Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Empresa > Primer Parcial > Flashcards

Primer Parcial Flashcards

1
Q

Decision-making organization involved in the process of using inputs to produce goods and/or to provide services

A

Business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Resources that a business uses in the production process

Examples: labour and raw materials

A

Inputs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

They are also known as products

A

Outputs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Term that can refer both to services and goods

A

Product

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Physical products

A

Goods

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Intangible products

A

Services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Basic necessities that a person must have to survive

A

Needs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

People or organizations that buy a product

A

Customers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Are the ones who actually use the product

A

Consumers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are the three types of products?

A

Consumer goods, capital goods, services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Products sold to the general public, rather than to other businesses

A

Consumer goods

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Physical products bought by businesses to produce other goods and/or services

A

Consumer goods or producer goods

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Functional areas of all businesses

A

Human resources, finance and accounts, marketing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Department responsible for managing the personnel of the organization

A

Human resources (HR)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Department in charge of managing the organization’s money

A

Finance and accounts

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Department responsible for identifying and satisfying the needs and wants of customers

A

Marketing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Sector of economy involved with the extraction, harvesting and conversion of natural resources

A

Primary sector

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Sector of economy involved in the manufacturing or construction of products

A

Secondary sector

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Sector of economy specialized in providing services to the general population

A

Tertiary sector

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Subcategory of the tertiary sector involved in intellectual, knowledge-based activities that generate and share information

A

Quaternary sector

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Refers to a shift in the relative share of national output and employment that is attributed to each business sector over time

A

Sectoral change

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Individual who plans, organizes and manages a business, taking on financial risks in doing so

A

Entrepreneur

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Describes the trait of business leaders who tend to be distinctive in their temperament, attitude and outlook who drive the business

A

Entrepreneurship

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Act of being an entrepreneur but as an employee within a large organization

A

Intrapreneurship

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Employee who thinks and acts as an entrepreneur within a section of the organization

A

Intrapreneur

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Are the four types of inputs or resources necessary for the production process

A

Factors of production

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Factors of production

A

Land, capital, labour, entrepreneurship

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

Natural resources used for production

A

Land

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

Physical and mental efforts of people in the production of a good or service

A

Labour

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

All non-natural resources used in the production of a product

A

Capital

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

Management, organization and planning of the other factors of production

A

Entrepreneurship

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

Lack of finance, cash flow problems, marketing problems, unestablished customer base, people management problems, legalities, production problems, high production costs, poor location, external influences

A

Problems a new business may face

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

Report detailing how a business sets out to achieve its goals and objectives. It helps to reassure financial lenders and financiers to make a more objective judgement regarding the business success

A

Business plan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

Sector in which the organizations are owned and controlled by private individuals and businesses, rather than by the government

A

Private sector

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

Sector in which the organizations are under the ownership and control of the government

A

Public sector

36
Q

Organizations that are wholly owned by the government are called…

A

State-owned enterprises

37
Q

Three main types of profit-based organizations are…

A

Sole traders, partnerships and limited liability companies

38
Q

Is an individual who runs and owns a personal business

A

Sole trader

39
Q

Few legal formalities, profit taking, being your own boss, personalized services and privacy are…

A

Advantages of sole traders

40
Q

Unlimited liability, limited sources of finance, high risks, workload and stress, limited economies of scale and lack of continuity are…

A

Disadvantages of sole traders

41
Q

Is a profit-seeking business owned by two or more persons

A

Partnership

42
Q

Owners who don’t actively take part in the running of the partnership but have financial stake in it are called…

A

Silent partners

43
Q

Financial strength, specialization and division of labour, financial privacy and cost-effective are…

A

Advantages of partnerships

44
Q

Unlimited liability, lack of continuity, prolonged decision-making and lack of harmony are…

A

Disadvantages of partnerships

45
Q

Are businesses owned by their shareholders

A

Companies (corporation)

46
Q

Individuals or other businesses that invest money to provide capital for capital

A

Shareholders

47
Q

Shareholders don’t lose personal belongings or more money than they invested if the company goes into debts

A

Limited liability

48
Q

Two types of limited liability companies are…

A

Private limited companies and public limited companies

49
Q

Company that can’t raise its share capital from the general public. Instead, shares are sold to private family members and friends. It have the letters “Ltd” after its name

