lessons

Question 1

What are the information management components?

Answer 1

Gathering, organizing, and analyzing

Question 2

Types of investments

Answer 2

Stocks, bonds, mutual funds

Question 3

What is marketing and promotion, what does it do/ why it’s important?

Answer 3

so u can get ur thing out there and get customers

Question 4

What are the types of business ownership?

Answer 4

Sole Proprietorship - owned by 1 person

Partnership - owned by 2 or more individual

Corporation - separate legal entity, ownership is divided into many small parts, run by a board of directors

Cooperative - Owned and controlled by the people who use its products, supplies or services, Known as user-owners

Franchise - Owners sell the rights to their business logo, name and brand to a third party

Question 5

Crisis management defined, stages approaching/ steps to it

Answer 5

Managing crises,

Pre crises, crises, post crises

Question 6

What are the types of business competition?

Answer 6

Direct competition, Indirect competition, replacement competition

Question 7

What are the types of economic resources?

Answer 7

Human resources, Technology, Natural resources, and
Capital (the resources companies use to purchase land, natural resources, and other capital goods.
the major physical assets individuals and companies need to operate)

Question 8

DECA roleplay order:

Answer 8

INTRODUCTION- mention/ restate positions

INTRODUCE THE PROBLEM

ROAD MAP- list out PI’s

PI CONTENT- talk about the solutions

CONCLUSION + QUESTION- emphasis solution, summarize main points

Question 9

What is a supply chain?

Answer 9

The path that goods move along to reach the final consumer, Involves various places, processes, people, and resources, Supply chains help businesses reduce costs and increase competitivity

Question 10

What’s the flow/order of supply chains?

Answer 10

Basic structure:
Supplier → Manufacturer → Wholesaler → Retailer → Final Consumer

Example:
Sheep farm → Textiles manufacturer → Wool clothing wholesaler → H&M → You

Question 11

SWOT purpose? why do businesses use it?

Answer 11

for business competition purposes, competitive analysis to analyze your competition (pricing, unique deals, reviews, marketing methods of competitors)

Question 12

SWOT abbreviated from what?

Answer 12

Strengths, Weaknesses, Opportunities, and Threats

Question 13

Direct competition, Indirect competition, replacement competition; explain all

Answer 13

1. trying to sell the same kinda thing
2. sell a different thing but have the same target consumer base
3. Different category and product but compete for customers

Question 14

specify [Pre crises, crises, post crises] more specificalLUUy ig

Answer 14

Pre-crisis: Signal Detection, Crisis Prevention

Crisis: Crisis Recognition, Crisis Containment

Post-crisis: Learn lesson, consider next steps, continue organizing and containing/preventing crises

Question 15

SCM requires a good workflow, to manage what are the categories you put supply chain structures into?

Answer 15

Supplier, Manufacturer — Product

Distributor — Information

Retailer, Consumer — Financial

Question 16

The 5 C’s of Communication

Answer 16

clear, concise, coherent, complete, courteous

Question 17

The 2 types of communication?

Answer 17

Written and verbal communication

Question 18

What are the different types of investment markets?

Answer 18

Primary (purchased directly from an issuer)
and
secondary (traded among investors)

Question 19

4 P’s of marketing

Answer 19

product, price, place, promotion

Question 20

Kinds of promotional methods

Answer 20

Advertising, public relations, Personal Selling, Direct Marketing, Sales Promotion, Word-of-Mouth

Question 21

REVIEW acronym to find reliable info

Answer 21

R: Relevance
E: Expertise of Author
V: Viewpoint of Author/Organization
I: Intended Audience
E: Evidence
W: When Published

Question 22

Types of capital

Answer 22

FIXED CAPITAL: Things needed to conduct ur business

VARIABLE CAPITAL: Costs that change overtime depending on state of business

CAPITAL GOODS: All physical assets used in the creation of goods and services

Question 23

Economical systems (Means by which countries and governments distribute resources, trade goods and services)

Answer 23

traditional, COMMAND/PLANNED, MARKET/PRIVATE, Mixed