Business Fundamentals: 11 Business Ultimate Revision

Owners/management, workplace culture, business structure, and employees make up with environment?

What is the difference between revenue and profit?

Answer explanation

Revenue is the total amount of money brought in through sales.

Profit is revenue, minus the expenses incurred in operating the business.

Data for an aging population would be considered an internal or external factor to a business?

• Internal

• External

What is the difference between a strategy and a tactic?

What are the 5 stages of the Business Life Cycle?

Answer explanation

Seed Stage
Start-up Stage
Growth Stage
Maturity Stage
Post-Maturity Stage

Which of the following IS NOT part of the operating external environment?

• Competitors

• Suppliers

• Economics

• Customers

a) In a SWOT analysis, Opportunities and Threats are made up of which environments?

Answer explanation

Macro environment, and operating external

List the four aspects o the operating external environment?

Answer explanation

Competitors
Consumers
Interest Groups
Suppliers

In your own words, discuss the advantages and disadvantages of choosing a public company legal structure.

What does PESTLE stand for?

Answer explanation

political, economic, social, technological, legal, environmental