Flashcard: Stakeholders & PESTLE

Front

What is an entrepreneur?

Back

Someone who starts and runs a business

Front

What stands out about Steve Jobs’ entrepreneurial journey?

Back

His ability to recover from setbacks

Front

What is revenue in business?

Back

The total money earned by a business

Front

What is the main difference between goods and services?

Back

Goods are physical items, while services are activities or benefits provided.

Front

Which of the following is an example of a company that produces goods? A legal consulting firm, A grocery store selling packaged food, A travel agency providing tours, An online marketplace offering advice

Back

A grocery store selling packaged food

Front

Which of the following defines a stakeholder? A person with a direct interest in a business, A competitor in the same market, A freelance worker for multiple companies, None of the above

Back

A person with a direct interest in a business

Front

How do employees serve as stakeholders in a business?

Back

By providing labor and skills to achieve business goals

Front

What does PESTLE stand for?

Back

Political, Economic, Social, Technological, Legal, Environmental

Front

Which factor in PESTLE refers to the changes in cultural and societal norms?

Back

Social

Front

How did McDonald's adapt its strategy to mitigate risks from Brexit?

Back

Developed localized sourcing strategies