Businesses & Global Marketplace Concepts Quiz

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Businesses need a specific set of goals and objectives to follow, derived from the organizational vision and mission. These decisions directly impact commerce and a firm’s ability to ______ or ______.

succeed, fail

A businesses’ vision statement is a description of what an organization hopes to accomplish long-term, generally in a two-to-ten-year timeline. The mission statement defines the type of business an institution is in, why it exists, and the purpose it serves. This helps in setting clear ______ and ______ for the organization.

goals, objectives

Comparing the characteristics of global economic systems is important in the global marketplace to understand the ______ and ______ of different economies.

strengths, weaknesses

The dynamic business environment impacts institutions by requiring them to adapt to changes quickly and efficiently to remain ______ in the market.

competitive

For-profit organizations tend to have more ______ than other entities, but have greater upside (reward) too.

risk

Tesla aims to earn revenues and is therefore referred to as a ______ firm.

for-profit

Higher risk can equal higher ______.

return

Government Business Enterprises (GBEs) are hybrid organizations that have both features of a ______ and a public institution.

business

A country’s structure that encompasses laws, policies, and procedures that have been set up by the government is its...a) Economic system b) Economy c) Policies d) ______

Procedures

Which of the following is an entity or activity that conducts unified sets of tasks and assets, and which can be managed with the intent of creating products or services for clients, investment income generation, or income generation from other typical tasks?a) Not-for-profit b) Business c) ______ d) ROI (return on investment)

Accounting

What economic system is predominantly run by the government and uses a centralized system?a) Capitalism b) Socialism c) ______ d) Mixed economy

Communism

HTTPS://WWW.YOUTUBE.COM/WATCH?V=Q1YW7TCHSC8 TRANSFER TASK PRESENTATION OF THE RESULTS Please present your results.The results will be discussed in plenary.LEARNING CONTROL QUESTIONS 1.Which of the following is an entity or activity that conducts unified sets of tasks and assets, and which can be managed with the intent of creating products or services for clients, investment income generation, or income generation from other typical tasks?a) Not-for-profit b) Business c) Accounting d) ROI (return on investment) LEARNING CONTROL QUESTIONS 2.A country’s structure that encompasses laws, policies, and procedures that have been set up by the government is its...a) Economic system b) Economy c) Policies d) Procedures LEARNING CONTROL QUESTIONS 3.What economic system is predominantly run by the government and uses a centralized system?a) Capitalism b) Socialism c) Communism d) Mixed economy LIST OF SOURCES Corporate Finance Institute (n.d.-a).Mission statement.https://corporatefinanceinstitute.com/resources/knowledge/strategy/mission-statement/ Corporate Finance Institute (n.d.-b).Vision statement.https://corporatefinanceinstitute.com/resources/knowledge/strategy/vision-statement/ NASDAQ Stock Exchange (2022).Tesla Inc.https://www.google.com/finance/quote/TL0:ETR?sa=X&ved=2ahUKEwiv4IS-mbH2AhWsk4kEHZSmBl8Q3ecFegQIERAc Tesla (2021).About Tesla.https://www.tesla.com/about/ © 2022 IU Internationale Hochschule GmbH This content is protected by copyright.All rights reserved.

Global economic systems

Test your knowledge on common business concepts in the global marketplace, economic business models, and the impact of the dynamic business environment on institutions. Study goals include understanding the importance of clearly defined goals, comparing global economic systems, and describing today's dynamic business environment.

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