WorksheetsGr 11 September Test Revision
Total questions: 20
Worksheet time: 17mins
The process of obtaining information about possible and future events that may have an impact on the performance of the business is called...
Environmental scanning
Forms of business ownership
Implementation of a CSR strategy
Stakeholder relations
The SWOT analysis can be used to...
identify strengths, weaknesses, opportunities and threats in the macroenvironment.
identify strengths, weaknesses, opportunities and threats in the microenvironment.
identify strengths, weaknesses, opportunities and threats in both the micro AND macroenvironments.
identify opportunities and threats in the macroenvironment.
True or false? Opportunities and threats are external factors and therefore management should not worry too much about them. They should only focus on internal factors because they have control over them.
True
False
True or false? Business culture can be a strength for a business.
True
False
True or false? Business culture can be a weakness for a business.
True
False
True or false? Having a skilled workforce means that there will be less wastage.
True
False
Tick the factors that make a market attractive.
high barriers to entry
low barriers to entry
weak supplier bargaining power
strong supplier bargaining power
Tick the factors that make a market unattractive for a business.
high levels of competition
low levels of competition
strong buyer bargaining power
weak buyer bargaining power
True or false? A business will always prefer having one or just a few buyers/customers. This is because it is easy to keep up with the needs of a small group.
True
False
True or false? Political factors and LEGAL factors are closely related because politicians break the laws the most.
True
False
Tick all the factors that you would consider when doing a Porter's analysis.
The likelihood of government interference in the economic functioning of the country
The degree of political stability in the country
Political ties with other countries as this may, for instance, influence trade agreements.
Degree of media freedom/freedom of speech,
The number of businesses producing substitute products.
True or false? When conducting a PESTLE analysis, one should focus more on socio-economic factors than on social factors.
True
False
Tick all the factors that fall under socio-economic factors.
Personal safety and crime.
Awareness of the issue of pollution and recycling.
Distribution of wealth/poverty.
The changing role of women in society in certain cultures.
Which of the following can be used to investigate forces in the market environment?
An environmental scan
A SWOT analysis (O and T only)
The use of the six forces as identified by Porter
WO strategies
When analysing the existing level of rivalry, the following factors require reviewing:
Size and financial resources of the business.
The quality of products/service.
Consumer brand loyalty.
Trading hours.
Under which of Porter's factors would you consider the strategy of introducing customer loyalty programs to make the business more attractive
Level of rivalry
The power of suppliers
Legal forces
True or false. When evaluating the availability of substitute products, we look at different brands that also sell the same product that we offer.
True
False
When analysing the existing level of rivalry for Pizza Hut, we will consider the following:
a take away sandwich from Checkers
a burger from burger king
A pizza from Andiccio's
a home made sandwich
Tick the possible costs associated with the unavailability of stock.
If there is no material, a manufacturer cannot produce
Customer goodwill may be lost if they have to go to competitors.
None of the above, because if you are not producing, you don't incur any expenses, so there are no costs involved.
Which of the following are complementary products?
Coffee and sugar.
Fish and chips.
Burgers and milkshake.
Fast foods and Mr Delivery.
