What is business?

BUS 100 Textbook Notes Chapters 1-2

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Business
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University
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Easy
Arielle Sarah
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78 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An organization that is engaged in making a product or providing a service for a profit.
A theory that holds that all organisms are open to, and interact with, their external environments.
Refers to human beings and to the social structures they collectively create; specifically refers to segments of humankind, such as members of a particular community, nation, or interest group.
The closely intertwined relationships between business and society.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is society?
A theory that holds that all organisms are open to, and interact with, their external environments.
An organization that is engaged in making a product or providing a service for a profit.
Refers to human beings and to the social structures they collectively create; specifically refers to segments of humankind, such as members of a particular community, nation, or interest group.
The closely intertwined relationships between business and society.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is general systems theory?
The closely intertwined relationships between business and society.
A theory that holds that all organisms are open to, and interact with, their external environments.
Refers to human beings and to the social structures they collectively create; specifically refers to segments of humankind, such as members of a particular community, nation, or interest group.
An organization that is engaged in making a product or providing a service for a profit.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an interactive social system?
Refers to human beings and to the social structures they collectively create; specifically refers to segments of humankind, such as members of a particular community, nation, or interest group.
An organization that is engaged in making a product or providing a service for a profit.
A theory that holds that all organisms are open to, and interact with, their external environments.
The closely intertwined relationships between business and society.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is shareholder theory of the firm?
Their core arguments are: descriptive, instrumental, and normative
A theory that holds that the purpose of the firm is to create value for society.
A theory that holds that the purpose of the firm is to maximize its long-term market value. (Also known as ownership theory of the firm.)
A person or group that affects, or is affected by, a corporation’s decisions, policies, and operations. (See also market stakeholder and nonmarket stakeholder.)
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the three core arguments for the supporters of the stakeholder theory of the firm?
Many laws give protection to stakeholders
A person who exercises power on behalf of another
Their core arguments are: descriptive, instrumental, and normative
When a manager identifies relevant stakeholders to understand their interest and power, they may have to assert these interests
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the stakeholder theory of the firm?
A theory that holds that the purpose of the firm is to create value for society.
A person or group that affects, or is affected by, a corporation’s decisions, policies, and operations. (See also market stakeholder and nonmarket stakeholder.)
Managers must pay attention to their quarterly and annual financial performance
An organization that does the stakeholder analysis
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