Business Studies June exam P1 (Easy)

What is the micro environment of a business?

What is the primary purpose of a business's mission statement?

What is the difference between a business's goals and objectives?

What is the purpose of a business's vision statement?

Who has control over the micro environment of a business?

Why is it important to understand the business environment?

What is the main role of the secondary sector?

Which sector is involved in the movement of goods and information?

What do auxiliary services help bridge within the tertiary sector?

Which businesses are officially registered and comply with governmental regulations?

Which sector typically operates for profit and drives innovation?

Which of these sectors provides essential services like healthcare and education?

Which of the following is an external factor that can impact business operations?

What can high unemployment lead to in a national economy?

Which factor is influenced by customs, religion, and language?

What type of environment involves understanding local customs and networking within business communities?

Which of the following is not a key economic indicator?

How does a negative balance of payments impact a national currency?

What do advancements in communication technologies demand from businesses?

What is not included in the micro environment of a business?

What can political instability lead to in terms of business growth?

How do steel tariffs encourage domestic production in a country?

Which sector is involved with natural resources?

What influences consumer behavior and supplier relations in the market environment?

Which of these is an example of an economic factor in the macro environment?

What can businesses do to influence the market environment?

Which of these is an example of a technological factor in the macro environment?

Which sector involves the management, cultivation, and harvesting of forests?

What can macro environmental factors do to business operations?

What do legal frameworks govern in business practices?

What is not an activity involved in the primary sector?

Which of these is an example of a social factor in the macro environment?

What is organizational culture?

What is a physical resource in a business?

What is the role of 'Leading' in the POLC framework of management?

What is the business function of the Purchasing department?

What is the macro environment in a business context?

What is the role of 'Organising' in the POLC framework of management?

What does the Public Relations function handle in a business?

What is the role of 'Controlling' in the POLC framework of management?

What is the role of the Financial function in a business?

What is the role of 'Planning' in the POLC framework of management?

What is the role of customers in the market environment?

Which of these is NOT a part of the macro environment?

What are some of the psychological factors that influence a customer's purchasing decision?

Which of these is NOT a role of managers in the micro environment?

What are some common elements of social factors that influence a customer's purchasing decision?

What are some personal factors that influence a customer's purchasing decision?

What are some common elements of cultural factors that influence a customer's purchasing decision?

What is the role of intermediaries in the market environment?

What is the role of competitors in the market environment?

What is the role of civil society in the market environment?

What is the primary purpose of a business's vision statement?

What is included in the micro environment of a business?

What are objectives in a business?

What is the foundation for a business's existence?

Who has control over the micro environment of a business?

What is the role of goals in a business?

What is the function of the tertiary sector?

Which sector operates under government control and provides essential services like healthcare and education?

What is a characteristic of the informal sector?

Which gap do auxiliary services help bridge by managing the time gap?

What is the main function of the secondary sector?

Which sector typically drives innovation and is focused on profit-making?

What are Business Cycle Stages primarily responsible for influencing in a business?

Which technological innovation is highlighted as enhancing inventory management and customer transactions?

What influences market demands and necessitates adjustments in product offerings and marketing strategies?

Which sector involves the cultivation of crops and rearing of animals for various products?

What can political instability potentially lead to in the context of business growth?

What external factors can disrupt or create business opportunities, necessitating quick adaptations?

Which sector directly involves the extraction and harvesting of natural resources like minerals?

What directly impacts consumer spending and business costs through its changes?

Which activities can dramatically alter operational efficiencies and market reach for businesses?

How can consumer behavior and supplier relations be significantly influenced within the micro environment?

How does a negative balance of payments potentially impact a national economy?

What consequences can high unemployment and the prevalence of HIV/Aids have on a national economy?

How does political instability within a country typically impact business growth?

What key aspect influences market dynamics and consumer needs through changes in population statistics like age, gender, and education?

In the context of the business cycle stages, what phase dictates market conditions and consumer spending behaviors characterized by a decline in economic activity?

Which sector is involved in understanding and adhering to laws regarding employment, consumer protection, and competition to shape business operations?

What can social grants, aimed at temporarily boosting consumer spending among lower-income groups, lead to?

Which technological advancement is stated to reduce labor needs but increase efficiency in production and operations?

How can advancements in communication and information management technologies demand adaptation from businesses?

Which aspect of the technological environment can enhance operational efficiency but require businesses to develop new skills and adapt their processes?

Which of the following is an example of a physical resource in a business?

What is the primary role of the General Management function in a business?

What is the role of the Human Resource function in a business?

Which of the following is NOT a part of the micro environment of a business?

What is the role of the Financial function in a business?

What is the collective behavior, norms, and work dynamics within a business?

What is the primary role of the Administration function in a business?

Which of the following is an example of an informational resource in a business?

What is the main role of the Production function in a business?

What is the main role of intermediaries in the market environment?

What is included in Maslow's Hierarchy of Needs?

What is the primary purpose of understanding the market environment?

What is the role of managers in the micro environment?

What is part of the macro environment?

What is the role of customers in the market environment?

What is the role of suppliers in the market environment?

What is the role of civil society in the market environment?

What is included in the micro environment?

What is the main difference between a business's vision and mission statements?

What type of elements are included within the micro environment of a business?

What is the primary purpose of a business's goals and objectives?

