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Exam (elaborations)

Business Management Unit 1 Exam Questions with Correct Answers 2025

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Business Management Unit 1 Exam Questions with Correct Answers 2025

Institution
BUSINESS MANAGEMENT
Course
BUSINESS MANAGEMENT








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Institution
BUSINESS MANAGEMENT
Course
BUSINESS MANAGEMENT

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Uploaded on
January 1, 2025
Number of pages
2
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

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  • business management unit 1 exam questions with cor

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Business Management Unit 1 Exam Questions
with Correct Answers 2025
PartnershipR-RCORRECTRANSWERR-
AnRunincorporatedRlegalRbusinessRstructureRwithRaRminimumRofRtwoRandRaRmaximumRofR20Rowners



SmallRBusinessRCharacteristicsR-RCORRECTRANSWERR-
HasRlessRthanR20Remployees,RIndependentlyRownedRandRoperatedRbyRusuallyRoneRorRtwoRpeople



For-ProfitROrganisationR-RCORRECTRANSWERR-MainRobjectiveRisRtoRmakeRaRprofit



Not-For-ProfitROrganisationR-RCORRECTRANSWERR-MainRobjectiveRisRtoRachieveRaRsocialRmission



ImportanceRofRBusinessRPlanningR-RCORRECTRANSWERR-
ToRensureRtheRbusinessRsuitsRyouRandRyourRcustomersRandRthatRyouRconsiderRallRofRtheRtime,RenergyRandR
moneyRthatRwillRgoRintoRrunningRtheRbusiness.RShowsRtheRprobabilityRofRsuccessRandRimportantRforRseekin
gRfinanceRfromRaRlender



BusinessRLocationR-RCORRECTRANSWERR-ShoppingRcentres,RretailRshoppingRstrips,RonlineRpresence,Rhome-
basedR-
RfactorsRaffectingRthisRincludeRvisibility,Rcost,RproximityRtoRcustomersRandRsuppliers,RproximityRtoRcompetit

ors,RcomplementaryRbusinesses



KPIR-RKeyRPerformanceRIndicatorR-RCORRECTRANSWERR-
ARwayRofRmeasuringRtheRsuccessRofRaRbusinessRorRorganisation.RThereRareRtwoRtypes:RfinancialRandRnon-
financial



ProfitabilityR-RCORRECTRANSWERR-TheRqualityRofRaffordingRgainRorRbenefitRorRprofit



ContributionRofRsmallRbusinessRtoRtheReconomyR-RCORRECTRANSWERR-
TaxationRrevenue,ReconomicRgrowth,RexportRearnings,



ExternalRMacroREnvironmentR-RCORRECTRANSWERR-PELTSR-
RPolitical,REconomic,RLegal,RTechnological,RSocial
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