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WorksheetsBA Revision Session 5 - Business Fundamentals
Total questions: 10
Worksheet time: 5mins
An example of an internal change force 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 ‘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?
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
resources that hold value to the organisation
Positive cash flow is when:
purchases through petty cash are documented accurately
income from sales exceeds outgoing expenses of the organisation
a creditor lends money to an organisation to purchase stock
the level of revenue received by an organisation increases month on month
What are the steps of a project lifecycle?
planning, execution, change, delivery
initiation, planning, execution, closure
initial, project, change, outcome
plan, strategy, quality, success
What is the purpose of a GANTT chart?
To help guide project management activities
An inventory management system making products available exactly when they're needed
Ease communication between project teams and stakeholders
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
