Mgmt100 test - Study guides, Class notes & Summaries

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,...

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...