BUS 108 2023FA Test 2 Review Questions and Answers With
complete solution–Expert Verified
LLC: legal entity with liability protection and partnership flexibility
LLP: partnership with limited partners' liability protection
M&A: transaction combining two companies
C Corporations: state chartered entity with separate liability from owners
S Corporations: government creation taxed like sole proprietorships and partnerships
limited liability: owners' responsibility for losses limited to their investment
SWOT: analysis of strengths, weaknesses, opportunities, and threats
CEO: highest oflcer managing an organization
COO: senior executive overseeing daily business operations
CFO: senior executive responsible for financial affairs
CIO: executive overseeing information technology and computer systems
CKO: executive responsible for exchanging knowledge within an organization
B2B: business to business market
HR: team managing organization's staff
HRM: process of managing human resources
1/5
, CRM: learning about customers and exceeding their expectations
CSR: joining environmental and social policies with business goals
SWOT analysis: planning tool for analyzing strengths, weaknesses, opportunities, and threats
Leadership styles: different approaches to leading
planning: setting goals, developing strategies, determining resources
organizing: allocating resources, assigning tasks, establishing procedures
leading: guiding and motivating employees
controlling: measuring results, monitoring performance, taking corrective action
Strategic planning: determining major goals, policies, and strategies
Tactical planning: developing short-term statements about tasks and responsibilities
Operational planning: setting work standards and schedules
Contingency planning: preparing alternative courses of action
Changes in the US labor force: shortages in skilled areas like biotechnology and sustainable
engineering
Civil Rights Act of 1964: prohibits discrimination based on race, religion, sex, etc.
EEOC 1972: strengthens EEOC with workplace guidelines and enforcement powers
ADA 1990: requires equal consideration for applicants with disabilities
2/5
complete solution–Expert Verified
LLC: legal entity with liability protection and partnership flexibility
LLP: partnership with limited partners' liability protection
M&A: transaction combining two companies
C Corporations: state chartered entity with separate liability from owners
S Corporations: government creation taxed like sole proprietorships and partnerships
limited liability: owners' responsibility for losses limited to their investment
SWOT: analysis of strengths, weaknesses, opportunities, and threats
CEO: highest oflcer managing an organization
COO: senior executive overseeing daily business operations
CFO: senior executive responsible for financial affairs
CIO: executive overseeing information technology and computer systems
CKO: executive responsible for exchanging knowledge within an organization
B2B: business to business market
HR: team managing organization's staff
HRM: process of managing human resources
1/5
, CRM: learning about customers and exceeding their expectations
CSR: joining environmental and social policies with business goals
SWOT analysis: planning tool for analyzing strengths, weaknesses, opportunities, and threats
Leadership styles: different approaches to leading
planning: setting goals, developing strategies, determining resources
organizing: allocating resources, assigning tasks, establishing procedures
leading: guiding and motivating employees
controlling: measuring results, monitoring performance, taking corrective action
Strategic planning: determining major goals, policies, and strategies
Tactical planning: developing short-term statements about tasks and responsibilities
Operational planning: setting work standards and schedules
Contingency planning: preparing alternative courses of action
Changes in the US labor force: shortages in skilled areas like biotechnology and sustainable
engineering
Civil Rights Act of 1964: prohibits discrimination based on race, religion, sex, etc.
EEOC 1972: strengthens EEOC with workplace guidelines and enforcement powers
ADA 1990: requires equal consideration for applicants with disabilities
2/5
