Study

Buss

  •   0%
  •  0     0     0

      Back   Restart
  • Name 2 strategies to overcome resistance to change.
    Communication, support
  • Give 2 resisting forces to change in a business.
    Cost, culture
  • Describe the Classical management approach.
    Task-focused, autocratic
  • Name 2 risk management strategies.
    Contingency planning, diversification
  • What is the primary purpose of a business?
    To generate profit
  • Name 3 types of business classification by size.
    Micro, small, medium, large
  • What does SWOT stand for?
    Strengths, Weaknesses, Opportunities, Threats
  • Name 1 non-financial business goal.
    Social or environmental goal
  • Give 2 examples of internal business environment factors.
    Management, resources
  • What is the purpose of business planning?
    Guides direction, reduces risk, identifies opportunities, attracts investors
  • Give 2 driving forces for change in a business.
    Technology, competition
  • Describe the Behavioural management approach.
    People-focused, democratic
  • Give 2 financial planning tools.
    Cash flow forecast, income statement
  • Who are internal stakeholders?
    Owners, managers, employees
  • Name the 4 main management roles.
    Planning, organising, leading, controlling
  • Give 2 examples of external business environment factors.
    Economic, social
  • What are the 4 stages of the employment cycle?
    Acquisition, Development, Maintenance, Separation
  • List the stages of the business life cycle.
    Establishment → Growth → Maturity → Post-maturity
  • Describe the Contingency management approach.
    Flexible, adapts to situation
  • Give 2 examples of contemporary/ethical business issues.
    CSR, sustainability
  • Who are external stakeholders?
    Customers, suppliers, government, community
  • What are the 4Ps of marketing?
    Product, Price, Promotion, Place
  • What is a KPI?
    Key Performance Indicator used to monitor business performance
  • Name 3 types of business classification by industry.
    Primary, secondary, tertiary
  • Q: What is the main purpose of a business?
    A: Profit, employment, innovation, choice, wealth creation, quality of life
  • Name 2 financial business goals.
    Profit, growth
  • Name 3 key management skills.
    Communication, problem-solving, decision-making
    • Your experience on this site will be improved by allowing cookies.