Questions and Answers of BUSN10 Introduction To Business

Define business and discuss the role of business in the economy AppendixLO1
Explain the evolution of modern business AppendixLO1
Discuss the role of nonprofit organizations in the economy AppendixLO1
Outline the core factors of production and how they affect the economy AppendixLO1
Describe today’s business environment and discuss each key dimension AppendixLO1
Explain how current business trends might affect your career choices.AppendixLO1
Define economics and discuss the evolving global economic crisis AppendixLO1
Analyze the impact of fiscal and monetary policy on the economy AppendixLO1
Explain and evaluate the free market system and supply and demand AppendixLO1
Explain and evaluate planned market systems AppendixLO1
Describe the trend toward mixed market systems AppendixLO1
Discuss key terms and tools to evaluate economic performance AppendixLO1
Discuss business opportunities in the world economy AppendixLO1
Explain the key reasons for international trade AppendixLO1
Describe the tools for measuring international trade AppendixLO1
Analyze strategies for reaching global markets AppendixLO1
Discuss barriers to international trade and strategies to surmount them AppendixLO1
Describe the free-trade movement and discuss key benefits and criticisms AppendixLO1
Define ethics and explain the concept of universal ethical standards AppendixLO1
Describe business ethics and ethical dilemmas AppendixLO1
Discuss how ethics relates to both the individual and the organization AppendixLO1
Define social responsibility and examine the impact on stakeholder groups AppendixLO1
Explain the role of social responsibility in the global arena AppendixLO1
Describe how companies evaluate their efforts to be socially responsible AppendixLO1
Explain the importance of excellent business communication AppendixLO1
Describe the key elements of nonverbal communication AppendixLO1
Compare, contrast, and choose effective communication channels AppendixLO1
Choose the right words for effective communication AppendixLO1
Write more effective business memos, letters, and emails AppendixLO1
Create and deliver successful verbal presentations AppendixLO1
Describe the characteristics of the four basic forms of business ownership AppendixLO1
Discuss the advantages and disadvantages of a sole proprietorship AppendixLO1
Evaluate the pros and cons of the partnership as a form of business ownership AppendixLO1
Explain why corporations have become the dominant form of business ownership AppendixLO1
Explain why limited liability companies are becoming an increasingly popular form of business ownership AppendixLO1
Evaluate the advantages and disadvantages of franchising AppendixLO1
Explain the key reasons to launch a small business AppendixLO1
Describe the typical entrepreneurial mindset and characteristics AppendixLO1
Discuss funding options for small business AppendixLO1
Analyze the opportunities and threats that small businesses face AppendixLO1
Discuss ways to become a new business owner and tools to facilitate success AppendixLO1
Explain the size, scope, and economic contributions of small business AppendixLO1
Define accounting and describe how accounting information is used by a variety of stakeholders AppendixLO1
Identify the purposes and goals of generally accepted accounting principles AppendixLO1
Describe the key elements of the major financial statements AppendixLO1
Describe several methods stakeholders can use to obtain useful insights from a company’s financial statements AppendixLO1
Explain how the budget process can help managers plan, motivate, and evaluate their organization’s performance AppendixLO1
Explain the role of managerial accounting and describe the various cost concepts identified by managerial accountants AppendixLO1
Identify the goal of financial management and explain the issues financial managers confront as they seek to achieve this goal AppendixLO1
Describe the tools financial managers use to evaluate their company’s current financial condition and develop financial plans AppendixLO1
Evaluate the major sources of funds available to meet a firm’s short-term and long-term financial needs AppendixLO1
Identify the key issues involved in determining a firm’s capital structure AppendixLO1
Describe how financial managers acquire and manage current assets AppendixLO1
Explain how financial managers evaluate capital budgeting proposals to identify the best long-term investment options for their company AppendixLO1
Explain the role of financial markets in the U.S. economy and identify the key players in these markets AppendixLO1
Identify the key laws that govern the way financial markets operate and explain the impact of each law AppendixLO1
Describe and compare the major types of securities that are traded in securities markets AppendixLO1
Explain how securities are issued in the primary market and traded on secondary markets AppendixLO1
Compare several strategies that investors use to invest in securities AppendixLO1
Interpret the information provided in the stock quotes available on financial websites AppendixLO1
Discuss the objectives, the process, and the scope of marketing AppendixLO1
Identify the role of the customer in marketing AppendixLO1
Explain each element of marketing strategy AppendixLO1
Describe the consumer and business decision-making process AppendixLO1
Discuss the key elements of marketing research AppendixLO1
Explain the roles of social responsibility and technology in marketing AppendixLO1
Explain “product” and identify product classifications AppendixLO1
Describe product differentiation and the key elements of product planning AppendixLO1
Discuss innovation and the product life cycle AppendixLO1
Analyze and explain promotion and integrated marketing communications AppendixLO1
Discuss development of the promotional message AppendixLO1
Discuss the promotional mix and the various promotional tools AppendixLO1
Define distribution and differentiate between channels of distribution and physical distribution AppendixLO1
Describe the various types of wholesale distributors AppendixLO1
Discuss strategies and trends in store and nonstore retailing AppendixLO1
Explain the key factors in physical distribution AppendixLO1
Outline core pricing objectives and strategies AppendixLO1
Discuss pricing in practice, including the role of consumer perceptions AppendixLO1
Discuss the role of management and its importance to organizational success AppendixLO1
Explain key theories and current practices of motivation AppendixLO1
Outline the categories of business planning and explain strategic planning AppendixLO1
Discuss the organizing function of management AppendixLO1
Explain the role of managerial leadership and the key leadership styles AppendixLO1
Describe the management control process AppendixLO1
Explain the importance of human resources to business success AppendixLO1
Discuss key human resource issues in today’s economy AppendixLO1
Outline challenges and opportunities that the human resources function faces AppendixLO1
Discuss human resource planning and core human resources responsibilities AppendixLO1
Explain the key federal legislation that affects human resources AppendixLO1
Explain the basic elements of computer technology—including hardware, software, and networks—and describe key trends in each area AppendixLO1
Discuss the reasons for the increasing popularity of cloud computing AppendixLO1
Describe how data become information and how decision support systems can provide high-quality information that helps managers make better decisions AppendixLO1
Explain how Internet-based technologies have changed business-to-consumer and business-to-business commerce AppendixLO1
Describe the problems posed by the rapid changes in Internet-based technologies, and explain ways to address these problems AppendixLO1
Define operations management and describe how the role of operations management has changed over the last five decades AppendixLO1
Discuss the key responsibilities of operations managers AppendixLO1
Describe how operations managers face the special challenges posed by the provision of services AppendixLO1
Explain how changes in technology have revolutionized operations management AppendixLO1
Describe the strategies operations managers have used to improve the quality of goods and services AppendixLO1
Explain how lean and green practices can help both the organization and the environment AppendixLO1