2797949
Descripción
Test por m_hassell1, actualizado hace más de 1 año
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Creado por m_hassell1
hace casi 9 años
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Pregunta 1
Pregunta
Name the Calculation for Gross Profit ?
Respuesta
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Margin = Gross Profit (SP-VC) / Revenue X 100
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Margin = Gross Profit (SP-VC) / Revenue
Pregunta 2
Pregunta
What is the calculation for net profit?
Respuesta
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TR - (TVC+TC) / Revenue X 100
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TR - (VC+TC) / Revenue X 100
Pregunta 3
Pregunta
How do you increase a businesses profitability?
Respuesta
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Switch Suppliers
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Sell your Assets
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Reduce Expenses
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BE = Profit Margin
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Alter your Pricing Strategy
Pregunta 4
Pregunta
Name 4 causes of a business' failure, when cash flow issues occur
Respuesta
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Seasonal Demand
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Problem Child Products
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Sales Revenue is Overestimated
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Credit Sales
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Stock Is all in the businesses hands
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Too Many Staff
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Little Profit
Pregunta 5
Pregunta
What is the definition of a budget? Give two benefits.
Respuesta
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A Financial Plan + Motivational and Monitors a businesses progress
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A Cash Flow Plan + Realistic Overviews and Look at a businesses inflows and outflows of cash
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A Financial Plan + Money motivates employees
Pregunta 6
Pregunta
Name two drawbacks of a budget?
Respuesta
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Start Ups lack realism (Not realistic demands)
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Situations are always tangible
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Unable to gather all the information from this
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Unclear / Inaccuracies are key to business failure
Pregunta 7
Pregunta
What is the calculation for labour productivity?
Respuesta
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LP = Actual Output (Units Produced) / Number of Employees
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LP = Output / Number of Units Produced
Pregunta 8
Pregunta
What is the calculation for labour turnover?
Respuesta
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LT = Number of Employees Leaving / Total Number of Employees X 100
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LT = Number of Employees / Total Number of Employees Leaving
Pregunta 9
Pregunta
What is delegation?
Respuesta
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The processing of tasks down the hierarchy from a manager to the shop floor
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The processing of tasks down the hierarchy
Pregunta 10
Pregunta
What is the span of control?
Respuesta
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The number of employees that the manager is responsible for
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The number of employees being supervised
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The number of employees working under the manager
Pregunta 11
Pregunta
Name the two hierarchy structures? How does it effect staff?
Respuesta
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Tall + Specialises in promotions and high in opportunities, but decision making is slow
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Flat + Quick decision makings, but hardly any opportunities to climb the hierarchy
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High + Promotions aren't common but you have a higher wage structure
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Low + Better Communication between staff, better relationships and a higher productivity.
Pregunta 12
Pregunta
Name four ways of solving cash flow issues?
Respuesta
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Sale of Assets
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Sale and Leaseback
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Take Less Cash Out of The Business
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Bank Overdraft
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Bank Loan
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Share Capital
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Sale and Buyback
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Business Investors
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Business Angels
Pregunta 13
Pregunta
What is Internal Recruitment?
Respuesta
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This is when existing employees apply for a job in the company they are working for
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This is when employees recommend one of their friends for the job
Pregunta 14
Pregunta
What is external recruitment?
Respuesta
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This is when people are gathered from outside the company, and the bosses do not know the person
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This is when people are brought in from another country for employment in the UK
Pregunta 15
Pregunta
Choose two motivational theorists from this list.
Respuesta
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Taylor - Money Motivates employees to work harder and produce more products
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Maslow - Hierarchy of Needs - People are more satisfied when they move up the scale of employment
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Herzberg - Hygiene V. Motivators (Money, Needs, Etc)
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Mayo - Working in teams motivates more than money
Pregunta 16
Pregunta
Name the calculation for capacity utilisation?
Respuesta
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Actual Output Per Annum / Max Output Per Annum X 100
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Actual Output Per Annum / Output Per Annum
Pregunta 17
Pregunta
Name 3 impacts of under utilisation?
Respuesta
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Higher Unit Costs
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Lower Profits
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Negative Image
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Loss Of Reputation
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Raising Finance
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Trading Falls
Pregunta 18
Pregunta
What is Total Quality Management?
Respuesta
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A Japanese Concept introduced to minimise waste and focus on efficiency, increases sales, and creates a USP
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A German Concept introduced to focus on efficiency and creates a USP
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A Chinese Concept, that minimises waste and improves your reputation
Pregunta 19
Pregunta
What are the downfalls of TQM?
Respuesta
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Costs
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Training
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Disruption of Production
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Too many products
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Could lead to inaccuracies
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Too many Staff Issues
Pregunta 20
Pregunta
What is customer service?
Respuesta
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Giving Customers the correct service or product of high quality and enhances your reputation
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Giving customers the service they desire to fix or mend broken items or amend services.
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