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Worksheets

VCE BM U3 AOS1 Vocabulary

Total questions: 58

Worksheet time: 3hrs 54mins

Name
Class
Date
1.

a manager making decisions and directing employees without any input from them

a)

Autocratic management style

b)

Consultative management style

c)

Persuasive management style

d)

Laissez-faire management style

2.

goals a business intends to achieve

a)

Business objectives

b)

Decision-making

c)

Rituals

d)

Policies

3.

one person having concentrated authority to make decisions

a)

Centralised control

b)

Sole trader

c)

Stakeholders

d)

Proprietor

4.

a manager's ability to clearly exchange information with employees and relevant stakeholders

a)

Communicating

b)

Consultative management style

c)

Policies

d)

Vision

5.

the direction of the transfer of information between managers and employees

a)

Communication flow

b)

Corporate culture

c)

Franchise

d)

Mission statement

6.

the portion of profits a business pays to the government for public services such as the police, courts and fire services

a)

Company tax

b)

External stakeholders

c)

Shares

d)

Dividends

7.

the terms that an employee and employer agree to including job responsibilities, hours of work, dress code and leave entitlements

a)

Conditions

b)

Award

c)

Decision-making

d)

Real corporate culture

8.

a manager seeking input from employees on business decisions but making the final decision themselves

a)

Consultative management style

b)

Participative management style

c)

Autocratic management style

d)

Laissez-faire management style

9.

the shared values and behaviours practised by managers and employees within a business

a)

Corporate culture

b)

Official corporate culture

c)

Business objectives

d)

Rituals

10.

the ethical conduct of a business beyond legal obligations to improve the social, economic and environmental outcomes of stakeholders

a)

Corporate social responsibility

b)

Official corporate culture

c)

Mission statement

d)

Vested interest

11.

the sums of money a business owes to banks, suppliers or even customers

a)

Debts

b)

Dividends

c)

Unlimited liability

d)

Wages

12.

a manager's ability to determine a suitable course of action for the business from a range of alternatives

a)

Decision-making

b)

Human resources as an area of management

c)

Vested interest

d)

Communicating

13.

the manager of a particular area of a company often selected for their expertise

a)

Director

b)

Partnership

c)

Proprietor

d)

Stakeholders

14.

regular sums of money paid out to shareholders from a business’s profit

a)

Dividends

b)

Company tax

c)

Expenses

d)

Wages

15.

the alignment to current moral standards

a)

Ethically

b)

Real corporate culture

c)

Social enterprise

d)

Vested interest

16.

the costs of running a business

a)

Expenses

b)

Company tax

c)

Debts

d)

Revenue

17.

groups that are outside a business but are concerned or affected by its activities including customers, suppliers and the general community

a)

External stakeholders

b)

Internal stakeholders

c)

Public listed company

d)

Franchise

18.

handles the monetary requirements of a business

a)

Finance as an area of management

b)

Company tax

c)

Incorporated

d)

Sales and marketing as an area of management

19.

a business model that licenses the business’s name, product and procedures to people outside the business

a)

Franchise

b)

Government business enterprise

c)

Official corporate culture

d)

Public listed company

20.

individuals who become business owners by purchasing the right to trade using another established business’s brand, products and processes

a)

Franchisees

b)

Business mentor

c)

Entrepreneur

d)

Manager

21.

a profit driven business that is owned by but managed separately from the government

a)

Government business enterprise

b)

Internal stakeholders

c)

Public listed company

d)

Social enterprise

22.

establishes and manages the relationship the business has with its employees, including their hiring, training and termination

a)

Human resources as an area of management

b)

Finance as an area of management

c)

Operations as an area of management

d)

Technology support as an area of management

23.

a business being established as a separate legal entity from the owners

a)

Incorporated

b)

Unincorporated

c)

Public listed company

d)

Unlimited liability

24.

groups who have a direct financial share or are employed by the business including owners, board of directors, investors, shareholders and employees

a)

Internal stakeholders

b)

External stakeholders

c)

Dividends

d)

Proprietor

25.

a manager's ability to interact positively with employees to create and maintain professional relationships

a)

Interpersonal

b)

Communicating

c)

Laissez-faire management style

d)

Vision

26.

a manager communicating business objectives to employees and allowing them to make decisions independently

a)

Laissez-faire management style

b)

Participative management style

c)

Persuasive management style

d)

Consultative management style

27.

a manager's ability to motivate employees to work towards business objectives

a)

Leading

b)

Planning

c)

Communicating

d)

Decision-making

28.

the protection of a shareholder’s personal assets against any business debt

a)

Limited liability

b)

Unlimited liability

c)

Unincorporated

d)

Sole trader

29.

