Unit 2 Bus Man Final Exam Revision

Question 1

T or F? A 'direct distribution channel' is when a product is sold directly from producer to consumer

Accepted Answer

True

Question 2

Why is good record keeping essential when running a business?

Accepted Answer

So you can evaluate and monitor financial performance of the business

Question 3

Who administers taxation compliance in Australia?

Accepted Answer

ATO

Question 4

Which of these are examples of selection methods to recruit staff?

Accepted Answer

Websites, Social Media, Online Recruitment Agencies, Internal Recruitment

Question 5

Which of the following are areas that 'policies' may be developed for?

Accepted Answer

OH&S, Anti Bullying, Customer Service eg returns, Equal Opportunity

Question 6

What is the best definition of a 'procedure'

Accepted Answer

Step by step instructions of how to do something

Question 7

Policies are important to (select two)

Accepted Answer

ensure business complies with legal and other requirements, ensure values of the organisation are clearly communicated

Question 8

A policy is a written statement of the processes, procedures, rules and regulations of a business. T or F?

Accepted Answer

True

Question 9

What characteristics might be used to describe customers from within a 'target market'

Accepted Answer

Georaphic eg rural or urban, Demographic eg age or gender, Behavioral eg convenience shopper, Psychographic eg social class

Question 10

What does the 'pareto principle' state in marketing terms?

Accepted Answer

80% of business revenue is generated by 20% of the customer base

Question 11

T or F? An 'indirect distribution channel' includes a middle man such as a retailer or wholesaler

Accepted Answer

True

Question 12

What are two potential disadv's of choosing supplier who meet your CSR objectives?

Accepted Answer

Their products might be more expensive, It limits the number of suppliers you can chose from

Question 13

Disadv's of being a 'casual' employee include

Accepted Answer

Limited job security, Not being eligible for entitlements like annual or sick leave

Question 14

Market Research can assist a business to:

Accepted Answer

Reduce risk when introducing a new product, Assess current products, packaging etc to see if changes need to be made, Predict future trends

Question 15

T or F? "Corporate Social Responsibility" refers to businesses acting in an ethical & socially responsible manner

Accepted Answer

True

Question 16

Two advantages of external recruitment are:

Accepted Answer

Larger pool of applicants to choose from, New ideas brought into the business

Question 17

Two advantages on internal recruitment are:

Accepted Answer

Cheaper as no external recruitment agencies reqd, Quicker as no induction needed

Question 18

Which of the following are examples of market research?

Accepted Answer

Phone Interviews, Questionnaires, Focus Groups

Question 19

Adv's of a good induction program include

Accepted Answer

Encouraging a sense of belonging, communicating values, beliefs & expectations, Creating a favourable impression, Increased productivity

Question 20

What is an adv of choosing a supplier who meets your CSR objectives?

Accepted Answer

It is good for the image of your company

Question 21

Disadv's of direct distribution include:

Accepted Answer

Product not on display in retail outlets, Producer needs warehouse to store stock

Question 22

Disadv's of indirect distribution include:

Accepted Answer

Profit is shared with intermediaries, Customers can choose competitors product

Question 23

Which of the following are examples of legal requirements when setting up a business?

Accepted Answer

All of the above

Question 24

Job design is the process of designing a job that provides challenge & variety to keep an employee engaged

Accepted Answer

True

Question 25

Adv's of indirect distribution include:

Accepted Answer

Producer focuses on producing rather than selling, Producer doesn't have to store stock

Question 26

What does ASIC stand for?

Accepted Answer

Australian Securities & Investment Commission

Question 27

An 'employee induction' is:

Accepted Answer

The process of introducing new workers to the company

Question 28

Advantages of direct distribution channels include:

Accepted Answer

Producer has full control of marketing, pricing etc, More profit for producer, Can provide 24/7 access

Question 29

Considerations when choosing suppliers include:

Accepted Answer

Competitive Pricing, Timeliness, Quality

Question 30

Legal obligations when staffing a business include:

Accepted Answer

Equal employment opportunities, Gender Equality, Provide a Healthy work environment

Question 31

A 'target market' is

Accepted Answer

the market at which a product or service is primarily aimed

Question 32

Job Analysis is the process of looking at a job to find out what it entails and what skills & experience it requires

Accepted Answer

True

Unit 2 Bus Man Final Exam Revision

Questions 32

Unit 2 Bus Man Final Exam Revision

Questions 32