BAL3 Standard - sequence 1

A formal summary on the organisation's identify and aims is known as a

• Vision statement.

• Values statement.

• Mission statement.

• Business statement.

Why is it important to communicate aims and objectives in a business?

• To ensure staff awareness.

• To ensure staff annual development.

• To ensure staff meet personal targets.

• To ensure staff quote them to customers.

Which of the following is always included in a mission statement?

• Long -term planning.

• Secondary purpose.

• Short-term targets.

• Primary purpose.

Which factor is responsible for a weakening of currency?

• Labour market.

• Financial market.

• Globalisation.

• Tourism.

Why would a highly skilled role demand a higher wage?

• Salaries increase with inflation.

• Staff sourced locally are expensive.

• The labour market for this role is limited.

• The labour market for this role is extensive.

What is the potential impact of a delay in the supply chain?

• You may be recommended.

• You may receive positive feedback.

• You may have to offer compensation.

• You may have to chase the customer.

Identify the ‘external’ factor that may affect an organisation.

• Staff shortage

• Raw material supply

• Procedural change

• Production line change

What effect would an increase in export duties have on an organisation?

• More profit could be made

• Less lead time would be needed

• Fewer products would be ordered

• More products would be manufactured

What does the 'L' in PESTLE stand for?

• Legal.

• Location.

• Logistical.

• Legitimate.

The organisation you work for has been researching the introduction of finger print scanning. Which part of PESTLE does this relate to?

• Social

• Political

• Economic

• Technological.