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The basic skills and concepts needed to run an organization are referred to as business fundamentals. For businesses, information such as profitability, revenue, assets, liabilities, and growth potential are considered fundamentals. Through the use of fundamental analysis, you may calculate a company’s financial ratios to determine the feasibility of the investment.
Also : Entrepreneurship Fundamentals Certification | Get Free Certificate
What are the 5 principles of business?
The Five Principles are: quality, responsibility, mutuality, efficiency and freedom.
HERE ARE THE QUESTIONS AND ANSWERS :
Q. Which of the following is a primary purpose of a business?
Profit
Satisfying consumer needs
Gaining market share
all of the listed responses
Q. Profit is always the primary aim of a business:
True
False
Q. The way in which a business turns inputs into outputs is known as:
processes
means
ends
finalising
Q. A business that exists to address a social purpose is known as a:
social enterprise
government owned corporation
public company
private company
rise
Q. A government owned corporation is
a public company that individuals can bid on
a private company where ownership is not up for sale
a business structure that is owned in whole or by majority by the government
a large social enterprise
Q. Internal operating environment refers to:
factors that a business can control and that can determine the success of the business
owners, structure, feasibility and partnership
organisational culture, leadership, profitability and growth
factors that a business can not control, and our outside of their business model
Q. Interest groups are a type of external operating factor. They include:
unions, professional associations and groups that operate in the public interest
suppliers and other actors in the supply chain
the government and other public bodies
customers and other stakeholders
Q. A challenge of the start-up stage is generally…
acquiring funds and engaging with customers
navigating the competition
remaining relevant
writing a business plan
Q. A business can accurately be judged using a single criteria
False
True
Q. Efficiency means…
creating something with minimal resources
creating something that is the best in it’s field
staying ahead of the competition
being well liked by customers
