What is the primary goal of business management?
Business Management Practice 3

Flashcard
•
Professional Development
•
10th Grade
•
Hard
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25 questions
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1.
FLASHCARD QUESTION
Front
Back
Maximize profit and ensure sustainability and growth
2.
FLASHCARD QUESTION
Front
Explain the concept of SWOT analysis in business management.
Back
SWOT analysis involves identifying Strengths, Weaknesses, Opportunities, and Threats of a business to make informed decisions and develop strategies for growth and sustainability.
3.
FLASHCARD QUESTION
Front
What are the key functions of management according to Henri Fayol?
Back
Planning, Organizing, Commanding, Coordinating, Controlling
4.
FLASHCARD QUESTION
Front
Discuss the importance of leadership in business management.
Back
Leadership plays a vital role in guiding the team towards achieving goals, maintaining morale, and adapting to changes in the business environment.
5.
FLASHCARD QUESTION
Front
What is the difference between efficiency and effectiveness in management?
Back
Efficiency is doing things right; effectiveness is doing the right things.
6.
FLASHCARD QUESTION
Front
Explain the concept of organizational culture and its impact on business performance.
Back
Organizational culture is the shared values, beliefs, and behaviors within a company that influence employee interactions and decision-making. It can positively impact business performance by fostering employee engagement, innovation, and productivity.
7.
FLASHCARD QUESTION
Front
What are the different types of organizational structures commonly used in business management? Options: Functional, Divisional, Matrix, Flatarchy, Hierarchical, Network, Circular
Back
Functional, Divisional, Matrix, Flatarchy
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