Year 12 General Business Unit 3 Topic 1

Which of the following is a primary method used in market research to gather data directly from potential customers?

• Secondary data analysis

• Surveys

• Financial statement review

• Risk assessment

What is the main purpose of analysing financial statements in a business?

• To determine employee satisfaction

• To assess the company's financial health

• To develop marketing strategies

• To identify global expansion opportunities

Which of the following is a key responsibility of the human resources department?

• Conducting market research

• Managing employee recruitment and training

• Developing financial statements

• Creating advertising campaigns

Which financing strategy involves selling shares of the company to raise capital?

• Debt financing

• Equity financing

• Bootstrapping

• Crowdfunding

What is a common challenge businesses face when expanding globally?

• Increased local competition

• Currency exchange fluctuations

• Decreased market share

• Reduced production costs

What is the primary goal of market research?

• To increase production efficiency

• To understand consumer needs and preferences

• To reduce employee turnover

• To improve financial reporting

What is a potential benefit of domestic expansion for a business?

• Increased exposure to foreign exchange risk

• Access to a larger local customer base

• Higher transportation costs

• More complex regulatory requirements

Which of the following is a common method for a business to assess its competitive position in the market?

• Customer satisfaction surveys

• Financial statement audits

• Employee performance reviews

• SWOT analysis

What is a primary challenge of conducting market research in international markets?

• Higher production costs

• Increased local competition

• Limited access to local talent

• Language and cultural barriers

Which of the following is a common tool used to evaluate the external environment of a business?

• PEST analysis

• SWOT analysis

• Financial ratio analysis

• Employee performance reviews