Who has control over the micro environment of a business?

What is the internal environment also known as?

What is the purpose of a business's mission statement?

What is the primary function of the secondary sector?

What is a characteristic of the informal sector?

What is the main role of the tertiary sector?

Which sector operates under government control and is funded by taxpayers?

What is the purpose of auxiliary services in various sectors?

What differentiates the formal sector from the informal sector?

What is the collective behavior, norms, ethical standards, and work dynamics within a business?

What are tangible assets like buildings, machinery, and equipment in a business?

What determines the future path of the company through strategic and operational planning?

What is the hierarchical arrangement of business roles and responsibilities that helps in managing the flow of information and decision-making processes across the company?

What is responsible for recruiting, training, and maintaining a qualified and motivated workforce in a business?

What manages the financial health of the company, ensuring adequate funding and financial planning?

What fosters motivation and productivity in an organisation?

What are the external factors that directly affect the company, such as competitors, suppliers, and customers?

What is essential for funding operations, expansions, and sustaining the business through challenging periods?

What oversees and synchronizes all other business functions to ensure the achievement of the company’s objectives?

What can negatively impact import costs and economic stability?

What influences consumer behavior and product preferences?

What can temporarily boost consumer spending among lower-income groups?

What can reduce labor needs but increase efficiency in production and operations?

What can lead to uncertainty and risk in business growth?

What comprises the business's mission, objectives, management functions, and resources?

What can increase training costs and impact overall national productivity?

What involves steps like company registration, tax registration, and compliance with labor laws?

What can affect local markets through disruptions in supply chains or shifts in migrant patterns?

What phase of the business cycle dictates market conditions and consumer spending behaviors characterized by a decline in economic activity?

What is the main purpose of understanding the market environment?

What is the role of the primary sector in the economy?

What can influence consumer spending and business costs?

What is the macro environment in a business context?

What can advancements in automation and digital marketing tools do to business operations?

What is the role of government policies in the macro environment?

What is the primary role of the tertiary sector in the economy?

What is the impact of a negative balance of payments on a national economy?

What is the role of the micro environment in business operations?

What is the impact of demographic shifts on business operations?

What is a key aspect of the market environment that directly interacts with a business?

What do businesses need to continuously monitor to effectively respond to opportunities and threats?

What influences the purchasing decisions of customers?

What is the primary role of suppliers in the market environment?

What is the main impact of understanding the business environment on a business?

What is a key element of the physical/natural environment?

What is the role of intermediaries in the market environment?

What is the primary role of management in the micro environment?

What is included in Maslow's Hierarchy of Needs?

What is the primary function of the tertiary sector in the economy?

Which sector is officially registered, large, complies with regulations, and contributes to the country's GDP?

What is the primary characteristic of the informal sector?

What is the key role of the public sector in the economy?

What is the role of auxiliary services in supporting various sectors?

Which sector is responsible for driving innovation and significant employment opportunities?

What type of infrastructure can impact business operations positively or negatively?

What can impose restrictions on businesses and require compliance with sustainability practices?

Which factor influences market dynamics and consumer needs through changes in population statistics like age, gender, and education?

What do mechanisms like social grants help achieve?

What impact can high unemployment and health issues like HIV/Aids have on a national economy?

Which technology can enhance operational efficiency but also require businesses to protect data integrity and privacy?

Which of the following legal factors significantly impacts business operations and compliance requirements?

Which event outside national borders can affect local markets through supply chain disruptions or shifts in migrant patterns?

What is the main role of understanding the complex dynamics between micro, market, and macro environments for businesses?

How does political stability impact business growth?

What aspects of a business can be influenced by its organizational culture?

Which of the following is a tangible physical resource critical for business operations?

What is the primary role of the Public Relations function within a business?

Which core activity of management involves monitoring processes and outputs to ensure alignment with goals?

What does the Financial Function of a business primarily focus on managing?

Which business function is responsible for identifying customer needs and tailoring products accordingly?

What segment of the business environment involves societal forces like economic conditions and legal frameworks?

Which factor is NOT part of the Financial Resources critical for businesses?

What is the main role of the Human Resource Function within a business?

Which hierarchical arrangement helps manage the flow of information and decision-making processes across a company?

What is the primary purpose of a business's mission statement?

What is the role of 'Controlling' in the POLC framework of management?

Which sector typically drives innovation and is focused on profit-making?

What can negatively impact import costs and economic stability?

Which of the following is not a key economic indicator?

What are some of the psychological factors that influence a customer's purchasing decision?

What is the main characteristic of the macro environment?

What is the primary role of the primary sector?

What can influence consumer behavior and supplier relations in the micro environment?

What is an example of a social factor in the macro environment?

What is the main role of the tertiary sector?

What can disrupt or create business opportunities, necessitating quick adaptations?

What is the main characteristic of the micro environment?

What can influence consumer spending and business costs?

What is the main role of the market environment?

What can influence business operations and market conditions?

What is a key aspect of the market environment?

What influences customers' purchasing decisions?

What is the role of suppliers in a business?

What is the purpose of understanding the macro environment?

What is included in the physical/natural environment?

What is Maslow's Hierarchy of Needs?

What is the role of intermediaries in the market environment?

What is the micro environment?

What is the main role of civil society in the market environment?

What is the purpose of understanding the market environment?