theme 2.3 Flashcards
1
Q
two types of business failure
A
internal and external factors
2
Q
business failure
A
a business ceases to trade or doesn’t trade in a profitable way or makes a terrible decision
3
Q
liquidation
A
process of closing a ltd or plc, through selling of assets to dissolve the company
4
Q
internal failue
-4
A
- efficiency
-marketing
-innovate
-management
5
Q
example of efficency failure
A
modelzone
6
Q
example of marketing failure
A
sunny delight
7
Q
example of innovate failure
A
kodak
8
Q
example of management failure
A
debenhams
9
Q
types of external factors
A
economics recession and strong pound
10
Q
economic recession
A
customers save more, luxury good impacted
11
Q
strong pound
A
export heavy rely on weak pound
import heavy rely on strong pound
