WorksheetsA Level Biz - Marketing and people (1.5)
Total questions: 27
Worksheet time: 14mins
What is the first stage in setting up a business?
Research
Having an idea
Find a source of finance
Launch
What is the last stage in setting up a business?
Market research
Source finance
Deciding a location
Launch
Which one of the following is not a functional business activity carried out by an entrepreneur:
Financial management
Administration
Remortgaging
Managing people
____ are employees usually in larger businesses.
Entrepreneurs
Intrapreneurs
Stakeholders
Shareholders
Which of the following is a barrier to entrepreneurship?
Fear of success
Lack of legal barriers (red tape)
Multitude of ideas
Lack of entrepreneurial capacity
An entrepreneur needs to be able to anticipate ____
risk and uncertainty
weather conditions
what happened in the previous accounting period
what competitors did recently
A successful entrepreneur is likely to have which characteristic?
Risk averse
Self confidence
Self doubt
Defeatist
Successful entrepreneurs take ___ in difficult situations.
short cuts
the innovation
little responsibility
the initiative
People set up their own business for financial & _____
cash based motives
lucrative motives
profitable motives
non financial motives
Some people set up their own business to support ___
the secondary sector
the local banking sector
a moral belief they possess.
their competitors
An organisation that trades with the aim of improving the human/environmental well being is known as a ____
Social enterprise
Ergonomic enterprise
Primary enterprise
Conglomerate
Profit maximization =
focusing on profit levels that enable to enterprise to contribute to the local community.
making just enough profit to satisfy the needs of the business owner.
an attempt to make as much profit as possible in a given time period.
charging prices that are lower than their competitors to gain increased market share.
Profit satisficing =
making just enough profit to meet the needs of the business owners lifestyle.
making as much profit as possible in a given time period
making as little profit as possible in a given time period
donating at least 20% of profits to local causes.
What does the S in SMART objective stand for?
Strategic
Sales
Specific
Simplified
What does the M in SMART objective stand for?
Market
Maximisation
Monetary
Measurable
What does the A in SMART objective stand for?
Aim
Arduous
Agricultural
Achievable
What does the R in SMART objective stand for?
Realistic
Risk
Reward
Redundant
What does the T in SMART objective stand for?
Tedious
Time specific
Technological
Threat
What a business tries to achieve in the long term =
Function
Objective
Aim
Activity
The goals or targets set by an business to help achieve their long term purpose =
Objective
Aim
Characteristic
Responsibility
A sole trader ____
has limited liability
has unlimited liability
is incorporated
has shareholders
A sole trader ____
can easily raise capital
owns 100% of the shares in the business
has limited liability
keeps all of the profits
A private limited company____
must have a Certificate of Association
must have a Memorandum of Association
must have a Statement of Association
must have a Instruction of Association
A private limited company has _____
a maximum of 6 owners
shares that can be sold on the stock exchange
shares that can be transferred privately
unlimited liability
_____ are generally lower risk, as they use an idea that has already been tried and tested.
Franchises
Sole traders
Partnerships
Public Limited Companies
A stock market flotation occurs when a company ____
goes private
goes transatlantic
goes global
goes public
_____ is a market for second hand shares.
Stock haberdashery
Share store
Stock market
Share supermercado
