IB wk 2

Which type of business is Sport England an example of?

• Local

• National

• International

• Multi-national

How many employees does a medium-sized business typically have?

• Up to 9

• 10 to 49

• 50 to 249

• 250+

What is the minimum number of employees a medium-sized business can have?

• 9

• 10

• 50

• 250

What is an example of a Measurable target?

• To increase the profit margin for the business

• To increase profit by 20%

• To improve employee morale

• To expand the business

What is an example of a Time-constrained target?

• To increase profit by 20%

• To reach the target by the next financial year

• To improve customer service

• To expand the product line

Which aim involves ensuring the business can continue operating in the long term?

• Survival

• Immediate closure

• Short-term gains

• Quick liquidation

What is an aim of private sector businesses that involves increasing the size and scope of the business?

• Growth

• Reduction

• Downsizing

• Limitation

What does "break even" mean for a business?

• The business is making a profit.

• The business is making a loss.

• The total revenue matches the total outgoings.

• The business is expanding rapidly.

What are two common ways businesses aim to grow in size?

• By reducing staff and cutting costs

• By recruiting more people or increasing profits

• By closing down branches

• By decreasing product quality

How can growth occur in a company?

• Through decreased revenue

• Through increased revenue allowing expansion

• By reducing product lines

• By limiting market reach