QCM : Fundamentals of Business Management — 14 questions

Questions et réponses du QCM

1. Which statement best describes efficiency in an operation?

The long-term target that guides organizational direction
The ability to perform tasks well by using inputs and outputs effectively
The extent to which customer needs are met by the operation
The ability to achieve stated goals regardless of inputs used

The ability to perform tasks well by using inputs and outputs effectively

Explication

Efficiency is about using inputs and outputs effectively to perform tasks well. Effectiveness is different because it focuses on achieving goals, not on input usage.

2. What are strategic goals in an organization?

Long-term targets that guide decisions and direction over the medium term
Short-term targets for individual departments
Daily operating targets for frontline employees
Measures of how well resources are converted into output

Long-term targets that guide decisions and direction over the medium term

Explication

Strategic goals are long-term targets that shape the organization’s direction over the medium term. They are broader than day-to-day operational targets.

3. Which sequence correctly reflects the planning process?

Organising, goal-setting, implementation, reactive planning
Implementation, goal-setting, monitoring, developing plans
Goal-setting, organising, monitoring, implementation
Goal-setting, developing plans, implementation, monitoring and feedback

Goal-setting, developing plans, implementation, monitoring and feedback

Explication

Planning begins with goal-setting, then developing plans, followed by implementation and monitoring/feedback. The other sequences place the steps in the wrong order.

4. What does organising mean in management?

Measuring the gap between planned and actual achievement
Ranking human needs from basic to higher-level needs
Choosing the most profitable marketing channel
Setting up arrangements and mechanisms so a plan can be carried out

Setting up arrangements and mechanisms so a plan can be carried out

Explication

Organising is about creating the structures and arrangements needed to execute a strategy or plan. Measuring gaps is not the definition of organising.

5. Which item is not one of the main steps in human resource planning?

Job specification
Change in organisation structure
Job analysis and description
Forecasting future workforce needs

Change in organisation structure

Explication

Human resource planning includes job analysis/description, job specification, and forecasting/planning future workforce needs. Change in organisation structure is not listed as a step.

6. What does job specification describe?

The abilities and attributes required to perform a job effectively
The tasks and responsibilities a job involves
The relationship between medium-term suppliers and operations
The future number of employees the firm will need

The abilities and attributes required to perform a job effectively

Explication

Job specification focuses on the qualifications, abilities, and attributes needed for effective performance. Tasks and responsibilities belong to job analysis and description.

7. Which processing system is most associated with producing goods for a specific customer request rather than for inventory?

Continuous processing
Batch processing
Job processing
Assembly processing

Job processing

Explication

Job processing is used when goods are made for a specific request, often in low volume and high customization. Continuous processing is more typical of standardized output.

8. What is supply chain management mainly concerned with?

Improving quality only within the business itself
Comparing one operation with another operation
Selecting only the cheapest available supplier
Coordinating activities across the supply network to support delivery

Coordinating activities across the supply network to support delivery

Explication

Supply chain management coordinates activities across the supply network to support product and service delivery. It is broader than simply choosing suppliers.

9. What is the marketing mix?

A set of controllable marketing variables used to market a product or service
A pricing rule used only for industrial goods
The central technical and physical qualities of a product
A list of production methods used inside the firm

A set of controllable marketing variables used to market a product or service

Explication

The marketing mix consists of controllable variables used to market a product or service. It is broader than product features alone.

10. Which component is part of the marketing mix?

Promotion
Production capacity
Practicality
Profitability

Promotion

Explication

Promotion is one of the main marketing mix components, along with product and distribution/place. Practicality is not part of the mix.

11. What best describes a viable business idea?

An idea that is easy to launch with no risk
An idea that is suitable only for large firms
An idea that mainly focuses on advertising techniques
An idea that can be transformed into a profitable business

An idea that can be transformed into a profitable business

Explication

A viable business idea is one that can be turned into a profitable business. The other options describe ease of launch, marketing focus, or firm size rather than viability.

12. Which statement best describes the purpose of a business plan?

It answers key questions about starting, operating, and justifying a business
It explains how to divide work among employees
It records daily sales and expense transactions
It lists only the products a business will sell

It answers key questions about starting, operating, and justifying a business

Explication

A business plan is a plan of action that covers the key questions of starting, operating, and justifying a business. The other options describe operational details or bookkeeping, not the purpose of a business plan.

13. What does corporate citizenship refer to?

Proactive actions by companies that contribute positively to society
Legal restrictions that limit how many customers a company can serve
A financing choice that determines how interest is compounded
A method of calculating a firm's monthly profit

Proactive actions by companies that contribute positively to society

Explication

Corporate citizenship means companies take proactive actions that benefit society. The other choices describe unrelated ideas such as legal limits, profit calculation, or financing mechanics.

14. What does acquisition of capital relate to?

The process of setting employee performance targets for a department
Capital structure choices and the organization of assets that support wealth maximization
The daily control of raw materials in the warehouse
The selection of promotional media for a new product

Capital structure choices and the organization of assets that support wealth maximization

Explication

Acquisition of capital is linked to capital structure decisions and organizing assets to support wealth maximization. The other options describe human resources, marketing, or inventory control.

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Management functions — goals?

Achieve organizational effectiveness and efficiency.

Planning, organising, leading — sequence?

Goals → Plans → Implementation → Monitoring.

Human resource planning steps?

Job analysis, job description, forecasting, future planning.

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