Review of last class- Introduction to Business Administration
Business Administration Quiz
Test your knowledge on the foundational concepts of Business Administration with our engaging quiz. Cover topics such as planning, forecasting, and competitive environments that shape businesses today.
Prepare to:
- Assess your understanding of key business concepts
- Challenge yourself with diverse question formats
- Learn through engaging and interactive content
Mr. Clarke is analyzing the business environment. He states that overtime, new generations could have different tastes for particular products. Which environment was he assessing?
Social Environment
Competitive Environment
Technological Environment
One category of planning is?
Organizing
Forcasting
Delphi Method
Types of plans are:
Tight
Short-term plans
Breadth
The definition of planning:
Planning is the function that precedes all other managerial functions and is the foundation for the organizing, influencing, and controlling functions of managers
Controlling, planning, leading and organizing
Planning is the function that precedes all other managerial functions
Advantages of Planning are:
An overemphasized activity
Future-oriented
Good to have on company board meeting
List the two steps for Strategic planning
Strategic planning and Business analysis
Environmental analysis and Strategic implementation
Strategy formulation and optimization
Porters five force model looks at:
The financial operation of five organizational segments
Supplier power denotes the power that suppliers have over the firms operating in an industry.
Primary forces that determine competitiveness within an industry and illustrates how those forces are related
Strategic Planning – BCG Matrix, please define
Helps managers develop organizational strategy based on market share of businesses and the growth of markets
Technical Skills, Human Skills and Conceptual Skills
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