This quiz works best with JavaScript enabled. Home > General Knowledge > Economy > Business > Business Management – Quiz 12 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Business Management Quiz 12 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Reviewing the week's purchases (inventory list) for the store A) Planning. B) Organizing. C) Controlling. D) Leading. Show Answer Correct Answer: C) Controlling. 2. Which of the following is not a common reason for the failure of small businesses? A) Shortage of skilled workers. B) A lack of sufficient start-up money. C) Failure to manage credit offered to customers. D) Lack of management experience. Show Answer Correct Answer: A) Shortage of skilled workers. 3. What is a business that is owned and operated by one person known as? A) Partnership. B) Limited liability company. C) Sole trader. D) Entrepreneurship. Show Answer Correct Answer: C) Sole trader. 4. Name that concept:Incremental or radical improvements to a business idea, or the generation of new ideas in relation to a final product, service or process, are the result of internal or external influences. A) Globalization. B) Change. C) Strategy. D) Innovation. Show Answer Correct Answer: D) Innovation. 5. Enrolling your sales staff in a training seminar on "Making an Effective Sales Pitch." A) Controlling. B) Planning. C) Leading. D) Organizing. Show Answer Correct Answer: C) Leading. 6. In which stage of project management does risk analysis take place? A) Execution. B) Planning. C) Initiation. D) Closing. Show Answer Correct Answer: B) Planning. 7. Employees who are in contact with customers can reinforce the company's service orientation by dressing professionally and: A) Referring customer complaints to others. B) Maintaining a positive attitude. C) Using consensus-building skills. D) Offering deep discounts to loyal customers. Show Answer Correct Answer: B) Maintaining a positive attitude. 8. A set of measures built into the production process to make sure the products or services meet certain standards is known as which of the following? A) Performance control program. B) Sales standards program. C) Quality control program. D) Standard regulation program. Show Answer Correct Answer: C) Quality control program. 9. Acquire businesses that engage in similar activity for example if AT & T purchased Verizon. A) Horizontal Integration. B) Chain of Production. C) Virtual Integration. D) Forward Vertical Integration. Show Answer Correct Answer: A) Horizontal Integration. 10. The type of leader who is usually the most efficient is A) Situational. B) Open. C) Autocratic. D) Democratic. Show Answer Correct Answer: C) Autocratic. 11. What is the method of corrective action called when an employer raises standards and have employees attend a session to learn how to improve performance? A) Conducting extensive employee training. B) Expecting employees to rise to the occasion. C) Setting lower performance standards. D) None of above. Show Answer Correct Answer: A) Conducting extensive employee training. 12. Which is not a way a business can be socially responsible? A) Paying employees correctly. B) Drawing on the skills of employees. C) Avoiding conflicts of interest. D) Becoming involved in the community. Show Answer Correct Answer: A) Paying employees correctly. 13. Caitlin is doing a walk-through to be sure that all the employees are on target to complete the company goals. Which function of management is this? A) Organizing. B) Controlling. C) Leading. D) Planning. Show Answer Correct Answer: B) Controlling. 14. Which activity would be classified as leading A) Setting company preformance and quality measures. B) Keeping company employees on course to accomplish goals. C) Setting company objectioves and targets. D) Assigning managers tasks for the sales promotion. Show Answer Correct Answer: D) Assigning managers tasks for the sales promotion. 15. Which business strategy am I? Involves innovation, risk taking, seeking new opportunities and growth. A) Differentiation. B) Cost Leadership. C) Defender. D) Prospector. Show Answer Correct Answer: D) Prospector. 16. Categories of factors of production do not include A) Capital. B) Labour. C) Innovations. D) Entrepreneurship. Show Answer Correct Answer: C) Innovations. 17. A banking institution is well-suited for a divisional organizational structure broken down by A) Job function. B) Product. C) Customer type. D) Process. Show Answer Correct Answer: C) Customer type. 18. Planning gives an organization a sense of A) Direction and focus. B) Finances and staff. C) Results. D) Where profits will come from. Show Answer Correct Answer: A) Direction and focus. 19. How many key knowledge points are covered in Chapter 7? A) 3. B) 2. C) 5. D) 4. Show Answer Correct Answer: A) 3. 20. When creating a presentation, what is this acceptable minimum font size? A) 26 point. B) 28 point. C) 24 point. D) 22 point. Show Answer Correct Answer: C) 24 point. 