- •Череповецкий государственный университет
- •Кафедра экономики
- •Современный бизнес
- •Contents
- •Введение
- •Unit 1. The effects of demand and supply on business
- •1.1. Markets
- •Test Questions
- •Case study ‘Understanding the Market’
- •1.2. The Operation of Markets
- •If social costs exceed social benefits, the decision to produce a good or service makes society worse off even if the producers make a profit.
- •If social costs are less than social benefits, the decision to produce a good or service will make society better off. Test Questions
- •Case study ‘Record Industry’
- •1.3. The Effects of Government Policy on Markets
- •Indirect taxes
- •Test Questions
- •Unit 2. The competitiveness of a firm
- •2.1. The Performance of an Industry
- •International Trade
- •International comparisons
- •2.2. Government Action to Improve Competitiveness
- •2.3. Government Action and International Trade
- •2.4. Business Competitive Strategies
- •Test questions
- •Case Study
- •Unit 3. Business Organisations
- •3.1. Types of Business Organization
- •3.2. Organizational Structures
- •3.3. Factors Influencing the Organisational Structure
- •Internal factors
- •Test Questions
- •Case Study ‘Business Organisation & Structure’
- •Unit 4. Administrative systems
- •4.1. The Purpose of Administrative System
- •4.2. Administration Functions in Business
- •4.3. Evaluating Administrative Systems
- •4.4. Information Technology in Administration
- •Test Questions
- •Case Study ‘Satellite Supplies’
- •Unit 5. Communications Systems
- •5.1. Why Do Businesses Need Communications System?
- •5.2. The Objectives of Communication
- •5.3. Verbal Communication
- •Internal communications
- •5.5. Evaluating Communication Systems in Business
- •Test Questions
- •Case Study ‘Can You Communicate?’
- •Unit 6. Information Processing
- •6.1. The Purposes of Information Processing
- •6.2. Types of Information Processing Systems
- •Information Technology: positive and negative effects
- •6.3. Evaluating Information Processing Systems
- •Test Questions
- •Case Study “Information Technologies in Business”
- •Unit 7. The principles and functions of marketing
- •7.1. What is Marketing?
- •7.2. The Objectives of Marketing
- •7.3. Implementing the Marketing Mix
- •Test Questions
- •Unit 8. Market Research
- •8.1. What is Market Research?
- •8.2. Sources of Marketing Information
- •Information requirements
- •Internal sources
- •8.3. Primary Research
- •8.4. Market Changes
- •Information on sales
- •Test Questions
- •Case Study ‘Sun Rush’
- •4M Brits shrug off gloom in sun rush
- •Unit 9. Marketing Communications
- •9.1. Targeting an Audience
- •9.2. How to Reach a Target Audience
- •9.3. Product Performance
- •9.4. Guidelines and Controls on Marketing Communications
- •Test Questions
- •Case Study ‘Marketing Communication’
- •Unit 10. Customer Service and Sales Methods
- •10.1. ‘The Customer Is Always Right’
- •10.2. Placing the Product – Distribution
- •Indirect distribution via intermediaries
- •10.3. Closing the Sale
- •Test Questions
- •Case Study ‘Company Handbook’
- •Unit 11. Production
- •11.1. What is Production?
- •11.2. Just in Time Production and Total Quality Management
- •11.3. Improving the Productivity of Labour
- •11.4. Health and Safety at Work
- •11.5. Reducing Pollution from Production
- •In the working environment
- •In the natural environment
- •Test Questions
- •Case Study ‘Production and Productivity Consulting’
- •11.6. The Costs of Production
- •Identifying business costs
- •Indirect costs
- •Insurance
- •Variable costs
- •Test Questions
- •Case study ‘Waterhouse Waffles’
- •Unit 12. Pricing decisions and strategies
- •12.1. The Pricing Decision
- •12.2. Cost-Based Pricing
- •12.3. Market-Based Pricing
- •12.4. Competition-Based Pricing
- •12.5. Problems with Demand- and Competition-Based Pricing
- •Test Questions
- •Case Study ‘What Price Promotion?’
- •Unit 13. Monitoring business performance
- •13.1. Accounting for Business Control
- •13.2. Budgetary Control
- •Variance analysis
- •13.3. Ratio analysis
- •Test Questions
- •Case Study ‘Business Performance’
- •Unit 14. Preparing a business plan
- •14.1. What Is a Business Plan?
- •14.2. The Purposes of a Business Plan
- •14.3. Legal and Insurance Implications
- •Insurance
- •14.4. Business Resources
- •14.5. Potential Support for a Business Plan
- •Some review questions
- •Unit 15. Producing a Business Plan
- •15.1. Business Objectives and Timescales
- •15.2. The Marketing Plan
- •15.3. The Production Plan
- •15.4. The Financial Plan
- •15.5. Conclusion
- •Some Review Questions
- •Case Study ‘Business Plan’
Test Questions
1. |
The acid test ratio is used to identify an organisation’s: |
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A. |
Profitability |
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B. |
Use of assets |
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C. |
Ability to meet its debts |
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D. |
Long-term liabilities |
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2. |
During a trading period, the rate of stock turnover is best described as: |
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A. |
Total revenue from monthly sales of stocks |
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B. |
The average level of stocks held per month |
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C. |
The average cost per month of holding stocks |
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D. |
The number of times that stocks levels are replaced |
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3. |
The ability of a firm to control credit can be measured by: |
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A. |
Creditors divided by sales |
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B. |
Debtors divided by daily sales |
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C. |
Profits divided by debtors |
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D. |
Debtors divided by creditors |
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4. |
Calculating the return on capital employed by a company provides information on: |
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A. |
Profitability |
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B. |
How efficiently assets are used |
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C. |
Liquidity |
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D. |
Capital structure |
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5. |
All of the following are financial performance ratios used by business organisations except: |
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A. |
Return on net assets |
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B. |
Asset turnover |
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C. |
Stock turnover |
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D. |
Acid test ratio |
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Questions 6 – 8 are based on the following jumbled financial information for an organisation over a 12-month period (£000): Turnover 365 Fixed assets 400 Current assets 200 Current liabilities 50 Gross profit 90 Overheads 30 Debtors 60 |
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6. |
The gross profit margin is |
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A. 45% |
B. 28.5% |
C. 15% |
D. 24.7% |
7. |
The return on capital employed |
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A. 15% |
B. 22.5% |
C. 10% |
D. 16.4% |
8. |
The average debt collection period is |
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A. 60 days |
B. 6 days |
C. 10 days |
D. 75 days |
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9. |
The most likely reason for an adverse variance between the overheads budget and outturn is: |
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A. |
A cut in the price of electricity |
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B. |
A machine breakdown on the shop-floor |
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C. |
An increase in the standing charge for telephone lines |
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D. |
The purchase of a new, more efficient photocopier |
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10. |
If the budget for a particular business activity is zero-based, it means that: |
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A. |
The business has planned not to spend any more money on it |
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B. |
It is based on past information adjusted for inflation |
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C. |
It is fixed until the end of the budget period |
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D. |
It ignores past information in its preparation |
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11. |
A firm will wish to monitor its solvency because: |
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A. |
It reveals how much profit it is making |
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B. |
It reveals its ability to cover its debts |
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C. |
It reveals its tax liabilities |
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D. |
It reveals information on non-financial targets |
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12. |
Explain how and why business organisations monitor their performance using accounting information. Use examples to illustrate your answer. |