WorksheetsBUSINESS MANAGEMENT UNIT 3 QUIZ
Total questions: 59
Worksheet time: 30mins
A sole trader is a business (a) by one person.
managed
owned
directed
A & B
A partnership can be owned by (a) people.
two to ten
two
two to twenty
an unlimited number of
What type of business is this?
Public listed company
Private limited company
Mining company
Limited liability company
“If my business goes bankrupt, I’m going to be responsible to fix the situation all on my own!” What business type could this be?
Private limited company
Sole trader
Public listed company
Partnership
Social enterprises (a) aim to make a profit as a (b) .
dividend for shareholders
as a primary objective
subsidiary objective
subsidiary objective
Using resources well to achieve business objectives relates to:
effectiveness
efficiency
increasing market share
fulfilling a market need
Which of the following statements is not necessarily true?
An increase in revenue will cause an increase in profit when expenses stays the same
An increase in expenses will cause a decrease in profit when revenue stays the same
An increase in market share will involve an increase in profit
A decrease in market share can cause a decrease in profit
Fulfilling a social need is:
a possible objective for all business types
a possible objective only for government business enterprises and social enterprises
a possible objective only for social enterprises
an objective that is synonymous to fulfilling a market need
Meeting shareholder expectations is a relevant objective for:
all business types
partnerships
private limited companies
sole traders
Any person or group that has an interest in a business is a
vested interest group
partner
shareholder
stakeholder
Customers have an interest in
good quality goods/services
reasonable prices
efficient customer service
all of the above
Employees have an interest in
good quality goods/services
reasonable wages
tax compliance
none of the above
If employees want greater pay, but management want a reduction in business expenses, the best resolution would be:
increasing employee pay whilst finding other ways of reducing the business’ rent expense
dismissing the employees complaining about their pay
agreeing to increase employee pay owing to their complaints
decreasing employee pay whilst finding other ways of increasing business revenue
The following is not a management style:
Autocratic
Communication
Consultative
Participative
“Okay everyone, I’m going overseas for a year. Call me if there’s any issues with your product designs. Otherwise, over to you!” Which management style is exhibited by the above manager?
Persuasive
Participative
Consultative
Laissez faire
“We’re going to have casual employees arriving at 8:00am during January, as it’s a busy time. It’s going to make things much easier with making sure we get through all of the orders.” Which management style is exhibited by the above manager?
Persuasive
Participative
Consultative
Laissez faire
Employees at a clothes production facility lack experience with using the new machinery. Meanwhile, there are important deadlines coming up in regards to large customer orders. Which management style would suit this situation?
Persuasive
Participative
Autocratic
Laissez faire
Assigning tasks to different employees involves the skill of:
Decision-making
Communication
Delegation
Interpersonal skills
____________ involves analyzing the different options, and _______________.
Decision making, putting all options into practice
Decision making, selecting the best option
Communication, selecting the best option
Communication, putting all options into practice
Which of the following is an example of real corporate culture?
How employees dress in the workplace
Information in an employee handbook
Information on the business’ website
Posters up in the workplace
The area of a business that focuses on managing employees is known as:
Human Resources
Employee Management
Operations
Technology Support
Which of the following strategies would be relevant to Human Resources?
Auditing the business’ finances to ensure tax compliance
More targeted advertisements highlighting product features
Providing incentives to high-achieving employees
All of the above
Which of the following shows the correct order in Maslow’s Hierarchy of Needs Theory?
Safety needs, physiological needs, social needs, self-esteem needs, self-actualization needs
Physiological needs, safety needs, social needs, self-esteem needs, self-actualization needs
Physiological needs, safety needs, self-esteem needs, social needs, self-actualization needs
Physiological needs, safety needs, social needs, self-actualization needs, self-esteem needs
John is stressed that his employment contract will not be renewed at the end of the year. Which stage in Maslow’s Hierarchy is John presently in?
Safety
Physiological
Self-esteem
Social
Arnold is rather content with his supervisor position, as he is paid well, and very respected by his colleagues. However, he feels bored and would like to achieve more. Which stage in Maslow’s Hierarchy is Arnold presently in?
Safety
Self-actualization
Self-esteem
Social
Providing opportunities for employees to work collaboratively in the workplace would meet:
Safety needs
Self-actualization needs
Self-esteem needs
Social needs
Which of the following strategies would be best equipped to meet self-esteem needs?
Fixing faulty electrical equipment
Employee of the month awards
Monthly bowling nights
Pay increases
The drive to acquire links to obtaining
wealth
importance
only wealth
A & B
If an employee decides to work more productively out of fear of losing his/her job, this involves their drive to __________ being activated.
acquire
bond
comprehend
defend
The components of Locke & Latham’s Goal Setting Theory are the following:
Clarity, challenge, task complexity, commitment, feedback
Clarity, challenge, task complexity, time-bound, feedback
Specific, measurable, achievable, realistic, time-bound
Specific, measurable, achievable, commitment, time-bound
An employee, without consultation, was given the objective of selling more cars. Which components of Locke & Latham’s Goal Setting Theory are missing in this situation?
