Copy and Edit

Business A level Quiz (BUSS2)

Description

A levels Business Studies Quiz on Business A level Quiz (BUSS2), created by m_hassell1 on 24/05/2015.
m_hassell1
Quiz by m_hassell1, updated more than 1 year ago
m_hassell1
Created by m_hassell1 almost 9 years ago
19
1
0

Resource summary

Question 1

Question
Name the Calculation for Gross Profit ?
Answer
  • Margin = Gross Profit (SP-VC) / Revenue X 100
  • Margin = Gross Profit (SP-VC) / Revenue

Question 2

Question
What is the calculation for net profit?
Answer
  • TR - (TVC+TC) / Revenue X 100
  • TR - (VC+TC) / Revenue X 100

Question 3

Question
How do you increase a businesses profitability?
Answer
  • Switch Suppliers
  • Sell your Assets
  • Reduce Expenses
  • BE = Profit Margin
  • Alter your Pricing Strategy

Question 4

Question
Name 4 causes of a business' failure, when cash flow issues occur
Answer
  • Seasonal Demand
  • Problem Child Products
  • Sales Revenue is Overestimated
  • Credit Sales
  • Stock Is all in the businesses hands
  • Too Many Staff
  • Little Profit

Question 5

Question
What is the definition of a budget? Give two benefits.
Answer
  • A Financial Plan + Motivational and Monitors a businesses progress
  • A Cash Flow Plan + Realistic Overviews and Look at a businesses inflows and outflows of cash
  • A Financial Plan + Money motivates employees

Question 6

Question
Name two drawbacks of a budget?
Answer
  • Start Ups lack realism (Not realistic demands)
  • Situations are always tangible
  • Unable to gather all the information from this
  • Unclear / Inaccuracies are key to business failure

Question 7

Question
What is the calculation for labour productivity?
Answer
  • LP = Actual Output (Units Produced) / Number of Employees
  • LP = Output / Number of Units Produced

Question 8

Question
What is the calculation for labour turnover?
Answer
  • LT = Number of Employees Leaving / Total Number of Employees X 100
  • LT = Number of Employees / Total Number of Employees Leaving

Question 9

Question
What is delegation?
Answer
  • The processing of tasks down the hierarchy from a manager to the shop floor
  • The processing of tasks down the hierarchy

Question 10

Question
What is the span of control?
Answer
  • The number of employees that the manager is responsible for
  • The number of employees being supervised
  • The number of employees working under the manager

Question 11

Question
Name the two hierarchy structures? How does it effect staff?
Answer
  • Tall + Specialises in promotions and high in opportunities, but decision making is slow
  • Flat + Quick decision makings, but hardly any opportunities to climb the hierarchy
  • High + Promotions aren't common but you have a higher wage structure
  • Low + Better Communication between staff, better relationships and a higher productivity.

Question 12

Question
Name four ways of solving cash flow issues?
Answer
  • Sale of Assets
  • Sale and Leaseback
  • Take Less Cash Out of The Business
  • Bank Overdraft
  • Bank Loan
  • Share Capital
  • Sale and Buyback
  • Business Investors
  • Business Angels

Question 13

Question
What is Internal Recruitment?
Answer
  • This is when existing employees apply for a job in the company they are working for
  • This is when employees recommend one of their friends for the job

Question 14

Question
What is external recruitment?
Answer
  • This is when people are gathered from outside the company, and the bosses do not know the person
  • This is when people are brought in from another country for employment in the UK

Question 15

Question
Choose two motivational theorists from this list.
Answer
  • Taylor - Money Motivates employees to work harder and produce more products
  • Maslow - Hierarchy of Needs - People are more satisfied when they move up the scale of employment
  • Herzberg - Hygiene V. Motivators (Money, Needs, Etc)
  • Mayo - Working in teams motivates more than money

Question 16

Question
Name the calculation for capacity utilisation?
Answer
  • Actual Output Per Annum / Max Output Per Annum X 100
  • Actual Output Per Annum / Output Per Annum

Question 17

Question
Name 3 impacts of under utilisation?
Answer
  • Higher Unit Costs
  • Lower Profits
  • Negative Image
  • Loss Of Reputation
  • Raising Finance
  • Trading Falls

Question 18

Question
What is Total Quality Management?
Answer
  • A Japanese Concept introduced to minimise waste and focus on efficiency, increases sales, and creates a USP
  • A German Concept introduced to focus on efficiency and creates a USP
  • A Chinese Concept, that minimises waste and improves your reputation

Question 19

Question
What are the downfalls of TQM?
Answer
  • Costs
  • Training
  • Disruption of Production
  • Too many products
  • Could lead to inaccuracies
  • Too many Staff Issues

Question 20

Question
What is customer service?
Answer
  • Giving Customers the correct service or product of high quality and enhances your reputation
  • Giving customers the service they desire to fix or mend broken items or amend services.
Show full summary Hide full summary

Want to create your own Quizzes for free with GoConqr? Learn more.

Similar

Business Studies Unit 1
emily.mckechnie
Business Studies Unit 2
tara.springate
1.3.1 Characteristics of Successful Entrepreneurs
Molly Hills
Unit 1: Business Studies GCSE
Libby Rose
Unit 3 Business Studies
Lauren Thrower
BUSS1
Sophie Davis
The skills needed to be a successful entrepreneur
rhiannafordx
The skills needed to be a successful entrepreneur
Rosie Wallis
AS - Buss1 - Formula Cards
Sophie Davis
How to Turn Business Failure into Business Success
Micheal Heffernan
Chapter 40: Promotion
19leesia
Browse Library