personal rewards while also contributing to the welfare of society. 2. The term entrepreneur is understood in this text to refer only to founders of small businesses. 3. An owner-manager is a person who founds a new business. 4. According to the definition of entrepreneur given in Chapter 1‚ owner-managers who buy out founders of existing firms may be classified as entrepreneurs. 5. A mechanic who starts an independent garage can best
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A. i. Nature of Business Olam International is a global integrated supply chain manager dealing commodities. They hold leadership positions in agribusinesses such as coffee‚ cocoa‚ spices‚ nuts and rice. Also‚ they are the leading supply chain manager in industrial raw materials such as wood and cotton. ii. Company’s Background The Kewalram Chanrai Group established Olam in 1989 in Nigeria. Their initial objective was to secure
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MODULE 8 HOMEWORK ASSIGNMENT Module 8 Homework Assignment Brenda Pettibone Allied American University Author Note This paper was prepared for MGT 105‚ Module 8 Homework Assignment taught by Instructor Deborah Malenfant. HOMEWORK MODULE 8 1 1. There are many ways that a manager can tell if their firm needs improvement in their control. If for any reason the company is not working as successfully and is not thriving like it should‚ then action will need to be taken to improve their
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Case #1. Zipcar: Refining The Business Model The objectives of this case: The Zipcar case was developed to permit students to closely track the development and evolution of a company’s business model in the very early stages of its life. The case describes the development of Zipcar‚ a car-sharing service located in Boston‚ but with national ambitions. The case includes the very first version of a financial model for the business‚ a version that was developed after significantly more research
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Nouchee Lor Mrs. Kottke IB HL English 11 October 2012 Reflective Statement “He was of medium height. His shapely‚ slim figure and broad shoulders gave evidence of a strong constitution‚ capable of enduring all the hardships of a nomad life and changes of climates‚ and of resisting with success both the demoralizing effects of life in the Capital and tempests of the soul” (Lermontov pg. 50). A true man is a man who takes responsibility. He is a man who takes responsibility
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Economics IB past paper questions Structural questions 1. (a) “The price elasticity of demand and the price elasticity of supply for many primary commodities tend to be low.” Explain what is meant by this statement‚ and how this contributes to the problem of price instability for primary commodity producers. [10 marks] (b) Evaluate the view that it is best to allow primary commodity prices to be determined purely through the free interaction of market forces. [15 marks] 2. Explain what
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Define the term ”tertiary sector”: o Business activity firms that provide services to consumers and other businesses‚ such as retailing‚ transport‚ insurance‚ banking‚ hotels‚ tourism and telecommunications. 2 – Define the term “partnership”: o A business formed by two or more people to carry on a business together‚ with shared capital investment and‚ usually‚ shared responsibilities. 3 – Examine two arguments in favor of setting up the proposed UniFuture business: o Suyin has experience as a financial
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Unit five: Principles of supporting business events Assessment You should use this file to complete your Assessment. • The first thing you need to do is save a copy of this document‚ either onto your computer or a disk • Then work through your Assessment‚ remembering to save your work regularly • When you’ve finished‚ print out a copy to keep for reference • Then‚ go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly
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final exam 1. How can IT be used as a key driver of business value? The fascination with IT-enabled business innovation comes at a time of significant uncertainty and change as entrenched players and new entrants struggle to define a sustainable proprietary position for success in the turbulent twenty-first century. While most agree that Internet-based technologies have progressed at lightning speed since they were introduced to the business world in the early to mid-1990s‚ developing common s
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Distinguish between efficiency and effectiveness in management. (5 marks) Efficiency refers to being productive at work‚ to use resources – time‚ equipment‚ people‚ money‚ raw materials‚ etc.-wisely & cost-effectively. An efficient manager will strive to maximize productivity at work. Efficiency can be calculated by the formula: output/input. Effectiveness refers to making the right decisions & to successfully carry them out so that they achieve organizational goals. A manager can
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