Preliminary Business Studies- Nature of Management

Question 1

Which of the following is a business goal?

Accepted Answer

Market share, Share price, Growth, Profit

Question 2

Occurs when there is a maximum difference between the total revenue coming into the business and total costs paid out.

Accepted Answer

Profit Maximisation

Question 3

Effective communicators share their thoughts/plans and find it easy to influence others. Select a form of communication.

Accepted Answer

Sending an email, Body Language, Non-verbal, Verbal

Question 4

________ _________ refers to the business’s share of the total industry sales for a particular product.

Accepted Answer

Market share

Question 5

Social goals include...

Accepted Answer

Provision of employment, Social justice, Community service

Question 6

Effectiveness measures the degree to which a goal has been achieved.

Accepted Answer

True

Question 7

Most researchers agree that 70 per cent or more of the meaning of any message is communicated through nonverbal channels

Accepted Answer

True

Question 8

S.M.A.R.T in terms of goal setting stands for...

Accepted Answer

Specific, Measurable, Achievable, Realistic, Timebound

Question 9

Which of the following is NOT a stakeholder of a Mo & Jo's car dealership.

Accepted Answer

Shareholder

Question 10

The features of effective management are...

Accepted Answer

Planning, Organising, Leading, Controlling

Question 11

The process of coordinating a business’s resources to achieve its goals. What definition of Mngt is this?

Accepted Answer

Traditional

Question 12

Management is a science and can be reduced to a formula and set of ‘laws’ that result in goals being achieved.

Accepted Answer

False

Question 13

Decision-making is a set of activities involved in searching for, identifying and then implementing a course of action.

Accepted Answer

False

Question 14

A goal is a desired outcome (target) that an individual or business intends to achieve within a certain time frame.

Accepted Answer

True

Question 15

Effectiveness compares the resources needed to achieve a goal against what was actually achieved.

Accepted Answer

False

Question 16

The following stakeholders have conflicting interests. Employees wanting better wages and shareholders more profits.

Accepted Answer

True

Question 17

Managers get their work done with and through other people. Which Skill of Mngt is this referring to?

Accepted Answer

Interpersonal

Question 18

Vision as a skill of mngt is...

Accepted Answer

direction that allows people to attain a common goal, the clear, shared sense ofdirection

Question 19

Problem solving means finding and then implementing a course of action to correct an unworkable situation

Accepted Answer

True

Question 20

Allows a manager to see the business as a whole and to take the broad, long-term view. Which skill of mngt is this?

Accepted Answer

Strategic thinking

Questions 20