Quiz Over Classification Of Business Organization

The correct answer includes three types of business organizations: public sector limited company, partnership, and sole trader. A public sector limited company is a business owned and operated by the government. Partnership refers to a business owned and operated by two or more individuals who share the profits and liabilities. Sole trader refers to a business owned and operated by a single individual. These three types represent different structures and ownership models for businesses.

A goal in an organization refers to a future plan that outlines the desired outcome or objective that the organization aims to achieve. It serves as a roadmap for the organization, providing direction and focus for its activities and initiatives. Goals are typically specific, measurable, achievable, relevant, and time-bound, helping to guide the organization's decision-making and resource allocation. By setting clear goals, organizations can align their efforts, motivate employees, and track progress towards their desired outcomes.

The four P's in marketing are promotion, price, place, and product. These elements are essential in developing a successful marketing strategy. Promotion refers to the activities that communicate and promote the product or service to the target audience. Price is the amount customers are willing to pay for the product or service. Place refers to the distribution channels and locations where the product or service is made available to customers. Lastly, product refers to the actual goods or services being offered to customers.

The correct answer is advertising and personal selling. Advertising involves using various media platforms to promote a product or service to a wide audience. This can include television, radio, print, and online advertisements. On the other hand, personal selling involves direct interaction between a salesperson and potential customers, where the salesperson can provide personalized information and persuade them to make a purchase. Both advertising and personal selling are effective promotional strategies that can help increase brand awareness and drive sales.

Maslow's hierarchy of needs is a theory that categorizes human needs into five stages. The highest stage in this hierarchy is self-actualization. This stage represents the fulfillment of an individual's potential and the desire to become the best version of themselves. It involves personal growth, self-discovery, and the pursuit of meaningful goals. Esteem needs and safety and security needs are lower stages in the hierarchy, which are necessary but not as important as self-actualization.