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Introduction to Business: Managerial Functions

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Introduction to Business: Managerial Functions

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Questions and Answers

What is the primary objective of directing in a business organization?

To maximize profits
To supervise employees only
To regulate business operations only
To accomplish predetermined objectives of an enterprise (correct)

What is a sub-function of the directing function in management?

Motivation
Leadership
Supervision
All of the above (correct)

What is the key difference between a business and a business organization?

A business is run by one person, while a business organization has two or more people (correct)
A business is always small, while a business organization is large
A business makes a profit, while a business organization does not
A business provides services, while a business organization makes goods

What is the main reason why organizations are formed?

To overcome the limitations of individuals (C) Signup and view all the answers

What is the primary purpose of a business organization?

To achieve predetermined objectives (C) Signup and view all the answers

What is the relationship between a business and a business organization?

A business is a part of a business organization (A) Signup and view all the answers

What is the purpose of standardisation in marketing?

To ensure uniformity of a product's size, shape, design, colour, and physical properties (A) Signup and view all the answers

What is the significance of pricing in marketing?

It affects all the parties involved in production, distribution, and consumption (B) Signup and view all the answers

What is the role of packaging in marketing?

It contains, protects, and identifies a product, and is an important sales tool (B) Signup and view all the answers

What is the main objective of advertising in marketing?

To advertise commercial products or services to prospective customers (C) Signup and view all the answers

What is involved in distribution management in marketing?

The decision regarding the channel of distribution and its management (D) Signup and view all the answers

What is grading in marketing?

The process of storing goods in several grades or classes (C) Signup and view all the answers

What is the main goal of production?

To satisfy human wants (B) Signup and view all the answers

What is the role of Financial Management in a business?

To accumulate and utilize required capital (D) Signup and view all the answers

What is Total Quality Management?

A continuous effort to ensure customer loyalty (A) Signup and view all the answers

What is the primary function of the HR department?

To motivate employees to contribute to organisational goals (D) Signup and view all the answers

What is the purpose of the marketing function?

To transfer goods and services to the ultimate consumer (B) Signup and view all the answers

What is the main objective of production management?

To convert raw materials into finished products (B) Signup and view all the answers