Managing Businesses and Stakeholders Quiz

Which type of business is owned and operated by a single individual, and is the simplest form of business structure?

• Partnership

• Sole trader

• Private limited company

• Public listed company

What is a primary objective for most businesses aiming to satisfy their shareholders?

• To fulfil a social need

• To increase market share

• To make a profit

• To improve efficiency

Which stakeholder is primarily concerned with the ethical practices and social responsibility of a business?

• Owners

• Managers

• Employees

• General community

What management style involves the manager making decisions alone and expecting subordinates to follow instructions without input?

• Consultative

• Participative

• Autocratic

• Laissez-faire

Which management skill involves the ability to inspire and motivate employees towards achieving business objectives?

• Delegation

• Leadership

• Planning

• Communication

What is the term for the shared values, beliefs, and behaviours that determine how a company's employees interact and handle business transactions?

• Corporate culture

• Management style

• Stakeholder interests

• Business objectives

Which type of business is characterised by having its shares publicly traded on the stock exchange?

• Sole trader

• Partnership

• Public listed company

• Social enterprise

What is a potential conflict between stakeholders in a business?

• Employees wanting higher wages while owners want to reduce costs

• Managers seeking to improve efficiency

• Customers demanding better service

• Suppliers providing quality materials

Which management style is most appropriate when employees are highly skilled and experienced?

• Autocratic

• Persuasive

• Consultative

• Laissez-faire

What is the primary focus of a social enterprise?

• To maximise shareholder returns

• To fulfil a market need

• To fulfil a social need

• To increase market share