Business Management: Questions on Recruitment, Selection, Training, Motivation, and Financ, Summaries of Business Finance

Download Business Management: Questions on Recruitment, Selection, Training, Motivation, and Financ and more Summaries Business Finance in PDF only on Docsity! Higher Business Management Management of People and Finance Revision Questions Page 2 Recruitment and Selection (1) 1. Explain what workforce planning is and how a business would carry it out. (2 marks) 2. Distinguish between internal and external recruitment. (2 marks) 3. Explain the difference between a job description and a person specification. (2 marks) Page 5 4. Outline how a psychometric test measures personality and aptitude. (2 marks) 5. Name three activities that candidates might undertake in an assessment centre. (3 marks) 6. What is a trial or probationary period? (1 mark) Page 6 7. Describe a selection process that an organisation could use to ensure it employs the best workers. (4 marks) 8. Describe the benefits to an organisation of using interviews prior to appointing a new employee. (3 marks) 9. Describe and justify three forms of testing (other than interviews) in the selection process. (A different justification should be used each time). (6 marks) Page 7 Training 1. Name three types of training. (3 marks) 2. Outline two methods of training. (2 marks) 3. Outline two benefits of training for the employer. (2 marks) Page 10 6. Discuss methods that an organisation could use to ensure their staff stay motivated. (4 marks) 7. Compare the use of ‘time rate’ with ‘piece rate’ for paying employees. (3 marks) 8. Describe other employee payment systems that could be used by an organisation. (4 marks) Page 11 Employee Relations and Employment Legislations (1) 1. Explain the term employee relations. (1 mark) 2. Outline two support systems that can be put in place for employers. (2 marks) 3. Explain how the working environment can help employees stay motivated. (2 marks) Page 12 4. What is the purpose of employee appraisals? (1 mark) 5. What would be the result if a business did not try and motivate their employees? (2 marks) 6. Appraisals have identified poor performance for a member of staff. Describe the actions that a manager could take to improve the employee’s performance. (6 marks) 7. Explain the effects that poor employee relations could have on an organisation. (4 marks) Page 15 Cash Budgeting 1. Explain why positive cash flow is so important. (1 mark) 2. What does the term ‘balance’ mean? (1 mark) 3. What is the difference between a ‘surplus’ and a ‘deficit’ in a cash budget? (2 marks) 4. Suggest one way of solving a negative cash flow in a business. (1 mark) Page 16 5. What is the difference between cash flow and profit? (2 marks) 6. Give examples of expenses in running a business. (2 marks) 7. Describe the role of the finance department in meeting the expectations of HM Revenue and Customs. (2 marks) Page 17 8. Describe reasons for cash-flow problems that can affect an organisation. (5 marks) 9. Describe the actions that could be taken to overcome cash-flow problems. (5 marks) 10. Describe reasons why an organisation would use cash budgets. (5 marks) Page 20 Ratio Analysis 1. The gross profit percentage for a business is 35% while the industrial average is 40%. Is this good or bad? Explain your answer. (2 marks) 2. How could the gross profit ratio be improved? (2 marks) 3. Does the gross profit ratio show the gross profit? If not where will you find the gross profit figure? (2 marks) Page 21 4. Suggest a reason for an improvement in the net profit ratio. (1 mark) 5. Describe the limitations of ratio analysis. (5 marks) 6. Describe three accounting ratios and justify their use (a different justification must be used each time). (6 marks) Page 22 Technology 1. Suggest a benefit of selling shares. (1 mark) 2. What is the advantage of a grant over a loan? (1 mark) 3. Can you suggest an advantage over leasing a fixed asset rather than buying it? (1 mark) 4. Describe debt factoring. (1 mark) 5. Describe and justify three sources of finance. (6 marks)