To be an effective manager, you must ...

Ensure efforts of employees are directed to a common goal

What is the traditional definition of business management?

Coordinating a business's resources to achieve its goals

In business terms, what is efficiency?

Goods and services produced relative to the resource inputs

The four main resources available to businesses are:

Human, Information & Technology, Physical and Financial

Which of the following statements are true?

Typical business managers are constantly interrupted

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SPC 11 Prelim Business Topic 2: Business Management - The Nature of Management #1

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Preliminary Year 11 Business Studies Topic 2 Business Management - The Nature of Business Quiz #1

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Questions 10

Answers

1
Which of the following are human resources?
Goodwill
Long term loans
Machinery
Employees
2
Strategic decisions, direction and information flow from middle to top level management. T/F?
True
False
3
Which level of management would be responsible for developing policies, plans and strategies?
Middle level management
Supervisory /first level management
Top level management
4
Which of the following is usually a major determinant of the success or failure of a business?
Marketing strategies
Cutting edge technology
Strong vision and mission statements
Effective management
5
To be an effective manager, you must ...
Closely supervise the activities of employees
Repay creditors and long term loans as quickly as possible
Ensure efforts of employees are directed to a common goal
Ensure you maximise revenue
6
What is the traditional definition of business management?
Coordinating a business's resources to achieve its goals
Operations to maximise profit
Achieving a work/life balance
Satisfying the wants and needs of a target market
7
In business terms, what is efficiency?
Following instructions quickly and correctly
The degree to which business goals have been achieved
Goods and services produced relative to the resource inputs
The effectiveness of a production factor
8
The four main resources available to businesses are:
Land, Natural Resources, Capital & Enterprise
Primary, Secondary, Tertiary & Quaternary
Profit, Turnover, Sales & Revenue
Human, Information & Technology, Physical and Financial
9
Which of the following statements are true?
Management is about making systematic decisions
Typical business managers are constantly interrupted
The activity of management is a science with set formulas
Managers have time to reflect on the mission of the business
10
Which of the following is an example of a stakeholder in a business?
All of the above
Customer
Shareholder
Supplier

SPC 11 Prelim Business Topic 2: Business Management - The Nature of Management #1 Flashcards | StudBud