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Business studies - unit 1 & 2

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entrepreneurial qualities & success factors + citizenship roles & responsibilities.
love.ma.monkey
Quiz by love.ma.monkey, updated more than 1 year ago
love.ma.monkey
Created by love.ma.monkey over 9 years ago
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Resource summary

Question 1

Question
define profitability and sustainability
Answer
  • profitability is the ability of a business to earn profit.
  • sustainability is to enhance and support something.
  • profitability is the act of attempting to earn profit.
  • sustainability is to ensure ongoing success.

Question 2

Question
select 5 key success factors:
Answer
  • thorough planning & monitoring internal and external environment.
  • exceeding the break-even point and examining income sheet.
  • effectively managing scarce resources, finances and employees.
  • open a new franchise, update technology and storefront appearance.

Question 3

Question
define 'entrepreneurial' :
Answer
  • entrepreneur: to become wealthy by creating a product.
  • entrepreneur: individual who starts, runs or owns a business to make profit. Successful entrepreneurs share similar attitudes, skills, values, behaviors and knowledge.
  • entrepreneur: individual who starts, runs or owns a business for money. Successful entrepreneurs share similar skills, values, behaviors and knowledge.

Question 4

Question
choose 6 characteristics of an entrepreneurial business :
Answer
  • optimistic mood, open to input and ideas, flexible and adaptable.
  • reflecting on own practices, persistence and perseverance, prepared to take calculated risks.
  • creates enjoyable environment for employees, examine all past practices, taking risks.
  • taking calculated risks, persevering and persisting, reflecting on each persons practices.

Question 5

Question
Select 4 tools used to evaluate a business:
Answer
  • perform SWOT analysis, collect qualitative data.
  • create questionnaires for all employees, collect data.
  • examine balance statement and income sheet.
  • examine balance sheet and income statement

Question 6

Question
define balance sheet & income statement:
Answer
  • income statement : document generated monthly/annually that reports earnings of a company, by stating all relevant income and all expenses that have been incurred to generate that income.
  • balance sheet : financial statement that lists assets, liabilities and equity of a company at a specific point in time to calculate profits.
  • balance sheet : financial statement that lists assets, liabilities and equity of a company at a specific point in time to calculate net worth.
  • income statement :document generated monthly/annually that reports earnings of a company, by stating all relevant income and all expenses of the business.

Question 7

Question
A citizen is an individual who belongs to a [blank_start]political community[blank_end] and enjoys [blank_start]rights[blank_end] associated with being a member of that community while also assuming certain [blank_start]responsibilities[blank_end] and [blank_start]duties[blank_end].
Answer
  • political community
  • continent
  • stable community
  • political environment
  • rights
  • perks
  • support
  • favours
  • responsibilities
  • tasks
  • crimes
  • duties
  • problems
  • roles

Question 8

Question
Select the 3 components of citizenship :
Answer
  • Describes a persons cultural identity
  • Describes a persons identical status
  • Describes a persons political status
  • Describes a persons identity
  • Describes a persons legal status

Question 9

Question
A persons rights are protected by the laws of the country.
Answer
  • True
  • False

Question 10

Question
A persons rights are protected by the ethics of the country.
Answer
  • True
  • False

Question 11

Question
some common civil responsibilities that apply to most countries :
Answer
  • pay taxes
  • attend work
  • attend school
  • comply with laws
  • enforce laws
  • attend university
  • respect rights of others
  • do duties

Question 12

Question
responsibilities citizens should undertake, that aren't legally enforceable :
Answer
  • vote in elections
  • protect natural environment
  • clean graveyards
  • take care of less fortunate people
  • offer money to beggers
  • promote social justice
  • arrest people
  • contribute to nation building

