11BUS U1T1 Flashcards

Front

What is the primary purpose of business creation in a market economy?

Back

To satisfy customer needs profitably and sustainably

Front

Which function is MOST directly responsible for turning inputs into finished goods or services?

Back

Operations management and process design

Front

Which visual best represents measuring performance in business as shown on the slide?

Back

Upward-trending bar chart graphic

Front

What is the main difference between revenue and profit?

Back

Revenue is total sales; profit is revenue minus costs

Front

A start-up wants to understand who will buy its product and why. Which activity should it prioritize first?

Back

Conducting market research on target segments

Front

Which topic examines how a company moves from startup through growth, maturity, and renewal or decline?

Back

Business life cycle

Front

Which area focuses on external and internal factors such as markets, competitors, and regulations affecting a firm?

Back

Business environment

Front

Which concept compares internal strengths and weaknesses with external opportunities and threats?

Back

SWOT analysis

Front

Which topic determines whether a firm operates as a sole trader, partnership, company, or cooperative?

Back

Legal ownership structures

Front

Which activity sets long-term direction by choosing goals, allocating resources, and aligning capabilities?

Back

Strategic planning