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- 1. Multiple-choice30 seconds1 pt
Define the start-up stage of the business life cycle
Business needs to increase sales volumes by increasing customer base and brand loyalty
The business
is growing into new markets or is
establishing its presence in the industry
Business idea has been developed
into products or services that are ready to sell in market
The business is reaching a steady sales point and needs to maintain competitiveness and profitability
- 2. Fill-in-the-Blank1 minute1 pt
The five stages of the business life cycle are ______
- 3. Multiple-choice30 seconds1 pt
Which of the following is NOT an evaluation criteria
Stake-sale
Satisfaction
Competitiveness
Effectiveness
Efficiency
- 4. Multiple-choice30 seconds1 pt
Laws and business regulations are an example of what factor?
Socio-cultural
Political
Ethical
Legal
- 5. Multiple-choice30 seconds1 pt
Which of the following is NOT an internal business factor?
Employees
Interest groups
Owners and managers
Organisational structure
- 6. Multiple-choice30 seconds1 pt
Which of the following is NOT an external operating environment factor?
Ethical factors
Customers
Suppliers
Competitors
- 7. Multiple-choice30 seconds1 pt
A business provides free samples of its product for customers to try. At which stage of the business life cycle is this strategy most likely to occur?
Growth
Start-up
Seed
Maturity
- 8. Multiple-choice30 seconds1 pt
When evaluating business strategies and practices, the criterion of efficiency is about:
doing the right thing with minimum use of time and effort
doing the right thing with minimum use of time but no effort
doing the right thing with maximum use of time and effort
doing the right thing with maximum use of effort in a maximum time frame
- 9. Multiple-choice30 seconds1 pt
A clothing store encourages customers to use their own carry bags. What is the purpose of this action?
To improve operational costs
To comply with business regulations
To show goodwill to customers
To be ecologically sustainable
- 10. Multiple-choice30 seconds1 pt
What does PEST analysis stand for?
Political, economic, socio-cultural, technological
Political, environmental, supplier, technological
Political, employee, supplier, technological
Politics, environment, social, technology
