Part A: Terminology (Please write your answers in the space
Part A: Terminology (Please write your answers in the space
Part A: Terminology
(Please write your answers in the space provided below each question.)
Q1. Define the following terms:
a) Entrepreneur
b) Stakeholder
c) Inflation
d) Environmental sustainability
e) Triple Bottom line reporting
Part B: Short Answer Questions
Q2. What is environmental scanning? Why is environmental scanning important in planning strategic management for any organisation?
Q3. Explain at least four modern trends in contemporary business.
Q4. List two characteristics of an economic boom and two characteristics of an economic downturn.
Q5. With an appropriate example, explain the value-chain activities of a business.
Q6. What does PESTEL stands for? Give 1 example for each of the PESTEL forces.
Part C: Case Study Questions
Western Burger Bar Case Study
The Western Burger Bar is a fast food restaurant in Blacktown owned by young entrepreneurs Luke Saide and Bella White. It is a town-centre retail business selling a small range of freshly cooked burgers and fries. The bar relies on fresh ingredients in preparing the burgers. The burger buns are freshly baked each morning in the small kitchen area. The Western Burger Bar has a solid customer base for their freshly cooked food.
Customers enter the premises and join a queue where they make their selection and are served at the counter. The food is delivered in a paper bag for takeaway, or the same paper bag on a tray for eat-in orders. A ‘to-go’ (take away) customer typically enters and leaves the restaurant within 10 minutes.
The burger bar has a small sitting area with a few tables and chairs for eat-in customers. For ‘eat-in’ orders, customers take their tray to a table and consume their food by hand or with disposable cutlery. Afterwards, they are expected to clear the table by taking the tray, with the trash, to a nearby collection point.
Recently, the owner of the Western Burger Bar has commissioned some market research. The result of the research suggests that there is an opportunity for extending the menu to include plated food (using ceramic plates and non-disposable cutlery) eaten within the premises.
Read through the case study of Western Burger Bar and answer the following questions:
Q7. Identify and write down the prime function for Western Burger Bar.
Q8. Construct a mission statement for Western Burger Bar in line with its prime function.
Q9. Write down at least two each of the strengths, weaknesses, opportunities and threats you can think of in relation to the above business.
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