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ScotlandBusiness ManagementQuick questions
Understanding Business
Quick questions on Internal factors - SQA Higher Business Management
4short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is technology?Show answer
The existing technology, equipment and systems set the firm's capacity, efficiency and quality. Up-to-date machinery and IT allow faster, cheaper, higher-quality output and support growth; outdated technology limits what can be produced and may need expensive replacement before plans can proceed.
What is reputation?Show answer
The firm's existing reputation with customers, suppliers, employees and lenders enables or limits its choices. A strong reputation makes it easier to launch new products (customers already trust the brand), borrow money (lenders see it as safe) and attract staff. A poor reputation does the opposite, restricting options until it is rebuilt.
What is q1?Show answer
Describe how a lack of finance could constrain a business decision. [2 marks]
What is q2?Show answer
Explain how a strong reputation can enable a business to grow. [4 marks]
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