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BSM 100 Final Exam Questions with Correct Answers 100% Verified and Graded A+ 2025 Porter's Five Forces - Correct Answer A framework for analyzing a company's competitive environment. The number and power of a company's competitive rivals, potential new market entrants, suppliers, customers, and substitute products influence a company's profitability. These include 1. Competition 2. Potential of new entrants 3. Power of suppliers 4. Power of customers 5. Threat of substitute product...

BSM 100 Final Exam TMU Questions with Correct Answers 100% Verified 2025 What is the first problem entrepreneurs face? - Correct Answer The gap in the market What 4 things make a successful business? - Correct Answer Team, Marketing, Finances, Operations Examples of a businesses external environment - Correct Answer Suppliers, Consumers, Political and Economic Issues What are three ways to make meaning in your product/service - Correct Answer Increase the quality of life, Right a wrong- fix ...

BSM 100 MIDTERM EXAM GUIDE WITH CORRECT ANSWERS 100% VERIFIED 2025 industrial revolution 1700-mid-1800s - Correct Answer mass production -factories work specializations efficiency entrepreneurship era (second half of 1800s) - Correct Answer industrial titans wealth creation increase in living standard competition exploitation Production Era (early 1900's) - Correct Answer assembly line refining production productivity gains decrease costs hard sell no customer focus marketing ...

BSM 100 WEEK 4 Study Questions with Correct Answers 100% Verified 2025 Business environment - Correct Answer anything which surrounds the business organization that either help or hinder the development if businesses Types of business enviornments: internal and external - Correct Answer Internal: all functions within a firm External: all forces and events outside organization affect on its activities Macro and Micro Environment - Correct Answer Macro enviornment: not immediately affect the f...

BSM 100 Study Questions with Best Solutions 100% Verified 2025 What makes a successful business? - Correct Answer team, marketing, finance, operations Business - Correct Answer any activity that provides goods and services to earn profit What is value? - Correct Answer When the benefits are greater than the price Business External Environment - Correct Answer people you look for information about your business ex; customers, employees, friends, families Business Internal Environment - Corr...

BSM 100- Exam Review Questions with Correct Answers 100% Verified and Graded A+ 2025 Stategy - Plan of action to reach goal in a time frame Implication of Strategy - The application of the plan of action in which expert knowledge is needed to know milestones and if fail consequences and blame Competitive Strategy - an organizational strategy for how an organization will compete in its business(es) Corporate Strategy - Plan of action that the top management, board of directors, dictates the f...

BSM 100 Study Questions with Correct Answers 100% Verified 2025 Business - Correct Answer Any activity that provides goods and services in an effort to earn profit Entrepreneurs - Correct Answer People who dream, risk time, money, and other resources to start and manage a business Profit - Correct Answer The financial reward that comes from starting and running a business: the money that a business earns in revenue, minus the sales. Non-for-profit focuses on: - Correct Answer 1. helping the ...

BSM 100 FINAL EXAM TMU | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+