Leadership Styles: Which of the below best describes a 'democratic' style of leadership?

Decision making is shared with employees and manager

Business Ownerships: What is a Private Limited Company?

A limited business where shares are sold privately to few individuals

Leadership Styles: Which of the below best describes an 'autocratic' style of leadership?

Employees have little to no freedom to make decisions

Pricing Techniques: What are pricing techniques/methods?

How a business decides on the price of a product

Pricing Techniques: What is competitive pricing?

A product price is based on competitors pricing

Management Roles: What does a manager do in the 'Informational' role?

Gathers information from inside and outside the organisation

Market Concepts: What is the Product orientation?

Focus on improving the quality of a product

Market Segmentation: Define Psychographic market segmentation.

Dividing market by personality, interests and attitudes

Where two businesses combine to make another business

Management Roles: What are three key roles of managers?

Interpersonal, Informational and Decisional

Marketing Mix: What are the 4 Ps of the marketing mix?

Product, Price, Place, Promotion

Management Roles: What does a manager do in the 'Decisional' role?

Manager makes decisions to solve problems or improve the business

Recruitment and Selection: Define recruitment.

Attracting appropriate applicants for jobs in an organisation

Leadership Styles: Which of the below best describes a 'laissez faire' style of leadership?

Manager allows employees to select their own methods of completing aims

What is an 'acquisition'?

Where one business takes over another business and keeps all its assets

Market Segmentation: What is Market Segmentation?

Dividing a market into specific groups with similar traits

Organisational Structures: What is an organisational chart?

A diagram showing how employees are grouped in a business

What is a micro-external analysis?

Porter's Five Forces, Analysis of stakeholders in the business

Recruitment and Selection: Define selection.

Choosing the right person for the right job

Human Resources: What is a definition of a job description?

A statement of tasks required for a person to complete within a job

Communication: Which of the following are communication methods a business could use?

Social Media, Meetings, Telephone Calls, Written Invoice

Limited Liability: What is limited liability?

Legal protection where owner is only liable for amount invested

Management: What are the four functions of management?

Planning, Organising, Leading & Controlling

Market Share: Which of the below are benefits of having a larger market share?

Better bargaining with suppliers, More brand awareness from customers, Competitive Advantage, Less money to be spent on marketing

Communication: What are the functions of communication?

Provide knowledge, Express Feelings, Controlling, Motivating

Business Ownerships: What is a partnership?

A business owned by two or more people

Pricing Techniques: What is price skimming?

A product is set at a high price at first and then lowered

Training: What is a benefit for a business of training staff?

Better Productivity, Higher quality of work, Improved Motivation, Better employee retention

Market Concepts: What is the Marketing Concept?

Focus on the needs and wants of customers, Deliver customer satisfaction better than competitors

Leadership Styles: What is a benefit of a democratic style of leadership?

Creativity and Innovation increases due to team working

Market Segmentation: Define demographic market segmentation.

Dividing market by age, gender, income, occupation, etc.

Product Life Cycle: What are the stages of the product life cycle?

Introduction, Growth, Maturity, Decline

Market Segmentation: Define behavioural market segmentation.

Dividing market by buying processes and decisions of customers

Training: What different types of training can a business offer?

Coaching, Distance Learning, On the job and off the job, Induction

Teams: What are fours stages of Tuckman's group formation theory?

Forming, Storming, Norming, Performing

Limited Liability: Which of the following legal structures have limited liability?

