Business Stakeholders Quiz
42 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 do shareholders primarily seek from their investment in a business?

  • High levels of employee satisfaction
  • Affordable pricing for products
  • Good return on their investment (correct)
  • Minimal government regulations

    • Which of the following is a key interest for customers?

  • High profit margins
  • Financial stability of the business
  • Job security offered by the business
  • Value for money (correct)

    • What do managers and employees prioritize in their roles?

  • Maximizing shareholder profits
  • Immediate financial benefits
  • Promotion opportunities and job satisfaction (correct)
  • Ensuring low prices for consumers

    • What is a primary concern for suppliers when dealing with a business?

    <p>Fair or high prices and prompt payments</p> Signup and view all the answers

    Why do banks and other finance providers invest in businesses?

    <p>To ensure low-risk investments and profitable growth</p> Signup and view all the answers

    What does business ethics primarily focus on?

    <p>Morally correct behavior of businesses</p> Signup and view all the answers

    How should ethical decisions be characterized?

    <p>Based on what is morally right</p> Signup and view all the answers

    Which of the following statements is true about ethics and law?

    <p>A decision can be illegal but still ethical</p> Signup and view all the answers

    What potential impact can unethical pricing strategies have on a business?

    <p>Short-term profits but long-term reputational damage</p> Signup and view all the answers

    Which stakeholder is primarily affected by high pricing strategies in business?

    <p>Consumers</p> Signup and view all the answers

    What is one potential immediate effect of business expansion?

    <p>Lower short-term profits</p> Signup and view all the answers

    Which group is likely to support business expansion due to job creation?

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

    What conflict may arise from short-term profit maximization by managers?

    <p>Discouragement of long-term investments</p> Signup and view all the answers

    What can be a result of investing in new machinery?

    <p>Job losses</p> Signup and view all the answers

    What consequence might extending products into mass markets have?

    <p>Lower quality standards</p> Signup and view all the answers

    Which factor is NOT typically considered when deciding on a business location?

    <p>Company brand recognition</p> Signup and view all the answers

    What might be a reason for management to implement short-time working?

    <p>Reduce cash spending</p> Signup and view all the answers

    Which stakeholders are likely to be affected by job losses in a business?

    <p>Local community and suppliers</p> Signup and view all the answers

    What advantage do businesses gain from teleworking?

    <p>Access to a larger talent pool</p> Signup and view all the answers

    What is a possible drawback of using digital communication?

    <p>Equipment may not work properly</p> Signup and view all the answers

    How can digital technology affect a business's marketing approach?

    <p>Allowing for high-definition marketing messages</p> Signup and view all the answers

    What is a significant risk for businesses that ignore the pace of technological change?

    <p>Possibility of business closures</p> Signup and view all the answers

    What is a disadvantage of relying on electronic transmission?

    <p>Health concerns related to devices</p> Signup and view all the answers

    Which of the following is a benefit of using cloud storage for businesses?

    <p>Ability to back up and save data easily</p> Signup and view all the answers

    What factor may lead to a reduced leisure time for employees?

    <p>Employers expecting longer hours of availability</p> Signup and view all the answers

    Which of the following is NOT a way businesses are impacted by digital technology?

    <p>Increased reliance on traditional marketing methods</p> Signup and view all the answers

    Which of the following is NOT a characteristic of organic growth?

    <p>Acquiring another company</p> Signup and view all the answers

    What is a primary advantage of organic growth for most businesses?

    <p>It builds on the business's own capabilities and resources.</p> Signup and view all the answers

    Which option is an example of achieving organic growth?

    <p>Opening a franchise in a new region</p> Signup and view all the answers

    Which method of expansion involves selling existing products in new markets?

    <p>Exporting</p> Signup and view all the answers

    Just Eat exemplifies which type of business expansion?

    <p>Organic growth through online marketing</p> Signup and view all the answers

    How does training employees contribute to organic growth?

    <p>It prepares employees to implement new production technology.</p> Signup and view all the answers

    Which of the following is NOT a way to measure business expansion?

    <p>Number of competitors</p> Signup and view all the answers

    What type of growth focuses primarily on acquiring resources from outside the business?

    <p>External growth</p> Signup and view all the answers

    What is one benefit of having clear objectives in a business?

    <p>It allows for consistent planning.</p> Signup and view all the answers

    Why is it important for all employees to be aware of a business's objectives?

    <p>To enhance focus and efficiency.</p> Signup and view all the answers

    How do clear objectives help in measuring a business's success?

    <p>By establishing benchmarks for assessment.</p> Signup and view all the answers

    In what way do clear objectives assist in determining a business's future direction?

    <p>They provide a framework for strategic decisions.</p> Signup and view all the answers

    What might a business need to do if its objectives are proving impossible to meet?

    <p>Change its business objectives.</p> Signup and view all the answers

    What is a potential consequence of a business not having clear objectives?

    <p>Lack of direction in operations.</p> Signup and view all the answers

    How can clear objectives influence a business's strategy?

    <p>They help align departmental plans with overall goals.</p> Signup and view all the answers

    What is an important consideration for a business when reviewing its objectives?

    <p>The business should consider if objectives are achievable.</p> Signup and view all the answers

    Study Notes

    AQA GCSE Business (9-1) Course Companion

    • This document is a course companion for AQA GCSE Business (9-1)
    • It provides essential study notes.
    • It is divided into sections and topics related to
      • Business in the Real World (page 4)
      • Influences on Business (page 37)
      • Business Operations (page 62)
      • Human Resources (page 80)
      • Marketing (page 105)
      • Finance (page 140) and includes a glossary (page 172).
    • Each section covers specific topics of the GCSE course, with page numbers for references.

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Related Documents

    AQA GCSE Business PDF Companion

    Description

    Test your knowledge on the interests and concerns of various business stakeholders including shareholders, customers, employees, suppliers, and finance providers. This quiz covers topics such as business ethics, pricing strategies, and the effects of expansion. See how well you understand the dynamics of business relationships.

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser