Busn 201 exam 2 - Study guides, Class notes & Summaries

BUSN 201 Exam 2 with All Correct Answers what will get your through your inventions - Answer-- its new - its not obvious - it has a utility operations management - Answer-management of the process that transforms resources into products job for operations manager - Answer-- production planning - production control - quality control production planning - Answer-managers determine how goods will be produced, where production will take place, and how manufacturing facilities will be ...

BUSN 201 Exam 3 Questions and Answers All Correct Enterprise Resource Planning (ERP) - Answer-a suite of applications called modules, a database, and a set of inherent processes for consolidating business operations into a single, consistent, computing platform Artificial intelligence - Answer-a subdiscipline of computer science that attempts to simulate human thinking Paula Gordon just completed an important job interview as an applicant. She is home now. What should she do? - Answer-Se...

BUSN 201 Exam 2 Questions With Revised Answers Ethical - answerability and willingness to distinguish right from wrong when you're practicing one or the other business ethics - answerapplication of ethical behavior in a business context stakeholders - answerparties who are interested in the activities of a business because they're affected by them how do you recognize an ethical organization? - answer- treating employees, customers, investors, and the public fairly - making fairness a...

©THEBRIGHTSTARS 2024 3) First-line manager - a manager who coordinates and supervises the activities of operating employees. First-line managers spend most of their time working with and motivating their employees, answering questions, and solving day-to-day problems. 6. Key skills of successful managers - answer1) Conceptual skills - the ability to think in abstract terms 2) Analytic skills - the ability to identify problems correctly, generate reasonable alternatives, and select the ...

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 business is structured. key partners (backward and forward relationships) key resources (assets, labour, capital, and management acumen) market-centric side - answerHow the business is connected to th...

BUSN 201 Exam Questions With Revised Answers What makes Canada a competitive and resilient economy? - answer1. productivity gains 2. Strong business investment 3. Technological innovation 4. Moderate wage increases 5. Favorable currency exchange rate G7/8 - answerCanada, USA, UK, Italy, Japan, France, Germany Foreign Direct Investment (FDI) - answer· In 2022, FDI into Canada totaled $726 billion · Largest trading partner = USA · Both Asia/Oceania are active investors in Canada 3 Fu...

BUSN 201 Exam 3 Questions With Revised Answers Mission statement - answera formal summary of the aims and values of a company, organization, or individual Core Values - answera. 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? - answerBudgeting _________ planning means identifyi...

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...

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...