Question 1
Highlight four ways in which the internal environmental factors can lead to success of a business
Answer
- A well laid out business structure
- Well trained /motivated manpower
- Adequate finance for its operations
- Established physical resources
- Well trained /motivated manpower
- Adequate finance for its operations
- Established physical resources
Question 2
Identify four personal factors that one would consider when evaluating a business opportunity.
Answer
- Skills
- Commitment
- Interest
- Objectives
- Commitment
- Interest
- Objectives
Question 3
Highlight four circumstances under which a firm would be located near a market.
Answer
- Training of local people in various skills
- Transfer of capital to the country/capital inflow
- Increased research in the countries’ economies on production and investment
- Employment to people of the country
- Transfer of capital to the country/capital inflow
- Increased research in the countries’ economies on production and investment
- Employment to people of the country
Question 4
State four measures that the government can use to encourage increase in the country’s volume of exports.
Answer
- When giving instructions to junior workers
- When giving directives to junior workers
- When explaining policies of the firm
- When disciplining the workers
- When giving directives to junior workers
- When explaining policies of the firm
- When disciplining the workers
Question 5
Highlight four positive impacts of the physical environment on the operations of a business
Answer
- It reaches the worldwide audience
- The delivery of the advert is instant
- It is long lasting
- The advert can be conveyed to a group of people simultaneously
- The delivery of the advert is instant
- It is long lasting
- The advert can be conveyed to a group of people simultaneously