Legal Structures and Business Sizes
A business with 118 employees would be considered to be a _________ sized business
Medium
Which management function involves advertising and promotion?
Marketing
What does 'internal' mean for a stakeholder?
They are inside the business
Who do trade unions represent?
Employees
Capital city of Spain
Madrid
What type of business has 'Pty Ltd' at the end of its name?
Public listed company
What is the most common objective of a business?
To make a profit
True - they have a vested interest in the business
What is market share?
The proportion (share) of the sales that a business makes out of the total sales in the market
Age of Jojo Siwa
21
This is when your business becomes a separate legal entity
Incorporation
Give an example of how Woolworths could be socially responsible
Logical suggestion
What does CEO stand for?
Chief Executive Officer
Interest/lobby group
Spell my last name
Strachan
Give two reasons why Apple would be considered a large sized business
Over 200 employees, multiple locations, public listed company, complex business structure, trades worldwide
What does the 'controlling' function involve?
A system of maintaining standards in products by testing a sample of the output against the specification (checking the quality of a product before it is sold)
What are 2 objectives that a manager of a business has?
Achieve the objectives of the business e.g. to make a profit, satisfy other stakeholders
Name 2 competitors for McDonald's
Hungry Jack's, KFC, other fast food
What is Ms Dixit's AFL team?
Hawthorn Hawks
Which two types of legal structures are unincorporated?
Sole trader and partnership
Name 5 of the management functions
Managing, Organising, Distributing, Forecasting, Controlling, Marketing, Production
Name 3 things that could help to attract and retain employees
Above average pay, good working conditions, discounts, social events, food etc
Name 5 external stakeholders
Customers, competitors, trade unions, suppliers, lobby groups, Government, technological trends
Hollows house is named for Fred Hollows - what was his job?
Ophthalmologist