MGT028

A business is primarily involved in

• achieving goals

• provision of capital

• provision of assets

• provision of products and service

________ the specific goal or measurable target that you want to achieve in the short term

• Objective

• Purpose

• Mission

• Business

Alex works as a manager at a growing fintech company that develops payment solutions. Over the next year, his focus is on increasing user engagement with the company's payment app by 20%, which is expected to improve the company's market position. Meanwhile, the CEO has set a vision for the company to become the top cashless payment provider in the country within five years.

Based on the case study, which of the following is an example of Alex’s intermediate goal?

• Developing the payment app

• Becoming the top cashless payment provider in five years

• Increasing user engagement by 20% in the next year

• Ensuring app updates are rolled out monthly

Emily runs a large agricultural business. To keep her farm productive, she has invested in a variety of resources. She purchased tractors and irrigation systems to manage the land efficiently. She also buys seeds, fertilizers, and other materials regularly to ensure crops are grown successfully. Additionally, she has set up a local school and hospital to support the community and her workers

Based on the case study, which of the following is an example of social capital in Emily’s business?

• Tractors and irrigation systems

• Seeds and fertilizers

• The local school and hospital

• Workers' training programs

What distinguishes capital from land and labor as factors of production

• Capital is a natural resource, unlike land and labor

• Capital includes government and schools, unlike land and labor

• Capital does not contribute to production, unlike land and labor.

• Capital must be produced before it can be used, unlike land and labor.

All managers have the same level of skills

• True

• False

Mission is the _________ by which a business can fulfill its purpose. It indicates ________a business will achieve its purpose

• way, goals

• reason, when

• means, how

• result, what

Five main functions of business are

• Management, fulfilment, accounting, information system and marketing

• Management, finance, accounting, production system and marketing

• Management, finance, accounting, information system and marketing.

• Customer service, finance, accounting, information system and marketing

A ___________ is a business the co-owned by two or more people. The owners of  

            the   business are called partners. About 10% of all firms are organized as this    

            business entity.

• Partnership

• Private Limited company

• Cooperative

• Corporation

Arrange these statements to shows the correct flow of controlling process

I      Setting Standard for Performance.

     II.     Responding to Deviations

    III.    Measuring Actual Performance

    IV.    Comparing Actual Performance with Standards

 

• A.    I  II, III and IV

• B.    III, I, II and IV

• C.   II, IV,I and III

• D.   I, III,IV and II