Understanding Of Business And Management Quiz

Reviewed by Editorial Team

The ProProfs editorial team is comprised of experienced subject matter experts. They've collectively created over 10,000 quizzes and lessons, serving over 100 million users. Our team includes in-house content moderators and subject matter experts, as well as a global network of rigorously trained contributors. All adhere to our comprehensive editorial guidelines, ensuring the delivery of high-quality content.

Learn about Our Editorial Process

| By Tinarusnak42

Tinarusnak42

Community Contributor

Quizzes Created: 1 | Total Attempts: 269

| Attempts: 269

Quiz Flashcard

Questions

Feedback

During the Quiz End of Quiz

Difficulty

Sequential Easy First Hard First

Share on Facebook Share on Twitter Share on Whatsapp Share on Pinterest Share on Email Copy to Clipboard Embed on your website

1/10 Questions

Today's progressive managers:
- Usually prefer to use the autocratic style of leadership
- Tend to emphasize teamwork and cooperation rather than discipline and order-giving
- Face fewer challenges and problems than managers in the past
- Can rely on much higher level of worker loyalty to the organization than in the past

About This Quiz

Enhance your business acumen with the 'Understanding of Business and Management Quiz.' This comprehensive quiz delves into key concepts in business and management, testing your knowledge on leadership, organizational structures, and strategic decision-making. Whether you're a budding entrepreneur or a seasoned professional, this quiz offers a dynamic assessment of your understanding of business principles. Explore a range of topics and See morechallenge yourself to excel in the ever-evolving landscape of business and management. Sharpen your skills, broaden your knowledge, and take the first step toward mastering the intricacies of the business world.

Understanding Of Business And Management Quiz - Quiz

2.

Which of the following activities is part of the organizing function of a manager?
- Going over a spreadsheet to analyze some financial data
- Teaching a new employee how to use a piece of office equipment
- Giving front-line workers additional resources needed to provide faster and better service to customers
- Developing a broad general strategy to help the organization meet its long-term growth objectives
Correct Answer

A. Giving front-line workers additional resources needed to provide faster and better service to customers

Explanation

The organizing function of a manager involves coordinating and allocating resources to achieve organizational goals. Giving front-line workers additional resources to provide faster and better service to customers is an example of organizing as it involves allocating resources to improve service delivery.

Rate this question:
3.

When managers identify a market trend that suggests a new opportunity and then devise a strategy to go after this new opportunity, they are involved in the function of:
- Controlling
- Planning
- Leading
- Organizing
Correct Answer

A. Planning

Explanation

When managers identify a market trend that suggests a new opportunity and then devise a strategy to go after this new opportunity, they are involved in the function of planning. Planning involves setting goals, determining the best course of action to achieve those goals, and developing strategies and tactics to implement the chosen course of action. In this scenario, the managers are identifying a market trend and using that information to plan and develop a strategy to pursue the new opportunity presented by the trend.

Rate this question:
4.

_________ analysis is used to help companies eevaluate their economic environments, assess their strengths and weaknesses, and identify competitive threats and market opportunities.
- WISH
- SWAMP
- ASSET
- SWOT
Correct Answer

A. SWOT

Explanation

SWOT analysis is a strategic planning tool used by companies to evaluate their economic environments, assess their strengths and weaknesses, and identify competitive threats and market opportunities. It involves analyzing the company's internal strengths and weaknesses (such as resources, capabilities, and performance) as well as external opportunities and threats (such as market trends, competition, and regulatory factors). This analysis helps companies develop strategies to leverage their strengths, overcome weaknesses, capitalize on opportunities, and mitigate threats, ultimately leading to improved decision-making and business performance.

Rate this question:
5.

Which of the following techniques would a team of workers be most likely to use if they wanted to evaluate several possible solutions to a specific problem their company needs to solve?
- PERT
- Regression analysis
- PMI
- SWOT
Correct Answer

A. SWOT

Explanation

A team of workers would most likely use the SWOT (Strengths, Weaknesses, Opportunities, Threats) technique to evaluate several possible solutions to a specific problem their company needs to solve. SWOT analysis helps identify the internal strengths and weaknesses of the company, as well as external opportunities and threats in the market. By analyzing these factors, the team can assess the potential of each solution and make an informed decision on the best course of action. PERT (Program Evaluation and Review Technique) is used for project scheduling, while regression analysis is a statistical method used to examine relationships between variables. PMI (Plus-Minus-Interesting) is a brainstorming technique, but SWOT is more suitable for evaluating solutions.

Rate this question:
6.

