S3 Business Management Exam Revision

An individual with a business idea that takes on financial risk to start their own company

Which of the following is not an objective of a private sector business?

• Maximise Donations

• Maximise Profits

• Business Growth (enter new countries)

• Provide good customer service

Which of the following is not a method of being more ethical in the production process?

• Recycling materials

• Using Fair Trade

• Giving employees a bonus

• Using electric vehicles

This method checks for faults every stage of production?

This method checks for faults only at the end of production?

Which of the following is not an external factor?

• Political

• Social

• Economic

• Finance

This is set by the government and if it increases then the business will pay more money to their employees for each hour they work?

Which of the following is not a reason for a business to conduct market research?

• To find out how much competitors are charging

• To find out employees job history

• To find out where customers live

• To find out how much customers are willing to pay

Match the image with the external factor

• Social

• 
• Competitive

• 
• Environmental

• 
• Political

• 

An objective of a charity is to maximise