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MOCK EXAM SIX - PAPER 3 - QUIZ KNOWLEDGE RECAP Flashcards | StudBud
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MOCK EXAM SIX - PAPER 3 - QUIZ KNOWLEDGE RECAP
MOCK EXAM SIX - PAPER 3 - QUIZ KNOWLEDGE RECAP
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Answers
1
Which of these is not an influence on business decision making
The external environment
Attitude to risk
What you had for breakfast
Business objectives
2
Tannenbaum and Schmidt Continuum of Leadership- When a manager presents ideas & invites questions from staff they are..
Telling
Selling
Joining
Consulting
3
Tannenbaum and Schmidt Continuum of Leadership- A completely manager orientated leadership is
Consulting
Selling
Telling
Joining
4
As a stakeholder, the community would mostly be interested in..
Return on investment + profits and dividends
Success of the business – particularly creating and retaining jobs
Financial stability – can the business pay its bills
The payment of taxes
5
A debenture is a type of loan from a bank
False
True
6
A Stakeholder with a High Level of Stakeholder Power and Low Level of Stakeholder Interest should be...
Communicated with only when necessary
Kept satisfied
Ignored
Engaged with directly and regularly
7
The position in the life cycle of a product will require different promotional methods.
True
False
8
Which type of industry would have a marketing mix with an emphasis on price
Soaps
Low Cost Airlines
Cars
Coffee Shops
9
Changing the organisational structure, both in terms of the type of structure and layers. This is
Rewiring
Restructuring
Redundancies
Layering
10
A mass marketing campaign can often be undifferentiated
False
True
11
For PESTLE, the P stands for...
Political
Poetry
Poignant
Penzance
12
Stakeholders needs should be considered to help
Reduce resistance to change
England win the World Cup
Reduce uncertainty
Add more friends on Facebook
13
As a stakeholder a Shareholder would mostly be interested in
Job security & working conditions
Compliance with local laws and regulations
Success and growth of the business
Product quality & customer service
14
Decision made by just a few individuals whose influence spreads throughout the organisation. What culture is this?
Power
Task
Role
Person
15
Marketing Objectives need to be consistent with & support Corporate Objectives
True
False
16
Authoritarian leadership will....
Address employee needs
Focus on motivation and morale
Take decisions with little involvement of employees
Have little input in the day-to-day decision making
17
Which of these is a factor that influences organisational structure?
The competitive environment
Share price
Magnetic forces
The weather
18
As a stakeholder a customer would mainly be interested in financial stability – can the business pay its bills
True
False
19
Gross profit margin = gross profit / ...........
cost of sales x 100
revenue
cost of sales
revenue x 100
20
Which of these sources of finance is internal?
Trade Credit
Venture Capitalists
Debentures
Retained profits
21
Handy's Cultural Model has four classes of culture. Which of these is not one of the classes of culture?
Process
Person
Power
Role
22
Measures the proportion of a business’ capital (finance) provided by debt. This is an example of...
ROCE
Acid Test Ratio
Gearing
Inventory Turnover
23
An advantage of a bank loan is?
Relatively easy to arrange in comparison to an overdraft
Appropriate method of financing fixed assets - such as a new building
Not secured on assets of business
Flexible – use as cash flow requires
24
A consultative style of leadership is always the most effective style
It depends on factors such as, form of business or staff experience
No, never
Yes, always
Autocratic leader is always the best style
25
Types of promotion: Which is the odd one out?
PR
Promotion Skimming
Direct Marketing
Sales Promotion
26
To work out Acid Test Ratio you must consider Inventory in your calculation
True
False
27
What is phase 3 of the strategic drift model
Incremental change
Strategic drift
Transformational Change or Death
Flux
28
A disadvantage of debt factoring is?
Debt takes a long time to be paid off
Increases the risk of bad debts
Reduces profitability of the firm as a result of the fee paid
People get their knees broken if debts are not paid
29
An advantage of debt factoring is
It will reverse the process of expanding brackets
It can clear all the business debts
It can help improve cash flow
It will encourage external investment
30
A stakeholder with a low level of interest and high level of power should be...
Kept informed
Managed closely
Kept satisfied
Monitored
31
Which of these is not a classification of leadership style?
Laissez-faire
Paternalistic
Cool, calm and collected
Democratic
32
What is the formula for market capitalisation?
Share price x number of shares issued
Share price / number of shares issued
Share price + number of shares issued
Share price - number of shares issued
33
Evaluating strategic performance can involve what process?
Budgeting & Variance Analysis
Financial Ratio Analysis
Decision Trees
Network Analysis
34
Gross Profit calculation
Fixed costs + Variable Costs
Sales x Quantity
Total revenue – cost of goods sold
Total revenue – other expenses
35
A stakeholder is an individual/organisation who has a interest in the activities and decision making of a business
False
True
36
As a Stakeholder the Government would NOT be interested in?
Compliance with business legislation
Dividends
Helping the business to grow – creating jobs
The correct collection and payment of taxes
37
Tannenbaum and Schmidt Continuum of Leadership- When a manager justifies their decision they are
Selling
Consulting
Telling
Joining
38
An example of a disadvantage of organic growth is?
