Podcast
Questions and Answers
Which business structure faces the disadvantage of unlimited liability?
Which business structure faces the disadvantage of unlimited liability?
- Sole Trader (correct)
- Public Limited Company (PLC)
- Private Limited Company (Ltd)
- Social Enterprise
A company is deciding whether to introduce a new product line. Which marketing activity would provide the MOST direct feedback on initial customer interest?
A company is deciding whether to introduce a new product line. Which marketing activity would provide the MOST direct feedback on initial customer interest?
- Reviewing existing market reports on similar products.
- Analyzing government statistics on consumer spending habits.
- Examining competitor's pricing strategies.
- Conducting a focus group with potential customers. (correct)
A manufacturing company has decided to invest heavily in automation to increase production speed. What is a POTENTIAL drawback of this decision?
A manufacturing company has decided to invest heavily in automation to increase production speed. What is a POTENTIAL drawback of this decision?
- Increased need for employee training programs.
- Reduced flexibility to adapt to changing customer demands. (correct)
- Less consistent product quality.
- Higher per-unit production costs.
Which of the following is MOST likely to be a non-financial method of motivating employees?
Which of the following is MOST likely to be a non-financial method of motivating employees?
A business is experiencing difficulty paying its short-term debts. Which of the following ratios would be MOST helpful in assessing the company's ability to meet these obligations?
A business is experiencing difficulty paying its short-term debts. Which of the following ratios would be MOST helpful in assessing the company's ability to meet these obligations?
If a country increases the minimum wage, which component of the PESTLE analysis would this fall under?
If a country increases the minimum wage, which component of the PESTLE analysis would this fall under?
Which leadership style is MOST likely to result in quick decisions but may not consider employee input?
Which leadership style is MOST likely to result in quick decisions but may not consider employee input?
Which financial statement provides a snapshot of a company's assets, liabilities, and equity at a specific point in time?
Which financial statement provides a snapshot of a company's assets, liabilities, and equity at a specific point in time?
A company's strategy is failing. What is the FIRST step it should take in the strategic evaluation process?
A company's strategy is failing. What is the FIRST step it should take in the strategic evaluation process?
What is the PRIMARY goal of lean production?
What is the PRIMARY goal of lean production?
Which of the following is an example of 'place' within the marketing mix (4Ps)?
Which of the following is an example of 'place' within the marketing mix (4Ps)?
Why might a business choose cost-plus pricing?
Why might a business choose cost-plus pricing?
What is the MAIN purpose of quality assurance?
What is the MAIN purpose of quality assurance?
What is a possible disadvantage of offering commission-based pay to a sales team?
What is a possible disadvantage of offering commission-based pay to a sales team?
Why might a company choose to use venture capital as a source of finance?
Why might a company choose to use venture capital as a source of finance?
Which situation would be considered an economic factor in a PESTLE analysis?
Which situation would be considered an economic factor in a PESTLE analysis?
Which of the following best describes corporate social responsibility (CSR)?
Which of the following best describes corporate social responsibility (CSR)?
Why is communication important for a manager?
Why is communication important for a manager?
In SWOT analysis, what is an 'opportunity'?
In SWOT analysis, what is an 'opportunity'?
Which section of a company's financial statements shows the movement of cash both into and out of a business over a period of time?
Which section of a company's financial statements shows the movement of cash both into and out of a business over a period of time?
Flashcards
Business Organization
Business Organization
Transforms inputs into outputs to profitably satisfy customer needs.
Sole Trader
Sole Trader
A business owned and run by one person, who is personally liable for all business debts.
Partnership
Partnership
A business owned by two or more people, who share profits or losses.
Private Limited Company (Ltd)
Private Limited Company (Ltd)
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Public Limited Company (PLC)
Public Limited Company (PLC)
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Social Enterprise
Social Enterprise
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Franchise
Franchise
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Marketing
Marketing
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Primary Research
Primary Research
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Secondary Research
Secondary Research
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The 4 P's
The 4 P's
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Target Market
Target Market
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Market Segmentation
Market Segmentation
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Operations Management
Operations Management
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Automation
Automation
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Human Resource Management (HRM)
Human Resource Management (HRM)
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Motivation
Motivation
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Budgeting
Budgeting
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Management
Management
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Business Strategy
Business Strategy
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Study Notes
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