Question | Answer |
What does LSM stand for when doing marketing? | life style measurement
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Identify the four elements of the Balance Score Card | financial perspective,customer perspective,internal business perspective, learning & growth perspective
| Name any FOUR ethical theories | principle-based,consequence-based,narrative,utalitarian-based,virtue-based
| Identify the 4 main P's of marketing? | price,product,place,promotion
| What are the additional 3 P's of marketing? | people,process,physical evidence
| Name the two business environments over which a business has control? | micro and market
| In which business environment do the customers and suppliers of a business belong? | market
| Which strategic technique was Famous Brands using when deciding to purchase a dairy farm and cheese factory to source its various franchises from? | backward integration
| That petrol stations must sell petrol at a regulated rate falls into which business environment? | macro
| Why would it be beneficial for a business to get involved in a CSR campaign? | name any advantage of CSR participation
| Identify any three management styles? | laizzes-faire,autocratic,democratic,transformational,charismatic,situational
| Why did Pick 'n Pay find it beneficial to partner up with BP petrol stations? | advantage of joint ventures
| Name the term when a business is focused not only on profits but also on the well-being of the community and the environment? | integrated reporting or TBL
| What is the term given when an employee has to do more than they can cope with in their job? | role overload
| Name a decline strategy? | retrenchment,closing-down |