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TEST 1 Tutorials
Topic 1: The US Business Environment
1. Describe any THREE (3) external environments of business and discuss how these environments affect the success or failure of any organization. 2. Describe the different types of global economic systems according to the means by which they control the factors of production. 3. Show how markets, demand, and supply affect resource distribution in the United States. 4. Identify the elements of private enterprise and explain the various degrees of competition in the U.S. economic system. Topic 2 : Business Organization’s Aim & Objectives

1. Define small business, discuss its importance to the U.S. economy, and explain popular areas of small business. 2. Explain entrepreneurship and describe some key characteristics of entrepreneurial personalities and activities. 3. Discuss the trends in small business start-ups and identify the main reasons for success and failure among small businesses. 4. Explain sole proprietorships, partnerships, and cooperatives and discuss the advantages and disadvantages of each. 5. Explain the basic issues involved in managing a corporation and discuss special issues related to corporate ownership. Topic 3 : Nature of Management

1. Describe the nature of management and identify the four basic functions that constitute the management process. 2. Identify different types of managers likely to be found in an organization by THREE (3) level and any THREE (3) areas of management. 3. Describe any FOUR (4) basic skills required of managers. 4. Describe corporate culture and explain any TWO (2) ways a manager can communicate the corporate culture to its staffs.
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