IB Business And Management Business Organisation & Environment: 1.3

50 Questions

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Business Organisation Quizzes & Trivia

Questions and Answers
  • 1. 
    Read the definitions and match them with the correct business terms from the list
    • A. The long-term goals of a business that provide direction for setting its objectives and targets
    • A.
    • B. This declaration sets out the vision of an organisation to provide a shared purpose and direction for all those involved in the firm
    • B.
    • C. Refers to the obligations that a business has towards its stakeholders and society as a whole
    • C.
    • D. The medium to long term actions of a business (SMART)
    • D.
    • E. The (very) long term desire or aspiration of an organisation
    • E.
    • F. The medium-term to long-term goals and targets of an organisation
    • F.
  • 2. 
    Read the definitions and match them with the correct business terms from the list
    • A. The long-term goals of a business that provide direction for setting its objectives and targets
    • A.
    • B. The medium-term to long-term goals and targets of an organisation
    • B.
    • C.
    • C.
    • D. The medium to long term actions of a business (SMART)
    • D.
    • E. The (very) long term desire or aspiration of an organisation
    • E.
    • F.
    • F.
    • G.
    • G.
  • 3. 
    Select the odd one out from each of the options below
    • A. 

      Tactical objectives

    • B. 

      Operational objectives

    • C. 

      Strategic objectives

    • D. 

      Secondary objectives

  • 4. 
    Select the odd one out from each of the options below
    • A. 

      Growth

    • B. 

      Sales maximisation

    • C. 

      Survival

    • D. 

      Acquisition

  • 5. 
    Select the odd one out from each of the options below
    • A. 

      To control

    • B. 

      To select

    • C. 

      To direct

    • D. 

      To motivate

  • 6. 
    Select the odd one out from each of the options below
    • A. 

      To improve quality of customer service

    • B. 

      To become the world's market leader

    • C. 

      To reduce absenteeism and labour turnover

    • D. 

      To improve productive efficiency

  • 7. 
    If a business behaves ethically, its profits will fall in the short run
    • A. 

      True

    • B. 

      False

  • 8. 
    A business that adopts an ethical approach will tend to improve its profits in the long run
    • A. 

      True

    • B. 

      False

  • 9. 
    Strategic objectives refer to the general organisational objectives of a business that encompass its long-term goals
    • A. 

      True

    • B. 

      False

  • 10. 
    A business that has an ethical policy in the workplace is said to have an ethical stance
    • A. 

      True

    • B. 

      False

  • 11. 
    The amount of recycling a firm undertakes is likely to be reported in the firm's social audit
    • A. 

      True

    • B. 

      False

  • 12. 
    All businesses in the private sector aim to make a profit whereas those operating in the public sector aim primarily to provide a service to the general public
    • A. 

      True

    • B. 

      False

  • 13. 
    For most businesses, the objectives of shareholders are more important than those of other stakeholders
    • A. 

      True

    • B. 

      False

  • 14. 
    Being socially responsible is the same as being environmentally responsible
    • A. 

      True

    • B. 

      False

  • 15. 
    Ethical corporate responsibility considers the welfare of the workforce
    • A. 

      True

    • B. 

      False

  • 16. 
    The overall purpose of an organisation can often be seen from its mission statement
    • A. 

      True

    • B. 

      False

  • 17. 
    The declaration of the future identity of a business is known as its
    • A. 

      Business objectives

    • B. 

      Corporate identity

    • C. 

      Mission statement

    • D. 

      Vision statement

  • 18. 
    What is the concept used to describe what an organisation is in busines for and what it intends to achieve?
    • A. 

      Business plan

    • B. 

      Business objectives

    • C. 

      Mission statement

    • D. 

      Vision statement

  • 19. 
    Objectives are
    • A. 

      What a business wants to achieve

    • B. 

      The purpose for a firm's existence

    • C. 

      Qualitative statements of a firm's direction

    • D. 

      The major goals of an organisation

  • 20. 
    Possible objectives of public sector organisations are least likely to include:
    • A. 

      To provide a service to the community

    • B. 

      To survive

    • C. 

      To break even as soon as possible

    • D. 

      To maximise levels of profits

  • 21. 
    Advantages of setting ethical objectives do not include
    • A. 

      Avoiding bad publicity

    • B. 

      An obligation to provide shareholder dividends

    • C. 

      A possible unique selling point of the firm

    • D. 

      Impact on staff morale

  • 22. 
    Businesses do not always consider acting in an ethical way. Which of the following does not explain why this may be the case?
    • A. 

      Ethical objectives can conflict with profit objectives

    • B. 

      There may not be any government constraints

    • C. 

      Compliance costs are low

    • D. 

      Ethics might not be important to the firm

  • 23. 
    A social audit does not include the firm's
    • A. 

      Financial performance

    • B. 

      Use of recycled materials

    • C. 

      Treatment of the workforce

    • D. 

