Business SL Term 2 test

What is the correct definition of a business aim?

• what the owners of a business want to do

• what the business does to produce their product or service

• the overall target or goal of the business

• the steps a business needs to take to meet its targets

which of the following is the correct definition for a mission statement?

• it defines the company's business, its objectives and its approach to reach those objectives.

• it describes the desired future position of the company.

• it describes what the company produces

• it describes what the shareholders believe in

The SMART acronym is used to develop effective objectives - what does SMART stand for?

• Specific, Measurable, Achievable, Relevant, Time Specific

• Specific, Management, Attainable, Relevant, Timetable

• Social, Manageable, Actionable, Relevant, Time Specific

• Social, Measurable, Actionable, Reachable, Trackable

What is an approach or scheme for achieving an aim or objective?

• Policy

• Curriculum

• Strategy

• Tactic

Which of the following are Human Resource objectives?

• reduce labour turnover

• decrease absenteeism

• increase sales

• increase advertising

Which of the following would be part of a company's corporate social responsibility strategy?

• to treat all staff fairly

• to reduce the number of managers in the organisation

• to reduce waste products in production

• to support local charities

which of the following are benefits of an effective CSR policy?

• increased costs of production

• increased size of business

• improved brand image

• development of motivated and talented workforce

In a SWOT analysis, under which section would a highly skilled workforce be placed?

• Strengths

• Weaknesses

• Opportunities

• Threats

In a SWOT analysis, in which section would a new competitor would be placed?

• Strengths

• Weaknesses

• Opportunities

• Threats

In a STEEPLE framework, which section relates to the way people live and what they believe and value