21. When a customer sees a news story on television about a certain company or brand, it's an example of a(n) A) Brand promise. B) Advertisement. C) Touch point. D) Slogan. Show Answer Correct Answer: C) Touch point. 22. A strategy of bringing outside people into the organization and making them feel obligated to contribute because of their organizational involvement. A) Cooperation. B) Cooptation. C) Cooperative Strategy. D) Contributory Strategy. Show Answer Correct Answer: B) Cooptation. 23. The completion of the transcontinental railroad in the United States after the Civil War helped to fulfill A) Racial equality. B) Reconstruction. C) Manifest Destiny. D) Conservation of natural resources. Show Answer Correct Answer: C) Manifest Destiny. 24. A written set of guidelines issued by an organization to its workers and management to help them conduct their actions in accordance with its primary values and ethical standards A) Rules of conduct. B) Managerial control. C) Organizational goals. D) Corporate vision. Show Answer Correct Answer: A) Rules of conduct. 25. The amount of teamwork included in an organizational design is often referred to as A) Lateral relations. B) Delegation. C) Division of labor. D) Staff authority. Show Answer Correct Answer: A) Lateral relations. 26. A plant manager, or a department head, would be an example of which level of management? A) Top. B) Middle. C) Operating. D) Supervisory. Show Answer Correct Answer: B) Middle. 27. Father of Administrative management ..... A) Lillian Gilbert. B) Henry Fayol. C) Mary Parkett. D) Elton Mayo. Show Answer Correct Answer: B) Henry Fayol. 28. Which is not a role of The Fair Work Commission? A) To represent the views of workers. B) Set Awards. C) Approve Collective Agreements. D) Determine unfair dismissal claims. Show Answer Correct Answer: A) To represent the views of workers. 29. Tyson has decided he wants to be trained and certified in cosmetology. Which type of institution of higher learning could provide him with this? A) Community college. B) College. C) University. D) Technical School. Show Answer Correct Answer: D) Technical School. 30. Most managers carry out ..... different functions of management. A) Three. B) One. C) Two. D) Four. Show Answer Correct Answer: D) Four. 31. Which of the following is not a key issue that can be addressed in global sourcing? A) Efficiency. B) Tariffs/tax. C) Local labour costs. D) Environmental Impact. Show Answer Correct Answer: A) Efficiency. 32. This person is responsible for managing and organizing the tasks relating to a funeral service, including organizing transportation to the cemetery and publishing obituaries. A) Hotel manager. B) Farm operator and manager. C) Construction manager. D) Funeral director. Show Answer Correct Answer: D) Funeral director. 33. The three elements of an operations system are A) Inputs, Processes, Output. B) Unfreeze, Movement, Refreeze. C) Technology, Quality, Materials Management. D) Resources, Labour, Product. Show Answer Correct Answer: A) Inputs, Processes, Output. 34. Which of the following is not a step in resource orchestration? A) Assign team roles. B) Develop new products. C) Build team cohesion. D) Select team members. Show Answer Correct Answer: B) Develop new products. 35. Expensive assets that are expected to last and be used a long time. A) Fixed assets. B) Working capital. C) Capital budget. D) Liabilities. Show Answer Correct Answer: A) Fixed assets. 36. Lean production is based on .....? A) TQM, JIT & Automation. B) Technology, Just In Time, Operations. C) Just in time, Kaizen & Automation. D) Just in time, Kaizen & Robotics. Show Answer Correct Answer: C) Just in time, Kaizen & Automation. 37. Transforms primary resources into manufactured goods for sale A) Quaternary Sector. B) Secondary Sector. C) Primary Sector. D) Tertiary Sector. Show Answer Correct Answer: B) Secondary Sector. 38. Which term describes the total sales of all the producers in a market? A) Concentration Ratio. B) Market power. C) Sales Efficiency. D) Market size. Show Answer Correct Answer: D) Market size. 39. Which of the following is a pull factor impacting globalization on a business's location? A) Increase market share. B) Use extension strategies. C) Reduce costs. D) Deregulation of the world's financial markets. Show Answer Correct Answer: D) Deregulation of the world's financial markets. 40. The capacity utilization rate is calculated by A) Actual input/productive capacity X 100. B) Actual output/productive capacity X 100. C) Estimated input/productive capacity X 100. D) Estimated ouput/productive capacity X 100. Show Answer Correct Answer: B) Actual output/productive capacity X 100. 41. A ..... is an agreement between two parties to carry out a transaction, such as the sale of goods from a seller to buyer. A) Contract. B) Copyright. C) Regulation. D) Patent. Show Answer Correct Answer: A) Contract. 