Tag: employment opportunities in commerce

Questions Related to employment opportunities in commerce

_________is a form of outsourcing, in which knowledge-related and information-related work is carried out by workers in a different company or by a subsidiary of the same organization.

organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

  1. Business process outsourcing (BPO)

  2. Knowledge process outsourcing (KPO)

  3. Franchising

  4. Licensing

Show answer
Correct Option: B
Explanation:

Knowledge process outsourcing (KPO) is a form of outsourcing where Knowledge-related and information-related data is carried out by the workers of the contractual companies ( often the third party) or by a subsidiary of the same organisation. 

_____ is the contracting of non-primary business activities and functions to a third-party provider.

organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

  1. Wholesaling

  2. Business process outsourcing (BPO)

  3. Franchising

  4. Joint venture

Show answer
Correct Option: B
Explanation:

Business process outsourcing is a form of business where a company sets contract with an outside third party company for the completion of a non primary business task through electronic process in exchange of a certain amount of payment for the third party. 

A business can achieve total process optimization by combining the _____ categories.

organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

  1. offshore vendors

  2. nearshore vendors

  3. onshore vendors

  4. all of the above

Show answer
Correct Option: D
Explanation:

A business can achieve total process optimization if its all the vendors including offshore, nearshore and onshore are combined together for the efficiency in business activities. 

BPO services include ________.

organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

  1. payroll

  2. human resources

  3. accounting and customer/call center relations

  4. all of the above

Show answer
Correct Option: D
Explanation:

Business process outsourcing is a form of business where a company sets contract with an outside third party company for the completion of a non primary business task through electronic process in exchange of a certain amount of payment for the third party.

The services provided by BPO includes:

1. Payroll often regarded as billing services 

2. Human resources where human resource are used for productive purpose 

3. Accounting and customer call centers often regarded as tech support

Process transparency is a major barrier to using KPO services.

organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

Knowledge process outsourcing (KPO) is a form of outsourcing where Knowledge-related and information-related data is carried out by the workers of the contractual companies ( often the third party) or by a subsidiary of the same organisation. 

In such kind of business, process transparency is a major barrier as the process remains transparent to the whole world.

BPO risks include ______.

organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

  1. Data privacy breaches

  2. Underestimated running costs

  3. Over-dependence on service providers

  4. All of the above

Show answer
Correct Option: D
Explanation:

Business process outsourcing is a form of business where a company sets contract with an outside third party company for the completion of a non primary business task through electronic process in exchange of a certain amount of payment for the third party.

This form of business face many risk in day to day life like the contractual risk, under-estimation and lack of confidentiality of the information shared between the business units. 

BPO categories are front-office customer services (such as tech support) and back-office business functions (such as billing).

organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

Business process outsourcing is a form of business where a company sets contract with an outside third party company for the completion of a non primary business task through electronic process in exchange of a certain amount of payment for the third party.

Business process outsourcing usually have 2 categories:

1. Back office functions: Payroll often regarded as billing services 

2. Front office customer services : Customer call centers often regarded as tech support

KPO is claimed to efficiently increase productivity and increase cost savings in the area of market research.

organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

  1. True

  2. False

Show answer
Correct Option: A
Explanation:

True. 

Knowledge process outsourcing (KPO) is a form of outsourcing where Knowledge-related and information-related data is carried out by the workers of the contractual companies ( often the third party) or by a subsidiary of the same organisation. 
Since KPO deals in transmitting knowledge related information, it has increased productivity and cost of savings in the area of market research. 

Challenges faced by KPO companies include _______.

organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

  1. High staff turnover, especially where work is not challenging to the employee's skills

  2. High cost of training and tendency to lose the most experienced employees to the clients

  3. Ensuring the security and confidentiality of information, especially when privacy laws vary from country to country

  4. All of the above

Show answer
Correct Option: D
Explanation:

Knowledge process outsourcing (KPO) is a form of outsourcing where Knowledge-related and information-related data is carried out by the workers of the contractual companies ( often the third party) or by a subsidiary of the same organisation. 

The challenges faced by such form of outsourcing are:
1. Staff turnover due to unmatched skills 
2. High cost of training of employees
3. Lack of confidentiality of information