BUS,./6600,./FINAL,./EXA
M
1. 5,./FACTORS,./OF,./PRODUCTION:,./land,,./labor,,./capital,,./entrepreneurship,,./knowledge
2. GOVERNMENTS, . / REDUCE, . / THE, . / RISKS, . / OF, . / ENTREPRENEURSHIP:, . / allow,./private,
./ owner-
ship,./minim
al,./tax
establish,./tradable,./currency,.
/lessen,./corruption
3. Effectiveness:, . / doing,./the,./right,./things
4. Efficiency:, . / using,./resources,./in,./such,./a,./way,./as,./to,./maximize,./the,./production,./of,./goods,./and,./services
5. productivity:,./output,./per,./unit,./of,./input
6. Economics:,./the,./study,./of,./how,./society,./manages,./its,./scarce,./resources
7. Invisible,./Hand,./Theory:,./Adam,./Smith's,./theory,./that,./the,./actions,./of,./independent,,./self-
interested,./buyers,./and
sellers,./will,./often,./result,./in,./the,./most,./eflcient,./allocation,./of,./resources
8. Capitalism:,./An,./economic,./system,./based,./on,./private,./ownership,./of,./capital
9. 4,./basic,./rights,./of,./capitalism:,./1.,./The,./right,./to,./own,./private,./property
2. The,./right,./to,./own,./a,./business,./and,./keep,./all,./that,./business's,./profits
3. The,./right,./to,./freedom,./of,./competition
4. The,./right,./to,./freedom,./of,./choice
10. free,./market:,./An,./economic,./system,./in,./which,./prices,./and,./wages,./are,./determined,./by,./unrestricted,./compet
ition, . / between,./businesses,,./without,./government,./regulation,./or,./fear,./of,./monopolies.
11. Socialism:,./A,./system,./in,./which,./society,,./usually,./in,./the,./form,./of,./the,./government,,./owns,./and,./controls,./the,./
means,./of,./production.
12. Comunism:, . / Goverment,./system,./were,./everyone,./are,./equal,./and,./the,./goverment,./distributes,./money,./even
ly
13. mixed, . / economy:, . / An,./economy,./in,./which,./private,./enterprise,./exists,./in,./combination,./with,./a,./conside
rable
amount,./of,./government,./regulation,./and,./promotion.
14. Key,./Economic,./Indicators:,./GDP,,./unemployment,./rate,,./price,./indexes
15. 4,./phases,./of,./the,./business,./cycle:,./economic,./boom,,./recession,,./depression,,./recovery
16. fiscal,./policy:,./ Government,./policy,./that,./attempts,./to,./manage,./the,./economy,./by,./controlling,./taxing,./and,./spend
ing.
,./
,./
, BUS,./6600,./FINAL,./EXA
M
17. monetary,./policy:,./managing,./the,./economy,./by,./altering,./the,./supply,./of,./money,./and,./interest,./rates
18. core,./inflation:,./CPI,./minus,./food,./and,./energy,./costs
19. Keynesian,./economics:,./Theory,./based,./on,./the,./principles,./of,./John,./Maynard,./Keynes,,./stating,./that,./gover
n-
ment,./spending,./should,./increase,./during,./business,./slumps,./and,./be,./curbed,./during,./booms.
,./
,./
, BUS,./6600,./FINAL,./EXA
M
20. 3,./Ethics,./Questions:,./is,./it,./leg
al,./is,./it,./balanced
how,./will,./it,./make,./me,./feel
21. compliance-
based,./ethics,./codes:,./ethical,./standards,./that,./emphasize,./preventing,./unlawful,./behavior, . / by,./increasi
ng,./control,./and,./by,./penalizing,./wrongdoers
22. integrity-
based,./ethics,./codes:,./ethical,./standards,./that,./define,./the,./organization's,./guiding,./values,,./create,./an,./envir
onment,./that,./supports,./ethically,./sound,./behavior,,./and,./stress,./a,./shared,./accountability,./among,./employees
23. Corporate, . / Social, . / Responsibility:, . / a,./business's,./concern,./for,./society's,./welfare
24. social,./audit:, . / a,./systematic,./evaluation,./of,./an,./organization's,./progress,./toward,./implementing,./socially,./responsi
ble
and,./responsive,./programs
25. 4,./primary,./functions,./of,./management:,./planning,,./organizing,,./leading,,./controlling
26. Planning:,./anticipating,./trends,./and,./determining,./the,./best,./strategies,./and,./tactics,./to,./achieve,./organizational,./
goals
and,./objectives
27. Organizing:,./designing,./the,./structure,./of,./the,./organization,./and,./creating,./conditions,./and,./systems,./i
n,./which,./everyone,./and,./everything,./work,./together,./to,./achieve,./the,./organization's,./goals,./and,./objectives
28. leading:,./creating,./a,./vision,./for,./the,./organization,./and,./guiding,,./training,,./coaching,,./and,./motivating,./others,./
to,./work,./ettectively,./to,./achieve,./the,./organization's,./goals,./and,./objectives
29. Controlling:,./measuring,./performance,./and,./taking,./action,./to,./ensure,./desired,./results
30. SWOT, . / analysis:, . / strengths,,./weaknesses,,./opportunities,,./threats
31. 4, . / types, . / of, . / planning:, . / strategic,./(long,./term),,./tactical,./(short),,./operational(part,./of,./tact),,./contingenc
y,./(alter-
nate)
32. Six,./D's,./of,./Decision,./Making:,./1.,./Define,./the,./situation
2. Describe,./and,./collect,./needed,./information
3. Develop,./ alternatives
4. Decide,./which,./alternative,./is,./best
5. Do,./what,./is,./indicated
6. Determine,./whether,./the,./decision,./was,./a,./good,./one,./and,./follow,./up
,./
,./
M
1. 5,./FACTORS,./OF,./PRODUCTION:,./land,,./labor,,./capital,,./entrepreneurship,,./knowledge
2. GOVERNMENTS, . / REDUCE, . / THE, . / RISKS, . / OF, . / ENTREPRENEURSHIP:, . / allow,./private,
./ owner-
ship,./minim
al,./tax
establish,./tradable,./currency,.
