Business Environment and Entrepreneurship
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Questions and Answers

What is the main difference between authority and responsibility?

  • Authority is the obligation to complete tasks, while responsibility is the power to make decisions.
  • Authority is being accountable for decisions, while responsibility is the power to delegate tasks.
  • Authority is the right to give orders, while responsibility is being answerable for the outcome. (correct)
  • Authority is the ability to supervise, while responsibility is the duty to follow orders.

    • What is the central concept in delegation of authority?

  • Control
  • Accountability (correct)
  • Communication
  • Autonomy

    • Which model is often used for managing planned change in organizations?

  • Kaizen Model
  • ADKAR Model (correct)
  • Agile Model
  • Six Sigma Model

    • How does automation differ from mechanization?

    <p>Mechanization enhances human efforts, while automation aims to eliminate human intervention.</p> Signup and view all the answers

    What is a key factor in overcoming resistance to change?

    <p>Communicating openly and transparently</p> Signup and view all the answers

    In the context of management, what does decentralization of authority primarily involve?

    <p>Distributing decision-making powers throughout different levels of an organization.</p> Signup and view all the answers

    What is the primary purpose of conducting a SWOT analysis in a business environment?

    <p>To identify internal strengths and weaknesses</p> Signup and view all the answers

    Which of the following best describes the concept of Intrapreneurship?

    <p>Entrepreneurship within an existing organization</p> Signup and view all the answers

    What are the main factors that affect Entrepreneurship?

    <p>Macro-economic factors and government policies</p> Signup and view all the answers

    What distinguishes Business Risks from Business Failure?

    <p>Failure is the actual occurrence of a negative outcome, while risks are potential threats</p> Signup and view all the answers

    In the context of Entrepreneurship, what does the term 'Enterprise' typically refer to?

    <p>A project or initiative undertaken by an entrepreneur</p> Signup and view all the answers

    Which analysis technique involves examining factors like Political, Economic, Social, Technological, Legal, and Environmental influences?

    <p>PESTLE Analysis</p> Signup and view all the answers

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