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Business and Environment: Industry Trends and PESTEL Analysis

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Business and Environment: Industry Trends and PESTEL Analysis

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Questions and Answers

What is the primary goal of any business?

To create a positive impact on the macro environment

To satisfy the needs of its stakeholders

To provide goods and services to customers

To generate a profit for the owners (correct)

Which of the following is an example of a service?

Groceries

Internet (correct)

PCs

Cell phones

What is the role of owners in a business?

To manage the day-to-day operations of the business

To work for the company and help it reach its goals

To invest money in the business (correct)

To provide goods and services to customers

What is the purpose of revenue in a business?

To represent the funds an enterprise receives in exchange for its goods or services Signup and view all the answers

What is the main difference between a business and a non-profit organization?

A business is set up to make a profit, while a non-profit organization is not Signup and view all the answers

What is the role of management in a business?

To plan, organize, lead, and control a company's resources to achieve its goals Signup and view all the answers

What is the primary function of the operations functional area?

To convert resources into goods or services Signup and view all the answers

What is the definition of profit in a business?

What's left after all the bills are paid Signup and view all the answers

Who are stakeholders in a business?

Those with a legitimate interest in the success or failure of the business Signup and view all the answers

What is the main goal of a business's marketing strategy?

To provide goods and services to customers Signup and view all the answers