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Business Organization
Business Organization
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Oxford IB Diploma programme Chapter 1
Flashcards
100 cards
F
Practice quiz
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Host live
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Questions
100
Answers
1
Redundancy is when
something happens
This Kahoot becomes useful
En employee leaves a business at the end of their contract
A business no longer has any work for an employee
2
____ gives the firm an idea of what it owns and owes including how much shareholders have invested in it.
Profit and loss acoount
Balance Sheet
3
A tall structure has
many levels of hierarchy
wide spans onf control
few levels of hierarchy
narrow spans of control
4
Labour turnover is
the movement of employees in and out of a business
an indicator of how stable a company is
A mesaure of worker effiency
a measure of how many applicants are rejected by the businees
5
Elments of a Business plan include
Operations
Business idea
Finance
Organization
6
Liqutidy ratios assess how well a firm internally utilizes its assets and liabilities.
True
False
7
Internal factors affect the HR plan
True
False
8
Re-Orientation Strategies are a combination of
Strengths and Threats
Strengths and Opportunities
Weaknesses and Opportunities
Weaknesses and Threats
9
Equity theory is the idea that
Standardization is key to effective working. (Winslow Taylor)
businesses must nurture motivation. (Daniel Pink)
a balance between input and output makes workers motivated (John Adams)
motivational needs motivate empolyees. (Fredrick Herzberg)
10
Break even point is when total contribution - fixed costs =
O
Less than 0
More than 0
0
11
Chain of command ensures that
a business has good hierarchy.
with great power comes great responsibility
decision are made with the approval of superiors
No one can escape their job.
12
Which are not profitability ratios?
ROCE
GPM
NPM
Current ratio
13
Domestic business are impacted by globalization through
J.O.E
Sciece
Increased competition
Skills transfer
14
Advantages of being a franchisee include having
to pay royalities
an Established business format
Unlimited liability
an Established product
15
Which is not an internal source of finance?
Overdraft
Sale of assets
Personal funds
Retained profit
16
Direct costs are clearly linked with the production of products, while indirect costs are not
True
False
17
Internal changes in a company do not include _____ changes
Product related
Technological
Financial
Leadership related
18
___ = a source of finance that allows a firm to use an assets without having to purchase it by cash
Overdraft
Debt factoring
Leasing
Stealing
19
Contribution per unit is
price per unit / variable cost per unit
price per unit - variable cost per unit
total revenue- total variable cost
The answer is red.
20
Profitability ratios assess the performance of a firm in terms of its profit-generating ability.
False
True
21
Long term liabilities are payable after a year while short termliabilities are payable within a year.
False
True
22
Labour pool of potential workers is affected by
technological change
changes in business organization
social trends
state of economy
23
Corporate Social Responsibility is more specific than etical objectives
True
False
24
A manager is more result oriented, while a leader has a more emotional connection to the employees.
True
False
25
Cultural differences include
Personal space
Dress
Right to privacy
Power distance
26
Offshoring is outsourcing a process to another country.
True
False
27
______ Is not a For-Profit Social Enterprise
Partnership
Microfinancers
Cooperatives
PPP
28
Select the Short-term finance options
Trade credit
Debt factoring
None of the above
Share capital
29
Levels of hierarchy mean the different levels of responisbility in a company.
True
False
30
The Ansoff Matrix considers both
Markets and Producers
Marekting and producers
Marketing and Products
Markets and Products
31
When selecting a source of finance a business needs to consider
Flexibility
State of the external enivronment
Company size
Amount required
32
"STEEPLE" framework frames issues in the external environment
False
True
33
Variable costs include
Raw Material costs
Rent
Transportation costs
Packaging costs
34
Which type of training is not about learning the job?
On-the Job
Induction
Off-the-Job
Cognitive
35
____ shows the records of income andexpenditure flows of a business over a given time period
Balance Sheet
Profit and loss acoount
36
Increasing wages vs meeting profit targets is a conflict between
Employees and Shareholders
Employees and Owners
Owners and Customers
Customers and Shareholders
37
Professional accountants have a responsibility to act in the public interest.
False
True
38
A Car making company buying a car manufacturer is
Conglomeration
Forward vertical integration
horizontal Interation
Backward vertical Integration
39
Current assets last to up to 18 months while fixed assets last for more than 18 months.
True
False
40
Is this quiz getting too long?
Mayhaps.
Yes. Please make it stop.
No, it's awesome
Are we supposed to learn something?
41
Interests for Internal Stakholders include
coordinating the business strategy and delivering profits
the best product that meets their needs.
how the business operatesin the business environment.
protecting their rights and working conditions.
42
A truck driver works in t
he _____ Sector
Quartenary
Secondary
Tertiary
Primary
43
A Car making company buying a TV company is
Conglomeration
Forward vertical integration
horizontal Interation
Backward vertical Integration
44
Changes in work patterns, practices and preferences are caused by external factors
True
False
45
Strategic alliances are different from Joint Ventures since they can involve multiple independant companies
True
False
46
Businesses aim for a high labour turnover.
False
True
47
A farm buying a conveniance store is
horizontal Interation
Forward vertical integration
Backward vertical Integration
Conglomeration
48
A Franchisee sells their original business idea to Franchisors
True
False
49
An autocratic leader will
involve employees in the decison making process
hold on to as much power as he can.
instill trust and loyalty to the employees.
send you to the Gulag.
