Business Management

IB Business Management definitions 2024 Mission Statement - answerA positive statement setting out a business's core aims in order to motivate employees and engage the interest of external stakeholders. Cooperative - answerA group of individuals (workers, consumers or producers) working together to meet common goals. Corporate Social Responsibility (CSR) - answerRelates to the social, ethical, and environmental responsibilities identified by businesses & the strategies that they adopt t...

Business Management Exam #1 Study Guide Flash Cards Questions With 100% Verified Solutions.

Business Management UNIT 3/4 EXAM Questions And Answers ole Trader - ANS Businesses owned and operated by a single individual. Advantage: -Owner has complete control over all decisions in the business - The owner has the right to keep all the profits after taxes Disadvantage: - Unlimited liability for business debts - Burden of management and failure all falls to the owner Partnership - ANS Businesses that are owned by a minimum of 2 and a maximum of 20 people. A partnership m...

Business Management Exam Questions And Answers Solved Correctly Business - answerThe organized effort of individuals to produce and sell, for a profit, the goods and services that satisfy society's needs. What are the four resources a business needs in order to be successful? - answerHuman resources, material resources, informational resources, and financial resources. What do service businesses do? - answerThey provide services. Ex: Haircuts, legal advice, tax preparation, etc. Interme...

BUSINESS MANAGEMENT, MARKETING, AND TECHNOLOGY MTTC

Higher Business Management - Understanding Business Exam Questions And Answers 2024 Primary sector - answerConsists of businesses that are involved in the extraction and exploitation of natural resources Secondary sector - answerConsists of businesses that are involved in manufacturing and construction, by taking the natural resources provided by the primary sector and turning them into goods to be sold later Tertiary sector - answerConsists of businesses and organisations that are invol...

Business Management Chapter 1-5 Exam Questions And Answers organization - ANS a group of people who work together to achieve some specific purpose management - ANS pursuit of organizational goals efficiently and effectively by integrating the work of people through planning, organizing, leading and controlling the organization's resources efficient - ANS cheap and wise effective - ANS get it done Management process(Four Management Functions) - ANS Planning Orga...

For employees who like their current work, moving into management means they can no longer do that work. - Answer True There are a number of activities that must be performed by all managers no matter what the type of size of the company. - Answer True The primary work of all managers can be grouped within four functions: planning, organizing, implementing, and budgeting. - Answer False A manager who spends most of the time on one management function or is responsible for a specific par...

IB Business Management definitions 2024 Mission Statement - answerA positive statement setting out a business's core aims in order to motivate employees and engage the interest of external stakeholders. Cooperative - answerA group of individuals (workers, consumers or producers) working together to meet common goals. Corporate Social Responsibility (CSR) - answerRelates to the social, ethical, and environmental responsibilities identified by businesses & the strategies that they adopt to ...