Chapter 1 Concepts Flashcards
1
Q
What are the key business activities
A
- marketing and sales
- accounting and finance
- production and operations
- Human Resources
- research and development
2
Q
What are the ways companies offer variety?
A
- increasing quality
- increasing choice
- increasing convenience
- increasing health and safety
- increasing value for money
3
Q
Concerns of the impact of business on society
A
- health and safety risk
- environmental damage
- community impacts
4
Q
Five factors of the business environment
A
- Political
- Economic and competitive
- Social
- Technological
- International
5
Q
Parts of a business cycle
A
- contraction
- trough
- recovery
- expansion
- peak
6
Q
What is acting with integrity?
A
Being honest, ethical, and socially responsible
7
Q
Three components of business ethics
A
- Competing fairly and honestly
- Avoiding conflicts of interest
- Being transparent
8
Q
Factors that affect level of ethical behaviour in an organization
A
- individual factors
- social factors
- opportunity
9
Q
Triangle of ethics
A
- perceived pressure
- perceived opportunity
- way to rationalize decision
10
Q
Ways to promote ethical behaviour
A
- Demonstrate commitment form leadership
- Adopt code of ethics
- Designate ethics officer
- Protect whistleblowers
11
Q
Consumer rights
A
Right to safety
Right to choose
Right to be informed
Right to be heard
12
Q
4 common objectives of organizations
A
- control
- efficiency
- empowerment
- responsiveness
13
Q
Most common forms of departmentalization
A
- function
- product
- location
- customer
14
Q
What is the delegation process
A
- assign tasks
- grant authority
- assign accountability
15
Q
Considerations for organizational design
A
- objectives for efficiency, control, empowerment and responsiveness
- level of job specialization
- degree of centralization of authority
- span of management
