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Short answer – answering these questions

  1. Why are stakeholders important?
  2. What is the social environment impact on business?
  3. Explain the impact of the national debt on the global economy.
  4. Explain the relationship between supply, demand and equilibrium point.
  5. Explain the relationship between the GDP, the balance of trade and balance of payment.
  6. Why should nations trade with other nations?
  7. Explain at least four types of ways in which a company can get involved in global business.
  8. What is the difference between compliance-based an integrity-based ethics?
  9. Why is corporate social responsibility important?
  10. What is the company’s responsibility to its employees?
  11. Compare and contrast the different forms of business ownership, including advantages and disadvantages.
  12. What are the four functions of management?
  13. What is the difference between vision, mission statement, goals and objectives?
  14. What is the difference between strategic and tactical planning?
  15. What is a SWOT analysis and how is it used?
  16. What are at least three different ways in which an entrepreneur can raise money that DO NOTinclude getting a loan from a bank or borrowing money from family and friends? Include those that were discussed in class.
  17. What are at least three different types of places/spaces an entrepreneur can use as they are creating or starting their business? Include those that were discussed in class.
  18. What are the three requirements for production.
  19. Describe the difference between flexible manufacturing and lean manufacturing.
  20. How has CAD, CAM and CIM impacted the manufacturing industry?
  21. Describe the importance of facility location for manufacturers.
  22. Explain Maslow’s hierarchy of needs as it would relate to an organization.
  23. Explain the difference between McGregor’s Theory X and Theory Y on management perception of employees.
  24. Explain the difference between training and development.
  25. What are the benefits and challenges of flextime? Telecommuting? Job Sharing?
  26. Explain the various components of Human Resource Management.


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