Business Stakeholders Quiz

Shareholders are interested in making money from their investment. This includes receiving high profits, dividends, and seeing the business grow.

Managers and employees aim for a good work environment and career advancement. They want fair compensation, secure jobs, and opportunities to grow within the company.

Customers prioritize getting the best value for their money. This means quality products, tailored to their needs, and helpful customer support.

Suppliers rely on businesses as customers. They want fair prices, timely payments, and a stable business partnership ensuring continued sales.

Banks want to make money by lending and ensuring borrowers can repay. They look for profitability and low risk in the businesses they finance.

Clear goals guide a business's path, like whether to expand, change customer focus, or adjust product/service offerings.

By aligning everyone towards shared goals, employees work efficiently like a well-oiled machine.

Clear goals enable strategic planning, ensuring the business and its departments work towards a common purpose.

Objectives provide a yardstick to measure progress and success.

Business can adapt its strategy or objectives based on performance.

Clear objectives help a business decide its desired position in the market, influencing decisions like pricing, product development, and marketing.

Objectives provide a focal point for the business, driving decisions and actions.

With clear direction, the business can effectively allocate resources.

Expanding a business by increasing its product range, locations, or both.

A situation where different interested parties (stakeholders) in a business have conflicting goals.

Measured by sales, profit, capital invested, output, employee count, locations, business value, and market share.

Managers prioritize immediate profits over long-term investments.

E-commerce, franchising, and investing in technology are examples of organic growth.

A business increases production or sales by outsourcing tasks to other companies.

Expanding the size and scale of a business, often involving increased costs and potentially lower short-term profits.

A business decision to reduce its workforce to cut costs.

Improving and broadening the product range offered by a business.

Entering new geographic markets with existing products.

A business strategy to increase sales and profits by making products available to a wider audience.

The physical location where a business operates, which can have a significant impact on its success.

Investing in research and development to create new products or improve existing ones.

Morally correct behaviour in business decisions.

Individuals with a vested interest in a company's actions.

Investing in new equipment or technology to improve efficiency and profitability.

Using online platforms to sell products or services.

Lowering quality standards to reduce costs and increase profits, possibly at the expense of customer satisfaction.

Actions that are based on what is morally right, even if it's not the most profitable decision.

Actions that are judged based on their impact on the environment and sustainability.

A business decision that is considered morally wrong, even if it is legal.

The use of computers and software for communication, storing and retrieving information, and managing business operations.

Working from a remote location using technology, like a home office.

Businesses using digital technology can reach a larger pool of potential employees.

Businesses need to adapt to digital technology quickly, or risk falling behind competitors.

Digital communication allows businesses to share information instantly and widely.

Saving time and money through digital communication options like video conferencing and online meetings.

Digital technology allows businesses to create different versions of their content, including translations.

Marketing and advertising with high-quality images and videos are possible through digital technology.