Management
What is the main characteristic that define the democratic leadership style?
Collaboration - incorporating everyone’s ideas can making employees more productive and happy to come to work
Name the 4Ps and 2cs
Product, Place, Promotion, Price, Competition, Consumers
Which form and section of which sheet does the term “Accounts receivable” fall under?
Accounts receivable goes into the balance sheet and falls under “Assets”.
What are the 4 functions of management and describe each.
Planning - Creating goals and jotting how companies can achieve them
Organizing - assigning tasks to different employees
Leading - Direct the workers, motivate others, assign tasks for others to complete them
Controlling - keeping track of profits and taking action, if the budget has increased then the company will be able to hire more workers.
What marketing strategies are most effective today?
Many marketing strategies are geared toward the media in today's age due to the fact that almost every person around the world has some sort of technology that allows them to access information in a faster and more effective manner. Advertisements on the internet are easier to get around as young adults no longer look at newspapers but rather online newspapers/articles.
What are the different methods of recording revenues and expenses?
Balance sheets and income statements.
When may it be a good idea to use "Laissez Faire" in the workplace?
With mature, independent, and experienced workers
How do companies use marketing research to expand their business?
Marketing research can be in many forms like surveys, social media, etc. They can use this to find out the majority of their customers' identity and likes. They can use that to their advantage when innovating their products.
How do you calculate owners equity?
assets - liabilities = owners equity
What are good ways to deal with conflicts in a team?
Allow people to express themselves, listen to them, and lets workers collaborate more.
Why are more advertisements geared toward the media?
The media is used by many people in today's world. You can see adults, elders, teens, and kids using social media, radios, and news.
How do you differentiate liabilities from assets?
Liabilities are things that you owe someone else money for, and assets are things that you own that you have paid for yourself and do not owe anyone money for.