Vce business management - Study guides, Class notes & Summaries

VCE BUSINESS MANAGEMENT questions with correct answers

Communicating - Answer The two way process of sending and receiving information Delegating - Answer The process of handling over tasks and responsibilities to subordinates Leading - Answer Involves the skill of the manager to influence others to do their best to achieve Planning - Answer Refers to defining objectives and determining strategies to achieve those objectives Decision Making - Answer The ability to choose the best course of action from a range of options Inte...

with correct answers Communicating - Answer The two way process of sending and receiving information Delegating - Answer The process of handling over tasks and responsibilities to subordinates Leading - Answer Involves the skill of the manager to influence others to do their best to achieve Planning - Answer Refers to defining objectives and determining strategies to achieve those objectives Decision Making - Answer The ability to choose the best course of action from a ra...

Sole trader A sole trader is a business that is run and owned by one person. The sole owner provides all financing and is responsible for decision making. What are the advantages of being a sole trader? Owner keeps all profits: All profits are kept and the owner doesn't have to share with partners Low cost of entry: It doesn't cost much, so a sole trade can operate right away e.g don't have to register Complete control of the business: owner has full control, is able to make decision...

Communicating The two way process of sending and receiving information Delegating The process of handling over tasks and responsibilities to subordinates Leading Involves the skill of the manager to influence others to do their best to achieve Planning Refers to defining objectives and determining strategies to achieve those objectives Decision Making The ability to choose the best course of action from a range of options Interpersonal skills Refer to the ability to communicate, inter...

VCE business management Unit 3 & 4 (notes) Questions and Answers ( Rated A) Sole trader - ANS- A sole trader is a business that is run and owned by one person. The sole owner provides all financing and is responsible for decision making. What are the advantages of being a sole trader? - ANS- Owner keeps all profits: All profits are kept and the owner doesn't have to share with partners Low cost of entry: It doesn't cost much, so a sole trade can operate right away e.g don't have to...

Domain name - ANSWER-a unique name identifying the website in a web address Consumer guarantees - ANSWER-consumers are guaranteed rights to repair, replace or refunds under the Australian consumer law Warranty - ANSWER-a written guarantee, issued to the purchaser of an article by its manufacturer, promising to repair or replace it if necessary within a specified period of time. Business taxation compliance - ANSWER-A business must pay tax. A business carrying out an enterprise in Austra...

VCE Business Management Unit 2 AOS 2 WITH COMPLETE VERIFIED ANSWERS. premium pricing the practice of keeping the price of a product or service artificially high in order to encourage favorable perceptions among buyers, based solely on the price. Customer base Pre-existing and potential customers. Target market A group of customers with similar characteristics who currently purchase the product or may do so in the future. 7Ps of the marketing mix Product price promotion people physi...

VCE UNIT 2 Business Management Questions and Answers ( Graded A+) Domain name - ANS- a unique name identifying the website in a web address Consumer guarantees - ANS- consumers are guaranteed rights to repair, replace or refunds under the Australian consumer law Warranty - ANS- a written guarantee, issued to the purchaser of an article by its manufacturer, promising to repair or replace it if necessary within a specified period of time. Business taxation compliance - ANS- A business mus...

VCE BUSINESS MANAGEMENT UNIT 3 & 4 EXAM REVISION 1. What is a business?: A lawful organisation involved in the provision of goods and/or services to consumers to earn a profit. 2. business type - sole trader: The individual owner of a business who is entitled to keeping all profits, as they are legally and financially responsible for all aspects of the business but are liable for all losses. - Owner has full control of assets and business decisions - Simplest and most inexpensive form of...