Business Studies yr 11

An Executive summary, goals, SWOT analysis and resource plans make up which business document?

• Operational Plan

• Business Plan

• Business Forecast

• Cash Flow Projection

A Human Resource plan includes identifying how many staff and what special skills/experience are required for success.

• True

• False

Sources of planning come from both the internal and external environment. Government regulations, product suppliers and market competitors are examples of influences in the:

• Internal environment

• External environment

A SWOT analysis, is an acronym for:

• Staff

  Workplace

  Opportunities

  Trials

• Strengths

  Weaknesses

  Opportunities

  Threats

• Strengths

  Workplace

  Operations

  Threats

• Staff

  Weaknesses

  Operations

  Trials

Strategic goal, Tactical objectives, and Operational goals should all link back to the business' vision. What level of management is responsible for identifying and implementing operational objectives?

• Owner

• Senior Management

• Middle Management

• Front-line Management

What are some examples of long-term growth strategies?

(hint. choose 3 options)

• Product innovation and quality

• Market share expansion

• Recruitment process

• Greater production efficiency

A Strategic Alliance is when...

• There are only two businesses in the market

• When a business is chosen by the government to provide a good or service

• Two or more businesses work together to provide a superior good or service

• A business provides a discount to their customer to increase sales

What are the four areas of resources that require organising and planning for?

• Operations

  Finance

  Human Resources

  Marketing

• Operations

  Finance

  Human Resources

  Public Relations

• Objectives

  Supply Chain

  Materials

  Public Relations

• Objectives

  Supply Chain

  Materials

  Marketing

Forecasting helps a business to plan resources for upcoming sales as well as ensure they are achieving enough revenue to cover running costs. When a business is achieving enough sales to cover costs, they are....

• In a loss cycle

• Breaking even

• In a profit cycle

FORMULA: Total Revenue = P x Q

• Price x Quantity

• Profits x Quantity

• Price x Quality

• Profits x Quality