100 Words each
Q1) In business strategy creates something. What is the purpose of a business’ strategy and why is it important?
Q2) How does differentiation create a competitive advantage?
Q3) One of the main leadership traits I was taught years ago is “Know yourself and seek self improvement.” That’s basically what this concept is about. However, how does a business do this?
Q4) The goal of managers of a business is to grow the business and increase profits. What are business ethics and how should they be instituted to ensure the business is operated in a proper manner to achieve long term growth?
Q5) Managers have a fiduciary responsibility to investors. That means they need to make sure that the investors financial interests in the firm are looked after. In order to do that – management must act in the best interest of the businesses long term goals. Sometimes decisions for long term success could affect a manger’s short term financial interests – like a bonus. Would it be ethical to make that decision that hinders the long term growth for my personal gain?
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