12 Questions
What is the main objective of companies, firms, and business organizations?
To meet consumer demands and generate profits
What is a key difference between tangible and intangible resources?
Tangible resources can be seen or touched, while intangible resources cannot
What is a unique challenge faced by startups?
Securing adequate financing while managing risk
What is an example of an intangible asset?
A copyright for a software program
What is a key characteristic of startups?
They are typically technology-oriented with high growth potential
What is the purpose of financial resources in an organization?
To acquire natural and human resources
What is the primary objective of a firm?
To generate profits
How can firms be classified?
Based on various criteria, including activity, legal entity type, ownership, and size
What guides management practices within firms?
Theoretical approaches
What do firms typically establish to provide a framework for their operations?
Values, vision, mission, and aims/objectives
What is a crucial aspect of a firm beyond economic goals?
Social responsibilities
What is the role of management in a firm?
To provide direction for the company and its employees
Test your understanding of business organizations, their objectives, and how they contribute to society. Learn about the resources they utilize and their impact on stakeholders.
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