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Introduction to Business Management Week 1

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Introduction to Business Management Week 1

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Questions and Answers

Which of the following are included in the internal environment of a business?

Government regulations

Competitor actions

Economic conditions

Employee morale (correct)

Technological advancements

What are the 4 core functions of management?

Planning, Organizing, Implementing, Reviewing

Planning, Organizing, Leading, Controlling (correct)

Identifying, Planning, Leading, Evaluating

Controlling, Leading, Implementing, Evaluating

What does the acronym SWOT stand for?

Strengths, Weaknesses, Opportunities, Threats

What are three types of organizational structures?

Simple, Functional, Multidivisional Signup and view all the answers

A strong organizational culture can have a negative impact on employee engagment.

False Signup and view all the answers

Which of the following leadership styles is most effective in times of crisis?

Commanding Signup and view all the answers

Which of the following is NOT a key benefit of effective risk management?

Increased Profits Signup and view all the answers

What are the 3 key elements of the 'triple bottom line'?

People, Planet, Profit Signup and view all the answers

Which of the following components is NOT a key part of the marketing mix?

Production Signup and view all the answers

What is the primary goal of market research for businesses?

Understanding customer needs and preferences Signup and view all the answers

What are two key benefits of strong branding for a business?

Customer Loyalty & Differentiate from Competitors Signup and view all the answers

Which of the following is NOT a key element of digital marketing?

Direct Mail Marketing Signup and view all the answers

The COVID-19 pandemic slowed down the shift to e-commerce.

False Signup and view all the answers

State 3 key aspects of the role of technology in modern business.

Digital Transformation, Artificial Intelligence, Big Data Signup and view all the answers

Which of the following practices is NOT a key aspect of sustainable business?

Aggressive Marketing Campaigns Signup and view all the answers

Study Notes

Additional sections: PESTEL Analysis, Porter's Five Forces, SWOT Analysis, Organizational Culture and Structure, Leadership Styles, Decision-Making process, Role of HRM, Marketing, and Global Business Strategies...

Various slides are summarized to provide a detailed overview.

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Description

Explore the foundational concepts of business management in this introductory course. In week 1, we will discuss 'What is Management?' and engage in activities to understand students' goals and expectations for the class. This course aims to provide clarity on the core functions and objectives of effective management.