- Study guides, Class notes & Summaries

Why would a company go global? correct answers By going global businesses have the ability to diversify markets and stabilize revenue Where would a company like to go? correct answers Where the company has a competiive advantage in the market How would a company go global? correct answers By utilizing different modes of entry What are the modes of entry? correct answers Exporting, Outsourcing, Franchising, Joint Ventures, Acquisitions, Greenfield Investments How to manage the enviorm...

-

4 pages

Written in 2024/2025

Grade A+

ProPerfomer

What is the primary purpose of a business? correct answers To earn profit Which of the following is NOT an example of a good? correct answers A print ad Which of the following is NOT an example of a service? correct answers Personal training Last year, Carmela's florist shop had higher expenses than revenues. Which of the following must be true? correct answers The florist shop posted a loss for last year Entrepreneurs invest time and money in a business in spite of the fact that it...

-

5 pages

Written in 2024/2025

Grade A+

ProPerfomer

Globalization correct answers as processes by which products, people, companies, money and information are able to move quickly around the world as decision makers desire, with few cross-border impediments in their way. push factors (home market) correct answers drives the company out of its home country or other countries where it currently does business. -unemployment, lack of safety, lack of services, more efficient production, access to technology and skills pull factors (target ...

-

7 pages

Written in 2024/2025

Grade A+

ProPerfomer

How do political systems impact business? correct answers •Consumer protection •Taxation and social charges •Health and safety at work •Finance regulation •Promotion of research and innovation What is civil society? correct answers •Nongovernmental organizations •Sphere of activities in society in which citizens are free to pursue personal interests and associations freely •Ex) Girl Scouts, religious groups Define nation-state. correct answers •Authorit...

-

7 pages

Written in 2024/2025

Grade A+

ProPerfomer

profit correct answers revenue - cost inferior good correct answers when your income raises you spend less money on things normal good correct answers when your income raises you spend more money on things capital correct answers physical inputs to the production costs (nonhuman like land and energy) ceteris paribus correct answers all else equal labor correct answers work effort technology correct answers how capital and labor are organized inflation correct answers rate of...

-

3 pages

Written in 2024/2025

Grade A+

ProPerfomer

Profit correct answers revenues - expenses Factors of Production correct answers resources a business needs to produce g/s includes; labour, entrpreneurs, natural resources, capital, information economic system correct answers the way that a nation allocates its resources command economy correct answers government controls all/most FOPs and makes all/most production decisions includes communism and socialism communism correct answers where a government owns/operates all industr...

-

8 pages

Written in 2024/2025

Grade A+

ProPerfomer

levels of management correct answers top, middle, first line management skills correct answers technical skills, human relation skills, conceptual skills, time management skills, decision making skills Strategic Management Process correct answers setting goals then formulating strategies SMART goals correct answers Specific, Measurable, Attainable, Realistic, Time bound SWOT analysis correct answers strengths, weaknesses, opportunities, threats Levels of Strategy correct answers 1...

-

6 pages

Written in 2024/2025

Grade A+

ProPerfomer

Which of the following statements best describes a firm's 'business model'? correct answers Its goals and means of achieving them Which of the following is a for-profit organization? correct answers Google A 'supply chain' is defined as which of the following? correct answers A succession of stages involved in producing and delivering a product Which one of the following is a privatized company? correct answers A former government agency that has been floated off as a company into ...

-

6 pages

Written in 2024/2025

Grade A+

ProPerfomer

Assets correct answers Things that you own Liabilities correct answers Things that you owe shareholders equity correct answers Assets - Liabilities = shareholders equity Competitive Advantage correct answers -some aspect of a product or company that makes it more appealing to its target customer -(what is the strength of the company that makes it more attractive than others) Revenue correct answers Money that a company brings in through the sale of goods and services Business Mod...

-

5 pages

Written in 2024/2025

Grade A+

ProPerfomer

Define business correct answers an organization that produces or sell goods/services to make a profit How is profit calculated? correct answers Revenue - Expenses What is a non-profit organization? correct answers organizations that do not try to make profit. Instead their funds are from government grants or sale of products/services to provide services to the provide what is an economic system? correct answers the way in which nations distributes its resources among its citizens why...

-

13 pages

Written in 2024/2025

Grade A+

ProPerfomer

The social market model of national economy prioritizes which one of the following? correct answers societal goals The government of Nerumbia wants to open the country's economy to international business and increase its overall attractiveness as a potential market or investment site. Which of the following will facilitate this decision of the Nerumbian government? correct answers Investing in infrastructure and in the required supporting businesses Taxation as a percentage of GDP is gene...

-

13 pages

Written in 2024/2025

Grade A+

ProPerfomer

Explain "globalization of markets" correct answers competing with markets overseas (exporting overseas: selling semiconductors, tobacco, grain) Explain "globalization of production." correct answers making things overseas (ex: phones) What is the difference between a for-profit and non-profit company? correct answers For-Profit: businesses that aim to make money; Non-profit: organizations such as charities, which exist for specific good causes in societies What does CSR stand for? c...

-

9 pages

Written in 2024/2025

Grade A+

ProPerfomer

ethnocentric correct answers belief that one's own national culture and ways of doing things are the best geocentric correct answers aims to focus on global corporate goals, but allowing for local responses and adaption polycentric correct answers openness to other cultures and ways of doing things PEST correct answers P: form of govt, levels of freedom, company law and policy, employment law E: rate of inflation, wage/unemployment levels S: language, religion/culture, age distri...

-

4 pages

Written in 2024/2025

Grade A+

ProPerfomer

Sole Proprietorship correct answers The simplest form of business organization, in which the owner is the business. Advantages: Easy to start/end, owner gets all of the profits, less taxes. Disadvantages: Unlimited liability, hard to raise money, management difficulties, time commitment, poor health benefits, no succession. General Partnership correct answers An agreement by two or more persons to carry on, as co-owners, a business for profit. Advantages: Easy to start, more financial reso...

-

6 pages

Written in 2024/2025

Grade A+

ProPerfomer

Factors of production correct answers Labour, capital, entrepreneurs, natural resources & information Command economy correct answers Relies on centralized get to control all or most factors of production Market economy correct answers Individuals- producers and consumers- make decisions about production and allocation through supply and demand Two most basic types of command economies correct answers Communism & socialism Input market correct answers Firms buy resources from househo...

-

6 pages

Written in 2024/2025

Grade A+

ProPerfomer

goods correct answers tangible services correct answers intangible business or firm correct answers entity that tries to make a profit profit correct answers revenue minus expenses Entrepreneur correct answers a person who risks time, effort, and money to start and operate a business revenue correct answers total amount of money a business takes in loss correct answers when expenses are greater than revenue standard of living correct answers amount of goods and services peop...

-

4 pages

Written in 2024/2025

Grade A+

ProPerfomer

BUS 200 Exam 1 Questions & Answers 2024/2025 goods - ANSWERStangible services - ANSWERSintangible business or firm - ANSWERSentity that tries to make a profit profit - ANSWERSrevenue minus expenses Entrepreneur - ANSWERSa person who risks time, effort, and money to start and operate a business revenue - ANSWERStotal amount of money a business takes in loss - ANSWERSwhen expenses are greater than revenue standard of living - ANSWERSamount of goods and services people can...

-

6 pages

Written in 2023/2024

Grade A+

Bensuda