Gr 11 September Test Revision

The process of obtaining information about possible and future events that may have an impact on the performance of the business is called...

• Environmental scanning

• Forms of business ownership

• Implementation of a CSR strategy

• Stakeholder relations

The SWOT analysis can be used to...

• identify strengths, weaknesses, opportunities and threats in the macroenvironment.

• identify strengths, weaknesses, opportunities and threats in the microenvironment.

• identify strengths, weaknesses, opportunities and threats in both the micro AND macroenvironments.

• identify opportunities and threats in the macroenvironment.

True or false? Opportunities and threats are external factors and therefore management should not worry too much about them. They should only focus on internal factors because they have control over them.

• True

• False

True or false? Business culture can be a strength for a business.

• True

• False

True or false? Business culture can be a weakness for a business.

• True

• False

True or false? Having a skilled workforce means that there will be less wastage.

• True

• False

Tick the factors that make a market attractive.

• high barriers to entry

• low barriers to entry

• weak supplier bargaining power

• strong supplier bargaining power

Tick the factors that make a market unattractive for a business.

• high levels of competition

• low levels of competition

• strong buyer bargaining power

• weak buyer bargaining power

True or false? A business will always prefer having one or just a few buyers/customers. This is because it is easy to keep up with the needs of a small group.

• True

• False

True or false? Political factors and LEGAL factors are closely related because politicians break the laws the most.

• True

• False