VCE Business Management Unit 3 and 4 Exam Revision

What are the main approaches of Porter's Generic strategies that are relevant for our exam?

• Lower Cost and Cost Leadership

• Lower Cost and Product Differentiation

• Focus and Cost Leadership

• Systems Thinking and Persona Mastery

Which one is not a business objective (as listed in the current study design)

• To make a profit

• To fulfil a social need

• To fulfil an environmental need

• To increase market share

Which answer is incorrect? A feature of an autocratic management style is

• Decisions are explained to employees

• Little trust is placed in employees

• It is centralised decision making

• Communication is one way (downwards)

What is the first level of Maslow's Hierarchy of Needs?

• Safety needs

• Psychological Needs

• Physiological Needs

• Self-Actualisation

What are the four main strategies to improve efficiency and effectiveness of operations?

• Just in time, TQM, Waste minimisation

• TQM, Materials Management, Waste minimisation (lean Management), Technology

• Quality, Technology, Materials Management, Facilities layout

• Technology, Materials Management, Quality, Lean Management

Which is not a strategy related to quality management?

• TQM

• Quality Control

• Quality Assurance

• Quality Checks

Methods of determining wages and conditions?

• Awards, collective bargaining, unfair dismissal claim

• Awards, enterprise agreement, individual contract

• Enterprise agreement, awards, performance management

• None of the above

The three elements of an operations system are

• Unfreeze, Movement, Refreeze

• Technology, Quality, Materials Management

• Inputs, Processes, Output

• Resources, Labour, Product

The main strategies associated with Materials Management include

• JIT, MPS, MRP, Analysing

• JIT, TQM, Quality Control, Quality Assurance

• JIT, MRP, MSP, Analysing

• Forecasting, MRP, JIT, MPS

Which of these is not a management skill

• Budgeting

• Communication

• Delegation

• Decision Making