Exam Questions Flashcards
1
Q
What are Johnson’s and Scholes criteria’s for attentive options?
A
- Acceptability
- Suitability
- Feasibility
2
Q
What does deligation provide to the deligatee?
A
- Power
- Authority
- Responsibility
- NOT Accountability
3
Q
What is a functional manager?
A
- A manager in charge of other departments
- A person that can give advice and guidance to others
4
Q
What is market orientation?
A
- The concern to supply customer requirements
- Outwards looking
5
Q
- What is a profession bureaucracy structure?
- What is a machine bureaucracy?
A
- where management how well skilled staff to add value to the profession.
- the focus on standardisation of work (often technologists)
6
Q
What is the main deterrent for new entrants into a market?
A
A customer base consisting of a few large customers - they already have high bargains powers with suppliers.
7
Q
What is….
- pull promotion?
- push promotion?
- personal selling?
A
- Advertising to the the customer to “pull” them in.
- Promoting and pursuading to retialers to carry a brand / give it self space.
- Use of sales force to support push or pull promotions.
8
Q
What is…
- Pure research?
- Applied research?
A
- Research to obtain new scientific or technical knowledge/understanding.
- Research into products which have obvious commercial or practical use.
9
Q
- What is a ‘Internet of thing’?
- What is a distributed ledger?
A
- A system of interrelated computing devices / machinery with the ability to transfer data without the need human requirements.
- A system that allows people who do not know each other to trust a shared record of events.
10
Q
Split the following…….
- Value chain analysis
- Portners five forces analysis
- The BCG matrix
- PESTEL analysis
- Analysis of distinctive competencies
- Anstoff’s matrix
in to the following categories….
internal planning, external environment and growth assessment.
A
Internal planning
- Value chain analysis
- The BCG matrix
- Analysis of distinctive competencies
External environment
- Porter’s five forces analysis
- PESTEL analysis
Growth assessment
- Ansoff’s matrix
11
Q
- What is a differentiation strategy?
- Give examples of this.
A
Making your products and services distinguishable from competitors in ways which target customers will value.
- Bettering your product with superior component parts / improved features and benefits
- Distinctive branding
12
Q
- Define a business plan
- Define a strategic plan
- Define an operational plan
A
- A business plan sets out the market to be served, how they will be served and the finance required.
- A strategic plan sets out the business overall objectives and how to achieve them.
- An operational plan specifies what is expected of each function in the business.
13
Q
What is risk aversion?
A
A measure of the appetite for risk
14
Q
What is…
- Tactical information
- Operational information
- Strategic information
A
- Tactical information helps staff to deal with short-term issues and opportunities
- Operational information is concerned with day-to-day issues
- Should you take information has long-term concerns
15
Q
What is the main concern of…
- The entities suppliers
- The entities shareholders
A
- Liquidity
- Risk and return
