Business Criteria
What are the four business criteria used to evaluate business performance?
Competitiveness, effectiveness, efficiency and stakeholder satisfaction.
What is the capital city of Japan?
Tokyo
What does SWOT stand for?
Strengths, weaknesses, opportunities and threats.
How many sides does a hexagon have?
Six
Define innovation.
Introducing or improving products, services, processes or business strategies to create value and improve performance.
What does competitiveness measure?
How well a business competes with other businesses in its market.
How many continents are commonly recognised?
Seven
Are strengths and weaknesses internal or external factors?
Internal
Which planet is known as the Red Planet?
Mars
What stage of the business life cycle is generally associated with stable profits and slower growth than the growth stage?
Maturity
A business aims to sell 500 memberships but sells only 420. What criterion measures its achievement of this goal?
Effectiveness
Which country is home to the Great Pyramids of Giza?
Egypt
A new international market becomes available to a business. Which SWOT category does this represent?
Opportunity
What is the chemical symbol for gold?
Au
Name one strategy a mature business could use to reduce operating costs.
Outsource suitable activities, adjust supplier chains or improve processes to reduce waste.
A bakery makes the same 200 loaves using one fewer hour and 2 kg less flour. Which criterion has improved, and by how much?
Efficiency; it saves one hour and 2 kg of flour.
What is the largest ocean on Earth?
The Pacific Ocean.
A business has a strong management team but lacks capital to fund expansion. Identify the two SWOT categories.
Strength: strong management team. Weakness: lack of capital.
How many players from one team are on the court in a standard basketball game?
Five
A café introduces unique menu items to stand out from nearby competitors. How could this innovation improve competitiveness?
It differentiates the café and gives customers a reason to choose it.
What is the difference between effectiveness and efficiency? Give a business example of each.
Effectiveness means achieving the desired goal; efficiency means using time, effort and resources well.
What is the capital city of France?
Paris
Explain why a new competitor is a threat rather than a weakness in a SWOT analysis.
A competitor is external; a weakness is an internal limitation of the business.
What is the square root of 144?
12
Explain two ways innovation can help a mature business remain competitive.
It can retain customers, differentiate products, respond to changing needs, reduce costs or improve efficiency.
A gym aims to gain 100 members but gains only 80. Calculate its percentage achievement of the target.
80% (80 ÷ 100 × 100).
What is the name of the imaginary line at 0° latitude?
The Equator.
A business has strong brand recognition and efficient operations but faces a new competitor and currency fluctuations. Classify these factors in a SWOT analysis.
Strengths: brand recognition and efficient operations. Threats: new competitor and currency fluctuations.
Which organ pumps blood around the human body?
The heart.
A restaurant improves its ordering system, reducing errors and waiting times. Explain how this could improve both efficiency and stakeholder satisfaction.
It reduces wasted time and errors, improving efficiency; faster, more accurate service may increase customer satisfaction.
A fast-food restaurant introduces self-service kiosks. Customers wait less, some older customers struggle with the technology, and employees fear losing hours. Evaluate the impact on stakeholder satisfaction.
Some customers benefit from faster service, while others and employees may be dissatisfied. Overall satisfaction depends on how management addresses these needs.
Which country is both a country and a continent?
Australia
A mature Australian business wants to expand overseas. Explain how SWOT analysis can help management decide whether to proceed.
It helps assess internal capabilities and limitations against external opportunities and threats before committing resources to expansion.
What is the name of the process by which plants use sunlight to make food?
Photosynthesis
What is research and development (R&D), and why can it be important for innovation?
R&D involves researching, designing, testing and improving products or processes. It helps businesses develop solutions, create value and maintain competitive advantage.
A café earns $8,000 profit weekly and serves 200 customers daily. A competitor earns $6,000 and serves 300 daily, with faster service and better reviews. Evaluate which café performs better using at least three business criteria.
The first café leads in profit. The second appears stronger in efficiency and stakeholder satisfaction. Competitiveness depends on other factors too, so neither necessarily performs best across every criterion.
What major wall was built across northern China over many centuries?
The Great Wall of China.
A fast-food business has strong brand recognition and bulk-buying power, but high staff turnover and culturally unsuitable products in some markets. It sees growing demand for healthier food, while local competitors are expanding. Recommend two strategies based on its SWOT analysis.
Introduce locally adapted healthier products and improve staff recruitment, training and retention. Monitor competitors when entering new markets.
In tennis, what term describes a score of zero?
Love
Re-Time developed wearable sleep technology over multiple design iterations and continued investing in R&D. Explain how ongoing R&D could help the business compete in a global market.
It can improve product features, meet user needs, differentiate the product and help attract customers or grow market share internationally.
A business introduces a new process that reduces costs by 15%, but customer complaints increase and sales targets are missed. Evaluate the strategy using all four business criteria and recommend a course of actio
Efficiency improves, but effectiveness and stakeholder satisfaction may decline, threatening competitiveness. Investigate complaints and improve the process while retaining worthwhile cost savings.
Which two countries share the world's longest international land border?
Canada and the United States.
A business is considering global expansion. It has a strong brand and efficient operations, but limited capital. Demand is growing overseas, while exchange-rate volatility and strong local competitors create risks. Evaluate whether it should expand now, using SWOT and business criteria.
Expansion may increase market share, but capital limitations, exchange-rate risk and competition threaten profitability. Recommend assessing financial capacity and demand, considering phased expansion, and evaluating effectiveness, efficiency, competitiveness and stakeholder satisfaction.
A product costs $80 and is discounted by 25%. What is the sale price?
$60. The discount is $20.
A mature business faces falling customer loyalty, rising costs and new competitors. Evaluate how a coordinated innovation strategy could improve its competitive advantage. Use a specific business example.
identifies the challenges, proposes relevant product or service innovation and process improvements, explains effects on customers and costs, and links these to competitiveness. For example, a fast-food chain could introduce locally adapted healthier meals and improve mobile ordering. It should consider investment costs and customer acceptance