The Business of IT - Practice Final Exam
This practice exam will consist of a total of 100 marks, and will be broken up into sections.
Section A: Understanding Concepts (8 marks)
Question 1: What is a business? (1 mark)
Question 2: What is a product? (1 mark)
Question 3: What is the products offer or consumer value? (1 mark)
Question 4: What is a service? (1 mark)
Question 5: What are expenses? (1 mark)
Question 6: What is customer segmentation? (1 mark)
Question 7: What are some of the attributes associated with in-sourcing? (1 mark)
Question 8: Describe what it means to out-source, list some advantages/disadvantages? (1 mark)
Section B: (11 marks)
Question 9: List the two remaining ways/types of profit and how they can be calculated (2 marks)
Gross Profit = Revenue - Cost of Goods Sold (COGS)
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Question 10: Describe the difference between Transaction Orientation vs. Customer / Relationship Orientation (3 marks)
Question 11: What are the four main stages of team development? (2 marks):
Question 12: Name and describe two of the four typologies of leaders (2 marks):
Question 13: List 6 advantages of a business partnership (2 marks)
Section C: Financial Statements (9 marks)
Question 14: What is a balance sheet? (1.5 marks)
Question 15: What is an income statement (profit and loss statement)? (1.5 marks)
Question 16: What is a cash flow statement? (2 marks)
Question 17: Describe working capital? (1 mark)
Question 18: Describe what is meant by a Break Even Point? (1 mark)
Question 19: Describe what is meant by and provide a formula for the Return On Investment? (2 marks)
Section D: Understanding Business Models and the Foundation of Marketing (15 marks):
Question 18: List, Describe and Provide and example of five business models (7.5 marks):
Question 19: List and Describe the five fundamental stages of marketing (7.5 marks):
Section E: Elements of outsourcing (5 marks)
Question 20: Describe and list the 5 phases of the outsourcing process? (5 marks)
Section F: Developing a Business Case (20 marks):
Question 21: Name the main eight stages in developing a business case (8 marks)
Question 22: What are the main attributes of SWOT analysis and how can these be useful? (4 marks)
List and Describe the stages of a Digital Marketing Strategy (8 marks)
Section G: Organisational Structures and Ownership (10 marks)
Section A: Understanding Concepts (8 marks)
Question 1: What is a business? (1 mark)
Question 2: What is a product? (1 mark)
Question 3: What is the products offer or consumer value? (1 mark)
Question 4: What is a service? (1 mark)
Question 5: What are expenses? (1 mark)
Question 6: What is customer segmentation? (1 mark)
Question 7: What are some of the attributes associated with in-sourcing? (1 mark)
Question 8: Describe what it means to out-source, list some advantages/disadvantages? (1 mark)
Section B: (11 marks)
Question 9: List the two remaining ways/types of profit and how they can be calculated (2 marks)
Gross Profit = Revenue - Cost of Goods Sold (COGS)
?
?
Question 10: Describe the difference between Transaction Orientation vs. Customer / Relationship Orientation (3 marks)
Question 11: What are the four main stages of team development? (2 marks):
Question 12: Name and describe two of the four typologies of leaders (2 marks):
Question 13: List 6 advantages of a business partnership (2 marks)
Section C: Financial Statements (9 marks)
Question 14: What is a balance sheet? (1.5 marks)
Question 15: What is an income statement (profit and loss statement)? (1.5 marks)
Question 16: What is a cash flow statement? (2 marks)
Question 17: Describe working capital? (1 mark)
Question 18: Describe what is meant by a Break Even Point? (1 mark)
Question 19: Describe what is meant by and provide a formula for the Return On Investment? (2 marks)
Section D: Understanding Business Models and the Foundation of Marketing (15 marks):
Question 18: List, Describe and Provide and example of five business models (7.5 marks):
Question 19: List and Describe the five fundamental stages of marketing (7.5 marks):
Section E: Elements of outsourcing (5 marks)
Question 20: Describe and list the 5 phases of the outsourcing process? (5 marks)
Section F: Developing a Business Case (20 marks):
Question 21: Name the main eight stages in developing a business case (8 marks)
Question 22: What are the main attributes of SWOT analysis and how can these be useful? (4 marks)
List and Describe the stages of a Digital Marketing Strategy (8 marks)
Section G: Organisational Structures and Ownership (10 marks)