C1

• What is the purpose of business activity?

  To create goods and services for consumers
• What are the different types of business organizations?

  Corporations, partnerships, and sole proprietorships
• What are entrepreneurial characteristics?

  Risk-taking, innovation, and leadership
• How do business objectives impact decision making?

  They guide strategies and resource allocation
• What is the role of business in society?

  To provide goods, services, and employment
• What are marketing objectives?

  Goals set to guide marketing efforts
• What is market research?

  Gathering information about consumers and markets
• What are the two types of market research?

  Primary and secondary research
• What is segmentation in marketing?

  Dividing a market into distinct groups
• What does targeting involve in marketing?

  Selecting specific segments to focus on
• What is positioning in marketing?

  Creating a distinct image in consumers' minds
• What are the 4 Ps of the marketing mix?

  • Product
  • Price
  • Place
  • Promotion
• What is digital marketing?

  Using online platforms to promote products
• What are ethical considerations in marketing?

  Ensuring honesty and fairness in promotions
• What is the role of human resources in business?

  Managing employee recruitment and development
• What is recruitment in human resources?

  The process of attracting candidates for jobs
• What is selection in human resources?

  Choosing the right candidates for jobs
• What is training in human resources?

  Improving employees' skills and knowledge
• What is Maslow's theory of motivation?

  A hierarchy of needs influencing behavior
• What is Herzberg's motivation theory?

  Distinguishes between hygiene and motivator factors
• What are leadership styles?

  Different approaches to managing teams
• What are the types of organizational structures?

  • Hierarchical
  • Flat
  • Matrix
• What is communication in organizations?

  Sharing information among employees and management
• What is the production process?

  Transforming inputs into finished goods
• What is capacity utilization?

  The extent to which production capacity is used
• What is stock control?

  Managing inventory levels to meet demand
• What is lean production?

  Aiming to minimize waste in production
• What is quality management?

  Ensuring products meet certain standards
• How is technology used in operations?

  To improve efficiency and productivity
• What are sources of finance?

  Ways to obtain funds for business
• What is cash flow?

  The movement of money in and out of business
• What is a Profit and Loss Account?

  A financial statement showing revenues and expenses
• What is a Balance Sheet?

  A snapshot of a company's financial position
• What are financial ratios?

  Metrics used to assess financial performance
• What is break-even analysis?

  Determining when total revenues equal total costs
• How does the economic environment impact business?

  It influences consumer behavior and spending
• What are legal factors affecting business?

  Regulations like consumer protection and employment law
• What are environmental factors in business?

  Considerations like sustainability and ethics
• How do technological changes affect business?

  They can improve efficiency and create new markets
• What is globalization's effect on business?

  It increases competition and market opportunities