BUS 6600

5 FACTORS OF PRODUCTION - Answer land, labor, capital, entrepreneurship, knowledge GOVERNMENTS REDUCE THE RISKS OF ENTREPRENEURSHIP - Answer allow private ownership minimal tax establish tradable currency lessen corruption Effectiveness - Answer doing the right things Efficiency - Answer using resources in such a way as to maximize the production of goods and services productivity - Answer output per unit of input Economics - Answer the study of how society ...

Business - Answer any activity that seeks to provide goods and services to others while operating at a profit business environment - Answer the surrounding factors that either help or hinder the development of businesses climate change - Answer a change in the planet's temperature over time database - Answer a collection of organized data that allows access, retrieval, and use of data Demography - Answer The scientific study of population characteristics. e-comme...

Which of the following is NOT true of a company's business model? - Answer It is management's blueprint for delivering a valuable product or service to customers in a manner that will generate revenues sufficient to cover costs and yield an attractive profit. It is management's storyline for how the strategy will be a moneymaker. It consists of two crucial elements: (1) its customer value proposition and (2) its profit formula. It reflects how efficiently a company can meet cu...

Whatever strategic approach is adopted by a company to deliver value, it nearly always requires - Answer performing chain activities differently than rivals and building competitively valuable resources and capabilities that rivals cannot readily match The biggest and most important differences among the competitive strategies of different companies boil down to - Answer whether a company's market target is broad or narrow and whether the company is pursuing a competitive advantage l...

Define human resource management. - Answer the process of determining human resource needs and then recruiting, selecting, developing, motivating, evaluating, compensating, and scheduling employees to achieve organizational goals. HRM's role has grown because of what two things? - Answer •Increased recognition of employees as a resource •Changes in law that rewrote old workplace practices (no longer "personnel" management The U.S. economy has undergone a major shift fr...

Managers today tend to be... - Answer Collaborative, emphasize teams and team building, guide, train, support, motivate, must be globally prepared, must be skilled communicators and team players Name the four functions of management. - Answer planning, organizing, leading, controlling Define management. - Answer the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources Define the planning...

Revenue - Answer Total amount of money a business takes in during a given period by selling goods and services Businesses are part of an economic system that helps CREATE A HIGHER STANDARD OF LIVING and quality of life for everyone - Answer Standard of living - Answer amount of goods and services people can buy with the money they have Quality of life - Answer The general well-being of a society in terms of its political freedom, natural environment, education, health care,...

c. dealing sensitively with workers and cultures around the world. - Answer Efforts are underway to serve the needs of a diverse population. Embracing diversity means a. meeting employment quotas so that diverse groups are always represented in your workforce. b. selling products to immigrants. c. dealing sensitively with workers and cultures around the world. d. providing government programs such as free health care for illegal and legal immigrants. d. Efficiency - Answer _________...

A(n) ________ leader would set objectives and give employees a great deal of freedom to decide for themselves how to accomplish those objectives. - Answer free-rein Amazon customers often find it helpful to read reviews for products they're considering purchasing. After ultimately making the purchase, the customer can go to Amazon and post his or her opinion of the recently purchased product. This strategy not only assists other customers with their decision making, it helps Amazon asse...

Product Placement - Answer Putting products into TV shows and Movies where they will be seen B2B - Answer All individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others Common Stock - Answer The most basic form of ownership in a firm. 1.Voting rights 2.Right to share in profits through dividends Commercial Paper - Answer Unsecured promissory notes of $100,000and up that matures in 270...