Business management

INTRODUCTION TO BUSINESS PROCEDURES CHAPTER 1 QUESTIONS AND ASWERS A+ GRADED. Buy Quality Materials! office a place in which the affairs of a business, professional person, or organization are carried out information data or facts that have been summarized or organized into a meaningful form vendor a seller of goods or services intranet computer network within an organization that is meant or the use of its employees or members telecommute the practice of working and communicating with...

INTRODUCTION TO BUSINESS VALUATION CHAPTER 1 QUESTIONS AND ASWERS A+ GRADED. Buy Quality Materials! Primary opportunities for the valuation analyst can be found in working with: a. Business owners, investors , attorneys, and individuals performing valuations for a variety of reasons, including estate planning and taxation, litigation support, mergers and acquisitions, and financial statement reporting. b. Business owners as only the owner of a business can engage a valuation analyst f...

INTRODUCTION TO BUSINESS MANAGEMENT CHAPTER 1 QUESTIONS AND ASWERS A+ GRADED. Buy Quality Materials! Economic Decision making Process of choosing which wants, among several options, will be satisfied Producers Organizations that determine what products and services will be available for sale. Economic System

INTRODUCTION TO BUSINESS MANAGEMENT CHAPTER 1 QUESTIONS AND ASWERS A+ GRADED. Buy Quality Materials! Needs Food, Shelter and Clothing Wants and Needs Drive the Economy Wants Not needed to survive Goods Physical, Tangible (you can touch) products Services Tasks that businesses perform for consumers (mowing, manicures, car repair) Step 1 in Decision Making Process Identify the Situation Step 2 in Decision Making Process Identify Possible Courses of Action Step 3 in Decision Maki...

INTRODUCTION TO BUSINESS MANAGEMENT CHAPTER 1 QUESTIONS AND ASWERS A+ GRADED. Buy Quality Materials! Business meaning A business is any organisation set up to provide goods and/or services Factors of production meaning Factors of production is the combination of human, physical, financial and entrepreneurial resources to produce goods and services. 4 factors of production : - Land : Natural resources - Labour : physical human effort - Capital : Manufactural resources (tools, equipmen...

INTRODUCTION TO BUSINESS MANAGEMENT CHAPTER 1 QUESTIONS AND ASWERS A+ GRADED. Buy Quality Materials! An example of a public want is a family wanting a new car. True or False False Unlike goods, services are performed for free. True or False False Resources are items used to make and provide goods and services. True or False True Competition among businesses hurts the consumer. True or False False Most people have unlimited wants for goods and services. True All of the following in...

BUSINESS MANAGEMENT CHAPTER 1 QUESTIONS AND ASWERS A+ GRADED. Buy Quality Materials! Business Plan The document that sets out the business idea, its goals and objectives, and other details of how the business will operate (such as its marketing, operations, and finance). It is often a crucial part of an attempt to raise external sources of finance. Businesses Organizations involved in the production of goods and/or the provision of services. Consumers The people or organizations who ac...

BUSINESS MANAGEMENT CHAPTER 1 QUESTIONS AND ASWERS A+ GRADED. Buy Quality Materials! assets items of value owned by a business autocratic management style one where the manager tells staff what decisions have been made business any activity conducted by an individual or individuals to produce and sell goods and services that satisfy the needs of society, as well as making profit communicating the ability to transfer information from a sender to a receiver, and to listen to feedback ...

INTRODUCTION TO BUSINESS MANAGEMENT CHAPTER 1 QUESTIONS AND ASWERS A+ GRADED. Buy Quality Materials! The total opportunity costs (both explicit and implicit) of a venture to an investor represent ______ normal profit The difference between a firm's total revenue and all costs represents __________ economic profit IT is changing the basis of business from labor and manual skills to ___________ knowledge management Effective organization allows a firm to directly result in all of the...

INTRODUCTION TO BUSINESS MANAGEMENT CHAPTER 1 QUESTIONS AND ASWERS A+ GRADED. Buy Quality Materials! Goods Tangible products such as computers. food, clothing, cars, and appliances. Services Intangible (i.e., products that can't be held in your hands) such as education, health care, insurance, recreation, and travel and tourism. Business Any activity that seeks to provide goods and services to others while operating at profit. Entrepreneur A person who risks time and money to star...