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WorksheetsY12 Business - Knowledge blast
Total questions: 52
Worksheet time: 32mins
What is a business plan?
Written document that only outlines the business practices of the new business.
Written document that describes the financial aspects of the business.
Written document that only describes the ownership of the business.
Written document that describes all the steps necessary for opening and operating a successful business.
Why do you need a business plan?
To explain your idea
the ability to get financing.
it's a road map that sets objectives and goals for the business.
To help reduce the risk of business failure.
All of the above.
Why do businesses use market research?
To identify customer needs
To sell goods and services
To advertise
What is the first step for a new business?
To attract repeat purchases
To attract trial purchases
To attract advertising
What does desk research involve?
Gathering new data
Gathering existing data
Conducting surveys
What is information collected about opinions and views called?
Quantitative data
Qualitative data
Segmentation
How does accurate market research help a business?
By avoiding risk
By reducing risk
By eliminating risk
What does a market segment identify?
All products in the market
Competitors
Groups of people with similar buying habits
What can a market map be used to identify?
Gaps in the market
Competitors
Groups of people with similar buying habits
What is the name of an individual who is asked questions in a survey?
A supplier
A sample
A respondent
What are the total number of people selected to answer market research questions called?
A supplier
A sample
A respondent
Which of the following is an example of primary research?
Internet research
A focus group
Company reports
Business operations is the department in a business that is responsible for:
Marketing
Finance
Production of goods/provision of services
Human resources
Which of the following products is likely to be made using job production?
Heinz baked beans
Cadburys Dairy Milk
Land Rover car
Made to measure wedding dress
Which of the following is a feature of flow production?
Products are produced continually on a production line
Products are one-off meeting customer needs exactly
Products are made in small identical groups
Cost of producing one unit is high
A benefit to a business of introducing lean production methods is that:
Unit costs should be minimised in the long term
New processes will be easily implemented
Training costs will be low
All staff will be happy to take on additional responsibilities
Which of the following stock control methods would involve frequent deliveries?
Flow production
Just in case
Job production
Just in time
A business that becomes more streamlined as a result of effective supply chain management is said to be running more:
Bureaucratically
Expensively
Efficiently
Autocratically
Which of the following is a benefit to a business of minimising waste in its supply chain?
Lower unit costs
Higher labour turnover
Higher revenue
Purchasing economies of scale can be achieved
Which of the following is a direct benefit of having an efficient logistics department?
Products arrive exactly when needed
Labour productivity will reduce
Efficiency will be minimised
Staff motivation will increase
Total quality management aims to:
Give production line staff minimal say in the level of quality standards
Check quality standards at the end of the production line
Ensure that quality is the responsibility of everyone in an organisation
Ensure a single person/single team is responsible for quality
The process of meeting customer needs successfully before, during and after a sale is called:
Procurement
Kaizen
Customer service
The sales process
Which of the following is a danger to a business of offering poor customer service?
Increased flexibility with pricing
Increased revenue
Negative word of mouth
Satisfied customers
Who was largely responsible for inventing an efficient operations system for mass producing standardised goods?
Jane Fonda
Henry Ford
Elon Musk
Marius Ortner
Which of these is NOT a benefit of mass producing standardised products?
Economies of scale
Unique products consumers value
Fewer errors in production
Task specialisation for employees
Software that is used to create a 3D model of what a product will look like after production using exact specifications is called Computer-aided...
(a)
