the 4 basic elements for any project?
Resources, time, money and scope
Which industry is when businesses take raw materials and change them into useful forms?
Secondary
3. What is a sole trader?
A business in which one person provides permanent finance, and in return has full control over the business and con keep all profits
Health and safety at work, consumer protection and employee protection are examples of which STEEPLE factor?
Legal
New technologies, export markets expanding faster than domestic markets, and lower rates of interest increasing consumer demand are examples of which SWOT factor?
Opportunities.
Which tool allows to analyze the opposing forces within an enviroment?
Force field analysis
GOVERNMENT SERVICES is an example of which industry sector?
Tertiary
4. Mention an advantage and a disadvantage of partnerships.
Any advantage or disadvantage works
What does the SWOT analyze?
Internal strengths and weaknesses and external opportunities and threats.
In the Ansoff matrix, which strategy focuses in the development and sale of new products or new developments of existing products in existing market?
Product Development.
What are decision trees used for?
It sets up options and outcomes of a decision and the economic return that comes with it
The quaternary sector of the economy is a way to describe a knowledge based-part of the economy - which typically includes _______.
Information technology (IT)
5. How can someone identify Public Limited Company is a Private Limited Company?
Public limited companies have “plc” or “inc.” and Private limited companies “Ltd”
Which Ansoff Matrix strategy focuses on new products in a new market?
Diversification
Employees, managers, stakeholders, customers, suppliers, government and competitors are examples of...
Stakeholders
Mention 2 advantages of the Gantt chart.
Assess potential problems and assign responsibility for a task