Introduction to Business Chapter 1 (read summary in book) Businesses provide goods (tangible) and/or (services) to others while operating at a profit. Entrepreneurs risk time and money to start a business in order to make a profit. Higher risk means higher profit‚ because of the reduced competition. Businesses contribute to the standard of living (amount of goods and services people can buy with the money they have) and the quality of life (general well-being of a society in terms of its political
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Artificial Intelligence. Artificial Intelligence means that computers imitating human’s intelligent actions. Artificial Intelligence is a branch of Science which deals with helping machines find solutions to complex problems in a more human-like fashion. This generally involves borrowing characteristics from human intelligence‚ and applying them as algorithms in a computer friendly way. Artificial intelligence had been advanced for such a long time and still progressing rapidly. Today‚ in our real life
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Business Intelligence‚ 2e (Turban/Sharda/Delen/King) Chapter 1 Business Intelligence 1) When faced with a turbulent business environment‚ organizations are best able to survive or even excel by minimizing changes until the environment stabilizes. Answer: FALSE Diff: 2 Page Ref: 3 2) The management of Norfolk Southern‚ a large freight railroad company‚ invested in data warehousing technologies. Even though railroad transportation is a mature industry‚ Norfolk Southern gained a competitive advantage
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entry DA is one of the oldest airlines in the United States‚ however‚ there are still threats from new entrants in the market because low-cost carriers (LCC) definitely going to affect the pricing strategy of DA. In contrast‚ DA has brand loyalty due to its long history of operation. Moreover‚ the entry barriers are still high due to the operating cost such as aircraft‚ airport cost‚ maintenance‚ route licenses‚ and taxations. The threat of substitution Since the airline industry is serving passengers
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Imagine Widgets Airlines‚ Inc. operates 18-seat commercial flights between New York City and Washington‚ DC. After 10 seats have been sold on each aircraft‚ the company has reached the break-even point. Should Widgets consider offering a discounted fare for seats 11 through 18? Yes. Widgets Airlines‚ Inc. should offer a discount on the remaining seats. What are the advantages and disadvantages of not offering a discount on seats 11 through 18? The advantages of selling at a discounted price
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Business Ethics Summary Chapter 1 -‐ 5 Chapter 1: Introducing Business Ethics Business Ethics is the study of business situations‚ activities‚ and decisions where issues of (morally) right and wrong are addressed. -‐ Overlap between ethics and law. Law is essentially an institutionalization or
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Southwest Airlines Case Study 1. Company Overview Southwest airlines began in 1967 as a low-cost‚ low-fare‚ customer-friendly air service shuttling passengers between San Antonio‚ Dallas and Houston‚ Texas. Founded by Rollin King and Herb Kelleher‚ Southwest moved from a small commuter transport of 18 round trip flights within Texas to a bustling market share leader providing more domestic flights than any other airline within the industry. Within two years of its first flight the airline was able
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effectiveness support each other at Southwest? In what ways do they contradict each other? Ans. Southwest Airlines is one of the important Airline of USA. Southwest Airlines may only rank 317 on the Fortune 500 List but the company ranks highly on most publications’ Most Admired Companies lists. Efficiency means using resources wisely and in a cost effective way. The Southwest Airline exists point on behalf of the case. ✓ Southwest didn’t adopt the hub-and-spoke system ✓ It
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Summary – Chapter 1 starts with a young boy named Ralph‚ searching the area around him to find other life after their plane crash landed on a deserted island. Ralph eventually finds another boy with the nickname "Piggy" and they realize that are no adults and that they can’t find their plane. Then they decide to go to the shore to swim and Ralph tells Piggy that his dad will save them since he is in the navy but Piggy tells him that the pilot had told them that an atom bomb had gone off and everyone
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Theory of Continental Drift The seven continents used to be one giant continent named Pangea. They spread apart and became what the continents are today. The shapes of the continents line up‚ the fossils line up with how the continents‚ the rock formations on both sides of the Atlantic line up with the fossils and coastlines‚ and climatic evidence proves the Theory of Continental Drift. The first piece of evidence for Continental Drift is the shapes of the continents. All of the continents fit
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