Autocratic leadership can be said to be synonymous to dictatorship where only one person has the authority over the followers or workers. Their decision has to be taken as the golden rule and should never be questioned. They plan out everything and order their subordinates to work according to their rules. For instance, if a company has an autocratic leader as the Managing Director, the employees in the company would have to work as per the rules set down by him. They would not be expected to make any contribution from their side, which may actually help in enhancing the productivity of the company. In short, the autocratic leader has full control of those around him and believes to have the complete authority to treat them as he wants.
Showing posts with label Questions and Answers: Business Studies. Show all posts
Showing posts with label Questions and Answers: Business Studies. Show all posts
Monday, January 24, 2011
Wednesday, January 19, 2011
Question: Using either company web sites or printed punished account, discover the “missions” of three well-known public limited companies.
Ans : A mission statement is a formal, short, written statement of the purpose of a company or organization.
Why might a private limited company be converted into a public limited company?
Ans. A private limited company is one in which shares are sold only to friends and family while the shares of a public limited company can be sold to the general public through the Stock Exchange.
Business Studies short questions collection
Distinguish between private and public limited companies. [2]
Explain the significance for companies of limited liability. [3]
Define the term “span of control”. [2]
Difficult Questions in Management
- Briefly outline the ideas that emerged from the 'human relations school' of management thought
Tuesday, January 18, 2011
How to write a case study analysis?
WRITING A CASE STUDY ANALYSIS
Often, as part of your course requirements, you will need to present your instructor with a written case analysis.
How to analyze case study analysis in Business Studies and Economics?
ANALYZING A CASE STUDY
As just mentioned, the purpose of the case study is to let you apply the concepts you've learned when you analyze the issues facing a specific company.
What is case study analysis in Business Studies and Economics?
WHAT IS CASE STUDY ANALYSIS?
A case study presents an account of what happened to a business or industry over a number of years. It chronicles the events that managers had to deal with, such as changes in the competitive environment, and charts the managers' response, which usually involved changing the business- or corporate-level strategy.
What are Maslow's Theory's Limitations and Criticism?
Though Maslow's hierarchy makes sense intuitively, little evidence supports its strict hierarchy.
Describe Maslow's Theory of Motivation - Hierarchy of Needs
The basis of Maslow's motivation theory is that human beings are motivated by unsatisfied needs, and that certain lower factors need to be satisfied before higher needs can be satisfied. According to Maslow, there are general types of needs (physiological, survival, safety, love, and esteem) that must be satisfied before a person can act unselfishly. He called these needs "deficiency needs."
Business Studies short questions collection
Distinguish between private and public limited companies. [2]
Explain the significance for companies of limited liability. [3]
Define the term “span of control”. [2]
Explain the advantages of a broad “span of control”. [3]
Why is break-even analysis a useful tool for managers? [2]
By use of a diagram, show how break-even quantity is established by graphical method. Label
the axes and lines. [3]
Briefly explain the difference between a Balance Sheet and a Profit and Loss Account. [2]
What additional information does the Cash Flow Statement give about the financial position
of a business?
Distinguish between secondary and tertiary levels of activity.
Outline the benefits to a country of successful businesses. [3]
Define the term ‘added value’. [2]
Explain why it might be desirable for a firm to have high added-value products. [3]
Outline the functions of a trades union. [5]
Distinguish between revenue expenditure and capital expenditure. [2]
Briefly explain why different sources of finance might be needed for revenue expenditure and
capital expenditure. [3]
Define the term ‘sole trader’. [2]
Explain one disadvantage of being a sole trader. [3]
Define the term ‘price elasticity of demand’. [2]
Explain one determinant of demand for a product other than price. [3]
Outline two ways in which a manufacturer might control the quality of its products. [5]
Briefly explain the purpose of the Cash Flow Statement in company accounts. [2]
Briefly distinguish between internal and external sources of finance. [3]
Define span of control. [2]
Briefly explain why some people might prefer to work for a business with wide spans of
control. [3]
Explain liquidity. [2]
Explain one way in which a business might improve its liquidity. [3]
Outline the benefits of lean production for a manufacturer of electronic goods. [5]
With an appropriate example, explain what is meant by variable costs. [2]
Explain why it is sometimes difficult to separate costs into variable costs and fixed costs. [3]
Outline one difference between the public sector and private sector of an economy. [2]
Explain one difference between private and public limited companies. [3]
Define the term ‘redundancy’. [2]
Briefly explain the role of human resource management. [3]
Explain the importance of profit maximisation for a public limited company. [5]
Briefly distinguish between primary and secondary market research. [2]
Explain why a business might use quota sampling in market research. [3]
Explain one objective of a public sector organisation in your country. [2]
Briefly outline the main features of a ‘public limited company’. [3]
State the formula for an accounting ratio that might be used to measure the profitability of a
business. [2]
