Business 1
Four common methods of classifying businesses are:
Size, industry sector, geographic spread and legal structure
What does SMART stand for when setting a goal?
Specific, measurable, achievable, realistic and time bound
Classical, behavioral and contingency
How old is Mr Schwab's daughter?
2
When is Miss Smith-Hughes birthday?
24th of April
Name a business case study we have examined in class.
-
There may be conflict between financial, social and environmental goals.
What is the primary focus of human resource management?
Employee retention
What year did Mr Schwab get married?
2019
The name of Miss Smith-Hughes dog.
Ernie
List a benefit of staff training.
Adapt to changes, Provide better customer service, Participate effectively in workplace teams and gain promotion
Identify three key factors that influence a business's decision-making process.
Market trends, competition, and internal capabilities
What is the role of management in a business?
Decision-making and coordinating resources to achieve business goals.
What is Mr Schwab's dog's names?
Mavis and Mia
What is Miss Smith-Hughes favourite colour?
Orange
Define the term 'strategic planning' in the context of business management.
-
A medium business is:
A business with 20-199 employees
Explain liquidation.
When an independent and suitably qualified person (the liquidator - is appointed to take control of the business with the intention of selling all the company's assets in an orderly and fair way to pay creditors.
What is Mr Schwab's daughter's name?
Harper
Three other names suggested to be on the back of Miss Smith-Hughes 2025 Jersey
Girl Boss, Blossom, Bubbles, Smith Dawg, C-Dawg, Chazza, Smitty, Girly-Pop, Slay, Velma, Smith (TV), Hughes (TV), Chazza, JeremyFan12
Define a Quaternary industry.
An industry involving the transfer and processing of information or knowledge. E.g. telecommunication, computing, finance, education.
Name the 6 main internal influences.
What happens to a business in the Post-Maturity phase of the life cycle?
It faces three possible outcomes: steady-state, decline or renewal.
If Mr Schwab could have any superpower, what would it be?
Invisibility
What odd purchase did Miss Smith-Hughes make off Facebook marketplace 2 weeks ago?
132 Copies of National Geographic Magazine printed between 1980 and 1995