Higher Business - The Final Coundown!

Who performed the song "The final count down"?

• Berlin

• Journey

• Europe

• Amsterdam

"Setting a very low price in order to attract customers from your competitors who will struggle to match low prices and may therefore go out of business"

What pricing strategy is this? (answer one word only)

Which sources of finance would be most appropriate to a third sector organisation?

• Donations

• Government grant

• Venture capitalist

• Issue of new shares

• Issue of new shares

Which type of business is NOT owned by shareholders

• Private Limited Company

• Public Limited Company

• Social Enterprise

• Partnership

A business that can purchase raw materials in bulk at a lower unit cost can be said to take advantage of :

• Economics of sale

• Economies of scale

• Economic External Factors

Stakeholders: Which of the following is NOT something that a bank might do that would impact on a business?

• Change foreign exchange rates

• Permitting or denying loan requests

• Changing interest rates on loans offered

• Changing repayment lengths

What was the question to this answer?: "An advantage of Centralised management structures is that they can lead to greater uniformity within the organisation as each branch of the business will be using standardised procedures. However, they are often less responsive to localised external pressures. It can also lead to demotivated staff who are not being given the opportunity to be involved in decision making".

• Compare centralised and de-centralised management structures

• Describe the features of a centralised management structure

• Discuss the advantages and disadvantages of a centralised management structure

• Explain the benefits of a centralised management structure

Who would most likely make operational decisions in a business?

• Chief Executive

• Senior Managers

• Middle management

• Supervisors

High tech businesses where competition is limited are usually:

• Market-led

• Product-led

A typical channel of distribution would include (select all that apply)

• Sea

• Retailer

• Manufacturer

• Rail