Business Concepts Quiz

What is a dividend?

• The money spent on employee wages

• The portion of a company’s earnings paid to shareholders

• The revenue generated from sales

• The tax paid by corporations

What does the stakeholder concept refer to?

• The idea that only shareholders matter in a business

• The responsibility of businesses to all groups affected by their actions

• The importance of maximizing profits

• The legal obligations of a corporation

Which of the following best defines corporate social responsibility (CSR)?

• A company’s commitment to profitability

• A company’s ethical and social obligations to society

• A method of increasing sales

• A tool to reduce costs

What is a joint venture?

• A business formed by combining two or more companies permanently

• A temporary partnership between companies for a specific project

• A single-owner business

• A method to avoid paying taxes

Which sector involves extracting natural resources?

• Primary sector

• Secondary sector

• Tertiary sector

• Quaternary sector

What is intrapreneurship?

• Starting a business by oneself

• Acting like an entrepreneur within an existing organization

• Hiring new employees for innovation

• Outsourcing managerial decisions

What is backward vertical integration?

• Merging with a company at a later stage of the supply chain

• Merging with a supplier

• Expanding business operations within the same industry

• Selling a part of the company to another business

What does a business plan include?

• A detailed report on the past performance of the company

• A written document outlining the business strategy and future goals

• The employment contracts of all employees

• A list of all the company's shareholders

What does workforce planning involve?

• Managing employee turnover

• Forecasting and planning an organization's future staffing needs

• Calculating employee salaries

• Managing industrial relations

Which of the following is a type of indirect industrial action?

• Strike

• Work-to-rule

• Picketing

• Lockout