Business Essentials 3.01

A business can be described as a(n)

• Disorganized effort to produce goods and services

• Organized effort to produce goods and services

• Reasonable way to make a profit

• Unreasonable means for increasing

A business that exists to fulfill a specific mission or undertaking is called a business.

• Mission-central

• Focused

• For- profit

• Nonprofit

Every business must accomplish which of the following:

• Produce or provide goods/services

• Obtain venture capital

• Issue corporate bonds

• Trade or sell business assets/property

Which of the following represents a primary business activity:

• Scheduling

• Designing

• Marketing

• Supervising

Financial analysis occurs when a business

• Communicates with potential customers

• Keeps accurate expense records

• Plans for long-term success

• Effectively retrieves data

Within a local pizza ship, financial analysis is most likely used to

• Attract customers

• Oversee the baking process

• Obtain funding for supplies

• Develop the best recipe

Which of the following activities demonstrates human resources management:

• The business gives its preferred customers a special discount

• The business takes care of the responsibilities associated with having employees

• The business includes top-level managers in long-term planning

• The business acts on new information about a competitor

Janelle's Creative Supplies is opening an additional location on the other side of town. To successfully operate the new location, Janelle primarily needs

• New carpet and paint

• Extra free time

• More advertising spots

• Additional employees

Which of the following activities demonstrates information management:

• Storing and retrieving information

• Researching customers' needs

• Hiring appropriate employees

• Conducting employee evaluations

TeJuan's Fishing Shack demonstrates effective information managment by

• Accessing a list of fishing equipment appropriate for a particular customer

• Removing wasted materials from the process of providing goods to customers

• Promoting new fishing equipment in a popular trade magazine

• Hiring fishing experts to explain how to use the goods offered