A. Clarity, challenge
B. Clarity, feedback
C. Task complexity, commitment
D. Clarity, commitment
“For those who sell 10% above their quota, there will be a bonus given at the end of the year”. What motivation strategy does this connect to?
Career advancement
Share plans
Performance related pay
Pay increases
An employee is given a formal warning about their performance levels not being satisfactory. What motivation strategy does this relate to?
Career advancement
Sanction strategies
Support strategies
Termination
At Willie's Wraps, management want to increase the quality of the wraps made for customers. Employees have been put in groups to monitor each other's processes in making the wraps, so ideas can then be shared across the business.
Management by objectives
Self-evaluation
Appraisals
Employee observation
“I can’t believe I’m getting dismissed! It’s horrible how new technology is taking over!” The underlined word in the above statement is inaccurate. What word should be there instead?
sanctioned
retired
redundant
sacked
Which of the following is an entitlement for someone who is resigning?
Assistance in updating their resume
Financial advice
A farewell party
Being paid out annual/long service leave
In an industrial dispute, (a) will assist employees and (b) will assist employers.
employee associations, employer associations
employee associations, unions
unions, employer associations
employee unions, employer unions
Attracting high performing employees would be best achieved via
awards
individual contracts
enterprise agreements
a combination of the above
In a situation where a dispute cannot be negotiated successfully, (a) would be the best solution.
dismissals
conciliation
mediation
arbitration
Which of the following strategies would be conducted by Operations?
Employee training
Monitoring inventory levels
Producing profit/loss statements
None of the above
Which label is missing from the diagram below?
Processes
Production
Just-In-Time
Efficiency
Which of the following will tend to be true for a service business?
Outputs are tangible
Outputs are uniform
There is some overlap between process and output
There is less customer involvement in the process
Operations at XYZ Manufacturing have three large-scale machines used to produce cabinets. At the end of the financial year, management were happy to announce that a 10% increase in market share was achieved, exceeding expectations of a 5% increase. This is despite how one machine was not even used. Based on the information above, XYZ Manufacturing
is efficient, but not effective
is not efficient, but effective
is both efficient and effective
is neither efficient nor effective
Which of the following is a materials strategy?
Quality control
Global sourcing of inputs
Computer aided design
Forecasting
Which of the following is not a component of lean management, based on the study design?
Recycle
Pull
One-piece flow
Takt
“Our business’ factory now can downsize, owing to less space needed.” Which strategy did this business most likely implement?
Forecasting
Just-In-Time
Materials requirement planning
Master production schedule
Pepito’s Popcorn is now officially certified by Eat Healthy to have no additives in its popcorn. What quality strategy has been successfully implemented in this situation?
Quality control
Total quality management
Quality assurance
Corporate social responsibility
A similarity between computer aided design and computer aided manufacturing is that
both are global considerations
both can help decrease labor costs
both generate the final output
both require the same large-scale equipment
Which of the following is not a component of total quality management?
Employee empowerment
Continuous improvement
Continuous inspection
Customer focus
A manufacturing facility estimated that five hours would be needed to meet the day’s orders. It took the facility eight hours to meet the day’s orders instead. Which lean management strategy is not being utilized properly?
Zero defect
Takt
Pull
One-piece flow
Which of the following is an example of operations being done in a socially responsible way?
Paying employees above the minimum wage
Following government regulations about how to discard toxic byproducts
Implementing solar panels to generate power for the manufacturing equipment
Ensuring that outputs are consistent with government safety standards
For a service business providing financial advice, what is the best description for its output?
Office calculators
Recording parameters into software to predict a client’s future net worth
A client being in a state of knowledge about how to manage their finances
Advising a client about how to best manage their finances
For a service business providing financial advice, what is the best description of an input?
Office calculators
Recording parameters into software to predict a client’s future net worth
A client being in a state of knowledge about how to manage their finances
Advising a client about how to best manage their finances
The following diagram is an example of which global consideration?
Global outsourcing
Global sourcing of inputs
Overseas manufacture
Overseas sourcing of outputs
Which of the following global considerations involves the domestic headquarters and overseas operation being owned by the same business?
Global outsourcing
Global sourcing of inputs
Overseas manufacture
Overseas sourcing of outputs
Incorporating global considerations is likely to cause _______________ and _______________.
increased labor costs, lower local unemployment
increased labor costs, higher local unemployment
decreased labor costs, lower local unemployment
decreased labor costs, higher local unemployment
As a consequence of high efficiency, a business is
guaranteed to be effective
more likely to be effective
less likely to be effective
guaranteed to not be effective
The Just-In-Time strategy involves ordering inputs
at the right time
in the right amount
so there will be no need for storage
all of the above
The materials requirement planning strategy involves
ensuring there is a list of materials needed to generate an output
ensuring there is a blueprint about how to generate the output
ensuring there is a blueprint about when the output needs to be generated by
all of the above
