Intro to Business (Ch.1 Homework)

Intangible products such as health care, insurance, and recreation ?

Services

(Snap for Seniors) Eve Stern as an entrepreneur who started a business to serve the growing number of older Americans. Snap for seniors lists housing providers and matches the elderly's needs for facilities.

Social

Aaron mentioned that iContact considers the needs of the community and the environment. Members of the community and environmentalists are considered some of iContact's ?

Stakeholders

Individuals and/or groups of people who stand to gain or lose by a business's policies and activities ?

Stakeholders

Financial health of society, measured by income and consumption of goods and services ?

Standard of Living

(Borders Booksellers) Borders booksellers struggled for years and eventually declare bankruptcy as consumers Increasingly turn to downloading books from the Internet rather than buying hard copies.

Technological

The ability to start and grow iContact was primarily based on the existence of the Internet. The Internet is considered a key part of the ?

Technological Environment

Allowing customers to search other Redbox kiosks for a particular movie is made possible by new ?1

Technology

A business should try to ___________________ the factors in the environment ?

Adapt to

Commercial activity engaged in as a means of livelihood or profit ?

Business

(Blackberry) When the BlackBerry phone system quit working, it affected 70 million customers. The customers turned to other cell phones which offered the reliable service business customers demand, at a lower price.

Competitive

Age, race, gender, religion, etc. are items included in the study of ?

Demographics

Statistical study of a population as to age, gender, income, education, etc. ?

Demography

___________ is the study of population in regards to its size, density, age, race, gender, income, etc. ?

Demography

iContact is committed to dealing sensitively to workers and customers from a wide variety of backgrounds and cultures. This is known as managing ?

Diversity

(Jeffries Roofing) Tom Jeffreys owns Jeffery's roofing company. And his proposal, Tom describes materials to be used and a price. When the customer signs the bed it becomes an affordable contract.

Economic & Legal

Enabling/authorizing lower-level employees to take action and make decisions ?

Empowerment

A person who risks time, energy, and money to start and manage a business ?

Entrepreneur

People like Ryan and Aaron who risk time and money to start and manage a business are called ?

Entrepreneurs

If you choose to start your own business and work for yourself, then you would be a(n) ?

Entrepreneurship

Although iContact now enjoys revenue over $10 million and expects that figure to double in the next year, it is not yet profitable. In order for iContact to make a profit, its revenues must exceed its ?

Expenses

If Redbox is successful at attracting customers to a location, then McDonald's could possibly realize ?

More Revenue

In China, Walmart has nearly doubled in size and "made in China" stickers are visible all over Walmart stores in United States.

Global

Any physical products offered by a business ?

Goods

The technology environment would include studies of ?

Information Technology

The end result if a business's expenses exceed the amount of money it earns during a given period ?

Loss

Organization that operates for the common good and not to generate individual wealth ?

Nonprofit Organization

Assigning business functions like accounting or production to outside organizations ?

Outsourcing

The amount of output per unit of input (i.e., labor, equipment) ?

Productivity

Financial benefit realized when the amount of revenue gained from a business activity exceeds its expenses ?

Profit

General well-being of individuals and societies, measured by indicators such as health care, leisure, clean air, etc ?

Quality of Life

Ryan and Aaron's business was able to thrive in America because of political freedom, natural environment, education, health care, leisure time, safety, and other benefits. In other words, they were able to thrive because of America's high ?

Quality of Life

Income received by an organization from its normal business activities ?

Revenue

The chance of losing time, money, reputation, etc. is known as __________. ?

Risk

The threat of loss due to some unforeseen internal or external occurrence ?

Risk