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Questions and Answers
Which of the following factors is excluded from those that can affect a business?
Which of the following factors is excluded from those that can affect a business?
Which business formation requires no legal formality like registration?
Which business formation requires no legal formality like registration?
What is a disadvantage of partnerships?
What is a disadvantage of partnerships?
How is profit and loss typically distributed in a partnership deed?
How is profit and loss typically distributed in a partnership deed?
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Where are the powers of the Board of Directors to borrow from banks mentioned?
Where are the powers of the Board of Directors to borrow from banks mentioned?
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Which element is vital when designing a business plan?
Which element is vital when designing a business plan?
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What is it called when a firm acquires another firm as part of its business strategy?
What is it called when a firm acquires another firm as part of its business strategy?
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What is the record of a country's imports and exports called?
What is the record of a country's imports and exports called?
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According to Maslow's hierarchy of needs, what need is being fulfilled by purchasing a burglar alarm?
According to Maslow's hierarchy of needs, what need is being fulfilled by purchasing a burglar alarm?
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What are company policy and salary classified as?
What are company policy and salary classified as?
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Which step is essential to enhance expectancy in a workplace?
Which step is essential to enhance expectancy in a workplace?
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What does job rotation involve?
What does job rotation involve?
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Which element is NOT a basic idea in the definition of marketing?
Which element is NOT a basic idea in the definition of marketing?
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In which stage of marketing are customers' unsatisfied needs addressed?
In which stage of marketing are customers' unsatisfied needs addressed?
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Which statement is NOT true about services?
Which statement is NOT true about services?
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Who generally has unlimited liability?
Who generally has unlimited liability?
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Which area should managers of a fast food restaurant prioritize if they are ignoring customer concerns about toys in meals?
Which area should managers of a fast food restaurant prioritize if they are ignoring customer concerns about toys in meals?
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Which dimension of social responsibility involves hiring minority workers and minimizing pollution?
Which dimension of social responsibility involves hiring minority workers and minimizing pollution?
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What is the primary goal of human resource planning?
What is the primary goal of human resource planning?
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Critics of the MBTI suggest that its results may be questionable because:
Critics of the MBTI suggest that its results may be questionable because:
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What are selection devices based upon the physical condition of candidates called?
What are selection devices based upon the physical condition of candidates called?
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Which type of chart is used to show employee turnover in an organization?
Which type of chart is used to show employee turnover in an organization?
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What significant factor affecting productivity was highlighted by the Hawthorne Studies?
What significant factor affecting productivity was highlighted by the Hawthorne Studies?
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The use of MBTI for selecting employees for organizational citizenship behaviors might be considered what?
The use of MBTI for selecting employees for organizational citizenship behaviors might be considered what?
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Which of the following is excluded from factors that can affect the business?
Which of the following is excluded from factors that can affect the business?
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The formation of ______ does not require any legal formality like registration.
The formation of ______ does not require any legal formality like registration.
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Which of the following is a disadvantage of partnership?
Which of the following is a disadvantage of partnership?
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In partnership deed, profit and loss is distributed among the partners:
In partnership deed, profit and loss is distributed among the partners:
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The powers of the Board of Directors to borrow from the bank are mentioned in:
The powers of the Board of Directors to borrow from the bank are mentioned in:
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Which of the following should be considered when designing a business plan?
Which of the following should be considered when designing a business plan?
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A firm that acquires another firm as part of its overall business strategy is engaging in ______.
A firm that acquires another firm as part of its overall business strategy is engaging in ______.
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The record of a country's imports and exports of goods and services is called its:
The record of a country's imports and exports of goods and services is called its:
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Which of the following is the treaty designed to remove barriers to the free flow of goods, services, and capital between nations?
Which of the following is the treaty designed to remove barriers to the free flow of goods, services, and capital between nations?
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Export subsidies are:
Export subsidies are:
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If a very successful fast food restaurant has been ignoring customers' concerns about the small war toys and toy guns included in their Kids Meals, then managers should begin focusing on improving the firm's:
If a very successful fast food restaurant has been ignoring customers' concerns about the small war toys and toy guns included in their Kids Meals, then managers should begin focusing on improving the firm's:
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______ is a dimension of social responsibility that includes hiring minority workers, making safe products, minimizing pollution, using energy wisely, and providing a safe work environment.
______ is a dimension of social responsibility that includes hiring minority workers, making safe products, minimizing pollution, using energy wisely, and providing a safe work environment.
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Human resource planning is a dynamic planning process which involves ongoing environmental scanning and an analysis of objectives, strategies, and policies aimed at deciding:
Human resource planning is a dynamic planning process which involves ongoing environmental scanning and an analysis of objectives, strategies, and policies aimed at deciding:
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The MBTI is a personality test that has been used to select candidates who will more likely engage in organizational citizenship behaviors at work. However, critics of this test suggest that the results can change over time as a person's personality develops. Therefore the MBTI personality test may be:
The MBTI is a personality test that has been used to select candidates who will more likely engage in organizational citizenship behaviors at work. However, critics of this test suggest that the results can change over time as a person's personality develops. Therefore the MBTI personality test may be:
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Selection devices that are based upon physical condition of the candidates are known as:
Selection devices that are based upon physical condition of the candidates are known as:
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Which of the following chart shows turnover in an organization?
