Business Fundamentals Pre Assessment

There are five stages in the business life cycle.

• True

• False

This stage of the business sees movement into either an established state or an expansion state

• Start-up

• Growth

• Maturity

• Post-maturity

This stage of the business is the very beginning of the business life cycle where it is just a thought or an idea.

• Start-Up

• Seed

• Maturity

• Growth

In this stage of the life cycle viability of the idea is established and product or service is ready to market and sell

• Seed

• Start-up

• Growth

• Maturity

Steady state, decline or renewal are all possibilities in this stage of the business life cycle

• Maturity

• Post-maturity

• Growth

• Start-up

The 3 distinct business environments include

• Internal, Internal Operating, External Macro

• Internal, External Operating, External Macro

• Internal Macro, External Operating, External Macro

Customers, Suppliers, Competition and Interest Groups are part of the

• Internal Business Environment

• External Operating Business Environment

• External Macro Business Environment

Owners/Managers, Employees, Organisation Structure and Organisation Culture are part of the

• Internal Business Environment

• External Operating Environment

• External Macro Environment

Which options correctly describe a 'stakeholder'

• Anyone with an interest in a business and how it operates

• An individual, group or organisation that is affected by the activity of a business

• A person or group that owns a stake in the business

Which of these is NOT a characteristic of an entrepreneur?

• Creative

• Risk-taker

• Deternmined

• Risk averse