Public Limited Company, Private Limited Company

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ULTIMATE F BUS QUIZ

50 termsStudBud Administration

Flashcards50 cardsFPractice quizPHost liveL

Questions 50

Answers

1
Leadership Styles: Which of the below best describes a 'democratic' style of leadership?
Manager makes all the decisions
Manager allows employees to select their own methods of completing aims
Employees have little to no freedom to make decisions
Decision making is shared with employees and manager
2
Business Ownerships: What is a Private Limited Company?
A limited business where shares are sold on the stock market publicly
A business owned by two or more people
A limited business where shares are sold privately to few individuals
A business owned by a single person who has unlimited liability
3
Motivation: How can the following stage of Maslow's Hierarchy be applied to a business: Safety and Security
Commission
Setting achievable objectives
Pensions and CCTV
Regular Breaks
4
Leadership Styles: Which of the below best describes an 'autocratic' style of leadership?
Groups can encourage change within the business
Employees have little to no freedom to make decisions
Manager allows employees to select their own methods of completing aims
Decision making is shared with employees and manager
5
Pricing Techniques: What are pricing techniques/methods?
How a business decides on the price of a product
How a business decides what kind of discounts to offer
How a business decides how many products to sell
Market research into how much people will pay for a product
6
Pricing Techniques: What is competitive pricing?
A product is set at a low price at first to get interest
A product price is based on competitors pricing
A product is set at a high price at first and then lowered
Product price is based on production costs and a margin is added
7
Management Roles: What does a manager do in the 'Informational' role?
Gathers information from inside and outside the organisation
Networks with employees to build relationships
Is a leader to employees
Manager makes decisions to solve problems or improve the business
8
Market Concepts: What is the Product orientation?
Deliver customer satisfaction better than competitors
Focus on the needs and wants of customers
Focus on improving the quality of a product
Focus on production and what the business can make well
9
Market Segmentation: Define Psychographic market segmentation.
Dividing market by age, gender, income, occupation, etc.
Dividing market by buying processes and decisions of customers
Dividing market by boundaries of where they live
Dividing market by personality, interests and attitudes
10
Limited Companies: What is a key disadvantage of a Private Limited Company?
Has unlimited liability
Ability to raise capital
Has limited liability
Possible loss of control
11
What is a 'merger'?
Where one business takes over another business and keeps all its assets
Where two businesses combine to make another business
12
Leadership Styles: What is a benefit of an autocratic style of leadership?
Creates a high degree of dependency on the manager
Quick decision making
Employees have a sense of empowerment
Can demotivate staff
13
Motivation: Which of the following is a motivational theory?
BCG Matrix
Lifecycle of a Product
Maslow's Hierarchy of Needs
Boston's Matrix
14
Human Resources: A manager should take care of ...................... when delegating activities to employees
Working times
Their Leadership Style
Employee Burnout
Decision Making
15
Employee incentives: Which of the following is an example of incentives?
Appraisals
Termination of Contract
Commission
Training
16
Management Roles: What are three key roles of managers?
Conceptual, Decisional and Technical
Interpersonal, Informational and Decisional
Planning, organising, leading and controlling
Administrative, Interpersonal, Decision Making
17
Marketing Mix: What are the 4 Ps of the marketing mix?
Product, Price, Place, Promotion
Personal, Product, Protection, Place
Price, Packaging, Promotion, Particulars
Product, Price, Placement, Particular
18
Management Roles: What does a manager do in the 'Decisional' role?
Gathers information from inside and outside the organisation
Is a leader to employees
Manager makes decisions to solve problems or improve the business
Networks with employees to build relationships
19
Business Ownership: A legal structure owned by one individual who does not have limited liability is called a......?
Public Limited Company
Sole Trader/Proprietor
Private Limited Company
Partnership
20
Recruitment and Selection: Define recruitment.
Matching a person specification with a person's CV
Finding the right person for the right job
A letter sent out to applicants to congratulate them on job offer
Attracting appropriate applicants for jobs in an organisation
21
Leadership Styles: Which of the below best describes a 'laissez faire' style of leadership?
Manager makes all the decisions
Employees have little to no freedom to make decisions
Manager allows employees to select their own methods of completing aims
Decision making is shared with employees and manager
22
What is the difference between revenue and expenses?
Expenditure
Profit
Income
Sales
23
What is an 'acquisition'?
Where two businesses combine to make another business
Where one business takes over another business and keeps all its assets
24
Market Segmentation: What is Market Segmentation?
Dividing a market into specific groups with similar traits
Marketing that provide the basic motivation to make a purchase
Focuses on needs and wants of competitors
Marketing approach which focus on making quality products
