Business Roles
Business Types
Influences
Lifecycle
Management
100
Which of the following best represents the main role of business? (A) to combine inputs and transform them into a finished good or service (B) to employ disadvantaged Australians (C) to improve the quality of life of its consumers (D) to be recognised for their role in community programs
What is (A) to combine inputs and transform them into a finished good or service
100
Helen and Sam have purchased a cafe that will operate six days per week. Which of the following describes how this business may be classified? (A) sole trader and local (B) partnership and national (C) company and Tertiary (D) partnership and local
What is (D) partnership and local
100
Which of the following represents a social influence on business? (A) increased economic activity (B) increased access to debt from foreign sources (C) the introduction of e-commerce strategies by the main competitor of the business (D) growing concerns regarding the level of obesity among Australian students
What is (D) growing concerns regarding the level of obesity among Australian students
100
Which of the following challenges would a business most likely face during the establishment stage of the business life cycle? (A) limited customer awareness (B) strong competition (C) issues related to stock control (D) motivation of employees
What is (A) limited customer awareness
100
What are the elements of effective management?
Planning, Organising, Leading and Controlling
200
Which of the following concepts is used to define the process of transforming inputs into outputs? (A) value good analysis (B) production analysis (C) value chain analysis (D) input–output analysis
What is (C) value chain analysis
200
The current owners of the Tarcheck Fashion Label are considering the possibility of issuing shares and listing the business on the Australian Stock Exchange. Which of the following legal structures represents the future of this business? (A) sole trader (B) partnership (C) private company (D) public company
What is (D) public company
200
Which of the following best describes the main role of trade unions? (A) to promote the interests of employers within the business environment (B) to promote the interests of government in an independent and unbiased manner (C) to seek improved wages and working conditions for employees (D) to work with businesses and develop more effective occupational health and safety regulations
What is (C) to seek improved wages and working conditions for employees
200
Which of the following reasons describes the cause of involuntary cessation for a business? (A) loss of enthusiasm and lack of ideas from the owner (B) the owner’s decision to retire (C) the inability of the business to repay debt (D) declining profits
What is (C) the inability of the business to repay debt
200
What are the 9 identified skills of management in our syllabus
What is interpersonal, communication, strategic thinking, vision, problem-solving, decision-making, flexibility, adaptability to change, reconciling the conflicting interests of stakeholders
300
A pharmaceutical company has developed medication to assist sufferers of arthritis. Which of the following roles would benefit consumers? (A) innovation (B) choice (C) quality of life (D) employment
What is (C) quality of life
300
Rio Tinto and BHP Billiton are two of Australia’s largest mining companies. Which of the following industries could the businesses be classified as? (A) primary (B) secondary (C) tertiary (D) quaternary
What is (A) primary
300
Which of the following best describes the impact on business of a downturn in economic activity? (A) decreased consumer confidence, lower levels of investment and declining profit (B) increased consumer confidence, higher levels of investment and declining profit (C) decreased consumer confidence, lower levels of investment and increasing profit (D) increased consumer confidence, higher levels of investment and increasing profit
What is (A) decreased consumer confidence, lower levels of investment and declining profit
300
Which of the following challenges is a business likely to face during the maturity stage of the business life cycle? (A) limited customer awareness (B) strong competition (C) loss of customer interest (D) limited product innovation
What is (C) loss of customer interest
300
In the video "Japan - building for the future", what is identified as the opportunity that Japan had following the earthquake? What types of goals would a business identify this as?
What is a chance to build a better Japan, environmental and social.
400
A group of friends have developed an online feature allowing friends to interact with each other. They are now seeking financial investors for the concept to develop. Which of the following roles would the investors be engaged in? (A) innovation (B) entrepreneurship (C) quality of life (D) profit
What is (B) entrepreneurship
400
A group of three solicitors are seeking to establish a law firm that deals in the area of environmental law. Each of the solicitors is seeking to ensure that their personal assets are separate from the business. Which industry would this business be mostly likely to be classified as?
What is Quaternary Industry
400
A group of foreign investors are seeking to establish a new airline in Australia. Which of the following factors may impede their ease of entry? (A) customer awareness, competitor behaviour and access to materials (B) cost of establishing the business, access to materials and government regulations (C) customer awareness, cost of establishing the business and competitor behaviour (D) access to materials, cost of establishing the business and customer awareness
What is (B) cost of establishing the business, access to materials and government regulations
400
Helsung Electronics has begun to experience a slowdown in sales and a decline in market share. Increasing competition is also a considerable threat for the business. Which stage of the business life cycle is the business operating in? (A) establishment (B) growth (C) maturity (D) post-maturity
What is (C) maturity
400
What is the focus of each of the approaches of management
What is classical approach is product focused, behavioural approach people focused and contingency approach environment focused.
500
What is the name of the team that the "Honey Badger" plays for?
Who is the Western Force
500
Watch the following video... Where is this basketball game taking place?
Where is the Staples Centre, Los Angeles
500
Watch the video. Where in the world was Alfred when he encountered "the Bandit"?
Where is Rangoon, Burma
500
Watch the video. What is the largest nation that is surrounded entirely by another nation?
Where is Lesotho?
500
Watch the video. What does Steve Jobs say is the key to teamwork?
What is trusting that the other person is going to come through without having to watch them all the time.
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