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TEST QUIZ - ALL COMPONENTS Flashcards | StudBud
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TEST QUIZ - ALL COMPONENTS
TEST QUIZ - ALL COMPONENTS
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Questions
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Answers
1
Which of the following is a function of top-level management?
Supervising daily tasks
Approving staff leave
Developing strategic goals
Processing payroll
2
A business decides to retrain its staff due to AI automation trends. This response is due to pressure from the:
Macro environment – technological factor
Market environment
Micro environment
Macro environment – legal factor
3
Which type of management takes medium-term tactical decisions?
Operational management
Lower-level management
Top management
Middle management
4
A decrease in interest rates is a micro-environment factor that directly affects the business's day-to-day operations.
False
True
5
The bargaining power of suppliers is considered a component of the market environment, not the micro environment.
False
True
6
What is a
total quality management (TQM) principle
?
Isolating customer feedback
Avoiding statistical analysis
Continuous improvement
Cutting training budgets
7
Which one of the following is a
social responsibility of businesses toward the environment
?
Proper waste management and recycling
Maximizing factory production
Cutting operational costs at all costs
Ignoring emission laws
8
Which of the following would most likely be discussed in a quality circle?
Worker salaries
Marketing budgets
New hiring procedures
Methods to reduce waste and improve safety
9
Which of the following is an example of an
intermediary
in the micro environment?
Load shedding by Eskom
Retail distributor of the business's products
Inflation rate changes
SARS (South African Revenue Service)
10
Which of the following actions is MOST LIKELY influenced by a change in the macro environment's political factor?
Adapting operations to comply with a new government regulation
Promoting a manager internally
Changing a supplier due to cost
Hiring more customer service staff
11
Dispatching is part of production control.
False
True
12
Which combination correctly classifies all MACRO environmental factors?
Employees, managers, culture
Competitors, suppliers, customers
Economic, legal, political, technological, social, environmental
Customers, intermediaries, regulators
13
According to quality concepts, the
cost of non-conformance
includes:
Training expenses
Staff salaries
Warranties, returns, and rework
Initial investment
14
Counterfeit goods are illegal copies made to resemble original products.
True
False
15
Which type of capital is used for daily operations?
Angel Funding
Fixed Capital
Venture Capital
Working Capital
16
Which of the following is
not a characteristic of good quality
?
Poor packaging
Reliability
Consistency
Conformance to standards
17
In a
quality assurance system
, what ensures consistent outputs?
Minimizing employee involvement
Reducing the workforce
Ignoring customer complaints
Standard operating procedures (SOPs)
18
The Consumer Protection Act applies only to large corporations.
False
True
19
What is a key
advantage of franchising
for the franchisee?
Riskier business operations
Full independence
Established brand and support
Greater legal responsibilities
20
A public company can raise capital by selling shares on the stock exchange.
True
False
21
A business can easily influence or control the legal and political aspects of the macro environment.
True
False
22
A partnership agreement is essential for reducing misunderstandings between partners.
True
False
23
Which of the following is an example of illegal gambling?
Licensed Casino
Scratch cards
National Lottery
Dice games on the street
24
A change in consumer preferences is a micro-environmental factor that impacts marketing decisions.
False
True
25
Which risk does piracy pose for businesses?
Increased investment
Boost in innovation
Improved sales of original items
Loss of product trust and revenue
26
What is the primary risk of strikes for a business?
Higher stock levels
Improved labour relations
Reduced production
Increased profits
27
A
Close Corporation (CC)
can have:
Exactly 5 members
Unlimited members
No members
Up to 10 members
28
What is the
main goal of quality control
in a business?
Ensure products meet required standards
Train employees more effectively
Increase advertisement reach
Reduce staff turnover
29
What is the main purpose of stock control?
Increase business profits
Prevent employee theft
Maintain the right quantity of inventory
Prevent overstaffing
30
Total Quality Management (TQM) requires involvement from all levels of the organization.
True
False
31
In terms of ownership, a
franchise
is best described as:
An informal partnership
A single-owner business with unlimited liability
A company owned by shareholders
A licensing arrangement between franchisor and franchisee
32
What is the major negative effect of gambling on business?
Improved employee morale
Stronger teamwork
Reduced productivity and crime
Higher sales
33
A
trademark
is used to:
Prevent business loans
Protect inventions
Determine asset values
Identify products and services uniquely
34
The financial function determines only how to spend business profits.
False
True
35
Quality products must be expensive.
False
True
36
Which Act protects consumers against unfair credit agreements?
Labour Relations Act
National Credit Act
Consumer Bargaining Act
Occupational Health Act
37
Which business function is responsible for acquiring and managing funds?
Administration
Marketing
Financial
Public Relations
38
Which organisation ensures South African products meet safety standards?
ISO
TQM
OHS
SABS
39
Which method helps businesses protect intellectual property?
Branding
Patents
Customer loyalty programmes
Outsourcing
40
A business
shows ethical responsibility
when it:
Only donates during tax season
Avoids legal obligations
Treats employees fairly and pays living wages
Falsifies environmental reports
41
Which part of a Total Quality Management (TQM) system focuses on
everyone
being responsible for quality?
Company policy
ISO certification
Involvement of all staff in quality efforts
Departmental management
42
Which form of ownership has
unlimited liability
?
Partnership
Private Company
Public Company
Close Corporation
43
What is the
main reason businesses adopt CSR initiatives
?
Build a positive public image and ensure long-term sustainability
Reduce product costs
Meet shareholder demands
Increase short-term profits
44
Which function handles activities like telephone etiquette and filing?
Financial
Purchasing
Administration
Public Relations
45
Corporate Social Responsibility only benefits the community, not the business.
False
True
46
How does the macro environment differ from the market environment?
macro environment consists of controllable internal stakeholders
macro environment includes internal employees
macro environment includes external forces like political and technologia
macro environment includes suppliers and competitors
47
Piracy does not impact business profits.
True
False
48
Corporate Social Responsibility (CSR)
involves:
Avoiding all donations
Maximizing profits at any cost
Voluntarily contributing to community welfare
Only complying with tax laws
49
Competitors are part of the micro environment and can be directly controlled by the business.
False
True
50
One
disadvantage of a private company
is:
Flexibility of control
Access to more capital
Complex registration process
Limited liability
