Chapter 1
Revenue - Expenses =
Profit
Partnership
Corporate Social Responsibility
A tax put on goods coming from another country
Tariffs
Who is Canada's number 1 trading partner
United States
What are the three economic resources
Natural
Human
Capital
Name of a corporation that conducts business in several countries
Multinational corporation
When an employee informs the public about an ethical violation
Whistleblowing
When a country has imports and exports that is a trade
Deficit
Name the biggest franchise in Canada
Tim Hortons
List 2 characteristics of an entrepreneur
Self Confidence
Flair for innovation
Ability to work along
Aptitude for managing others
When 2 or more companies come together to form one company
Merger
Type of job that would help to discover financial fraud
Forensic Accountant
Name of the trade agreement made up countries that share the pacific ocean
CPTPP
Comprehensive and Progressive agreement for trans pacific partnership
What are the top three needs on Maslow's hierarchy
Self Actualization
Esteem
Belonging
List 2 factors of supply or demand
Demand: change in income, change in taste, change in population, change in expectations, change in price of related goods
Supply: # of producers, change in price, change in technology, future expectation, production costs, environment
Type of corporation owned by the government
List 3 types of ethical dilemmas
Human resources
Customer safety
Conflict of interest
Use of corporate resources
2 Costs of international business
Offshore Outsourcing
Human Rights Issues (labour abuses)
Environmental degradation
This Canadian charity is one of over 192 throughout the world and was started in 1863 by a Swiss Businessman
Canadian Red Cross
The 5 steps of the decision making process
1. Determine decision to be made
2. Identify alternatives
3. Evaluate advantages and disadvantages of each alternative
4. Make a decision
5. Evaluate decision
2 advantages and 2 disadvantages of a corporation
Advantages: Limited liability, easy to raise money, easy to change ownership, board of directors
Disadvantages: More expensive to start, more complicated paperwork, no say in day to day operations
Give three examples of CSR Principles
•providing a safe and healthy work environment
Adopting fair labor policies
Protecting the environment
Being truthful in advertising
Avoiding price discrimination
Donating to charity
4 of the 5 P's of international business
Price
Proximity
Product
Preference
Promotion
This crown corporation is responsible for helping people and items travel across Canada
Via Rail