discuss the negative impact of the socio-economic issues identified in QUESTION 1.5lack of skill on business.​

A lack of skill in business may have many negative socio-economic impacts, both at the societal level, and at the individual level.

Explanation:

At the societal level, this lack of business skills may produce a society in which entrepreneurship is low, which causes the private sector have poor dynamic, and economic growth to be sluggish. This can create an array of  negative socio-economic issues from unemployment, to poverty, to income inequality.

At the individual level, lack of business skills represents a handicap for individuals who would like to become business owners, but are thus unable to do so effectively. Their business may fail very quickly, leaving individuals in debt, or they may simply not start businesses at all, and be employees all their lives.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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