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National 5 Business Management (1) Flashcards | StudBud
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National 5 Business Management (1)
National 5 Business Management (1)
60 terms
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Flashcards
60 cards
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Questions
60
Answers
1
Work is not done using this method of training
Job rotation
Off-the-job
On-the-job
Induction
2
An objective of a public sector organisation is...
Survival
Maximise Profits
Use Tax Payers Money Effectively
Maximise Donations
3
This quality method involves staff members talking about how to improve production
Employees
Quality circles
Quality control
Quality assurance
4
Name the pricing strategy
Promotional pricing
Cost plus
Price skimming
Loss leader
5
Name the external factor
Political
Social
Environmental
Technological
6
An impact of poor customer service is...
Bad Reputation
Reduced Sales
Fall in Profits
Lost Customers
7
Name the method of promotion
Sponsorship
Celebrity endorsement
Special offers
Point of sale
8
Name the method of production
Job
Batch
Flow
9
What does I P O mean?
Inward Products Owner
Inward Process Output
Inputs Process Outwards
Inputs Process Output
10
Name the sector of economy
Public
Private
Third
11
Name the sector of economy
Public
Third
Private
12
Name the factor of production
Labour
Capital
Enterprise
Land
13
Employees can gain new qualifications with this method of training
Off-the-job
Induction
On-the-job
14
Name the sector of economy
Private
Third
Public
15
Market segmentation is...
A segment
Part of an orange
Splitting a market up completely
Splitting a market into different groups
16
At this stage in the PLC, sales are low and little or no profits are made
Decline
Growth
Introduction
Maturity
17
The National Minimum Wage (Regulations) are designed to...
Ensure equal pay
Prevent poverty
Eat into company profits
Grow the economy
18
This is when you are paid a % of sales
Bonus
Overtime
Piece rate
Commission
19
This quality method is about checking products at various stages of production
Quality assurance
Quality circles
Quality control
Benchmarking
20
A fixed costs is...
A cost that does not change with output
A cost that does change with output
A cost that stays the same
A cost that does not change
21
This quality method is about replicating what the market leader is doing
Raw materials
Benchmarking
Quality control
Quality assurance
22
Name the external factor
Social
Economic
Environmental
Competitive
23
Name the method of production
Flow
Job
Batch
24
Name the pricing strategy
Penetration pricing
Price discrimination
Loss leader
Price Skimming
25
A variable cost is...
A cost that never changes with output
A cost that changes all the time
A cost that changes from time to time
A cost that changes with output
26
This source of finance is paid back in equal installments, with added interest
Overdraft
Owners savings
Share Issue
Loan
27
Which is
not
part of the marketing mix?
Production
Promotion
Price
Place
28
Name the sector of economy
Private
Public
Third
29
Name number 1
Minimum Inventory Level
Maximum Inventory Level
Re-order Level
Re-order Level
30
Name number 4
Lead Time
Re-order Level
Maximum Inventory Level
Minimum Inventory Level
31
This type of training is done in house
On-the-job
Induction
eLearning
Off-the-job
32
Name the internal factor
Ability of Staff
Management
Current Technology
Finance Available
33
This stage of the PLC is when sales are at their highest, and most people have the product
Maturity
Introduction
Decline
Growth
34
Name the internal factor
Management
Finance
Ability of Staff
Current Technology
35
What method of production?
Job
Flow
Batch
36
Name the external factor
Social
Political
Environmental
Economic
37
Name the sector of industry
Secondary
Primary
Tertiary
38
Name the method of production
Flow
Batch
Job
39
Desk or Field?
Desk
Field
40
An advantage of job production is...
Lots of the same product can be produced
Higher prices can be charged
Meets the exact requirements of the customer
A one off product can be produced
41
Desk or Field?
Field
Desk
42
Desk or Field?
Desk
Field
43
A Private Limited Company can sell shares on the stock market?
False
True
44
Which of the following is a responsibility of the
employer
Health & Safety legislation?
Co-operate with their employers
Not interfere with anything provided
Provide a safe working environment
Take care of their own health and safety
45
Name the sector of economy
Private
Public
Third
46
A source of finance suitable to
expand
a business
Government Grant
Trade Credit
Share Issue
Overdraft
47
Which is
not
a protected characteristic under the Equality Act?
Sexual Orientation
Height
Religion
Disability
48
This is when you are paid for each hour worked
Piece rate
Overtime
Bonus
Time rate
49
A Stakeholder is someone who...
Wants a business to do well
Wants a business to succeed
Has an interest in a business
Has steak in their hand
50
Name number 2
Minimum Inventory Level
Maximum Inventory Level
Re-order Level
Lead Time
51
A potential cash flow problem is...
Being closed
No profits
Too much money tied up in inventory
Over-stocking
52
Which is
not
a problem of understocking
Products may be left unsold
Customer go elsewhere
Loss of sales
Poor reputation
53
A potential cash flow problem is...
A loss
Customers walking past shop
Too many drawings
Selling old machines
54
Break-even is when...
Total Revenue = Total Costs
Fixed costs = Variable Costs
Variable Costs = Total Costs
Total Revenue = Fixed Costs
55
A disadvantage of being a sole trader
Keep All Profits
Make All Decisions
Unlimited Limited Liability
Select Own Hours
56
Owners of a business are interested in...
Employee working conditions
Profit
57
Desk or Field?
Field
Desk
58
Desk or Field?
Desk
Field
59
Desk research is...
Information collected for one purpose
Easy
Done already
Research that gives brand new information
60
Maximum number of people allowed in a partnership is...
10
25
20
5
