Questions and Answers
What is the primary goal of business development?
What is the term for a business development strategy that combines two companies into a new entity?
A tech startup like Spotify aims to build what kind of relationships to enhance its service?
Tesla's focus on becoming a leader in the electric vehicle market is based on recognizing what?
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Which process involves promoting products through advertising?
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What action does Coca-Cola take to support its launch of new products?
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Which term describes the process of forming partnerships with external vendors?
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What does strategic partnerships and alliances focus on in a business context?
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What process involves understanding customer needs and preferences to inform product development?
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Which term refers to the collaboration between airlines and hotel chains to enhance customer offerings?
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What type of research does a company like Tesla perform to identify consumer trends in electric vehicles?
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What does the process of merging two companies to form a new entity refer to?
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Which process involves identifying potential customers and assessing their suitability?
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What skill is essential for a business development manager to effectively close deals?
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What is needed for a business development professional to create effective growth plans?
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Which strategy focuses on combining two companies into a single new entity?
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Which business entity is characterized by a maximum of 20 owners and lacks limited liability protection?
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Which type of business entity must be listed on Bursa Malaysia and has no limit on the number of shareholders?
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Which of the following best exemplifies a business concept?
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What type of business entity is owned by a single individual?
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Which option is a clear example of a social objective?
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An objective that aims to improve employee satisfaction focuses primarily on which category?
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Which of the following strategies is aimed at enhancing a company's brand reputation?
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Which company is widely recognized for its strong and consistent brand image?
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Study Notes
Business Entities
- Partnerships have a maximum of 20 owners and do not offer limited liability protection.
- Public Limited Companies (Berhad) are required to be listed on Bursa Malaysia with no limit on the number of shareholders.
- Sole Proprietorships are owned solely by one person, while Private Limited Companies (Sdn Bhd) have restrictions on ownership.
Business Concepts and Examples
- Grab is recognized as a business concept for providing food delivery services via a mobile app, illustrating innovation in service delivery.
- Social objectives focus on community benefits, such as implementing recycling programs, which promote environmental sustainability.
Objectives in Business
- Human Objectives emphasize improving employee satisfaction and morale, contributing to a positive workplace culture.
- Economic objectives aim at increasing market share and profit margins, addressing financial performance.
Brand Reputation and Strategy
- Enhancing brand reputation can be achieved through community engagement initiatives, such as charity campaigns.
- Companies like Apple maintain a strong and consistent brand image, recognized globally for their product quality.
Business Development Goals
- A primary goal of business development involves expanding the customer base to drive growth and sustainability.
- Mergers and acquisitions refer to the strategy of combining two companies to create a new entity, aimed at market expansion and resource optimization.
Marketing and Promotion
- Marketing encompasses promoting products through advertising to reach end customers effectively.
- Companies leverage various marketing strategies, such as social media campaigns, to enhance product visibility and appeal.
Vendor Management
- Vendor management focuses on establishing partnerships with external entities to enhance service offerings and operational efficiency.
- Collaborations with service providers, such as cloud services, showcase strategic vendor management practices.
Strategic Partnerships and Market Research
- Strategic Partnerships and Alliances are essential for businesses to identify potential collaborators that can expand their market reach.
- Market Research and Analysis involve understanding customer needs to inform product development and strategy effectively.
Identifying and Qualifying Leads
- Generating and qualifying leads is critical for businesses to identify potential customers and assess their fit for products or services.
- Skilled negotiation and communication are vital for business development professionals to close deals successfully.
Strategic Thinking in Business Development
- Strategic thinking enables professionals to craft effective growth plans tailored to market dynamics and company goals.
- A strong foundation in analytical skills aids business development managers in interpreting market trends and making informed decisions.
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Description
Test your knowledge on different types of business entities in Malaysia with this multiple-choice quiz based on Chapter 2. Questions cover ownership limits and liability protections. Perfect for students studying business law or entrepreneurship.