a business’s percentage of total sales within an industry

a)

Market share

b)

Franchise

c)

Profits

d)

Revenue

30.

a formal summary of the core focus of a business apart from profit

a)

Mission statement

b)

Planning

c)

Vision

d)

Rituals

31.

the shared values and beliefs desired by a business and expressed through elements such as formal rules and symbols

a)

Official corporate culture

b)

Real corporate culture

c)

Corporate culture

d)

Vision statement

32.

produces the goods or services that a business sells to customers

a)

Operations as an area of management

b)

Human resources as an area of management

c)

Technology support as an area of management

d)

Sales and marketing as an area of management

33.

a manager communicating and discussing information with employees in order to make decisions together

a)

Participative management style

b)

Persuasive management style

c)

Consultative management style

d)

Autocratic management style

34.

a type of business owned by two to 20 owners

a)

Partnership

b)

Sole trader

c)

Private limited company

d)

Public listed company

35.

a manager making decisions and communicating the reasons for those decisions to employees without their input

a)

Persuasive management style

b)

Consultative management style

c)

Participative management style

d)

Laissez-faire management style

36.

the portion of an individual’s earnings that is paid to a government for public services such as roads, schools and hospitals

a)

Personal income tax

b)

Company tax

c)

Revenue

d)

Profit

37.

a manager's ability to establish objectives and strategies to achieve them

a)

Planning

b)

Communicating

c)

Decision-making

d)

Leading

38.

an incorporated business with at least one director and up to 50 selected shareholders

a)

Private limited company

b)

Public listed company

c)

Partnership

d)

Social enterprise

39.

the formal and written rules of a business

a)

Policies

b)

Rituals

c)

Real corporate culture

d)

Vision statement

40.

the amount or money remaining after all expenses are deducted from a business’s income

a)

Profits

b)

Revenue

c)

Company tax

d)

Dividends

41.

the owner of a business

a)

Proprietor

b)

Stakeholder

c)

Shares

d)

Director

42.

an incorporated business that can sell shares in an open market to an unlimited number of shareholders

a)

Public listed company

b)

Private limited company

c)

Partnership

d)

Social enterprise

43.

shared values and behaviours that are actually practised by employees and managers and expressed through informal rules and habits

a)

Real corporate culture

b)

Official corporate culture

c)

Ethically

d)

Corporate social responsibility

44.

the amount of money a business makes from its normal business activities

a)

Revenue

b)

Profits

c)

Expenses

d)

Company tax

45.

practices within a business that occur regularly

a)

Rituals

b)

Vision

c)

Mission

d)

Ethically

46.

promotes and sells the business's goods or services to customers

a)

Sales and marketing as an area of management

b)

Technology support as an area of management

c)

Operations as an area of management

d)

Human resources as an area of management

47.

the value of a single share of a company that it can be bought or sold for

a)

Share price

b)

Dividends

c)

Incorporated

d)

Public listed company

48.

the units of ownership of a business that it sells to raise funds

a)

Shares

b)

Stakeholders

c)

Wages

d)

Debts

49.

a business that aims to make a profit and improve the community or environment

a)

Social enterprise

b)

Government business enterprise

c)

Public listed company

d)

Corporate social responsibility

50.

a business structure owned and operated by a single person

a)

Sole trader

b)

Partnership

c)

Private limited company

d)

Franchise

51.

individuals or groups that have a vested interest in the performance and activities of a business, for reasons including but not limited to partly owning a business due to purchased company shares

a)

Stakeholders

b)

External stakeholders

c)

Vested interest

d)

Operations as an area of management

52.

installs automated equipment, machinery and devices within the business and provides assistance to employees on the use of these technologies

a)

Technology support as an area of management

b)

Human resources as an area of management

c)

Operations as an area of management

d)

Sales and marketing as an area of management

53.

an owner and business being viewed as a single legal entity

a)

Unincorporated

b)

Incorporated

c)

Limited liability

d)

Sole trader

54.

an owner has complete responsibility for a business' debts

a)

Unlimited liability

b)

Limited liability

c)

Public listed company

d)

Incorporated

55.

a strong connection to a business that can lead to personal gain or benefit

a)

Vested interest

b)

Stakeholders

c)

Planning

d)

Decision-making

56.

the aspirational purpose of a business for owners, managers and employees

a)

Vision

b)

Corporate social responsibility

c)

Corporate culture

d)

Social enterprise

57.

a formal summary of a business’s longer term objective

a)

Vision statement

b)

Corporate social responsibility

c)

Ethically

d)

Planning

58.

regular payments of money earned by employees for work or services completed, typically paid on a weekly or monthly basis

a)

Wages

b)

Expenses

c)

Dividends

d)

Revenue