WebXam Review - Principals of Business - 1 - Business Activities

Which of the following is NOT a type of business model?

• Subscription-based

• Franchise

• Productivity-based

• Freemium

Why do businesses exist in society?

• To maximize shareholder wealth

• To provide goods and services to meet societal needs and wants

• To maintain political stability

• To promote individual self-interest

Which of the following is NOT a force driving business changes?

• Technological advancements

• Changing consumer preferences

• Stable political climate

• Legal and regulatory changes

How does accounting interact with other business activities?

• By managing human resources

• By forecasting market trends

• By tracking financial transactions and performance

• By overseeing production operations

What is the primary function of human resources management?

• To develop marketing strategies

• To optimize supply chain operations

• To recruit, train, and manage employees

• To analyze customer feedback

How does information management interact with other business activities?

• By overseeing sales operations

• By managing financial investments

• By organizing and analyzing data to support decision-making

• By developing product designs

What is the main function of marketing?

• To manage inventory levels

• To oversee employee schedules

• To identify and satisfy customer needs and wants

• To regulate workplace safety protocols

What does supply chain management primarily focus on?

• Managing sales transactions

• Managing transportation logistics

• Optimizing the flow of goods and services from suppliers to customers

• Developing strategic business plans

How does strategic management interact with other business activities?

• By coordinating sales efforts

• By setting long-term goals and developing plans to achieve them

• By managing day-to-day operations

• By monitoring employee performance

What is the role of operations management in a business?

• To oversee marketing campaigns

• To manage financial transactions

• To ensure efficient production processes and delivery of products or services

• To handle customer complaints and inquiries