Implementing and Managing the Venture

Question 1

What key things must be created before strategies can be formulated?

Accepted Answer

Goals and Objectives

Question 2

Select THREE key areas that will be recognized when managing the venture.

Accepted Answer

Expansion of the Business, Payback of Resource Providers, Monitoring of performance

Question 3

Which of the following is NOT an external environment factor in the business?

Accepted Answer

Human Resource

Question 4

These are specific guidelines, methods, procedures, rules, forms and practices.

Accepted Answer

Policies

Question 5

Horizontal integration is merger/acquisition of another firm in the same type of business.

Accepted Answer

True

Question 6

Which function focuses on making the enterprise financially stable and highly profitable?

Accepted Answer

Finance/Accounting Function

Question 7

The human resources is responsible for all of the following EXCEPT;

Accepted Answer

organize and control finances

Question 8

Objectives must be SMART. What does smart mean?

Accepted Answer

specific, measurable, achievable, realistic, timely

Questions 8