Week 1 revision Business Management

What is a business?

• 'Businesses can be privately owned, not-for-profit or state owned'

• 'Businesses can be privately owned and not-for-profit'

• 'Businesses can be privately owned or state owned'

• 'Businesses operate only for profit which can be privately owned, state owned or not-for-profit'

What is the driving force behind privately owned businesses?

What are the two main classifications of business?

• Profit and not for profit.

  Manufacturing and voluntary

• Profit and government.

  Manufacturing and service

• Profit and not for profit

  Manufacturing and service

• Profit and loss.

  Manufacturing and service

What is the main driver for employment in the Irish economy today?

• Agriculture

• Hospitality

• Overseas investment

• Construction

What do non-profit and voluntary organisations engage in...

• 'public or private interest without any commercial or monetary gain'

• 'public interest without any commercial or monetary gain'

• 'public interest without any monetary gain'

• 'private interest without any monetary gain'

What is the distinguishing feature of manufacturing?

• Production of tangible and intangible items such as cars, tvs

• Production of all items.

• Production of tangible items such as cars, tvs

What is the distinguishing feature of service organisations?

• Provides as service to the public

• Provide intangible services such as finance, insurance, tourism

• Provides tangible services such as finance, insurance and tourism.

What are the four distinct characteristic of a service?

• Intangibility, Perishability, Variability and Seperability.

• Intangibility. Inperishability. Variability and Inseparability

• Tangibility, perishability, variability and Invariabilty

• Intangibility, perishability , variability and Inseparability