Entrepreneurship and Business Structures Quiz

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Questions and Answers

What is one advantage of establishing a public limited company?

Ability to raise capital from sale of shares (correct)

Publicity restrictions

Unlimited liability

Limited control

Owners of public limited companies have unlimited liability.

False

What is a disadvantage of being a sole proprietor?

Unlimited liability

Public limited companies have the ability to sell shares to the _____ .

public Signup and view all the answers

Match the advantages and disadvantages to their corresponding business types:

Sole Proprietorship = Unlimited liability Public Limited Company = High legal formalities Signup and view all the answers

What is one way businesses can build customer loyalty?

Offering discounts and promotions Signup and view all the answers

Intrapreneurs work independently from the existing business structure.

False Signup and view all the answers

What are the three primary sectors of entrepreneurial activity?

Primary sector, Secondary sector, Tertiary sector Signup and view all the answers

Intrapreneurs can potentially earn a promotion or wage ___ based on their contributions.

raise Signup and view all the answers

Match the entrepreneurial sector with an example:

Primary sector = Fishing Secondary sector = Craft manufacturing Tertiary sector = Hairdressing Signup and view all the answers

What is a primary risk associated with entrepreneurship?

Loss of investment Signup and view all the answers

Providing goods that meet specific needs can create a competitive edge for businesses.

True Signup and view all the answers

What is the potential reward for a business that successfully engages in intrapreneurship?

Profit and improved product offerings Signup and view all the answers

What is a takeover in a business context?

Acquisition of more than 50% of another company's shares Signup and view all the answers

A friendly merger involves taking over a company without its consent.

False Signup and view all the answers

Name one strength of family-owned businesses.

Commitment Signup and view all the answers

A ________ takeover occurs without consent of the target business.

hostile Signup and view all the answers

Match the type of integration with its description:

Horizontal = Same industry at the same stage of production Vertical forward = Same industry as a customer of existing business Vertical backward = Same industry as a supplier of existing business Conglomerate = Different industry Signup and view all the answers

What is a potential weakness of family businesses due to personal relationships?

Nepotism Signup and view all the answers

Internal conflicts in family businesses can positively impact management.

False Signup and view all the answers

What issue might arise from informality in family-owned businesses?

Inefficiencies Signup and view all the answers

Which approach argues that focusing on stakeholders other than shareholders might reduce profits due to non-essential costs?

Shareholder perspective Signup and view all the answers

Paying low wages and making people work long hours is considered ethical as long as the laws permit it.

False Signup and view all the answers

What is one way to resolve conflicts that arise from satisfying different stakeholder aims?

Gradually phasing out a product line to support employees. Signup and view all the answers

Companies must assess the impact of negative publicity on __________.

revenue Signup and view all the answers

Match the following stakeholder aims with their potential solutions:

Supporting employees = Gradual product line phase-out Minimizing local disruption = Relocating new facilities Addressing local noise concerns = Funding noise reduction projects Balancing conflicting interests = Higher executive compensation Signup and view all the answers

Which of the following is NOT mentioned as a way senior management can balance stakeholder interests?

Increase prices for consumers Signup and view all the answers

Exploitative practices become ethical if they are not illegal.

False Signup and view all the answers

What is the primary aim of human resource management?

To recruit capable, flexible, and committed people. Signup and view all the answers

What was a characteristic of HRM in the past?

Bureaucratic and inflexible approach Signup and view all the answers

The current role of HRM includes solely focusing on recruitment and selection.

False Signup and view all the answers

What is the primary purpose of HRM?

To ensure maximum productivity and meet corporate objectives. Signup and view all the answers

HRM includes a '__________' for the job based on analyzing the qualities needed.

person profile Signup and view all the answers

Which of the following is NOT a current role of HRM?

Managing strategic financial investments Signup and view all the answers

Match the following HRM roles with their descriptions:

Recruitment and Selection = Finding the most suitable employees Employee Development = Providing training and appraisals Workforce Planning = Identifying future employee needs Job Advertisement = Communicating job requirements to potential hires Signup and view all the answers

What process identifies the future needs in terms of number of employees and skills required?

Workforce planning Signup and view all the answers

Job advertisements can be displayed both internally and externally.

True Signup and view all the answers

Which of the following is considered a hygiene factor?