25
Organisational Structures: What is an organisational chart?
A diagram highlighting the management roles within a business
A diagram which shows the job description of employees
A diagram showing the leadership style used within a business
A diagram showing how employees are grouped in a business
26
What is a micro-external analysis?
Porter's Five Forces
SWOT
PEST
Analysis of stakeholders in the business
27
Recruitment and Selection: Define selection.
Holding a job interview
Choosing the right person for the right job
Attracting appropriate applicants for jobs in an organisation.
Creating a person specification and a job description
28
Human Resources: What is a definition of a job description?
A statement of tasks required for a person to complete within a job
Choosing the right person for the right job
A description of skills and experience you want from an applicant
Advertising a job role for people to apply for
29
Communication: Which of the following are communication methods a business could use?
Social Media
Meetings
Telephone Calls
Written Invoice
30
Organisational Structures: Lines of authority where instructions are passed down/delegated down the hierarchy
Project Teams
Lines of Communication
Chain of Command
Matrix Organisational Structure
31
Limited Liability: What is limited liability?
A business that is set up and run by two people or more
The owner is liable for all debts/losses of the business
Legal protection where owner is only liable for amount invested
Employees own a share of the business and vote on decisions
32
Management: What are the four functions of management?
Structure, Planning, Objective Setting & Charting
Planning, Organising, Leading & Controlling
Product, Price, Place, Promotion
Informational, Interpersonal, Decisional, Leading
33
Market Share: Which of the below are benefits of having a larger market share?
Better bargaining with suppliers
More brand awareness from customers
Competitive Advantage
Less money to be spent on marketing
34
Communication: What are the functions of communication?
Interpersonal, Informational and Decisional
Product, Price, Place and Promotion
Provide knowledge, Express Feelings, Controlling, Motivating
Communicate, public speaking, informative
35
Entrepreneurs: Which is a key quality of an entrepreneur?
Have very few skills
Risk taking
Do not deal with failure well
Poor leadership
36
Limited Companies: What is a key benefit of a Public Limited Company?
You choose who can buy shares within the business
Unlimited Liability
Harder to raise capital
Limited Liability
37
Management Roles: What does a manager do in the 'Interpersonal' role?
Is a leader to employees
Gathers information from inside and outside the organisation
Manager makes decisions to solve problems or improve the business
Conducts a PEST and a SWOT analysis
38
Motivation: How can the following stage of Maslow's Hierarchy be applied to a business: Physical Needs
Setting achievable objectives
Regular Breaks
Commission
Pensions and CCTV
39
Business Ownerships: What is a partnership?
A limited business where shares are sold on the stock market publicly
A business owned by a single person who has unlimited liability
A limited business where shares are sold privately to few individuals
A business owned by two or more people
40
Pricing Techniques: What is price skimming?
A product is set at a low price at first to get interest
A product is set at a high price at first and then lowered
Product price is based on production costs and a margin is added
A product price is based on competitors pricing
41
Training: What is a benefit for a business of training staff?
Better Productivity
Higher quality of work
Improved Motivation
Better employee retention
42
Promotion: How can a business promote a product/service?
Direct Marketing
Advertising
By doing nothing
Price Skimming
43
Market Concepts: What is the Marketing Concept?
Focus on improving the quality of a product
Focus on the needs and wants of customers
Focus on production and what the business can make well
Deliver customer satisfaction better than competitors
44
Leadership Styles: What is a benefit of a democratic style of leadership?
Useful with a workforce who has little experience
Can create demotivated employees
Decisions are made quicker
Creativity and Innovation increases due to team working
45
Market Segmentation: Define demographic market segmentation.
Dividing market by personality, interests and attitudes
Dividing market by age, gender, income, occupation, etc.
Dividing market by boundaries of where they live
Dividing market by buying processes and decisions of customers
46
Product Life Cycle: What are the stages of the product life cycle?
Interpersonal, Informational, Decisional
Product, Price, Place, Promotion
Introduction, Growth, Maturity, Decline
New Product, Fast Sales, Peak, Descent
47
Market Segmentation: Define behavioural market segmentation.
Dividing market by age, gender, income, occupation, etc.
Dividing market by buying processes and decisions of customers
Dividing market by personality, interests and attitudes
Dividing market by boundaries of where they live
48
Training: What different types of training can a business offer?
Coaching
Distance Learning
On the job and off the job
Induction
49
Teams: What are fours stages of Tuckman's group formation theory?
Forming, Storming, Norming, Performing
Interpersonal, Information, Decisional
Creating, Raging, Agreeing, Completion
Decision making, Process, Continuation, Performing
50
Limited Liability: Which of the following legal structures have limited liability?
Public Limited Company
General Partnerships
Private Limited Company
Sole Trader

