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2.1 Business Studies - Revision Flashcards | StudBud
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2.1 Business Studies - Revision
2.1 Business Studies - Revision
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1
Formal leadership
Earned through your ability to evoke respect
Granted due to your position in the business
2
Which of these is NOT a benefit of functional organisational structure?
Managers can communicate quickly and efficiently with staff
Employees know how they fit into the business
People know who's in charge and who their responsible for
People can work in their specialized area
3
What is Kaitiakitanga?
To protect and preserve natural resources
Guardianship of cultural beliefs
Hospitality, generosity, care and giving
Maori beliefs and functions
4
Which of these describe efficiency?
Producing output at the highest ratio - Output/ Input
Producing lots of goods
Input x Output
Meeting the objects of the enterprise
5
Which of these describe the matrix business structure
Each department carries out a particular project
Brings experts across departments together to complete a project
Different sections within a business to manage across locations
Outsourcing for particular jobs to minimise on staff wages
6
Which of these can be described as Job production
Coca-cola production process
Producing a batch of single coloured pens
Building a custom boat
Producing a dozen cookies
7
Shamrock is when a business focuses on core operations and employees?
True
False
8
Beyond a certain point of capacity it becomes less likely to further reduce costs
Diseconomies of scale
Economies of scale
9
What is lean production?
Trimming down on capital equipment to reduce expenses
Keeping stock in storage just in case you need it
Cutting down on employees due to un-profitability.
A method of production which produces minimum wastage of resources
10
What is NOT a benefit of economies of scale?
Lower average costs with bulk purchased products
You can employ specialist managers
Increase in profit margins
Staff can bring forward their ideas
11
The difference between the cost of purchasing materials and the price finished goods are sold for is
Profit Margin
Added Value
12
Formal leaders are often the best leaders in the business
True
False
13
Kiazen is about the continuous improvement of the production process.
True
False
14
Which Sources of Finance is internal?
Crowd funding
Retained profits
Grants
Sales of shares
15
Laissez-faire leadership style is when
Managers do what they think is best for the workers
A leader makes all the decisions
A manager delegates nearly all decision making powers
Participation is encouraged
16
What is a benefit of Shamrock structure?
good team chemistry between every sector
Range of employees hired
good brand reputation
Save Costs - Wage decrease due to flexible staff
17
In flow production a whole group of goods are produced together?
True
False
18
What is the definition of Rangatiratanga?
To take care of the environment
To exercise leadership and authority
To have culture as a focal point of the business
To maintain a high level of control over staff
19
Instructions to follow when a fire alarm sounds is an example of?
A Policy
A Procedure
20
Capacity utilization is
when you are not utilising maximum capacity
is how close to max capacity you are operating
Is what you need to do to utilise maximum capacity
the maximum capacity available
