BUSN 201 Midterm Exam Questions With Revised Answers
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Course
BUSN 201
Institution
BUSN 201
BUSN 201 Midterm Exam Questions With
Revised Answers
Business Entity - answerCommercial endeavours
Organizational culture and formalized decision-making structure
Employee interaction
Company-centric side - answer"the business system" which reflects the underlying
mechanics as to how the busi...
BUSN 201 Midterm Exam Questions With
Revised Answers
Business Entity - answer✔✔Commercial endeavours
Organizational culture and formalized decision-making structure
Employee interaction
Company-centric side - answer✔✔"the business system" which reflects the underlying
mechanics as to how the business is structured.
key partners (backward and forward relationships)
key resources (assets, labour, capital, and management acumen)
market-centric side - answer✔✔How the business is connected to the marketplace
Positioning (available customer segments)
Value proposition (primary and secondary, size, penetration potential)
Opportunity assessment
profitability - answer✔✔how effective and efficient an organization is in using its assets and
capital to generate a profit over a period of time
3 C's - answer✔✔capability, competency, capacity
Hedgehog Concept - answer✔✔what are you passionate about?
what can you be the best in the world at?
what drives your economic engine?
business planning cycle - answer✔✔set strategic objectives and assess business model fit
business plan (what to do where and how)
business plan execution (implementing the "how" deploy resources)
company performance and profitability
Stakeholders - answer✔✔the people whose interests are affected by an organization's activities
Business Decision Making model - answer✔✔1. Visualize and assess the business opportunity
2. Confirm market size and profitability potential
3. Determine market position, approach and continuity
4. Assess company resources and capabilities
5. Determine the tactics required to achieve objectives
6. Adjust, build out or reinvent the business model
strategy - answer✔✔a plan of action or policy designed to achieve a major or overall aim.
tactics - answer✔✔the methods and actions taken to accomplish strategies
societal response to environmental degradation - answer✔✔Unabated consumption
Regulatory compliance legislation and standards
Eco-management initiatives
Full integration of business strategies and environmental responsibilities
Key Factors Impacting Energy Supplies - answer✔✔current supply development constraints
political impact factors
rate of new discoveries
declines in current production
immediate access to additional capacity
geopolitical instability
development speed of alternative energy sources
resource management - answer✔✔strategies to manage and regulate potentially renewable
resources
Trade Management - answer✔✔economic development no longer the main source of
environmental harm, but rather a process contributing to environmental sustainability
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