Busn 201 Study guides, Class notes & Summaries

Business Entity☑️☑️ Commercial endeavours Organizational culture and formalized decision-making structure Employee interaction Company-centric side☑️☑️ "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☑️☑️ How the business is connected to the marketplace Positioning (available custo...

The majority of product ideas come from *Marketing consultants *small sized organizations and entrepreneurs *large organizations *medium-sized organizationsSmall sized organizations and entrepreneurs By making Christmas decorations available the day after Thanksgiving, Holly's Holiday Shop is offering customers what kind of utility? *place utility *Time utility *ownership utility *form utilityTime Utility When a Domino's delivery person brings a pepperoni pizza to your dorm room, th...

What makes Canada a competitive and resilient economy?☑️☑️ 1. productivity gains 2. Strong business investment 3. Technological innovation 4. Moderate wage increases 5. Favorable currency exchange rate G7/8☑️☑️ Canada, USA, UK, Italy, Japan, France, Germany Foreign Direct Investment (FDI)☑️☑️ · In 2022, FDI into Canada totaled $726 billion · Largest trading partner = USA · Both Asia/Oceania are active investors in Canada 3 Fundamental Market Composition princi...

BUSN 201 Study Guide Exam Questions With Revised Answers What is a form of virtualization in which a company's data and applications are stored at offsite data centers accessed over the Internet. - answerCloud computing What are the four elements of the Management Process? - answerPlanning Organizing Leading Controlling When you are going through the process of planning in an organization, you are essentially working to answer two questions, ________________________, and _____________...

SustainabilityRelated to the triple bottom line; threatens the survival or current and future generations ResponsibilityNature of relationships between stakeholders EthicsDecision making in ethical dilemmas Milton FriedmanA corporation's sole obligation is to maximize wealth to its shareholders and has no responsibility or capability to address societies interests SustainabilityMeets the needs of the present, without compromising the needs of the future generations Economic impactRevenu...

What is a form of virtualization in which a company's data and applications are stored at offsite data centers accessed over the Internet.☑️☑️ Cloud computing What are the four elements of the Management Process?☑️☑️ Planning Organizing Leading Controlling When you are going through the process of planning in an organization, you are essentially working to answer two questions, ________________________, and _________________________________?☑️☑️ What is the situa...

BUSN 201 MIDTERM Exam Questions With Revised Answers Define internal risk. Provide an example. - answerFailure of the business. Ex: Bankruptcy Define external risk. Provide an example. - answerThe negative externalities when a business fails. Ex: employees or lenders not being paid, possibility of being sued. The four factors of production are: - answerNatural rescources, labor, capital, and entrepreneurial ability. Define productivity - answerthe quantity of goods and services produced f...

BUSN 201 Midterm A Exam Questions With Revised Answers Business ethics looks at whether business decisions - answerare right or wrong. If the owners of a certain grade of wheat stored in a single silo hold title as tenants in common, a seller-owner can pass title to a buyer only by separating the goods. - answerF To the extent that it has not been modified by the UCC, the common law of contracts applies to sales contracts. - answer! F Posing as eBank, Frank e-mails Grace, asking her to up...

BUSN 201 Midterm A Exam Questions With Correct Answers Are right or wrong. - answerBusiness ethics looks at whether business decisions F - answerIf the owners of a certain grade of wheat stored in a single silo hold title as tenants in common, a seller-owner can pass title to a buyer only by separating the goods. ! F - answerTo the extent that it has not been modified by the UCC, the common law of contracts applies to sales contracts. phishing - answerPosing as eBank, Frank e-mails Grace,...

Define internal risk. Provide an example.Failure of the business. Ex: Bankruptcy Define external risk. Provide an example.The negative externalities when a business fails. Ex: employees or lenders not being paid, possibility of being sued. The four factors of production are:Natural rescources, labor, capital, and entrepreneurial ability. Define productivitythe quantity of goods and services produced from each unit of labor input. Often classified in (G/S) produced/ hour Define deflationPe...