A

Private limited company

50
Q

Company that is able to advertise and sell its shares to the general public via stock exchange. It carries the letters “PLC” after its name

A

Public limited company

51
Q

Raising finance, limited liability, continuity, economies of scale, productivity and tax benefits are…

A

Advantages of companies/corporations

52
Q

Communication problems, added complexities, compliance costs, disclosure of information, bureaucracy and loss of control are…

A

Disadvantages of companies

53
Q

Revenue-generating businesses with social objectives at the core of their operations

A

Social enterprises

54
Q

Three main types of for-profit social enterprises are:

A

Cooperatives, microfinance and public-private partnerships

55
Q

For-profit social enterprises owned and run by their members, such as employees or customers, with the common goal of creating value for their members by operating in a socially responsible way

A

Cooperatives

56
Q

Incentives to work, decision-making power, social benefits and public support

A

Advantages of cooperatives

57
Q

Disincentive effects, limited sources of finance, slower decision-making and limited promotional opportunities

A

Disadvantages of cooperatives

58
Q

Is a type of financial service aimed at entrepreneurs of small businesses, especially females and those on low incomes. It helps eradicate poverty

A

Microfinance

59
Q

Accessibility, job creation and social wellbeing are…

A

Advantages of microfinance

60
Q

Immorality, limited finance and limited eligibility

A

Disadvantages of microfinance

61
Q

Occur when the government works together with private sector to jointly provide certain goods or services

A

Public-private partnerships (PPP)

62
Q

Businesses run in a commercial-like manner but without profit being the main goal

A

Non-profit social enterprises

63
Q

This type of organizations use their surplus revenues to achieve their social goals rather than distributing the surplus as profits or dividends.
Examples: public libraries, state schools, museums, etc

A

Non-profit organizations (NPOs)

64
Q

Two types of NPOs are…

A

Non-governmental organizations (NGOs) and charities

65
Q

Is a non-profit social enterprise that operates in the private sector (not owned by the government)

A

Non-governmental organizational (NGO)

66
Q

Is a non-profit social enterprise that provides voluntary support for good causes. It raises funds from individuals and organizations to support a cause that is beneficial to society

A

Charities

67
Q

Social benefits, tax exemptions for NPOs, tax incentives for donors, limited liability, public recognition and trust are…

A

Advantages of charities

68
Q

Bureaucracy, disincentive effects, charity fraud, inefficiencies and limited sources of finance are…

A

Disadvantages of charities

69
Q

It outlines an organization’s aspirations (where it wants to be) in the distant future. Visualization of what success looks like

A

Vision statement

70
Q

Tends to be simple declaration of the underlying purpose of an organization’s existence and its core values. Not a distinct time frame, qualitative and gives sense of direction.

A

Mission statement

71
Q

Are the general and long-term goals of an organization. They are vague and unquantifiable statements

A

Aims

72
Q

Short-to-medium-term and specific targets an organization sets in order to achieve its aims. They are specific and quantifiable

A

Objectives

73
Q

Plans of action to achieve the strategic objectives of an organization

A

Strategies

74
Q

Short-term methods used to achieve an organization’s tactical objectives

A

Tactics

75
Q

Day-to-day methods used to improve the efficiency of an organization

A

Operational strategies

76
Q

Those that affect the business as a whole

A

Generic strategies

77
Q

Targeted at the long term goals of a business

A

Corporate strategies

78
Q

Short-term goals that affect a section of the organization. Specific goals that guide the daily functioning of certain departments or operations

A

Tactical objectives

79
Q

Longer-term goals of a business

A

Strategic objectives

80
Q

Are the moral principles that guide decision-making and strategy.

A

Ethics

81
Q

Are concerned with what is considered to be right or wrong, from society’s point of view

A

Morals

82
Q

Actions of people and organizations that are considered to be morally correct

A

Business ethics

83
Q

Are those that act morally towards their stakeholders, such as their employees and the local community

A

Socially responsible businesses

84
Q

Obligations of socially responsible business to act morally toward its stakeholders

A

Corporate social responsibility (CSR)

85
Q

Improved corporate image, increased customer loyalty, cost cutting and improved staff morale and motivation are…

A

Advantages of ethical behavior

86
Q

Compliance costs, lower profits, stakeholder conflict and ethics and CSR are subjective are…

A

Limitations of ethical behavior

Empresa (7 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions