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IB Business 1.5/1.6 Flashcards | StudBud
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IB Business 1.5/1.6
IB Business 1.5/1.6
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IB business management, 1.5, 1.6, external environment, steeple analysis, growth and evolution
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Answers
1
increases in the level of a country's GDP
recession
exchange rate
economic growth
globalization
2
the growing integration of countries through the increased freedom of global movement
international awareness
globalization
multi-nationalism
Integration
3
framework for analyzing the external environmental factors affecting business obj/strategies
Globalization
PESTLE Analysis
STEEPLE Analysis
Globalization
4
no restrictions or trade barriers exist that might prevent or limit trade between countries
Free Trade
International Trade
Strategic Trade
New Trade
5
2 or more firms agree to form as a new organization, losing original identities
joint venture
merger
franchise
axquisition
6
the value of one currency in terms of another currency
employment rate
economic rate
exchange rate
currency rate
7
a business that uses the name, logo, and trading systems of an existing successful business
merger
franchise
joint venture
strategic alliance
8
the use of computers and computer-controlled machinery to speed up the production process
Computer-Aided Design
Computer-Aided Manufacturing
Computer-Aided Marketing
Computer-Aided Production
9
using computers and IT when designing products
Computer-Aided Marketing
Computer-Aided Design
Computer-Aided Manufacturing
Computer-Aided Product
10
the rate of change in the average level of prices
inflation
exchange rate
recession
currency rate
11
agreements between two firms in which each agrees to commit resources to achieve an objective
acquisition
strategic alliance
merger
joint venture
12
Joint ventures, mergers and strategic alliances are all examples of what type of growth
horizontal
organic
internal
external
13
changes in government spending levels and tax rates
fiscal policy
inflation
unemployment
recession
14
maximum output that can be achieved using the available resources
Purchasing Economies
Scale of Operations
Economies of Scale
Diseconomies of Scale
15
The economies are often known as bulk-buying economies
Purchasing Economies
Buying Economies
Managerial Economies
Financial Economies
16
caused by rising costs forcing businesses to increase prices
cost-push inflation
demand-pull inflation
17
caused by excess demand in an economy
cost-push inflation
demand-pull inflation
18
2 or more businesses split costs, risks, control and reward of a project
joint venture
acquisition
merger
strategic alliance
19
integration with a business in the same industry but a supplier of the existing business
horizontal integration
forward vertical
conglomorate
backward vertical
20
six months of falling GDP
globalization
unemployment
recession
economic growth
21
the number of people in an economy willing and able to work who cannot find employment
economic issue
unemployment
ageing population
recession
22
3 Main Management Problems
Alienation of Workforce, Slow Decision Making, Communication
Communication, Slow Workers, Poor Coordination
Slow Decision Making, Communication, Underpaid Workforce
Lack of Pay, Communication, Chain of Command
23
changes in the level of interest rates which make loan capital more or less expensive
monetary policy
fiscal policy
interest rate policy
inflation
24
An increase in the average costs of production as a firm grows is referred to as...
Diseconomies of Scale
Economies of Scale
25
the worldwide web of communication links between computers
internet
globalization
intranet
economies of scale
26
When a business buys up a firm operating in the same stage of production
horizontal integration
backward vertical integration
forward vertical integration
conglomerate integration
27
combining of two firms strengths for a shared project, but each retaining own identity
franchise
strategic alliance
merger
joint venture
28
expansion of a business by means of opening new branches, factories, or shops
internal growth
external growth
forward growth
horizontal growth
