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

issues related to OHS,working conditions and pay.

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

making the highest margin for the product.

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

The Generic Strategy of Lower Cost & Differentiation

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

both restraining & driving forces for change

Differentiation can be based on the following features:

product image, durability, after-sales service, quality

Businesses exist in two environments - identify both...

External Environment, Internal Environment

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.

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

The amount of people injured or nearly injured at work.

Effectiveness in business is...

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

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.

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

Increased profit margin, Loyal customer following

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

sickness, job dissatisfaction, OHS issues

Internal stakeholders include...

owners, shareholders, management, , employees, directors

Organisational Inertia relates to...

An unenthusiastic response from management to change.

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

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

variation of an existing business concept or process.

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

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

Threat of Substitution, Threat of New Entry

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

government, competitors, interest groups,customers,

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

finished goods discarded during the production process.

Which of the following are driving forces

employees, competitors, legislation

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.

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

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