Business Management Quiz Questions

Business Studies

• An appeal against the order of the State Commission can be filed in the National Commission.

Managerial Control

• One modern technique of managerial control is unknown due to limited information.

Planning

• Planning is no guarantee of success of a business enterprise.
• Two limitations of planning are unknown due to limited information.

Human Resource Management

• When deciding whether to promote an existing employee or select a candidate from an external source, Radha should consider the strengths and weaknesses of both options and choose the one that best fits the company's needs.
• The company may benefit from promoting an existing employee who is already familiar with the organization's culture and policies.
• On the other hand, selecting a candidate from an external source may bring in fresh perspectives and skills.

Selection Process

• Background checks and medical examinations are necessary in the process of selection to ensure the candidate is trustworthy and capable of performing the job requirements.

Consumer Rights

• As a consumer, it is essential to keep in mind the following responsibilities while buying a new product:
• Check the product's features and warranty.
• Inspect the product's quality and packaging.
• Compare prices and features with other similar products.

Principles of Management

• The two principles of management being violated in the scenario are:
• Scalar Chain (unity of command): each employee should receive orders from only one supervisor.
• Unity of Direction: there should be a single plan and a single direction for a group of activities.

Time Study

• The purpose of time study is to determine a fair day's work.

Elements of Directing

• The correct combination of elements and main purposes is:
• Supervision: overseeing performance.
• Motivation: fulfilling needs.
• Leadership: introducing change.
• Communication: instructing and feedback.

Maslow's Hierarchy of Needs

• Physiological needs include clothing, food, and water.

Marketing Philosophy

• The production concept focuses on the product itself.

Media Selection

• Reach, frequency, and impact are three major concerns underlying media selection.

Entrepreneurship

• To establish a flying car venture in India, an entrepreneur would need to:
• Conduct market research and feasibility studies.
• Secure necessary permits and licenses.
• Develop a business plan and secure funding.

Working Capital Requirement

• The working capital requirement is:
• Low for bread due to its quick production and sale cycle.
• High for automobiles due to their complex production and sale cycle.
• High for made-to-order furniture due to its customization and production cycle.
• High for refrigerators due to their complex production and sale cycle.
• High for woollen garments due to their seasonal demand.

Organizational Structure

• The organization is using a divisional structure.
• Three advantages of a divisional structure are:
• Increased efficiency and specialization.
• Better decision-making and control.
• Improved communication and coordination.

Organising Function

• The organizing function of management plays a crucial role in any business enterprise because:
• It helps to allocate resources efficiently.
• It enables the accomplishment of organizational goals.
• It enhances the overall productivity of the organization.

Barriers to Communication

• The statement "It is difficult to be understood" highlights the barriers to effective communication.

Directing Function

• Three principles that guide and help the directing function of management are:
• Motivation and inspiration.
• Effective communication.
• Leadership and supervision.

Capital Market

• The stock exchange is referred to as a secondary market.
• It performs the function of providing a platform for buying and selling securities.
• The primary market is where companies raise capital through the issuance of new securities.

Coordination

• Coordination is required for the efficient working of a business enterprise because it enables the integration of different departments and functions.