12 Questions
What is the main difference between authority and responsibility?
Authority is the right to give orders, while responsibility is being answerable for the outcome.
What is the central concept in delegation of authority?
Accountability
Which model is often used for managing planned change in organizations?
ADKAR Model
How does automation differ from mechanization?
Mechanization enhances human efforts, while automation aims to eliminate human intervention.
What is a key factor in overcoming resistance to change?
Communicating openly and transparently
In the context of management, what does decentralization of authority primarily involve?
Distributing decision-making powers throughout different levels of an organization.
What is the primary purpose of conducting a SWOT analysis in a business environment?
To identify internal strengths and weaknesses
Which of the following best describes the concept of Intrapreneurship?
Entrepreneurship within an existing organization
What are the main factors that affect Entrepreneurship?
Macro-economic factors and government policies
What distinguishes Business Risks from Business Failure?
Failure is the actual occurrence of a negative outcome, while risks are potential threats
In the context of Entrepreneurship, what does the term 'Enterprise' typically refer to?
A project or initiative undertaken by an entrepreneur
Which analysis technique involves examining factors like Political, Economic, Social, Technological, Legal, and Environmental influences?
PESTLE Analysis
Test your knowledge on business environment including its meaning, features, components, SWOT analysis, PESTLE analysis, and Porter's Five Factor Analysis. Explore entrepreneurship topics such as characteristics, intrapreneurship, and differences between entrepreneurship types.
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