Test Your Business Management Skills With This Quiz

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  • 1/12 Questions

    A plan is a proposed method to be used to achieve the organization's goals and objectives.

    • True
    • False
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About This Quiz

Would you like to test your business management skills? For this quiz, you will be responsible for describing a compromising management style, explaining an authoritarian management style, what needs to be done when you are the manager of a business and all the different kinds of planning involved in maintaining a business. This quiz will teach you what you need to learn about having business management skills.

Test Your Business Management Skills With This Quiz - Quiz

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  • 2. 

    Planning and goal setting are important because they give the manager focus and direction.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    Planning and goal setting are important because they provide a clear roadmap for managers to follow. By setting specific goals and creating a plan to achieve them, managers can prioritize tasks, allocate resources effectively, and track progress towards their objectives. This helps them stay focused on what needs to be accomplished and ensures that their efforts are directed towards the right direction. Without planning and goal setting, managers may lack direction and may struggle to make informed decisions. Therefore, it is true that planning and goal setting are important for managers to have focus and direction.

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  • 3. 

    Action planning is...

    • Short term planning.

    • Long term planning.

    Correct Answer
    A. Short term planning.
    Explanation
    Action planning refers to the process of setting specific goals and determining the necessary steps to achieve these goals within a defined timeframe. Short term planning involves creating action plans for immediate or near-future tasks or objectives. It focuses on the immediate actions required to address a particular situation or problem. On the other hand, long term planning involves setting goals and creating strategies for a more extended period, usually spanning over several months or years. Since action planning is described as short term planning, it suggests that it is focused on immediate actions rather than long-term goals or strategies.

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  • 4. 

    One management role in the business process is to PLAN.

    • True

    • False

    Correct Answer
    A. True
    Explanation
    The statement is true because planning is indeed a crucial management role in the business process. Planning involves setting goals, determining strategies, and creating action plans to achieve those goals. It helps in organizing resources, allocating tasks, and making informed decisions. Without proper planning, businesses may face difficulties in achieving their objectives and may struggle to adapt to changing circumstances. Therefore, planning plays a vital role in effectively managing and guiding the business process.

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  • 5. 

    A business can set goals in a number of areas. Goals are vital in assisting the manager to focus on the details of...

    • Loan repayments.

    • The strategic plan.

    • Short term cash flow.

    Correct Answer
    A. The strategic plan.
    Explanation
    Setting goals is important for any business as it helps the manager to prioritize and focus on the key aspects of the business. By setting goals in the strategic plan, the manager can align the objectives of the business with its long-term vision and mission. This allows the manager to make informed decisions, allocate resources effectively, and measure the progress towards achieving the overall strategic goals of the business. Setting goals in the strategic plan ensures that the business stays on track and moves in the right direction to achieve its desired outcomes.

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  • 6. 

    Once a business has been established, ongoing monitoring by the owner is no longer necessary.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The statement is false because ongoing monitoring by the owner is essential for the success and growth of a business. Even after a business has been established, the owner needs to continuously monitor various aspects such as financial performance, customer satisfaction, market trends, and competition. Ongoing monitoring allows the owner to identify and address any issues or opportunities that may arise, make informed decisions, and ensure that the business remains competitive and profitable in the long run. Neglecting monitoring can lead to missed opportunities, poor decision-making, and ultimately, the decline or failure of the business.

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  • 7. 

    How would you describe a democratic management style?

    • A manager who likes to make all the decisions.

    • A manager who sets the goals of the business and communicates 'downwards' to employees.

    • A manager who involves employees in decision making and aims to benefit both the business and personnel as a result of decisions that are made.

    Correct Answer
    A. A manager who involves employees in decision making and aims to benefit both the business and personnel as a result of decisions that are made.
    Explanation
    A democratic management style is characterized by a manager who involves employees in decision making and aims to benefit both the business and personnel as a result of decisions that are made. This style promotes open communication, collaboration, and empowerment among employees, allowing them to have a voice in the decision-making process. It recognizes the value of employee input and strives to create a positive and inclusive work environment where everyone's opinions are valued and considered. This approach ultimately leads to higher employee engagement, satisfaction, and productivity, as well as better business outcomes.

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  • 8. 

    Strategic planning is...

    • Short term planning.

    • Long term planning.

    Correct Answer
    A. Long term planning.
    Explanation
    Strategic planning refers to the process of setting long-term goals and determining the best approach to achieve them. It involves analyzing the current situation, identifying opportunities and threats, and formulating strategies to guide the organization's actions over an extended period. Short-term planning, on the other hand, focuses on immediate actions and objectives. Therefore, the correct answer is long-term planning as strategic planning involves making decisions that have a lasting impact on the organization's future.

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  • 9. 

    How would you describe an authoritarian (or controlling) management style?

    • A manager who involes employees in decision making.

    • A manager who asks staff for feedback before making a decision.

    • A manager who likes to make all decisions by him/herself.

    Correct Answer
    A. A manager who likes to make all decisions by him/herself.
    Explanation
    An authoritarian (or controlling) management style is characterized by a manager who likes to make all decisions by him/herself. This type of manager does not involve employees in decision-making processes and prefers to have complete control over all aspects of the work. They may not seek or value feedback from staff and tend to dictate tasks and expectations rather than fostering collaboration and empowerment. This management style can lead to a lack of employee engagement, stifled creativity, and limited opportunities for growth and development within the team.

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  • 10. 

    Planning is...

    • Where management directs employees on "what to do."

    • A management role where the procedures for meeting organisational goals are developed.

    • A process of controlling the assets of the business.

    Correct Answer
    A. A management role where the procedures for meeting organisational goals are developed.
    Explanation
    Planning is a management role where the procedures for meeting organizational goals are developed. This involves setting objectives, determining the necessary steps to achieve those objectives, and allocating resources effectively. Planning helps in identifying potential challenges and opportunities, making informed decisions, and ensuring that the organization moves in the desired direction. It is an essential function of management as it provides a roadmap for the organization's success and helps in coordinating and aligning efforts towards common goals.

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  • 11. 

    How would you describe a compromising management style?

    • A manager who likes to make all decisions by him/herself.

    • A manager who involes employees in decision making.

    • A manager who sets the goals of the business and communicates 'downwards' to employees.

    Correct Answer
    A. A manager who involes employees in decision making.
    Explanation
    A compromising management style refers to a manager who involves employees in decision making. This style emphasizes collaboration and seeking input from team members before making decisions. It values the opinions and contributions of employees, fostering a sense of ownership and engagement within the team. This approach promotes open communication, teamwork, and a democratic decision-making process, ultimately leading to more effective and inclusive outcomes.

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  • 12. 

    How would you describe an accommodating (or laissez-faire) manager?

    • A manager who avoids making decisions, instead, leaving it up to other staff.

    • A manager who involves employees in decision making and aims to benefit both the business and personnel as a result of decisions that are made.

    • A manager who likes communication with employees to go in both directions: from management to emoployees, and back upward to the manager.

    Correct Answer
    A. A manager who avoids making decisions, instead, leaving it up to other staff.
    Explanation
    An accommodating (or laissez-faire) manager is someone who avoids making decisions and instead delegates the decision-making process to other staff members. This type of manager tends to be hands-off and allows employees to have more autonomy and responsibility in decision making. They may provide guidance and support when needed, but ultimately they trust their team to make the right decisions.

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Quiz Review Timeline (Updated): Mar 22, 2023 +

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  • Current Version
  • Mar 22, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Apr 05, 2009
    Quiz Created by
    Joalston
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