Which of the following chart shows turnover in an organization?
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The Hawthorne Studies found:
The Hawthorne Studies found:
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According to Maslow's hierarchy of needs, a person who buys a motion detector/burglar alarm for her house is motivated to do so in an attempt to fulfill the following need:
According to Maslow's hierarchy of needs, a person who buys a motion detector/burglar alarm for her house is motivated to do so in an attempt to fulfill the following need:
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Company policy, administration, supervision, interpersonal relations, working conditions, and salary are characterized as:
Company policy, administration, supervision, interpersonal relations, working conditions, and salary are characterized as:
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Which of the following step is important to improve expectancy?
Which of the following step is important to improve expectancy?
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The term "Job Rotation":
The term "Job Rotation":
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Which of the following is NOT included as a basic idea in the definition of marketing? concepts?
Which of the following is NOT included as a basic idea in the definition of marketing? concepts?
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In ______ of marketing, unsatisfied need of the customers are satisfied.
In ______ of marketing, unsatisfied need of the customers are satisfied.
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Which of the following statements is NOT true about services?
Which of the following statements is NOT true about services?
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The degree to which a tool or test measures what it is supposed to measure is known as:
The degree to which a tool or test measures what it is supposed to measure is known as:
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Which of the following would generally have unlimited liability?
Which of the following would generally have unlimited liability?
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What is potentially the biggest advantage of a small partnership over a sole proprietorship?
What is potentially the biggest advantage of a small partnership over a sole proprietorship?
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Which of the following enjoys limited liability?
Which of the following enjoys limited liability?
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In which type of business entity the entire ownership interest is transferable most freely?
In which type of business entity the entire ownership interest is transferable most freely?
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Which of the following is/are the component/s of business?
Which of the following is/are the component/s of business?
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A firm that acquires another firm as part of its overall business strategy is engaging in
A firm that acquires another firm as part of its overall business strategy is engaging in
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That social and psychological factors could significantly affect productivity
That social and psychological factors could significantly affect productivity
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Please choose one which of the following is the treaty designed to remove barriers to the free flow of goods, services, and capital between nations?
Please choose one which of the following is the treaty designed to remove barriers to the free flow of goods, services, and capital between nations?
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Please choose one which of the following is correct about AVL Tree?
Please choose one which of the following is correct about AVL Tree?
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What will be postfix expression of the following infix expression? Infix Expression: a+b*c-d
What will be postfix expression of the following infix expression? Infix Expression: a+b*c-d
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In the call by ______ methodology, a copy of the object is passed to the called function.
In the call by ______ methodology, a copy of the object is passed to the called function.
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Consider the following tree, how many levels does it has?
Consider the following tree, how many levels does it has?
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Consider the following tree, which statement is correct about this tree?
Consider the following tree, which statement is correct about this tree?
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Recursive call of a function use........... data structure.
Recursive call of a function use........... data structure.
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In the statement int& a= b;
In the statement int& a= b;
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The variables which are destroyed automatically when a function's execution ends are:
The variables which are destroyed automatically when a function's execution ends are:
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The worst case of searching in binary search tree (BST) is:
The worst case of searching in binary search tree (BST) is:
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In simple implementation of stack, isFull() method is used due to ______
In simple implementation of stack, isFull() method is used due to ______
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In which of the traversal methods, recursion can not be applied?
In which of the traversal methods, recursion can not be applied?
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How can we calculate the height of tree ?
How can we calculate the height of tree ?
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What will be the resultant tree after deleting the node 2 from the tree given below.
What will be the resultant tree after deleting the node 2 from the tree given below.
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Consider the following AVL tree. Insert a new node with key of 12. No need to show all steps, just draw the final AVL tree.
Consider the following AVL tree. Insert a new node with key of 12. No need to show all steps, just draw the final AVL tree.
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Show the result of inserting the values 10, 80, 12, 70, 90, 60, 13, 16, 95, 97 into an empty AVL Tree. You have to show only the complete AVL tree, steps are not required.
Show the result of inserting the values 10, 80, 12, 70, 90, 60, 13, 16, 95, 97 into an empty AVL Tree. You have to show only the complete AVL tree, steps are not required.
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Explain the priority queue with the help of real world examples?
Explain the priority queue with the help of real world examples?
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Each operator in a postfix expression refers to the previous ______ operand(s).
Each operator in a postfix expression refers to the previous ______ operand(s).
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Which one of the following calling methods does not change the original value of the argument in the calling function?
Which one of the following calling methods does not change the original value of the argument in the calling function?
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Which one of the following statements is NOT correct?
Which one of the following statements is NOT correct?
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Suppose that the class declaration of SomeClass includes the following function prototype. bool LessThan( SomeClass anotherObject); Which of the following tests in the client code correctly compares two class objects alpha and beta?
