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VCE Business Management U3AOS1 - Business Foundations Flashcards | StudBud
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VCE Business Management U3AOS1 - Business Foundations
VCE Business Management U3AOS1 - Business Foundations
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2017 study design - VCE Business Management Unit 3 Area of Study 1 - Business Foundations
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
Which of these is an advantage of a private limited company compared with a public listed company?
Cheaper business structure to establish
Company is a separate legal entity from any individuals
Greater ability to raise large amounts of capital
limited liability
2
"Revenue" is the money left over after expenses are paid - true or false?
True
False
3
Official corporate culture is:
What the business wants the culture to be
Evident in how staff dress and talk to one another
Another name for real corporate culture
How managers communicate with staff
4
Which of the following is part of the Technology Support area of management responsibility?
Analysing the business' financial position
Ensuring an automated production line is operating smoothly
Using an online store to communicate with and sell to customers
Improving motivation of employees
5
A manager should always maximise the profit of a business, regardless of any other interests. True or false?
False
True
6
Trade unions would be what kind of stakeholder in a business?
internal
external
7
This refers to
how well
a business uses its resources to achieve objectives:
customer satisfaction
efficiency
effectiveness
staff satisfaction
8
Which of the following is
not
a management skill?
interpersonal
planning
consultative
leading
9
For which situation is a laissez faire management style most appropriate?
When there is a crisis that needs to be dealt with quickly
Experienced and highly-skilled staff; creative tasks
Setting up a new business; strict rules
New and inexperienced staff; regimented activities
10
Which type of business aims to make a profit and intends to provide national/community services?
social enterprise
public listed company
government business enterprise
private limited company
11
Where the business owner is personally responsible for all debts of the business:
incorporation
triple bottom line
limited liability
unlimited liability
12
Which of the following is
not
an area of management responsibility?
technological support
maintenance
finance
human resources
13
Which of the following is an
external
stakeholder of a business?
directors
customers
employees
shareholders
14
The action of transferring authority from a manager to employee to achieve tasks is called what?
Communication
Autocratic
Planning
Delegation
15
Which of the following is
not
an example of corporate social responsibility
Complying with OH&S legislation
Providing flexible working arrangements for staff
Sourcing resources from local suppliers
Using energy saving practices
16
Which of the following is
not
a management style?
Participative
Consultative
Persuasive
Authorative
17
Which of the following is a characteristic of a participative management style?
little to no employee input
motivate through threat and disciplinary action
two-way communication
centralised decision making
18
A type of planning about where the business wants to be in the next 2-5 years is:
strategic planning
medium term planning
conditional planning
operational planning
19
Which of these is a common business objective?
To meet shareholder expectations
To make a profit
To fulfill a social need
These are all common business objectives
20
Which statement is correct?
Persuasive managers never give reasons for their decisions
Persuasive managers use delegation regularly
Persuasive managers often explain the benefits of decisions
Persuasive managers allow employees to make decisions