50
How many lines do you at least need on a break even chart?
1
3
2
4
51
Profit = Revnue - Costs
False
True
52
Ethical objectives can help the business commercially by
Building customer loyalty
developing a positive work environment
Increasing potential of legal redress
reducing costs in the short term
53
The "E"s in STEEPLE stand for
Easy, Excellent, Enjoyable
Economic, Ethical and Ecological
Economic, Ethical and Exceptional
Economic, Exceptional and Ecolohical
54
Target profit output is
(fixed cost+ target profit) / contribution per unit
(fixed cost- target profit) / contribution + contribution per unit
(fixed cost- target profit) / total contribution
the output
55
Which of the following is not a leadership style
Situational
Maternalistic
Democratic
Laissez-faire
56
Delegation is
when the business loses market share
when many people are dismissed at once
a cool word
when a boss gives authority on a decision to a subordinate
57
McDonalds sells
No
Products
Services
Yes
58
Formative appraisal measures an employees performance according to set standards.
True
False
59
Which is a benefit of appraisal for the business?
It acts as a check on performance
It can lead to change in career direction.
It helps career progrees
It's instructive
60
A mission statement is a a philosphy or set of principles which steers the dircetion and behaviour of an organization
True
False
61
____ = funds provided by a goverment that do not need to be repaid
Street credit
Tax
Trade credit
Grands
62
Direct costs are mostly variable costs.
False
True
63
_______ are not stakeholders
Employees
Customers
Competitors
Levels of goverment
64
Organizational structure can be organised by
region
function
hierarchy
prodcut
65
Bad appreisals are
directly linked to pay or promotion.
low on paperwork
separate from disciplinary systems.
honest exhanges of views.
66
Advnatages of a big business include
Market Leader Status
Economies of Scale
greater focus
Survival
67
Advanta
ges
of Non-profit or
g
anizations include
Positive spirit iin community
Irregular funding
Encourage social change
They help causes in need
68
Non financial rewards include
empowerment
Salary
Job enlargment
Share ownership
69
For a balance sheet to balance a firm’s net liabilities should equal its equity.
True
False
70
Who are not internal stakeholders?
employees
customers
shareholders
managers
71
Maslow belived tha human needs
red answer but in green.
would motivate meployees when met.
prevent efficent working
can becategorised in levels of importance.
72
____ a snapshot of the financial position of a firm andis used to calculate a firm’s net worth.
Balance Sheet
Profit and loss acoount
73
A franchisor will provide
global advertising
Stock
Local advertsing
Staff
74
All shareholders are stakeholders, but not all stakeholders are shareholders
True
False
75
Semi-variable costs and semi-fixed costs refer to the same concept.
False
True
76
Total revenue is
The answer is yellow.
Price per unit x quantity sold
Price per unit x quantity told
Price per unit / quantity sold
77
Medium-term finance lasts for ___ years.
1-5
1-10
1-3
0-1
78
Ethical issues in the HR plan include
Salaries
Health and safety
Humour
Induvidualism
79
A Car making company buying a metal manufacturer is
Backward vertical Integration
Conglomeration
horizontal Interation
Forward vertical integration
80
In a break even chart what goes on the y-axis and x-axis?
Y-axis is the costs/revenue
X-axis the costs/revenue
X-axis Is the output
Y-axis is the output
81
Outsorcing is when
a business hires employess from other countries
.
when a business employs another business for a process
business hire more people
82
External economies of Scale are effiences that a business achieves because someone else expanded
True
False
83
Intrinsic motivation comes from the satisfaction of completing a particular task
True
False
84
_____ Is Not an offical reason to start a business
Interest
Justice
Rewards
Independance
85
The four parts of the HR plan in order are
recruitment, training, apprasial, dismissal
recruitment, appraisal, training, dismissal
recruitemnt, dismissal, training, appraisal
dismissal, training, appraisal, recruitment
86
Diseconomies of Scale is when the more you produce, the less you make profit
True
False
87
Whichg of the following are Fixed Costs?
Monthly rent
Delivery
Raw materials
Insurance
88
Who are not external stakeholders?
Financiers
All three are external stakeholders
Local community
Competitors
89
Centralization is found where decisions are made by middle managers.
False
True
90
Which is not a part of the recruitment process?
application
budgeting
identification
selection
91
Intangible assets include
Goodwill
Liquitidy ratio
Trademark
joe mama
92
The goals of of HR are to ____
Ensure a positive work evnivironment
Ensure people know about the company
Have the right number of employees
Ensure employees are qualifed
93
What is a limitation of break even analyis?
It assumes that all the lines are linear.
It is a simple and visual means of analysis
Formulae can also be used for even more precise results
The impact of changes to costs and prices is easy to see
94
Span of control refers to
Me
The number of markets the company is in
The amoun of power HR has over the workers
The number of employyes a manager manages
95
Margin of safety is the current output + the break-even output
False
True
96
____ is alsoknown as an income statement.
Balance Sheet
Profit and loss acoount
97
"STP" in STEEPLE stands for Social,Tactical and Legal
True
False
98
Chain of production means
A chain used to produce productsin factories
Turning raw materials into consumables
Turning raw materiasl into goods and services
No
99
Termination is when an employee has broken the terms of their contract and has to leave a business
True
False
100
Capital expenditure and revenue expenditure refer to the same concept.
True
False
