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WorksheetsGroup Session 8 - BA Module 6 Business Fundamentals Assessment
Total questions: 15
Worksheet time: 8mins
An example of an internal force of change is:
customers revising buying habits
a new competitor entering the market.
a general election
problems in staff morale
At the start of a project, a cash flow problem is most likely to be caused by:
allowing customers too much credit
a high investment in the resources being required for the project
holding too much stock
employees demanding higher wages due to their increased responsibilities
What is profit?
when prices increase, consumers buy less
the expenses after all costs are paid
the income that is left after all costs and expenses are paid
borrowing money to run a business
Incremental change involves
developing and implementing a series of improvements over time
replacing existing processes or systems in a one-off activity
implementing an immediate shift in working culture
reinforcing the rationale for improvements
The most appropriate definition of ‘innovation’ is:
deciding the arrangements
producing a dynamic plan for the implementation of a new project
creating something that has never been made before
turning an idea into a solution that adds value to the organisation or customer
The most appropriate definition of ‘niche marketing’ is targeting:
a narrowly defined group of potential customers who are interested in a specialist product or service
a broad range of consumers who are interested in specialist products or services
consumers who are within a specific age range who are interested in a broad range of products or services
a broad range of customers who regularly purchase expensive products
What are assets?
resources that hold value to the organisation
a statement given to the organisation when goods have been returned.
the amount of money that is left over after an organisation has taken its expenses away from its income.
money that the organisation owes
Positive cash flow is when:
purchases through petty cash are documented accurately
a creditor lends money to an organisation to purchase stock
the level of revenue received by an organisation increases month on month
income from sales exceeds outghoing expenses of the organisation
The most appropriate definition of a contingency plan is:
a course of action to be followed if a preferred plan provides unwanted results
the primary course of action used to achieve a business objective.
a proposal which focuses on high-level options, setting the main priorities
a blueprint setting out the growth and expansion intentions of an organisation
What is meant by opportunity cost?
The amount of money in the bank
The opportunity to motivate employees to make more money.
The loss of other, more profitable alternatives when you have to do something else.
Making plans to cope with an event or risk.
What are the steps of a project lifecycle?
initial, project, change, outcome
planning, execution, change, delivery
plan, strategy, quality, success
initiation, planning, execution, closure
What is the purpose of a GANTT chart?
To help guide project management activities.
Ease communication between project teams and stakeholders
An inventory management system making products available exactly when they're needed
A tool used to schedule, organise, estimate and coordinate tasks within a project
An employee’s net pay is:
the amount of variable deductions, such as tax and National Insurance
the amount of tax paid to HMRC
the total amount of take-home pay after deductions
the full pay before tax
What is the first step in planning?
setting goals and objectives
identifying tasks and resources
developing a timeline
implementing the plan
What is the best way to manage priorities?
focus on the most important tasks first
delegate tasks to others
set realistic deadlines
all of the aboce
