Worksheetsed
Total questions: 65
Worksheet time: 1hrs 5mins
Choose 3 answers that are TRUE about the MISSION
Refocusing the attention of investors and the public.
Reflects the firm’s self-concept.
Satisfy customer needs.
Embodies the business philosophy.
Used only by leaders.
Who is the current leadership of Apple?
The management philosophy of the business will result in a favorable public image and will provide financial and psychological rewards for those who are willing to invest their labor and money in helping the business to succeed.
TRUE
FALSE
What is the objective of the strategy based on? (select 2 answer)
Company's human resource
Company's mission
Corporate structure
Company's vision
Company philosophy
A vision statement presents the firm's __________ that focuses the energies and resources of the company on achieving a desirable future.
goals
orientation
tactic
strategic intent
Choose the answer that are TRUE about Apple's vision statement.
Making great services
Complexity in place of simplicity
Improvement of lives and future social prosperity
Focusing on technology
Focus on a few key projects
Choose 3 answer that are NOT TRUE
Vision is a short-term objective.
There are 9 components of vision statement.
Mission Statement reflects the firm's self-concept.
Vision gives detail on present goals.
Mission is a short-term objective.
"a short term objective, probably for small business just starting out, or when a new firm enters the market or at a time of crisis."
"try to make the most profit possible – most likely to be the aim of the owners and shareholders."
"organisations like the Co-op or the Body Shop have objectives which are based on their beliefs on how one should treat the environment and people who are less fortunate."
Organize the world's information and make it universally accessible and useful
Own all the data in the world
Be the best search engine company in the world
Compile all of the data and information that the world has to offer
A mission statement contains an organisation's
deadlines and targets
identity and purpose
operational plan
diversity policy
A vision statement focuses on tomorrow and what an organisation wants to ultimately become.
True
False
What is the purpose of organisational aims and objectives?
To prevent takeovers
To provide direction to staff
To set staff limits of authority
To give a brief overview of ideas
When it comes to developing your organisation's mission + vision:
Choose one from below.
Your mission comes first, and your vision comes second
Your vision comes first and your mission comes second
Who in an organisation has responsibility for working towards the vision / mission / goals?
Employer
Employees
Everyone who works for the organisation
Suppliers
Vision Statement: In your opinion, what word is the most important?
Partnership
Equitable
Inclusive
Safe
Every Learner
Getting detailed information about products and services that already exists in the market is considered as market research.
True
False
After proper evaluation of ideas, an entrepreneur comes to know ,what is important and what is not.
True
False
The type of Plant and machinery to be taken in a business is mentioned in a marketing plan.
True
False
Marketing feasibility includes the raw material and transportation to be needed in the business
True
False
Breakeven analysis is mentioned in this type of business plan (a)
Which technique of generating business ideas involves the screening of large amount of information?
Brainstorming
Focus Groups
Environment Scanning
Market Research
Which ability involves combination of ideas in a unique way?
Innovation
Motivation
Creativity
Planning
The importance of a feasibility study is judged in terms of-
Idea viability
Growth
Sustainability
Strategic Planning
Which of the following type of plan helps in communicating with the investors for procurement of finance?
Organizational Plan
Marketing Plan
Business Plan
Production Plan
Which micro factor is depicted through the given picture?
Producer
Customer
Retailer
Agent
Examples of e-markets include:
Hair dressing
Retailing
Dental services
Banking
Common features of e-commerce include:
Global reach
Product development
24/7 accessibility
Economies of scale
Advantages of e-commerce include:
There is no guarantee of product quality
More reach to customers, there is no theoretical geographic limitations
Mechanical failures can cause unpredictable effects on the total processes.
Easy to start and manage a business
Disadvantages of e-commerce include:
No need of physical company set-ups
Customers can easily select products from different providers without moving around physically
Any one, good or bad, can easily start a business. And there are many bad sites which eat up customers’ money
There are many hackers who look for opportunities, and thus an ecommerce site, service, payment gateways, all are always prone to attack
Which products may not be suitable for e-commerce?
