Business Management

Is owned by shareholders. It is structured as a separate

legal entity under the operation of law.

• PARTNERSHIP

• CORPORATION

• SOLE PROPRIETORSHIP

• FRANCHISE

Which of the following is a primary function of management that involves setting objectives and determining a course of action for achieving those objectives?

• Planning

• Organizing

• Leading

• Controlling

In business management, what term is used to describe the process of monitoring performance and making necessary changes?

• Planning

• Organizing

• Controlling

• Leading

Which management theory emphasizes the importance of understanding human behaviors, needs, and attitudes in the workplace?

• Classical Management Theory

• Behavioral Management Theory

• Contingency Management Theory

• Systems Management Theory

What is the term for a visual representation of an organization's structure, showing the relationships between different positions?

• Organizational Chart

• Flowchart

• Gantt Chart

• Pie Chart

Which of the following is a characteristic of a sole proprietorship?

• Limited liability

• Owned by shareholders

• Single owner

• Double taxation

What is the primary goal of financial management within a business?

• Maximizing profits

• Minimizing costs

• Ensuring liquidity

• Maximizing shareholder wealth

Which of the following is a key component of strategic management?

• Budgeting

• Forecasting

• SWOT Analysis

• Inventory Management

In the context of business management, what does SWOT stand for?

• Strengths, Weaknesses, Opportunities, Threats

• Strategies, Workflows, Objectives, Tactics

• Systems, Workforce, Operations, Technology

• Sales, Wages, Overheads, Taxes

Which leadership style is characterized by a hands-off approach, allowing team members to make decisions?

• Autocratic

• Democratic

• Laissez-faire

• Transformational