Business Management - (pg 11-20)

A SWOT analysis and market analysis are activities involved in which process?

• Setting objectives

• Evaluation of business plan

• Situational analysis

• Establishing mission statement

Which of the following is an indication of an efficient warehousing system?

• It is a large warehouse

• Located in the CBD

• Has excess stock

• Short lead time

Which of the following is a financial goal of a business?

• Providing community service

• Improve share price for investors

• Increase employment opportunities

• Increase the number of products on the market

In a SWOT analysis, which of the following would be considered a strength in a business?

• Strong economic growth

• Decrease in interest rates

• Decrease in fringe benefit tax

• Low level of workplace disputes

KT Foods has a strict hierarchical organizational structure and management breaks down work tasks for employees into simple repetitive steps. What management approach is KT Foods using?

• Political

• Classical

• Behavioural

• Laissez faire

Which business function aims to add value to raw materials as they are transformed into final goods?

• Finance

• Marketing

• Operations

• Human resources

Which of the following is an example of a short-term loan?

• Lease

• Mortgage

• Debenture

• Overdraft

Rosanna runs a personal training business. Her role involves training new employees. Which element of the human resource cycle is Rosanna undertaking?

• Acquisition

• Development

• Maintenance

• Separation

In order for a business to calculate gross profit, which of the following needs to be deducted from sales revenue?

• Expenses

• Liabilities

• Owner’s equity

• Cost of goods sold

What of the following items on a cash flow statement is a selling expense?

• Wages

• Interest

• Insurance

• Dividends