Question 1

Identify and discuss challenges faced by local,regional,and national businesses.

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Question 2

Many of the concepts and strategies used to run a business can also be used to manage your day-to-day activities.Identify and discuss the major similarities between managing a business and managing your life.

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Question 3

How does the pace of technological change affect businesses,both positively and negatively?

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Question 4

What are some of the advantages and disadvantages of globalization for the U.S.economy?

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Question 5

Describe some of the most important economic factors a U.S.business should consider before setting up operations overseas.

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Question 6

Jocelyn and Jacob are considering opening several branches of their fashion design business in Italy,Germany,and Spain.What cultural issues should they consider before making a final decision?

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Question 7

John runs a chain of grocery stores in Colorado.He has just heard a weather report that a storm is headed for his area a few days from now.What should John do to ensure that the goods he needs for his stores are delivered despite the bad weather?

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Question 8

Assume that you are a business owner who has concerns about the impact of globalization.What is the most practical attitude for you to adopt regarding the trend toward increasing globalization?

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Quiz 1: Business Basics