      Waste disposal processes

  • 24. 
    Which of the following is not an example of ethical policies adopted by a business?
    • A. 

      Fringe benefits offered to all members of staff

    • B. 

      Sponsoring charity events in the community

    • C. 

      Fair trade terms with business in less economically developed countries

    • D. 

      The safe disposal of waste materials

  • 25. 
    Many businesses strive to be the market leader. Which of the following methods is least likely to achieve this objective?
    • A. 

      Maintain customer satisfaction

    • B. 

      Competitive prices

    • C. 

      Maintain product quality

    • D. 

      Have high labour turnover

  • 26. 
    A code of practice is not likely to include details concerning
    • A. 

      Social responsibilities

    • B. 

      Expectations of employees in the workplace

    • C. 

      Ethical marketing

    • D. 

      Statutory employment rights

  • 27. 
    Objectives do not include
    • A. 

      Provide a focus for the workforce

    • B. 

      Help to assess the performance of a business

    • C. 

      Suggest how goals should be achieved

    • D. 

      Inform strategic planning

  • 28. 
    What details may not be included in a social audit?
    • A. 

      Ethical marketing practices

    • B. 

      Treatment of employees

    • C. 

      Defect rates

    • D. 

      Accident rates

  • 29. 
    The process by which a busines reviews and evaluates the effcts of its activitites on all of its stakeholders is known as
    • A. 

      An ethical code of practice

    • B. 

      Social corporate responsibility

    • C. 

      Social auditing

    • D. 

      Environmental auditing

  • 30. 
    Unethical business practices do not include
    • A. 

      Setting higher prices to raise profit margins

    • B. 

      The production of demerit goods such as alcohol and tobacco

    • C. 

      Lending money to companies that make weapons of war

    • D. 

      Deliberately using offensive tactics to market a firm's products

  • 31. 
    What does the 'R' in SMART objectives stand for?
    • A. 

      Realistic

    • B. 

      Rational

    • C. 

      Reasonable

    • D. 

      Righteous

  • 32. 
    What does the 'S' in SMART objectives stand for?
    • A. 

      Selective

    • B. 

      Select

    • C. 

      Specific

    • D. 

      Support

  • 33. 
    What does the 'M' in SMART objectives stand for?
    • A. 

      Measurable

    • B. 

      Metric

    • C. 

      Maintain

    • D. 

      Manageable

  • 34. 
    What does the 'A' in SMART objectives stand for?
    • A. 

      Ascertain

    • B. 

      Ability

    • C. 

      Available

    • D. 

      Achievable

  • 35. 
    What does the 'T' in SMART objectives stand for?
    • A. 

      Trending

    • B. 

      Tracking

    • C. 

      Time specific

    • D. 

      Total cost

  • 36. 
    Within the hierarchy of objectives, match a level with a possible action
    • A. Aim
    • A.
    • B. Corporate objectives
    • B.
    • C. Divisional objectives
    • C.
    • D. Departmental objectives
    • D.
    • E. Individual targets
    • E.
  • 37. 
    • A. Aim
    • A.
    • B. Corporate objectives
    • B.
    • C. Divisional objectives
    • C.
    • D. Departmental objectives
    • D.
    • E. Individual targets
    • E.
  • 38. 
    ____________:  A document detailing a company's rules and guidelines on staff behaviour that must be followed by all employees
  • 39. 
    _____________: Assess the impact of a business on the environment (independent is best)
  • 40. 
    ______________: An independent report on the impact a business has on society. This can cover pollution levels, health and safety record, sources of supplies, customer satisfaction and contribution to the community
  • 41. 
    ___________ Objectives: Short-term or medium-term goals or targets which must be achieved for an organisation to attain its corporate objectives
  • 42. 
    __________ Objectives: Important, broadly defined targets that a business much reach to achieve its overall aim
  • 43. 
    Tactical/divisional objectives versus strategic/corporate objectives
    • A. Set by senior managers for each department or division
    • A.
    • B. Set by board of directors or very senior managers
    • B.
  • 44. 
    Tactical/divisional objectives versus strategic/corporate objectives
    • A. Shorter-term goals (6-12 months)
    • A.
    • B. Longer term goals for the whole organisation (next few years)
    • B.
  • 45. 
    Tactical/divisional objectives versus strategic/corporate objectives
    • A. Involve fewer resources
    • A.
    • B. Often high-risk objectives involving many resources
    • B.
  • 46. 
    Tactical/divisional objectives versus strategic/corporate objectives
    • A. Often easier to change or reverse
    • A.
    • B. Difficult to reverse or change once established
    • B.
  • 47. 
    ____________: A statement of the business's core aims, phrased in a way to motivate employees and to stimulate interest by outside groups
  • 48. 
    ___________: A statement of what the organisation would like to achieve or accomplish in the long term
  • 49. 
    The 'A'  in S.M.__.R.T. objectives
  • 50. 
    The 'M'  in S.__.A.R.T. objectives