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Chapter 1: Introduction to business Focus on:
- What is an organization? Profit-oriented or non-profit organizations. - What is a business?
- Stakeholders in the business? Primary stakeholder, secondary stakeholders?
- Objectives of businesses? Mission, vision, goals. Câu hỏi ví dụ:
1.1. Which of the following characteristics do all organizations have in common?
A. Pursuing controlled performance and social arrangement.
B. Pursuing individual goals. C. Pursuing revenue.
D. Pursuing complete integration with the environment.
1.2. Alpha company states in its annual report that it sees itself as becoming the
ASEAN market leader for synthetic tents by 2030. This statement is the company’s: A. Plan. B. Vision. C. Standard. D. Responsibility.
1.3. For a business, which of the following would be classified as secondary objectives?
A. The business’s market share target for next year.
B. The business’s mission statement.
C. The business’s financial objective of wealth maximization.
D. The business’s stock price increasing.
1.4. An entity ensures it can meet the needs of the present without compromising the
ability of future generations to meet their own needs. Which of the following most
accurately describes the way the entity is behaving? A. Responsibly. B. Ethically. C. Sustainably. lOMoARcPSD| 38841209 D. Morally.
1.6. Which of the following company’s stakeholder group is putting the company
under pressure to improve its return on investment? A. Shareholders. B. Customers. C. Suppliers. D. Employees.
1.9. Maximizing the wealth of its shareholders is the stated goal of Averna company.
The company’s objectives have been expressed as a hierarchy of primary and
secondary objectives. Identify which of the following is most likely to be Averna’s
primary business objective.
A. To increase the annual profit after tax by 145% in the next 15 years.
B. To introduce an average of two new products each year for the next 5 years.
C. To double the share price within the next 7 years.
D. To become the market leader in four market segments within the next 10 years.
1.10. Which of the following is the primary stakeholder of a company? A. Shareholder. B. Customer. C. Supplier. D. Government.
1.11 The public sector is normally concerned with: A.
Making profit from the sale of goods.
B. Maximizing owner’s wealth.
C. The provision of basic government services.
D. Raising funds by subscriptions from members to provide common services.
1.12. Which of the following is a not-for-profit organization? A. A bar club. B. A hotel. lOMoARcPSD| 38841209 C. A souvenir shop. D. Charities.
1.18. Letting people specialize in what they do best and pool their expertise refer to
which of the organization’s advantages? A. Time saving. B. Knowledge sharing. C. Expertise pooling. D. Synergy effect.
1.20. SMART in characteristics of operational objectives of a business means: A.
Special, Measurable, Achievable, Realistic and Time-bound.
B. Specific, Measurable, Achievable, Relevant and Time-bound.
C. Special, Managerial, Assessable, Realistic and Time-bound.
D. Specific, Measurable, Assessable, Relevant and Time-bound.
1.33. ABC is a charity providing youth services in large cities. The chief executive is
involved in preparing a document outlining the services provided by the charity. She
wants to stress that it always seeks to operate at maximum efficiency. In stressing this
aspect of the charity’s operations, the chief executive is highlighting the charity’s: A. Vision. B. Mission. C. Plan.
D. Secondary objective.
1.34. The directors of NBC company have made strategic decisions in the past to
enhance their own prestige rather than the wealth of the company’s shareholders.
However, at the recent Annual General Meeting, the shareholders expressed
satisfaction at the company’s recent profit record. It would appear that the directors are involved in:
A. Constraining the business.
B. Revenue maximization. C. Satisficing. lOMoARcPSD| 38841209
D. Profit maximization.