Lecture 1

What is the primary purpose of a business?

• • To manage resources efficiently

• • To provide employment

• • To deliver goods and services for profit

• • To compete with other businesses

Which of the following best describes the function of "organizing" in management?

• Anticipating future events and preparing for them

• Allocating resources and assigning tasks within a structured environment

• Motivating employees to accomplish organizational goals

• Evaluating performance against objectives

What does the term "environmental uncertainty" refer to in business?

• The level of unpredictability in external factors affecting the business

• The confusion among employees about organizational goals

• The difficulty of adapting to new management techniques

• The fluctuation of raw material prices

Which of the following is not typically considered a function of management?

• Controlling

• Planning

• Manufacturing

• Organizing

What skill allows managers to see the organization as a whole and understand the relationships among its parts?

• Human skills

• Technical skills

• Financial skills

• Conceptual skills

Which of the followings defines the person who is profit seeker and risk taker?

• Entrepreneur
• Employee
• Manager
• Investor

Regional Manager, Division Head, Director and Dean are the types of which of the followings in the managerial positions?

• Administrative Positions
• Top level management

• Low management

• Middle management

A person who risks his or her time, effort, and money to start and operate a business is called a/an Intrapreneur.

• True

• False

The function that involves the use of influence over people to direct and motivate their behaviors for the attainment of organizational goals is called planning.

• True

• False

Competition between businesses is essential for driving innovation and improving services.

• True

• False