Vocab
A profit-seeking organization that provides goods a services is a what?
A Business.
Entrepreneurs fuel the U.S. economy. True or False?
True.
The total cost to run your company is way too high to run inside of the United States, name a good alternative.
Outsourcing, Offshoring, Nearshoring.
A manager needs good _______, when looking for a companies needs and figuring out how to satisfy them.
Vision.
From 1760-1850, the mass production of goods, aided by machinery, was named what?
The Industrial Revolution.
A reward for providing a good or service is called a what?
Profit.
The social era of business began in the 2000's. True or False?
True.
The company you work for has the main focus of disaster relief. This company is considered a what?
Not-for-profit Organization.
Having the ability to analyze a situation and create a form of judgement is called what?
Critical-thinking.
Prior to 1776, the primarily agricultural business structure was named the _______ period.
Colonial.
A business who's main focus is something other than a profit is a what?
Non-profit Organization.
Private Property, Competition, Profits, and Entrepreneurship are the four basic rights of the private enterprise system. True or False?
False.
Your boss wants you to hire on a new diverse team. When doing the interviews, what kind of things are you looking for?
Gender, age, skills, physical/mental capabilities, etc.
Outside of the box thinking in order to come up with a solution is named what?
Creativity.
The use of the internet and social media to make business since the early 2000's is named the _____ era.
Social.
Natural Resources, Capital, Human Resources, and Entrepreneurship are all part of what?
Factors of Production.
Most of all small business owners have completed college. True or False?
False.
You create your own business. With many online business's erupting what might be a good business decision?
Strategic Alliance.
With internal and external factors always arousing, a good manager should always have the ability to do what?
Ability to Lead Change.
Through the 1920's, companies had to figure out how to produce goods faster. This was known as the ________ era.
Production.
Private Property, Competition, Profits, and Freedom of choice are all basic rights of what system?
Private Enterprise System.
Profit is a corresponding factor payment of capital. True or False?
False.
Turns out your business's ratings were pretty low this year. Your boss wants you to come up with a way to make the business look more admirable. What is something that could make this happen?
Solid profits, stable growth, good work environment, etc.
In order to be a good manager, your creativity and critical thinking must lead to what?
Actions.
During this time period advertising became a huge factor in the selling of goods.
The Marketing Era.