Which of the following best describes the term stakeholder? An individual or organisation that:

• Owns part of a business

• Provides a business with raw materials

• Is affected by, or has an interest in, the activities of a business

• Provides finance for a business

A high street coffee shop uses recyclable cups. The stakeholder objective being met is:

• Minimising the time it takes to pay its suppliers

• Maximising dividend payments for its owners

• Minimising environmental impact on the local community

• Maximising pay for employees

When a business pays another firm to carry out some of its tasks is known as...

• E-Commerce

• Outsourcing

• Franchising

• Takeover

Less than half of all takeovers and mergers are successful.

• True - It is hard to make two different businesses work as one.

• False - It allows businesses to grow quickly and reduce costs.

Select the two laws that businesses must follow?

• Low Pay Act

• Equality Act

• Health & Safety at Work Act

• Employee Act

Low interest rates means that...

• Firms and consumers borrow more money and save less

• Firms and consumers borrow less money and save more

• Firms and consumers borrow more & save more

• Firms and consumers borrow less & save less

A strong pound means...

• Imports are more expensive and exports are cheaper

• Imports are cheaper and exports are more expensive

A business has made a decision to become decentralised. What is the benefit of them doing this?

• More profitable

• Keeps decisions consistent

• Authority is shared out

The CEO has a span of control of...

• 1

• 4

• 7

• 13

This image helps to explain the concept of...

• Delayering

• Chain of Command

• Heirarhcy

• Delegation