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INTRODUCTION TO BUSINESS MANAGEMENT TEXTBOOK LATEST EDITION $6.53   Add to cart

Manual

INTRODUCTION TO BUSINESS MANAGEMENT TEXTBOOK LATEST EDITION

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Introduction to business management textbook latest edition

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  • May 30, 2018
  • 511
  • 2017/2018
  • Manual
  • Unknown

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Available practice questions

Flashcards 31 Flashcards
$5.99 1 sales

Some examples from this set of practice questions

1.

What is the role of business in society?

Answer: *Business involves human activities. Business organisations are managed by people. While businesses may own property, machines and money, all of these are managed or operated by people. *Business involves exchange. Businesses produce products and services, not for their own use, but to exchange for money or for other products and services. *Business involves profit. Few individuals or business organisations can continue producing products and services without earning a profit. Profit is the reward for meeting people’s needs, and it enables businesses to pay for resources and to make a living.

2.

Define corporate social responsibility

Answer: The voluntary compliance of businesses with practices that are sustainable.

3.

What is corporate social investment?

Answer: A business\'s direct and voluntary investment social causes and community upliftment.

4.

What is Employment Equity?

Answer: The notion that the composition of the workforce at all levels should reflect the composition of the community.

5.

List the elements of Maslow’s hierarchy of needs

Answer: 1. Self-realization needs 2. Esteem needs 3. Social needs 4. Safety needs 5. Physiological needs

6.

List Societies limited resources

Answer: Natural resources Human resources Capital Entrepreneurship

7.

Explain Natural Resources (also known as the production factor of land)

Answer: All resources nature puts at the disposal of mankind. (All natural resources including land but also processed and unprocessed products that are used as raw materials in the production process)

8.

Explain Human Resources

Answer: Include the physical and mental talents and skills of people employed to create products and services.

9.

Explain Capital

Answer: Its represented by the buildings, machinery, cash registers, computers and other products, produced not for final human consumption, but for making possible the further production of final consumer products.

10.

Explain Entrepreneurship

Answer: The creation of business ideas and the willingness to take risk; the act of creating, organizing, and managing a business.

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