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WorksheetsBusiness As level - Revision
Total questions: 52
Worksheet time: 26mins
Isaac feels like his hard work is never recognised. Which level of needs (Maslow) is not being satisfied?
Self-Esteem
Social
Self-Actualisation
Physiological
Which of the following could be used to satisfy Maslow's Self-Esteem Needs?
Provide employees with a free breakfast at work
Organise a staff lunch at a restaurant every Friday
Introduce an 'Employee of the Week' Award
Introduce flexible working hours so staff can start their working day later
What is the correct definition for 'Commission'?
Monthly pay, same amount despite the number of hours worked
Staff are paid for the number of items produced
Staff are paid a percentage value of items sold
A payment for producing quality goods
Private health insurance is what type of incentive?
Performance related pay
Commission Based
Bonus scheme
Fringe Benefit
Job rotation
Adds a variety of different tasks of the same level to make job more diverse
Involves workers swapping round and doing each specific task or working in a different department for a limited amount of time
Involves adding more responsibility with different skills
Fringe benefit
Non-financial methods include
Praise and recognition
salary and commission
Job rotation, Job Enlargement
Company car and cell phone
Which of these is NOT a monetary method of motivation?
Comission
Pay Rise
Recognition
Bonuses
Which of these is NOT a monetary method of motivation?
Comission
Pay Rise
Recognition
Bonuses
Takeover: when a company buys more than ____ of the shares of another company and becomes the controlling owner of it
60%
30%
40%
50%
"integration with a business in the same industry but a customer of the existing business" is the definition of?
Horizontal integration
Vertical backward integration
Vertical forward integration
Conglomerate integration
"having control supplies of materials to competitors" is an important advantage of ?
Horizontal integration
Vertical forward integration
Conglomerate integration
Vertical backward integration
Horizontal integration can leads to bad publicity or monopoly investigation. Why?
consumers suspect of uncompetitive activity and react negatively
lack of clear focus and direction because the business is spread across more than 1 industry
business is now able to control the promotion and pricing of its own products
combined business may exceeds certain market share limits
Conglomerate integration provides more job security because?
its can secures a secure outlet of for the firm's products- may now exclude competitors's products
risks are spread across more than one industry
consumers may obtain improved quality and more innovative products
they may be more varied career opportunities
what is the possible strategies to deal with managerial problems?
decentralization
when proposing takeover, offer shares in the new business rather than making cash offer to the shareholders
adopt focused marketing strategies for each specific product
all 3 are correct
marketing problem for rapid growth
all 3 are correct
may not succeed if market strategies are not suitably adapted
adopt focused marketing strategies for each specific product or each country
existing management may be unable to cope with problems
Nike's decision to enter the fast foods market and leave clothing is an example of a...
top level management decision
middle level management decisions
bottom level management decisions
mezzanine level management decisions
... are/is the need to feel safe, but is/are also related to the fear of losing a job.
Physiological needs
Security needs
Social needs
Esteem needs
what is the most important aspect of a business manager
leadership
creativity
originality
careness
define extension strategies
planning marketing mix decisions
marketing plans to extend the maturity stage of the product
giving each customer the products and services they have indicated
build customers loyalty
measurable features of a product that can be easily compared with other products
brand
product
intangible attributes of product
tangible attributes of product
identify benefits of effective USP
opportunities to charge higher price
higher sales than undifferentiated products
products considered to be important to customers
free publicity from business media reporting on the USP
factors that determine product elasticity. choose 3
whether it's a new or existing products
how many similar competing products or brands
how necessary the product is
business and marketing objectives
the level of customers loyalty
define full-cost pricing
setting prices based on the variable costs of making a product inotder to make a contribution towards fixed costs and profit
base its price upon the price set by its competitors
setting a price by calculating a unit cost for the product (allocate fixed and variable cost)
setting a price that will give a required rate of return at a certain level of output/sales
adding a fixed mark-up for profit to the unit price of a product
market size
the percentage change in the total size of a market over a period of time
the percentage of sales in the total market sold by one business
the total level of sales of all producers within a market
the market price that equates supply and demand for a product
An expansion of a business by means of opening new branches, shops or factories (also known as organic growth).
internal growth
external growth
advertising
enterprise
The total value of sales made by a business in a given time period.
revenue
capital
price
target market
Which of the following is not accepted as ways to measure business size?
Number of employees
Revenue
Capital employed
Profit
Which of the following is a correct example of external growth?
merger
sole trader
opening new branches
loan
Which of the following is an importance of small & micro-business?
not many jobs are created by small firms.
small businesses are often run by dynamic entrepreneurs, with new ideas for consumer goods and services.
small firms cannot create competition for larger businesses.
small firms often cannot supply specialist goods and services to important industries in a country.
Disadvantage of large business.
may often suffer from a divorce between ownership and control that can lead to conflicting objectives
few opportunities for economies of scale
may have limited access to sources of finance
may not be diversified, so there are greater risks of negative impact of external change
They want to make a profit on the money they have invested in the business.
customers
managers
government
owners / shareholders
They want to buy quality goods from a business for a fair price.
employees
lenders
customers
managers
One airline institutes a new charge for luggage, and the other airlines each begin to charge for this same item. In this scenario, what is the main factor affecting the price of the product?
Cost of running the business
Demand for the product
Cost of making the product
Competitor's price
What is the term that refers to the functions used to move products through the channel to the consumer?
Promotion
Breakeven analysis
Channel of distribution
Physical distribution
Which pricing objective focuses on generating the highest possible profits?
Increase market share
Maximize profits
Match the competition
All of the above
Which pricing method sets the price of the product on what the customer is willing to pay?
Cost-oriented pricing
Market-share pricing
Demand-oriented pricing
Competition-oriented pricing
Which promotional method involves paying money to influence people through broadcast, digital, or print media?
Advertising
Public relations
Personal selling
Sales promotions
What is promotion?
The value placed on a product, usually given in monetary terms.
A company's portion of the total industry sales for a certain type of product.
Determining how to get the product to the right people, in the right amounts, at the right time and place.
Any form of communication that a business uses to inform, persuade, or remind potential customers about their products.
Which of these statements about publicity is NOT TRUE?
Publicity is free since the information appears in the news media.
The information tends to be viewed as more credible.
Marketers control how the information is presented.
Publicity is one part of public relations.
Factors that affect price are
Cost of making the product
Cost of running the business
Competitor's price
Demand for the product
All of these
