Is product quality one of the main measures of success? (Answers according to Business Studies textbook)
What is the goal of passing out these forms? What good does it do to the business?
So that the business would spend their spare time on reading the comments and have a few laughs.
So that the business can reflect on the consumer's attitude towards the business.
So that the business can use the consumer's comments to improve the business.
So that the business can make themselves seem more professional.
How does public sector businesses judge their success? (Think of the two main objectives of public sector businesses)
Quality of service
Profit earned
Customer satisfaction
Reducing costs
Product quality
How does most businesses judge their failure?
Bankruptcy
Steep fall in sales
Lack of employee
Death of manager's dog
Lack of skill
After a business fails, the business will go through administration (people known as the administrators will run the businesses, trying to save it), if it fails, it will go into liquidation (the business will fall, selling all assets), then evaporation (the money earned from the assets will be distributed to the firm's creditors.)
How many employees does a medium sized business must contain? (Answers according to the EU)
50 - 249
300 - 500
100 - 199
150 - 299
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