Unit 3a

Question 1

What are the 6 types of natural resources?

Answer 1

Agriculture, Fishing & Trapping, Mining, Water, Fuel & Energy, Logging & Forestry

Question 2

What’s a primary industry?

Answer 2

Raw materials for conversion into commodities for
consumers. The 6 types of natural resources

Question 3

What are raw materials?

Answer 3

Ingredients that are transformed into
another product.

Question 4

What are the 4 factors of production?

Answer 4

Labour, Capital, Info, Management

Question 5

What’s the production process?

Answer 5

 PURCHASING
 PROCESSING
 QUALITY CONTROL
 GRADING (checking for size and quality
against fixed standards)

Question 6

How do you increase productivity?

Answer 6

 TRAINING
 CAPITAL INVESTMENT
 INVESTMENT IN TECHNOLOGY
 NEW INVENTORY SYSTEM

Question 7

What are the 8 functions of H.R?

Answer 7

labor market,
determining need for new employee,
application process and interview,
job training,
keeping good employees,
departures dismissals and retirements,
handling compensation,
health and safety

Question 8

What are the 4 management functions?

Answer 8

planning, organizing, leading, controlling

Question 9

what’re the 5 resources to manage?

Answer 9

Purchasing
Production
Marketing & Distribution
Research & Development (R&D)
Finance

Question 10

What’s the management hierarchy?

Answer 10

upper management (ceo, cfo coo) , middle management (managers) , lower-level management (team leaders)

Question 11

what’re the three leadership styles?

Answer 11

autocratic, laissez faire, democratic

Question 12

what is autocratic leadership?

Answer 12

Takes control of the situation
No employee participation

Question 13

what is laissez-faire leadership?

Answer 13

leaves employees alone to do their job

Question 14

what is democratic leadership?

Answer 14

Opportunities for employees to contribute to
decision making process

Question 15

what’s a team

Answer 15

A team is a group of people with
different skills

Question 16

what are three things managers do in relation to ethical behavior and management?

Answer 16

Managers need to be ethical role models

Managers need to consider the impact of
their business on the environment.

Managers need to consider the impact of
their business on the local community

Question 17

what’s teamwork

Answer 17

Teamwork is the ability of people to work
together for a common goal.

Question 18

what’re the 6 types of teams

Answer 18

committee, task force, cross functional team, self-managed work team, virtual team informal team

Question 19

pros of teamwork in companies?

Answer 19

Improved creativity
More information
Improved moral
Shared risk
Higher motivation
Improved decision making

Question 20

cons of teamwork in companies?

Answer 20

Some members may not work as hard
as others
Takes more time
Costs more
Decision may not get implemented
Personality conflicts

Question 21

what does swot stand for?

Answer 21

strength (internal), weaknesses (internal), opportunities (external), threats (external)