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WorksheetsTakin' Care of Business
Total questions: 15
Worksheet time: 8mins
Stakeholder satisfaction refers to...
How well a business manages affected parties
How efficiently a business creates its product
How much better a business is than its competition
How effective a business is at reaching its goals
The internal operating environment does not include
Suppliers
Employees
Managers
Organisational Culture
The external operating environment does NOT include:
Interest Groups
Competitors
Customers
The Economy
The external macro environment does not include...
Economic Factors
Political Factors
Technological Factors
Supply-Side Factors
Businesses can be:
Profit-Based
Not-for-profit
Government Owned
Charities
A difficulty with achieving stakeholder satisfaction is...
managing conflicting stakeholders
delivering an effective product
dealing with incessant whinging
delivering a competitive result
Human Resources includes:
Advertising strategies
Producing efficient production methods
Managing and training employees
Organising funding across the business
Operations of a business involves
sourcing and transforming materials into a finished product
understanding the needs and wants of customers
accounting and communications between sectors
managing all aspects of people in a business
The maturity stage of the business lifecycle is when..
the business is at the top of its game
the business seeks reinvention
the business tests out a new range of products
the business begins sourcing investment
The start-up stage of the business lifecycle involves...
selling products for the first time
testing products with potential investors/clients/family/friends
growth into new markets
reinvention of core products and values of the business
Strategic planning does not include:
Vision Statements
Strategies
Goals
Authoritative Leadership
A business may choose to become a company so...
All of the responses are correct
to avoid liability for potential debts
to gain more control over the business
A sole trader faces...
unlimited liability for the company
all of the responses are correct
complete control over the business' operations
An autocratic management style is..
open to new ideas
creates change within an organisation
is a genuine personality and a good motivator
rules rigidly and with little external input
A bureaucratic leader emphasises
rigid systems and processes
personality and charm
a relaxed approach to management
a participative approach to decision making
