Understanding the Environment of Business - Identify emerging challenges and opportunities in business environment

5 important questions on Understanding the Environment of Business - Identify emerging challenges and opportunities in business environment

What are the three most important issues facing Canadian businesses?

1) The value of the Canadian dollar
2) A skilled labour shortage
3) The environment

Skills and resources with which an organization competes best and creates the most value for owners?

core competency

Strategy of paying suppliers and distributors to perform certain business processes or to provide needed materials or services

outsourcing
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An activity that adds value to some input, transforming it into an output for a customer?

process

Approach by which firms move away from department-orientated organization to process oriented, and cut across old departmental boundaries

business process management

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