Practice Qs Flashcards
Draw Mendelow’s interest and power matrix
Low interest, low power: Minimal effort
Low interest, high power, Keep satisfied
High interest, low power, Keep informed
high interest, high power, key players
What does PESTEL stand for?
Political
Economic
Social
Tech
Environment
Legal
What are the characteristics of Bureaucracy?
Specialisation
Hierarchy
Impersonal
Professional
Rationale
Uniformity
Stability
Technical competence
A range check gives assurance over
a) accuracy
b) completeness
c) accuracy and completeness
Range checks and control totals give assurance over
a) data verification
b) data validation
a
b
In which organisational structure is delegation easier, tall or flat
Flat
Draw the risk/response matrix
TARA
Transfer - low prob, high impact
Accept - low prob, low impact
Reduce - high prob, low impact
Avoid - High prob, high impact
Are the following support or primary activities?
Firm infrastructure
Service
Marketing and sales
HR Management
Outbound logistics
Inbound logistics
Tech development
Procurement
Operations
Support activities:
Firm infrastructure
HR management
Tech development
Procurement
Primary Activities:
Inbound logistics
Outbound logistics
Operations
Marketing and sales
service
What is the product/market growth strategy matrix?
Market penetration - existing market, existing product
Market development - new market, existing product
Diversification - new market, new product
Product development - existing market new product
What is the order of organisational structures on Likert’s authoritative-participative continuum?
Exploitative-authoritative
Benevolent-authoritative
Consultative
Participative
What is Maslow’s hierarchy of needs?
Self actualisation
Status/ego needs
Social needs
Safety/security needs
Basic/physiological needs
What is the BCG matrix
Star - high market share, high market growth
Cash cow - high market share, low market growth
? - low market share, high market growth
Dog - low market share, low market growth
What are the types and uses of different lengths of finance
Immediate - to pay wages and expenses
ST - to pay payables
Med Term - inventories, receivables, tax
LT - non current assets
What are the 8 roles in a group
Leader
Shaper - committed to task, can be pushy
Plant - ideas
Evaluator - realistic
Resource investigator - bridge to outside world
Company worker - admin
Team worker - peacemaker & support
Finisher - deadlines
Match the key term to definition
Chapter 1 of Competitions Act
Chapter 2 of Competitions Act
CMA
CMC
Insider dealing
Competition enquiries
Competition fixing and collusion
Abuse of dominant position
Chapter 1 of Competitions Act - Comp fixing and collusion
Chapter 2 of Competitions Act - dom pos
CMA - comp enq
CMC - insider dealing
What are the four types of business culture
Open systems - outward looking, flexible
Rational goal - outward looking, controlled
HR - inward looking, flexible
Internal processes - inward looking, controlled
What are the four Ds of a dynamic environment
Dynamic
Diverse
Difficult
Dangerous
Draw normal distribution, positive and negative skew
Normal distribution
Mean = median = mode
Negative - left skew, slope is on L hand side. mean, median then mode (high)
Most values in left
Positive skew - right skew. (high) mode, median mean
What is the definition of
Deviation
Variance
SD
Coefficient of variance
Deviation - how far from the mean that value is
Variance - average of squared deviations of all values
SD - sq root of variance
Coefficient of variance - SD / Mean
What are the four S’s of static environments
Static
Single
Safe
Simple
What are porters 5 forces
Industry competitors
suppliers
substitutes/complements
potential entrants
customers
What are the four business structures, their external environment and key section
Divisionalised structure, Simple static diverse, Middle line
Simple structure, simple dynamic, strategic apex
Machine bureaucracy, simple, static, technostructrue
Adhoc, Complex dynamic, operating core
