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BUSS3 Revision Quiz - Week 2
1. These are all strategic activities involved in HRM - except which one?
A
Employee engagement
C
Inventory management
B
Workforce planning
D
Recruitment & selection
2. Which of these is an external influence on a firm's marketing strategy?
A
Unit costs of production
C
Ability to develop new products
B
Quality of customer service
D
Changes in household tastes and fashions
3. Which ratios will be of most interest to a bank which has large debts owed to it by a firm?
A
Liquidity ratios
C
Profitability ratios
B
Financial efficiency ratios
D
Shareholder ratios
4. The two main parts of the equity half of the balance sheet are:
A
Current assets & current liabilities
C
Share capital & retained profits
B
Non-current assets and current assets
D
Long-term liabilities & shares
5. One of these statements about the income statement is correct - which one?
A
It shows the assets and liabilities at a point
in time
B
C
It measures the net cash flow of a business
D
It provides evidence about a firm's liquidity
It helps measure the success of a business
6. Return on Capital Employed (ROCE) is also referred to as the:
A
Acid-test ratio
C
Primary efficiency ratio
B
Financial efficiency target
D
Measure of last resort
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BUSS3 Revision Quiz - Week 2
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-27. The current ratio is closely connected with which term / concept?
A
Profit centres
C
Long-term liquidity
B
Working capital
D
Capital structure
8. An alternative name for the term gearing is:
A
Capital intensity
C
Equity
B
Leverage
D
Liquidity
9. Which of Porter's generic strategies would be used by a small firm targeting a niche market segment?
A
Cost leadership
C
Cost leadership
B
Differentiation focus
D
Diversification
10. Which of these is an example of a quality control process at a factory?
A
Total quality management is applied in the
C
factory
B
Production employees work together as a
team
Factory manager inspects finished output
D
Employees take pride in their work
for rejects
11. An internal influence on a firm's workforce plan would be:
A
An increase in unemployment
C
Actions of competitors
B
Existing skills of the workforce
D
Technological change
12. As a firm grows in size, what happens to its unit costs?
A
They will stay the same
C
They will always rise
B
They will always fall
D
They can rise or fall
13. An internal influence likely to affect achievement of operational objectives is:
A
Availability of finance for investment
C
Changes in legislation
B
An economic downturn
D
Actions of competitors
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BUSS3 Revision Quiz - Week 2
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-314. Which of these is a method of lean production?
A
Quality inspections
C
Investment appraisal
B
Offshoring
D
Time-based management
15. A firm stays in its original location even if a new location would be better. This is known as:
A
Location loyalty
C
Market myopia
B
Location resistance
D
Industrial inertia
16. The delegation of a business process to an external provider is known as:
A
External delegation
C
Offshoring
B
Outsourcing
D
Decentralisation
C
Advertising a new product online
D
Showing a new product to employees
17. Which of these is an example of test marketing?
A
Sending a new product to potential
advertisers
B
Launching a new product in a limited
geographical area
18. Which of these would create a one-off, but not sustainable source of finance for a firm?
A
Lengthening the working capital cycle
C
A sale and leaseback of property assets
B
Agreeing new long-term banking facilities
D
A higher profit margin through economies
of scale
19. Which measure of profit is best used in the ROCE calculation?
A
Retained profit
C
Operating profit
B
Profit after tax
D
Gross profit
20. Which of these businesses pursues a strategy of cost leadership?
A
Burberry
C
Waitrose
B
Ryanair
D
Jaguar Land Rover
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BUSS3 Revision Quiz - Week 2
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