Business Strategies (Grade 12 NSC Matric Business Studies): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
How many main categories of business strategies can businesses adopt?
How many main categories of business strategies can businesses adopt?
Four
What is a main purpose of integration strategies?
What is a main purpose of integration strategies?
Control competition more effectively
Forward vertical integration involves taking control of which type of companies?
Forward vertical integration involves taking control of which type of companies?
Distributors of products
What does backward vertical integration reduce?
What does backward vertical integration reduce?
Dependence on external suppliers
Horizontal integration focuses on taking control of which businesses?
Horizontal integration focuses on taking control of which businesses?
Competitors at the same level
What characterises market penetration strategy?
What characterises market penetration strategy?
Not modifying existing products
How does market development differ from product development?
How does market development differ from product development?
It sells existing products in new markets
Concentric diversification involves adding products for which customers?
Concentric diversification involves adding products for which customers?
New customers
Which defensive strategy involves terminating employment contracts to reduce costs?
Which defensive strategy involves terminating employment contracts to reduce costs?
Retrenchment
What advantage do diversification strategies provide?
What advantage do diversification strategies provide?
Reduced risk of relying on one product