quizes

Question 1

Rewards of risk taking

Answer 1

Financial , independence, self satisfaction

Question 2

purposes of business planning

Answer 2

to help get finance
identify the resources needed for a business to operate
to help achieve aims and objectives

Question 3

not doing a business plan is risky

Answer 3

plan may reveal that the target market may not want the product at the prices it’s being sold

Question 4

to increase ones market share one must

Answer 4

improve product quality
lowing prices
increasing the amount of advertising

Question 5

business objectives may change due to

Answer 5

new rivals entering the market
previous objectives being reached
ambitions of the owner

Question 6

customers effect the business because

Answer 6

a business cannot service without their spending

Question 7

governments can affect business activity by

Answer 7

increasing taxation

giving grants out to businesses

Question 8

backwards vertical merger

Answer 8

joining up with your supplier

Question 9

distribution channel

Answer 9

method of getting hoods and services to a customer

Question 10

secondary research

Answer 10

research already done

Question 11

market segmentation

Answer 11

splitting market into segments , eg one gets cheap cars and one gets expensive cars

Question 12

point of sale promotions include

Answer 12

price reductions
competitions
free samples

Question 13

marketing purpose

Answer 13

to increase sales

Question 14

product life cycle

Answer 14

Introduction - growth - maturity - decline

Question 15

price skimming

Answer 15

initial high price

Question 16

qualitative research assist with the analysis of quantitative

Answer 16

by providing explanations

Question 17

marketing mix

Answer 17

product place price promotion

Question 18

discrimination laws

Answer 18

equalities act

• age
• disability
• gender
• marriage
• race

Question 19

long chain of command makes

Answer 19

decisions slower

Question 20

professional development includes

Answer 20

vocational studies, practical

Question 21

financial methods of motivating workers

Answer 21

profit sharing
fringe benefits
bonus
pay rise

Question 22

methods of selection

Answer 22

CV
application form
letter of application
interviews
tests
group activities
references

Question 23

recruitment documents include

Answer 23

person specification and a job description

Question 24

reduce recruitment costs

Answer 24

improve employee retention

good reputation -> better quality and quantity of applicants

Question 25

benefits of using a telephone

Answer 25

personal and flexible communication

faster than sending a letter

Question 26

bad things about telephone

Answer 26

no record of the conversation

people may misinterpret what you say

Question 27

digital communication has unfortunately

Answer 27

not benefitted all workers as some may feel stressed therefore less productive
can go down or have faults which may stop business operations instantly

Question 28

digital communication fortunately

Answer 28

works can work from home
new business opportunities
Increased completion leading g to lower prices and more r & d

Question 29

part time is when

Answer 29

person worker fewer than 35 hours per week

Question 30

Human Resources are

Answer 30

people who work for a business