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INTRO Business Concepts Review Flashcards | StudBud
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INTRO Business Concepts Review
INTRO Business Concepts Review
24 terms
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StudBud Administration
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Introduction to Business & Marketing, Core Concepts of Business #business #marketing
Flashcards
24 cards
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Questions
24
Answers
1
An advantage of a partnership is:
combined skills
professional management
limited liability
control of decisions
2
An advantage of a sole proprietorship is that it is:
able to live forever
easy to start
heavily regulated
easy to raise money
3
Which kind of business offers intangible goods through human effort (labor)?
service
manufacturer
marketer
extractor
4
True or False: leadership traits include motivation, confidence, communication, and integrity.
True
False
5
Which leadership style is used in a one-to-one setting when an individual needs to improve?
facilitating
visionary
affiliative
coaching
6
Which kind of business connects products with consumers?
marketer
extractor
service
manufacturer
7
Which function of management includes gathering resources and hiring & staffing decisions?
organizing
controlling
implementing
planning
8
Which leadership style asks the same of everyone & sets high performance standards?
facilitating
commanding
pace-setting
coaching
9
Which leadership style uses team building to create harmony in a group?
pace-setting
visionary
affiliative
commanding
10
Dick's Sporting Goods is an example of which kind of business?
service
extractor
marketer
manufacturer
11
Exxon-Mobil is an example of which kind of business?
manufacturer
extractor
service
marketer
12
Which function of management includes guiding day-to-day tasks by providing leadership?
directing
organizing
evaluating
controlling
13
Which function of management includes setting goals & objectives?
planning
evaluating
organizing
directing
14
Which kind of business grows products or takes raw materials from nature?
extractor
service
manufacturer
marketer
15
Which function of management includes monitoring quality standards and problem solving?
evaluating
planning
implementing
controlling
16
True or False: leadership and management are the same thing.
False
True
17
An advantage of a corporation is:
living forever
double taxation
unlimited liability
control of profits
18
Which type of business ownership provides training and a guaranteed geographic territory?
corporation
partnership
sole proprietorship
franchise
19
Ford is an example of which kind of business?
service
extractor
marketer
manufacturer
20
Which kind of business converts raw materials into a form that consumers can use?
manufacturer
extractor
service
marketer
21
True or False: a person might change leadership styles depending on the situation.
False
True
22
Which type of business ownership can have up to 35 shareholders?
Franchise
LLP
S-Corporation
LLC
23
Which function of management assesses performance and monitors customer satisfaction?
controlling
directing
evaluating
staffing
24
Wedding planners and landscapers are examples of which kind of business?
extractor
manufacturer
marketer
service
