Effectiveness in business is...

the degree to which a business has achieved it’s objectives.

Employees can recommend changes to policies, they may identify improvements/changes, such as

issues related to OHS,working conditions and pay.

Businesses exist in two environments - identify both...

External Environment, Internal Environment

The date and time for the Business Management master class is...

12 July (Week 2 of Holiday) 10:30-1pm @ Senior School, 12 July (Week 2 of Holiday) 10:30-1pm @ Senior School, 12 July (Week 2 of Holiday) 10:30-1pm @ Senior School

Level of Wastage is the amount of resources and...

finished goods discarded during the production process.

Porter's 5 competitive forces are, Supplier Power, Buyer Power, Competitive Rivalry,

Threat of Substitution, Threat of New Entry

Which of the following are driving forces

employees, competitors, legislation

Number of Workplace Accidents is a KPI that measures...

The amount of people injured or nearly injured at work.

Rate of Staff Absenteeism could be due to fear of working at the business or...

sickness, job dissatisfaction, OHS issues

The definition that best describes business change is the implementation of a.....

variation of an existing business concept or process.

Organisational Inertia relates to...

An unenthusiastic response from management to change.

Porter’s theory states that a business is able to gain a Competitive Advantage by focusing on..

The Generic Strategy of Lower Cost & Differentiation

being able to compare results against some form of standard.

Managers could also potentially act as a

restraining force on change that may occur in a business.

Advantages of the differentiation strategy include Taking advantage of higher supply costs and

Increased profit margin, Loyal customer following

Internal stakeholders include...

owners, shareholders, management, , employees, directors

The following factors in the Macro Environment that can influence change include....

Legislation, Innovation & Societal Attitudes, Technology

Driving forces can be described as those forces that provide...

movement and positive momentum in order for change to occur.

The Lower Cost Strategy according to Porter means that businesses are...

making the highest margin for the product.

Rate of Productivity Growth relates to the amount of Outputs produced compared to the amount of

Inputs used and the amount in which it increases over time

Net Profit is what remains when...

expenses are deducted from the revenue earned

Competitors will often be seen as a

driving force for change in business.

Differentiation can be based on the following features:

product image, durability, after-sales service, quality

Kurt Lewin developed his force field analysis as a way of identifying...

both restraining & driving forces for change

The external environment of a business include the following stakeholders...

