Business Management Unit 1 Planning - The Internal Environment

Question 1

Which of the following is considered part of a businesses informal network?

Accepted Answer

Mentors

Question 2

Which of the following is NOT a type of Natural Resource?

Accepted Answer

Trucks

Question 3

Corporate Social Responsibility is defined as

Accepted Answer

Consideration of all stakeholders in business decisions

Question 4

Which of the following factors is NOT considered when choosing a business location

Accepted Answer

Level of control of owner

Question 5

The three types of resources used by business are

Accepted Answer

Natural, Labour, Capital

Question 6

In purchasing a new business, which of the following is different from the others?

Accepted Answer

Time is needed to develop a customer base and employ staff

Question 7

Which of the following is NOT part of a SWOT analysis?

Accepted Answer

Stability

Question 8

Which of the following is a type of equity funding?

Accepted Answer

Owners funds

Question 9

Which of the following business models offers the most face to face interaction for customers?

Accepted Answer

Bricks and Mortar

Question 10

Which of the following is NOT an advantage of creating a business plan?

Accepted Answer

Deters competitors from running their businesses

Question 11

If the owner wants the security of limited liability which business structure is best?

Accepted Answer

Company

Question 12

Which of the following is NOT a factor when choosing the appropriate type of funding

Accepted Answer

Visibility

Question 13

CSR in the internal environment includes

Accepted Answer

All of the above

Question 14

In purchasing an existing businesses, which of the following is different from the others?

Accepted Answer

Some employees may resent any change to the business

Question 15

The most appropriate structure when there is one owner who wishes to keep costs down is?

Accepted Answer

Sole Trader

Questions 15