Level 3 Business Administration

What is defined as "a statement of the assets, liabilities (funds owed by the business), and capital of a business or organisation at a particular point in time, detailing the balance of income (money received) and expenditure (money spend) over the preceding period"? - correct answer balance sheet The following are all ways an organisation can _____________? - to realise or make unused assets work (e.g. renting out unused premises) - to implement rigorous procedures for obtaining payments on time - to offer discounts for fast payment of invoices - to use hire purchase / leasing for capital assets to spread payments - to negotiate trade terms from suppliers - to accurately forecast cash flow, in order to anticipate, and plan, for challenges - correct answer improve cash flow What is the term used for "the act of obtaining or buying goods or services"? - correct answer procurement In stakeholder analysis what does the 'P/I' grid analyse? - correct answer power and interest In 'behavioural' or 'competency' based interviewing the technique 'STAR' is an acronym of which words? - correct answer Situation, task/target, action, results True or false: the following tools can be used to identify drivers for change: -PESTLE -SWOT -Analysing performance -Reviewing customer feedback - correct answer true