Business Environments
What business environment includes employees, managers and company policies?
Internal
What does the “S” in SWOT stand for?
Strengths
What type of competition has only one business controlling the market?
Monopoly
What does PSA stand for? (You made advertisements for these).
Public Service Announcement
What is the real name of the actress known as Lady Gaga?
Stefani Germanotta
What business environment includes customers, competitors and suppliers?
Operating Environment
Which part of a SWOT analysis looks at problems or disadvantages within a business?
Weaknesses
What is opportunity cost?
The next best alternative given up when making a decision
What type of communication is used during a product recall or cyber attack?
Crisis Communication
What is the name of the fictional African country in “Black Panther”?
Wakanda
Political, economic and technological factors are considered to be part of which environment?
Macro Environment
Opportunities and threats usually come from where?
The External Environment
If prices rise over time and money buys less, what is this concept referred to as?
Inflation
Why are positive customer relationships important?
Customers are more likely to return and recommend the business
In which Asian country is it a tradition to eat KFC for Christmas dinner?
Japan
Name two factors found in the internal business environment.
Employees, managers, legal business structure, business location, finance, support services.
Give one example of a business strength of Bunnings Warehouse.
Strong reputation, loyal customers, skilled staff
What does GDP (Gross Domestic Product) measure?
The total value of goods and services produced within a country.
Who are “publics” in business?
Stakeholder groups with an interest in the business
What are the common programming languages that are synonymous with an island in Asia & a snake?
Java & Python
Why are macro environment factors difficult for businesses to control?
They are broad external forces outside the control of the business, but are still expected to respond to if they (the business) wants to be successful.
A new competitor entering the market would be classified as what in SWOT?
A Threat
Why might scarcity cause prices to increase? (Hint think about the price of fuel).
Demand becomes greater than supply
Name two examples of publics.
Employees, media, government, local community, citizen action groups, general public
Invented here in Victoria, based of the Chinese spring roll, is the savory snack known as?
Chiko Roll