Business Functions
What is recruiting, interviewing, hiring and orienting the appropriate people to fill organizational roles?
HR
A company’s purpose, reason for being, and problem it is solving is its:
Mission
What type of business has one owner, is easy to get started, where the owner has complete control, and where the owner is personally and fully responsible (liable) for any debts and any other damages that might be caused by the business.
Sole Propriertorship
Amazon, FedEx and UPS delivering a product directly to your house is an example of this.
Distribution
Business is about ___________ managing business functions.
People
Which business function is about collecting, organizing, storing, and securing relevant data and information in order to make informed decisions?
IM
A specific procedure or action used to support strategy, in order to achieve goals and objectives, is called:
Tactic
What type of business has multiple owners, benefits from individuals combining resources, but whose liability isn’t limited to the amount of their investment?
General Partnership
Semi-trucks haul blank t-shirts and sweatshirts from the port (container ship) to your company for designing and printing.
Transportation
A manager’s ability to quickly learn and perform certain methods, sequences, or processes in order to accomplish a task is:
Procedural skills
Business is about ___________ managing business functions.
People
A route or plan of action designed to achieve certain goals and objectives is known as which of the following?
Strategy
The type of business ownership where one or more partners have decision-making abilities and unlimited liability, and, where one or more partners have no decision-making abilities and have limited liability.
Limited Partnership
The explanations and expectations of duties and responsibilities are known as which of the following?
Job Descriptions
McDonalds and Subway are examples of a ____________ business model.
Franchise
The making of products from raw materials and other inputs like labor, machinery and tools is:
Manufacturing
The reason why a company exists - its purpose - is best known as which of the following?
The company's mission
This type of business ownership sells shares to the general public and reports its financial information to the public.
C Corp
Which of the following is most often a one-time event held by HR for new employees?
Oreintation
Pizza Hut and Dominos are examples of:
Direct Competition
What focuses on the management of the assets, liabilities, and cash flow of an organization, financial analysis like ROI and ROE, and financial planning of future growth?
Finance
Trends affecting the business world most rapidly, relate to:
Technology
A hybrid business structure, where it combines the operational characteristics of a sole proprietorship or partnership, while limiting the liability of the investors, and where the tax liability is passed through directly to each owner, and it can raise money by selling “units” to “members”.
LLC
Which business function is the enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and for the benefit of society as a whole?
Marketing
If someone were to purchase a ticket for a bus ride from Nashville, TN to Tampa, FL, the bus company would be considered _________________ for airlines.