Q: What is

Notes

Q: What is a vision statement? A: An organization’s long-term, aspirational goal of what it wants to become. Q: What is a mission statement? A: A clear declaration of an organization’s purpose and core values. Q: What is incorporation? A: The legal process that creates a separate legal identity for a business. Q: What is a deed of partnership? A: A legal contract that outlines the roles, responsibilities, and profit-sharing agreements between partners. Q: What is a cooperative? A: A business owned and operated by its members for mutual benefit. Q: What is a stakeholder? A: Any individual or group affected by or interested in a business’s activities. Q: What is stakeholder conflict? A: A situation in which stakeholders’ interests oppose each other. Q: What is an NGO? A: A non-governmental organization that aims to support a cause or provide relief rather than earn profit. Q: What is a multinational company (MNC)? A: A business that operates in two or more countries. Q: What is foreign direct investment (FDI)? A: When an MNC invests capital into another country by establishing operations or acquiring assets. 🔹 Unit 1.5 — Growth & Evolution Q: What is internal (organic) growth? A: Ex...