18th

• What does the term 'scope' refer to in a business context?

  The skills or range of the business (local, national or international).
• What are two possible purposes of a business?

  To do good for society (not for profit) or to generate profit.
• Why are competitors important to a business?

  Competitors affect the business' profit if consumers find a cheaper good or service.
• What are the objectives that influence the relationship with stakeholders?

  • Financial
  • Social
  • Ethical
  • Environmental
• What external influences can affect a business's relationship with stakeholders?

  Market conditions, including competition, and legislation.
• How many leadership styles are mentioned in the study material?

  There are two leadership styles mentioned.
• What are the methods for managing relationships with different stakeholders?

  • Communication: Keep informed, two-way communication, involves third parties.
  • Consultation: Shares proposals and seeks opinions early in decision making.
  • Stakeholder mapping: Helps informed decision making and communication.
• What does stakeholder mapping show?

  It shows the relative power of each stakeholder group against the degree of interest.
• How does stakeholder mapping help managers?


  It informs managers on how important each stakeholder group is and how involved they should be in decision making.
• What are the types of written presentations in effective business communication?

  • Non-financial reports
  • Financial reports
  • Formal reports
  • Informal reports
• What is an example of an oral presentation method?

  Computer projection, such as PowerPoint with speaker notes.
• Why is communication important for business success?

  It ensures employees understand their roles and keeps investors up to date with information.
• What is viral marketing?

  The use of social media networks to encourage the spread of promotional activities and increase brand awareness.
• What are the types of organizational structures mentioned?

  • Hierarchical structure
  • Flat structure
  • Matrix structure
  • Holocratic structure
• What is the difference between a tall and a wide organizational structure?

  A tall structure has fewer subordinates per superior, while a wide structure has many subordinates per superior.
• What does the chain of command refer to?

  The way authority is passed down the levels of hierarchy.
• How does a longer chain of command affect communication?

  A longer chain of command can slow down communication and decision making.
• What are the barriers to effective communication in a business?

  • Information overload
  • Jargon
  • Use of inappropriate methods