BM1 1.03 Practice

Which of the following is a management function?

• Organizing

• Advertising

• Purchasing

• Innovating

Which of the following is a management function?

• A) Directing

• B) Promoting

• C) Selling

• D) Designing

What is identified as the most fundamental role of management?

• Planning

• Organizing

• Leading

• Controlling

The planning process includes:

• Setting objectives, developing premises, identifying alternatives, evaluating alternatives, selecting an alternative, implementing the plan, and monitoring and controlling the plan.

• Only setting objectives and implementing the plan.

• Developing premises and selecting an alternative.

• Monitoring and controlling the plan only.

Why is it important to review plans over time?

• To ensure they remain relevant and effective

• To make them more complex

• To avoid any changes

• To reduce their importance

What is the goal of the business and purpose of their existence?

• To maximize profits

• To provide value to customers

• To create a sustainable business model

• To innovate and lead the market

A set of tasks that fulfills a purpose or duty; an assignment set by an employer is known as what?

• Job

• Project

• Hobby

• Chore

What does a business plan to achieve within an agreed timeline (the destination)?

• Goal

• Budget

• Team

• Schedule

What is a plan of action (how to achieve the goal) called?

• Strategy

• Tactic

• Objective

• Vision

Fill in the blank: A ______ is what a business plans to achieve within an agreed timeline (the destination).

• goal

• plan

• strategy

• objective