The Human Resource cycle is

Acquisition, Development, Maintenance, Separation

the four key business functions are

operations, finance, marketing, HR

Two examples of financial goals are

increase market share, maximise profit

The 4 Ps of marketing are

product, price, promotion, place

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Prelim Business topic 2 Business Management

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preliminary business studies topic 2 business management

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Questions 15

Answers

1
Ensuring products meet customer expectations is known as
Transformation
Quality management
Quality assurance
Quality control
2
The Human Resource cycle is
Recruitment, Training, Maintenance, Separation
Selection, Training, Maintaining, Separation
Acquisition, Development, Maintenance, Separation
Separation, Development, Acquisition, Maintaining
3
Anyone affected by the actions of a business is known as
stakeholder
shareholder
cup holder
dividend holder
4
Assets = Liabilities + Owners Equity is ...
Accounting Equation
Accounting process
Balance Sheet
Money stuff
5
Stock or inventory is known as a
Non current liability
Current liability
Current asset
Non current asset
6
Sales - COGS =
Not much
Expenses
Gross Profit
Net profit
7
COGS is
Cool off goods soon
Collection of goods sent
Cost of gross sold
Cost of goods sold
8
the four key business functions are
processes, finance, marketing, HR
ER, capital, marketing, operations
finance, production, promotion, HR
operations, finance, marketing, HR
9
Goods that can be touched are
tangible
services
intangible
breakable
10
A narrowly selected target market is known as
Market segmentation
Niche market
Target market
Mass market
11
A business acting in relation to a set of morals or values is known as
Donald Trump
Laws
Profitability
Ethics
12
Classical approach to management is mostly
democratic
authoritative
laissez faire
autocratic
13
Two examples of financial goals are
hire more workers, reduce waste
increase market share, maximise profit
Increase prices, increase promotion
decrease profits, decrease market share
14
Interpersonal skills and communication are examples of
Features of management
Management approaches
Behavioural Management
Skills of management
15
The 4 Ps of marketing are
process, price, promotion, placement
product, price, practice, place
tangible, price, promotion, place
product, price, promotion, place

Prelim Business topic 2 Business Management Flashcards | StudBud