Suppose that the class declaration of SomeClass includes the following function prototype. bool LessThan( SomeClass anotherObject); Which of the following tests in the client code correctly compares two class objects alpha and beta?
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A queue is a ______ data structure, whereas a stack is a ______ data structure.
A queue is a ______ data structure, whereas a stack is a ______ data structure.
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Which one of the following operators has higher priority than all of others?
Which one of the following operators has higher priority than all of others?
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Each node in Binary Search Tree has ______ pointers.
Each node in Binary Search Tree has ______ pointers.
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Four statements about trees are below. Three of them are correct. Which one is INCORRECT?
Four statements about trees are below. Three of them are correct. Which one is INCORRECT?
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Which of the following is "TRUE" about arrays?
Which of the following is "TRUE" about arrays?
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Searching an element in an AVL tree take maximum in AVL tree, time (where n is no. of nodes ______
Searching an element in an AVL tree take maximum in AVL tree, time (where n is no. of nodes ______
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There is/are case/s for rotation in an AVL tree, ______
There is/are case/s for rotation in an AVL tree, ______
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Which one of the following is correct in respect of the above statements regarding the Binary trees?
Which one of the following is correct in respect of the above statements regarding the Binary trees?
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If one converts the above expression into postfix, what would be the resultant expression?
If one converts the above expression into postfix, what would be the resultant expression?
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Which of the following is a non linear data structure?
Which of the following is a non linear data structure?
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“+” is a ______ operator.
“+” is a ______ operator.
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In an array we can store data elements of different types.
In an array we can store data elements of different types.
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In an array list the current element is ______
In an array list the current element is ______
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Study Notes
Business Factors
- External Factors: Demographics, economic, social, and natural factors can all influence a business.
-
Internal Factors:
- Sole Proprietorship: Simple, easy to start, no legal registration required, one owner, unlimited liability.
- Partnership: Two or more individuals, often with shared responsibilities and profits, requires more formal legal structure, unlimited liability for each partner.
- Company: Large entity, requires significant legal and financial setup, offers limited liability and shareholder ownership.
Business Plan and Strategy
-
Essential Elements of a Business Plan:
- Objectives: What the company aims to achieve
- Marketing: Strategies to promote products or services
- Financial: Projected income and expenses
-
Business Acquisitions:
- A strategic acquisition involves buying another company to benefit from the target company's resources or market position.
International Trade
- Trade Balance: Records a country's total exports minus total imports - known as the visible trade balance.
- Balance of Payments: A broader measure that includes trade in goods and services, income and investment flows.
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International Agreements:
- GATT (General Agreement on Tariffs and Trade): Aims to reduce trade barriers between nations.
- EU (European Union): Large trade bloc with internal free movement of goods, capital, and labor.
- WTO (World Trade Organization): Succeeding GATT, provides a framework for trade negotiations and settlement of disputes.
- NAFTA (North American Free Trade Agreement): Reduced trade barriers between Canada, Mexico, and the United States.
Corporate Social Responsibility
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Dimensions of Corporate Social Responsibility:
- Philanthropy: Donating to charitable causes and supporting community initiatives.
- Policy: Creating responsible business practices.
- Governance: Ethical leadership and decision-making.
- Responsibility: Minimizing impact on the environment, ensuring worker safety, and addressing ethical concerns.
Human Resource Management
- Human Resource Planning: Determines the quantity and quality of employees needed to meet organizational goals.
- Personality Tests: Used in hiring to assess potential employee suitability.
- Employee Selection: Methods for evaluating candidates include medical tests, background checks, aptitude tests, and job applications
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Employee Retention: Strategies for keeping valuable employees include:
- Training and Development: Providing employees with the skills and knowledge they need.
- Job Rotation: Changing tasks to prevent boredom and enhance learning.
- Employee Empowerment: Giving employees more responsibility and autonomy.
- Hawthorne Studies: Demonstrated the impact of social and psychological factors on employee productivity.
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Motivation Theories:
- Maslow's Hierarchy of Needs: Categorizes needs from basic survival to self-actualization.
- Herzberg's Two-Factor Theory: Identifies hygiene factors (preventing dissatisfaction) and motivating factors (leading to satisfaction).
- Expectancy Theory: Focuses on employee expectations about their effort, performance, and rewards.
Marketing
- Marketing Basics: A comprehensive approach including product development, pricing, promotion, and distribution, emphasizing customer satisfaction and company profitability.
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Marketing Stages:
- Product-Oriented: Primarily focused on product development.
- Marketing-Oriented: Emphasizes understanding and meeting customer needs.
- Social-Oriented: Considers social responsibility and long-term sustainability.
- Services Marketing: Deals with the unique characteristics of services, including their intangibility, perishability, and variability.
Measurement
- Validity: Accuracy of a tool or test in measuring what it is designed to measure.
- Reliability: Consistency of the results over time.
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Description
This quiz explores various external and internal factors influencing businesses, including types of ownership like sole proprietorships and partnerships. Additionally, it covers essential elements of a business plan and the concepts of business acquisition and international trade. Test your knowledge of these fundamental business concepts!