Business Administration Level 3 Exam with 100% Correct Answers

Business Administration Level 3 Exam with 100% Correct Answers A formal summary of the organisation's identity and aim is known as a... *Ans* Mission statement Which of the following is ALWAYS included in a business mission? 1. Long term planning 2. Secondary purpose 3. Short term targets 4. Primary purpose *Ans* 4. Primary purpose Why is it important to communicate aims and objectives in a business? *Ans* To ensure staff awareness Which of the following factors is responsible for a weakening of currency? 1. Labour market 2. Financial market 3. Globalisation 4. Tourism *Ans* 2. Financial market Why would a highly skilled role remand a higher wage? *Ans* The labour market for this role is limited. What is the potential impact of a delay in the supply chain? *Ans* You may have to offer compensation Identify the external factor that may affect an organisation; 1. Staff shortage 2. Raw material supply 3. Procedural change 4. Production line change *Ans* 2. Raw material supply What effect would an increase in export duties have on an organisation? *Ans* Fewer products would be ordered What does the "L" in PESTLE stand for? *Ans* Legal The organisation you work for has been researching the introduction of finger print scanning. What part of PESTLE does this relate to? *Ans* Technological If the aim of a project is to increase the new customer base by 6%, within budget before September, which of the following indicates a successful project?: 1. On budget by August with 7% customer base increase 2. Under budget before June with 4% customer base increase 3. On budget by September with 5% customer base increase 4. Overspend before June with 6% customer base increase *Ans* 1. On budget by August with 7% customer base increase Which of the following indicates a successful project has been completed? 1. all objectives have been met 2. all project aims and objectives have been met 3. most project aims and objectives have been met 4. some project aims and objectives have been met *Ans* 2. All project aims and objectives have been met In project management, resources such as computers, projectors, tables and whiteboards are examples of... *Ans* Equipment Project management requires a budget to be defined... 1. so it can be used 2. so that it is worked within 3. so it can be followed loosely 4. so that purchase orders are paid *Ans* 2. So that it is worked within A product breakdown structure is used in project management mainly for... 1. monitoring 2. reporting 3. planning