Business Studies - The Nature of Management

What is required by the management function of leading?

• Setting up strategic,tactical and operational plans

• Motivating employees to work effectively

• Monitoring and evaluating business performance

• Implementing strategic,tactical and operational plans

Which situation will result in greater efficiency?

• The same output is achieved with fewer inputs.

  
  

• The same input is needed for fewer outputs.

• Fewer inputs are needed to produce fewer outputs.

• More inputs are needed to achieve the same output.

What is included in the interpersonal skill of management?

• Acting as a figurehead for the business

• Being able to lead staff

• Solving complex problems

• Making important business decisions

Why is accurate and timely information important for effective management?

• To lead and motivate employees

• To measure the success of a business

• To make better decisions when organising resources

• To communicate with the other functional departments

To what does the strategic plan of a business refer?

• A The day-to-day operations of the business

• The business's overall long-term plan

• Decisions made by functional departments

• Motivating and leading employees to achieve business goals

What is the meaning of the term 'ethical behaviour'?

• Behaviour that conforms to the values of society

• Behaviour that is illegal

• Behaviour that is morally unacceptable to society

• Behaviour that is legal but morally unacceptable to society

Which groups are internal stakeholders?

• Owners,employees and customers

• Shareholders,managers and the government

• Customers,the government and employees

• Owners,employees and managers

Which of the following is a financial goal?

• Increased sales and market share

• Expansion into new overseas markets

• Reduced costs

• Quality of outputs

What term is used for a business that expands by acquiring other businesses that are unrelated to its prime function?

• Vertical integration

• Horizontal integration

• Portfolio investment

• Diversification

What is a benefit when a business implements a mentoring program?

• Employees who leave are replaced more easily.

• New employees can increase their productivity more quickly.

• Employee costs to the business increase.

• Employee training costs are reduced.