When interpreting students need to write a paragraph with 3 elements in it

1. Relationship or trend from the SWOT 2. Impact Now 3. Future Impact linking to the business life cycle

Definition of strategic planning

Strategic planning is a management tool used to set priorities for the future of a business.

What is in the first level of strategic planning?

The why? A vision and mission statement

What is the 3rd level of strategic planning?

The How? Strategies and Tactics

What is a vision statement?

A vision statement, or simply a ‘vision’ is a framework and is an aspirational statement of what a business would like to achieve in the future.

What is a mission statement?

A mission statement is a plan of action for a business, and it states its purpose as an actionable statement.

Is this Google's vision or mission statement? To provide access to the world’s information in one click

Vision statement- aspirational and future based

Is this Google's vision or mission statement? To organise the world's information and make it universally usable and accessible

Mission Statement- Present based and actionable

What is Google's mission statement

To organise the world's information and make it universally accessible and useful

What is Google's vision statement?

To provide access to the world’s information in one click

What are the 4 key legal ownership structures for businesses

Sole Trader, Partnership, Private Company, Public Company

What does unlimited liability mean?

means the owner(s) is personally responsible for the debts of the business

In a private company how many shareholders can there be

Limit of 50 shareholders/owners

In a public company how many shareholders can there be?

Minimum of 5 shareholders, no upper limit

What are the 4 functions in a business?

Marketing Operations Finance Human Resources (HR)

What is the finance function?

Responsible for the financial resources, financial position an performance of a business About Money

What is the human resources function?

Responsible for all aspects of managing the people in a business About people

What is the marketing function?

Understanding the needs and wants of customers About selling the right product

What is the operations function?

Transforming process that turns inputs into finished goods or services About creating the product

U1T1 Business Exam Revision Flashcards

Student preview

47 questions

Show all answers

1.

FLASHCARD QUESTION

Front

Business Life Cycle Stages

Back

Seed, start up, growth, maturity, post-maturity

2.

FLASHCARD QUESTION

Front

3 layers of the business environment

Back

Internal, external operating, external macro

3.

FLASHCARD QUESTION

Front

Internal Environment includes

Back

Owners and management, employees, organisational culture, organisational structure

4.

FLASHCARD QUESTION

Front

External operating environment includes

Back

Customers, competitors and suppliers

5.

FLASHCARD QUESTION

Front

External Macro Environment includes

Back

Political, Economic, Socio-cultural, Technological

6.

FLASHCARD QUESTION

Front

SWOT stands for

Back

Strengths, weaknesses, opportunities, and threats

7.

FLASHCARD QUESTION

Front

Strengths are...

Back

Internal and positive

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever

or continue with

Microsoft

Apple

Others

Already have an account?

Similar Resources on Wayground

43 questions

SEZIONI E ASSONOMETRIE

Flashcard

•

9th Grade

38 questions

Math 3 EOC Formulas

Flashcard

•

11th Grade

41 questions

Differentiation and Integration Formulas

Flashcard

•

12th Grade

39 questions

Baroque Music Review

Flashcard

•

9th Grade

38 questions

Matter Review

Flashcard

•

9th Grade

38 questions

Spanish-English Vocabulary and Phrases

Flashcard

•

9th - 10th Grade

50 questions

sfgjnfjdfgtlereviewerfndfjksdgns

Flashcard

•

KG

35 questions

02_ObliCon

Flashcard

•

12th Grade

Popular Resources on Wayground

8 questions

Spartan Way - Classroom Responsible

Quiz

•

9th - 12th Grade

15 questions

Fractions on a Number Line

Quiz

•

3rd Grade

14 questions

Boundaries & Healthy Relationships

Lesson

•

6th - 8th Grade

20 questions

Equivalent Fractions

Quiz

•

3rd Grade

3 questions

Integrity and Your Health

Lesson

•

6th - 8th Grade

25 questions

Multiplication Facts

Quiz

•

5th Grade

9 questions

FOREST Perception

Lesson

•

KG

20 questions

Main Idea and Details

Quiz

•

5th Grade

Discover more resources for Business

20 questions

Reading a Pay Stub Practice

Quiz

•

9th - 12th Grade