42. Which level of needs (Maslow) could be satisfied by extending employee contracts? A) Self-Esteem. B) Self-Actualisation. C) Safety. D) Social. Show Answer Correct Answer: C) Safety. 43. Which of the following is not one of Mintzberg's three categories of managerial roles? A) Informational. B) Decisional. C) Interpersonal. D) Supervisory. Show Answer Correct Answer: D) Supervisory. 44. A chain of command must have unity of command, which means that A) Employees should only report to one supervisor. B) Employees should focus on tasks related to one skill. C) Authority should flow from the top of the organization down. D) The company should be organized in functional departments. Show Answer Correct Answer: A) Employees should only report to one supervisor. 45. With this method of appraisal, individual employees reflect on their own performance. A) Summative. B) Self-appraisal. C) Formative. D) Upward appraisal. Show Answer Correct Answer: B) Self-appraisal. 46. A program that assists in locating information on networks. A) Web-hosting service. B) Management information system. C) Executive information system. D) Search engine. Show Answer Correct Answer: D) Search engine. 47. Capital brought into the business in exchange for a percent of ownership in the business A) Collateral. B) Angel investment. C) Venture capital. D) Equity financing. Show Answer Correct Answer: D) Equity financing. 48. James is creating a list of monthly job duties for the managers in his section. This is an example of which management function? A) Controlling. B) Leading. C) Planning. D) Organizing. Show Answer Correct Answer: D) Organizing. 49. Which of the following is not a disadvantage of participative management style? A) Lack of contribution by all employees. B) Conflicts may arise. C) Open communication. D) Time consuming to seek involvement. Show Answer Correct Answer: C) Open communication. 50. What should help business people adapt their communication styles to appeal to clients from other cultures? A) Being respectful, indifferent, and honest. B) Being confident, biased, and manipulative. C) Being sensitive, transparent, and demanding. D) Being patient, flexible, and empathetic. Show Answer Correct Answer: D) Being patient, flexible, and empathetic. 51. Which of the following is a participative approach to implementation of change, communication, empowerment, group work and support A) Low-risk strategy. B) KPI. C) Team work. D) High-risk strategy. Show Answer Correct Answer: A) Low-risk strategy. 52. Which department of a business usually completes recruitment? A) Supervision. B) Human Resources. C) Accounting. D) Management. Show Answer Correct Answer: B) Human Resources. 53. An employee who is assigned to work in foreign country. A) Virtual Expatriate. B) Local National. C) Expatriate. D) Global National. Show Answer Correct Answer: C) Expatriate. 54. Process of influencing others to work toward the attainment of common goals A) Organizing. B) Planning. C) Controlling. D) Leading. Show Answer Correct Answer: D) Leading. 55. To earn repeat business, you must win both the ..... and the ..... of the customer. A) Mind, heart. B) Pocket, influence. C) Heart, pocket. D) Mind, influence. Show Answer Correct Answer: A) Mind, heart. 56. To control various business activities in an effective manner, managers must first A) Initiate corrective action. B) Identify communication channels. C) Set appropriate standards. D) Request employee feedback. Show Answer Correct Answer: C) Set appropriate standards. 57. ..... requires employer to provide insurance for the death, injury, or illness of employees that results from their work. A) Equal Pay Act. B) Worker's Compensation. C) The Affordable Care Act. D) Americans Disabilities Act. Show Answer Correct Answer: C) The Affordable Care Act. 58. Melanie is showing a group of new employees how to perform work-related task. What staffing activity is Melaine performing? A) Recuriting. B) Training. C) Appraising. D) Interviewing. Show Answer Correct Answer: B) Training. 59. A financial plan for replacing fixed assets or acquiring new ones is known as a(n) ..... A) Cash budget. B) Start up budget. C) Capital budget. D) Operating budget. Show Answer Correct Answer: C) Capital budget. 60. Motivation can best be thought of as A) Communication between employees. B) The reason you do the things you do. C) Developing a team spirit. D) The example managers set for employees. Show Answer Correct Answer: B) The reason you do the things you do. ← PreviousNext →Related QuizzesEconomy QuizzesGeneral Knowledge QuizzesBusiness Management Quiz 1Business Management Quiz 2Business Management Quiz 3Business Management Quiz 4Business Management Quiz 5Business Management Quiz 6Business Management Quiz 7Business Management Quiz 8 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books