Units 1 -4
An idea or thought about a business
What is the seed stage?
Give an example of a trend
Depends on answer
Name all four business functions
Human Resources, Operations, Marketing and Finance
Name the four evaluation elements
Stakeholder Satisfaction
Efficiency
Effectiveness
Competitiveness
Who answers the most questions in class?
Max
Name two expansion strategies
Various answers
Factors of the External Operating Environment
Customers, Competitors, Interest Groups, Suppliers
Revenue, Expenses, Profit, Investment
What is Finance Business Function?
Apple Music has 13% of the market share and Spotify has 32%
What is competition?
Person learning another language
Luke
The main company that creates the franchise and still runs the marketing and branding
What is the franchisor?
Mark Zuckerberg
What is an entrepreneur?
Main activities Product development, Promotional aspects, Distribution, Pricing Strategies
What is Marketing function?
Bonus 300
Bonus 300
Person who was injured the longest
Khan
What are the 4 Ps of marketing?
Product, Price, Promotion and Place
The amount of money someone has available after they pay taxes and household bills
What is disposable income?
Production facility, production scheduling, Quality Control
What is Operations function
Consumers are boycotting some companies that have links with Israel
What is stakeholder satisfaction?
Who has been late the most times
Pyper
Name 5 analysis tools
Various
Name the six business goals
Growth, Profit, Market Share, Employment Sustainability, societal needs and wants
Bonus 500
Bonus 500
Operating an ice cream production line all year round at its optimal capacity
What is Efficiency?
What was the song Ms White sang at Xmas Pub Choir
My girl