Karteikarten
IB Business Management 1.1
Karten in diesem Stapel (19)
- 1What is a business?An organization that uses resources to meet the needs and wants of customers by providing products or service, TO EARN A PROFIT
- 2What are business inputs?The resources that a business uses in the production process.
- 3What are examples of business inputs?Capital (money and equipment), land, labor, enterprise
- 4What are business outputs?The final goods and services. Examples: phones, computers, haircuts
- 5What are consumer goods?Physical and tangible goods sold to the general public.
- 6What is the difference between durable and non-durable customer goods?Durable: cars, washing machines
Non-durable: food, drinks and sweets that can only be used once - 7Consumer servicesNon-tangible products that are sold to the general public
- 8Capital goodsphysical goods that are used by industry to aid in the production of other goods and services such as machines and commercial vehicles
- 9List the business functions (functional departments)production, marketing, finance and human resources
- 10What is human resource management?- identifies the workforce needs, recruits, selects and trains appropriate employees and provides motivational systems
-draws up contracts and covers redundancy of employees - 11What is finance and accounts?- monitoring the flow of finance into and out of the business
-providing financial information to both senior management and other departments - 12Marketing- market research, analyzing consumer wants and needs
- make important decisions concerning pricing, how and where to promote it and how to sell it and distribute it for sale - 13Operations management- the "production function"
- converting raw goods into finished products, providing services
- ensuring adequate resources, maintaining production and quality levels and achieving high levels of productive efficiency - 14What is an entrepreneur?An individual who takes the financial risk of starting and managing a new venture
- 15What is an intrapreneur?someone within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through 'entrepreneurial talent' such as risk-taking and innovation
- 16Characteristics of an entrepreneur & intrapreneur- innovative, committed and self-motivated, multi-skilled, leadership skills, belief in oneself, risk-taker
- 17Reasons for starting a businessGET CASH Mnenomic: Growth, Earnings, Transference & Inheritance, Challenge, Autonomy, Security, Hobbies
- 18Steps for starting a businesswrite a business plan, obtain start-up capital, obtain business registration, open a business bank account, marketing
- 19Problems that a new business may faceLack of finance, cash flow problems, marketing problems, unestablished customer base, lack of staff, legalities, production problems, high production costs, poor locations, external influences
Informationen
- Beschreibung
- Grade 12 Business Studies Karteikarten am IB Business Management 1.1, erstellt von One Fish Two Fish am 18/01/2020.
- Erstellt von
- One Fish Two Fish
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