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Own Business Management.d(1)

Own Business Management.d(1)

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80 вопросов Вариант 1 Доступ 7 дней
Содержание теста

Вопросы и варианты

Без отметок и подсказок к правильным ответам

Вопрос 1

Which type of business ownership provides limited liability for the owner(s)?

  1. General partnership
  2. Corporation
  3. Sole proprietorship
  4. Partnership
Вопрос 2

One advantage of a general partnership over a sole proprietorship is a general partnership

  1. Provides limited liability
  2. is a corporation
  3. Provides unlimited liability
  4. can rely on more than one person for financial backing
Вопрос 3

A business owner with unlimited liability

  1. Could have to sacrifice all his money and possessions to payoff business debts
  2. is not personally responsible to pay business debt
  3. is a shareholder of a corporation
  4. would not have to sacrifice all his money and possessions to payoff business debts
Вопрос 4

A country’s rules of business etiquette reflect

  1. the country’s overall social customs and attitudes
  2. the country’s level of economic development
  3. Equal the country’s openness to outside entrepreneurs
  4. The country’s level of infrastructure
Вопрос 5

Entrepreneurs who learn the social etiquette of a different culture

  1. cannot negotiate in good faith
  2. miss business opportunities in their own country
  3. can participate more effectively in an international negotiation
  4. can participate less effectively in an international negotiation
Вопрос 6

In a negotiation, it is important to focus on

  1. what you need
  2. what you want
  3. Winning
  4. Making sure the other party concedes more than you do
Вопрос 7

Failing to manage your time can lead to some consequences, like

  1. Above Less Stress
  2. Below Greater Productivity
  3. Missed Deadlines
  4. A better professional development
Вопрос 8

Which of the following is a true statement?

  1. Time management means always doing more than one task at the same time
  2. Time management is about planning to get tasks done and doing them
  3. Good time management means never taking breaks
  4. One way to manage your time well is to ignore deadlines and focus on doing the most fun activities
Вопрос 9

Which word means determine the order for dealing with (a series of items or tasks) according to their relative importance?

  1. Planner
  2. Prioritize
  3. Schedule
  4. Task
Вопрос 10

What does the R in S.M.A.R.T goals stands for?

  1. Resting
  2. Realistic
  3. Really
  4. Routine
Вопрос 11

What is the definition of an entrepreneur?

  1. An entrepreneur is someone who manages a business
  2. An entrepreneur is someone who creates a business and potentially makes money and runs the business
  3. An entrepreneur is someone who owns a business and makes profit from that business
  4. An entrepreneur is someone who runs a business
Вопрос 12

Which of the following is NOT true about an entrepreneur?

  1. An entrepreneur gets to act as his own boss
  2. An entrepreneur's salary is evaluated based on his ability to complete the tasks assigned to him
  3. An entrepreneur is responsible for the success of their business
  4. An entrepreneur has ownership in the business
Вопрос 13

What role do entrepreneurs play in economics?

  1. Entrepreneurs tell consumers what they should want or need
  2. Entrepreneurs create the businesses that produce products that meet the wants and needs of consumers
  3. Entrepreneurs borrow money from the economy to start their businesses
  4. Entrepreneurs tell investors what they should want or need
Вопрос 14

Which of the following is not a risk for an entrepreneur?

  1. Potential Business Failure
  2. Financial Stability
  3. Financial Insecurity
  4. Long hours and hard work
Вопрос 15

Being an entrepreneur involves risks as well as rewards. Which of the following is a risk of being an entrepreneur?

  1. decision-making
  2. flexibility
  3. Equal creativity
  4. Uncertain Income
Вопрос 16

What is possibly the biggest reward of becoming an entrepreneur?

  1. Empowerment
  2. Fame
  3. Money
  4. Reputation
Вопрос 17

As an entrepreneur, the amount of time you spend working is typically

  1. a little less than for an employee
  2. More than for an employee, particularly during initial startup
  3. Constant—35 to 40 hours a week, just like an employee
  4. Significantly less than for an employee — around 20 hours a week
Вопрос 18

What percentage of business owners use their own money to start the business?

