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Flashcards in Exam Questions Deck (15):
1

What are Johnson’s and Scholes criteria’s for attentive options?

  • Acceptability
  • Suitability
  • Feasibility

2

What does deligation provide to the deligatee?

  • Power
  • Authority
  • Responsibility
  • NOT Accountability

3

What is a functional manager?

  • A manager in charge of other departments
  • A person that can give advice and guidance to others

4

What is market orientation?

  • The concern to supply customer requirements
  • Outwards looking

5

  1. What is a profession bureaucracy structure?
  2. What is a machine bureaucracy?

  1. where management how well skilled staff to add value to the profession.
  2. the focus on standardisation of work (often technologists)

6

What is the main deterrent for new entrants into a market?

A customer base consisting of a few large customers - they already have high bargains powers with suppliers.

7

What is....

  1. pull promotion?
  2. push promotion?
  3. personal selling?

  1. Advertising to the the customer to "pull" them in.
  2. Promoting and pursuading to retialers to carry a brand / give it self space.
  3. Use of sales force to support push or pull promotions.

8

What is...

  1. Pure research?
  2. Applied research?

  1. Research to obtain new scientific or technical knowledge/understanding.
  2. Research into products which have obvious commercial or practical use.

9

  1. What is a 'Internet of thing'?
  2. What is a distributed ledger?

  1. A system of interrelated computing devices / machinery with the ability to transfer data without the need human requirements.
  2. A system that allows people who do not know each other to trust a shared record of events.

10

Split the following.......

  • Value chain analysis
  • Portners five forces analysis
  • The BCG matrix
  • PESTEL analysis
  • Analysis of distinctive competencies
  • Anstoff's matrix

in to the following categories....

internal planning, external environment and growth assessment.

Internal planning

  • Value chain analysis
  • The BCG matrix
  • Analysis of distinctive competencies

External environment

  • Porter's five forces analysis
  • PESTEL analysis

Growth assessment

  • Ansoff's matrix

11

  1. What is a differentiation strategy?
  2.  Give examples of this.

 Making your products and services distinguishable from competitors in ways which target customers will value.

  •  Bettering your product with superior component parts /  improved features and benefits 
  •  Distinctive branding 

12

  1.  Define a business plan 
  2.  Define a strategic plan 
  3.  Define an operational plan

  1.  A business plan sets out the market to be served, how they will be served and the finance required. 
  2.  A strategic plan sets out the business overall objectives and how to achieve them.
  3.  An operational plan specifies what is expected of each function in the business. 

13

What is risk aversion?

 A measure of the appetite for risk 

14

What is...

  1.  Tactical information 
  2.  Operational information 
  3.  Strategic information 

  1.  Tactical information helps staff to deal with short-term issues and opportunities 
  2.  Operational information is concerned with day-to-day issues 
  3.  Should you take information has long-term concerns 

15

What is the main concern of...

  1. The entities suppliers
  2. The entities shareholders

  1. Liquidity
  2. Risk and return