30 Questions
What is the primary reason why employees are considered internal stakeholders?
They are more productive when protected and trained
Why are customers considered external stakeholders?
They have an impact on the company's revenues
What is the expectation of creditors from a business?
To meet payment deadlines responsibly and consistently
Why are managers considered internal stakeholders?
They are responsible for making decisions and creating a work environment
What is the primary difference between internal and external stakeholders?
Their employment status with the company
What type of business activity involves a company selling to another company?
Business to business
What is one possible use of economic power in business according to the text?
To lower prices to constrain competitors
What type of power do firms supported by the government have?
Political power
What is required to win a legal fight against a company that is copying your product?
Strong legal power and lots of money
Why is it important to keep information private?
Because it can be dangerous if it falls into the wrong hands
What is a stakeholder map used for?
To visualize the relationship between stakeholders and identify their stance on an issue
What is an alternative solution if a company lacks the resources to take legal action against a company copying their product?
To develop and innovate the product without considering imitations
What is the formula for calculating volume market share?
Brand sales in volume / market size in volume
What does a relative market share greater than 1 indicate?
The brand is the market leader
What is the primary goal of measuring customer satisfaction?
To improve the quality of goods and services
What is an example of a company asset?
Online portal
What is the difference between capabilities and competences?
Capabilities are the capacity to do something, while competences are the degree of skill
What is the type of brand awareness where a customer recalls a brand without prompting?
Spontaneous awareness
What is the importance of coordinating an organisation's value chain with its supplier's value chain?
To prevent a supplier's poor performance from affecting the organisation's value chain
What is the purpose of conducting a SWOT analysis?
To analyse an organisation's strengths, weaknesses, opportunities, and threats
What are considered internal factors in a SWOT analysis?
Strengths and weaknesses
What is an example of a company's main skill?
Making coffee, in the case of Illy
What does proprietary technology refer to?
A company's ownership of a technology or invention
What is involved in an internal assessment of an organisation?
Evaluating an organisation's strengths and weaknesses
What is the reason behind companies acquiring other companies, such as Nestle buying Buitoni?
To gain access to existing distribution channels and market presence
What makes substitutes more competitive in a market?
Lower prices for the same performance
What is the key difference between greenfield investments and brownfield investments?
Greenfield investments involve starting from scratch, while brownfield investments involve buying an existing company
What gives suppliers and buyers more power in a market?
When there are limited suppliers and buyers
What is the benefit of acquiring an existing company in a market?
You can immediately enter the market with an established presence
What type of investment involves buying an existing company to eliminate a potential future competitor?
Defensive investment
This quiz covers the importance of internal and external stakeholders in a company, including employees and managers, and how they impact business decisions.
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