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EOPA TThomas3
entreprneurship pathway
| Question | Answer |
|---|---|
| What are the four basic functions of management? | Controlling, leading, organizing planning, Staffing (CLOPS) |
| What does the acronym SWAT stand for? | A SWOT Analysis is a technique that evaluates a company’s internal strengths and weaknesses and its external opportunities and treats. |
| Four elements of BCG Matrix/ | Stars, cash cows, question marks, dogs |
| What is quality control? | The process of a business that seeks to ensure the quality of their products/services meet the customer needs by testing their products or services |
| First line managers are usually referred to as? | Commonly referred to as first line managers (lower level management) |
| List the first step of the decision making process? | Step 1: Identify the problem |
| What are ledgers? | books in which financial records are written |
| what is a trial balance? | a summary of all the financial data in the account ledgers that ensures the figures are correct and balanced |
| What is a profit and loss statement ? | a financial statement showing revenue, expenditure and profit during a given period |
| What are operating expenses ? | salaries of sales and office staff, marketing costs, rent etc.= overheads |
Created by:
MoneyMia
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