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Chapter 9 Terms Business Cycles Unemployment and Inflation

Business cycles Recurring increases and decreases in the level of economic activity over periods of years; consists of peak, recession, trough, and expansion phases. Peak The point in a business cycle at which business activity has reached a temporary maximum; the economy is near or at full employment and the level of real output is […]

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Chapter 9 study guide! Intro to business!

scholarships, student loans, and work study options are all types of financial aid programs true abilities are natural, inborn aptitudes to do specific things false work-related experience can be gained through volunteer and school activities true informational interview help you learn about specific careers by talking to workers TRUE an experience-based resume highlights your abilities […]

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CHAPTER 9: ORGANIZATIONAL CHANGE AND BUSINESS PROCESS RE-ENGINEERING

Organizational commitment plays an important role in: ERP implementation. __________ must be committed from the beginning of the process to the end of the system implementation. higher-level management Change management focuses on gathering all the benefits of the people involved in the change and it will also reduce the risk of failure during ERP implementation. […]

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Chapter 9 E-Business and E-Commerce

Electronic Commerce (e-Commerce) the process of buying, selling, transferring, or exchanging products, services, or information via computer networks,including the internet. Electronic Business (e-business) in addition to the buying and selling of goods and services, e-business (a broader concept) refers to servicing customers, collaborating with business partners, and preforming electronic transactions within an organization Unique Features […]

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Chapter 9 – Business Cycles, Unemployement, and Inflation

Underlying cause of business cycle fluctuations? – Unexpected financial bubbles that eventually burst. – Shocks to the money supply by the nation’s central bank. – Supply shocks caused by major innovations. How can the annual rate of inflation be found? By subtracting last year’s price index from this year’s price index and dividing the difference […]

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Chapter 8 Study- Intro to Business

A tall organization structure consists of multiple levels of management. TRUE A(n) __________ consists of one person at the top of the organization and many levels of managers who are responsible to that person. hierarchy According to the Adapting to Change box titled “When Open Communication Should Not Be So Open,” France is considering legislation […]

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CHAPTER 8 – Organizing the Business Enterprise

organizational structure *the specification of the jobs to be done within a business and how those jobs relate to one another* – every institution must develop the most appropriate structure for its own unique situation organization chart a physical depiction of the company’s structure showing employee titles and their relationship to one another chain of […]

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Chapter 8 business structures part 1

Business organization an establishment formed to carrt on commerical enterprise. Company or firm, and most common form is a sole proprietorship Sole Propiertorship business owned and managed by an individual, responbible for ALL debts, most are SMALL SOLE PROPRIETORSHIP percentage in business 75% SOLE PROPRIETORSHIP percentage in sales 6% SOLE PROPRIETORSHIP requirement 1 Authroization: Business […]

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Chapter 8 – Business Organization

Business Organization an establishment formed to carry on commercial enterprise (company or firm) Sole proprietorship A business owned and managed by a single individual What is the most common form of business? Sole proprietorship What percent of businesses are sole proprietorships? What percent of sales do they generate? 75% 6% Steps of starting up a […]

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Business-Government Relations

1. In December of 2008, Canada authorized emergency loans for automotive companies. A) True B) False True 2. The “Group of 7” met in April 2009 and committed $1.1 dollars to loans in an attempt to stave off a world depression A) True B) False False 3. A cooperative government-business relationship on one issue does […]

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chapter 8 business fund. review

true most jobs today require at least a high school degree false computers and technology are drastically changing white-collar jobs, but they have not yet had an impact on blue-collar jobs to any degree true human resources are the people who work for a business true a full-time employee regularly works a schedule of at […]

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Chapter 8: Business Cycles

One of the first organizations to investigate the business cycle was the National Bureau of Economic Research. The trough of a business cycle occurs when _____ hits its lowest point. aggregate economic activity The low point in the business cycle is referred to as the trough. When aggregate economic activity is increasing, the economy is […]

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chapter 8 business

According to the text the key to success for organizations is According to the text the key to success for organizations is remaining flexible and adapting to the changing times. Often that means going back to basic organizational principles. describe division of labor Division of labor refers to dividing up tasks among workers describe job […]

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Chapter 7- The Business Plan: Creating and Starting the Venture

Business Plan Written document describing all relevant internal and external elements and strategies for starting a new venture The Business Plan is important to those people because It helps determine the viability of the venture in a designated market; It provides guidance to the entrepreneur in organizing his or her planning activities; It serves as […]

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Chapter 7: Conversion Business Process – AIS

Finished Goods Inventory The inventory that has completed the manufacturing process and is held for sale to customers Labor Operations Event In the conversion process, an event that represents the recording of labor costs applied to work-in-process Production Operations Event In a UML class model of the conversion process, an event that records the authorization […]

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Chapter 7 Business Structures

Partnership an ordinary partnership may be organized easily and cheaply, whereas a corporation must be organized in accordance with specific statutory procedures and must have sufficient capitalization. A partnership generally is burdened less than a corporation by government supervision and reporting requirements. The owners have unlimited liability, similar to a sole proprietorship owner. Joint Venture […]

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Chapter 7–Business Ethics Fundamentals

Ethics & the Law (a) law often represents an ethical minimum, (b) law reflects society’s codified ethics, and (c) ethics often represents a standard that exceeds the legal minimum; {“Just because something is legal does NOT mean that it is ethical”} Ethical Responsibility the ethical responsibilities of business as expected by the general population and […]

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Chapter 6 The Business Plan

business plan A document that presents the basic idea for the venture and includes descriptions of where you are now, where you want to go, and how you intend to get there. comprehensive plan A full business plan that provides an in-depth analysis of the critical factors that will determine a firm’s success or failure, […]

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Chapter 6 Intro. to Business

Sole Proprietorship a business owned by one person Advantages of a Sole Proprietorship easy to start, run company without needing approval from someone else, keep all profits, income taxes usually lower than a corporation’s Disadvantages of a Sole Proprietorship unlimited liability, hard to get bank loans, many fail, may not have a skills necessary to […]

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Chapter 6 Global Business

The reasons a government may nationalize a firm include: A. to extract more money from the firm. B. to increase the firm’s profitability. C. to preserve jobs. D. all of the above. E. two of A, B, and C. D. all of the above. The reasons a government may nationalize a firm include: A. to […]

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Chapter 6 Business Test

The process of starting, organizing, managing, and assuming the responsibility for a business is called capitalism. false Everyone who owns a business is an entrepreneur. false In the United States, nearly as many small businesses close as begin each year. true U.S. businesses with just a single owner and no staff acount for over $600 […]

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