Growth achieved may be dependent on the growth of the overall market
More risk than a takeover
Rate of growth will often be too fast
Staff morale will inevitably decrease
39
Ratio Analysis. Which of these are an example of financial efficiency analysis?
Payables Days
Current Ratio
Gross Profit Margin
Return on Capital Employed
40
What is NOT a benefit of a flexible organisation?
The organisation can concentrate on its core competencies
More likely to identify, respond and embrace the need for change
More likely to respond to and meet changing customer needs and wants
More likely to reduce retention levels
41
A forward vertical direction of takeover is..
Acquiring a business further up in the supply chain
Acquiring a business at the same stage of the supply chain
When the business acquired is based north of your own business
Acquiring a business operating earlier in the supply chain
42
Removing layers of management from the hierarchy of the organisation. This is..
Destabilising
Hierarchical removal
Delayering
Disenfranchisement
43
What is not a sign that organisational culture may need changing?
Evidence of declining customer service
Processes become more bureaucratic
Low levels of staff turnover
Greater absenteeism
44
Which of these is NOT an example of organic growth
Expanding the number of workforce
Expanding number of locations
Expanding product range
Expanding the cafeteria
45
This is a tall hierarchy structure. Complete the sentence. It......
Encourages delegation
Is sometimes called “organistic”
is also known as a matrix structure
Is sometimes called a "mechanistic" structure
46
A main source of finance for a new (Start-up) business would be?
Founder finance
Working Capital
Debentures
Asset disposals
47
Which motivational theory is this?
Count Binhead
Taylor
Herzberg
Maslow
48
What is not a main model/theory for leadership
Tannenbaum Schmidt
Pestle Analysis
Bagging's X/Y Theory
Boston Matrix
49
Taylors Scientific Theory of Motivation is based around business efficiency
True
False
50
Which of these is a financial motivation to work?
Working environment
Job enrichment
Commission
Job enlargement
51
What are Dividends?
Profits paid to the CEO
Profits paid the workers only
Negative earnings paid to the CEO
Profits paid to Shareholders
52
An income statement is
a statement that highlights the businesses assets, payables and liabilities
Same as the Cash Flow Statement
A formal way of listing sales and costs to be used for profit margins
Another word for 'Gross Profit'
53
A balance sheet
outlines...
All cash transactions including receipts and payments
assets, liabilities and owners’ equity in the business
Revenue, expenses and profit (or loss)
All incoming and outgoing payments (cash and credit)
54
Dividing a market into segments based on the different ways customers respond to a product and the benefits they seek
This is geographical
This is behavioural
This is Geopolitical
This is demographic
55
The operating profit margin is calculated as
Operating Profit/ Number of staff x 100
Operating profit x Revenues x 100
Operating Profit / Revenues
Operating Profit / Revenues x 100
56
What typically happens with mergers?
At least 3 businesses are needed for it to suceed
A new firm is created
One business absorbs the other
One business is allowed to borrow the photocopier from the other
57
What is a Key Consideration in Choosing the Right Sources of Finance
How friendly the creditor is?
If you can be given the money in one pound coins
Keeping control of finances
Enough vs too much
58
An advantage of scientific decision making is
It increases your memory retention
It is supported by quantifiable evidence
It is a quick process
It guarantees success
59
Where a business targets a smaller segment of a larger market. This is..
Mass Marketing
This is Trident Marketing
This is Price Marketing
Niche Marketing
60
The market share formula is: Total business sales divided by total market sales x100
True
False
61
Which of these is a KEY influence on the marketing mix
The colour of the company logo
Customer relationships
Political change
The salary of the Marketing Manager
62
Raising finance from a large number of people each investing different, often small, amounts of money. This is?
Lottery funding
Crowdfunding
Venture Capitalists
Raising loan capital
63
What is a drawback of takeovers?
Spreads the risk by diversifying
Negative economies of scale
High failure rate
Bigger venue needed for staff end of financial year party
64
What is a trademark?
Protection of a logo or artwork
Protection of an innovation
Protection of an original work
Protection of ideas
65
Which of these is an influence on the relationship with stakeholders?
Rice Pudding
Mission and objectives
Ansoffs Matrix
Leadership style
66
A copyright would protect what?
Astronauts in space
Computer hardware
Lyrics for a song
A new invention
67
Marriott hotels agrees a $12bn merger with Sheraton hotels. What type of integration is this?
Conglomerate
Backward Vertical
Forward Vertical
Horizontal
68
For PESTLE, the E stands for...
Ecological
Europe
Ethical
Economic
69
What does not contribute to cash flow problems?
Using credit control checks
Too Much Spending on Capacity
Selling off depts to dept factoring
Allowing Customers Too Much Credit
70
Which of these does not have much influence on the effectiveness of a leadership style?
How well the employees are trained
The weather
Established procedures
Stress levels
71
Which of these is not one of the seven P's of Marketing
Profit
Place
Process
Physical
72
A reason why a takeover may fail is because of poor communication with the stakeholders of the acquired business
True
False
73
Which of these is NOT a use of promotion
Create awareness
Decide on pricing strategy
Reassure customers
Positioning a product
74
What is NOT a reason why strategic drift may take place?
Business embraces change
Business fails to adapt to a changing external environment
Senior management deny there is a problem
Complacency has set in – often built on previous success
