What is a Business?
Name all the components of a business system.
What are inputs, outputs, processes, and feedback?
What is the private sector?
What is the portion of an economy not owned or directed by the government?
Define Business objectives?
What is a stated outcome that a business aims to achieve?
What is any individual or group that affects, or is affected by an organization?
Define multinational company
what is a company that operates in two or more countries, not including its home country?
What is the role of the business?
What is to meet the needs and wants of individuals or organizations?
Name the four types of For-Profit Commercial Enterprises.
What are sole traders, partnerships, publicly held companies, and privately held companies?
What are the two types of objectives?
What is tactical and strategic?
What are the two types of stakeholder groups?
What are internal and external?
What are strategies for internal growth?
What are increased production, developing new products, finding new markets?
Identify what each letter stands for in a STEEPLE Analysis.
What are social, technological, economic, environmental, political, legal and ethical?
What is a social enterprise?
What is any organization that has a social or environmental purpose at its core?
What does SMART stand for?
What is specific, measurable, attainable, relevant, time focused
Name 5 stakeholder groups
employees, managers, owners, shareholders, labour unions, government, suppliers, customers, pressure groups, banks, media, competitors
What takes place when two businesses agreed to form a new business together?
What is a merger?
Explain the difference between an Entrepreneur and an Intraprenuer.
What is an entrepreneur is a person who organizes human physical and financial resources to start a business whereas an intrapreneur is a person who develops new ideas, processes or products for a business in which they already work?
What are the benefits of a Non-Profit Legal structure?
what are limited liability, do not have to pay taxes on profits, volunteers, receive grants/donations?
What is the difference between CSR and a social enterprise?
What is the purpose of a social enterprise revolves around making a positive social and environmental impact where CSR achieves a positive social and environmental impact through its business objectives and design?
In general, stakeholder interests are often more aligned in the ____ terms than in the _____ term
What is long term, short term?
This term refers to a situation where the unit cost of production decreases as the level increases.
What is economies of scale?
What are the four sectors of economy?
What is primary, secondary, tertiary, and quaternary?
Name three examples of services that are provided in the public sector
What are police, fire, public schools, DOT, DMV?
What is a popular business strategy that improves the sustainability of an organization?
What is circular production?
Name two common examples of stakeholder conflict
What is managers and employees, shareholders and managers, shareholders and government, local communities and shareholders?
What are the four quadrants of the Ansoff Matrix?
What are Market Penetration, Market Development, Product Development, Diversification?