Business
The four Economic Sectors
What are Primary, Secondary, Tertiary, and Quarternary?
Functions of Business
What are Finance/Accounting, Marketing, Management, Information Technology, Operations, Human Resources?
The two levels of private sector companies.
What are Public and Private Companies - PLC and LTD?
Expressed core business strategy
What is the "Aim" of a corporation?
Types of Internal Stakeholders.
What are employees, managers/directorsc, and stockholders/shareholders?
The Four Factors of Production.
What are Land, Labor, Capital and Enterprise?
Business owned and controlled by a government
What is the Public Sector?
Formed between the private and public sectors to create projects aimed at benefiting the public.
What are Public-Private Partnerships (PPP)?
Long term what organization would like to achieve/accomplish and describes the future if accomplished.
What is a company "Vision" statement?
The 6 types of External Stakeholders.
What are Customers, Suppliers, Competitors, Special Interest Groups, Goverment, Bankers/Creditors?
The categories of Business.
What are Goods, Services, and Combos?
Business owned and controlled by individuals or groups of individuals
What is the Private Sector?
A business with social objectives that reinvests most of its profits into benefiting society rather than maximizing returns to owners.
What is a Social Enterprise?
The business’s core aims, phrased to motivate employees & stimulate interest by outside groups/potential investors.
What is a company "Mission" Statement?
A stakeholder interest of a "customer".
What are Value for money, Product quality & safety,
Guarantees, Service levels, Long-term rewards for loyalty?
In developed economies, the reliance on the secondary sector becomes less important as activity increases in the tertiary sector.
What is Deindustrialization?
One person provides the finances and has full control of the business.
What is a Sole Trader/Proprietor?
The change in focus for companies above just making a profit.
What is the Triple Bottom Line - People, Planet, Profit?
This concept applies to those businesses that consider the interests of society by taking responsibility for the impact of their decisions and activities on customers, employees, communities, and the environment.
What is Corporate Social Responsibility(CSR)?
A stakeholder interest of an "employee".
What are Employment security, Wage levels/benefits, Good working conditions, participation in decision making?
Changing or altering a natural resource or a semi-finished good to make it more
desirable.
What us adding-value?
Two differences between a partnership/sole P and a Corporation.
What are continuity and limited liability?
A legally constituted body with NO participation or representation of any government
What is an NGO - Non Governmental Organization?
The typical Hierarchy of Objectives for a Corporation?
What are AIM, Corporate, Region, Division, Departmental, Individual?
Ways to address Stakeholder Conflict.
What are Arbitration, Worker participation,
Profit Sharing, and Share ownership schemes?