/lessen,./corruption
3. Effectiveness:, . / doing,./the,./right,./things
4. Efficiency:, . / using,./resources,./in,./such,./a,./way,./as,./to,./maximize,./the,./production,./of,./goods,./and,./services
5. productivity:,./output,./per,./unit,./of,./input
6. Economics:,./the,./study,./of,./how,./society,./manages,./its,./scarce,./resources
7. Invisible,./Hand,./Theory:,./Adam,./Smith's,./theory,./that,./the,./actions,./of,./independent,,./self-
interested,./buyers,./and
sellers,./will,./often,./result,./in,./the,./most,./eflcient,./allocation,./of,./resources
8. Capitalism:,./An,./economic,./system,./based,./on,./private,./ownership,./of,./capital
9. 4,./basic,./rights,./of,./capitalism:,./1.,./The,./right,./to,./own,./private,./property
2. The,./right,./to,./own,./a,./business,./and,./keep,./all,./that,./business's,./profits
3. The,./right,./to,./freedom,./of,./competition
4. The,./right,./to,./freedom,./of,./choice
10. free,./market:,./An,./economic,./system,./in,./which,./prices,./and,./wages,./are,./determined,./by,./unrestricted,./compet
ition, . / between,./businesses,,./without,./government,./regulation,./or,./fear,./of,./monopolies.
11. Socialism:,./A,./system,./in,./which,./society,,./usually,./in,./the,./form,./of,./the,./government,,./owns,./and,./controls,./the,./
means,./of,./production.
12. Comunism:, . / Goverment,./system,./were,./everyone,./are,./equal,./and,./the,./goverment,./distributes,./money,./even
ly
13. mixed, . / economy:, . / An,./economy,./in,./which,./private,./enterprise,./exists,./in,./combination,./with,./a,./conside
rable
amount,./of,./government,./regulation,./and,./promotion.
14. Key,./Economic,./Indicators:,./GDP,,./unemployment,./rate,,./price,./indexes
15. 4,./phases,./of,./the,./business,./cycle:,./economic,./boom,,./recession,,./depression,,./recovery
16. fiscal,./policy:,./ Government,./policy,./that,./attempts,./to,./manage,./the,./economy,./by,./controlling,./taxing,./and,./spend
ing.
,./
,./
, BUS,./6600,./FINAL,./EXA
M
17. monetary,./policy:,./managing,./the,./economy,./by,./altering,./the,./supply,./of,./money,./and,./interest,./rates
18. core,./inflation:,./CPI,./minus,./food,./and,./energy,./costs
19. Keynesian,./economics:,./Theory,./based,./on,./the,./principles,./of,./John,./Maynard,./Keynes,,./stating,./that,./gover
n-
ment,./spending,./should,./increase,./during,./business,./slumps,./and,./be,./curbed,./during,./booms.
,./
,./
, BUS,./6600,./FINAL,./EXA
M
20. 3,./Ethics,./Questions:,./is,./it,./leg
al,./is,./it,./balanced
how,./will,./it,./make,./me,./feel
21. compliance-
based,./ethics,./codes:,./ethical,./standards,./that,./emphasize,./preventing,./unlawful,./behavior, . / by,./increasi
ng,./control,./and,./by,./penalizing,./wrongdoers
22. integrity-
based,./ethics,./codes:,./ethical,./standards,./that,./define,./the,./organization's,./guiding,./values,,./create,./an,./envir
onment,./that,./supports,./ethically,./sound,./behavior,,./and,./stress,./a,./shared,./accountability,./among,./employees
23. Corporate, . / Social, . / Responsibility:, . / a,./business's,./concern,./for,./society's,./welfare
24. social,./audit:, . / a,./systematic,./evaluation,./of,./an,./organization's,./progress,./toward,./implementing,./socially,./responsi
ble
and,./responsive,./programs
25. 4,./primary,./functions,./of,./management:,./planning,,./organizing,,./leading,,./controlling
26. Planning:,./anticipating,./trends,./and,./determining,./the,./best,./strategies,./and,./tactics,./to,./achieve,./organizational,./
goals
and,./objectives
27. Organizing:,./designing,./the,./structure,./of,./the,./organization,./and,./creating,./conditions,./and,./systems,./i
n,./which,./everyone,./and,./everything,./work,./together,./to,./achieve,./the,./organization's,./goals,./and,./objectives
28. leading:,./creating,./a,./vision,./for,./the,./organization,./and,./guiding,,./training,,./coaching,,./and,./motivating,./others,./
to,./work,./ettectively,./to,./achieve,./the,./organization's,./goals,./and,./objectives
29. Controlling:,./measuring,./performance,./and,./taking,./action,./to,./ensure,./desired,./results
30. SWOT, . / analysis:, . / strengths,,./weaknesses,,./opportunities,,./threats
31. 4, . / types, . / of, . / planning:, . / strategic,./(long,./term),,./tactical,./(short),,./operational(part,./of,./tact),,./contingenc
y,./(alter-
nate)
32. Six,./D's,./of,./Decision,./Making:,./1.,./Define,./the,./situation
2. Describe,./and,./collect,./needed,./information
3. Develop,./ alternatives
4. Decide,./which,./alternative,./is,./best
5. Do,./what,./is,./indicated
6. Determine,./whether,./the,./decision,./was,./a,./good,./one,./and,./follow,./up
,./
,./
