Business Stakeholders: Internal and External
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Questions and Answers

What is the primary reason why employees are considered internal stakeholders?

  • They have an impact on the company's revenues
  • They are more productive when protected and trained (correct)
  • They are responsible for making decisions
  • They provide product inventory on account

    • Why are customers considered external stakeholders?

  • They invest in the company
  • They have an impact on the company's revenues (correct)
  • They provide product inventory on account
  • They make decisions for the company

    • What is the expectation of creditors from a business?

  • To meet payment deadlines responsibly and consistently (correct)
  • To provide product inventory on account
  • To make decisions for the company
  • To invest in the company

    • Why are managers considered internal stakeholders?

    <p>They are responsible for making decisions and creating a work environment</p> Signup and view all the answers

    What is the primary difference between internal and external stakeholders?

    <p>Their employment status with the company</p> Signup and view all the answers

    What type of business activity involves a company selling to another company?

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

    What is one possible use of economic power in business according to the text?

    <p>To lower prices to constrain competitors</p> Signup and view all the answers

    What type of power do firms supported by the government have?

    <p>Political power</p> Signup and view all the answers

    What is required to win a legal fight against a company that is copying your product?

    <p>Strong legal power and lots of money</p> Signup and view all the answers

    Why is it important to keep information private?

    <p>Because it can be dangerous if it falls into the wrong hands</p> Signup and view all the answers

    What is a stakeholder map used for?

    <p>To visualize the relationship between stakeholders and identify their stance on an issue</p> Signup and view all the answers

    What is an alternative solution if a company lacks the resources to take legal action against a company copying their product?

    <p>To develop and innovate the product without considering imitations</p> Signup and view all the answers

    What is the formula for calculating volume market share?

    <p>Brand sales in volume / market size in volume</p> Signup and view all the answers

    What does a relative market share greater than 1 indicate?

    <p>The brand is the market leader</p> Signup and view all the answers

    What is the primary goal of measuring customer satisfaction?

    <p>To improve the quality of goods and services</p> Signup and view all the answers

    What is an example of a company asset?

    <p>Online portal</p> Signup and view all the answers

    What is the difference between capabilities and competences?

    <p>Capabilities are the capacity to do something, while competences are the degree of skill</p> Signup and view all the answers

    What is the type of brand awareness where a customer recalls a brand without prompting?

    <p>Spontaneous awareness</p> Signup and view all the answers

    What is the importance of coordinating an organisation's value chain with its supplier's value chain?

    <p>To prevent a supplier's poor performance from affecting the organisation's value chain</p> Signup and view all the answers

    What is the purpose of conducting a SWOT analysis?

    <p>To analyse an organisation's strengths, weaknesses, opportunities, and threats</p> Signup and view all the answers

    What are considered internal factors in a SWOT analysis?

    <p>Strengths and weaknesses</p> Signup and view all the answers

    What is an example of a company's main skill?

    <p>Making coffee, in the case of Illy</p> Signup and view all the answers

    What does proprietary technology refer to?

    <p>A company's ownership of a technology or invention</p> Signup and view all the answers

    What is involved in an internal assessment of an organisation?

    <p>Evaluating an organisation's strengths and weaknesses</p> Signup and view all the answers

    What is the reason behind companies acquiring other companies, such as Nestle buying Buitoni?

    <p>To gain access to existing distribution channels and market presence</p> Signup and view all the answers

    What makes substitutes more competitive in a market?

    <p>Lower prices for the same performance</p> Signup and view all the answers

    What is the key difference between greenfield investments and brownfield investments?

    <p>Greenfield investments involve starting from scratch, while brownfield investments involve buying an existing company</p> Signup and view all the answers

    What gives suppliers and buyers more power in a market?

    <p>When there are limited suppliers and buyers</p> Signup and view all the answers

    What is the benefit of acquiring an existing company in a market?

    <p>You can immediately enter the market with an established presence</p> Signup and view all the answers

    What type of investment involves buying an existing company to eliminate a potential future competitor?

    <p>Defensive investment</p> Signup and view all the answers

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