2.1 Growing the Business Revision

Internal growth is where a business grows by joining another business

• True
• False

What is a merger?

• An extension tactic.

• Gluing two factories together.

• Where two or more businesses agree to join together.

• A welding process

Which of the following options is most likely to be a reason why a firm may wish to expand?

• To keep control of the business
• To increase the level of profits the firm will make
• To encourage competition
• To avoid publicity

What are the benefits of a company being known as ethical?

• Impact on competitiveness
• Enhances reputation
• Value added
• All of these

What is a stakeholder?

• Someone who has an interest in the company
• Someone who eats lots of meat
• Someone who stabs people with sticks
• A vampire slayer

What's ethics all about?

• An ethnic minority
• A person who's a bit daft
• Morally correct behaviour
• Making lots of money out of customers, bleeding them dry!

What could result when a company has a good code of ethics?

• Employees continue to work at the company
• Customers decide to do business elsewhere
• Employees leave to find other employment. 
• Managers discipline employees more often.

Which is an example of ethical behavior in the workplace?

• Turning in actual receipts for a business trip reimbursement
• Sending a coworker an email asking for a date after work 
• Telling a friend in another company something the boss said confidentially
• Telling the boss that you cannot work with a coworker 

What is an Import?

• Goods / Services bought from overseas

• Goods / Services sold to overseas consumers

• Services / Goods purchased from your grandma who lives in Gabon

• An industry made up of consumers from all over the world

One advantage of international trade would be:

• It would be easier to count costs using a spreadsheet

• No tariffs or regulations on exports from the UK to the rest of the EU - saves money

• Businesses who export have more potential customers to target

• 9+5=14