Unit one business and management

Social factors in the external environment take account changes in

• Business cycles

• Corporate tax rates

• Customs and habits

• Exchange rates

Which of the following would not be part of the tertiary sector

• Education

• Farming

• Insurance

• Tourism

Which management tool enables managers to deal with stakeholder conflict?

• Contingency Planning

• Crisis Management

• Perception mapping

• Stakeholder mapping

In 2006, L'Oreal acquired The Body Shop. This is an example of

• A management buy-out

• A merger

• Diversification

• Horizontal Integration

A growth strategy that combines the contribution and responsibilities of two different organizations in a shared project forming a separate legal identify.

(a)  

An organization that operates in two or more countries, with its head office usually based in the home country.

(a)  

Internal diseconomies of scale can be caused by

• management control diluted because of more employees

• being unable to buy inventory at a discount

• Higher advertising costs

• Traffic congestion

A disadvantage of a merger is

• Rights to new technology and human resources

• Market power

• Synergy

• Corporate culture

Declaration of a firm's overall purpose. It forms the foundation for setting the objectives of the business.

(a)  

Consumers are the people or businesses that

• Buy goods and services

• Use a good or a service

• Pay for a good or service