Bus82 test 3 LL3
1. Which of the following best summarizes the type of leader future organizations
are likely to need? In the future, organizations will need leaders who:
A) supply both a vision and a moral and ethical foundation for growth.
B) provide th
BASIC FORMS OF BUSINESS OWNERSHIP
A. About 500,000 new businesses are started in the U.S.
B. The form of business ownership can make a
difference in the success of the business.
C. The THREE MAJOR FORMS OF BUSINESS
1. A SOLE P
I.WORKING WITH PEOPLE IS JUST THE BEGINNING.
A. HUMAN RESOURCE MANAGEMENT is the process
of determining human resource needs and then
recruiting, selecting, developing, motivating,
evaluating, compensating, and scheduling employees
to achieve organization
MANUFACTURING AND SERVICES IN
A. MANUFACTURING AFFECTS THE U.S. ECONOMY
1. The 2008-2009 recession resulted in increased
unemployment and a dramatic fall in the stock
a. The U.S. is still in a leadership position.
b. The text uses t
THE DYNAMIC GLOBAL MARKET
A. THE IMPORTANCE OF INTERNATIONAL
1. Whereas there are over 300 million people in the
U.S., there are 6.7 billion potential customers in
2. U.S. customers buy billions of dollars in goods
I.MANAGERS ROLES ARE EVOLVING.
A. Managers get things done by using organizational
resourcesworkers, financial resources, information,
1. At one time, managers were called BOSSES, and
their job was to tell people what to do.
2. Today, manag
ETHICS IS MORE THAN LEGALITY
A. Recent scandals at WorldCom, Tyco, and ImClone
have focused attention on the subject of ETHICS.
1. What can be done to restore trust in the freemarket system?
a. Those who have broken the law need to be
Chapter 15 - Distributing Products
THE EMERGENCE OF MARKETING INTERMEDIARIES
A. THE IMPORTANCE OF DISTRIBUTION
1. There are hundreds of thousands of marketing intermediaries who help move goods through the
distribution network from producer
THE AGE OF THE ENTREPRENEUR
A. Today, young people will not have the traditional 30year career in one job.
B. This enhances the appeal of starting a small business.
C. Colleges are responding by offering more courses on
BUSINESS AND ENTREPRENEURSHIP:
REVENUES, PROFITS, AND LOSSES
A. BASIC CONCEPTS:
1. A BUSINESS is any activity that seeks to
provide goods and services to others while
operating at a profit.
2. PROFIT is the amount a business earns
above and beyond what
HOW ECONOMIC CONDITIONS AFFECT
A. The ability to find entrepreneurial funds is directly
related to a countrys wealth and its economic system.
B. Much of AMERICANS BUSINESS SUCCESS is due
to an economic and social climate that allows