Pop Quiz - Unit 1 - Learnig Aim A

• Marketing & Communicatie
• MBO
• Studiejaar 1

Pop Quiz - Unit 1 Learning Aim A

Which of the following is part of the private sector?

1. Private limited companies
2. Voluntary organisations
3. Government
4. Charities

What type of organizations are included in the not-for-profit sector?

1. Charitable trusts
2. Partnerships
3. Charities
4. Voluntary organisations

Which sector is controlled by the government?

1. Public sector
2. Charitable trusts
3. Sole traders
4. Cooperatives

Which type of business is owned by shareholders who purchase shares on the stock market?

1. Sole trader
2. Cooperative
3. Partnership
4. Public limited company

Which type of business has a legal separation from its owners and limited liability?

1. Cooperative
2. Sole trader
3. Partnership
4. Private limited company

In which type of business can every member of staff have a share in the company and vote on major decisions?

1. Workers cooperative
2. Public limited company
3. Partnership
4. Sole trader

What type of business is owned by two or more people and can have limited liability?

1. Limited liability partnership
2. Sole trader
3. Cooperative
4. Public limited company

Which type of business is owned and controlled by one person?

1. Partnership
2. Sole trader
3. Public limited company
4. Cooperative

What can happen to the personal assets of the owners in a limited company if the business cannot pay its debts?

1. The owners' personal assets can be seized by the government.
2. The owners' personal assets are sold to the highest bidder.
3. The owners' personal assets are not affected.
4. The owners must liquidate their personal assets to pay the debts.

How are limited companies different from sole traders and partnerships?

1. Limited companies have unlimited liability and owners are personally liable for business debts.
2. Limited companies are exempt from paying taxes.
3. Limited companies have no legal status and cannot enter into contracts.
4. Limited companies have limited liability and owners are not personally liable for business debts.

What does unlimited liability mean for the owners of a business?

1. Owners are only liable for a portion of the business's debts.
2. Owners are personally liable for the business's debts.
3. Owners have no responsibility for the business's debts.
4. Owners can transfer all financial obligations to the employees.

Which type of business typically has unlimited liability?

1. Franchises
2. Limited companies
3. Sole traders and ordinary partnerships
4. Corporations

What is the scope of a business?

1. The size of a business's workforce.
2. The location of a business's headquarters.
3. The number of customers a business has.
4. The range of activities a business embarks on.

What is a business vision?

1. A tool used to measure employee satisfaction.
2. A marketing strategy that targets new customers.
3. A document that outlines the company's current financial status.
4. A statement in a strategic plan that identifies an idealised picture of the future state that a company hopes to achieve.

Why is a business vision important?

1. It provides a clear direction and purpose for the organization.
2. It helps in reducing operational costs.
3. It focuses on maximizing immediate profits.
4. It ensures quick decision-making in the company.

What are some reasons why business growth is often desirable?

1. Decreased profits
2. Brand Recognition
3. Economies of scale
4. Financial security

How can markets be categorized?

1. Small, medium, and large.
2. Wholesale, retail, and e-commerce.
3. Urban, suburban, and rural.
4. Local, national, and international.

What defines a local business?

1. Has outlets across a whole country.
2. Has operations in multiple countries.
3. Provides products and services to a small population in a local area.
4. Sells products exclusively online.

What characterizes a national business?

1. Has business activity in multiple countries.
2. Provides products and services to a small population in a local area.
3. Has operations or outlets across a whole country but not outside of the borders of that country.
4. Sells products exclusively online.

What defines an international business?

1. Has operations or outlets across a whole country but not outside of the borders of that country.
2. Provides products and services to a small population in a local area.
3. Has business activity in multiple countries.
4. Sells products exclusively online.

What is the definition of a micro business in the UK?

1. 10-49 staff
2. 50-249 staff
3. Up to 9 staff
4. 250 staff and above

What is the size range for small and medium enterprises (SMEs) in the UK?

1. 10-49 staff
2. 250 staff and above
3. 50-249 staff
4. Up to 9 staff

Why is having a clear vision important for an organization?

1. Helps everybody work together and understand their role
2. Develops good customer relationships
3. Increases revenue and repeat purchases
4. Attracts and maintains customers

Why is understanding customer needs important in marketing?

1. To increase revenue and repeat purchases
2. To develop good customer relationships
3. To better cater for their wants and needs
4. To explore new ideas

What does USP stand for?

1. Unique Selling Point
2. Universal Sales Promotion
3. Ultimate Sales Pitch
4. Unlimited Service Potential

What is the term used to refer to employees?

1. Talent
2. Marketing
3. Leadership
4. Sales

What can lead to business failure?

1. USP
2. Poor financial management
3. Talent
4. Clear vision and goals

What helps businesses stand out from their competitors?

1. Sales
2. Innovation
3. Unique selling point (USP)
4. Leadership

What increases revenue and repeat purchases?

1. Clear vision and goals
2. Strong promotion and good customer relationships
3. Financial management
4. Talent

What improves outcomes from staff?

1. Sales
2. Tailoring leadership to the business
3. Marketing
4. Innovation

Who are internal stakeholders in a business?

1. Government
2. Workers
3. Managers
4. Owners

Who are external stakeholders in a business?

1. Interest Groups
2. Owners
3. Government
4. Local community

What impact do suppliers have on businesses?

1. Increasing market share and revenue
2. Improving liquidity and processing payments
3. Overall costs and liquidity depending on credit terms
4. Creating jobs and paying taxes

What is the main reason lenders lend money to businesses?

1. Improving liquidity and processing payments
2. Maintaining good relationships and repeat orders
3. Interest
4. Analyzing behaviors of business rivals

What impact do competitors have on businesses?

1. Pressure to constantly innovate or risk losing customers
2. Creating jobs and paying taxes
3. Overall costs and liquidity depending on credit terms
4. Receiving revenue from repeat custom and word of mouth

What do trade receivables want from businesses?

1. Time to pay, improving liquidity and processing payments
2. Increasing market share and revenue
3. Maintaining good relationships and repeat orders
4. Creating jobs and paying taxes

What do customers want from businesses?

1. Creating jobs and paying taxes
2. High quality products, range of choices, and low prices
3. Overall costs and liquidity depending on credit terms
4. Improving liquidity and processing payments

KLM pilots are considering strikes as collective contract talks between the Dutch airline and trade union VNV stalled. According to the union, its members “massively support” labor actions if KLM doesn’t meet their demands. The VNV and KLM are struggling to reach agreements on wage increases for pilots and better working conditions, according to the union.

Who are the key Stakeholder impacted by the above scenario and how are they impacted (Positively or Negatively)