Business - Big Picture
This thing is used as a representation of REAL resources and allows us to trade two items without having to break them apart
The act of buying and bringing in goods/services into the country from another country
Import
This economic system is based on a free market where private owners of companies compete to create/sell goods/services
Capitalism
Give me one example of something NOT acceptable in a professional conversation or email?
Slang, personal topics, off-color jokes, swearing, flirtation
The ability of a country to produce a greater number of a certain type of product than ANY of it's competitors
Absolute Advantage
"Our mission is to ..." is often used to at the beginning of this formal summary of a companies aims/goals
Mission Statement
The act of selling goods/services to another country
Export
Communism
True or False: When you are outside of work, you can act however you want and post whatever you want on social media without consequences
False; As a representative of your company, you are expected to act in a certain way outside of work. How strict this is will depend on your job
The idea that a country should NOT create all things it has an Absolute Advantage in, as it can be more efficient to focus on producing the goods/services that bring the largest profits
Comparative Advantage
This is a declaration of core principles and beliefs, and is used to guide a company's decision
Value Statements
This is the name for when a countries exports are worth MORE than it's imports, meaning it sells MORE goods/services internationally than it buys
Trade Surplus
In this economic system, government controls key industries to ensure they production, distributing goods/services according to need. Non-key industries are regulated by a free market
Socialism
What should you wear to an interview?
Don't wear anything flashy, you want to appear professional
Economic growth, access to a wider variety of goods, innovation, cultural enrichment
"Low Hassle Roofing" is an example of this often punchy statement that explains a company's product or the service it offers
Value Proposition
This is the name for when a countries exports are worth LESS than it's imports, meaning it sells LESS goods/services internationally than it buys
Trade Deficit
This ethical theory states that an action is justifiable if it's consequences produce the most good for the greatest number of people
Utilitarianism
What is your goal when being interviewed?
To do your best job of selling yourself.
NOT to get the job. That's something you can't control.
Give me one of the cons of Globalization (global trade)
More competition, damage to local cultures, damage to the environment, exploitation of vulnerable workforces
Customers, Employees, Shareholders/Investors, and Society are all examples of this word for a person that has interest or a concern in a business
Stakeholder
This word refers to both illegal activities on the high seas AND the unauthorized duplication/distribution of copyrighted materials
Piracy
This ethical theory states that, if something is wrong, it's wrong all the time. There are no exceptions.
Deontology
What is an Org Chart? Define it and draw one on the board
Diagram that shows an organizations employee structure.
This ethical system means, when making a decision, you model your decision off of what you think a virtuous person would do
Virtue Ethics