REVISION - U1T1

Select all of the following that are challenges of the seed stage of the business life cycle

• Time and energy

• Rapid growth

• Changes in the economy, society or market

• Significant outlay

The following describes strategies of which stage of the business life cycle?

During this stage of the life cycle, the potential of the business will depend heavily on the staff who have been employed and the procedures in place. Ensuring the implementation of quality practices, and a heave involvement in the recruitment process will enable the founder to delegate responsibility.

• Seed

• Growth

• Maturity

• Post-Maturity

Which of the following is NOT a challenge of the start-up stage of the business life cycle?

• riskiest stage

• engaging with stakeholders

• establishing a customer base

• getting to comfortable

The _____________ stage is a stage in the business life cycle during which the business may head in one of three directions.

• Seed

• Start-Up

• Maturity

• Post-Maturity

TRUE of FALSE

One of the most effective ways to increase competitiveness in the maturity stage of the business life cycle is to cut costs.

• TRUE

• FALSE

What evaluation criteria is the definition below?

"to what degree has the business optimised its use of recourses and application of processes in achieving goals and/or objectives?

• Competitiveness

• Effectiveness

• Efficiency

• Stakeholder Satisfaction

The criteria of ______________ can be used to make judgements on two business, and on which ne has performed more effectively.

• Competitiveness

• Effectiveness

• Efficiency

• Stakeholder Satisfaction

When evaluating you must always use _______________ and make ________________

• criteria, judgements

• evidence, judgements

• criteria, recommendations

• evidence, decision

Employees are part of which environment?

• External

• Physical

• Internal

• Macro

Which of the following is not part of the external operating environment?

• Interest Groups

• Customers

• Competitors

• Employees