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AICE Business Review Flashcards | StudBud
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AICE Business Review
AICE Business Review
20 terms
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A #ciebusASexam
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
An intro training program to assist new employees to settle in and feel comfortable in new job
Beginning Employee Program
Induction Training
Introduction Training
Newly hired training
2
What is a public-limited company
All are correct
share prices are usually quoted on a national stock exchange
legal rights to sell shares to the general public
usually large company limited company
3
Debt Factoring
business sells debt invoices to 3rd party company
bank agrees to a business borrowing up to an agreed amount
assets sold to a company for an agreed amount
obtaining the use of equipment & vehicles for rent
4
Managers to understand their emotions, & of the people they work with for better bus. results
Informal Leadership
Emotional Intelligence
Paternalistic Leadership
Democratic Leadership
5
Demand
product that consumers are willing/able to buy at price
long-term plan established for achieving marketing goals
goals set for the marketing department
product that firms are prepared to supply at price/time
6
Autocratic leader
is "hands-off" approach
that keeps decision-making at the center of org.
promotes active participation of workers in decisions
knows more than the workers what is best for organization
7
Businesses should consider the interest of society in their activities beyond legal obligations
Corporate social responsibility
Mission statement
Corporate aims
Board of Directors
8
Leadership is:
responsible for setting objectives
the art of motivating a group of people to common goal
decisions about new products
none of the answers are correct
9
What is market size
none of the answers
Volume of sales
% of overall market a business has
value of inventory
10
Who are stakeholders in a business
Shareholders
All of the answers are correct
Community
Employees
11
Entrepreneur
individual who is energetic, creative and a visionary
ind. who are creative
All of the answers are correct
ind. who takes fin. risk of starting & managing a business
12
Mass customization
producing a one-off specialty item
producing a limited # of identical products
producing items in a continually moving process
CAD production to produce items to meet ind. customer need
13
What is a public corporation?
A business owned by employees of a public corporation
A business owned & controlled by shareholders
A business that is socially conscientious
A business owned & controlled by the state
14
Internal & external factors that stimulate people to take actions that lead to achieving a goal
Hygiene factors
Self-actualization
Leadership
Motivation
15
What is a public sector enterprise
org. accountable to & controlled by central or local govt.
bus. controlled by one person
businesses owned and controlled by ind. or groups of ind.
small to med.-sized business owned by shareholders
16
What is limited liability
only liability of shareholder is $$ invested in bus.
economic resources are owned , planned & controlled by state
bus. formed by two or more people to carry on bus. together
All of the answers are correct
17
A legal document that sets out the terms and conditions governing a worker's job
Labor turnover
Training
Recruitment
Employment Contract
18
What is the triple bottom line
none of the answers
mainly social business objectives
objective of a private limited company
3 obj. of social enter. economic, social & environmental
19
Which of the following can be considered a marketing objective:
re-brand the product
All answers are correct
re-launch the new product
develop new markets
20
Leadership style that promotes the active participation of workers in taking decisions
Paternalistic Leadership
Autocratic Leadership
Democratic Leadership
Laissez-faire Leadership
