BUSINESS ENVIRONMENTS
Name the THREE business environments
Micro, Market and Macro Environments.
What is entrepreneurship?
The process of identifying opportunities and starting a business.
What does CSR stand for?
Corporate Social Responsibility.
Define recruitment.
The process of attracting suitable applicants.
What is brainstorming?
Generating many ideas to solve a problem.
Which business environment includes customers, suppliers and competitors
Market Environment.
Name the FOUR factors of production.
What does CSI stand for?
Corporate Social Investment.
Define selection.
The process of choosing the best applicant.
Name FOUR problem-solving techniques.
What does PESTLE stand for?
Political, Economic, Social, Technological, Legal and Environmental factors.
What is a business opportunity?
A gap in the market that can be turned into a profitable business.
Name FOUR benefits of CSI programmes.
Name FOUR internal recruitment sources.
State FOUR barriers to creative thinking.
Identify FOUR challenges in the macro environment
Name FOUR forms of ownership.
State FOUR causes of conflict in the workplace.
Differentiate between recruitment and selection.
Recruitment:
Selection:
Name FOUR benefits of creative thinking.
Explain how businesses can adapt to technological challenges in the macro environment.
State THREE advantages and THREE disadvantages of a Private Company.
Advantages:
Disadvantages:
Explain how businesses can deal with conflict.
Explain FIVE benefits of employee training.
A business experiences declining sales and customer complaints. Recommend FIVE creative-thinking strategies that management can use to solve the problem.