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MGTA01H3 Lecture : Lecture 1 - What is a business

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School
UTSC
Department
Management (MGT)
Course
MGTA01H3
Professor
Chris Bovaird

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MGTA01H3 Full Course Notes
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MGTA01H3 Full Course Notes
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Document Summary

Lecture 1 chapter 1: definition of business . a b u si n e s s is a n o r g a niz e d effor t. S o m e b o d y h a s t o h a v e a n id e a a n d b e m o ti v a t e d. Ti m hor t o n s , micro s of t. Pr ovid e s c offe e , p r o d u c e s s of t w a r e. war n e r brot h e r; m a k e t h e m o vi e s. gm m a k e s a n d tri e s t o s ell u s c a r s.

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Related Questions

Labour includes: a) b) all the workers involved with the business only workers who do work directly to product or service only people who are not managers only employees who must be paid d)

Which of the following statements is true of business ethics?
Ā 
a)All business actions deemed unethical by society are necessarily illegal.
Ā 
b)Business ethics and personal ethics are synonymous.
Ā 
c)The acceptability of behavior in business is determined by not only an organization but also its stakeholders.
Ā 
d)Business ethics is independent of an organizational culture.
Ā 
e)Profit in business is the only glue that holds relationships together.

A diversified company's business units exhibit good financial resource fit when

A.the resource requirements of each business exactly match the company's available resources.

B.each business is a cash cow.

C.a company has the resources to adequately support the requirements of its businesses as a group without spreading itself too thin and when individual businesses add to a company's overall strengths. each business is sufficiently profitable to generate an attractive return on invested capital.

D.each business unit produces large internal cash flows over and above what is needed to build and maintain the business.