Busn 201 exam - Study guides, Class notes & Summaries

BUSN 201 Exam 3 Questions With Revised Answers As mentioned in the textbook, Jonathan Swift likened _____ to "cobwebs" because they seem to stretch in every direction to catch innocent flies while failing utterly to stop wasps and other creatures responsible for much greater crimes against human comfort. businesses laws- lawmakers bureaucracy - answerLaws In court, the _____ is the party filing the complaint, while the _____ is the party charged in the complaint. district attorney /...

BUSN 201 Exam Questions With Revised Answers Chapter 1 Free Enterprise - answerThe system of business in which individuals are free to decide what to produce, how to produce, and at what price to sell it. Economics - answerThe study of how wealth is created and distributed Microeconomics - answerThe study of decisions made by individuals and businesses Macroeconomics - answerThe study of national economy and the global economy Capitalism - answerIndividuals own and operate the majority o...

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 _____________...

BUSN 201 Exam 3 Questions and Answers As mentioned in the textbook, Jonathan Swift likened _____ to "cobwebs" because they seem to stretch in every direction to catch innocent flies while failing utterly to stop wasps and other creatures responsible for much greater crimes against human comfort. businesses laws- lawmakers bureaucracy☑️☑️ Laws In court, the _____ is the party filing the complaint, while the _____ is the party charged in the complaint. district attorney / crim...

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...

ethical☑️☑️ ability and willingness to distinguish right from wrong when you're practicing one or the other business ethics☑️☑️ application of ethical behavior in a business context stakeholders☑️☑️ parties who are interested in the activities of a business because they're affected by them how do you recognize an ethical organization?☑️☑️ - treating employees, customers, investors, and the public fairly - making fairness a top priority - holding ever mem...

Basic management functions☑️☑️ Management is the process of coordinating people and other resources to achieve the goals of an organization. 1) Planning - establishing organizational goals and deciding how to accomplish them 2) Organizing - the grouping of resources and activities to accomplish some end result in an efficient and effective manner 3) Leading - the process of influencing people to work toward a common goal. Concerned with an organization's human resources 4) Motiv...

Mission statement☑️☑️ a formal summary of the aims and values of a company, organization, or individual Core Values☑️☑️ a. are the fundamental beliefs of a person or organization b. also help companies to determine if they are on the right path and fulfilling their goals by creating an unwavering guide. Which of the following is not one of the four primary functions of management?☑️☑️ Budgeting _________ planning means identifying those aspects of a business that ar...

BUSN100 Midterm Exam (APUS) Question 1 of 10: In your own words explain, are entrepreneurs born or made? Question 2 of 10: In your own words, what is a venture capitalist? Question 3 of 10: In your own words, explain three of the nine building blocks for managers to use in developing an innovative...