Business U2 4.0 / 5 based on 1 rating ? BusinessASAQA Created by: Milan ParkerCreated on: 22-05-13 21:32 Q. Gross Profit calculation? A. Revenue-VC 1 of 38 Q. GPM calculation? A. Gross profit/Revenuex100 2 of 38 Q. ROCE calculation? A. Net profit/Capital Investedx100 3 of 38 Q. What is competitiveness? A. The ability to provide products as, or more, effectively and efficiently than competitors. 4 of 38 Q. What did Taylor believe? A. Workers only care about money, they only respond as a group and they can be treated like machines. 5 of 38 Q. What did Maslow believe? A. 5 Step hierarchy of needs; Physiological, Security, Belonging, Esteem and self-actualisation. 6 of 38 Q. What did Mayo believe? A. Workers care more about social needs than money. Introduced Human Relation School of Though. 7 of 38 Q. What is human relation school of thought? A. Managers should be interested in workers, treat them as people with valuable opinions and they enjoy interacting and team work. 8 of 38 Q. What did Herzberg believe? A. Hygiene (Essential) and Motivator factors 9 of 38 Q. Selection process of an effective workforce? A. Advertise, Applications, Short list, Interview and appoint. 10 of 38 Q. What's an organisational structure? A. The way jobs, responsibilities and power within a business are organised. 11 of 38 Q. What's functional authority? A. The relationships between managers and others. 12 of 38 Q. Types of organisational structure? A. Hierarchical/Pyramid, Matrix, Entrepreneurial and Independence. 13 of 38 Q. Advice networks? A. Where the provision of information comes from. 14 of 38 Q. Trust networks? A. Who backs up whom 15 of 38 Q. Communication networks? A. Who talks to whom regularly. 16 of 38 Q. Labour productivity equation? A. output/average employees 17 of 38 Q. Absenteeism equation? A. Absent staff on a day/total staffx100 18 of 38 Q. Labour turnover equation? A. Number of staff that have left/Average number of staffx100 19 of 38 Q. Capacity utilisation equation? A. Current output/Maximum outputx100 20 of 38 Q. Quality control? A. Reviewing work that's been done. 21 of 38 Q. Quality assurance? A. Controls procedures to minimise faulty outputs. Also known as zero defect. 22 of 38 Q. Vendor rating? A. Rating criteria with different maximum scores based on importance. 23 of 38 Q Firms and suppliers establish what? A. A service level agreement. 24 of 38 Q. Methods of meeting customer service expectations? A. Training and market research. 25 of 38 Q. What are the 4 P's? A. Price, Place, Product and Promo. 26 of 38 Q. Boston matrix? A. Rising star, Problem Child, Cash cow, Dirty Dog. 27 of 38 Q. What's a rising star? A. High Market Share and Growth. 28 of 38 Q. What's a problem child? A. High market growth, Low market share. 29 of 38 Q. What's a cash cow? A. High market share, Low market growth. 30 of 38 Q. What's a dirty dog? A Low market share and growth. 31 of 38 Q. Price Skimming A. High price for low quality. 32 of 38 Q. Premium pricing? A. High quality, High price. 33 of 38 Q. Economy pricing? A. Low quality, Low pricing. 34 of 38 Q. Price penetration? A. Low price, High quality? 35 of 38 Q. Distribution channels? A. Moves product into consumption. Each 'party' is called an intermediary. 36 of 38 Q. 5 stages of product life cycle? A. Development, Introduction, Growth, Maturity, Decline. 37 of 38 Q. Extension strategies? A. New mark for ex product, Wider product range, Aim at specific markets, change appearance or 'ingredients'. 38 of 38
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