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WorksheetsHigher BM - Understanding Business
Total questions: 25
Worksheet time: 14mins
Which of the following is NOT a sector of industry?
Primary
Tertiary
Public
Quaternary
What are the 3 sectors of the economy?
primary, secondary, tertiary
private, public, tertiary
public, private, primary
private, public, third
Who owns private limited companies?
The Government
Board of Trustees
Shareholders
Stakeholders
Who controls a private limited company?
Board of Directors
Board of Trustees
Government
Local Community
Tick the correct DISADVANTAGES of a Multinational
language barriers can slow down communication
grants can be issued
wages and raw material costs can be lower
time differences can hinder communication
who owns businesses in the public sector?
Shareholders
The Government
Local Community
Stakeholders
who controls businesses in the third sector?
Board of Directors
Board of Trustees
Stakeholders
The Owner
Where do businesses in the third sector get their finance?
Loans from Family/Friends
Shareholders
Donations
Bank Overdraft
What is a social enterprise?
organisations which raise money for the government
organisations that do not aim to make a profit
organisations that aim to make a profit for the managers
organisations that aim to make a profit to benefit a specific group/ cause
tick the correct MAIN objectives of a business in the private sector
make profit
provide a quality service
donate to charity
raise money for a cause
what is vertical integration?
when 2 businesses from different sectors of industry become one
when 2 businesses from the same sector of industry become one
what is horizontal integration?
when 2 businesses from the same sector of industry become one
when 2 businesses from different sectors of industry become one
what are the 6 external factors?
political, economic,
social
time,
environmental,
community
people,
economic,
social
time,
environmental,
competitive
political, economic,
social
technological,
environmental,
competitive
political, economic,
social
technological,
e-commerce,
community
choose which of the following is NOT an internal factor
Corporate Culture
Finance
Competition
Staff
what is a stakeholder?
someone who owns a share in the business
someone who is interested in/has an influence on the business
which of the following are internal stakeholders?
employees
customers
owners
government
which of the following are external stakeholders?
employees
customers
owners
government
True or False? A tall structure means there are more opportunities for promotion?
True
False
True or False? A flat structure means information can be communicated quickly between levels?
True
False
True or False? Delayering means management wages would become more expensive.
True
False
SWOT analysis stands for...
stakeholders, working, opportunities, technology
strengths, working, opportunities, threats
strengths, weaknesses, opportunities,
threats
which of the following are roles of a manager? (according to Fayol)
plan, organise, command
plan, time, command
practice, perform, co-ordinate
delegate, motivate, share
which of the following is a political factor?
bad weather
changing fashion trends
changing laws
recession
which of the following is an environmental factor?
bad weather
changing fashion trends
changing laws
recession
which of the following is a competitive factor?
floods
changing fashion trends
changing legislation
new store opened next door
