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