05 May Prof Script – What Is Business?
Provide a 175-word response for each of the following using the business you have chosen. Include references where appropriate.
1. Discuss the the five elements of the business environment and how they impact the business you have chosen.
2. Review the four classes of consumer goods. Which one is used by the business you have chosen? Explain why.
3. Explain how brand equity and loyalty affect the business you have chosen?
4. Discuss break-even analysis and how it may differ if your business was a nonprofit.
Provide a 100+ word response for each of the following question – Include references where appropriate.
1 There are five elements discussed in this presentation. What are your initial thoughts to share about 1 or more of the five elements? To recap, here is a list of the five elements:
a. Economic and Legal Environment
b. Technological Environment
c. Competitive Environment
d. Social Environment
e. Global Business Environment
2 How outsourcing outside of the United States affects the American consumer. How smaller, local nonprofit organizations contribute to the community’s quality of life
3 Why human resource management is important to organizational goals of business.
4 How can being involved with volunteering through a nonprofit improve an applicant’s marketability?
5 Why is brand important to an organization’s business strategy?
6 What goes into the development of a new product, and how does that fit into a business’ strategy?
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