Types of organizations
Organizational Objectives
Stakeholders
Business Tools
Growth
100
What are the three types/forms of business?
What is sole trader, partnership, and corporation
100
What is a SMART objective? (Identify each letter)
What is Specific, Measurable, Attainable, Relevant/Realistic, Time-bound
100
What is the difference between shareholders and stakeholders?
What is shareholders own stock and stakeholders are all groups with interest in a business.
100
Identify the factors of a SWOT analysis AND what is the purpose?
What is Strengths, Weaknesses, Opportunities, Threats AND forming objectives - growth
100

This growth strategy involves the right to trade using another company’s products, brand name and corporate logo.

Franchising

200
What is unlimited liability? What two forms of business have unlimited liability?
What is - business owner is personally responsible for debts.
200
Name two reasons for starting your own business
What is G (Growth) E(Earnings) T(Transference/Inheritance) C (Challenge) A(Autonomy) S(Security) H(Hobbies)
200
Identify the three internal stakeholders.
What is shareholders, managers/directors, and employees.
200
An increase in the level of unemployment is an example of what external factor found in a STEEPLE analysis?
What is Economic change
200

This form of external growth involves two or more companies agreeing to form a single, larger company thereby benefiting from operating on a larger scale.

Merger

300
What is the major disadvantage of a public limited company (that a private limited company does not have to do)?
What is - have to publish financial information to the public.
300
What is the purpose of a business plan?
What is document outlining the details of a business and used for planning and obtaining finances. Includes aims and objectives, marketing research and strategies, pricing strategies, sources of finances, competitor analysis. Does not include ratio analysis or financial statements.
300
Identify four external stakeholders.
What is customers, suppliers, competitors, government, social interest groups, community.
300
Draw the Ansoff's Matrix (including 6 titles and then the 4 strategies.
What is Products, Markets, New & Existing, New & Existing, Market Penetration, Product Development, Diversification.
300

What is one factor causing diseconomies of scale?

What is poor communication, poor managerial coordination, poor employee morale, bureaucracy, too many meetings, bad organization

400
What is one disadvantage of a partnership?
What is sharing profits, arguments, less control of the business, etc...
400
What is the difference between the mission and vision statement of a business?
What is vision points to the future and mission is now or why are we doing this.
400
Identify the external stakeholder most concerned with compliance of laws, economic growth, job creation and taxes.
What is government
400
What strategy is a medium risk growth where a business creates a new product in an existing market?
What is market development
400

These are cost-saving benefits enjoyed by a business as it increases the size of its operations, i.e. lower average costs (the cost per unit).

Economies of Scale

500
What document must be issued before a limited company can start trading?
What is Certificate of Incorporation.
500
Completely label the rocket identifying mission and vision, objectives, aim, strategies and tactics.
What is (see diagram)
500
Identify one possible conflict between a business and an external stakeholder.
What is varies
500
Provide an example of a Product Development growth strategy (Ansoff's Matrix) for McDonald's.
What is new product, existing market - answer varies
500

These are formed when two or more organizations join together to benefit from external growth without having to set up a new separate legal entity.

Strategic Alliances

M
e
n
u