Business shit

Question 1

International Business

Answer 1

Business affairs conducted across countries

Question 2

Access to market

Answer 2

Business or product enter a new market by selling stuff in a new country. Adapt or have a global product; Standardized item offered in the same form globally.

Question 3

Cheaper labour

Answer 3

stuff that’s cheaper to produce than usual. Higher profits; Biggest expense in a business

Question 4

Increased quality or quantity

Answer 4

More consumers or better ways to produce a product or service. Best parts from countries that specialize; International appeal equal more sales

Question 5

Access to resources

Answer 5

expand access to goods and services that may have not been available elsewhere.

Question 6

Product

Answer 6

Resources of a country determine what can and can’t be produced

Question 7

Price

Answer 7

Wages, materials, and taxes can vary depending on the country (someplaces are cheaper than others)

Question 8

Proximity

Answer 8

How close a country is to someone else can determine how business is done

Question 9

Preference

Answer 9

Certain countries specialize in specific products (reputation for quality; ex. rolex)

Question 10

Promotion

Answer 10

Popularity of a business

Question 11

Outsourcing

Answer 11

Having another and international business perform a job meant to be done in-house. Issues with this practice is loss of jobs, negative public image, and human rights issues. Best way to combat this is to connect with companies using healthy practices and monitoring their progress. Monitor work place environment to ensure no human rights issues are violated.

Question 12

Human right issues

Answer 12

Any sort of violation of human rights. Ex. child labour, physical abuse, forced confinement, excessive working hours. Having easy methods of communication between people can ensure transparency. Monitoring work environments can help identify faults in the system. Having teams specialize in human resources can allow people to seek outlets for recommendations on improving.

Question 13

Environmental degradation

Answer 13

loss of natural resources at a faster rate than nature can replenish. Ways to combat is to make sure resources are being used sustainably. Implementing rules can prevent overuse of natural resources and prevent degradation.

Question 14

Tariffs and why they’re good or bad

Answer 14

tax on imported goods which give advantage to domestic products. But they can also put a barrier around a country’s economy.

Question 15

Excise taxes

Answer 15

A type of tax charged on goods produced within a country, to the manufacturer I guess. I think this is so governments can still make money of businesses when the goods are not being imported.

Question 16

Trade surplus

Answer 16

sell more than you bring in

Question 17

Trade deficit

Answer 17

import more than you sell (export)

Question 18

Imports

Answer 18

Goods a country buys from other countries

Question 19

Exports

Answer 19

Selling goods to other countries.

Question 20

HR department

Answer 20

Set of people that coordinate activities involving a company’s employees. Study labour market (Skils, company needs, etc.) Provide training and retention programs.

Question 21

Unskilled

Answer 21

little training required (dishwasher)

Question 22

Semiskilled

Answer 22

some instruction required (cashier)

Question 23

Skilled

Answer 23

require training from experience or school (chef)

Question 24

Professional

Answer 24

highly trained (accountant)

Question 25

Why to keep employees as long as possible?

Answer 25

The time and work it takes to hire a new employee can be costly. It’s always better to keep existing employees than hire new ones. And even if the employee has familiarity in the field, there’s still going to be a learning curve that might hinder work.

Question 26

Importance of keeping good employees

Answer 26

It’s a big investment for any company. Good employees are what mke a company great. They can keep a workplace productive, provide help to other employees and generally keep the place running smoothly.

Question 27

Compensation

Answer 27

the amount of money employees are paid

Question 28

Importance of health and safety

Answer 28

It can help reduce potential accidents and injuries in the workplace. It also helps company image. It’s easier for people to respect a business that values the wellness of its employees and workplace.

Question 29

Intrinsic motivation

Answer 29

you motivate yourself, benefit for yourself

Question 30

Extrinsic motivation

Answer 30

motivated by external thing (parents, money).

Question 31

Pros and Cons of outsourcing

Answer 31

Pros

• lower costs
• access to resources

Cons

• human rights issues
• loss of jobs
• negative public image