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WorksheetsUnit 3 Topic 1 Competitive Markets
Total questions: 35
Worksheet time: 18mins
When 'describing the environment', you should link the business to the...
Internal environment
External operating environment
External macro environment
All of the above
Which of the following is NOT a mode of entry
Licensing
Intrapreneurship
Strategic Alliances
Importing and exporting
A mature business must focus on the _____________ and ______________ phases of the employment cycle
development and maintenance
acquisition and development
maintenance and separation
acquisition and separation
Horizontal growth focuses on ____________ expansion
target market
geographical
customer
market
Vertical growth focuses on _________________
target markets
new customers
existing customers
emerging markets
A company that buys another company as its mode of entry is referred to as a _____________________
overseas distributor
licensing
strategic alliance
sales subsidiary
An example of a HR strategy a company can use when attempting to maintain staff is _____________
going public
diversity
providing dividends
customer discounts
Customers and competitors are examples of the _______________________ environment
STEEPLE
internal
external macro
external operating
An international business
has operations worldwide and does not identify any home country
has headquarters in its country of origin but has expanded with subsidiaries or production facilities in several countries
is based in one country but imports, of exports to other countries
operates within one country
A global business
has operations worldwide and does not identify any home country
has headquarters in its country of origin but has expanded with subsidiaries or production facilities in several countries
is based in one country but imports, or exports, to other countries
operates in one country
When the word 'emerging' is used, this refers to __________
markets
technologies
trends
all of the above
Understanding both the social and business __________ in another country is essential to success when entering a new global market
competitors
positives
negatives
culture
Carefully analysing the ______________ of an entry strategy is vital to the strategy being successful
risks
people
finances
rewards
Fostering intrapreneurship is a HR strategy that companies can implement in the _________________ stage of the employment cycle
acquisition
development
maintenance
separation
In global expansion, _______________ refers to a contractual agreement that is in place to allow one business to use another businesss' intellectual property
overseas manufacturing
international distributing
importing and exporting
licensing
A sales subsidiary is
a business owned and controlled by a larger company
the owner of many small companies
a business that operates in one country and manufactures in another
a business with many sales stores
In risk management, 'plan B' is correctly referred to as
contingency management
consequence planning
risk management
contingency planning
When assessing risks of a decision, a business should always consider
actual consequences that would occur in the event of something going wrong
the probability of something going wrong
the people affected should something go wrong
all of the above
Emerging technologies can benefit the _________________ of global businesses
expansion
securing
strength
competitors
Finding a niche market can create a new ____________ for a smaller global business to take advantage of
product
market
weakness
strategy
A mature business should be at the___________ of the industry
top
middle
bottom
rise
The ultimate goal of motivating staff is to
recruit cheap workers.
pay staff what they are entitled to.
identify and fire engaged workers.
maintain and support highly engaged workers that are loyal to the company.
Maslow's hierarchy of needs is relevant to a mature business when ____________ strong staff
maintaining
removing
hiring
inducting
The goal of the HR department of a global company is to become ____________________.
a well budgeted company
a profitable company
an employer of choice
a well operated company
In your exam, you should include all information you can find in a SWOT analysis
True. Everything is relevant
False. The SWOT will be targeted
A _________ workplace is one that includes people from different types of gender identity, age, language, ethnicity, cultural background etc.
inclusive
diverse
holistic
good
An _________ workplace is one where a diverse range of people are encouraged to provide their own skills to the organisation
inclusive
diverse
holistic
good
The development of a strong culture in a global business relies on strong
leaders and managers
leaders
managers
employees
_______________ is a financial strategy where a company invests money in another private company
Providing dividends
Going public
Private equity
Accessing grants
When a company decides to 'go public', it will have an _________________________________ to generate publicity and introduce products to customers.
initial public offering
shares sale
shares draft
public share rating
Workplace wellbeing strategies exist to _________________ employees
build up
monitor
control
motivate
Performance management, motivation and career planning are examples of processes in the ________________ phase of the employment cycle
acquisition
development
maintenance
separation
A mature business faces HR challenges relating to the development and maintenance of staff. Ultimately, a mature business should be working to ____________ loyal staff.
recruit
remove
hire
motivate
__________________________ is a process that mature businesses must continually engage in to remain competitive
Risk management
Strategic planning
Competition monitoring
Developing a niche market
Profit potential, accessing a broader market and reducing the risk of decline are all ______________________________
motivations for expansion
threats to business decline
reasons for businesses to stay the same
elements of STEEPLE
