UNIT 1.5 Business Stakeholders, Technology, and Legislation Quiz

What is a potential conflict between shareholders and managers?

• Shareholders want to re-invest profits, managers want dividends

• Shareholders want dividends, managers want to re-invest profits

• Both want lower business costs

• Both want higher prices

Define technology in a business context.

• The use of computers only

• The application of knowledge, skills, and techniques to improve business performance

• The use of mobile phones

• The use of social media

Which is a disadvantage of using technology in business?

• Improves efficiency

• High initial costs

• Improves quality

• Reduces costs

What does e-commerce mean?

• Buying and selling in physical stores

• Buying and selling on the internet

• Only using mobile phones for business

• Only using cash payments

How is m-commerce different from e-commerce?

• M-commerce uses mobile devices

• M-commerce uses only cash

• M-commerce is for large businesses only

• M-commerce is not digital

Which is a drawback of e-commerce?

• Sales and brand awareness higher

• Initial cost high

• Automatic ordering

• Wider access to markets

What is an advantage of using e-payment systems?

• Cost of buying/updating systems

• Quicker receipt of money

• Fraud/hacking risk

• Training staff

How can technology influence the marketing mix?

• Reduces number of employees

• Cheaper promotions using social media

• Increases distribution costs

• Increases staff training

Which of the following is a benefit of consumer legislation for businesses?

• Increased quality control costs

• Improved reputation

• Higher raw material costs

• More employee training required

Which of the following is a cost of consumer legislation for businesses?

• Improved reputation

• Increased quality control

• Higher sales

• Better customer service