Business Development Interview Prep: Regent University

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INTERVIEW QUESTIONS
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Q .1) Why Regent/University?
Regent University ranked among top national universities and offers more than 135 courses.
One of the most important thing that sets Regent apart from others is the commitment to
academic excellence. With a 14% growth in the previous two years, Regent University is
currently the fastest growing university in the nation.
Q.2) How do you see a degree fitting into your future?
In today’s rapidly changing world, I want to make myself able to adapt changes and grab new
opportunities and it is very necessary for me to develop entrepreneurial abilities to start my
venture and get success to expand my career horizon. This will help me to build my
competencies in functions of management like business modeling and basic accounting. Make
me able to gain grounding in business management and enable me to develop an entrepreneurial
attitude and spirit and look at to develop business from a practical perspective.
Q.3) In your opinion, which public sector trend do you feel has helped the economy of the
UK grow over the past 5 years?
According to me, the banking and finance sector contributed more than any other sector to the
economy of the UK. Banking and financial services contributed £119 billion to the economy of
the UK that is 6.5% of total output. While talking about employment generation in the UK this
sector generated 1.1 million jobs means 3.2% of all jobs.
Q.4) How would an academic theory of your choice can be used to measure the success of a
merger?
Synergy theory can be used to measure the success of a merger this theory includes operational,
financial, managerial and market synergies. Operational synergy enables to measure the
efficiency in production, R&D, and technology. Financial synergy refers to tax benefits, low
transaction cost and low cost of capital. Managerial synergy enables to increase the efficiency in
the economy and the company become stronger through market synergy in terms of customers,
price control and market participants.
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Q.5) What do you understand about the terms globalization and trade blocs? How would
they effect each other?
Globalization-This refers to an efficient flow of goods, services, workforce, and capital across
different economies of the world and in other words, it can be said that integration of different
economies with the help of trade. This is the integration of local economies with the globe-
spanning network of trade and communication.
Trade Bloc- In order to reduce or eliminate trade barriers there is a set of a special agreement
between countries, states and regions regarding to their economic relationship with each other is
termed as Trade Bloc.
Effect
By making global negotiation easy trade bloc helps globalization and often do not help the
process of globalization by creating conflict parties fighting for regional interests.
Q.6) How have business promotion changed over the past 10 years? Do you feel the changes
are relevant? Why?
Business promotion changes over the period, previously businesses had limited channel and
network of promotion to reach customers in order to aware customers about products and
services but with the time there is an increment in the channel of promotion that increases the
reach of businesses to customer social media and internet is the best example of it. In previous
time businesses advertised and promoted its products and services on T.V, newspaper, radio, and
magazine but today, almost all businesses have its presence on the internet this is the most
effective way to communicate promotion message and reach the mass. I agree that changes are
relevant, to succeed in this competitive environment this is very important for the businesses to
keep pace with technology and changing the environment. The changes in the promotion are as
per the changing condition and requirement of the market and to the aware customer of each
group.
Q.7)We use Harvard referencing here, can you talk us through your past experience using
academic referencing? Can you give me an example of how you would reference a book?
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Referencing is a very useful technique to demonstrate that an individual writes a specific topic
after the complete research and understanding. Individuals get support to their opinions and
points by valid evidence from a reliable source. This reflects that an individual cannot plagiarize
the work of others without giving them credit and apart from this referencing reflects good
academic practice.
Referencing of book
While referencing book, first I write the name of the author (surname of the author and then
initial), year of publication, the title of publication, edition, publisher, and place of publication.
Template
Author Surname, Author initial name., Year of publication. Title of publication.edition.
Example
I have found this book on Google with the name ‘The marketing book’ fifth edition by Michael
J. Baker in 2003. Harvard referencing of this book will be
Baker,J.M., 2003.The marketing book. Fifth edition.
Q.8) How would an academic theory of your choice be used to analyze market conditions
for a business?
According to me, porter’s five-force model can be used to analyze market condition for business.
Porter’s five-force model is a framework that helps the organization to analyze its
competitiveness in the market by taking into consideration five elements that are the threat of
substitute, the threat of new entrants, threat of competitors, bargaining power of supplier and
bargaining power of the customer. All these factors help the business to analyze conditions of the
market and how they affect the functioning of business after analyzing all the factors business
formulate strategies to sustain in the market.
Q.9) What do understand by the terms SME and macroeconomics? How would they effect
each other?
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Small and medium-sized enterprise- SME's are those businesses that maintain revenue, assets,
and number of employees below a certain point or level. Each country has its own definition of
small and medium enterprise that is based on different factors. Sometimes industry and company
also take into consideration. SME plays an important role in the growth of the economy.
According to research, there are 99.9% SME in the UK that generates high employment and
revenue that in turn contribute to the UK economy.
Macroeconomics-This refers to the branch of economics that deals with the structure,
performance, and decision-making of economy and study how the economy behaves aggregately
instead of concentrate on the individual market. This included the study of factors such as
unemployment rate, inflation rate, indices of price and GDP and interrelation among various
economic sectors in order to make a better understanding of functions of the economy.
Effect
If the economy of the country does not grow and the number of the small and medium-size
enterprise increases that means competition increases and revenue per capita decreases and this,
in turn, decline the profitability of SME. On the other hand, an increasing number of the
organization results in the competitiveness and this is one of the essential function that is
performed by SME in the economy.
Q. 10) How have customer preferences changed over the past 10 years? Do you feel the
changes are relevant? Why?
Consumer preferences changed in the last 10 years, previously customers had few alternatives of
product and services and can say that there were fewer options available to the customer with
time the products and service provider in the market increases and according to that customer's
preferences changes and now a day customers have a lot of options for one product. Along with a
wide range of substitute products quality also varies and this, in turn, changes the preference of
the consumer. I think changes are relevant because the preference of customer changes as the
alternatives of products and services increases in the market and customers have different types
of quality products and services now a day.
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