Business Organization And Management Knowledge Test

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Quizzes Created: 35 | Total Attempts: 41,700

Questions: 55 | Attempts: 669 | Updated: Feb 14, 2023

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Business Organization And Management Knowledge Test - Quiz

This is the prelim exam of Management 1 - Business Organization and Management

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Current Version
Feb 14, 2023

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Jul 19, 2011

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Business Organization And Management Knowledge Test

_____ is a general term, which includes all profit seeking activities of enterprises that provide goods and services necessary to an economic system.

_____ is the money that remains after a firm deducts its expenses related to producing and marketing goods and services

What system that individuals are vested with the right to operate enterprise for private gain?

_____ refers to that economic system in which the means of production, consisting of land and tangible goods are owned privately.

Under ______, all economic resources are owned by the state.

_____ is a type of system that the state only owns essential industries, but all other businesses are open for private persons.

______ is a systematic process of planning, organizing, staffing and controlling of activities in an organization

This means that breaking the job down into specialized tasks to increase productivity.

The right given to a person in position to give orders plus the power to exact obedience is refereed to as __________.

This provides uniform application of behavior to certain activities the outcome of which is readily predicted.

This means that each employee must have only one supervisor.

This means that the efforts of everyone in the organization must be coordinated and focused in the same direction

Employees should be paid fairly in accordance with their contribution to the organizational effort

Power and authority must come from top to bottom.

This means that subordinates should observe chain of command unless authorized by their respective superiors to communicate with each other.

This means that human and non-human resources should be in their proper places.

This is the result of kindliness and justice and is a principle to guide management-employee relations.

Companies should have effective manpower planning and implementation to prevent high employee turnover.

Management should encourage employees to act on their own wish when confronted with an opportunity to solve a problem.

This means that managers should emphasize teamwork by building harmony and a sense of unity among employees.

An entity comprising of group of people, established to accomplish certain goals is known as ______.

When properly directed, persons working in coordination with others will produce better outputs than when they work independently.

In order for the employees work with proper direction, they must be provided with a common vision and mission.

A total job is divided into manageable parts, this characteristics is referred to as _________.

When individuals work collectively, someone must be provided with authority to make sure that assigned goals are achieved in the desired manner.

The study of morals and moral choices of human beings is known as _______.

The moral principles defined right and wrong behavior of business persons and their agents are called ______.

A person who is knowledgeable about ethics, emnployed by the company and acts as the company’s conscience is called ______.

Documents that specify practices that are unethical and which the company expressly forbids is known as ____.

Jun Lozada is helpless that he cannot anymore hold on to his conscience about the ZTE scandals the government is into. He divulges all of these through the media. This principle of ethics is referred to as ________.

The company allows a condition or potential problems to go unresolved until the public finds out about it.

This strategy is used by company to try to minimize or avoid additional obligations.

This is done when special interest groups are taking the side of the opposition, or when the business perceives that if it does not react, a law will be passed to ensure compliance.

Companies sponsor cultural shows free to the public, scholarship to financially handicapped but deserving students and providing support for the environment. This strategy is known as _____.

____ refers to the systematic examination of all the activities achieving social goals such as employment of the handicapped, adoption of the anti-pollution campaign and other issues.

_____ is a type of business entity that is owned and operated by a single person.

Which of the following advantages are common in Sole Proprietorship and Partnership?

_____ is an organization composed of individuals of businesses that have banded together to reap the benefits of belonging to a large organization.

It is defined as the process of defining the problem and identifying and choosing alternative courses of action in a manner appropriate to the demands of the situation.

If the manager wants to make an intelligent decision, this first move must be to identify the problem. This process is known as _______.

Understanding the environment where the organization situated plays a very significant role in the success or failure of such an organization.

A problem is an opportunity to improve one’s standing. If one wants to benefit from solving a problem or exploiting an opportunity, a solution that will effectively address the situation is required. This decision making process is known as

Oftentimes, a problem may be solved by any of the solutions offered, by creating alternative solutions that may be considered by the management. This decision making process is known as ______.

After determining the viability of the alternatives and a revised list is made, an evaluation of the remaining alternatives is necessary. This decision making process is referred to as _______.

After the alternatives have been evaluated, the decision-maker must now be ready to make a choice. What decision making process is this?

The carrying out of the decision so that the objectives sought will be achieved is known as ___________.

In implementing the decision, the results expected may or may not happen. It is, therefore, important for the manager to use control and feedback mechanisms to ensure results and to provide information for future decisions. This decision making process is known as _______.

Which of the following is the best reason why sole proprietorship has the advantages of keeping his business intentions secret from competitors?

Which of the following is the best reason why sole proprietorships have limited life?

______ is a legal association of two or more persons as co-owners of an unincorporated business.