unit 11 lesson 3

Which of the following is considered a core business value that should govern a well-run and sound business operation in Building Services Engineering for Construction?

• Market dominance

• Financial stability

• Rapid expansion

• Outsourcing

What business value emphasizes the importance of long-term welfare and support in Building Services Engineering for Construction?

• Customer loyalty

• Care for life

• Employee training

• Environmental sustainability

Which business value underlines the importance of honesty and clarity in operations in Building Services Engineering for Construction?

• Ethical and transparent business practices

• Competitive pricing

• Product innovation

• Global outreach

What does the business value 'collaborative working' emphasize in the context of Building Services Engineering for Construction?

• Individual achievement

• Teamwork and joint efforts

• Leadership roles

• Independent contractors

What does the financial stability of a construction company refer to?

• The company's ability to borrow money

• The company's ability to generate healthy profits for selling its services or products

• The company's ability to expand to new markets

• The company's ability to hire more employees

Why are company accounts and references often required in the construction industry?

• To comply with legal requirements

• To obtain tenders

• To pay taxes

• To hire staff

How can financial stability affect a client's assurance during a construction project?

• It assures that the company will expand quickly

• It assures that the company will hire skilled workers

• It assures that the company will not go bankrupt during the construction phase

• It assures that the company will use high-quality materials

Why is cash flow important for suppliers in the construction industry?

• It ensures that all suppliers are paid and no stops are placed on accounts

• It allows suppliers to invest in new technologies

• It helps suppliers in marketing their products

• It increases the stock value of the suppliers

What is considered an important aspect of a company's business values according to the text?

• Marketing strategies

• Customer service

• Product innovation

• Financial planning

According to the document, what should companies make open and transparent to customers?

• Business secrets

• Employee details

• Time, cost and quality of work

• Internal policies