Business Essentials Final Review

Front

One benefit of a competitive analysis is to better understand: your strengths and weaknesses, your suppliers’ intellectual property (I.P.), your competitors’ strengths and weaknesses, government regulations

Back

your competitors’ strengths and weaknesses

Front

Consumers have the most buying power with this type of market model.

Back

pure competition

Front

The U.S. economy is built on the economic system called ___________.

Back

capitalism

Front

Business is about ___________ managing business functions.

Back

people

Front

A company’s purpose, reason for being, and problem it is solving is its:

Back

mission

Front

Inspiring, motivating, influencing and maximizing the efforts of people towards a common purpose is:

Back

leadership

Front

The shared beliefs, values, goals, attitudes, and behaviors of a company’s employees is the:

Back

company culture

Front

A route or plan of action designed to achieve certain goals and objectives is known as which of the following?

Back

strategy

Front

Mission is a company’s purpose, and strategy is the _____?

Back

how

Front

A specific procedure or action used to support strategy in order to achieve goals and objectives is known as which of the following?

Back

tactic