Aice Business Review All Terms Study Guide Questions And Correct Answers

Primary Sector Business Activity {Ans: firms engaged in farming, fishing, oil extraction and all other industries that extract natural resources so that they can be used and processed by other firms.}Elton Mayo {Ans: theory on how to motivate workers to increase performance, used Hawthorne effect", assumed changing working conditions would increase workers performance (lighting, air temp)}Product positioning {Ans: the consumer perception of a product or service as compared to its competitors}Manager {Ans: responsible for setting objectives, organizing resources and motivating staff so the organization's aims are met.}equality policy {Ans: practices and processes aimed at achieving a fair organization where everyone is treated in the same way and has the opportunity to fulfill their potential}Secondary Research {Ans: the collection of data from second-hand sources; desk}