refers to the surrounding conditions in which the business operates. It can be divided into the two broad categories: external and internal.
What is the business environment?
100
are the funds the business uses to meet its obligations to various creditors.
What is financial resources?
100
complete concentration by one firm in the industry.
What is a Monopoly?
100
include equipment, machinery, buildings, and raw materials.
What is Physical resources?
100
the process that sees people, goods, money, and ideas moving around the world faster and more cheaply than before.
What is Globalisation?
200
include the knowledge and data required by the business, such as market research, sales reports, economic forecasts, technical material and legal advice.
What is information resources?
200
includes those factors over which the business has very little control.
What is the external environment?
200
where a small number of larger firms have a greater control over a market.
What is an oligopoly?
200
are rules, laws or orders that businesses must follow
What is Regulations?
300
It occurs when economic growth meets the needs of the present population without endangering the ability of future generations to meet their needs.
What is ecological sustainability?
300
the activities needed to assist the core operations or prime function of business.
What is Support services?
300
includes those factors over which the business has some degree of control.
What is the internal environment?
300
Westpac was top of the list, with ANZ 19th, CBA 25th, Stockland Real Estate 32nd and Wesfarmers 92nd.
In the 2014 Global 100 list, which five Australian companies featured?
300
a business that sells a similar range of goods and services.
What is a complementary business?
400
where there is a large number of small firms that sell similar products. They are unable to differentiate products from each other and so can only use price as a way of achieving market share.
What is perfect competition?
400
refers to the ability of a business to develop strategies that will ensure it has an edge over its competitors for a long period of time.
What is the sustainable competitive advantage?
400
the periods of growth and recession that occur as a result of fluctuations in the general level of economic activity.
What is Economic Cycles?
500
refers to the number of competitors in a particular market.
What is Market concentration?
500
where there is a large number of buyers and sellers in a particular market.
What is monopolistic competition?
500
the employees of the business and are generally its most important asset.
What is human resources?
500
the removal of government regulation from industry, with the aim of increasing efficiency and improving competition.