Job Security Signup and view all the answers

Motivators such as achievement and recognition are essential for employee motivation.

True Signup and view all the answers

What term describes the factors that remove dissatisfaction but do not motivate employees?

Hygiene factors Signup and view all the answers

Workers must be given accurate feedback on their work, and good work must be recognized to ensure __________.

motivation Signup and view all the answers

Match the needs to their corresponding description:

Physical needs = Food, shelter, water, rest Safety needs = Job security and health Social needs = Trust, friendship, teamwork Esteem needs = Respect, status, recognition Signup and view all the answers

Which of the following principles emphasizes allowing workers to complete entire units of work?

Job Enrichment Signup and view all the answers

Regression means that once a need is satisfied, an individual cannot be motivated again by that need.

False Signup and view all the answers

List two examples of motivators that can inspire employees.

Achievement, recognition Signup and view all the answers

Study Notes

AS Level Business - Summary Notes

This document is a summarized set of notes on the theory syllabus for CAIE AS Level Business.
It covers various topics ranging from enterprise and economic activity to business structure and ownership.
It also includes aspects of business planning, motivation, and managing cash flow.
The information presented is factually accurate and detailed.
The document covers topics like different business structures, types of economies, entrepreneurial roles, challenges, and impacts on the economy.
It also explains how to evaluate different business environments and predict future trends, along with solutions to those challenges.
It covers business uncertainty, business plans, business structure, classifications of business activities, and an overview of the different ways businesses are structured, including public and private sectors.
It also details various stakeholder interactions and their effects on business decisions.

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Description

Test your understanding of the advantages and disadvantages of various business structures, including public limited companies and sole proprietorships. This quiz also explores entrepreneurial activity, risks involved in business, and ways to foster customer loyalty.

Entrepreneurship and Business Structures Quiz

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Podcast

Questions and Answers

What is one advantage of establishing a public limited company?

Owners of public limited companies have unlimited liability.

What is a disadvantage of being a sole proprietor?

Public limited companies have the ability to sell shares to the _____ .

Match the advantages and disadvantages to their corresponding business types:

What is one way businesses can build customer loyalty?

Intrapreneurs work independently from the existing business structure.

What are the three primary sectors of entrepreneurial activity?

Intrapreneurs can potentially earn a promotion or wage ___ based on their contributions.

Match the entrepreneurial sector with an example:

What is a primary risk associated with entrepreneurship?

Providing goods that meet specific needs can create a competitive edge for businesses.

What is the potential reward for a business that successfully engages in intrapreneurship?

What is a takeover in a business context?

A friendly merger involves taking over a company without its consent.

Name one strength of family-owned businesses.

A ________ takeover occurs without consent of the target business.

Match the type of integration with its description:

What is a potential weakness of family businesses due to personal relationships?

Internal conflicts in family businesses can positively impact management.

What issue might arise from informality in family-owned businesses?

Which approach argues that focusing on stakeholders other than shareholders might reduce profits due to non-essential costs?

Paying low wages and making people work long hours is considered ethical as long as the laws permit it.

What is one way to resolve conflicts that arise from satisfying different stakeholder aims?

Companies must assess the impact of negative publicity on __________.

Match the following stakeholder aims with their potential solutions:

Which of the following is NOT mentioned as a way senior management can balance stakeholder interests?

Exploitative practices become ethical if they are not illegal.

What is the primary aim of human resource management?

What was a characteristic of HRM in the past?

The current role of HRM includes solely focusing on recruitment and selection.

What is the primary purpose of HRM?

HRM includes a '__________' for the job based on analyzing the qualities needed.

Which of the following is NOT a current role of HRM?

Match the following HRM roles with their descriptions:

What process identifies the future needs in terms of number of employees and skills required?

Job advertisements can be displayed both internally and externally.

Which of the following is considered a hygiene factor?

Motivators such as achievement and recognition are essential for employee motivation.

What term describes the factors that remove dissatisfaction but do not motivate employees?

Workers must be given accurate feedback on their work, and good work must be recognized to ensure __________.

Match the needs to their corresponding description:

Which of the following principles emphasizes allowing workers to complete entire units of work?

Regression means that once a need is satisfied, an individual cannot be motivated again by that need.

List two examples of motivators that can inspire employees.

Study Notes

AS Level Business - Summary Notes

Studying That Suits You

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