An increase in the level of unemployment is an example of ____________
What is Economic change
100
What is the purpose of an Ansoff's Matrix?
What is a analytical tool that a business uses for growth and expansion. It directly analyzes products and the market.
100
What is the difference between a mission and vision statement?
What is mission are goals for now and vision are the aims of the business.
Mission statements change once a business reaches its objectives and vision should never change.
100
What are the strategies for external/inorganic growth? (All four)
What is Merger, Acquisition, Joint Venture, and Strategic Alliance
200
Explain what unlimited liability is
What is an individual is personally financially responsible for any loss of a business. Sole Trader and Partnership
200
What are the four strategies in an Ansoff's Matrix?
What is Market Penetration, Product Development, Market Development, and Diversification
200
Explain the difference between stakeholders and shareholders
What is shareholders is a type of stakeholders. Shareholders are individuals or businesses who have invested in a business and have ownership.
200
One company buying another company is an example of what type of inorganic growth?
What is acquisition
300
Which document is issued to a limited company before it can start trading?
What is Certification of Incorporation
300
The low-risk growth option where firms operate in a known market with familiar products is know in the Ansoff's Matrix as
What is Market Penetration
300
What are two reasons for a business plan?
What is decreases risk for potential problems and financial proposals
400
McDonald's introduction of salads and alternative burgers has helped it to raise sales in existing markets. This describes which Ansoff's strategy?
What is Product Development
400
Name the 6 external stakeholders
What is Customers, Competition, Suppliers, Government, Special Interest Groups, and Community
400
A merger between two flour mill companies is an example of what type of merger?
What is Horizontal intergration
500
Explain the difference between a private and public corporation.
What is private cannot raise money through the stock market. Public company can raise money through the stock market, but must follow more in depth regulations and guidelines.
500
Provide an example of Product Development
What is new product in an existing market.
500
What is a joint venture AND provide an example!
What is two businesses that remain independent work together on a project to split risks, costs, etc.
Car companies