Role of business
What remains after all busienss expenses have been deducted from revenue?
Profit
I have shares listed on the ASX and I have to issue a prospectus when selling shares for the first time.
What is my legal structure?
Public company
Who am I?
I am part of the economic cycle characterised by decreasing consumer spending, rising unemployment and falling sales and profit.
Recession
I am vulnerable and my main concern is to get the business on a solid foundation which requires enough sales to bring in income to pay expenses and to generate a positive cash flow.
Which stage of the business life cycle?
Establishment
The four P's of marketing
Price
Product
Place
Promotion
Who am I?
The amount of money a business receives as payment for its products?
Revenue (also known as sales revenue)
I provide essential community services and I am government owned an operated. I provide telecommunications services
1. What type of legal structure?
2. What type of industry?
Government Enterprise
Tertiary
These factors signifcantly impact business activity in Australia
- the aging population (demographic)
- globalisation
This influence is internal OR external? and classified as _______________________
External
Geographic
Who am I?
I occur when an independant and suitably qualified person is appointed to take control of the business with the intention of selling all the company's assets in an orderly and fair way in order to pay the creditors
Liquidation
An internal influence is LOCATION. Name TWO location factors
Names TWO of:
Visibility
Cost
Proximity to suppliers
Proximity to Customers
Proximity to Support Services
Businesses play a major role in providing _______________ in the Australian economy.
Wealth
I have started a hospitality business with personal unlimited liability. I am able to share my workload and have pooled funds and talent
I operate in the ___________industry
My legal structure is a ______________
Quinary
Partnership
Flexible hours and recycling are examples of which external influences?
Social
____________ and _____________________ may end up being declared bankrupt. Bankruptcy is a declaration that a business is unable to pay its ________
Sole traders
Partnerships
Debts
Fruit and vegetable growers are an example of ___________________ type of market concentration.
On the other hand Cotton On is an example of _______________________ type of market concentration
Perfect Competition
Monopolistic Competition
Which is NOT a role /function of business
a. profit
b. financial
c. choice
d quality of life
b. financial
Who am I?
I am a business with dentists in states accross Australia. I have 76 employees
My size?
My geographical spread?
My industry?
medium
national
tertiary
Trade and industry associations, the ASX, and the ACCC are examples of _______________________ influences.
On the other hand operating in an oligopoly is an example of a _______________________________ influence
Institutional
Competitive Situation
A ____________ occurs when the owners of 2 separate businesses agree to combine their resources and form a new organisation.
An ________________ occurs when one business takes control of another business by purchasing a controlling interest in it
Merger
Acquisition
I am a graph or model that helps to understand how the business changes overtime. I have four main stages.
Who am I and what are my four stages?
The business life cycle.
Stage 1 Establishment
Stage 2 Growth
Stage 3 Maturity
Stage 4 Post Maturity
_________________ are people who are part owners of a company because they own a number of ____________.
A _______________ is part of a business's profit that is divided among ___________________
Shareholders
Shares
dividend
shareholders
I am a business called Perfect Bread Pty Ltd who turns flour into bread. I have 18 employees. I operate in Jesmond
My legal structure is ____________
My industry is_________________
My size is ___________________
My geographic spread is _____________________
Private company
Secondary
Medium
Local
Name the FIVE internal influnces in the business environment
Products
Location
Management
Resources
Business Culture
A bakery acquiring a wheat farm is an example of _________________ integration.
A bakery merging with another baker is known as _________________________ integration
Vertical
Horizontal
A ______________ - scientific approach to management is characterised by production line methods, hierarchical organisational structure, clear lines of authority, autocractic leadership and rules and procedures.
An example is McDonald's.
Classical