Unit 1 Exam Questions Flashcards

Question

What are the Challenges of starting business?

Answer 1

Existing Competion and lack of fianance

Answer 2

Motivated employyess and gives clear sense of purpsoe

Answer 3

Declaration of organisations overall puprose form ofundation for all objectives

Answer 4

Adaptabality issues and lack fo strategic direction

Answer 5

Organsataion run by volunteers and situated in the private secotr focus on humananitrian assitnance and adress soical enviromental problems aim to make postive imapct on community.

Answer 6

Diversification and sales revenue

Answer 7

Fixed cost payment for the use fo an asset such as property or [remsies that belongs to someone else.

Answer 8

employees should be assigned to perform one specific task, scientific methods are used to find one best way to perform a task, managers directly supervise employees and employees are paid based on their performance. The main motivation factor for employees is monetary gains.

Answer 9

Firm buy large quanaity from mnaufturin comopany brekadown resell for smaller untis.

Answer 10

Any aspect of a product that stands out from other products on market

Answer 11

direct disturbtion

Answer 12

Produce small number of same products in diffrent stages

Answer 13

Buy from wholesaler and sell products directly to customers

Answer 14

Addressing needs of employees through basic neccesties such as water to fianail incentives such as money

Answer 15

Motivators (achievement, recognition, the work itself) that directly lead to job satisfaction, and Hygiene Factors (salary, benefits, company policy) that prevent dissatisfaction but don't necessarily motivate.

Answer 16

Focus: Creating custom items or small batches for specific customer orders. Examples: Shipbuilding, architectural projects, custom furniture. Advantages: High degree of customization, caters to unique needs. Disadvantages: High cost per unit, time-consuming, less efficient for large

Answer 17

Focus: Continuous production of standardized goods on an assembly line. Examples: Car manufacturing, bottling plants, electronics assembly. Advantages: Very efficient for high-volume production, low unit costs, consistent quality. Disadvantages: Requires high initial investment in automation, less product variety, less adaptable to changing demands.

Answer 18

Focus: Large-scale production of standardized goods using highly automated assembly lines. A more specific type of flow production with very high volume. Examples: Toy manufacturing, household appliances. Advantages: Lowest possible unit costs, high efficiency. Disadvantages: Requires enormous production volume, inflexible to changing demands, high initial investment.

Answer 19

Focus: Combines functional and divisional structures, creating a grid-like system. Employees report to both functional and divisional managers. Advantages: Encourages collaboration and information sharing across functions and divisions, good for complex projects requiring expertise from multiple areas. Disadvantages: Can be complex to manage, potential for conflicts between functional and divisional managers.

Answer 20

Focus: Few levels of hierarchy, employees have more autonomy and decision-making power. Advantages: Faster communication, increased employee motivation and innovation. Disadvantages: Less clear lines of authority, may not be suitable for large organizations with complex operations.

Answer 21

Swithcing employees between diffrent jobs to avoid boredoem

Answer 22

Measurue show success of business htrough business plan

Answer 23

Firm grows faster than it's cashflow psotion can cope with

Answer 24

Transpepcycy and enviormental repsosbsiisty