2.1 Questions
Which type of business takes resources from nature to make its products? Name several examples.
Producers take resources from nature to make its products. There are two sub-categories in the producer category; extractors and manufacturers. Extractors are the ones who take the source directly from nature. Examples of extractors are Marathon Oil Company and Exxon Mobil Oil Company. Examples of manufacturers are Ford and EcoSense Lighting. Producers are crucial to the business market because they are the foundation for businesses to operate. Why is raising capital critical to success of a business?
Raising capital is critical for success in not only business, but in life in general. First of all, capital is money. If a business doesn 't have capital, it is not a successful business. Also, capital opens up opportunities: more business growth, recognition, and, most importantly, being the threat in the business market. A large amount of capital helps secure the business, in case of economic downfall. If you were to start any one of three types of businesses, and had access to all the resources needed, what kind would start and why?
If I were to start any one of the three types of business, I would start a service business. First of all, service businesses are the easiest to start, operate, and maintain. Technically, I could start a service …show more content…
These activities include: planning, organizing, staffing, leading, and controlling. During planning, managers think, gather, and make decisions. Next is organizing, where they assign work and observe employees. Staffing follows organizing, where managers supervise and reward employees. Leading is the most important in my opinion, where managers direct employees. Lastly, there is controlling, where managers compare what has been accomplished to the amount of planning that was done. A business would not be successful if a manager didn’t do these
Which type of business takes resources from nature to make its products? Name several examples.
Producers take resources from nature to make its products. There are two sub-categories in the producer category; extractors and manufacturers. Extractors are the ones who take the source directly from nature. Examples of extractors are Marathon Oil Company and Exxon Mobil Oil Company. Examples of manufacturers are Ford and EcoSense Lighting. Producers are crucial to the business market because they are the foundation for businesses to operate. Why is raising capital critical to success of a business?
Raising capital is critical for success in not only business, but in life in general. First of all, capital is money. If a business doesn 't have capital, it is not a successful business. Also, capital opens up opportunities: more business growth, recognition, and, most importantly, being the threat in the business market. A large amount of capital helps secure the business, in case of economic downfall. If you were to start any one of three types of businesses, and had access to all the resources needed, what kind would start and why?
If I were to start any one of the three types of business, I would start a service business. First of all, service businesses are the easiest to start, operate, and maintain. Technically, I could start a service …show more content…
These activities include: planning, organizing, staffing, leading, and controlling. During planning, managers think, gather, and make decisions. Next is organizing, where they assign work and observe employees. Staffing follows organizing, where managers supervise and reward employees. Leading is the most important in my opinion, where managers direct employees. Lastly, there is controlling, where managers compare what has been accomplished to the amount of planning that was done. A business would not be successful if a manager didn’t do these