  1. More than 75%
  2. More than 60% but less than 75%
  3. More than 40% but less than 60%
  4. Less than 40%
Вопрос 19

An experiences person who volunteers to provide free guidance, tutoring, and suggestions to younger individuals is called a(n)

  1. Intrapreneur
  2. Mentor
  3. Entrepreneur
  4. Employee
Вопрос 20

A natural ability to do a particular type of work or activity well is called

  1. A Skill
  2. An Aptitude
  3. An Attitude
  4. Self-Esteem
Вопрос 21

Being opportunity focused means you never lose sight of:

  1. The economic and funding Metrics of the Venture
  2. The Customer and the Marketplace
  3. Competitive Advantages
  4. Equal
Вопрос 22

When considering a new opportunity, what should be the first consideration?

  1. The Financial
  2. The Market
  3. The Product
  4. The Service
Вопрос 23

What is a Patent?

  1. Legal protection of written works, musical works, choreographed works
  2. Legal protection of inventions, processes, machines
  3. Legal protection of words, symbols, or combinations of these that represent a company
  4. Legal Rights
Вопрос 24

Which of these options best describes opportunity cost?

  1. The price of taking a chance
  2. The price you pay when you make a choice
  3. The alternative you must go without in a choice of two things
  4. The cost of opportunity
Вопрос 25

What is a cost-benefit analysis?

  1. The taxes that people pay when they buy something
  2. A process that allows businesses and individuals to analyze where to spend money
  3. The amount of money required to have or do something
  4. Business opportunity and vision
Вопрос 26

What is a trade-off?

  1. the item you receive after you pay
  2. giving up one thing for another
  3. the amount of money paid for something
  4. Supply & Demand
Вопрос 27

The period you must act on a business opportunity before it disappears is called the

  1. Opportunity time limit
  2. Window of opportunity
  3. Reasonable time frame
  4. Non reasonable time frame
Вопрос 28

What is a vision statement?

  1. expresses what the organization should become
  2. a short, specific written statement of the reason a business exists and what it wants to achieve
  3. to provide a rigorous academic program which meets the needs of our diverse population
  4. valuing the dignity and work of all individuals
Вопрос 29

Which of the following is true about a business plan?

  1. developing it is simple and straight forward
  2. once developed, it does not change
  3. it has a set format
  4. it will need to be changed from time to time
Вопрос 30

The Business Plan of a for-profit company typically focuses on?

  1. the business missions
  2. the products or services that support the mission
  3. financial goals
  4. the products that support the mission
Вопрос 31

What is Inclusion?

  1. Where people come together to work towards the same goal
  2. Everyone in the community should feel they play a part
  3. To rely on someone
  4. People from same background
Вопрос 32

What does the concept of diversity in the workplace refer to?

  1. Physical differences among employees
  2. Social differences among employees
  3. Historical differences among groups
  4. Managerial difference among employees
Вопрос 33

Organizational Diversity Initiatives should fit in with the:

  1. Organizational brand
  2. CSR strategy
  3. Corporate structure
  4. Organizational culture
Вопрос 34

Which of the following terms describes the natural abilities individuals are born with?

  1. Skills
  2. Talents
  3. Roles
  4. Emotions
Вопрос 35

Which of the following is NOT a quality of collaboration?

  1. Honesty
  2. Inconsistency
  3. Respect
  4. Openness
Вопрос 36

Which is NOT true of great leaders?

  1. Are willing to own up to their own mistakes
  2. Creating and expanding goals
  3. Focusing on people
  4. Exhibiting one leadership style
Вопрос 37

Which of the following is NOT true of teamwork in the workplace?

  1. Encourages support and recognition in team members
  2. Requires team roles to be clearly recognized
  3. Creates an inefficient environment
  4. Gives leaders a collaborative insight to new opportunities
Вопрос 38

Which of the following terms allows individuals to use their understanding of others to choose how they think and act?

  1. Personality types
  2. Emotional intelligence
  3. Team roles
  4. Learning styles
Вопрос 39

A good decision is...

