Business Management - Unit 2 Review

The best example of a service business is a(n)

Which of the following is NOT one of the ways companies can achieve efficiency?

Consistency in products and performance is measured with a:

T/F: in order to increase profits, a business must sell more products and make more revenue.

A written financial plan for business operations developed for a specific period of time.

The motivation theory that states people are influenced by achievement, affiliation, or power

T/F:  Innovation refers only to the invention of new products.

Guidelines used in making decisions regarding specific, recurring situations are called:

The number of employees that any one manager supervises directly is the:

The major ongoing activities of a business.

The mathematical equation of income minus costs.

Planning provides all of the following benefits to a company EXCEPT:

An organization that produces or distributes goods or services for a profit is a(n):

The internal and external analysis completed by businesses as a part of planning is called:

T/F: Herzberg's "hygiene factors" should be used by managers as motivational tools.

An example of an internal motivation factor is:

All businesses within a category doing similar work.