It’s business as usual. Business is the thing that has helped some people reach the height of power and has thrown others on the streets. The business environment is unforgiving with the ones that do not have enough experience and commit mistakes, but is extremely rewarding with the people that are looking to create something meaningful.
Are you curious about the more interesting aspects of business? Then why not look at the samples we prepared for you? Facts and figures that are collected, analyzed and summarized for presentation and interpretation are called what? In a data set, the number of observations will always be the same as the number of what? What is controlling in entrepreneurship? See all of the other questions in our business trivia.
Side A: Scarcity Side B: The condition in which human wants are forever greater than the available supply of time, goods, and resources.
Side A: Resources Side B: The basic categories of inputs used to produce goods and services. Also called factors of production. Economists divide resources into three categories: land, labor, and capital.
Side A: Land Side B: A shorthand expression for any natural resource provided by nature.
Side A: global business Side B: the buying and selling of gods and services by people from different countries
Side A: multinational corporation Side B: a corp that owns businesses in two or more countries
Side A: direct foreign investment Side B: a method of investment in which a company builds a new business or buys and existing business in a foregin country
interdependence of business functions Side B:
identifying business functions — relationship to value chain
• coordinating business functions
– planning and controlling
– functional and market structures
– division of labour
– span of control
– chain of command
• interrelationship between business functions
operations – manufacturing/services Side B:
• the role of operations
• organising operations
– purchasing/supply chain management
– rostering and scheduling
– task design, plant/office layout, warehousing
– technology, robotics, CAD/CAM (computer aided design and computer aided
• control including inventory control and quality management
• records management
Side A: employment relations 1 Side B:
the role of employment relations
• the human resource cycle
– acquisition — identifying staffing needs, recruitment, selection
– development — training, development and maintenance of databases
– maintenance — monetary/non monetary benefits
– separation — voluntary/involuntary
Side A: service Side B: an intangible product that involves a deed, performance, or an effort that cannot be physically possessed
Side A: 80% of US GDP Side B: services account for nearly ________ of US GDP
Side A: service characteristics Side B: 1. intangibility2. inseparability of production and service3. perishability4. heterogeneity5. client based6. close customer contact