Automobiles
Diamonds
Toys
Clothes
e-commerce business conducted directly for the end-user
B2B
B2C
C2C
e-commerce conducted directly for business customers
B2B
B2C
C2C
Businesses that predominantly operate online without physical stores
E-tailers
Retailers
Distributors
Agents
The idea that marketers only have a short time span to gain and hold the interest of the customers
Viral marketing
Elevator pitch
Word-of-mouth
Spam time
Providers of funds and users of funds are the two parties that can be found in the financial market.
TRUE
FALSE
Anna is planning to sell her Colcola Corp. shares that she bought two years ago to Adam. The transaction that will happen between Anna and Adam takes place at_______
primary market
secondary market
public offerings
money market
________ works alone, while _________ are part of a company.
Business angels, venture capitalist
Start-ups, business angels
Venture capitalist, business angels
Business angels, start-ups
Which of the following is an advantage of venture capital financing?
The entrepreneurs have to give up an equity interest in the firm to the venture capitalist.
The entrepreneurs have to be more accountable by providing business forecast to venture capitalist.
Venture capitalist provide non-financial services that can add value to the business.
Accessing venture capital is difficult.
In contrast to an entrepreneur, a venture capitalist is a professional money manager who makes risk investments from a ..... of capital to obtain a high rate of return.
pool
portfolio
stock
stream
venture capital is not just about money
it also provides high returns on investment
it ensures bank secrecy
it provides companies and entrepreneurs with technical and managerial advice
it allows the venture capitalist to have a say in the company decisions as investors get equity in the company
In a venture capital deal, ________________ownership chunks of a company are created and sold to ____________________ investors
very small / many
large / a few
substantial / all
small / most of the
Why do firms need VC (venture capital)?
because they're in their early stage and need cash to invest
because they are too small or risky for banks to give them loans
because they do not have access to capital markets
because most start up founders don't know how to approach traditional banks
VC capitalists can earn
a portion of the firm's equity
high returns
small returns but influence on the company direction
high returns, a chunk of the company's equity as well as influence on the company decisions
seed funding
is needed to develop a business idea so that it can be presented effectively to venture capital firms that have large amounts of money to invest.
allows some VC firms who like the business idea to get a stake in the new venture in return for investing in its development.
allow entrepreneurs to make an IPO
cover basic costs such as a business plan and initial operating expenses.
is often provided by the founders' personal assets or friends and family
A tiny unit is defined as an industrial or business
enterprise whose investment in plant
and machinery is not more than .
(a) 35 lakhs
(b) 50 lakhs
(c ) 30 lakhs
(d) 25 lakhs
------- is defined as one in which the investment in fixed assets of plant and machinery
dies not exceed rs. 1 crore.
(a) small scale industry.
(b) limited company
(c ) large scale industry
(d) none of these.
Full form of MSME is
a. Mini, small and Micro Enterprises
b. Micro, Small and Medium Enterprises
c. micro, Small and Macro enterprises
d. Micro, small and Mini Enterprises
IPR stands for
a. intelligent person rights
b. intellectual Property Rights
c. internal Property rights
d. International Property Rights
Excess demand is
Where demand is greater than supply.
Where supply is greater than demand.
Where there is a shortage
Where there is a surplus
Which of the following describe the function (the role of) prices in a market?
Incentive function, When changes in price encourage buyers and sellers to change the quantity they buy and sell. A rise in price encourages buyers to purchase less and sellers to produce more; and vice versa.
Rationing function, When changes in price lead to more or less being produced, so increasing or limiting the quantity demanded by buyers.
Signalling function, When changes in price give information to buyers and sellers which influence their decisions to buy and sell.
Marketing and Accounting come under which entrepreneurial function ?
Entrepreneurial function
Commercial function
Promotional function
Managerial function
