MIE201 Chapter 1 Questions With Solutions 100% Solved
1 view 0 purchase
Course
Mie 201
Institution
Mie 201
MIE201 Chapter 1 Questions With Solutions
100% Solved
Goods-producing businesses Companies that create value by making "things" most of which are
tangible(digital products such as software are a notable exception).
Service businesses Companies that create value by performing activities that d...
MIE201 Chapter 1 Questions With Solutions
100% Solved
Goods-producing businesses Companies that create value by making "things" most of which are
tangible(digital products such as software are a notable exception).
Service businesses Companies that create value by performing activities that deliver some
benefit to customers.
Barrier to Entry Any resource or capability a company must have before it can start competing in
a given market.
Goods Producing businesses are often.... Capital intensive
Service businesses are.... labor intensive
Businesses Contribute to society positively by... 1. Offering valuable goods and services
2. Providing employment
3. Paying taxes
4. Contributing to national growth, stability and security
, MIE201 Chapter 1 Questions With Solutions
100% Solved
Businesses Contribute to society negatively by..... 1. Generating pollution and creating waste
2. Creating health and safety risks
3. Disrupting communities
4. Causing financial instability
Social entrepreneur People who apply entrepreneurial strategies to enable large scale social
change, use business concepts as well.
Social Environment Trends and forces in society at large
Stakeholders Internal and externals groups affected by a company's decisions and activities.
Technological environments Forces resulting from the practical application of science to
innovations, products, and processes.
Disruptive Technologies Technology that fundamentally change the nature of an industry can be
powerful enough to create or destroy entire companies.
, MIE201 Chapter 1 Questions With Solutions
100% Solved
Economic Environment The conditions and forces that affect the cost and availability of goods
and services and labor and thereby shape the behavior of buyers and sellers.
Legal and Regulatory Environment Laws and regulations at local, state, national and even
international levels.
Marker environment A company's target customers, the buying influences that shape the
behavior of those customers, and competitors that market similar products to those customers.
Research and Development Functional area responsible for conceiving and designing new
products.
Information Technology Systems that promote communications and information usage through
the company or that allow companies to offer new services to their customers.
Operations Management Management of the people and processes involved in creating goods
and services.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller UpperClass. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