ULTIMATE F BUS QUIZ Flashcards | StudBud

ULTIMATE F BUS QUIZ

50 termsStudBud Administration

Flashcards50 cardsFPractice quizPHost liveL

Questions 50

Answers

1
Leadership Styles: Which of the below best describes a 'democratic' style of leadership?
Manager makes all the decisions
Manager allows employees to select their own methods of completing aims
Employees have little to no freedom to make decisions
Decision making is shared with employees and manager
2
Business Ownerships: What is a Private Limited Company?
A limited business where shares are sold on the stock market publicly
A business owned by two or more people
A limited business where shares are sold privately to few individuals
A business owned by a single person who has unlimited liability
3
Motivation: How can the following stage of Maslow's Hierarchy be applied to a business: Safety and Security
Commission
Setting achievable objectives
Pensions and CCTV
Regular Breaks
4
Leadership Styles: Which of the below best describes an 'autocratic' style of leadership?
Groups can encourage change within the business
Employees have little to no freedom to make decisions
Manager allows employees to select their own methods of completing aims
Decision making is shared with employees and manager
5
Pricing Techniques: What are pricing techniques/methods?
How a business decides on the price of a product
How a business decides what kind of discounts to offer
How a business decides how many products to sell
Market research into how much people will pay for a product
6
Pricing Techniques: What is competitive pricing?
A product is set at a low price at first to get interest
A product price is based on competitors pricing
A product is set at a high price at first and then lowered
Product price is based on production costs and a margin is added
7
Management Roles: What does a manager do in the 'Informational' role?
Gathers information from inside and outside the organisation
Networks with employees to build relationships
Is a leader to employees
Manager makes decisions to solve problems or improve the business
8
Market Concepts: What is the Product orientation?
Deliver customer satisfaction better than competitors
Focus on the needs and wants of customers
Focus on improving the quality of a product
Focus on production and what the business can make well
9
Market Segmentation: Define Psychographic market segmentation.
Dividing market by age, gender, income, occupation, etc.
Dividing market by buying processes and decisions of customers
Dividing market by boundaries of where they live
Dividing market by personality, interests and attitudes
10
Limited Companies: What is a key disadvantage of a Private Limited Company?
Has unlimited liability
Ability to raise capital
Has limited liability
Possible loss of control
11
What is a 'merger'?
Where one business takes over another business and keeps all its assets
Where two businesses combine to make another business
12
Leadership Styles: What is a benefit of an autocratic style of leadership?
Creates a high degree of dependency on the manager
Quick decision making
Employees have a sense of empowerment
Can demotivate staff
13
Motivation: Which of the following is a motivational theory?
BCG Matrix
Lifecycle of a Product
Maslow's Hierarchy of Needs
Boston's Matrix
14
Human Resources: A manager should take care of ...................... when delegating activities to employees
Working times
Their Leadership Style
Employee Burnout
Decision Making
15
Employee incentives: Which of the following is an example of incentives?
Appraisals
Termination of Contract
Commission
Training
16
Management Roles: What are three key roles of managers?
Conceptual, Decisional and Technical
Interpersonal, Informational and Decisional
Planning, organising, leading and controlling
Administrative, Interpersonal, Decision Making
17
Marketing Mix: What are the 4 Ps of the marketing mix?
Product, Price, Place, Promotion
Personal, Product, Protection, Place
Price, Packaging, Promotion, Particulars
Product, Price, Placement, Particular
18
Management Roles: What does a manager do in the 'Decisional' role?
Gathers information from inside and outside the organisation
Is a leader to employees
Manager makes decisions to solve problems or improve the business
Networks with employees to build relationships
19
Business Ownership: A legal structure owned by one individual who does not have limited liability is called a......?
Public Limited Company
Sole Trader/Proprietor
Private Limited Company
Partnership
20
Recruitment and Selection: Define recruitment.
Matching a person specification with a person's CV
Finding the right person for the right job
A letter sent out to applicants to congratulate them on job offer
Attracting appropriate applicants for jobs in an organisation
21
Leadership Styles: Which of the below best describes a 'laissez faire' style of leadership?
Manager makes all the decisions
Employees have little to no freedom to make decisions
Manager allows employees to select their own methods of completing aims
Decision making is shared with employees and manager
22
What is the difference between revenue and expenses?
Expenditure
Profit
Income
Sales
23
What is an 'acquisition'?
Where two businesses combine to make another business
Where one business takes over another business and keeps all its assets
24
Market Segmentation: What is Market Segmentation?
Dividing a market into specific groups with similar traits
Marketing that provide the basic motivation to make a purchase
Focuses on needs and wants of competitors
Marketing approach which focus on making quality products
25
