Business Awareness Questions

A business organized as a corporation is owned by its stockholders.

Debts owed by a business are referred to as Liabilities. Liabilities include all loans, outstanding expenses, mortgages, creditors, etc...

DMAIC refers to define, measure, analyze, improve, control phases.

The buying and selling of goods is called Trade. Trade is a part of business where goods and services are exchanged for mney and mainly to earn profit. Commerce is used to describe trade and all the other business activities and services which make trade possible like banking, insurance, transport and advertising.

Effective sales management begins with determining sales goals. Effective sales management stems from a success-oriented sales force that accomplishes its mission economically and efficiently.

Inclusive unionism is practiced mostly by industrial unions. The practice of a labor union of including as members all workers employed in an industry is called as Inclusive unionism.

Performance goals are used to measure productivity.