1. What kind of stakeholders are there There are internal stakeholders and external stakeholders. So basically two kinds of stakeholders but both are considered being individuals who have a vested interest in a company. 2. What are the external factors affecting a business Basically there are numerous factors, for example economy and government regulations. 3. Define and explain some barriers to effective communication in business Some barriers to mention, jargon and chain of command. Jargon can basically be described when someone is saying something but isn´t really saying anything. Chain of command can be explained shortly with an example of chain employee – employer. 4. What are the stages of team development Explain what those are. Stages are forming, storming, norming, performing, and adjourning. Forming is when one is for example focusing on group identity or socializing. Storming if for example when one is having high emotions or having a conflict. Norming could be described as developing cohesion or having relief. Performing include demonstrations of interdependence or for example healthy system. Adjourning include a shift of process orientation or for example sadness of team and individual efforts. 5. List the types of business we have in Finland. (See also "Becoming an entrepreneur in Finland 2019") Private entrepreneur/Proprietorship, General partnership, Limited partnership, Limited liability company, Cooperative association and public limited company/corporation. 6. Why do some start-ups fail?List at least five reasons. Insufficient management experience or product/services expertise, Lack of self-awareness and related personal/professional development, Inability to manage growth, Inability to execute on the business concept and sometimes overdependence on a single customer. 7. What are the most essential financial statements called They are the Balance Sheet, Income Statement, Statement of Owners Equity, and Statement of Cash Flows. 8. Define a break-even point in your own words. A point where a business is starting to gain more profit than costs. 9. What does four P's mean/include in marketing They include Products, meaning the goods and services offered. Communication and information stand for Promotion. Distribution or delivery define the Place. And finally, when ensuring fair value in the transaction one has a Price. 10. What are target segments in marketing They are segments where buyers are split into measurable groups that share similar wants and needs. These groups can be segmented for instance by geographic, demographic, psychographic, and behavioral criteria. 11. What is supply chain management Give a brief definition in your own words.
Managing a chain where material or information is being transferred from one step to another, most of the times simultaneously into multiple directions. 12. Why is the structure of an organization important Because its a key factor how organization can react to internal and external forces. It gives everybody inside the organization tools to everyday work. 13. What kind of issues are dealt within human resource management Multiple issues are dealt. Controlling the human resource plan, managing the recruitment process, evaluating performances and modern day phenomenon like remote working brings bring challenges for human resource management.