11 Business Studies

Which of the following is not an external influence?

• Financial

• Location

• Insitutional

• Political

Which of the following is not an internal influence?

• Product

• Financial resources

• Input resources

• Geographical

Sally wants to start a new juice bar, but finds that there are many other juice bars in the area already. Which of the following shows her business environment accurately?

• Increased competition, easier ease of entry

• Decreased competition, easier ease of entry

• Decreased competition, harder ease of entry

• Increased competition, harder ease of entry

Which of the following is not an indication fo the maturity stage of the produce life cycle?

• Large continual growth

• The threat of future business stagnation

• The need to maintain focus and direction

• Levelling off of growth to a more steady level

What is the major difficulty during the establishment stage?

• Advertising

• Cash flow

• Sourcing quality employees

• Sourcing equipment

A business developing a new app is an example of which influence?

• Institutional

• Product

• Technological

• Resources

Something which distinguishes one business from its rivals, placing it an advantageous position is called

• Competition

• Competitive situation

• Competitive edge

• Competitive advantage

Which of the following is not a feature of post-maturity?

• Renewal

• Growth

• Steady state

• Decline

Which of the following is not typical of the establishment stage?

• Determining business location

• Difficulty obtaining finance

• Loyal customers

• Cash flow problems

The attitude that internal stakeholders (e.g. management) create within the firm is called

• The business model

• Ownership

• Competitive advantage

• Business culture