Ed Flavorman, the chief executive of Flavor Best Ice Cream, believes that alternative plans are almost as important as the primary operational plans because the market is so competitive and unpredictable. Ed endorses:
- Tactical planning
- Retroactive planning
- Concurrent planning
- Contingency planning
Correct Answer

A. Contingency planning

Explanation

Ed Flavorman believes that alternative plans are crucial in a competitive and unpredictable market. This implies that he endorses contingency planning, which involves developing backup plans to address unexpected events or changes in the market. Contingency planning allows for flexibility and adaptability, ensuring that the company can respond effectively to unforeseen circumstances and maintain its competitive edge.

Rate this question:
7.

General and divisional managers, plan managers, and deans and department heads at colleges all are positions that usually are classified as:
- Middle management
- Supervisory management
- Top management
- Nominal management
Correct Answer

A. Middle management

Explanation

General and divisional managers, plan managers, and deans and department heads at colleges are all positions that typically fall under the category of middle management. Middle management is responsible for overseeing the day-to-day operations of a department or division within an organization. They are responsible for implementing the strategies and plans set by top management, and they supervise and coordinate the work of lower-level employees. Middle managers play a crucial role in bridging the gap between top management and frontline employees, ensuring that organizational goals are achieved efficiently and effectively.

Rate this question:
8.

Which of the following statements about effective leadership is the most accurate?
- Most effective leaders share certain specific traits
- The most effective leadership style depends on who is being led and in what situation
- The democratic style of leadership will almost always improve the effectiveness of the organization
- One trait of effective managers is that they consistently maintain the same style of leadership
Correct Answer

A. The most effective leadership style depends on who is being led and in what situation

Explanation

The most effective leadership style depends on who is being led and in what situation. This statement acknowledges that there is no one-size-fits-all approach to leadership. Different individuals and situations require different leadership styles in order to maximize effectiveness. A leader must be adaptable and able to tailor their approach to meet the specific needs and goals of their team and organization. This understanding allows for flexibility and the ability to make informed decisions about the most appropriate leadership style to achieve the desired outcomes.

Rate this question:
9.

At Livwell Pharmaceuticals, research personnel are told that the company would like to develop at least three new products each year and are given some general information about which types of drugs seem to have the most potential. After that, scientists and other research personnel work essentially on their own to develop the new drugs. Managers at Livwell seem to prefer:
- Free-rein leadership
- Consultative leadership
- Projectory leadership
- Autocratic leadership
Correct Answer

A. Free-rein leadership

Explanation

Free-rein leadership is the preferred leadership style at Livwell Pharmaceuticals because research personnel are given the freedom and autonomy to work on their own to develop new drugs. They are only given general information about potential drug types, but are not micromanaged or closely supervised by managers. This style allows the scientists and research personnel to use their expertise and creativity to develop new products, fostering innovation and individual initiative within the company.

Rate this question:
10.

Ho Han has just spent two hours going over quality reports to determine whether his department is meeting quality standards he set for the current month. Ho's efforts are part of the ________ function of management.
- Planning
- Organizing
- Directing
- Controlling
Correct Answer

A. Controlling

Explanation

Ho Han's efforts of going over quality reports to determine whether his department is meeting quality standards align with the controlling function of management. Controlling involves monitoring and evaluating performance against set standards and taking corrective actions if necessary. In this case, Ho is assessing the quality of his department's work and ensuring that it meets the standards he set for the current month.

Rate this question:

Quiz Review Timeline (Updated): Nov 20, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

Current Version
Nov 20, 2023

Quiz Edited by
ProProfs Editorial Team
Jul 24, 2012

Quiz Created by
Tinarusnak42

Understanding Of Business And Management Quiz

Today's progressive managers:

Quiz Preview

Which of the following activities is part of the organizing function of a manager?

When managers identify a market trend that suggests a new opportunity and then devise a strategy to go after this new opportunity, they are involved in the function of:

_________ analysis is used to help companies eevaluate their economic environments, assess their strengths and weaknesses, and identify competitive threats and market opportunities.

Which of the following techniques would a team of workers be most likely to use if they wanted to evaluate several possible solutions to a specific problem their company needs to solve?

Ed Flavorman, the chief executive of Flavor Best Ice Cream, believes that alternative plans are almost as important as the primary operational plans because the market is so competitive and unpredictable. Ed endorses:

General and divisional managers, plan managers, and deans and department heads at colleges all are positions that usually are classified as:

Which of the following statements about effective leadership is the most accurate?

Ho Han has just spent two hours going over quality reports to determine whether his department is meeting quality standards he set for the current month. Ho's efforts are part of the ________ function of management.