INTRO TO BUSINESS Ton of economics questions: fiscal policy, monetary policy, fed reserve bank (structure), monopoly, tariffs, quota, embargo .... WTO. I had loads questions on finance (Business Plan/Strategic Plan)/Accounting (ex What do you look at to decide if you can purchase a john deere tractor. income statement, balance sheet). pro forma financial statements should be analyzed to ensure that all current debt covenants will be met. 1. What’s the Cash Flows: Is the movement of cash into or out of a business. 2. Liquidity is ...... turning assets into cash. 3. How would you use Short-term financing??? 4. How would you use Long-term financing?? Capital Purchases. 5. Leveraging 5,000 on a 10,000 contract….purchase price 9,000 what was the loss 1k, 4k, 6k, 24k. 6. on a 2/10 net 30 term how much is saved annually (ex 1% 10% 20% 24% ...)? 7. Know the process in which you assess and evaluate for preparing financial statements (Is this called auditing or what...????) 8. Know the Job in which you evaluate and assess financial statement (Is this accounting, auditing, or what .... ????) Business models (LLC, Sole Prop, Partnerships, Franchise) .... and the legal responsibilities thereof. 9. Small Businesses (ex How long does it take to write a good business plan .... 1, 3, 6, 9 mos). 1 or 2 Quality and Environment questions. Minimal HR questions (orientation, EEO). 10. Management (what type of manager spends the majority of the day supervising? middle manager, line manager...????). Office systems: Know what each system is used for. All three were on the test. 11. Microsoft Office: 12. CD-ROM: 13. Main memory: 14. Marketing...4 P's. 15. OSHA (fine for serious business violation or for a recurring incident companies can be fined up to: ex.. $100, $1000, $10000, $100000). also some Ethics stuff thrown in. 16. Who do you call to complain about hazardous consumer products? FDA, Off Attny General, OSHA,... ??? 17. If you worked for a pharmaceuticals company and the company decides to donate money to a charity
INTRO TO BUSINESS that deals with healthcare what would this be considered .... corporate philanthropy, corporate social activities, corporate social responsibility .... ???? Know the difference between stakeholders. Who are internal stakeholders and meeting the needs of external stakeholders. Internal Stakeholders : Market (or Primary) Stakeholders are those that engage in economic transactions with the business. (For example stockholders, customers, suppliers, creditors, and employees) External Stakeholders : NonMarket (or Secondary) Stakeholders are those who - although they do not engage in direct economic exchange with the business - are affected by or can affect its actions. (For example the general public, communities, activist
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