assessing competitivness

Question 1

2 ways to asses competitiveness

Answer 1

pestle

swot

Question 2

receivables are

Answer 2

money owed by customers for products or services

Question 3

total equity is

Answer 3

share capital + reserves

Question 4

ratio analysis is

Answer 4

a quick indication of a firms financial performance

Question 5

2 ratio analysis

Answer 5

gearing

return on capital employed

Question 6

gearing shows

Answer 6

proportion of assets invested in a business that are financed on long term borrowing

Question 7

gearing formula

Answer 7

non current liabilities / capital employed x 100

Question 8

return on capital employed formula

Answer 8

operating profit / capital employed x100

Question 9

return on capital employed is

Answer 9

what rewards a business has made on resources available to it

Question 10

capital employed is

Answer 10

non current liabilities + equity

Question 11

labour productivity formula

Answer 11

output per time period / number of employees at work

Question 12

labour productivity is a measure of

Answer 12

efficiency of a person or machine

Question 13

labour turnover formula

Answer 13

number of staff leaving the firm per year / average number of staff x 100

Question 14

4 reasons why labour turnover may happen

Answer 14

• retirement
• maternity leave
• unsuitable for job
• changes in company

Question 15

2 internal factors that effect Labour turnover

Answer 15

• poor recruitment

- bad motivation / leadership

Question 16

one external factor that effects labour turnover

Answer 16

more local vacancies / better transport links

Question 17

labour retention formula

Answer 17

number of staff staying with firm / average number of staff x 100

Question 18

labour retention is

Answer 18

ability to convince employees to remain with the business

Question 19

absenteeism formula

Answer 19

total absense (hours of day) in the period / total working hours x 100

Question 20

absenteeism is

Answer 20

proportion of workers not at work on a given day

Question 21

2 financial strategies to improve employee performance

Answer 21

piece rate / bonuses

profit sharing / share ownership

Question 22

2 non financial strategies to improve employee performance

Answer 22

consultation strategies e.g. quality circles

empowerment strategies e.g. job enlargement/empowerment