Business Management Semester 1 Revision

Select the 5 functional areas of business

• Finance, IT, HR, Management & Marketing

• HR, Marketing, IT, Accounting & Management

• IT, HR, Sales, Management & Marketing

• Management, Finance, Control, HR & IT

• Accounting, Marketing, Sales, Finance & IT

The T in SWOT Analysis stands for

What is a PESTLE analysis?

• A strategic planning tool used to assess the Strengths, Weaknesses, Opportunities and Threats of a business

• A technique for analysing the macro-environment (factors outside the organisation) of an organisation under the following headings:

  political economic, socio-cultural, technological, legal and environmental

The socio-cultural factors within a PESTLE analysis considers factors such as which?

• Inflation

• Safety regulations

• Environmental requirements

• Demographics, gender, income distribution, emigration and issue of a cultural nature such as, language, customs and religion

Fill in the blanks: Fill in the blank: the micro-environment refers to those factors which ​are ​________ to the organisation and thus the organisation has some control over.

The macro-environment includes factors which are primarily ​ ______ the control of the organisation.

Micro factors include which of the following ​ ​

• Suppliers

• Shareholders

• Customers

• Employees

• Political

Which of the following comes second in the Product Life Cycle?

• Introduction Stage

• Growth Stage

• Maturity Stage

• Decline Stage

What is the Marketing STP process?

• A three-step process in marketing management:

  Sectioning, Targeting and Pricing

• A three-step process in marketing management:

  Segmentation, Targeting and Positioning

• A three-step process in marketing management:

  Segmentation, Targeting and Plucking

A ​___________ organisational structure ensures management and decision making power is contained at the top of the hierarchy.