BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

BUSINESS ENVIRONMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Cathy starts a mobile car detailing business. After some initial growth, she hires two workers to help her keep up with customer demand. Cathy supplies the materials (soap, wax, etc.) for the operation, which, in addition to paying the employees, constitutes her operating expenses. Cathy’s revenues exceed her expenses, and she donates 10% of her profits from her bank account to the local Humane Society. Is Cathy’s business a for-profit or nonprofit?
A
It is a nonprofit.
B
It is a Limited Partnership.
C
It is a for-profit.
D
It is a community service.
Explanation: 

Detailed explanation-1: -Product development teams are responsible for understanding customer needs, creating something new, and bringing it to market. Besides choosing what to build, they communicate the benefits and measure the performance of the product-crucial duties within any company.

Detailed explanation-2: -Operations. Operations is where inputs (factors of production) are converted to outputs (goods and services). Operations is like the heart of a business, pumping out goods and services in a quantity and of a quality that meets the needs of the customers.

Detailed explanation-3: -Internal stakeholders are groups or people who work directly within the business, such as managers, employees, and owners. Managers and employees want to earn high wages and keep their jobs, so they have a vested interest in the financial health and success of the business.

Detailed explanation-4: -External stakeholders are groups outside a business or people who don’t work inside the business but are affected in some way by the decisions and actions of the business. Examples of external stakeholders are customers, suppliers, creditors, the local community, society, and the government.

There is 1 question to complete.
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