Syllabus
ROB
TOB
Influences
Growth and decline
RANDOM
100
What is the name of the first Preliminary Topic?
Nature of business
100
What are the two business terms used to describe goods and services as either physical objects or non-physical items?
Tangible and intangible
100
Christian’s Accounting Services employs 160 people. Classify this business according to its size, legal structure, and industry sector.
What is a medium business, sole trader, quaternary sector?
100
What are groups or individuals who have an interest in the business known collectively as?
Stakeholder
100
What are the four stages of the business life cycle?
establishment, growth, maturity and post maturity
100
This Australian car manufacturer’s “lion and stone” logo was an iconic symbol before it ceased local production in 2017.
What is Holden?
200
What are the four subtopics in the Nature of business in order?
role of business, types of business, influences in the business environment, business growth and decline.
200
Define input.
Resources used to create goods and services.
200
A business can be classified according to these four main factors.
its size, legal structure, industry sector and location.
200
Which type of market concentration consists of a small number of larger firms that dominate the market?
Oligopoly
200
A business begins experiencing declining sales and market share. In which stage of the business life cycle would this business be in?
Post-maturity
200
Guess the logo
Burger King
300
Fill in the blanks:
Role of business
The nature of a business
- producing g _ _ _ _ and s _ _ _ _ _ _ _
- profit, e _ _ _ _ _ _ _ _ _, incomes, choice, innovation, entrepreneurship and risk, wealth and quality of life
Goods and services, employment
300
What two roles so businesses have in the Australian economy?
economic role and social role
300
According to the Australian Bureau of Statistics, firms with fewer than 200 full-time equivalent employees or less than $10 million turnover are classified as these.
What are small to medium enterprises?
300
Write down 3 external influences.
●Economy
●Finance
●Geography
●Society
●The law
●Politics
●Institutions
●Technology
●The competitive situation
●Markets
300
When two businesses combine to form a single entity, such as the uniting of Exxon and Mobil to create one of the world's largest energy companies, what is this process called?
What is a merger
300
What is the name of the oldest football club?
Sheffield FC founded in 1857
400
Sing the four stages of the business life cycle...
Establishment, GROWTH, maturity, POST-MATURITY!
400
What are two types of income employees can earn?
wages and salaries
400
Businesses like Google (information technology) and universities (education) operate in this industry sector, while hospitals and hotels are examples of businesses in this higher-level service sector, focused on health and hospitality.
What are the quaternary and quinary industries?
400
These forces greatly affect a business’s ability to compete in the market and influence whether customers are willing and able to spend money.
What are economic forces?
400
When a business expands by acquiring companies at the same stage of production, like Facebook purchasing Instagram, it shows one form of integration. If it acquires businesses at different stages of production, such as a bakery buying a wheat farm, it demonstrates another type. What are these two growth strategies called?
What are horizontal and vertical integration?
400
Name the best-selling book series of the 21st century?
Harry Potter, J. K. Rowling
500
True or False. In the nature of business 6 outcomes are assessed.
FALSE. There are 5 outcomes: P1.P2,P6,P7,P8
500
What is one way that governments receive money from businesses that helps fund public services?
Taxes e.g. income tax, payroll tax, fringe benefits tax, goods and services tax
500
Write down 3 advantages and 3 disadvantages of being a sole trader that you have learnt from the textbook.
500
This process involves removing or reducing government rules and restrictions in an industry, often to encourage competition and create more business opportunities.
What is deregulation?
500
When a business is forced to close due to reasons such as bankruptcy, court orders, or failure to pay debts, what is this process known as?
What is involuntary cessation?
500
Guess the movie based on the information: A girl from Africa is elected queen, breaks her crown.
Mean Girls
600
Recall each dot point under "Influences in the business environment"
- external influences – economic, financial, geographic, social, legal, political, institutional, technological, competitive situation, markets
- internal influences – products, location, resources, management and business culture
- stakeholder
600
This type of income is earned by business owners who invest capital and take risks, rather than by employees receiving wages or salaries.
What is profit?
600
Guess the business. This Australian supermarket chain started as a single small store in 1924, grew to become a private company, and eventually transitioned to a public company listed on the Australian Securities Exchange. Over time, its ownership structure allowed for widespread investment from both institutional and individual shareholders, illustrating the shift from sole trader to public company.
What is Woolworths?
600
Many large companies, including Telstra, have restructured their organisations to reduce layers of hierarchy, enabling faster decision making and improved communication. What is this management approach called?
What is flatter management (or a flat organisational structure)?
600
This common cause of business failure occurs when owners neglect to plan properly or update their strategies, and is often summed up by the phrase, “Businesses don’t plan to fail, they fail to ____.”
What is plan?
600
In 2000, this British telecom giant made one of the largest acquisitions in history at the time by purchasing Germany’s Mannesmann in a deal valued at over $180 billion.
What is Vodafone?