CORRECT 240 REAL EXAM QUESTIONS AND CORRECT ANSWERS| GRADED A+ |2025
LATEST VERSION | 100% VERIFIED
1. What are the efficiency ratios?: show how well a firm's resources have been
used. Inventory turnover, payables days, receivables days
2. What is strategic drift?: happens when the strategy of a business is no longer
relevant to the external environment facing it
3. What are planned strategies?: Strategies that are planned out before action is
taken to implement it
4. What are emergent strategies?: Unplanned strategy that arises in response to
unexpected opportunities and challenges
5. What is network analysis?: works out the most efficient and cost-effective way
of completing a project
6. What is the critical path?: The critical path is the longest sequence of tasks in
the network diagram, representing the minimum time required to complete the
project.
7. what is float time, how is it calculated?: spare time available for an activity.
LFT-duration-EST
8. what are contingency plans?: Planned responses to be implemented when
and if a risk event occurs
,9. What is crisis management?: when an unexpected situation occurs and the
business has to respond
10. What is Handy's model of organisational culture?: Power culture-
decision made by small number of people. will struggle if business grows,
employees more likely to resist change.
Role culture- decisions come from senior managers so employees don't get
involved. Tend to avoid risk and are slow to respond to change, employees likely to
resist as nt used to doing things differently.
Persona culture- common in loose organisations of individual workers. Objectives
defined by personal ambitions, individuals have common goals. Decisions made
jointly, so likely to accept change, but can be tricky as often think about what's
best for themselves.
Task culture- emphasis on getting tasks done. gets small teams together on
projects. Can be conflict between who gets most resources and budget. Objectives
based around products. Change is normal as used to changing teams so not
resistant. 11. what are Kotter and Schlesinger's four reasons for resistance to
change?: 1) self interest- more concerned with own situation
2) Misunderstanding- don't know what it means for them
3) Low tolerance of change- used to doing tasks the way they know
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CORRECT 240 REAL EXAM QUESTIONS AND CORRECT ANSWERS| GRADED A+ |2025
LATEST VERSION | 100% VERIFIED
4) Different assessments of the situation- stakeholders disagree over reasons for
change
12. what are Kotter and Schlesinger's 6 ways of overcoming resistance
to change: 1) Education & communication- e.g. presentations 2) Participation
& involvement- stakeholders help implement
3) Facilitation & support- listen to concerns, hold meetings
4) Negotiation & agreement- compromise over some points
5) Manipulation & co-option- give them a desirable role, or manipulate info given
6) Explicit & implicit coercion- imply or state to threaten their job
13. What is delayering: Removing part of an organisation's hierarchy- flatter
structure
14. What are Mechanistic structures: Centralised, rigid, traditional structure.
Tall structure, decisions made by managers, employees specialised in certain
tasks.
15. What is organic structure: Decentralised, flat structure, employees involved
in decisions. Suit fast changing enviro. Employees work in teams
, 16. What is incremental change?: involves making a series of small, gradual
modifications to a system or process over time, rather than large, sudden
transformations. 17. What is disruptive change?: Forces firm to suddenly do
something in a different way to usual, lack of notice
18. What is Lewin's Force Field Analysis?: Shows the forces that drive and
resist change which help decide whether the plan should go ahead or not
19. What is automation: using machines instead of human labor
20. what is e-commerce: Conducting business on the internet (buying/selling on
the internet)
21. What are multinationals: Businesses that operate and conduct business in
multiple countries
22. What is offshoring?: moving parts of a business to cheaper countries
23. What is re-shoring?: Bringing offshore sources back to the home country 24.
What are methods of entering international markets?: Importing &
exporting= buying from/selling to consumers in other countries.
Licensing= foreign firms produce their goods under license e.g. original company's
name
Alliances= join forces with similar company abroad
Direct investment= take over or merge with business in different country