Fundamentals of Business - Business for QCE Chapter 2

Question 1

Finance is often regarded as the lifeblood of a business.

Accepted Answer

True

Question 2

The purpose of marketing is persuading potential customers to become customers.

Accepted Answer

True

Question 3

What stakeholder has the most impact on a business?

Accepted Answer

Owners

Question 4

Which of these is not a business goal?

Accepted Answer

Environmental Stability

Question 5

What does GOC stand for?

Accepted Answer

Government Owned Corporations

Question 6

Having a strategic plan defines the purpose of the business?

Accepted Answer

True

Question 7

Which one of these is NOT a part of the internal environment

Accepted Answer

STEEPLE

Question 8

Human Resources play a critical role in helping a business grow.

Accepted Answer

True

Question 9

Leaders who take initiative and lead by example are ...

Accepted Answer

Authentic

Question 10

Which of the following is not in the external environment.

Accepted Answer

Employees

Question 11

Why are stakeholders important to business?

Accepted Answer

They provide requirements or constraints

Question 12

A business owned and operated by one person is a ...?

Accepted Answer

Sole Trader

Question 13

Which of the following is what a business wants to achieve?

Accepted Answer

Goal

Question 14

Which of these is a business goal?

Accepted Answer

Growth

Question 15

Which of the following is an internal stakeholder.

Accepted Answer

Employees

Question 16

What is not always a profit-based strategy?

Accepted Answer

Donating some profits to smaller businesses

Question 17

Businesses don't need employees.

Accepted Answer

False

Question 18

Which question would not be effective in a strategic plan?

Accepted Answer

How long will it take?

Question 19

A stakeholder is anyone with an interest or concern in a business and how it operates.

Accepted Answer

True

Question 20

What are the legal ownership structures?

Accepted Answer

Sole Trader, Partnership, Companies

Question 21

2 - 20 owners operating a business together is a Partnership.

Accepted Answer

True

Question 22

What does 'Pty Ltd' mean?

Accepted Answer

Proprietary Limited

Question 23

Which of these is a business goal?

Accepted Answer

Sustainability & Growth

Question 24

How many employees are in a micro business?

Accepted Answer

1-4

Question 25

What is an external stakeholder?

Accepted Answer

Someone not working in the business but is affected by the business actions

Question 26

What type of companies are there?

Accepted Answer

Private, Public

Question 27

Which of these businesses is a profit-based business?

Accepted Answer

Castrol, Who Gives A Crap

Question 28

If productivity is high, a business has a higher chance of being run out of the competition.

Accepted Answer

False

Question 29

Competitors are part of the external environment.

Accepted Answer

True

Question 30

What part of a SWOT relates to the internal environment?

Accepted Answer

Strengths and Weaknesses

Fundamentals of Business - Business for QCE Chapter 2

Questions 30

Fundamentals of Business - Business for QCE Chapter 2

Questions 30