government, competitors, interest groups,customers,

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AOS 1 Unit 4 BM Revision

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#Business Management unit 4

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Questions 37

Answers

1
Effectiveness in business is...
the degree to which a business has achieved it’s objectives.
the degree to which a business has maximised waste.
the degree to which a business has minimised waste.
if a business hasn't achieved it’s objectives.
2
Employees can recommend changes to policies, they may identify improvements/changes, such as
issues related to pay conditions only.
issues related to OHS,working conditions and pay.
issues related to profit, operations and pay.
issues related to cost reductions, conditions and pay.
3
Businesses exist in two environments - identify both...
External Environment
Micro Environment
Internal Environment
Stakeholder Environment
4
The date and time for the Business Management master class is...
What Master Class??
12 July (Week 2 of Holiday) 10:30-1pm @ Senior School
12 July (Week 2 of Holiday) 10:30-1pm @ Senior School
12 July (Week 2 of Holiday) 10:30-1pm @ Senior School
5
Level of Wastage is the amount of resources and...
near finished goods discarded during the production process.
inputs discarded during the production process.
finished goods discarded during the production process.
finished goods kept during the production process.
6
Porter's 5 competitive forces are, Supplier Power, Buyer Power, Competitive Rivalry,
Threat of Substitution, Threat of New Entry
Threat of Globalisation, Threat of Supplies
Threat of Substitution, Threat of Profits
Threat of Generic Goods, Threat of New Entry
7
Which of the following are driving forces
managers, time, employees
legislation, reduction in costs, financial considerations
organisational inertia, employees, managers
employees, competitors, legislation
8
For an advantage to be a Competitive Advantage it must be sustainable; sustainable meaning...
Long-term
Short-term
minimising waste & the business being environmentally aware
increasing profit & the business being environmentally aware
9
Number of Workplace Accidents is a KPI that measures...
The amount of people injured at work.
The amount of people injured or nearly injured at work.
The amount of accidents at work.
The amount of people nearly injured at work.
10
Rate of Staff Absenteeism could be due to fear of working at the business or...
sickness, job dissatisfaction, OHS issues
sickness, job satisfaction.
sickness, job satisfaction, OHS Issues
Management Styles, OHS Issues, job satisfaction.
11
Level of Staff Turnover is the number of staff leaving the business that need to be...
rejuvenated
replenished
recycled
replaced
12
The definition that best describes business change is the implementation of a.....
change in structure or restructure as it were.
new set of policies & procedures.
all the above.
variation of an existing business concept or process.
13
Organisational Inertia relates to...
An unenthusiastic response from management to change.
An enthusiastic response from management to change.
An aspect of Porter's Generic Strategies.
A driving force for change.
14
A Competitive Advantage can be gained by a business through offering consumers...
greater benefits and services that justifies higher prices.
Answer 1 & 3
greater value, through higher prices
greater value, through lower prices
15
Common forms of change include…
implemented new management structures
modified corporate culture
recruiting employees with new skills
all the above
16
Porter’s theory states that a business is able to gain a Competitive Advantage by focusing on..
The Generic Strategy of Driving & Restraining Forces
The Generic Strategy of Lower Cost & Differentiation
The Generic Strategy of Differentiation
The Generic Strategy of Lower Cost
17
Benchmarking is....
not about compare results against some form of standard.
a performance indicator.
being able to compare results against some form of standard.
nothing to do with Key Performance Indicators.
18
Competitors can drive a business to change through a number of different actions, such as...
to stay current and relevant to their customers.
Adoption of new technologies.
all of the above.
Pricing.
19
Change can be…
Answer 2 & 3
Proactive & Reactive
Incremental & Transformational
None of the above
20
Number of Sales is a measure of the amount of goods or services...
purchased by competitors
purchased by suppliers
not purchased by consumers
purchased by consumers
21
Managers could also potentially act as a
restraining force on change that may occur in a business.
player in the big scheme of business culture.
negative key performance indicator.
shareholder within the business structure of change.
22
Advantages of the differentiation strategy include Taking advantage of higher supply costs and
Increased market share & Loyal customer following
Loyal customer following
Increased profit margin, Loyal customer following
Increased profit margin, Increased market share
23
Internal stakeholders include...
owners, shareholders, management, customers, directors
owners, shareholders, management, customers
owners, shareholders, management, , employees, directors
owners, shareholders, management, customers, employees
24
Level of Staff Turnover is an important indicator for the...
Marketing Department
Human Resource Department
Operations Management Department
Sales Department
25
The following factors in the Macro Environment that can influence change include....
Customers, Competitors, Pricing, Management, Employees
Legislation, Innovation & Societal Attitudes, Technology
Legislation, Globalisation, Technology, Pursuit of Profit
Globalisation, Waste Reduction, Pursuit of Profit
26
Managers will often identify a need in a business which will then
initiate a change process.
initiate an improvement to the transformation process.
initiate an immediate overhaul of performance indicators.
restrain employees from the change required.
27
Driving forces can be described as those forces that provide...
opportunity for expansion
movement and positive momentum in order for change to occur.
managers or a business
restrain or hinder the driving forces.
28
The Lower Cost Strategy according to Porter means that businesses are...
making the highest margin for the product.
selling the product for the highest price.
selling the product for the lowest price.
making the lowest margin for the product.
29
Rate of Productivity Growth relates to the amount of Outputs produced compared to the amount of
Inputs used and the amount in which it increases over time
Money used to produce the Outputs
Inputs used and the amount in which it decreases over time
Inputs used
30
Net Profit is what remains when...
expenses are divided from the revenue earned
revenue is deducted from the expenses earned
expenses are deducted from the revenue earned
expenses are added from the revenue earned
31
Competitors will often be seen as a
competition for change.
driving force for change in business.
restraint in the production process.
welcome opportunity for change.
32
Rate of Productivity Growth Indicates that the business is using resources more...
effectively
efficiently
less over a period of time
over a period of time
33
Lewin's Force Field Analysis is made up of what
Driving forces
Restraining forces
a shield to protect a space ship
Driving and restraining forces
34
Differentiation can be based on the following features:
product image,after-sales service, quality, durability,price
after-sales service, quality, durability, price
product image, durability, after-sales service, quality
product image, price, after-sales service, quality
35
Risks involved with the differentiation strategy include,
All the above
Can involve higher costs
Customers might become price-sensitive
Competitors' copying the business & stealing away customers.
36
Kurt Lewin developed his force field analysis as a way of identifying...
various restraining forces on change
various driving forces for change
both restraining & driving forces for change
neither driving or restraining forces for change
37
The external environment of a business include the following stakeholders...
management, competitors, interest groups,customers,
competitors, interest groups,customers, employee, management
government, competitors, interest groups,customers,
government, competitors, interest groups,customers, employee

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