Business Study guides, Class notes & Summaries

what is organization correct answersgroup of people working together to achieve a set of goals examples of organization correct answersworld health organization what is management correct answersa set of activities directed at an organizations resources with the aim to achieving organizational goals in an efficient and effective manner efficient correct answersusing resources wisely and in a cost effective way effective correct answersmaking the right decision and successfully i...

value correct answersrelationship between the price of a good/service and the benefits that it offers business correct answersany organization that provides goods/services in an effort to earn a profit profit correct answersmoney that a business earns in sales loss correct answerswhen a business incurs expenses that are greater than its revenue entrepreneurs correct answerspeople who risk their time, money, and other resources to start and manage a business industrial revolut...

team correct answersA group of people that work together manager led teams correct answers-manager is the leader -individual members have little autonomy self-managing teams correct answers-considerable autonomy -leader determines goals but team controls activities to complete goals cross-functional team correct answersa work team composed of individuals from various functional specialties virtual teams correct answersuse online communication to work together group cohesive...

C483 Principles of Management Study Guide Differentiation A company offers unique products in its industry to create a competitive advantage. Which type of strategy is the company using? Vertical Integration Happy Inc. is a leading provider of family entertainment and BCD is a broadcasting company with news, cable, and entertainment networks. Happy Inc. recently acquired BCD in hopes of boosting its primary business of family entertainment. Which type of corporate strategy is repr...

C483 Principles of Management Study Guide Differentiation A company offers unique products in its industry to create a competitive advantage. Which type of strategy is the company using? Vertical Integration Happy Inc. is a leading provider of family entertainment and BCD is a broadcasting company with news, cable, and entertainment networks. Happy Inc. recently acquired BCD in hopes of boosting its primary business of family entertainment. Which type of corporate strategy is repr...

WGU C483 - Principles of Management Accommodation A style of dealing with conflict involving cooperation on behalf of the other party but not being assertive about one's own interests Accountability The expectation that employees will perform a job, take corrective action when necessary, and report upward on the status and quality of their performance Accounting audits Procedures used to verify accounting reports and statements Acquisition One firm buying another Activi...

Business correct answersindividuals or organizations trying to earn a profit by providing products that satisfy people's needs. Products correct answersgoods or services with tangible and intangible characteristics that provide satisfaction and benefits. Profit correct answersthe difference between what it costs to make and sell a product and what a customer pays for it. Non-Profit Organizations correct answersengage in management, marketing, and finance to provide goods and servic...

WGU C483 - Principles of Management Ch 9 strategic alliance definition: a formal relationship created with the purpose of joint pursuit of mutual goals In a strategic alliance, individual organizations share administrative authority, form social links, and accept joint ownership. learning organization definition: an organization skilled at creating, acquiring, and transferring knowledge and at modifying its behavior to reflect new knowledge and insights Google, Toyota, and IDEO are...

Qualitative data correct answersWhen the data is categorical (attributes define the nature of data), frequency distributions, bar charts and pie charts are most useful Frequency Distribution correct answersTabular summary of data showing number of items in each of the several non-overlapping classes. In other words, it is simply the count of how many times certain item appears. Relative Frequency: (rf) correct answersThe fraction or proportion of items belonging to each class. Percen...

What is a sole proprietorship? What are the advantages and disadvantages? correct answersa business owned and usually operated by one person and the simplest form of business to enter, control, and leave advantages- ease of start ofup, pride of ownership, retention of all profits by the sole proprietor, flexibility and possible tax advantages disadvantages- unlimited liability, lack of continuity, lack of money, limited management skills, and difficulty hiring employees how does a partner...