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Business in Action

In: Business and Management

Submitted By CissyGao
Words 300
Pages 2
Chapter 1 Questions for Analysis

1-10: I think a downturn in the economy does not hurt all companies equally because some companies actually gain benefits from the downturn period. Lawyers are the best example to support my answer. During the recession period, there are lots of legal problems happened so lawyers are hired to deal with those problems. Some investment companies also gain benefits from the downturn. They can buy stocks with lower prices during recession period and then sell them out after the downturn is gone.

1-11: Information technology is the technology of computers, telecommunications and other devices that integrate data, equipment, personnel and problem solving methods in planning and controlling business activities. It provides the means for storing, encoding, processing, analyzing, transmitting, receiving, and printing text, audio or video information. Information technology specialists must understand business to build better devices or programs to make business better.

1-12: Yes. Managing a business in ways that reflect society’s core values is always ethical. Core values of an organization are those values people hold form the foundation on which people perform work and conduct themselves. The core values are the basic elements of how people go about their work and they are the practices people use every day in everything they do.

1-13: Business skills are critical in organizations that are tasked with crating social as well as economic value. These skills are instrumental in developing the organizational system and structures that will ensure employees, funders, suppliers, volunteers and other constituents engaged with the mission of the organization. Social entrepreneurship is the attempt to draw upon business techniques to find solutions to social problems. Business skills help social entrepreneurs to know about the business...

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