F291 Objectives and Economies of scale quiz 3.0 / 5 based on 1 rating ? Business StudiesASOCR Created by: Daisy JudgesCreated on: 30-12-12 14:09 What does setting objectives provide? A sense of direction and clarity at all levels of the business, aswell as motivation force and a basis for decision making 1 of 9 Tactical objectives are ... Day to day short term objectives needed to ensure the strategic objectives are achieved 2 of 9 Strategic objectives are ... How a business plans to achieve its aims or goals in the long term 3 of 9 Constraints on achieving objectives can be BLANK and BLANK Internal and External 4 of 9 Give an example of internal constraints Lack of finance 5 of 9 Economies of scale are advantages of being a big company. Give all 6 EOS. Purchasing bulk, Marketing, Managerial, Risk bearing, Technical and Financial 6 of 9 Diseconomies of scale are drawbacks of producing on a large scale. Give two examples of a DEOS. Workers feel less important and become demotivated due to a large workforce and the large amount of workers creates barriers to communication 7 of 9 What does the Financial economy of scale allow? More ability to gain finance as banks treat bigger firms better as they are more trustworthy 8 of 9 How does the Marketing and Risk Bearing economies of scale work? Cost is spread for marketing and risk is spread over more products for a big business 9 of 9
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