Explain two factors that might affect the profitability of a business. [3]
Briefly explain two ways in which a manufacturer of tinned foods might find break-even analysis
useful. [5]
Distinguish between the mean and the median. [2]
Briefly describe one business situation in which the median might be a more useful measure
than the mean. [3]
(a) State two objectives a business might set in the short run. [2]
(b) Briefly explain the importance to a business of setting objectives. [3]
(a) Define the term ‘quality control’. [2]
(b) Describe two ways in which a manufacturing company might control the quality of its
products. [3]
Explain how two different stakeholder groups might use the published accounts of a business.[5]
Define the term ‘working capital’. [2]
Describe one method a business might use to manage its working capital. [3]
What is meant by the term ‘market segmentation’? [2]
Why might a business segment the market for its products? [3]
Briefly explain how the Government assists businesses in your country. [5]
State two reasons why a business should ensure the quality of its products. [2]
Outline one way a business might ensure the high quality of its products. [3]
Distinguish between ‘revenue expenditure’ and ‘capital expenditure’. [2]
Briefly explain why a business should depreciate its fixed assets. [3]
State two different methods of measuring the size of a business. [2]
Briefly explain why it might be difficult to compare the size of different businesses. [3]
Explain why successful businesses are usually market-orientated. [2]
Why is it important for a marketing manager to understand the concept of the product life
cycle? [3]
Outline how, in your country, legal constraints might limit business activity. [5]
Why do businesses depreciate fixed assets? [2]
Explain why the payback period might be an important factor in deciding whether to invest in
new fixed assets. [3]
Distinguish between the public sector and private sector of an economy. [2]
Explain why some goods and services are provided by the public sector in your country. [3]
Outline how the market for soft drinks might be segmented in your country. [5]
Distinguish between the mean and the median of a set of data. [2]
Explain one business situation where the mode would be a useful measure. [3]
Define diseconomies of scale. [2]
Explain two different types of economies of scale from which a large retailer might benefit.
[3]
Define the term ‘free market economy’. [2]
State three legal controls which affect the way in which businesses operate. [3]
Briefly explain the importance for a manufacturer of managing working capital. [5]
State two different ways in which the size of a business might be measured. [2]
Briefly distinguish between niche and mass marketing. [3]
Define the term ‘work study’. [2]
Explain one way of using the results of work study to improve productivity. [3]
State two reasons why the market for a product might reduce in size. [2]
Distinguish between market size and market share. [3]
Explain how a manufacturing business might be affected by ethical issues. [5]
State two ways in which a business may achieve added value. [2]
Why is added value important for businesses? [3]
Define work study. [2]
Give three ways in which businesses might use the results of work study. [3]
Distinguish between assets and liabilities in a balance sheet. [2]
Briefly explain why businesses depreciate their fixed assets. [3]
Define the term “product portfolio”. [2]
Briefly explain the importance of the product life cycle in planning a product portfolio. [3]
Briefly discuss the importance of effective stock control for production managers. [5]
Define the term “levels of hierarchy”. [2]
Briefly explain the advantages of a matrix organisational structure. [3]
Define the term ‘span of control’. [2]
Explain one reason why an organisation chart would be useful to the employees in a
business. [3]
Other than price, outline one factor which could cause an increase in the demand for mobile phones. [2]
A business sells a product whose demand is relatively price inelastic. Explain the effect on
sales and revenue of a price increase. [3]
Briefly explain the importance of economies of scale to a manufacturer of cars. [5]
State two sources of finance which could be used to finance revenue expenditure. [2]
Explain the term ‘capital expenditure’. [3]Explain the differences between a sole trader and a partnership.
Ans. A sole trader is an individual or a single person who owns, controls and runs the business. The partnership, on the other hand, is a business owned and controlled by two or more (upto 20) members called partners.
Why might a public limited company be converted to a private limited company?
Ans. There are several reasons for a plc to be converted to a private limited. The major reason is the divorce between ownership and control
Why might a private limited company be converted into a public limited company?
Ans. A private limited company is one in which shares are sold only to friends and family while the shares of a public limited company can be sold to the general public through the Stock Exchange. This is the main reason for a private limited company to be converted into a public limited company or plc.
The issue of shares to the public can raise very large sums of capital (finance). This can prove very beneficial for the owners of a rapidly expanding private ltd. company who need finance in a short period of time. This means that alongwith having all the advantages of a private limited company, like limited liability and separate legal identity, a plc. also has a Stock Exchange listing.
Then finally the owners of the private limited company who are converting to a plc. Also know that once their aims are fulfilled, they can convert back to a private limited company.
The additional capital is not only used for expansion but to increase efficiency by modernizing and buying new machinery. It could also be used to diversify by take-over and mergers or starting a different product type
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