Basic Terms & Concepts- Business

Which of the following best defines the term 'stakeholder'?

• Anyone with shares in a company

• Anyone with an interest in an organization

• Anyone who owns a business

• None of the above

Which among is a stakeholder?

• Staff

• Customers

• Owners

• All the above

How would you describe a democratic management style?

• A manager who likes to make all the decisions.

• A manager who involves employees in decision making and aims to benefit both the business and personnel as a result of decisions that are made.

• A manager who sets the goals of the business and communicates 'downwards' to employees.

• None of the above

______________skills refer to the manager's ability to prioritize work, to work efficiently, and to delegate appropriately.

• Technical skills

• Interpersonal skills

• Decision making skills

• Time management skills

Motivating members of the organization to work in the best interests of the organization is defined as:

• Organising

• Decision making

• Controlling

• Leading

Recruitment can be best described as ____________________________

• Attraction of potential employees to an organisation

• Invitation of potential employees to an organisation

• Selection of potential employees to an organisation

• Scrutiny of potential employees to an organisation

What is the difference between Logistics and supply chain?

What do you mean by fiscal year?

What do you mean by the following?

a) Trademark

b) Patent

c) Copyright

Have you heard about the term 'Gig economy'?

• Yes

• No