Font size
WorksheetsBMM COMPRE 2 FINALS
Total questions: 100
Worksheet time: 1hrs 6mins
Which of the following statements is true about an entrepreneur?
They work for themselves
They work for others
Which of the following is NOT a characteristic of an entrepreneur?
Risk-taking
Innovative
Confidence
Lazy
Which is a characteristic of a successful entrepreneur? (hint: choose 3 correct answers)
Motivated
Takes very little risk
Passionate
Hard-working
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
This is a type of business that is owned & operated by 1 person.
sole proprietorship
partnership
Corporation
franchise
Many small businesses have an advantage over larger businesses because they are better able to _____
Provide unique services to customers
Market their products
Raise large amounts of financial capital
Mass produce products
Which of the following is not a common reason for the failure of small businesses?
A lack of sufficient start-up money
Shortage of skilled workers
lack of management experience
failure to manage credit offered to customers
A(n) ____ is an invention or creation that is brand new.
Development
Improvement
Innovation
Advancement
Before a business owner completes the business plan, he or she should ask business experts to review the plan.
True
False
What is entrepreneurship?
To develop, organize and manage a business venture with risks in order to make a profit.
The art of making a deal.
An innovating idea.
Being competitive in the global marketplace.
What company did this famous entrepreneur start?
Snapchat
What is the concept of experiential marketing?
Engaging consumers using branded experiences
Conducting market research to understand consumer behavior
Creating online content for social media marketing
Selling products through traditional advertising
Discuss the role of artificial intelligence in personalized marketing strategies.
AI replaces human interaction in marketing strategies.
AI analyzes customer data to create personalized marketing campaigns.
AI has no impact on personalized marketing.
AI only focuses on general marketing trends, not personalized strategies.
The set or the different kinds of products made by a company is called as _____________
product range or product line
product placement
product launch
product lifecycle
How do we get the information about what consumers want or need with regard to a particular brand
market research
market share
market segment
market challenger
Brand Loyalty is defined as ___________
The title given to a product by the company that makes it
Using an existing name on another type of product.
The ideas and beliefs people have about a brand.
The tendency to always buy a particular brand.
Awareness (Brand)
The title given to a product by the company that makes it.
Using an existing name on another type of product.
The ideas and beliefs people have about a brand.
The tendency to always buy a particular brand.
How familiar people are with a brand (or its logo and slogan ).
Product Life cycle is defined as
The set of products made by a company.
The use of a well-known person to advertise products.
When products are used in films or TV programs.
The introduction of a product to the market.
The length of time people continue to buy a product. or the time frame from the introduction of product to its declining stage
Creating a positive brand image takes marketing programs that link associations to the brand in memory. What kind of associations ensure a positive image?
complex associations
weak, favorable, and unique
strong, favorable, and unique
unrealistic associations
Which of the following is/are associated with branding?
influencing how people feel about their emotions that they exude when they think about a brand
influencing what people do
are we getting people to click on our on our ads?
When a manufacturer uses his own name as brand for his products, it is known as manufacturer’s brand.
True
False
The biggest disadvantage of branding is that it involves huge cost because brands are not created overnight and companies have to spend huge sums on advertising and publicity.
True
False
Which logo is NOT shown in the picture?
Nike
Microsoft
Apple
McDonald's
This is where the Competitive advantage comes from providing__________ to customers that competitors cannot imitate.
Price
Marketing channel
Unique value
Place
This analysis provides insight into your competitors strengths, liabilities, goals, and methods.
Competitive analysis
Product analysis
Product development
Market analysis
Product managers usually improve competitiveness by meeting market needs better than the_______?
Market
Competition
Brand
Price
This refer to market analysis in order to create such data collection, research and interviews.
Market plan
Business analytics
Research
Inventory
The following aspect of product is concerned with the ease and efficiency of the product performance.
Functional aspect
Operational aspect
Durability aspect
Aesthetic aspect
Large market size, does not always mean that the market has growth potential.
True
False
What is the term for the process of dividing a total market into subgroups so that each group consists of buyers and users who share similar characteristics, but who are different from those in the other groups?
market subdivision
market targeting
market positioning
market segmentation
In a SWOT analysis, which two elements are part of the internal environment?
strengths and threats
opportunities and threats
strengths and opportunities
weaknesses and strengths
weaknesses and threats
Which component of IMC involves creating and placing paid promotional messages in various media channels such as television, radio, print, outdoor, and digital platforms?