Question 13

Question
Corporate citizenship = [blank_start]activities[blank_end] a business undertakes to ensure that its wid[blank_start]er influence[blank_end] is be[blank_start]neficial[blank_end] to all. Businesses try to have a [blank_start]positive impact[blank_end] on [blank_start]society.[blank_end]
Answer
  • activities
  • er influence
  • neficial
  • positive impact
  • society

Question 14

Question
4 areas where activities undertaken by a business occur in : [blank_start]environment[blank_end], [blank_start]workplace[blank_end], [blank_start]marketplace[blank_end], [blank_start]community[blank_end].
Answer
  • environment
  • nature
  • environmental
  • external
  • workplace
  • workspace
  • work area
  • office
  • building
  • marketplace
  • market
  • shop
  • customers
  • business
  • internal
  • community
  • society
  • nationwide
  • social place

Question 15

Question
employees are most productive when they perform [blank_start]meaningful jobs[blank_end], work in a [blank_start]healthy environment[blank_end], feel empowered to [blank_start]express their opinions[blank_end], are [blank_start]respected[blank_end] and have a good balance between [blank_start]work and family life[blank_end].
Answer
  • meaningful jobs
  • purposeful jobs
  • meaningless jobs
  • jobs that benefit them
  • healthy environment
  • bright environment
  • bright office
  • large working space
  • express their opinions
  • speak their minds
  • give feedback
  • freely critisize
  • express their experiences
  • respected
  • loved
  • cared for
  • listened to
  • work and family life
  • work and relationships
  • work and sports
  • family life and studies
  • work and entertainment

Question 16

Question
businesses excel when they are located in a healthy community in which there is :
Answer
  • low crime rate
  • adequate education and health care
  • available skilled labour
  • strong economic activity
  • few criminals
  • enough schools and hospitals
  • employees available

Question 17

Question
integrity =
Answer
  • honesty and wholeness
  • loyalty and honesty
  • respect and wholeness
  • loyalty and respect

Question 18

Question
mindfulness =
Answer
  • to be aware of the impact its decisions and practices have both within and outside its offices
  • to be aware of the impact its decisions and practices have outside its offices
  • to be aware of the impact its decisions and practices have within its offices
  • to be aware of the influence its decisions and practices have both within and outside its offices

Question 19

Question
A business needs to create [blank_start]opportunities[blank_end] for employees to [blank_start]reflect[blank_end] and [blank_start]learn[blank_end].
Answer
  • opportunities
  • reflect
  • learn

Question 20

Question
NGO is a national government organisation
Answer
  • True
  • False

Question 21

Question
NGO is a non-governmental organisation
Answer
  • True
  • False

Question 22

Question
CBO = [blank_start]community-based[blank_end] organisation
Answer
  • community-based

Question 23

Question
CBO's and NGO's...
Answer
  • have no connection to the government
  • are controlled by the state
  • are managed my members of the community
  • address issues which the community believes are important
  • address issues which are important to the country
  • are annually visited by government agencies

Question 24

Question
Companies that treat the environment with respect and take their role seriously will : reduce [blank_start]wastes[blank_end], produce [blank_start]environmentally-friendly[blank_end] products/services, enjoy a high degree of [blank_start]loyalty[blank_end] from customers & suppliers and abide by environmental protection laws.
Answer
  • wastes
  • cost
  • rubbish
  • damage
  • environmentally-friendly
  • cost effectve
  • satisfying
  • loyalty
  • purchases
  • kindness

Question 25

Question
differentiate between communism and socialism
Answer
  • socialism is an economic term used to describe a type of economic system where the state makes all the economic decisions about production and entrepreneurship.
  • communism is a political term used to describe a totalitarian one-party state, which is usually brought into existence through a revolution.
  • communism is a political term used to describe a totalitarian one-party state, which is usually brought into existence through a strike.
  • socialism is an political term used to describe a type of economic system where the state makes all the economic decisions about production and entrepreneurship.
  • communism is a economical term used to describe a totalitarian one-party state, which is usually brought into existence through a revolution.
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