- 1. Business administration involves the administration of a business or organization in order to achieve the goals and objectives set by its owners or stakeholders. This field encompasses a wide range of activities, including planning, organizing, staffing, directing, and controlling. Business administrators are responsible for managing resources, implementing strategies, making decisions, and ensuring the overall success and sustainability of the business. They need to have strong analytical, problem-solving, communication, and leadership skills in order to effectively navigate the complex and dynamic business environment.
SWOT analysis in business stands for:
A) Strategy, Workflow, Objectives, Timeline
B) Strengths, Weaknesses, Opportunities, Threats
C) Service, Work, Optimization, Trends
D) Sales, Wins, Operations, Tasks
- 2. What does ROI stand for in business?
A) Risks of Investment
B) Return on Investment
C) Revenue on Income
D) Returns over Initiatives
- 3. What is the purpose of strategic planning in business administration?
A) Day-to-day operations management
B) Short-term financial analysis
C) Employee recruitment
D) Setting long-term goals and determining strategies to achieve them
- 4. Which management function involves setting specific objectives and developing a plan to achieve them?
A) Organizing
B) Controlling
C) Leading
D) Planning
- 5. What is the term for the process of evaluating employees’ performance and providing feedback?
A) Team building
B) Employee orientation
C) Performance appraisal
D) Salary negotiation
- 6. In business, the acronym KPI stands for:
A) Keeping Profits Increasingly
B) Key Partnership Implementation
C) Key Performance Indicator
D) Knowledgeable Personnel Initiative
- 7. What does the term 'break-even point' represent in business?
A) The point at which total revenue equals total costs
B) The minimum sales target
C) The peak of profitability
D) The point of product launch
- 8. Which area of business administration focuses on predicting consumer behavior and market trends?
A) Finance
B) Operations
C) Marketing
D) Human resources
- 9. What does CRM stand for in business management?
A) Customer Retention Model
B) Customer Relationship Management
C) Cost Reduction Measure
D) Competitor Relationship Matrix
- 10. Which type of leadership style involves making decisions independently without consulting others?
A) Transformational
B) Laissez-faire
C) Autocratic
D) Democratic
- 11. What is the purpose of a SWOT analysis in business?
A) To calculate revenue projections
B) To assess competitor strategies
C) To analyze employee performance
D) To identify internal strengths and weaknesses, as well as external opportunities and threats
- 12. What is the term for a business entity that operates independently and is separate from its owners?
A) Sole proprietorship
B) Corporation
C) Partnership
D) Limited liability company
- 13. What is the term for the process of recruiting, selecting, and training employees?
A) Inventory control
B) Sales forecasting
C) Quality assurance
D) Human resource management
- 14. What is the term for a visual representation of the structure and relationships within an organization?
A) Organizational chart
B) SWOT analysis
C) Marketing strategy
D) Financial statement
- 15. The process of setting specific performance standards and evaluating progress towards those standards is known as:
A) Time management
B) Performance management
C) Project management
D) Inventory management
- 16. What type of motivation refers to internal drives that propel individuals to action?
A) Intrinsic motivation
B) Reward motivation
C) Extrinsic motivation
D) Performance-based motivation
- 17. Which financial metric indicates a company's ability to cover short-term liabilities with its short-term assets?
A) Debt-to-Equity Ratio
B) Profit Margin
C) Return on Investment (ROI)
D) Current Ratio
- 18. What is the process of gathering, analyzing, and interpreting information about a market, competition, and consumers called?
A) Market Research
B) Sales Forecasting
C) Product Development
D) Strategic Planning
- 19. What is the economic theory that suggests individuals act in their own self-interest?
A) Communism
B) Socialism
C) Rational choice theory
D) Collectivism
- 20. Which type of budgeting method involves allocating resources based on projected future financial performance?
A) Incremental Budgeting
B) Activity-Based Budgeting
C) Flexible Budgeting
D) Zero-Based Budgeting
- 21. Which type of organizational structure encourages employees to work across different functions and collaborate on projects?
A) Flat
B) Vertical
C) Functional
D) Matrix
- 22. Which leadership style involves giving employees complete freedom to make decisions?
A) Laissez-Faire
B) Transactional
C) Democratic
D) Autocratic
- 23. What is the key factor in successful change management?
A) Keeping information secret
B) Effective communication
C) Blaming others
D) Avoiding employee engagement
- 24. Which financial statement shows a company's revenues and expenses over a specific period of time?
A) Income Statement
B) Cash Flow Statement
C) Statement of Shareholders' Equity
D) Balance Sheet
- 25. What is the term for a document outlining a company's planned earnings and expenditures over a specific period?
A) Contract
B) Budget
C) Invoice
D) Memo
- 26. Which type of organizational structure has a clear hierarchy with many levels of management?
A) Network Structure
B) Matrix Structure
C) Flat Structure
D) Tall Structure
- 27. What term describes funds generated or utilized in the normal course of business?
A) Liabilities
B) Financial leverage
C) Working capital
D) Fixed assets
- 28. What is an important skill for effective business communication?
A) Using technical jargon
B) Interrupting others
C) Talking more than listening
D) Active listening
- 29. Which of the following is NOT a form of business ownership?
A) Enterprise
B) Corporation
C) Partnership
D) Sole Proprietorship
- 30. Which term refers to the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors?
A) Market Segmentation
B) Marketing Mix
C) Consumer Behavior
D) Product Differentiation
- 31. What term describes the practice of analyzing an organization's strengths, weaknesses, opportunities, and threats to make informed decisions?
A) PEST Analysis
B) Balanced Scorecard
C) Gap Analysis
D) SWOT Analysis
- 32. What is the term for a sudden, short-term decline in economic activity?
A) Recession
B) Boom
C) Stagnation
D) Inflation
- 33. What is the process of determining the value and worth of assets in a business called?
A) Debt management
B) Revenue projection
C) Asset valuation
D) Liability assessment
- 34. What is the term for the process of converting inputs into outputs to create goods or services?
A) Promotion
B) Performance Measurement
C) Production
D) Planning
- 35. What is the term for the practice of lowering costs by outsourcing tasks to individuals or organizations outside the company?
A) Offshoring
B) Outsourcing
C) Downsizing
D) Benchmarking
- 36. What is a common software tool used for project management?
A) Angry Birds
B) TikTok
C) Instagram
D) Microsoft Project
- 37. What is the term for the process of dividing work into separate tasks performed by different workers?
A) Standardization
B) Specialization
C) Outsourcing
D) Division of Labor
- 38. What is the process of identifying potential candidates for job openings?
A) Recruitment
B) Inventory control
C) Supplier evaluation
D) Product placement
|