Mgmt100 test - Study guides, Class notes & Summaries
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MGMT100 TEST QUESTIONS WITH ALL CORRECT ANSWERS
- Exam (elaborations) • 16 pages • 2024
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MGMT100 TEST QUESTIONS WITH ALL CORRECT ANSWERS 
 
Common reasons for business failure - Answer- personal reasons, poor economic conditions, underestimation of start-up time, undercapitalisation, overestimation of market size, lack of managerial skills, lack of cash flow, wrong business location, poor selling point, incompetent human resources, ethical failure, zero strategic thinking, no commitment 
 
5 stages of the entrepreneurial growth cycle - Answer- start-up, survival, growth, expansion,...
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MGMT100 Test Revision Questions with All Correct Answers
- Exam (elaborations) • 5 pages • 2024
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MGMT100 Test Revision Questions with All Correct Answers 
What is the external environment? - Answer- Things external to a business/organisation but which impact it 
 
What is the manager's role in relation to the environment? - Answer- Managers need to monitor and respond to the environment 
 
What are the two subdivisions of the external environment? - Answer- General environment (impacts organisation indirectly) and task environment (impacts organisation directly) 
 
What are the six subd...
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