Summer Exam Question

Question 1

Sources of external recruitment

Answer 1

1. Advertise in the media (newspaper, radio)
2. Use the service of a recruitment agency
3. FÁS (national training and employment agency)
4. Headhunting (approach people from rival businesses and invite them to apply)

Question 2

Advantages of external recruitment

Answer 2

1. Brings new ideas and a fresh perspective
2. Hiring an outsider may cause less jealousy and resentment
3. By opening the vacency up to outsiders, increase the chances of finding an excellent candidate

Question 3

Internal recruitment

Answer 3

Finding someone who already works in a business

Question 4

Sources of internal recruitment

Answer 4

1. Promotion (an employee who is doing a good job and might be able for a more challenging position)
2. Demotion (someone who is struggling at their job could move down)
3. Transfer (move an employee from an another department)

Question 5

External recruitment

Answer 5

Finding someone who does not Already work in the business

Question 6

Impact of technology on costs

Answer 6

Increase/ reduce costs

Question 7

How does technology help increase costs

Answer 7

• Cost of buying hardware and cost of maintaining hardware

- Cost of training staff in technology (can train in house or on training courses)

Question 8

How does technology reduce a business costs

Answer 8

• Computer Aided Manufacture (CAM) helps monitor products made in the factory to ensure the product is perfect this reduces money spent on refunds and repairs and helps the businesses reputation
• Fewer workers are needed because machines and technology do the job employees once did electronic data interchange means workers are no longer needed to count stock. Reduces wage bill

Question 9

EDI

Answer 9

Electronic Data Interchange

Question 10

Impact on technology in business opportunities

Answer 10

1. Design
2. International Trade
3. Direct Marketing
4. New Products

Question 11

Design

Answer 11

• Can be used to design new ideas
• Cheaper
• Quicker
• EG Can design new cars using (CAD) Computer Aided Design

Question 12

International Trade

Answer 12

-Allows a business to sell trade anywhere without setting up shop
-Business can advertise good ps to worldwide market
EG DELL don’t have shops sell items on their website

Question 13

Direct Marketing

Answer 13

-Business can use it database to store information about its customers
Such as names, email addresses as previous purchases

Question 14

New products

Answer 14

Gives Entrepreneurs opportunities to develop new ideas

EG Apple IPhone

Question 15

Quality Assurance as part of TQM

Answer 15

Is a business management strategies used by businesses to ensure that the business makes 100% perfect products 100% the time to 100% satisfy the customers
EG Guiness implement a TQM strategy

Question 16

TQM

Answer 16

Total Quality Management

Question 17

Four principles of TQM

Answer 17

1. Focus on the Customer
2. Employee Empowerment
3. Teamwork
4. Continuous Improvement

Question 18

Focus on the Customer

Answer 18

• Find out what the customer wants and set out making exactly that products
• Perfection is what customer wants

Question 19

Employee Empowerment

Answer 19

• Making excellent product requires excellent employees
• Give employees power to make their own decisions about their job
• Employees use their skills and knowledge to produce perfect product
• Make changes to improve quality of product

Question 20

Teamwork

Answer 20

• TQM requires excellent raw materials
• Business and suppliers must work together as a team
• Employees must work as a team as motivation to work harder

Question 21

Continues improvement

Answer 21

The business must try to do better every time

To make the perfect product

Question 22

Benefits of TQM

Answer 22

• Increase sales (improve reputation and increases sales and profit)
• Lower costs (no longer Spend money replacing faulty products, squanders money giving refunds and able to keep prices low)
• Improves motivation (empowers employees, satisfies esteem and social needs (MASLOW) and ore motivated work harder)
• Meet legal obligations (all goods must be of merchanble quality)

Question 23

Benefits of internal recruitment

Answer 23

Employees have knowledge how the firm works (no induction training)
Reduces labour turnover chance for promotion (motivation)
Reduces disruption (Quicker)
No advertising costs (Cheaper)
Employees skills ,attitude and capabilities are known by management