  1. Well thought out
  2. Made quickly
  3. One that makes everyone happy
  4. Always the easiest to make
Вопрос 40

The decision-making model will help you to:

  1. Make perfect decisions
  2. Make more responsible decisions
  3. Help you to make impulsive decisions
  4. Avoid responsible decisions
Вопрос 41

As an entrepreneur, you may find that indirect competitors

  1. Are usually located in malls or shopping centers
  2. Are more difficult to locate than direct competitors
  3. Make most of their money selling the same product or service than you sell
  4. Are easy to locate than direct competitors
Вопрос 42

Competitors should be analyzed concerning their:

  1. Prices
  2. Locations
  3. Strengths and Weaknesses
  4. Prices, Locations, Strengths and Weaknesses
Вопрос 43

The most important way to maintain customer loyalty is

  1. Disregard customers choices
  2. Listen to customers' concerns
  3. Get as many customers as possible
  4. Not care about customers
Вопрос 44

What is a good way to attract customers from competitors?

  1. Advertise outside their stores
  2. Advertise on social media
  3. Online customer surveys
  4. Accept competitor coupons
Вопрос 45

A leadership plan that achieves a specific set of goals or objectives is called … …

  1. Business plan
  2. Business strategy
  3. Business goals
  4. Business challenge
Вопрос 46

Coca-Cola decided to sell their brand of mineral water called Dasani in the Malaysian market. This is an example of what type of business strategy

  1. Developing new product or services
  2. Entering new markets
  3. Increasing customer loyalty
  4. Attracting new customers
Вопрос 47

A product or service that an organization’s customers place a greater value on than similar offering from a competitor is the definition of:

  1. Competitive advantage
  2. Competitive disadvantage
  3. Competitive strategy
  4. First mover advantage
Вопрос 48

… costs mean manipulating costs to make customers reluctant to switch to another product

  1. Loyalty
  2. Switching
  3. Buyer
  4. Seller
Вопрос 49

When a company develops unique differences in its products or services with the intent to influence demand it is called … …

  1. Product enhancement
  2. Service upgrading
  3. Service alternatives
  4. Product differentiation
Вопрос 50

Which of the following is not an example of data that would be included in a B2C customer profile?

  1. Geographic location of customer
  2. Number of employees
  3. Age of customer
  4. Education level of customer
Вопрос 51

This is needed when business processes include some form of automation and information technology

  1. Knowledge Process Outsourcing (KPO)
  2. Information Technology-Enabled Services (ITES)
  3. Back Office Outsourcing
  4. Offshore Outsourcing
Вопрос 52

What does ERP stand for?

  1. Enterprise Resource Planning
  2. Enterprise Resource Program
  3. Environmental Resource Planning
  4. Enterprise Recycling Program
Вопрос 53

What is at the heart of any ERP system?

  1. Information
  2. Database
  3. Customers
  4. Employees
Вопрос 54

In a process-oriented organization, who is directly accountable for poor performance of a process?

  1. The Executive Management Team
  2. The Process Participants
  3. The process owner
  4. The Process Analyst
Вопрос 55

What is the primary difference in an organization before and after an ERP installation?

  1. Employees work across different departments
  2. Central database for all departments
  3. Databases across departments are separate
  4. Central database
Вопрос 56

Complete the sentence: A business plan...

  1. is useful once your business is operational but not much help during the startup phase
  2. is not usually needed once the business is up and running
  3. can serve as a tool for helping a business during the startup phase and for managing your business once it is up and running
  4. A prototype of business infrastructure
Вопрос 57

Which part of the business plan explains the process of attraction of customers to your business and how you determined the appropriate customers?

  1. Financial Plan
  2. Market Research/analysis
  3. Background
  4. History
Вопрос 58

What are the disadvantages of creating a business plan?

  1. It will be more complicated to identity the company’s competition
  2. Distracts entrepreneur from allowing their business to grow
  3. Leads away from the desired task that was the goal to be accomplished
  4. Not involving the right people and spending too much time on unnecessary issues
Вопрос 59

What part of the plan focuses on what you are selling and the benefits that the customers will receive (the cost of the marketed items/acts)?

  1. Company Description
  2. Product/Services
  3. Strategy
  4. Market Analysis
Вопрос 60

Common features of e-commerce include:

  1. Product development
  2. 24/7 accessibility
  3. Economies of scale
  4. Uniqueness
Вопрос 61

The core values, beliefs, and assumptions that are widely shared by members of an organization are termed:

  1. Organizational climate
  2. Organizational Culture
  3. Mission Statement
  4. Strategic Plan
Вопрос 62

Organization culture consists of the core values, beliefs, and assumptions that are widely shared by members of an organization. What purpose does it serve?

