Business Classification
The size classification that Bunnings falls under - One reason why it might be
What is Large? - 200+ employees/annual revenue (billions)/MNC (global)
A period of economic growth
What is a boom period?
The stages of a business cycle
What is establishment, growth, maturity and post maturity?
The group of people who purchase goods and services
What are consumers?
Give 100 points to a team of your choice! It cannot be your own team.
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The most common legal structure for a large business
What is a public company?
Shark Tank product name watched in class
Scrub daddy
The two types of integration
Types of internal stakeholders - name 3
What is managers, employees and owners?
When a sole trader or partnership business ceases trading due to unpaid debts
What is bankruptcy?
The amount of employees in a small business
What is 5-19?
LOSE 300 POINTS!
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The three stages of post maturity
What is renewal, steady state, decline?
Difference between shareholder and a stakeholder? Describe both?
A shareholder owns part of the business, while a stakeholder is anyone impacted by the business’s actions.
The people who cause involuntary cessation
What are creditors?
Three sources of finance for large businesses
What are; cash reserves, retained profit, sale of shares or loans from domestic and overseas institutions?
Periods of high and low economic activity, booms and recessions
What is the economic cycle
An acquisition (takeover) occurs when one business takes control of another business by purchasing a controlling interest in it.
What is Acquisition?
POINTS GET CUT IN HALF!
poor u
A reason why a business may enter a stage of decline
increased competition/reduce its market share/lower profits/consumer preferences change/business does not adapt demand can fall
The definition of a quaternary business and give an example
Services that involve the transfer and processing of information and knowledge
. E.g Telecommunications, Finance, Education
Alexander owns a fish shop and recently there has been a shortage of snapper fish which is one of the best sellers. Whitney has just started a fish shop in the same vicinity as Alexander. He has seen a decline in customers. The external influence that has affected the business...
What is competitive situation
The stage you would seek for venture capitalists
What is the growth stage?
Name four stakeholders in a business
What is customers, employees, managers, shareholders, environment, society/general public, govt.
The main functions of liquidation
What are to determine debts owed by company, scrutinise reasons for business failure, and to deregister or dissolve company