G9-Term 2 -EOT - Exam Review quiz

What is a benefit of starting a business?

 

• (a)  Reducing self-confidence

• (b)  Losing reputation

• (c)  Losing time

• (d)  Making money

Why is a business plan important?

• (a)  It shows completed actions that have already been taken.

• (b)  It stops changes in the market.

• (c)  It helps competitors to plan better.

• (d)  It helps the owner to organise and to think ahead.

Identify a skill of an entrepreneur.

• (a)  Running

   

• (b)  Action

• (c)  Decision-making

• (d)  Worrying

Identify an external source of business ideas.

• (a)  Experiences

• (b)  Employee suggestions

• (c)  Brainstorming

• (d)  Media

What is a challenge of business growth?

 

• (a)  Protection from takeovers

• (b)  Conflict about managing the business

• (c)  More control in the market

• (d) Increase in market share

Which part of a SWOT- analysis identifies an internal factor that can stop the business from succeeding?

• (a)  Strengths

• (b)  Weaknesses

• (c)  Opportunities

• (d)  Threats

What is risk management?

• (a)  The process of thinking of things that can go wrong and taking steps to stop it from happening.

• (b)  The number of sales that company has as a percentage of total sales.

• (c)  The process of coming up with many different business ideas.

• (d)  The number of sales that a company loses as percentage of total sales.

What is an advantage of locating a business internationally?

• (a)  Access to global markets 

• (b)  Cultural differences

• (c)  Legal restrictions

• (d)  Flexible working hours

What is a benefit of business growth?

• (a)  Owner’s loss of control

• (b)  Conflict

• (c)  Increase in profits

• (d) Slow growth rate

What is a disadvantage of locating a business online?

• (a)  Less start-up capital

• (b)  Reduced legal restrictions

• (c)  More competition

• (d)  Lower labour costs