Intro to Business

One who carries out the decisions of top-level management. They include plant managers, regional managers, and department heads. They are responsible for planning and controlling an operation.

• Top-level (Upper) Management

• Middle-level Management

• First-level Management

Which of the following is NOT a recommended strategy for selecting a social media platform for business?

• Focus on 1-3 platforms that align with business goals

• Invest in all social media platforms equally for maximum reach

• Secure your business profile on all platforms to control branding

• Research the demographics of each platform to identify the best fit

What is Crowd-funding?

• A Bank

• A failed business

• Paying for lots of people

• A way for a new business to raise capital (funding)

Which of the following is a key component of a business plan?

• Executive Summary

• Personal Biography

• Daily Schedule

• Shopping List

What is the primary purpose of market research in business?

• To determine personal preferences

• To understand market trends and customer needs

• To create a personal budget

• To find new hobbies

Which term describes the money a business earns from its normal business operations?

• Revenue

• Expense

• Liability

• Equity

What is the role of a business's mission statement?

• To outline the company's daily tasks

• To describe the company's purpose and values

• To list the company's products

• To provide financial forecasts

Which of the following is an example of a fixed cost for a business?

• Raw materials

• Employee wages

• Rent

• Utility bills

What does SWOT stand for in business analysis?

• Strengths, Weaknesses, Opportunities, Threats

• Sales, Wages, Operations, Taxes

• Strategy, Work, Output, Time

• Systems, Workflow, Organization, Technology

Which of the following is a benefit of having a diverse workforce in a business?

• Increased conflict

• Limited perspectives

• Enhanced creativity and innovation

• Uniformity in ideas