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Business Studies 3.2 External Factors Flashcards | StudBud
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Business Studies 3.2 External Factors
Business Studies 3.2 External Factors
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Definitions of key words and concepts for NCEA Level 3 3.2 External factors
Flashcards
13 cards
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Questions
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Answers
1
Which of these is a strategic response?
Middle management changing price strategy to premium pricing
Senior management moving manufacturing to China
Middle management hiring a new employee
Senior management purchasing additional stock at Christmas
2
Which of the following is NOT unlawful discrimination under the Human Rights Act 1993?
Discrimination on age
Discrimination on sex
Discrimination on political opinion
Discrimination on qualifications
3
What is a 'strategic response' by a business?
A reaction to internal factors only eg innovation
Changing multiple parts of the business eg size, scope, time
Changing one part of the business eg size, scope, timeframe
A reaction to external factors only eg PESTLE
4
The triple bottom line is...
Ensuring three different types of financial reporting
Reporting economic, environmental and social sustainability
Reporting on increases in cashflow, assets, and income
Ensuring a triple check as part of quality management
5
Globalisation is the idea of...
using social media to facilitate trade.
an interconnected world in terms of international air travel
taking rights away from individuals.
an interconnected world with free flow of capital and goods.
6
The business cycle is the tendency for...
for economic growth to periodically expand and contract.
of economic speed to increase indefinitely
for economic growth measured in GDP to increase (cycle up).
for economic growth measured in NDL to decrease (cycle down)
7
Cultural intelligence is defined as the situation when businesses have the ability...
to import a high level of employee diversity.
to understand other's beliefs, values and attitudes
to use systems to preserve their own corporate culture.
to digitally store information about cultures.
8
Which of the following is NOT a government support agency for international business expansion?
Companies Office
BusinessNZ
Immigration New Zealand
New Zealand Trade and Enterprise
9
The quadruple bottom line adds...
food supply to the triple bottom line.
quality assurance to the triple bottom line.
return on investment to the triple bottom line.
cultural sustainability to the triple bottom line.
10
Economic growth is NOT...
a factor that will not affect the success of a business
the value of all g/s and services produced within a country
measured by gross domestic product (GDP)
a time when incomes and profits tend to rise
11
What is money?
A childish word for income, expenses, revenue and profit.
A good word.
A word that will help you get a Not Achieved in BUS301.
The root of all evil.
12
What is a multinational firm?
A firm that works for the government
A firm that supports different political parties
A firm that operates in multiple different countries
A firm that sells multiple different products
13
An economic recession is defined as...
two consecutive quarters (6 mths) of negative growth in GDP.
two consecutive quarters of positive growth in NDL
one quarter (3 months) of negative growth in GDP.
one quarter (3 months) of positive growth in NDL.
