AOS 1 Unit 4

Question 1

Business change

Answer 1

is the
alteration of behaviours,
policies, and practices
of a business.

Question 2

proactive approach

Answer 2

is
when a business changes
to avoid future problems
or take advantage of an
opportunity to gain a
competitive advantage.

Question 3

reactive approach

Answer 3

is when a business
undertakes change in
response to a situation
or crisis.

Question 4

key performance indicators

Answer 4

criteria that measure
a business’s efficiency and
effectiveness in achieving
it’s different objectives.

Question 5

percentage of market share

Answer 5

measures the
proportion of a business’s
total sales, compared
to the total sales in the
industry, expressed as
a percentage figure.

Question 6

net profit figures

Answer 6

are
calculated by subtracting
total expenses incurred
from total business
revenue earned, over
a specific period of time.

Question 7

rate of productivity growth

Answer 7

is the change in
the total output produced
from a given level of inputs
over time, expressed as a
percentage figure.

Question 8

Number of sales

Answer 8

is the total quantity of
goods and services sold by
a business over a specific
period of time.

Question 9

number of customer complaints

Answer 9

is the number
of customers who notified
the business of their
dissatisfaction over a
specific period of time.

Question 10

rates of staff absenteeism

Answer 10

are the
average number of days
employees are not present
when scheduled to be at
work, for a specific period
of time.

Question 11

Staff morale

Answer 11

is the
collective attitudes,
satisfaction, and overall
outlook that employees
have of the workplace.
Staff morale can influence
a business’s productivity,
workplace safety,
attendance, and staff
turnover.

Question 12

level of staff turnover

Answer 12

is the percentage of
employees that leave a
business over a specific
period of time and must
be replaced.

Question 13

number of workplace accidents

Answer 13

measures the
amount of injuries and
unsafe incidents that occur
at a work location over
a specific period of time.

Question 14

level of wastage

Answer 14

 is the
amount of inputs and
outputs that are discarded
during the production
process.

Question 15

number of website hits

Answer 15

is the amount of customer
visits that a business’s
online platform receives for
a specific period of time.