A business facing increased competition due to the entry of new firms into its market is influenced by which factor?
- Economic conditions
- Political developments
- Market structure
- Employee morale
How does globalisation influence businesses?
- By making government regulations more restrictive
- By creating new economic factors
- By expanding market opportunities beyond national borders
- By altering employee turnover rates
Which would be an appropriate way for a business to communicate with shareholders?
- App
- Social media
- Email
- Live chat
Which external influence on business relates to changes in how society perceives and values certain issues?
- Technological
- Social and cultural
- Economic
- Competitive
How can a change in government tax policies affect a business's finances?
- It can lead to changes in employee turnover
- It can influence consumer behaviour
- It can impact the company's revenue and expenses
- It can enhance product quality
What is a potential consequence of a company's failure to comply with environmental regulations?
- Increased employee morale
- Improved product quality
- Legal penalties and damage to reputation
- Enhanced brand image
Which of the following is an advantage a business becoming environmentally-friendly?
- Reduced costs from purchasing new equipment
- Low cost disposing of old equipment
- Increased sales from environmentally-concious customers
- Development and introduction of environmentally-friendly processes
How do increases in interest rates typically affect business borrowing?
- Increase borrowing costs
- Decrease borrowing costs
- Have no impact on borrowing
- Lead to changes in employee turnover
A business might adapt its products or services to meet the needs of a growing elderly population. This is an example of:
- Demographic influence
- Technological advancement
- Economic factors
- Government regulations
What is a common reason for businesses to engage in social responsibility?
- To increase employee turnover
- To improve product quality
- To enhance brand image and reputation
- To reduce technological advancements
