Business 101 Exam

Bus 101 final exam

61 cards   |   Total Attempts: 182
  

Cards In This Set

Front Back
Legitimacy
4 levels- Ownership, Legal Right, Moral Right, Interest (no legitimacy)
Power
Ability to influence the decision (money, public opinion, political power, etc)
Urgency
Want to influence the decision.
4 business processes
Acquiring customers, acquiring financial capital, managing human resources, creating value.
Acquiring customers
Product (customer), price (cost), promotion (communication), Place (convenience)
Acquiring financial capital
Debt, equity, financial impact (cost and risk)
Managing human resources
Hiring/firing, retaining the best employees.
Creating value
Raw material from suppliers,
Sarbanes-Oxley Act
Protect owners/investors
Critical Thinking Skills
(0)confused fact finder, (1) biased jumper, (2) perpetual analyzer, (3) pragmatic performer, (4) strategic revisioner
Confused fact finder
Looks for the only answer, doesn't seem to get it, quotes inappropriately, illogical/contradictory arguments, appears unable to read carefully, insists professors, textbooks, or other experts provide the correct answer even to open ended problems. 50% of first year college students.
Biased jumper
Jumps to conclusions, doesn't recognize own biases, accuses others of being bias, stacks up evidence for own position and ignores contradicting evidence, uses unsupported personal opinion as evidence, acknowledges multiple viewpoints but cannot adequately address a problem from viewpoint other than own.
Perpetual analyzer
Doesn't reach or adequately defend a solution, exhibits strong analysis skills, but appears to be wishy-washy, writes papers that are long and seem to ramble, doesnt stop analyzing, "wait what about this", "I can also look at it this way and.."
Pragmatic performer
Considers alternatives before reaching conclusions, incorporates others in the decision process, views tasks as finished when a solution is reached.
Strategic re-visioner
Seeks continuous improvement, lifelong learning, anticipates change, thinks outside the box, works toward constructing knowledge over time.