Organisational Structures: What is an organisational chart?
A diagram highlighting the management roles within a business
A diagram which shows the job description of employees
A diagram showing the leadership style used within a business
A diagram showing how employees are grouped in a business
26
What is a micro-external analysis?
Porter's Five Forces
SWOT
PEST
Analysis of stakeholders in the business
27
Recruitment and Selection: Define selection.
Holding a job interview
Choosing the right person for the right job
Attracting appropriate applicants for jobs in an organisation.
Creating a person specification and a job description
28
Human Resources: What is a definition of a job description?
A statement of tasks required for a person to complete within a job
Choosing the right person for the right job
A description of skills and experience you want from an applicant
Advertising a job role for people to apply for
29
Communication: Which of the following are communication methods a business could use?
Social Media
Meetings
Telephone Calls
Written Invoice
30
Organisational Structures: Lines of authority where instructions are passed down/delegated down the hierarchy
Project Teams
Lines of Communication
Chain of Command
Matrix Organisational Structure
31
Limited Liability: What is limited liability?
A business that is set up and run by two people or more
The owner is liable for all debts/losses of the business
Legal protection where owner is only liable for amount invested
Employees own a share of the business and vote on decisions
32
Management: What are the four functions of management?
Structure, Planning, Objective Setting & Charting
Planning, Organising, Leading & Controlling
Product, Price, Place, Promotion
Informational, Interpersonal, Decisional, Leading
33
Market Share: Which of the below are benefits of having a larger market share?
Better bargaining with suppliers
More brand awareness from customers
Competitive Advantage
Less money to be spent on marketing
34
Communication: What are the functions of communication?
Interpersonal, Informational and Decisional
Product, Price, Place and Promotion
Provide knowledge, Express Feelings, Controlling, Motivating
Communicate, public speaking, informative
35
Entrepreneurs: Which is a key quality of an entrepreneur?
Have very few skills
Risk taking
Do not deal with failure well
Poor leadership
36
Limited Companies: What is a key benefit of a Public Limited Company?
You choose who can buy shares within the business
Unlimited Liability
Harder to raise capital
Limited Liability
37
Management Roles: What does a manager do in the 'Interpersonal' role?
Is a leader to employees
Gathers information from inside and outside the organisation
Manager makes decisions to solve problems or improve the business
Conducts a PEST and a SWOT analysis
38
Motivation: How can the following stage of Maslow's Hierarchy be applied to a business: Physical Needs
Setting achievable objectives
Regular Breaks
Commission
Pensions and CCTV
39
Business Ownerships: What is a partnership?
A limited business where shares are sold on the stock market publicly
A business owned by a single person who has unlimited liability
A limited business where shares are sold privately to few individuals
A business owned by two or more people
40
Pricing Techniques: What is price skimming?
A product is set at a low price at first to get interest
A product is set at a high price at first and then lowered
Product price is based on production costs and a margin is added
A product price is based on competitors pricing
41
Training: What is a benefit for a business of training staff?
Better Productivity
Higher quality of work
Improved Motivation
Better employee retention
42
Promotion: How can a business promote a product/service?
Direct Marketing
Advertising
By doing nothing
Price Skimming
43
Market Concepts: What is the Marketing Concept?
Focus on improving the quality of a product
Focus on the needs and wants of customers
Focus on production and what the business can make well
Deliver customer satisfaction better than competitors
44
Leadership Styles: What is a benefit of a democratic style of leadership?
Useful with a workforce who has little experience
Can create demotivated employees
Decisions are made quicker
Creativity and Innovation increases due to team working
45
Market Segmentation: Define demographic market segmentation.
Dividing market by personality, interests and attitudes
Dividing market by age, gender, income, occupation, etc.
Dividing market by boundaries of where they live
Dividing market by buying processes and decisions of customers
46
Product Life Cycle: What are the stages of the product life cycle?
Interpersonal, Informational, Decisional
Product, Price, Place, Promotion
Introduction, Growth, Maturity, Decline
New Product, Fast Sales, Peak, Descent
47
Market Segmentation: Define behavioural market segmentation.
Dividing market by age, gender, income, occupation, etc.
Dividing market by buying processes and decisions of customers
Dividing market by personality, interests and attitudes
Dividing market by boundaries of where they live
48
Training: What different types of training can a business offer?
Coaching
Distance Learning
On the job and off the job
Induction
49
Teams: What are fours stages of Tuckman's group formation theory?
Forming, Storming, Norming, Performing
Interpersonal, Information, Decisional
Creating, Raging, Agreeing, Completion
Decision making, Process, Continuation, Performing
50
Limited Liability: Which of the following legal structures have limited liability?
Public Limited Company
General Partnerships
Private Limited Company
Sole Trader