Unit 1.5 External enviroment AND 1.6 Growth and evolution
100
What are the four main sectors of the economy?
What is
Primary, Secondary, Tertiary, Quaternary
100
What two main ways beginning with "P" can classify organisations?
What is;
* Public
* Private
100
What is the acronym that describes a good objective?
What is
SMART
100
Name two stakeholders common to most businesses.
What is
Investors, Management, Customers, Suppliers, Employees, Local Community, Government.
100
This occurs when the general price level in an economy continuously rises. It is measured by changes in the cost of living for the average household.
What is
Inflation
200
What sector does fisheries lie in?
What is
Primary sector
200
What is the term for a company whose risk to investors is limited by what they have invested?
What is
Limiteed liability
200
What is the most common objective of private sector businesses?
What is
PROFIT MAXIMAZATION !!!
200
Define the term "external stakeholder".
What is
An individual/group who has interests in an organisation but who lies outside it.
200
Governments sometimes use this to try and safeguard it´s national industries form overseas competitors.
What is
protectionist measures
300
What are the four sectors in the CHAIN OF PRODUCTION, called?
What is
Production -> manufacturing -> Service -> consumer
300
Name the two types of unlimited liability companies
What is
Soletrader
Partnership
300
A document, stating the overall purpose of an organization (why we are here). It´s the foundation for setting the objectives of a business the
What is
a mission statement
300
What are the responsibilities of a business toward the government?
What is
Follow regulations, pay company/corporation tax.
300
The most efficient scale of operation for a business, which occurs at the lvl. of output where the average cost of production are minimized.
What is
The OPTIMAL level of output.
400
An owner or operator of an organization who manage, organize and plan the other 3 factors of production
What is an
Entrepreneur
400
A non-profit social enterprise that provide voluntary support for good causes (from society point of view), fx. protection of animals or the environment
What is
Charities
400
The long termed goals of a business.
What is
Aims
400
A group of Individuals with a common concern (such as environmental protection) who seeks to place demands on an organization to act in a particular way or to influence a change in their behaviour.
What is
pressuregroups
400
A growth strategy, that combines the contributions and responsibilities of two different organizations in a shared project by forming a separate legal enterprise.
What is
a joint venture
500
A document with information concerning;
* the business
* the product
* the market
* the finance
* the personnel
* the marketing
What is
a business plan
500
A type of financial service aimed at entrepreneurs of small businesses, esp. females and people with very low income.
What is
Microfinance
500
The four growth strategies, according to the ANSOFF matrix
What is
* market penetration
* product development
* market development
* diversification
500
Name two ways of resolving stakeholder conflict.
What is
Arbitration, worker councils, worker participation, stakeholders as directors, profit sharing, share options.
500
Occurs when a business amalgamates with a firm operating in an earlier stage of production, e.g a car manufacture that acquires a supplier of tyres or other components.