Q. In marketing, what does the term '4 Ps' refer to?
A.
Product, Price, Place, Promotion
B.
People, Process, Product, Profit
C.
Planning, Performance, Positioning, Pricing
D.
Product, People, Process, Promotion
Show solution
Solution
The '4 Ps' of marketing are Product, Price, Place, and Promotion, which are essential elements for marketing strategy.
Correct Answer:
A
— Product, Price, Place, Promotion
Learn More →
Q. In the context of management, what does 'delegation' refer to?
A.
Assigning tasks to subordinates
B.
Setting organizational goals
C.
Evaluating employee performance
D.
Creating a company budget
Show solution
Solution
Delegation is the process of assigning tasks and responsibilities to subordinates to enhance efficiency and empower employees.
Correct Answer:
A
— Assigning tasks to subordinates
Learn More →
Q. What does PESTLE analysis stand for?
A.
Political, Economic, Social, Technological, Legal, Environmental
B.
Planning, Evaluation, Strategy, Technology, Leadership, Economics
C.
Product, Environment, Sales, Technology, Logistics, Economics
D.
People, Efficiency, Strategy, Technology, Leadership, Economics
Show solution
Solution
PESTLE analysis is a framework used to analyze the external environment by examining Political, Economic, Social, Technological, Legal, and Environmental factors.
Correct Answer:
A
— Political, Economic, Social, Technological, Legal, Environmental
Learn More →
Q. What does the term 'competitive advantage' refer to?
A.
A company's ability to outperform its competitors
B.
The cost of production compared to competitors
C.
The number of products offered in the market
D.
The market share held by a company
Show solution
Solution
Competitive advantage refers to a company's ability to outperform its competitors, often through unique resources or capabilities.
Correct Answer:
A
— A company's ability to outperform its competitors
Learn More →
Q. What is the main focus of strategic management?
A.
Day-to-day operations
B.
Long-term goals and direction
C.
Employee performance evaluation
D.
Financial accounting
Show solution
Solution
Strategic management focuses on long-term goals and the overall direction of the organization.
Correct Answer:
B
— Long-term goals and direction
Learn More →
Q. What is the main goal of marketing?
A.
To increase production efficiency
B.
To maximize customer satisfaction
C.
To enhance employee performance
D.
To reduce operational costs
Show solution
Solution
The main goal of marketing is to maximize customer satisfaction by understanding and meeting their needs.
Correct Answer:
B
— To maximize customer satisfaction
Learn More →
Q. What is the primary focus of strategic management?
A.
Day-to-day operations
B.
Long-term organizational goals
C.
Employee training programs
D.
Financial reporting
Show solution
Solution
Strategic management focuses on long-term organizational goals and the overall direction of the company.
Correct Answer:
B
— Long-term organizational goals
Learn More →
Q. What is the primary purpose of a SWOT analysis?
A.
To evaluate financial performance
B.
To assess market trends
C.
To identify strengths, weaknesses, opportunities, and threats
D.
To analyze customer behavior
Show solution
Solution
A SWOT analysis helps organizations identify their internal strengths and weaknesses, as well as external opportunities and threats.
Correct Answer:
C
— To identify strengths, weaknesses, opportunities, and threats
Learn More →
Q. What is the purpose of a business plan?
A.
To outline the company's financial statements
B.
To provide a roadmap for business growth and development
C.
To analyze competitors
D.
To manage employee performance
Show solution
Solution
A business plan serves as a roadmap for the business, detailing goals, strategies, and the means to achieve them.
Correct Answer:
B
— To provide a roadmap for business growth and development
Learn More →
Q. Which leadership style is characterized by a hands-off approach?
A.
Autocratic
B.
Democratic
C.
Laissez-faire
D.
Transactional
Show solution
Solution
Laissez-faire leadership is characterized by a hands-off approach, allowing employees to make decisions with minimal interference.
Correct Answer:
C
— Laissez-faire
Learn More →
Q. Which of the following best describes 'corporate social responsibility' (CSR)?
A.
Maximizing shareholder profits
B.
Minimizing operational costs
C.
Balancing profit-making with social and environmental concerns
D.
Focusing solely on customer satisfaction
Show solution
Solution
Corporate social responsibility (CSR) involves businesses taking responsibility for their impact on society and the environment while pursuing profit.
Correct Answer:
C
— Balancing profit-making with social and environmental concerns
Learn More →
Q. Which of the following best describes 'market segmentation'?
A.
Dividing a market into distinct groups of buyers
B.
Creating a single marketing strategy for all customers
C.
Analyzing competitors' market share
D.
Identifying the target market for a new product
Show solution
Solution
Market segmentation involves dividing a market into distinct groups of buyers with different needs or characteristics.
Correct Answer:
A
— Dividing a market into distinct groups of buyers
Learn More →
Q. Which of the following is a key characteristic of entrepreneurship?
A.
Risk aversion
B.
Innovation
C.
Stability
D.
Conformity
Show solution
Solution
Innovation is a key characteristic of entrepreneurship, as entrepreneurs often seek to create new products or services.
Correct Answer:
B
— Innovation
Learn More →
Showing 1 to 13 of 13 (1 Pages)
