11BUS pre-test

Which of the following is a key business function that involves the process of recruitment, training and termination of employees?

• Marketing

• Human Resources

• Operations

• Management

What is a common characteristic of a well-defined business goal?

• Vague and ambiguous

• Measurable and specific

• Flexible and ever-changing

• Secret and undisclosed

What type of leadership involves leaders making decisions without consulting their team members?

• Autocratic leadership

• Democratic leadership

• Transformational leadership

• Laissez-faire leadership

In the context of business, what term is used to describe intangible products such as entertainment, education, or consulting?

• Goods

• Services

• Commodities

• Merchandise

What is the first stage of the business lifecycle?

• Growth

• Maturity

• Seed

• Decline

Which business environment factor refers to forces within a company that affect its ability to serve its customers and achieve its objectives?

• Economic factors

• Internal factors

• Technological factors

• Social factors

What is a SWOT analysis primarily used for in business? (select two)

• Analyzing market share

• Assessing internal strengths and weaknesses

• Identifying opportunities and threats in the external environment

• Setting financial goals

What is the stage in the business lifecycle where a business experiences rapid growth, increased competition, and a need for strategic planning?

• Maturity

• Establishment

• Growth

• Decline

In the context of goods and services, which term refers to the tangible products that businesses produce and sell?

• Commodities

• Merchandise

• Products

• Services

What are the primary components of the PESTLE analysis used to assess the external business environment?

• Political, Economic, Social, Technological, Legal, Environmental

• Production, Employment, Sales, Trade, Leadership, Ethics

• Price, Efficiency, Strategy, Target market, Legislation, Ethics

• Productivity, Evaluation, Stakeholders, Time management, Learning, Experience