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Business and Finance

 
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Management 0002   Difficult

 
 
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1. Which writer on management died aged 95 during 2005?
 
Christopher Tugendhat
Henri Fayol
Milton Friedman
Peter Drucker
 
 
2. What does ISO9000 measure?
 
Failure rates
Consistency of business processes
Output rates
Work rates

Does not guarantee the quality of end products and services - it certifies that consistent business processes are being applied.
 
 
3. In business, what does a Gearing Ratio measure?
 
Borrowing relative to capital
Liabilities relative to assets
Debt relative to cash and debtors
Equity relative to creditors
 
 
4. What does WLAN stand for?
 
West Lothian Administrative Network
WiFi Linked Area Network
Wireless Local Admin Net
Wireless Local Area Network
 
 
5. According to David Frey, how many small businesses start with no marketing plan?
 
28 per cent
48 per cent
78 per cent
98 per cent

His in-depth research convinced him that this was a fact
 
 
6. In which field of management was Henri Fayol a significant writer?
 
Financial planning and control
Mergers and acquisitions
Niche marketing
Scientific organisation of labour
 
 
7. Value based pricing is a method of pricing base upon what?
 
An intermediary's perceived value
Guaranteed gross margins
Marking up from the cost price
What the market will bear
 
 
8. When setting business goals, SMART stands for Specific, Measurable and which three other words?
 
Appropriate, reasonable, truthful
Accurate, robust, timely
Achievable, realistic, time-based
Ambitious, relative, thorough
 
 
9. What are the four Ps within a classical marketing mix?
 
Product, Price, People, Plan
Product, Price, Place, People
Product, Price, Place, Promotion
Product, Price, Plan, Process

People is often put forward as a fifth P, but has more to do with implementation
 
 
10. Who is credited with saying "It is better to pay a creditor than give to a friend"?
 
Aristotle
Richard Milhous Nixon
George W Bush
Tony Blair

Somewhere between 384 and 322 BC
 
 
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