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The Global Business Environment & Management Flashcards | StudBud
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The Global Business Environment & Management
The Global Business Environment & Management
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The basics to #business, their #environments, #organization, #HumanResources, and #strategy.
Flashcards
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Questions
34
Answers
1
Who's more likely to take a risk?
Big company
Medium-sized business'
Start-ups
College students
2
In HR, employees are seen as:
Cost
Risk
Investment
Liability
3
Macroenvironment: Which demographic doesn't belong?
Generation X
The worst generation
Millenials
Baby boomers
4
What would not be considered First-Line Management?
Floor Supervisor
Lead Chef
CEO
Office Manager
5
What is an investment?
Taking a risk expecting on average to lose
A return based off an unfavorable risk
Taking a risk expecting on average to gain
Donation to a non-profit
6
What's the Marketing Environment?
Actors/forces that affect management's abilities
An example of sustainable and green business practices
The location where business is conducted
Mediums that interconnect business practices
7
What is a Value Proposition?
The financial gain a business receives through consumers
A deal or arrangement between two or more businesses
Set of benefits or values to deliver to consumers
A statement that satisfies the business and consumers
8
Which of the following does not enhance company culture?
Performance Management
Training
Micro Management
Coaching
9
How are the Marketing and Sales Concepts contrasted?
Focus on intermediaries VS Focus on external environments
Consumers VS Clients
All of the above
Out to In VS In to Out approach
10
Who or what are Stakeholders?
First Line Management
Shareholders
Workers / Customers
Chefs
11
Microenvironment: What helps a company promote, sell, & distribute its product to final buyers?
Suppliers
Marketing Intermediaries
Competitors
The Company
12
What is business?
An activity: good/service at a profit
An activity: always a risk
An activity: good/service at an expense
Taking a risk in anticipation of a gain
13
What is a Mission Statement?
Expresses principles/philosophy on how a business should run
Statement about issues that the company feels are important
The end goal of a business
The steps the business needs to take to achieve it's revenue
14
What's the Microenvironment?
The large side of business practices
The smaller side of business practices
Large societal forces that affect the Microenvironment
Actors close to the company that affect its ability to serve
15
Which of the following is not a Marketing Management Orientation?
The Production Concept
The Positioning Concept
The Marketing Concept
The Selling Concept
16
Chain of Command: They bridge the gam between management and on-management labor force:
Middle Managers
First-Line Managers
Bottom Managers
Top Managers
17
What is Marketing Management?
Supply Management
Customer Management
Client Management
Demand Management
18
What do entrepreneurs do?
Bring goods/services to the consumer
Control middle management
Keep the economic environments strong
Commercialize new ideas/concepts
19
What are assets?
Money
Equipment
Buildings
All of the above
20
Which of the following is not an objective of HR:
Achieve organizational mission
Ensure commitment to their jobs / organization
Synergy
Achieving stric and rigid expectations for company success
21
Which one is not a skill or knowledge in management?
Agricultural Professional
Technical Expertise
People Skills
Critical Thinking Skills
22
Management of Functions: Who/what secures financial resources and implements the plan:
Directing
Controlling
Organizing
Staffing
23
Which of the following economic environments don't belong?
Agricultural economies
Developing economies
Subsistence economies
Industrial economies
24
What is the Economic Environment?
Economic factors that affect the company purchasing power
Economic factors that affect consumer purchasing power
Economic factors that affect consumer bargaining
Economic factors that affect consumer spending patterns
25
Which one affects the Macroenvironment?
The cultural environment
The political and social environment
The natural environment
The Technological environment
26
Chain of Commands: Which isn't part of the 3 Types of Management?
First Line Management
Bottom Management
Middle Management
Top Management
27
Microenvironents: Within the company, what doesn't belong?
Top Management
Purchasing
Outsourcing
R&D
28
What's the Macroenvironment?
The large side of business practices
The smaller side of business practices
Large societal forces that affect the Macroenvironment
Actors close to the company that affect its ability to serve
29
What is Human Resources?
Part of a company focused on hiring / allocation resources
Part of a company focused on activities relating to workers
None of the above
Part of a company that uses humans as resources
30
What's the difference between a need and a want?
Choice vs Decision
Risk vs Investment
Necessity vs Desire
Addiction vs Relief
31
What is Risk & Return
Gamble only the riskiest decisions
Taking a risk in order to gain a return
Invest only in safe bets
Save up to avoid costs
32
What is an entrepreneur?
Those who start a business
Those who invest in a business
Those who take over a business
Those who end a business
33
Microenvironment: What provides resources need by the company to produce its goods/services?
Competitors
Marketing Intermediaries
The Company
Suppliers
34
Management of Functions: Who/what recruits the best people possible for the tasks:
Directing
Staffing
Planning
Organizing