  1. Communicating what behaviors, the organization values
  2. Providing employees with a sense of direction
  3. Fostering employee loyalty
  4. Communicating what behaviors, the organization values, providing employees with a sense of direction, Fostering employee loyalty
Вопрос 63

Which of the following is not the objectives of giving an effective evaluation?

  1. To teach the evaluator to listen clearly, precisely, and attentively
  2. To make the listener listens to your feedback
  3. To give the speaker your honest reaction in a constructive manner
  4. To give the evaluator an opportunity to practice delivering an oral evaluation
Вопрос 64

Nonverbal communication when people look a each other in the eyes

  1. Physical Touch
  2. Eye Contact
  3. Eye Rolling
  4. Making Crossed Eyes
Вопрос 65

Type of speech where the speaking is showing the audience how to make or do something

  1. Motivational
  2. Demonstration
  3. Inspirational
  4. Impromptu
Вопрос 66

Information about the outcomes of past or present activities or a system's operations results is best described as …

  1. Feedback
  2. Knowledge
  3. Progress
  4. Data Logging
Вопрос 67

What is creativity?

  1. Focusing on your personal development instead of helping others improve their personal abilities
  2. The act of turning new and imaginative ideas into reality
  3. Being skilled at doing the same thing repeatedly (repetitive tasks)
  4. Allowing others on your team to complete projects but getting the praise for being part of a team
Вопрос 68

… is a payment system that rewards people for who meet set targets over a period

  1. Fringe benefits
  2. Performance-related pay
  3. Time rate
  4. Profit-rated pay
Вопрос 69

Isaac feels like his hard work is never recognized. Which level of needs (Maslow) is not being satisfied?

  1. Social
  2. Self-Esteem
  3. Self-Actualization
  4. Physiological
Вопрос 70

Which of the following does NOT demonstrate creativity and resourcefulness?

  1. Contributing new ideas from improving products and procedures
  2. Quick Effective Decision
  3. Developing operational policies and procedures that use resources in a sustainable manner
  4. Displaying initiative readily, independently and responsibly
Вопрос 71

A program of one-to-one collaboration between a certified external expert and a manager for developing the leadership skills of the latter is called

  1. Executive Coaching
  2. Executive Orientation
  3. Mentoring
  4. Executive Manager
Вопрос 72

The initial training effort to inform the new managers about the company, the job, and the work group is known as

  1. Executive orientation
  2. Action learning
  3. Executive Coaches
  4. Behavioral Modeling
Вопрос 73

The development technique which educates the trainees about the need for and the techniques of prioritizing the situations for decision-making is called

  1. In-basket training
  2. Action learning
  3. Mentoring
  4. Executive Coaching
Вопрос 74

How can you describe the thinking and outlook of transformational leaders?

  1. Strategic
  2. Operational
  3. Functional
  4. Development
Вопрос 75

What are the key characteristics of transactional leaders?

  1. Expert
  2. Referent
  3. Legitimate
  4. Reward
Вопрос 76

Strategic planning for change is ...

  1. Focused on short term strategies and results
  2. About defining the overall purpose and goal of a business and determining how results will be achieved
  3. not always necessary to achieve effective results
  4. Conducted by all management and employees
Вопрос 77

Change process that involves Design, Develop and Deliver is … side of change

  1. Future
  2. Technical
  3. Awareness
  4. People
Вопрос 78

The three stages of the Organizational change process are

  1. Preparing – Reinforcing – Managing
  2. Preparing – Managing – Reinforcing
  3. Reinforcing – Managing – Preparing
Вопрос 79

Successful businesses are those that can:

  1. Respond to change
  2. Adapt to change
  3. Manage change
  4. Respond, Adapt and Manage change
Вопрос 80

Which of the following is the best explanation of business process reengineering?

  1. Redesigning the organizational structure of a business
  2. Redesigning workflow
  3. Redesigning products
  4. Transformation of business processes for more effective achievement of business
  5. goals