Sales Promotions
Direct Marketing
Public Relations
Advertising
Which component of IMC encompasses activities aimed at managing and enhancing the reputation of an organization or brand?
Public Relations
Digital Marketing
Personal Selling
Sales Promotions
Which component of IMC involves targeting specific individuals or groups with personalized messages and offers?
Sales Promotions
Direct Marketing
Personal Selling
Advertising
What is personal selling particularly effective for?
High-involvement products or services
Low-involvement products or services
Online marketing
Social media marketing
What is the main role of digital marketing in IMC?
Generating leads
Building relationships
Creating a sense of urgency
Engaging with the audience
Restrictions on sources of products and services lays out the franchisee's obligations in a reference table
FALSE
TRUE
The FDD does not contain information essential to potential franchisees about to make a significant investment.
TRUE
FALSE
The IFA is a method of distributing products or services involving a franchisor, who establishes the brand’s trademark or trade name and a business system, and a franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor's name and system.
FALSE
TRUE
A statement that presents the financial position of an entity at a given period.
CASH FLOW STATEMENT
STATEMENT OF FINANCIAL POSITION
STATEMENT CHANGES IN EQUITY
INCOME STATEMENT
This package serves as a reference and resource so your client can contact you in the future. is unique to your company and highlights the best aspects of your organization. It must also show how you can add value to your potential client.
PROMOTIONAL PACKAGE
SALES PACKAGE
RECRUITMENT PACKAGE
OPERATIONS PACKAGE
This package meant to assist the franchisee to properly conduct the performance of the franchise.
PROMOTIONAL PACKAGE
SALES PACKAGE
RECRUITMENT PACKAGE
OPERATIONS PACKAGE
This package is used as part of the franchisor’s response to initial inquiries by the prospective franchisee.
PROMOTIONAL PACKAGE
SALES PACKAGE
RECRUITMENT PACKAGE
OPERATIONS PACKAGE
Present the details of movement in owner’s equity over a period.
CASH FLOW STATEMENT
STATEMENT OF FINANCIAL POSITION
STATEMENT CHANGES IN EQUITY
INCOME STATEMENT
Financial Report that reflects the company’s financial performance.
CASH FLOW STATEMENT
STATEMENT OF FINANCIAL POSITION
STATEMENT CHANGES EQUITY
INCOME STATEMENT
Are written records that convey the business activities and the financial performance of a company
FINANCIAL RATIO
FINANCIAL SYSTEM
FINANCIAL STATEMENT
MARKET VALUE RATIO
1. A franchisee may pay initial development fees to retain the geographic for the reserved geographic area.
MASTER FRANCHISEE
AREA REPRESENTATIVE
FRANCHISE BROKER
AREA DEVELOPER
The dividend yield ratio measures the amount of dividends attributed to shareholders relative to the market value per share.
TRUE
FALSE
The figures on a company's financial statements – the balance sheet, income statement, and cash flow statement – are used to conduct qualitative analysis and evaluate the company's liquidity, debt, productivity, margins, profitability, rates of return, and valuation.
TRUE
FALSE
Financial System are written records that convey the business activities and the financial performance of a company.
TRUE
FALSE
A Marketing Plan is a detail strategy that a company will use to market its product to its customers.
TRUE
FALSE
What are some of the legal issues that may arise in an international franchising contract?
Intellectual property rights, compliance with local laws and regulations, and dispute resolution.
Copyright infringement, trademark protection, and product liability.
Customer privacy, data protection, and taxation.
What are some of the strategies that can help an international franchise succeed?
Enhancing brand awareness, leveraging technology, and expanding into new markets.
Standardizing products and services, avoiding cultural misunderstanding, and avoiding political conflicts.
Adapting to local customs, offering unique products or services, and hiring local talent.
What are some of the challenges that may be faced by an international franchisor and franchisee?
Quality control, intellectual property rights, and market access barriers.
Training and support, marketing, and technological advancements.
Cultural differences, language barriers, legal and financial requirements, and brand recognition.
What are some of the factors that should be considered when selecting and evaluating a potential international franchise partner?
Market share, geographic location, currency exchange rates, and government policies.
Experience, reputation, financial stability, cultural fit, and operational efficiency.
Customer preferences, intellectual property rights, and the size of the franchise system.
What are the typical steps involved in an international franchising contract?
Strategic planning, financial analysis, fundraising, legal compliance, and compliance with regulations.
Research, negotiation, contract drafting and signing, training, inspection, and monitoring.
Startup, hiring, product development, marketing, and expansion.
