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WorksheetsUnit one business and management
Total questions: 15
Worksheet time: 10mins
Social factors in the external environment take account changes in
Business cycles
Corporate tax rates
Customs and habits
Exchange rates
Which of the following would not be part of the tertiary sector
Education
Farming
Insurance
Tourism
Which management tool enables managers to deal with stakeholder conflict?
Contingency Planning
Crisis Management
Perception mapping
Stakeholder mapping
In 2006, L'Oreal acquired The Body Shop. This is an example of
A management buy-out
A merger
Diversification
Horizontal Integration
A growth strategy that combines the contribution and responsibilities of two different organizations in a shared project forming a separate legal identify.
(a)
An organization that operates in two or more countries, with its head office usually based in the home country.
(a)
Internal diseconomies of scale can be caused by
management control diluted because of more employees
being unable to buy inventory at a discount
Higher advertising costs
Traffic congestion
A disadvantage of a merger is
Rights to new technology and human resources
Market power
Synergy
Corporate culture
Declaration of a firm's overall purpose. It forms the foundation for setting the objectives of the business.
(a)
Consumers are the people or businesses that
Buy goods and services
Use a good or a service
Pay for a good or service
What statement does not apply to sole traders?
A business that is owned by one person
The most common form of business ownership
There can be more than one owner
There may be more than one employee
Advantages of sole traders do not include
Many sources of finance available
High degree of confidentiality in financial reporting
Profits don't have to be shared
Flexibility in decision making
A drawback of a public limited company is that they
Have limited liability
Have to publish financial information
Rely on government funding
Have access to many sources of finance
Which of the following are for-profit
Charity
Cooperatives
NGOs
State-owned enterprises
This occurs when the government works together with the private sector to jointly provide goods or services
(a)
