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Business Studies Revision
What does deindustrialisation mean?
Who is a not stakeholder in SISB
Business Studies Revision
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1
Who is a not stakeholder in SISB
Regent's School
Teachers
Taxi drivers
Parents
2
What does deindustrialisation mean?
Secondary sector is the now the most important sector
All sectors of the economy are equally important
Primary sector is now the most important economic sector
Tertiary sector is now the most important sector
3
Franchising is when
one business allows another to use its model for royalties
two businesses merge or integrate in some way
a business copies another businesses ideas
burger bars open new stores
4
How do we measure the size of a business
By the emissions it produces
By its profits
By the number of employees
By the taxes it pays
5
Taylor's theory of motivation is about
linking work to pay through piece rate
providing recognition for work well done
enabling workers to grow and fulfill their potential
providing challenging and rewarding jobs
6
Minimum wage laws mean
a max amount firms can pay for the total wage bill
pay levels are satisfactory in a business
some firms must pay a set amount, but not all
wage rates must be above a set amount
7
Effective communication means
the message has been receive
there is feedback every time
the message is received, understood and acted on
the message has been communicated face to face
8
What is a stakeholder?
anyone with an interest in a business' actions/decision
anyone living in an economy
anyone with an interest in the economy
anyone with an interest in business
9
Which is not a fringe benefit for a teacher?
School tee-shirts for house events
School vans to take them to the MRT
School lunches in the canteen
School residentials with students
10
Maslow's theory is called
Hierarchy of Needs
Scientific Management
Theory X, Theory Y
Two Factory
11
Which is an advantage of division of labour?
boredom
increased efficiency
absence interrupts production
lack of pride in work
12
Workers join unions because
there is strength in numbers
unions help workers get promotions
unions help workers not get fired for stealing
unions tell businesses what to do
13
Team working is basically the same as
Working in factory office
Cell production in lean production
Working in a department
Maslow's social needs
14
Which business have limited liabilitiy?
partnership
public enterprise
sole trader
public limited company
15
What does an organisational chart show?
levels of management and division of responsibilities
how instructions are passed up and down between levels
the official communication routes within the company
how many workers report to each manager
16
Job enlargement is
extra tasks of higher skill added to the job description
extra tasks of a similar kind added to the job description
swapping round different tasks for a change
the enjoyment gained from a job well done
17
Which business can raise large amounts of finance the easiest?
Partnership
Public Limited Company
Private Limited Company
Franchise
18
Formal warnings should be in writing because
the manager doesn't have time to talk to the worker
the worker may not understand the specialised language used
you may need legal evidence if a law case happens later
it gives the worker time to change what they are doing wrong
19
Democratic leaders
are always the best kind of leader
allow employees to make their own decisions
consult employees in decision making
instruct employees in what to do
20
An objective is
a goal or target the business is trying to achieve
when people disagree with what the business is doing
is when a business disagrees with something
when the owners of the business want profits most of all
21
In a mixed economy
All the economic decisions were made long, long ago
The government makes all the economic decisions
Private sector firms make all the economic decisions
Economic decisions are made by the government and firms
22
Which group are skills of successful entrepreneurs?
self reliant, confident, cautious, hardworking
hard working, shy, cautious, innovative
shy, poor communicator, lazy, pessimistic
risk taker, optimistic, good communicator, creative
23
Added value is
extra revenue from special orders
not real, just created by advertising to make us buy stuff
sum of gross and net profit
difference between price and cost of bought in materials
24
Why do businesses fail?
good ability to judge customer wants and adapt quickly
excellent managerial skills
poor control of liquidity and finances
failure to expand uncontrollably
25
Which group only contains secondary sector industries?
Retailing, Insurance, Banking, Entertainment
Woodcutting, Furniture Making, Furniture selling
Farming, Fishing, Forestry, Drilling
Car factory, construction site, power station, brewery
26
Which is not an advantage of vertical integration?
greater control over quality and customer interaction
less access to customers or supplies
competitors cut from customers or supplies
lower prices as a profit margin is cut
27
Which is not a factor of production?
Land
Equipment
Capital
Enterprise
28
On the job training is best used for
skilled and semi-skilled work
introducing a new worker to the team
for all of the firm's training needs
skilled or highly complex work
29
The best form of communication for a policy change about smoking at work is
an announcement in the morning meeting
a diagram showing the risks of smoking
a sign in the no-smoking areas
a letter to each workers
30
Job analysis is (a)
document outlining the qualifications and experience needed
not necessary when hiring new workers for a job
document outlining the duties and responsibilities the job
figuring out the responsibilities and tasks of the job
31
The second layer in Maslow's theory is
Esteem Needs
Physiological needs
Self actualisation Needs
Security Needs
32
Redundancy and dismissal are
both mean workers are let go but for different reasons
both mean bad quality workers are let go
both mean the same thing really
both mean the firm is changing production methods
33
Letters are a form of
electronic communication
written communciation
visual communication
verbal communication
34
What is not a reason why owners want their businesses to grow?
potential for higher profits
more status and power for firm and owners
more chance to influence the market in their favour
more complex and challenging to manage
35
An advantage of internal recruitment is
the same ideas and methods continue to be used
it creates another vacancy to be filled
internal applicants quit if not good enough for promotion
it is faster and cheaper than other routes
36
Managers
play golf a lot with customers to gain business
delegate decisions and make plans for the future
plan, organise, coordinate, control and command
are either autocratic or democratic, never both
37
Which is a form of horizontal integration?
A car manufacturer and chain of showrooms merging
A farmer buying out a flour mill
A hotel chain taking over coffee chain
Two airlines merging
38
Which shareholder wants job security?
suppliers
government
workers
customers
