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Worksheets2.1 Growing The Business
Total questions: 20
Worksheet time: 11mins
What is the environmental issue about people constantly buying new phones?
Older models are scrapped
Toxic Materials from older models leak into the environment
Customers Pay more money
Stakeholders lose more money
Business' use non-renewable energy.
What impact does this have?
Environmental
Legal
Ethical
Cultural
Which one of these scenarios are ethical issues
A company is thinking of employing a robot that will make most of the workforce redundant
Someone creating an AI
A judge decides to give someone a prison sentence
Someone hacks a computer
Which of these is an example of economic changes in the global context?
New £10 note
High street banks opening
Electronic banking
Saving accounts
Globalisation is:
the introduction of the internet to make us closer to others in the world.
the breakdown of traditional barriers between nations through technology and transport
faster travel around the world
the movement of people and ideas around the world.
what is the definition of a Business Aim?
A broad statement that the business owner wants to achieve
A general target the business works towards
A specific target a business sets
What is a Business Objective?
A statement the business uses to gain customers
A specific target the business sets to achieve their aim
A general Goal a business wants to achieve
Objectives set by businesses need to be......
Specific, Measurable, Attainable, Realistic, Time bound (SMART)
Set, Measured, Adaptable, Realistic, Timed (SMART)
What aim might a computer manufacturer seeing falling sales have?
Profit
Growth
Market Share
Providing a service
A takeover is when
A business agrees to join with another business
A business buys more than 50% of another business
A business buys any share of another business
A business takes over paying the workers of another business
Businesses grow to achieve Economies of Scale. This means:
A business merges with its supplier
They can produce goods at a lower average cost
They sell goods at a higher price
They can produce goods at a higher average cost
What is a disadvantage of growth?
It can attract more competitors to the market
It can increase production and output
It can cost the business money in the short term
It can cost the business money in the long term
One advantage of international trade would be:
It would be easier to count costs using a spreadsheet
No tariffs or regulations on exports from the UK to the rest of the EU - saves money
Businesses who export have more potential customers to target
9+5=14
True or False? Globalisation is a national thing?
True
False
Moral principles and values applied to social behavior.
Environmental
Ethics
;)
Common Law
A business might change its aims and objectives because:
All businesses change their objectives after a year
A new competitor has become very successful
It feels that a change will always bring more profits
It is essential to change objectives as a business grows
Which order would you expect a business to have its objectives in?
Growth, profit, survival
Profit, growth, Survival
Survival, profit, growth
Survival, growth, profit
What aim might a new, small business have?
Profit
Market Share
Survive
Providing a service
What is meant by 'profit'?
Difference between revenue and costs
Its the income of a business
