FBLA Business Management Test

What does SWOT analysis stand for?

• Strengths, Weaknesses, Opportunities, Threats

• Sales, Workforce, Operations, Technology

• Strategies, Wins, Objectives, Targets

• Success, Wealth, Ownership, Teamwork

Which of the following is NOT a function of management?

• Planning

• Organizing

• Controlling

• Promoting

Which management style emphasizes decision-making by consensus and teamwork?

• Autocratic

• Laissez-Faire

• Democratic

• Bureaucratic

What is the first step in the decision-making process?

• Implementing the decision

• Identifying the problem

• Evaluating alternatives

• Selecting the best alternative

Which of the following is NOT a characteristic of a successful manager?

• Flexibility

• Micromanaging

• Leadership

• Communication Skills

Which financial statement shows a company's revenues and expenses over a period of time?

• Balance Sheet

• Income Statement

• Cash Flow Statement

• Statement of Retained Earnings

Which type of leadership involves setting clear goals and deadlines, but giving employees the freedom to complete tasks in their own way?

• Transactional

• Transformational

• Situational

• Autocratic

What does ROI stand for in business?

• Return on Investment

• Revenue of Income

• Rate of Interest

• Risk of Investment

Which type of organizational structure groups employees by function or specialty?

• Matrix

• Divisional

• Functional

• Network

What is the process of converting raw materials or components into finished goods called?

• Production

• Distribution

• Marketing

• Procurement