NV CTE Standard 10.0 Understanding Management's Role

Which of the following best describes the role of management in a business?

• Ensuring that all employees are paid on time

• Aligning resources and efforts towards achieving business goals

• Designing the company logo

• Organizing company social events

What is the primary purpose of a vision and mission statement in an organization?

• To outline the company's financial goals

• To guide the organization’s strategic direction and decision-making processes

• To list the company's products and services

• To describe the company's history

Which factor is NOT typically considered when analyzing the internal environment during strategic planning?

• Organizational culture

• Technological advancements

• Competitor pricing strategies

• Workforce skills

How does production management contribute to business success?

• By increasing the number of employees

• By planning, organizing, and controlling production activities to optimize resource use

• By reducing the quality of products

• By focusing solely on marketing strategies

Which of the following is a key element of effective quality management?

• Increasing production speed

• Ensuring customer satisfaction

• Reducing employee benefits

• Expanding the product line

What is the main focus of information management in a business?

• Designing new products

• Collecting, storing, and disseminating data to support decision-making

• Hiring new employees

• Organizing company events

Which of the following is a strategy to protect customer transactions?

• Offering discounts

• Using encryption and secure payment gateways

• Increasing advertising budget

• Hiring more customer service representatives

What is a key component of a project plan?

• The company's annual revenue

• Defining project goals and identifying stakeholders

• The number of employees in the company

• The company's marketing strategy

Which tool is commonly used in project management to track progress?

• A company newsletter

• A Gantt chart

• A financial statement

• A customer feedback form

What is the role of business records in decision-making?

• To entertain employees

• To provide relevant data and insights

• To increase the number of products

• To reduce the number of meetings