fill out this studyguide Exam 1 Study Guide Exam MGT 1104 Fall 2023 The test covers chapters from 1-5, so here is a guide that should facilitate your studying. While studying, try to think of examples for each term, since that's how they show up on the test. It is important to note that you should have read ALL of the textbook chapters, attended all of the classes and engaged in class discussions - all of that material can be included on the Exam. Chapter 1: Types of teams: manager-led, self-managing, virtual, cross functional Importance of teams - where and why used Understand what makes team successful and why do teams struggle (e.g. GroupThink) Chapter 2: Macro environment and PESTEL Functional areas of a business: accounting, marketing, finance, management, operations Stakeholders (different types/categories) Chapter 3: Capitalism/socialism - differences and why Competition: perfect, oligopoly, monopolistic, supply and demand Economic indicators (lagging/leading): GDP, unemployment, CPI Fiscal and monetary policy - including who is responsible and the tools used Chapter 4: Corporate Social Responsibility, Philanthropy Ethical decisions/ethical issues/ethical dilemmas/conflict of interest Whistleblower Insider trading, SEC Chapter 5: Balance of trade: deficit/surplus/balance of payments International business models/entry strategies: importing/exporting, franchising, licensing, joint venture, foreign direct investment, outsourcing/contract manufacturing - understand exampl