PRE RELEASE

What is considered a stakeholder in a business context?

A stakeholder is any person, group, or organization that has an interest in a business because they are affected by, or may be affected by, the activities of that business.

List examples of internal stakeholders.

CEO/Directors/Owners/Partners, Managers/Supervisors/Assistants, Employees, Trade Unions.

What are two examples of external stakeholders?

Customers and Local Government.

How did Tesco respond to its customers during food collection initiatives?

Tesco donated more than 2 million meals to support communities and provided free school meals to over 2 million school pupils.

What must products be according to the Consumer Rights Act?

Products must be of satisfactory quality, fit for purpose, and as described.

What was Volkswagen accused of by the Environmental Protection Agency (EPA)?

Cheating emissions tests in the US, known as the 'diesel dupe'.

What is a SWOT analysis used for in businesses?

SWOT analysis is used to analyze a business's internal environment and external operations to make decisions now and in the future.

What is one strength of Tesco?

Tesco operates 4,506 stores globally.

What does rising disposable income allow businesses to do?

Businesses can stock luxury goods, target higher income customers, and implement different pricing strategies.

What are three possible actions to improve negative cash flow?

Negotiate an overdraft facility, keep costs under control, and arrange sensible credit agreements.

What is trade credit?

A business arrangement where a buyer can purchase goods and pay for them later, allowing for cash flow management.

What action did Window Warehouse take regarding loans and overdrafts?

They reduced their bank loans and overdrafts from £13,650 in 2023 to £4,327 in 2024.