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