Tutorial 2 Intro to Business

Strategic planning is done by the ________________.

• top management

• middle level management

• lower level management

• subordinates

           Decisions taken by an entrepreneur on behalf of his enterprise are known as _______________.                 

• organizational decisions.

• personal decision

• routine decision

• strategic decision

Which industrial sector promotes small-scale businesses and entrepreneurship, and has lower barriers to market entry?

• service

• manufacturing

• distribution

• agriculture

A business arrangement where one party allows another party to use a business

name and sell its products or services is known as   _________________.

• a cooperative.

• a franchise.

• an owner-manager business.

• a limited company.

The ‘MISSION’ of the organization can be described as ___________________

• the future picture of the organization

• the annual goal to be achieved by the organization.

• the method deployed to achieve its aim

• the strength of the organisation.

Which management writer popularized the management-by-objectives (MBO) concept?

• Tom Peters

• Frederick Taylor

• Peter Drucker

• Abraham Maslow

______________________ is managing profitable customer relationships.

• management

• control

• marketing

• human resource

Which theory is a set of essentially positive assumptions about human nature?

• Theory X

• Theory Y

• Theory Z

• Equity Theory

The process of directing the behavior of others toward the accomplishment of objectives is   ­­­­­­­­­­­­­­­­­­­­­­­_______________________.

• controlling

• planning

• leadership

• management

We need to update the business plan because________

• environmental factors and internal factors can change the direction of the plan

• goals set by the entrepreneurs may be unreasonable

• goals may not be measurable

• goals may not be specific