Who are the parties involved in an international franchising contract?
Franchisor, franchisee, and the government.
Franchisor, franchisee and shareholders.
Suppliers, customers, and employees.
What is an international franchising contract?
A contract between two countries for franchising businesses in both countries.
A contract between two companies for franchising business in one or multiple countries
A contract between two individuals for franchising their businesses in different regions of the same country.
Which of the following best describes a franchise?
A cheap turnkey operation where the owner has a little responsibility
A licensing arrangement between a company and another party licensing the use of the company name, products and processes
A family owned business where the family agrees to pass its management down through the next generation
A small business that has a special agreement with the government to use any of the country's resources.
What can be a disadvantage associated with the use of a franchise?
Proven business and system for franchisor
Lack of flexible decision-making for franchisee
Brand recognition for franchisor
Turnkey operation for franchisee
Which of the following fees are NOT associated with a franchise?
Royalty
Advertising Fee
Franchise Fee
Facility Fee
Forecasting methods should be tailored to the specific needs of the organization rather than using a one-size-fits-all approach. Agree or Disagree?
Agree
Disagree
Refers to the method of managing the resources necessary to deliver a company's products and services.
Operational Control
Operations Management
Operational Management
Which department of an organization is responsible for creating interest or driving the sales of a product or service?
Human Resources
Marketing
Research and Development
Which department of an organization is responsible for managing the financial transactions, including the tracking of income and expenses?
Human Resources
Finance/Accounting
Public Relations
Defined as the total output produced by a single input (resources i.e labor, capital, management)
Production
Productivity
Single Factor Productivity
Multi-Factor Productivity
Refers to the total output produced per unit of an input (single factor).
Productivity
Single-factor Productivity
Multifactor Productivity
What is the term for the process of creating goods and services?
Manufacturing
Production
Operations
What is the term for the long-term goals that an organization aims to achieve?
Strategy
Vision
Objectives
Goals
Which competitive advantage approach involves making an organization's offerings stand out in a way that adds value in the eyes of the customer?
Differentiation
Cost Leadership
Quick Response
Identifies the process of evaluating a company's strengths, weaknesses, opportunities, and threats.
PEST Analysis
SWOT Analysis
Porter's Five Forces
Value Chain Analysis
Which Strategic OM Decision focuses on the physical and intellectual capabilities of employees?
Location Strategy
Layout Strategy
Human Resources and Job Design
Supply Chain Management
What defines the long-term goals and direction of an organization?
Objectives
Vision
Plan
Strategy
What is the term for the main elements that contribute to the success of a business in a competitive environment?
Key Performance Indicators
Key Success Factors
Business Analysis
Market Segmentation
What is the term for the unique strengths and abilities of a company that set it apart from competitors?
Competitive Edge
Core Competencies
Key Success Factors
What does QFD stand for in Quality Management?
Quality Function Deployment
Quality Function Development
Quality Functionality Deployment
Quality Functionality Development
Which technology enables the creation of a virtual prototype before the actual physical model is built?
Modular Design
Computer Aided Design
Computer Aided Manufacturing
Virtual Reality Technology
Refers to the approach that involves producing large quantities of a standardized item
Mass Customization
Product Focus
Process Focus
Repetitive Focus
What is the term for the complete overhaul of a business's processes to achieve significant enhancements in its performance?
Business Process Reengineering
Process Redesign
Computer Aided-Integrated Manufacturing(CIM)
Flexible Manufacturing Systems (FMSs)
The 'lead time' or duration required to complete a process from start to finish.
Process Time
Inventory
Capacity
Layout Decisions
What is the term for the maximum potential output of a system under perfect conditions?
Design Capacity
System Potential
Maximum Output
Optimal Capacity
Identifies the weakest link in a system or process
Delay
Design Capacity
Bottleneck
Theory of Constraints (TOC)
Refers to a concept that identifies the weakest link in a chain of processes within an organization.
Process Mapping
Theory of Constraints
Lean Management
Operational Efficiency
What is the method called that determines the point at which total cost and total revenue are equal?
Cost-Benefit Analysis
Break-Even Analysis
Financial Analysis
Profit Analysis
What is the process of estimating the maximum amount of work that an organization is capable of completing in a given period?
Production Estimation
Capacity Analysis
Workload Forecasting
Capacity Planning
This type of layout is commonly seen in shipyards, construction sites, and large aircrafts
Product Oriented Layout
Fixed Position Layout
Process Oriented Layout
Work Cell Layout
