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QR Challenge: Business Y1 Revision

QuestionAnswer
Gross Profit is £21.5m, Turnover is £51m, what is GPM?42.16%
What type of liability do the owners of an Ltd have?limited liability
Having a strong relationship with suppliers is needed for what type of stock control?Just In Time
What management style is in the top right of Blake Mounton's Grid?Team Management
Targeting marketing at a small group of customers is called?Niche Marketing
How do you calculate market capitalisation?No of shares x share price
What is the break even equation?BE= Fixed Costs/ Selling Price - Variable Costs
What are the 7P's?Price, Place, People, Promotion, Physical, Process, Process
What is the key term for removing layer of the hierarchy?Delayering
What is the key term at the bottom of Maslow's Hierarchy? Physiological Needs
Which theory suggested piece rate pay was a motivator? Taylor
Which theory used the Hawthorn Effect?Mayo
Is pay a Hygiene Factor or a Motivator? Hygeine Factor
Is responsibility a Hygiene Factor or a Motivator? Motivator
Name 4 types of Stakeholders? Employees, Shareholders, Customers, Suppliers, Lenders, Local Community
Name the 2 bottom layers of the objectives hierarchy? Functional & Corporate Objectives

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