Stakeholder and Business Objectives Quiz

• newEditor
• Buissness
• Secondary Education
• Age 13

What are internal stakeholders?

A

Owners and employees

B

Local community

C

Customers and suppliers

D

Government bodies

What is the purpose of stakeholder analysis?

A

Reduce employee turnover

B

Increase company profits

C

Enhance product features

D

Identify stakeholder objectives

What does SMART in SMART objectives stand for?

A

Strategic, Marketable, Attainable, Realistic, Time-sensitive

B

Sustainable, Meaningful, Achievable, Reliable, Time-based

C

Specific, Measurable, Achievable, Relevant, Time-bound

D

Simple, Manageable, Actionable, Relevant, Timely

Which is a conflict in business objectives?

A

Customer service vs. production

B

Sales vs. marketing

C

Finance vs. operations

D

Growth vs. profit

What does the primary sector involve?

A

Retailing products

B

Manufacturing goods

C

Extracting natural resources

D

Providing services

What can measure a business's size?

A

Employee count and revenue

B

Customer satisfaction

C

Brand recognition

D

Market trends

What is a risk of rapid growth?

A

Higher customer satisfaction

B

Cash flow problems

C

Increased employee morale

D

Stronger brand loyalty

What sector focuses on manufacturing?

A

Primary sector

B

Tertiary sector

C

Quaternary sector

D

Secondary sector

What is a motive for entrepreneurship?

A

Minimising competition

B

Financial gain

C

Avoiding risk

D

Seeking employee benefits

What is a challenge for new entrepreneurs?

A

Establishing brand loyalty

B

Funding and resources

C

Managing large teams

D

Setting high prices

What does value addition refer to?

A

Increasing competition

B

Cutting production time

C

Enhancing goods' worth

D

Reducing product prices

What differentiates consumer goods from capital goods?

A

Purpose of use

B

Retail price

C

Manufacturing location

D

Production method

What is the aim of conflict resolution?

A

Expand market share

B

Increase competition

C

Reduce operational costs

D

Minimise stakeholder conflicts

What is an example of external growth?

A

Mergers and takeovers

B

Increasing employee count

C

Enhancing customer service

D

Launching new products