Business Change Impacts Quiz

What is a possible impact of change on businesses related to the product life cycle?

• Decreased competition

• Increased demand

• Expanded market reach

• Shortened product lifespan

Which stakeholder group may be impacted by change in terms of recruitment and selection?

• Managers

• Local residents

• Customers

• Suppliers

How can change impact businesses in terms of research and development?

• Reduced innovation

• Increased production costs

• Limited market expansion

• Enhanced product quality

What is a potential impact of change on stakeholders related to cost and profit implications?

• Reduced business revenue

• Increased shareholder dividends

• Decreased employee satisfaction

• Lower customer retention

How might change impact stakeholders in terms of different physical resource needs?

• Higher supply chain costs

• Increased operational efficiency

• Improved customer loyalty

• Decreased employee turnover

What is a possible impact of change on businesses related to training?

• Reduced customer satisfaction

• Decreased employee productivity

• Higher employee turnover

• Improved skill sets

Which stakeholder group may be impacted by change in terms of new opportunities?

• Suppliers

• Local residents

• Managers

• Customers

How can change impact businesses in terms of product life cycle?

• Limited market reach

• Decreased demand

• Increased competition

• Extended product lifespan

What is a potential impact of change on stakeholders related to owners?

• Decreased business revenue

• Lower employee morale

• Reduced shareholder dividends

• Increased business innovation

How might change impact stakeholders in terms of managers?

• Increased customer complaints

• Improved employee retention

• Decreased operational efficiency

• Higher decision-making authority