What are the four P's of marketing?

Product, Price, Place, Promotion

What is an example of external growth?

Buying another business in a different industry

What does the "O" in SWOT management stand for?

Opportunities externally for the firm

What is Strategic management?

Setting long-term goals and ensuring these can be met

What is global localisation in marketing terms?

Adapting the marketing mix to meet regional tastes and norms

Political, Economic, Social, Technological (factors)

What is a typical disadvantage of a firm using 'just-in-time production'?

Won't work If suppliers of raw materials are unreliable

What are qualitative research factors?

Subjective-data that gives direct insights into products

What does it mean if a business becomes 'liquidated'? (in business terms)

The selling off of all of the remaining assets in a business

What is privatization?

When a public business is sold to non-government owners

How do you calculate dividends per share? (%)

Total Annual Dividends/Total number of issued shares

What is NOT an advantage of appeasing a pressure group to a business?

Other pressure groups may want the firm to make more changes

What are the key components of a marketing plan? (in the correct order?)

mission, situational analysis, strategy+budget, timescale

What is investment appraisal?

Evaluating the profitability of an investment project

What is Hard Human Resource management?

When HRM focuses on having more flexible, lower paid workers

What are the characteristics of a 'cash cow' product?

High market share and low potential for market growth

What is capacity utilization?

The proportion of maximum output capacity being achieved

What is a common disadvantage of delayering an organisation's structure to a firm?

May lead to a decrease in motivation for remaining managers

Using external organisations to carry out business functions

What is contribution costing?

When only direct costs are allocated to profit centers

Which of the following factors will make trade unions more powerful than opposing employers?

When industrial action would cost the employer much revenue

What is a contingency plan?

Preparing an organisations resources for unforeseen events

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A2 Business Studies SUPER-MEGA-EXTRA-GARGANTUAN-MEGA-AMAZING quiz

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Questions 30

Answers

1
What are the four P's of marketing?
Product, Price, Place, Promotion
Poland, Portugal, Philippines, Pakistan
Product, Promotion, Polly, Place
Product, Price, Play, Promotion
2
What is an example of external growth?
Releasing a new product in a foreign country
Buying another business in a different industry
Buying new machinery for production of a new product
Buying a van from a competitors firm for use in the business
3
What does the "O" in SWOT management stand for?
Opportunities for internal expansion within the firm
Omissions from the finances of the firm by the Shareholders
Operations appraisal and long-run management
Opportunities externally for the firm
4
What is Strategic management?
Setting long-term goals and ensuring these can be met
The implementation of tactics for the business to use only
Analyzing a firms current opportunities and threats only
The managing of the firm's strategic assets only
5
What is the dividend per share if AT&T pays 2m$ in dividends per year, and issued 1m shares?
150$ per share
2$ per share
2 euros per share
20$ per share
6
What is global localisation in marketing terms?
Using the same advert in every international market for MNCs
Adopting several different products in one market
Adopting one product worldwide as if the world was 1 market
Adapting the marketing mix to meet regional tastes and norms
7
Which type of budgeting uses previous budgets as a basis for adjustments for new budgets?
Incremental Budgeting
Delegated Budgeting
Zero-Budgeting
Flexible Budgeting
8
What does PEST mean?
Politics, Energy, Science, Technology
Political, Economic, Social, Technological (factors)
Direct-cmpetitor firms to the business
Employees in the firm that must be removed
9
What is a typical disadvantage of a firm using 'just-in-time production'?
Allows the firm to store less raw materials and WIP-products
Won't work If suppliers of raw materials are unreliable
Allows the firm to utilize specialization for line-staff
It is unlikely to reduce its long-run average costs
10
What are qualitative research factors?
Factors relating to the quality-management of a firm's goods
Factors relating to numerical data about a firm's products
Subjective-data that gives direct insights into products
Data that is unnecessary to market research for a business
11
What does it mean if a business becomes 'liquidated'? (in business terms)
The elimination of a competitor by buying out the competitor
The installment of a water fountain in offices of a business
The selling off of all of the remaining assets in a business
The elimination of all redundant/liable staff in a business
12
What is privatization?
When all the shares of a firm are bought by one shareholder
When a business is declared as private property
When a public business is sold to non-government owners
When a business is taken off the stock market
13
How do you calculate dividends per share? (%)
Total Annual Dividends x Total number of issued shares
Shares owned by NYSE x Shares owned by TATA PLC
Total daily dividends/Shares issued at the FTSE100 only
Total Annual Dividends/Total number of issued shares
14
What is NOT an advantage of appeasing a pressure group to a business?
Pressure group may show support and buy products from firm
Pressure group will not boycott the firm's products
Other pressure groups may want the firm to make more changes
No legal action will be taken against the firm
15
What IS NOT a disadvantage of using straight-line depreciation to calculate asset depreciation?
It's easy to calculate
It is based on estimate values
It inaccurately shows early-depreciation for common assets
Doesn't consider higher maintenance costs in future
16
What are the key components of a marketing plan? (in the correct order?)
mission, timescale, budget+strategy, situational analysis
situational analysis, timescale, strategy+budget, mission
timescale, strategy+budget, situational analysis, mission
mission, situational analysis, strategy+budget, timescale
17
What is investment appraisal?
Comparing staff's/capital's performance to pre-set targets
Reviewing the success of previously made investments
Analyzing the benefits of investment opportunities for firms
Evaluating the profitability of an investment project
18
What is Hard Human Resource management?
When the focus of the firm's HRM is high employee motivation
When HRM have to employ blue-collar workers such as builders
When workers have high job security but have high skill/pay
When HRM focuses on having more flexible, lower paid workers
19
What are the characteristics of a 'cash cow' product?
High market share, High potential for market growth
High potential for market growth, low market share
High market share and low potential for market growth
Low potential for market growth and low market share
20
What's a possible advantage of not training staff in a business?
Higher amounts of waste products (damaged by staff)
Lower staff motivation
Lower quality service
Lower cost of training staff
21
Which type of formal communication is direct and can be questioned quickly, but is not recorded
Visual
IT-based
Written
Oral
22
What is capacity utilization?
The proportion of maximum output capacity being achieved
The amount of land a business owns divided by labor size
The amount of office space owned by a firm that is idle
How much of one product a business has in storage
23
According to Ansoff's matrix, which type of business expansion is most risky?
Product Development
Market penetration
Product Diversification
Market development
24
What is a common disadvantage of delayering an organisation's structure to a firm?
Increases workload to remaining managers for no extra pay
Could reduce business costs
May lead to a decrease in motivation for remaining managers
Shortens the chain of command in a firm
25
What is outsourcing?
Using raw materials from locations not owned by the firm
The purchase of non-current assets from non-domestic firms
Using external organisations to carry out business functions
Finding foreign workers to complete work for the business
26
What is contribution costing?
When the value of sales is based off revenue per sale alone
When only direct costs are allocated to profit centers
When only fixed costs are allocated to profit centers
When all costs are allocated to profit centres
27
What's a common drawback to a company being ethical?
Only hire poor-quality staff
Higher long-term costs
Suffering from lawsuits filed by pressure groups
Higher short-term costs
28
Which of the following factors will make trade unions more powerful than opposing employers?
When unemployment is high
When worker's wages are quickly impacted by any action
When there is public support for the employer
When industrial action would cost the employer much revenue
29
What is a contingency plan?
Creating the tactics for the firm in the coming year
Preparing an organisations resources for unforeseen events
Planning the businesses short-term finances for 1 year.
Predicting the costs to the business for the upcoming year
30
What is a facilitating payment?
A payment for the operation of production facilities
A payment that needs to be made annually to all governments
A form of rent for production facilities in certain areas
A bribe

A2 Business Studies SUPER-MEGA-EXTRA-GARGANTUAN-MEGA-AMAZING quiz Flashcards | StudBud