MESO FEUD ELIMINATION ROUND

This French industrialist introduced the concept of departmentalization in management, which focuses on how the management of the organization is structured and how well the individuals therein are organized to accomplish the tasks given to them.

• Max Weber

• Henri Fayol

• Elton Mayo

•  Abraham Maslow

This is a portion of the company's earnings that is set aside to be used for specific purposes.

• Retained Earnings

• Contingency Fund

• Reserves

• Appropriated Profit

These are intangible needs that a consumer is unwilling to express but are present anyway.

• Secret Needs

• Implicit Needs

• Unspoken Needs

• Latent Needs

This is an entrepreneurial mindset that brings about the creation of new ideas. The intention behind this mindset is not to provide answers to existing problems but to ask questions that may lead to discovery and change.

• Creative Thinking

•  Goals Oriented

• Creativity

• Risk-taking

This involves a lifelong journey of developing one's ability to understand and effectively use skills in budgeting, investing, and personal financial management.

• Fiscal Competency

• Money Management

• Financial Literacy

• Wealth Building

Name the Italian mathematician who is credited as  the first person to publish detailed material on the double-entry system of accounting. He is also considered to be the father of modern accounting.

• Leonardo Fibonacci

• Luca Pacioli

• Giovanni Boccaccio

• Josiah Wedgwood

This refers to business financial activities that deal with the cash inflow and outflow related to sale and purchase of assets.

• Treasury Activities

• Cash Flow Management

• Financial Transactions

• Investing Activities

State the principle of Risk-Return Trade-off.

• The higher the risk, the lower the potential return/reward.

• The higher the risk, the higher the potential return/reward.

• The lower the risk, the higher the potential return/reward.

The primary objective of this management planning tool is to help entrepreneurs develop a full awareness of all the factors involved in making a business decision, this tool is used before the entrepreneur commits any business action.

• SWOT Analysis

• Pestle Analysis

• 7Ps of Marketing

• Decision Matrix

This refers to the  quality of information that gives assurance that it is reasonably free of error and bias and provides a true, correct and complete depiction of what it purports to represent.

• Reliability

• Accuracy

• Relevance

• Integrity