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WorksheetsUnit 27-2
Total questions: 20
Worksheet time: 40mins
Which of the following individuals or groups represents an internal stakeholder?
Customers
Government
Employees
Creditors
Business goals and objectives may include:
Customer needs/marketing projections
Family or community benefits
Financial projections
All of the above.
A written document containing the nature of the business, goals, marketing plan, financial plan, and organizational plan is called a:
Business plan
Mission statement
Procedure
Standard
What are stakeholders?
Anybody who knows the name of the business
Anybody who takes an interest in a business
Anybody who works for the business
Anybody who buys from the business
Which of the following is NOT an example of a stakeholder
Customers
Shareholders
Local Community
Children
True or False: Financiers are a stakeholder in a business.
True
False
As a stakeholder, what interest would customers have in a business?
Working Conditions
Payment Methods
Increase Profits
Paying Taxes
Owners of stocks are called what?
Board of Directors
President
Shareholders
Franchisor
What are the three major types of ownership?
Franchise, Cooperative, Partnership
Proprietorship, Partnership, Corporation
Corporation, Franchise, Non-Profit
LLC, S-Corp, Corporation
Innovation means:
Changing processes or creating more effective processes, products and ideas for businesses.
Opportunity cost
Clarify Vision, Mission and Values
Working Conditions
When you don't lose but don't make a profit either is called:
loss leader
price war
brand awareness
break even point - no profit no loss
What does the term NPV stand for?
Network price value
Net present value
Nordic product value
None of the above
In terms of operations control system, the forecast which projects a company’s sales is called:
Technological forecast
Associative model
Economic forecast
Demand forecast
Steps to creating a total quality management system include:
Clarify Vision, Mission and Values
Identify Critical Success Factors (CSF)
Identify Key Customer Group and solicit Customer Feedback
All of the above
Revenue Control systems are designed to:
remove the temptation to steal
to make people accountable for all the transactions and all the revenue, flowing through the facility
increases the audit capability
All of the above
Making adjustments to the business operation when required, involves focusing on:
Business legal structure
Physical operations/ Day-to-day operations
Business financial operations
All of the above
Performance management system is:
a tool which is used to communicate the organizational goal to the employees individually
helps allot individual accountability towards that goal
helps tracking of the progress in the achievement of the goals assigned and evaluating their individual performance
All of the above
Most companies implement an annual or biannual performance management process.
True
False
To complete the process, organizations may use a software program designed for performance appraisals whereas, smaller organizations may use a paper-based system.
True
False
An employee management system is designed to simplify the process of record maintenance of employees in an organization. It helps in managing the information of employees for HR functions.
True
False
