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17587947
Description
Quiz on Untitled, created by Razi Aqel on 04/04/2019.
Quiz by
Razi Aqel
, updated more than 1 year ago
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Created by
Razi Aqel
over 5 years ago
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Resource summary
Question 1
Question
Which of the following best defines the term 'stakeholder'?
Answer
Anyone with shares in a company
Anyone with an interest in an organisation
Anyone who owns a business
Anyone who buys a product from the organization
Question 2
Question
Which stakeholder is most interested in profit?
Answer
Staff
Customers
Managers
Owners
Question 3
Question
Which one of the following is an internal stakeholder
Answer
A creditor
A key supplier
An employee
The government
Question 4
Question
What objectives do different groups of stakeholders have?
Answer
No objectives
Different objectives
Similar objectives
Identical objectives
Question 5
Question
The laying-off of staff is NOT in the best benefit of:
Answer
Owners
Customers
Lenders
Employees
Question 6
Question
Staff demand a 5% pay increase. Which stakeholder is most likely to be affected?
Answer
Customers
Owners
Managers
Suppliers
Question 7
Question
As business objectives are set further down along the hierarchy they become increasingly:
Answer
Detailed in nature
Strategic in nature
Financial in nature
Short-term in nature
Question 8
Question
Which of this objectives would be consistent with a corporate objective to reduce costs?
Answer
Increase marketing budget by 10%
Increase average selling price by 15%
Increase labor productivity by 25%
Increase unit costs by 10%
Question 9
Question
A key purpose of setting corporate objectives is to:
Answer
Makes it easier to calculate bonuses for employees
Improve operational efficiency
Provide detailed targets for departments & individuals
Provide focus for all business activities
Question 10
Question
A corporate objective of survival is most likely to be for the following company:
Answer
A well-known Multi-national organization
A long established profitable family business
A start-up company
A public organization
Question 11
Question
The 2 main advantages of successfully achieving a corporate objective to cut-costs are:
Answer
Lower cash & higher profits
Lower costs & more cash
Higher profits & higher expenses
Lower costs & more customers
Question 12
Question
What is a business objective?
Answer
A statement of what the company has achieved
A statement of what the company is trying to achieve
A statement of what the company is currently achieving
A statement of what the company must legally achieve
Question 13
Question
Who normally decides on business objectives for a company in the private sector?
Answer
Customers
Managers
Employees
The government
Question 14
Question
What is an example of stakeholder consideration?
Answer
When owners keep all the profits for themselves.
When some profit is sacrificed to pay staff an annual bonus.
When owners decide to increase profits.
When when managers extend the working day by 1 more hour
Question 15
Question
Which is the best example of a SMART objective?
Answer
To make a 5% profit
To attract 10% more customers sometime next year
To respond to customer inquiries 10% quicker by the end of the current month
To partner-up with a distributor, retailer, a marketing agency, and a competitor by the end of this month
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