Question | Answer |
In what type of market do wheat farmers sell their products? | Resource
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During the acquisition stage of the human resources management process what is one thing that need to be developed? | A job description
| Customers at a furniture store are asked to give their postcodes at the checkout. What is this an example of? | Primary research to determine target market
| At which stage of the marketing process would a business examine its internal and external influences? | When conducting a situational analysis
| Which of the following includes two examples of transforming resources? | Facilities and human resources
| What is a source of new capital for a public company? | Primary market of the Australian Securities Exchange
| When pricing a potential job, a plumber considers how long the job will take and how difficult it will be. Which pricing method is being used? | Costbased
| Which is the best method for managing the stock of fresh milk in a supermarket? | First‑in‑first‑out
| A business wants to minimise the volume of its waste. Which performance objective is the business trying to achieve? | Cost
| What is a characteristic of external equity finance? | Diluted business ownership
| What is an example of a business using performance pay? | Sally’s department receives a bonus for meeting its sales target.
| What is an example of publicity for a restaurant? | A review of the restaurant by a food critic on his blog
| The term compliance costs refers to expenses associated with meeting | legal requirements.
| What would the focus of a business aiming to reduce expenses? | Establishing cost leadership
| Why might a business adopt a standardised global approach to marketing? | To take advantage of economies of scale
| Sally shops at a particular store as she has always received excellent service there. What type of factor is influencing her choice of store? | Psychological
| A business is planning to increase its market share by merging with a competitor. What financial objective does this best illustrate? | Growth
| Grievance procedures are used when | employees have complaints
| Name the operations performance objectives? | Cost, dependability, quality, speed
| A new business is experiencing a rapid increase in sales following a series of positive posts on social media. Which stages of the product life cycle is the business experiencing? | Establishment to growth
| A car assembly plant had to shut down operations for a day because tyres had not been delivered.What inventory management strategy at the car assembly plant may have caused this situation? | Just In Time
| A business has shifted from intensive distribution to more selective distribution. What is the most likely reason for this? | To reposition products as higher quality
| What is the main reason for a business using penetration pricing? | To gain short-term market share
| An Australian business sells its Bonza Pies in both Australia and China. Bonza Pies sold in China are made to a different recipe. What is this an example of? | Customisation and global branding
| Work patterns in Australia have changed over the past 20 years.An example of such a change is the decrease in | full-time male participation.
| What is a reason for a business to use a democratic leadership style? | It has experienced, highly skilled employees.
| Why would a business choose debentures as a source of funding? | To retain ownership and control
| What is the most likely result of a business achieving economies of scale? | Greater efficiencies in production
| What is the most likely impact of a recession on human resources? | Decrease in employee bargaining power |