About This Chapter
Business Operations - Chapter Summary
In this chapter, learn about the inner workings of a business. Find out about store security management, inventory methods, insurance policies and cash control. You can also take a look at the factors involved in consumer credit approvals and denials. When you reach the end of the lessons, you should be able to answer questions about the following:
- Retail security management
- Warehouse shipping control procedures
- Credit's 5 Cs
- Risk management and insurance policies
- Globalization and outsourcing
- Cash control methods.
Our lessons are taught by well-informed instructors and feature print transcripts for easy reference to key terms and definitions. Each lesson takes about 5-6 minutes to watch and features fun animations and illustrations. Short, self-assessment quizzes follow each video and are handy for quickly checking your progress. You can view the lessons as many times as you need and can use the handy video tags to go back over select portions, besides.
1. Inventory Cost: Definition, Methods & Types
Have you ever thought about how much it costs a business to keep inventory in stock? It's not just the price the business pays for the items that it keeps in stock. It is so much more. In this lesson, we will discuss exactly what constitutes actual inventory cost.
2. Understanding Insurance Policies and Risk Management
Obtaining insurance is one of the most common methods of risk management. In this lesson, you'll learn about insurance policies and some key concepts related to insurance. You'll also have a chance to take a short quiz.
3. External Environmental Changes Drive the Need for Risk Management
Businesses operate in a dynamic world where the only thing for certain is that things will change. Change can bring both risk and reward. In this lesson, you'll learn how change in the business environment drives the need for risk management.
4. Globalization, Outsourcing & Insourcing: Impact of Technology on Careers
This lesson discusses the impact information technology has on careers. Globalization has been driven by advances in technology and has impacted job security and wages. We will specifically look at downsizing, insourcing and outsourcing.
5. Investment vs. Investments in Economics
Discover the important difference between investment in economics and investments that individuals make by saving out of their income. This lesson defines and outlines the basic components of gross private domestic investment.
6. Control of Cash: Definition & Methods
Cash is a valuable commodity and one that is vulnerable to fraudulent activity. In this lesson, you will learn what makes up a company's cash account as well as how to control cash.
7. What Is Gross Profit? - Definition, Formula & Calculation
When we think of the word profit, we often think of how much money was made for doing something. In the accounting industry, there is more than one kind of profit. In this lesson, we'll discuss what gross profit is and how it is calculated.
8. Resource Allocation in Management: Methods, Process & Strategy
Only so many resources are available, and a business must decide where to use them. In this lesson, you'll learn about resource allocation, the ideal method, and a typical allocation process. A short quiz follows the lesson.
Earning College Credit
Did you know… We have over 160 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the FTCE Marketing 6-12 (057): Test Practice & Study Guide course
- Marketing Careers and Employability
- Human Relations
- Marketing Mathematics
- Economic Principles
- Marketing Principles
- Sales Promotion
- Product and Service Technology
- Leadership and Management
- Work-Based Experiences
- Program Operation
- Financial Literacy
- FTCE Marketing 6-12 Flashcards