a starter to warm you up a compendium of business studies questions
TRANSCRIPT
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A Starter to warm you up
A compendium of business studies questions
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Click a button…get a question
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What are the 4 p’s?
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What is product orientation?
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What is market segmentation?
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List the socio economic groups?
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Explain Mass, niche and test markets?
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What is primary research?
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What is secondary research?
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List the ways that primary research can be done?
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What does SWOT stand for?
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What is a franchise?
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What is ethical behaviour in business?
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What are a persons basic needs?
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What is the difference between a need and a want?
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Explain what happens if a business does not supply what the customer
wants
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Explain the difference between Primary Secondary and Tertiary
sector industries
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Name the three main types of industry
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What is Specialisation?
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What is the difference between boom and recession?
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How does inflation affect a business?
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List 4 examples of legislation that might affect a business
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What are imports?
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What are exports?
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How can the exchange rate affect businesses?
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What is the difference between an import and an export?
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Why do changes in price affect the demand?
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What is a socially responsible business?
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What are the functions of packaging?
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Give 5 examples of businesses that need to locate near to their
customers
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Why would a government offer incentives for a business to locate in a particular area?
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What is a stakeholder?
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Name 5 stakeholders you would find in a business
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What is a shareholder?
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Why might the people who own a company be interested in how well
it is doing?
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What is the first objective of any new business?
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What is breakeven?
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How do you work out the breakeven point?
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What is a sole trader?
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How many people are in a partnership?
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Why is it easy for a sole trader to set up a business?
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Why would a lack of specialisation cause problems for a Sole Trader?
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What does unlimited liability mean?
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What are the disadvantages of a partnership?
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What are the advantages of a partnership?
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What are the advantages of being a sole trader?
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What is meant by divorce of ownership from control?
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When a company has Ltd after its name what does this mean?
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What are the manager’s functions?
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What is the definition of manager?
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What are the differences between a manager and a leader?
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Who owns a company?
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Give the name of 4 companies that sell products in a mass
market
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What is market?
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What is market research?
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Why might a person decide to become a franchisee?
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What is a multinational company?
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Name the characteristics of a leader
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What problems might a multinational company face?
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What is the difference between product departamentalization
and function departamentalization
?
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What is the public sector?
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Name 3 organisations in the public sector
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Give 5 examples of goods and services produced by the public
sector?
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What does privatisation mean?
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What does nationalisation mean?
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What does span of control mean?
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What does chain of command mean?
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What is the meaning of the word delayering?
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What is an organisation chart?
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What are formal groups?
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What are informal groups?
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What does the word delegation mean?
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The span of control is very small – what does this mean?
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What is a business?
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List 5 functions of the Human Resource department
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What does the Marketing department do?
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What does the Production department do?
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What does the Finance department do?
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What is meant by recruitment?
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What is the role of an employment agency?
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What does internal recruitment mean?
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What does word of mouth mean?
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Why might a business need to recruit new staff?
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Why do businesses need to ask for references for potential
employees?
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What is a CV used for?
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Why would a business use application forms?
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What is motivation?
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Name 3 leadership styles
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State and explain two methods of market research that could be
used to see whether a new product is likely to succeed.
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What is skimming pricing?
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What is the product life cycle?
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What is cash flow?
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What is net flow?
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What is a variable cost?Give an example
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What is a fixed cost?Give an example
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Name 3 methods of paying employees
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What is commission?
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What is a fringe benefit?Give an example
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Name three different laws that affect businesses
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What does Added Value mean?Give an example
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Name 3 motivation experts
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Give the name of 4 market segments that can be used to
identify your market
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What is the first objective any business has?
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Explain what is meant by a merger?
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What in your opinion is the motivator for why people work
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Name the main responsibilities managers have
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Explain the meaning of labour turnover?
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Name 3 departments that most businesses will have
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What is the difference between a NGO and a business?
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Does a NGO make money?
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What is an overdraft used for?
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What does the Purchasing department do?
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Is it possible to motivate people with fringe benefits?
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What is an entrepreneur?
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How has technology changed the work place?
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What does hierarchy mean?
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What is empowerment?
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What is the opportunity cost?
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What is Gross Domestic Product?
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What is a pressure group?
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What is the formula for contribution?
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What is a market gap?
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State three situations in which a firm could use market research
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Distinguish between qualitative and quantitative research
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What is a brand?
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Why carry out a SWOT analysis?
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Give one benefit of operating in a Niche market
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Give one drawback of operating in a Niche market
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Identify two advantages of operating in a mass market
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Identify two problems of operating in a mass market
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What is a strategy?
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Which are the three type of plans?
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List three ways of promoting a product
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What are the three main channels of distribution?
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Why might a business initially receive low income from a product newly introduced onto the market?
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Do you think that you can train someone to change their
management style?
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Identify 4 groups with whom managers need to communicate
regularly ?
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How have improvements in technology improved
communication?
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What are the steps of a decision making process?
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Explain Management by objectives?
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Explain why it is important to know what your competitors are doing?
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How do we find out what our customers want?
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Outline three features of good objectives
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Distinguish between product oriented and market oriented
companies
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What is batch production?
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Distinguish between a random and a quota sample
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Do companies have the right to do what they want with their
employees, give a full answer?
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Are ethics always bad for a business?
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How do ethics influence brand image?
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What is the difference between the law and ethics?
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What is the mission of a company?
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What is the meaning of a tax?
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What is the 360º feedback?
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Can high labour turnover ever be good for a business and if so
how?
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What effect does high labour turnover have on a business?
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How can a manufacturing business become more
efficient?
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Define production capacity
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Define marketing
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What is the difference between one way and two way
communication?
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How can changes in the law affect a business?
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Name 4 important stakeholders in most businesses.
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What does VAT stand for?
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Name three steps in the recruitment and selection
process
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Give one reason why rebranding may be used
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Outline two advantages of evaluating employees
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State two possible drawbacks of a firm having a wide span of control
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Explain two advantages of a firm having a narrow span of
control
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Place is one of the 4 p’s what is meant by place?
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What is vertical integration?
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What is horizontal integration?