Business Stakeholders and Competition Influence
9 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the primary role of managers in a company?

  • To lead and control company's resources (correct)
  • To prepare financial statements
  • To improve product offerings
  • To aggressively promote the company's brand

    • How does competition influence businesses?

  • By promoting individual economic freedom and limiting government intervention
  • By increasing prices and reducing product offerings
  • By reducing the need for customer satisfaction
  • By forcing companies to improve product offerings, lower prices, and focus on customer satisfaction (correct)

    • Who are considered stakeholders in a business?

  • Only the bankers and management
  • Customers, vendors, employees, landlords, bankers, and others with legitimate interest in the success or failure of the business (correct)
  • Only the vendors and landlords
  • Only the customers and employees

    • What type of business has outlets throughout the country and provides goods or services to virtually every citizen?

    <p>National business</p> Signup and view all the answers

    Which type of business often suffers from undercapitalization, occurring when business owners cannot obtain enough funding for their businesses?

    <p>Local business</p> Signup and view all the answers

    Which type of business must be aware of all state laws in every state?

    <p>National business</p> Signup and view all the answers

    What is one of the benefits of telecommuting and teleconferencing mentioned in the text?

    <p>Improved communication for companies</p> Signup and view all the answers

    How does the Internet contribute to the revolutionary nature of technological changes?

    <p>By changing the scope of business operations</p> Signup and view all the answers

    In the context of e-commerce, what does B2B stand for?

    <p>Business to business</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser