Higher BM Prelim Quiz 23/24

An advantage of a decentralised storage system is:

Advantages of a product portfolio:

Which sector of the economy does the following firm operate?

Identify the extended marketing mix

Which of the following factors does not affect the corporate culture of a business

The internet can be useful for operations by:

Organisation X is about better prices, decent working conditions, fair terms for trade for

Impact of X extension strategy - changing the name of the product can create hype

Stakeholder interest: I want job security and fair pay

Lead time is the time taken form placing an order to receiving the goods.

Private sector organisation which allows a business to sell rights to use their brand and sell products

A disadvantage of JIT is:

Which UK supermarket has reportedly given suppliers until 10 July 2020 to agree price cuts.

Method where products are checked to see that they are of a high quality at each stage

Which organisation were recently fined £1.5m for paying below the National Minimum Wage?

Operations in manufacturing organisation are concerned with:

Structure that involves an organisation being arranged into temporary project teams

Which type of growth if SEAT bought Arnold Clark?

What does CSR stand for?

Changing VAT rates is which external factor?

Methods to ensure good CSR:

A decision made by middle management in the medium term

Which type of growth if Condorrat Bakers bought George Asda clothing?

How many clothing and homeware stores did M&S close in 2019?

Consequence(s) of overstocking

Which company recently scrapped their bonus system for the first time since 1953

The stage of the life cycle where the product suffers from too many competitors being in the market

The increase or decrease in the size of a market for a product or service over time

Answering customer queries and ordering stationery - is which type of decision?

Which sector of the economy does the following firm operate?

The organisation in a particular market that have the most customers

Boston matrix - products that have a high market share in a high-growth market

Method of inspecting raw materials or finished goods to check they are an acceptable standard at the end of the process

EPOS allows automatic updates of stock records and automatic reorders

Databases can be used for:

Shareholders/Board of Directors/Share issue own/control/fund which Sector of the Economy?

Government/Board of trustees/Taxpayers own/control/run which Sector of the Economy?

Expand operations into 3 new countries next year - is which type of decision?

Corporation Tax has reduced by 5% is which PESTEC factor?

The number of layers or levels within an organisation

Boston Matrix - products w/low market growth and high market share

The percentage of customers an organisation has from the whole market

Stakeholder interest: I want repeat business and the business to pay its debt(s)/invoice(s)

Identify the internal factors

Where there are few levels of management within the organisation

Which two stakeholders might have a conflict if VAT is increased?

Quality control is where quality is checked at each stage in the production process

Which online retailer agreed to buy the online businesses of Oasis and Warehouse for £5.25m in June 2020.

A cost of adopting a quality system/method

Identify the method of desk research

Which company recently introduced 200 more click and collect shops?

Advantage or Disadvantage of JIT: Less chance of obsolescence/changes in taste or fashion

This type of structure is used to group departments

A cost of holding too much stock may be:

Aiming for a satisfactory or adequate result

Massive supermarkets which sells many goods and services under one roof

Which company recently extending their product portfolio by diversifying into retail/fashion

The price is set very low for a period of time to force out competitors

Which type of integration if Starbucks bought a coffee farm:

CAM is used to:

Individual customer requirements cannot be met so may lose customers.

Staff are highly skilled staff so produce a high-quality product.

This QA process makes use of the best performers in the industry to set the standard

A centralised storage system is where stock is stored in many difference locations.

The stage of the product life cycle when customer awareness and sales are increasing

CAD stands for:

Which company introduced the scan and go app to all UK stores in November 2020?

Production involves producing products that use machinery and equipment to produce products

Disadvantages of a product portfolio:

This consists of businesses providing information and knowledge-based services

Business deciding to grow on their own without getting involved with other organisations

The price is set high to begin with and increases over time

A salesperson sells products directly to a the customer, often by going 'door to door' or...

This consists of businesses that are involved in exploiting natural resources

Factors affecting pricing strategy

At which stage should the business replenish stock

The purpose of having a SMS is:

Consequence(s) of understocking

Operates as a business but reinvests any profit for the benefit of local community or customers

Operations in manufacturing organisation are concerned with: