Test Answers on business management

Business Management review

Which of the following is a quality control approach that emphasizes a relentless pursuit of higher quality and lower costs? Continuous improvement The yearly auditing review of Pilgrim Industries is scheduled for next month. Katrina Aldridge is preparing for that audit and is also preparing her budget for the coming year. Which of these budgets […]

Read more
IB Business and Management Marketing 4.3 PRODUCT

question Boston Matrix answer Is a tool for analysing the product portfolio of a business. It measures whether products have a high or low MARKET SHARE and operate in HIGH or LOW GROWTH industries. question Brand development answer Is a long-term product strategy that involves strengthening the name and image of a brand in order […]

Read more
4.4 Market research – IB Business Management

question Market research answer The process of collecting, analyzing and reporting data related to a particular market question Purpose of market research answer – To identify consumer needs and wants – To assist a business in predicting what is likely to happen in the future – To reduce the risk of product failure – To […]

Read more
Small Business Management Final (11, 12, and 15)

question Wink Natural Cosmetics, the company profiled in the opening feature in Chapter 11, sells cosmetics products. According to the case, the company’s initial marketing efforts were aimed at ________. answer building the company’s brand question Kyle White owns a sporting goods store that appeals to hunters and fishermen. The market that Kyle is trying […]

Read more
Chapter 13 Business management

question Intermediary answer Individuals or firms that helps to distribute a product or goods. QUESTION:A(n) _—Intermediary—_ is an individual or firm that serves as a go-between when moving products from producer to consumer? question Distribution Mix answer The combination of distribution channels by which a firm gets products to end users. QUESTIONS:The –_Distribution Mix_–is a […]

Read more
Small Business Management Chapter 7

question How can marketing be defined? answer … question What are the components of an effective marketing philosophy? answer … question What does a consumer orientation imply about the business answer … question A firms marketing philosophy determines: answer How it’s marketing activities are developed. question The firms marketing philosophy’s, used to achieve business goals, […]

Read more
Business Management: Chapter 20

question Marketing activities, when performed well, help to match ? and ?. answer production and consumption question What is the goal of effective marketing? answer to create and maintain satisfying exchange relationships question Do marketing jobs exist in firms that do not have marketing as the primary focus of the business? answer yes question What […]

Read more
Business Management: Chpt. 4

question In order to be effective, a business plan should always be in writing. answer True question The top managers in a business are involved in planning, but first-level managers such as supervisors are not. answer False question Effective planning is less important to the success of a business than other management functions, such as […]

Read more
Business Organizations & Management Chapter 13

question Which of the following represents a technique used to obtain primary data? answer Conducting personal interviews with potential customers question Which of the following is most consistent with a relationship marketing strategy? answer Development of a website that seeks customer feedback and allows customers to communicate with each other question Successful marketing researchers: answer […]

Read more
IB Business and Management Marketing 4.4 PRICING STRATEGIES

question Cost-Based Pricing answer Setting prices based on the COSTS OF PRODUCTION rather than the level of demand or the prices set by competitors question Cost-Plus Pricing answer Adding a fixed percentage or predetermined amount to the average cost of production to determine the selling price. question Marginal-Cost Price HL answer Basing the price on […]

Read more
4.1 The role of marketing – IB Business Management

question Marketing answer The management process of getting the right product to the right costumer at the right price to the right place and time question Marketing of goods answer The use of the 4 Ps of product, price, place and promotion in the marketing mix question Marketing of services answer The use of the […]

Read more
Business Law Channel Management Financial

question What type of corporation may be owned by just a few people and does not offer its shares for sale to general public? answer Private question Providing marketing information is an important channel activity, businesses rely on marketing information to determine answer Their target markets’ needs and wants question What can a business do […]

Read more
Business Management [IB] 2.5 Organization Culture

question Corporate Culture answer Can be defined as what is considered ‘normal’ to an organization. Represents the character and personality of an organization. Example: How workers behave within the business. question Elements of organizational culture answer The acronym NORMS can be used to remember the interrelated determinants of organization culture. – Nature of the Business: […]

Read more
Intro to Business Management

question Describe the contributions of scientific management to improving worker productivity. What are some of the limitations of this approach? answer Time-motion studies – helped researchers determine the most efficient ways of doing things Principle of motion economy – each job could be broken into elementary motions, each motion was analyzed to make it more […]

Read more
Chapter 4: Business Process Management

question Why be so concerned with processes? answer Processes are how we work at the task level to build value Inefficient or ineffective processes will result in poor performance and possible business failure Excellence in processes will improve competitiveness and business performance question Business Processes answer -Process -Primary Process -Support Process -Development Process question Process […]

Read more
IB Business and Management

question marketing answer management process involved in identifying, anticipating, and satisfying customers profitably question product orientation answer businesses focus on the production process and the products itself question market orientation answer businesses that continually identify, review, and analyze consumers needs question asset-based marketing answer a business develops goods and services that make the best use […]

Read more
IB Business and Management Unit 1.8: Change and the Management of Change

question Change management answer The management process of planning, forecasting, controlling and steering change within an organization. question Change masters answer Skilled managers in the art of change management. They are able to deal with change by adapting and reacting quickly to different scenarios. question Driving forces answer The forces acting for change question Force […]

Read more
IB Business Management Chapter 1

question Business Plan answer The document that sets out the business idea, its goals and objectives, and other details of how the business will operate (such as its marketing, operations, and finance). It is often a crucial part of an attempt to raise external sources of finance. question Businesses answer Organizations involved in the production […]

Read more
SMALL BUSINESS MANAGEMENT TEST I

question A SMALL BUSINESS IS ONE THAT? answer 1. Actively managed by the owners 2. Highly Personalized 3.Largely local in its area of operation 4. Largely dependant on internal sources of capital 5. Independently owned and operated does not dominate the field of operation question A successful growing concern has demonstrated? answer 1. An ability […]

Read more
Business Project Management – Chap 13 pt.2

question MathModelLastSlide & MonthlyStatusReport? answer MathModelLastSlide & MonthlyStatusReport? question Budget=PV=Baseline answer Budget=PV=Baseline question Earned Value (EV) answer Budgeted cost of the work performance. X for a task = (percent complete) x (original budget). Stated differently, EV is the percent of the original budget that has been earned by actual work completed. [BCWP – budgeted cost […]

Read more
IB Business and Management OPERATIONS MANAGEMENT 5.6 Innovation

question Research and development answer The scientific research and technical development of new products and processes question Invention answer The formulation or discovery of new ideas for products or processes question Innovation answer The practical application of new inventions into marketable products question Product innovation answer New, marketable products such as the Apple iPad question […]

Read more

Get instant access to
all materials

Become a Member