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100

This business creates value by performing activities that provide a benefit for the customer

Service Business

100

promote communication and data usage through the company or to customers.

Information Technology

100

The policies and practices of government would shape what environment?

Legal & Regulatory

100

the recruiting, hiring and support of its personnel.

Human Resources

100

When revenue exceeds expenses

Profit

200

outline of how the business intends to generate revenue

Business Model

200

A resource or capability a business must have in order to compete

Barrier to entry

200

When the healthy connection between risk and reward is broken

Moral Hazard

200

What does Tangible mean?

A good that can be held 

200

performing at a high level and conducting oneself with purpose and pride.

Professionalism

300

expected norms of behavior in a particular situation

Etiquette 

300

Kwik Trip having a rewards program, while Pam's corner does not.

Competitive Advantage

300

Can be large enough to create new businesses, or even destroy current businesses

Disruptive Technologies

300

Target Market, Buying influences, Competition all shape what?

Market Environment

300

establishing the long-term financial goals of the company, investing funds and raising capital

Financial Manager/Officer

400

Name 4 ways business can contribute to society

employment, goods/services, taxes, growth/stability

400

activities are intended to identify new ideas that have the potential to result in new goods and services.

Research & Development

400

comprised of forces resulting from the practical application of science to innovations, products, and processes

Technological Environment

400
Name four negative effects of business

generating pollution and creating waste, creating health and safety risks, disrupting communities, causing financial instability

400

What functional area creates branding and advertising strategies to communicate with potential customers, and sets prices?

Marketing

500

Businesses that require a lot of money, equipment, or other resources in order to operate are known as what?

Capital-Intensive

500

Name all 5 environments that a business operates in

Social, Economic, Legal & Regulatory, Market, Technological

500

List the 6 traits of professionalism

striving to excel, being dependable and accountable, being a team player, communicating effectively, demonstrating a sense of etiquette, making ethical decisions

500

Virtually every decision made by a business is influenced by what environment?

Economic Environment

500

Name the 7 functional areas of a business 

R&D, IT, Operations, Marketing, HR, Finance/Accounting, Business Services