lessons Flashcards
What are the information management components?
Gathering, organizing, and analyzing
Types of investments
Stocks, bonds, mutual funds
What is marketing and promotion, what does it do/ why it’s important?
so u can get ur thing out there and get customers
What are the types of business ownership?
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
Crisis management defined, stages approaching/ steps to it
Managing crises,
Pre crises, crises, post crises
What are the types of business competition?
Direct competition, Indirect competition, replacement competition
What are the types of economic resources?
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)
DECA roleplay order:
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
What is a supply chain?
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
What’s the flow/order of supply chains?
Basic structure:
Supplier → Manufacturer → Wholesaler → Retailer → Final Consumer
Example:
Sheep farm → Textiles manufacturer → Wool clothing wholesaler → H&M → You
SWOT purpose? why do businesses use it?
for business competition purposes, competitive analysis to analyze your competition (pricing, unique deals, reviews, marketing methods of competitors)
SWOT abbreviated from what?
Strengths, Weaknesses, Opportunities, and Threats
Direct competition, Indirect competition, replacement competition; explain all
- trying to sell the same kinda thing
- sell a different thing but have the same target consumer base
- Different category and product but compete for customers
specify [Pre crises, crises, post crises] more specificalLUUy ig
Pre-crisis: Signal Detection, Crisis Prevention
Crisis: Crisis Recognition, Crisis Containment
Post-crisis: Learn lesson, consider next steps, continue organizing and containing/preventing crises
SCM requires a good workflow, to manage what are the categories you put supply chain structures into?
Supplier, Manufacturer — Product
Distributor — Information
Retailer, Consumer — Financial
The 5 C’s of Communication
clear, concise, coherent, complete, courteous
The 2 types of communication?
Written and verbal communication
What are the different types of investment markets?
Primary (purchased directly from an issuer)
and
secondary (traded among investors)
4 P’s of marketing
product, price, place, promotion
Kinds of promotional methods
Advertising, public relations, Personal Selling, Direct Marketing, Sales Promotion, Word-of-Mouth
REVIEW acronym to find reliable info
R: Relevance E: Expertise of Author V: Viewpoint of Author/Organization I: Intended Audience E: Evidence W: When Published
Types of capital
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
Economical systems (Means by which countries and governments distribute resources, trade goods and services)
traditional, COMMAND/PLANNED, MARKET/PRIVATE, Mixed
