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WorksheetsTutorial 2 Intro to Business
Total questions: 15
Worksheet time: 11mins
Strategic planning is done by the ________________.
top management
middle level management
lower level management
subordinates
Decisions taken by an entrepreneur on behalf of his enterprise are known as _______________.
organizational decisions.
personal decision
routine decision
strategic decision
Which industrial sector promotes small-scale businesses and entrepreneurship, and has lower barriers to market entry?
service
manufacturing
distribution
agriculture
A business arrangement where one party allows another party to use a business
name and sell its products or services is known as _________________.
a cooperative.
a franchise.
an owner-manager business.
a limited company.
The ‘MISSION’ of the organization can be described as ___________________
the future picture of the organization
the annual goal to be achieved by the organization.
the method deployed to achieve its aim
the strength of the organisation.
Which management writer popularized the management-by-objectives (MBO) concept?
Tom Peters
Frederick Taylor
Peter Drucker
Abraham Maslow
______________________ is managing profitable customer relationships.
management
control
marketing
human resource
Which theory is a set of essentially positive assumptions about human nature?
Theory X
Theory Y
Theory Z
Equity Theory
The process of directing the behavior of others toward the accomplishment of objectives is _______________________.
controlling
planning
leadership
management
We need to update the business plan because________
environmental factors and internal factors can change the direction of the plan
goals set by the entrepreneurs may be unreasonable
goals may not be measurable
goals may not be specific
______________ refers to the process of creating something new.
innovation
business model
modelling
creative flexibility
The process of gathering information about trends is called _____________________.
need for achievement
tenacity
neuroticism
scanning the environment
Why should an entrepreneur do a feasibility study for starting a new venture?
To see if there are possible barriers to success
To identify possible sources of funds
To estimate the expected sales
To explore potential customers
Pick out the element which is NOT PART of the external macro-environment.
Political and legal element
Social and demography factors.
The skill of the workforce.
The prevailing technical environment
The right to own land, to keep the majority of the profits, the right of freedom of competition and the right to freedom of choice are features of which economic system?
Socialism.
Communism
Marxism.
Capitalism.
