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Business Studies Test - 30
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Business Studies Test - 30
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  • Question 1/10
    5 / -1

    How many principles are given by Henri Fayol?

    Solutions

    Henri Fayol developed the concept of general theory of administration through 14 principles of management and he was a practitioner explained what must be included as managerial tasks to improve overall administration. Information based on personal experience while working in various managerial positions.

  • Question 2/10
    5 / -1

    Unity of direction is concerned with____________

    Solutions

    Unity of direction and unity of command are quite similar but there is main difference that in unity of command there should be one boss of a employee that can give order to him but in unity of direction there should be one plan that is most important and head can order to that employees that are related to that plan only.

  • Question 3/10
    5 / -1

    Gang Plank means ___________

    Solutions

    Communication through the scalar chain may involve delays when two subordinates or employees at the same level want to exchange ’ information. Thus, Fayol suggested the concept of ‘Gang Plank’ to avoid delays and allow direct communication between two subordinates at the same level. Gang Plank is useful as it helps in making direct contact in case of emergency. This idea of Fayol shows that his principles are flexible and can be modified as per the situation.

  • Question 4/10
    5 / -1

    Read the passage and answer the question that follow:

    Planning is a fundamental managerial function that sets the direction for the entire organization. It involves setting clear objectives, defining the activities needed to achieve them, and deciding on the best course of action. The process includes creating premises, evaluating alternatives, and selecting the best plan to meet the objectives. Effective planning ensures that the organization is focused, avoids redundant efforts, and prepares for any uncertainties or changes in the business environment. However, planning is not a one-time event; it is a continuous process that requires regular updates to adapt to new challenges and opportunities.

    What is the first step in the planning process?

    Solutions

    Setting objectives

    The passage clearly states that setting objectives is the first step in the planning process.

  • Question 5/10
    5 / -1

    Read the passage and answer the question that follow:

    Planning is a fundamental managerial function that sets the direction for the entire organization. It involves setting clear objectives, defining the activities needed to achieve them, and deciding on the best course of action. The process includes creating premises, evaluating alternatives, and selecting the best plan to meet the objectives. Effective planning ensures that the organization is focused, avoids redundant efforts, and prepares for any uncertainties or changes in the business environment. However, planning is not a one-time event; it is a continuous process that requires regular updates to adapt to new challenges and opportunities.

    Why is planning considered a continuous process?

    Solutions

    Due to the need for regular updates based on new conditions

    The passage explains that planning is continuous as it requires regular updates to adjust to changes in the business environment.

  • Question 6/10
    5 / -1

    Read the passage and answer the question that follow:

    Planning is a fundamental managerial function that sets the direction for the entire organization. It involves setting clear objectives, defining the activities needed to achieve them, and deciding on the best course of action. The process includes creating premises, evaluating alternatives, and selecting the best plan to meet the objectives. Effective planning ensures that the organization is focused, avoids redundant efforts, and prepares for any uncertainties or changes in the business environment. However, planning is not a one-time event; it is a continuous process that requires regular updates to adapt to new challenges and opportunities.

    What role does planning play in an organization?

    Solutions

    It provides direction and avoids redundancy

    The passage emphasizes that planning provides direction and minimizes redundant efforts by coordinating actions within the organization.

  • Question 7/10
    5 / -1

    Read the passage and answer the question that follow:

    Planning is a fundamental managerial function that sets the direction for the entire organization. It involves setting clear objectives, defining the activities needed to achieve them, and deciding on the best course of action. The process includes creating premises, evaluating alternatives, and selecting the best plan to meet the objectives. Effective planning ensures that the organization is focused, avoids redundant efforts, and prepares for any uncertainties or changes in the business environment. However, planning is not a one-time event; it is a continuous process that requires regular updates to adapt to new challenges and opportunities.

    What is meant by 'premises' in the context of planning?

    Solutions

    Assumptions made about the future

    'Premises' refer to assumptions about the future, which form the basis for making plans, as per the passage.

  • Question 8/10
    5 / -1

    Read the passage and answer the question that follow:

    Planning is a fundamental managerial function that sets the direction for the entire organization. It involves setting clear objectives, defining the activities needed to achieve them, and deciding on the best course of action. The process includes creating premises, evaluating alternatives, and selecting the best plan to meet the objectives. Effective planning ensures that the organization is focused, avoids redundant efforts, and prepares for any uncertainties or changes in the business environment. However, planning is not a one-time event; it is a continuous process that requires regular updates to adapt to new challenges and opportunities.

    How does planning help organizations deal with uncertainties?

    Solutions

    By preparing for changes and anticipating challenges

    The passage states that planning allows organizations to prepare for changes and manage uncertainties in the business environment.

  • Question 9/10
    5 / -1

    Export promotion is concerned with _________

    Solutions

    Globalization means interaction of a company or an organization with world economy. Importing and exporting is one of the major factor of globalization, hence export promotion is concerned with globalization.

  • Question 10/10
    5 / -1

    What will be the affect of increase in tax by the government?

    Solutions

    Tax is paid by the owners of the business or a company to the government, such taxes are included in the cost of production. Production costs can include a variety of expenses, such as labor, raw materials, consumable manufacturing supplies, and general overhead. 

    Therefore, an increase in taxes will definitely increase the cost of production and will reduce the profits.

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