Enterprise Organization Business Company

Question 1

Enterprise Organization Business Company is a ____ working together towards an agreed ___, utilising different resources (financial, physical, supplies etc) to ___ and then ___ or ___ either a ___ or ___ for the local (or global) population (i.e. customers to consume

Answer 1

Group of people
Purpose
Produce
Sell or provide
Service
Product

Question 2

Types of businesses

Answer 2

Service business
Merchandising business
Manufacturing Business

Question 3

A business that provides intangible products, i.e. talent, skills (expert) knowledge of the service proviser

Answer 3

Service business

Question 4

Service business examples

Answer 4

Professionals
Doctors
Consultants

Lawfirms
Accounting firms
BPO

Question 5

A business that buys (at cost) and sells (at a markup) physical products

Answer 5

Merchandiaing business

Question 6

Merchandising business example

Answer 6

Retailers
Super markets
Groceries

Car dealers
Resellers
Distributors

Question 7

A business that buys raw materials to manufacture a physical product (finished goods) and sells it

Answer 7

Manufacturing business

Question 9

Manufacturing business example

Answer 9

Companies that

manufacture food
Personal care products
Gadgets
Automobile
Housekeeping products

Question 10

A supply chain describes the __ of ____ and ___ from its __ to the end-users (i.e. ___) and involve the processes that tranformnraw materials into final products or services

Answer 10

Flow
Goods (or commodities)
Services
Source
Consumers

Question 11

The supple chain ___ the different___ of a business and ____ the ___ (i.e. management and resources) that will successfully sustain the flow

Answer 11

Affects
Aspects
Determines
Requirements

Question 13

describe how supply chain work

Answer 13

Supplies
Your Business = distributors, retailers/sellers, customers/consumers

Question 14

A business owned by an individual whobalso manages its operations

Answer 14

Sole proprietorship

Question 15

Business ownership forms

Answer 15

Sole proprietorship
Partnership
Corporation

Question 16

A business owned by 2 or more individuals who share both liabilities for and and the management of the company

Answer 16

Partnership

Question 17

Examples of partnership

Answer 17

Limited liability P (LLP)
Limited P (LP)
Limited Liability Limited P (LLLP)

Question 18

The true or original owners of the company share ownership of the entire enterprise with various stockholders and may or may not be involved in the management of the company

Answer 18

Corporations

Question 19

Examples of corporation

Answer 19

Limited Liability C (LLC)
S Corporation
B Corporation

Question 20

Management is the __ and ___ of performing ___ and ___ the following functions or processes

Answer 20

Art
Science
Effectively
Efficiently

Question 21

The art and science of performing effectively and efficiently the following functions or processes:

Answer 21

Planning
Organizing
Leading
Controlling

Question 22

-Creating the vision, defining the mission, setting goals
-Developing the specific actions or action plans to meet defined goals
-Determining needed resources

Answer 22

Planning

Question 23

-Motivating the people of the organization to work towards the vision, mission and specific departmenal goals of the company

Answer 23

Leading

Question 24

Core functional areas of management

Answer 24

Strategic management :

Human resouces management
Operations management
Marketing management
Financial management

Question 25

The effective synthesis of all functional areas that sustains the stabikity and growth of an enterprise

Answer 25

Strategic management

Question 26

Strategic management The effective ____ of all functional areas that ____ the ____ and ___ of an enterprise

Answer 26

synthesis Sustains Stability Growth

Question 27

-Monitoring activities and personnel -Auditing whether processes, activities and personnel are performing according to set standards -Correcting mistakes

Answer 27

Controlling

Question 28

-creating the functional structures of the firm -Creating teams, departments, business units -Designing the most effective processes and procedures Designing the most effective specific work functions

Answer 28

Organizing

Question 29

-Recruitment -Conpensation, benefits and rewards -Performanfe measurement Career development

Answer 29

Human resources management

Question 30

Hiring and keeping the best talent (i.e. manpower) Credentials management - inventory of required and available skills and knowledge

Answer 30

Recruitment

Question 31

Rewards and promotions

Answer 31

Performance measurements

Question 32

-Providing needed training -Continuous education and development

Answer 32

Career development

Question 33

Compensation, benefits and rewards

Answer 33

Human resources management

Question 34

Financial management

Question 35

Operation management

Question 36

Marketing management

Question 37

Corporate entrepreneurship

Answer 37

Infusion of entrepreneurial thinking into large bureaucratic structures (i.e., corporations, organizations)

Question 38

Also known as corporate innovation or intrapreneurship

Answer 38

Corporate entrepreneurship

Question 39

Infusion is achived by tapping and supporting the innovative talents of an organization's own workers and managers

Answer 39

Corporate entrepreneurship

Question 40

The thrust for corporate entrepreneurship The ____ is profoundly ___ compelling large established enterprises to reexamin their purpose

Answer 40

Global economy; changing

Question 41

The thrust for corporate entrepreneurship Earlier research concluded that entrepreneurship snd bureaucraties were ___. Today many researchers are all about the presence of entrepreneurial ventures within the entreprise framework

Answer 41

Mutually exclusive

Question 42

The thrust for corporate entrepreneurship ___ come from people. ____ is the capability of many. That ___ is utilized when people give ___ to the missions and life of the enterprise and are given the ___ to do something about their capabilities. ___

Answer 42

Ideas; innovation; capability; commitment; power; steven brandt

Question 43

The need for corporate entrepreneurship and innovation has arisen as a result of:

Answer 43

1. In contrast to previous decads, changes, and innovations, and improvements are noe very common in the marketplace. Thus, corporations must either innovate or become obsolete 2. Losing the brightest people to independent (or individual) entrepreneurship.

Question 44

The need for corporate entrepreneurship and innovation has arisen as a result of: 2. Losing the brightest people to independent (or individual) entrepreneurship. This due to following developments:

Question 45

Advantages of fostering a corporate entrepreneurship philosophy within an organization

Answer 45

It leads to development of new products and service that will help the organization to expand and grow It creates a workforce that helps the enterprise maintain it's competitive posture It promotes a climate conductive to high achievers which helps the enterprise motivate and keep it's best people

Question 47

The flow of commodities will depend on the type of business

Answer 47

Supply chain