This quiz works best with JavaScript enabled. Home > Economy > Business > Business Management – Quiz 54 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Management Quiz 54 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Lean Management is? A) A systemic process for eliminating waste in the manufacturing system. B) A systemic process for clearing waste in a range of systems. C) A range of processes for eliminating waste in manufacturing. D) Eliminating waste in the manufacturing system. Show Answer Correct Answer: A) A systemic process for eliminating waste in the manufacturing system. 2. When a hurricane interrupted a business's new product development, the project team had a plan for getting things back on track. This is an example of how project management A) Helps businesses evaluate feasibility. B) Allows employees to adapt to risk. C) Requires a product champion. D) Needs strong quality controls. Show Answer Correct Answer: B) Allows employees to adapt to risk. 3. ..... is a term that is used to refer to the people who are in charge of running a business. A) Management. B) Principals. C) Officers. D) Stakeholders. Show Answer Correct Answer: A) Management. 4. Why is leadership an important aspect of directing? A) Leadership and directing include the same activities and traits. B) Employees need less supervision when managers demonstrate leadership. C) Employees follow direction when they respect managers as leaders. D) Leadership improves managers' ability to provide clear instructions. Show Answer Correct Answer: C) Employees follow direction when they respect managers as leaders. 5. Money needed to pay for the current operating activities of a business A) Start-up financing. B) Venture capital. C) Short-term financing. D) Long-term financing. Show Answer Correct Answer: C) Short-term financing. 6. An effective mentor is a person who ..... A) Has mastered the skills and experience an employee needs. B) Is a good friend of the employee. C) Is external to the employee's company. D) Has been given salary raises in the past. Show Answer Correct Answer: A) Has mastered the skills and experience an employee needs. 7. Providing the conditions that stimulate followers to act in a committed, concerned and involved way in doing their work. A) Effectiveness. B) Emotional Intelligence (EI). C) Efficiency. D) Empowerment. Show Answer Correct Answer: D) Empowerment. 8. ..... refers to the general feeling in a business shaped by the psychological states and attitudes of the people who work there. A) Workplace Situation. B) Workplace Climate. C) Work Environment. D) Company Image. Show Answer Correct Answer: B) Workplace Climate. 9. Describes the work an individual or group of individuals is supposed to perform A) Job Design. B) Schedule. C) Job Description. D) Operations Managers. Show Answer Correct Answer: A) Job Design. 10. Assume that the current currency exchange rate for US Dollars and Euros is 1 US Dollar = .736 Euros. Brad is making a purchase in Germany that cost 25 Euros. How much will this cose him in US Dollars? A) $ 18.40. B) $ 25.74. C) $ 33.97. D) $ 42.50. Show Answer Correct Answer: A) $ 18.40. 11. Which of the following should not be an objective of a company's collection procedure? A) Converting credit customers to cash customers. B) Collecting the amount due. C) Maintaining the goodwill of customers. D) Resolving collection problems as quickly as possible. Show Answer Correct Answer: A) Converting credit customers to cash customers. 12. The use of flexible computer-aided production systems to produce items to meet individual customer's requirements at mass-production cost levels A) Mass customisation. B) Flow production. C) Batch production. D) Job production. Show Answer Correct Answer: A) Mass customisation. 13. The degree to which workers are free from the direct influence of a supervisor and can exercise discretion in scheduling their work and in deciding how it will be done. A) Discretionary Control. B) Autonomy. C) Span of Control. D) Centralized Authority. Show Answer Correct Answer: B) Autonomy. 14. Barriers that can inhibit successful planning are A) Company priorities and resources. B) Company ownership. C) Company mentality. D) Community support. Show Answer Correct Answer: A) Company priorities and resources. 15. Every subordinate should receive orders from and be accountable to only one superior is ..... A) Unity of direction. B) Unity of command. C) Centralization. D) Scalar chain. Show Answer Correct Answer: B) Unity of command. 16. The management function of guiding employee actions toward achievement of a company's goals is A) Controlling. B) Organizing. C) Leading. D) Planning. Show Answer Correct Answer: C) Leading. 17. Rapid industrialization during the late 1800's contributed to A) Decline in the membership in labor unions. B) A reduction in government regulation of railroads. C) An increase in immigration to the United States. D) A rise in the number of family farms. Show Answer Correct Answer: C) An increase in immigration to the United States. 18. What is NOT an example of a processor? A) Wholesaler. B) Oil refinery. C) Textile Mill. D) Cotton Mill. Show Answer Correct Answer: A) Wholesaler. 19. Exists when the relationship between the human resource department and the line managers is one of providing advice and counsel and when the authority for deciding what to do is shared. A) Control Role. B) Service Role. C) Advisory (or Counseling) Role. D) Change Agent Role. Show Answer Correct Answer: C) Advisory (or Counseling) Role. 20. In the business world, HR stands for: A) Home Run. B) Hero Rule. C) Hunk Report. D) Human Resources. Show Answer Correct Answer: D) Human Resources. ← PreviousNext →Related QuizzesEconomy QuizzesBusiness Management Quiz 1Business Management Quiz 2Business Management Quiz 3Business Management Quiz 4Business Management Quiz 5Business Management Quiz 6Business Management Quiz 7Business Management Quiz 8Business Management Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books