Interactive Reading — Business

Companies that invest in employee training tend to have lower staff turnover and higher productivity. Training programmes help workers develop new skills, which increases their value to the organisation and their own job satisfaction. Employee training benefits companies by ___. A) reducing the number of employees needed B) lowering turnover and increasing productivity C) eliminating the need for management D) making jobs less specialised

Online shopping has grown rapidly because it offers consumers convenience, a wider selection of products, and often lower prices than physical stores. However, the rise of online retail has led to the closure of many high street shops, particularly in smaller towns. The growth of online shopping has caused ___. A) prices in physical stores to drop significantly B) the closure of many high street shops C) consumers to prefer in-store shopping D) an increase in the number of physical stores

Franchise businesses allow entrepreneurs to operate under an established brand name using a proven business model. The franchisee pays an initial fee and ongoing royalties in exchange for the right to use the brand, training, and marketing support. A franchisee receives ___. A) complete ownership of the brand B) the right to use the brand and receive support C) free marketing without any costs D) a government subsidy to start the business

Customer feedback is a valuable source of information that helps businesses identify what they are doing well and where they need to improve. Companies that actively listen to their customers and make changes based on feedback tend to retain more clients and attract new ones through positive word of mouth. Companies that respond to customer feedback tend to ___. A) lose existing customers B) increase prices to cover costs C) retain more clients and attract new ones D) reduce the quality of their products

Supply chains are the networks of organisations, people, and activities involved in getting a product from the manufacturer to the consumer. Disruptions to supply chains — caused by natural disasters, pandemics, or political instability — can lead to product shortages and price increases. Supply chain disruptions can lead to ___. A) lower prices for consumers B) product shortages and price increases C) faster delivery times D) reduced manufacturing costs

Start-up companies often face a period known as the 'valley of death', where they have spent their initial funding but have not yet generated enough revenue to sustain operations. Many promising businesses fail during this stage because they run out of cash before their product gains traction. The 'valley of death' refers to a period when start-ups ___. A) are at their most profitable B) have too many customers to serve C) have spent initial funding but not yet earned enough revenue D) are ready to expand internationally