Tag: employment opportunities in commerce

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Questions Related to employment opportunities in commerce

Multiple choice organization of commerce and management employment opportunities in commerce outsourcing employment opportunities in insurance sector and capital market emerging service business in india

One Advantage of outsourcing the services is ________________.

  1. it is economical

  2. it helps in diversifying the business

  3. the time zone problem is solved

  4. all of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Companies outsource primarily to cut costs i.e. for achieving he economies of scale and also about reaping the benefits of strategic outsourcing such as skilled expertise, specialized performance so that better results can be obtained, eventually generating more profits.

Multiple choice organization of commerce and management employment opportunities in commerce outsourcing employment opportunities in insurance sector and capital market emerging service business in india

The contracting of a specific business task, such as payroll to a third party service provider is ______________.

  1. BPO

  2. Insourcing

  3. Outsourcing

  4. Offshore outsourcing .
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Business Process Outsourcing, refers to the contracting of specific business tasks such as payroll, human resource or accounting to any third service provider company so that company can focus mainly on its core activities. Usually BPO is implemented as a cost saving measure.

Multiple choice organization of commerce and management employment opportunities in commerce outsourcing employment opportunities in insurance sector and capital market emerging service business in india

Advantages of BPO is/are
I. Effective use of supply chain partners
II.Quick supplies from the vendors
III.Increased flexibility in its resource management
IV.Increased speed of business processes
Select the correct answer from the options given below.

  1. III, I and II

  2. IV, II & I

  3. II, III & IV

  4. I, III & IV
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Business process outsourcing is a form of business where a company sets contract with an outside company for the completion of a task through electronic process in exchange of a certain amount of payment for the company. The advantages of these business are that they promotes effective use of supply chain partners, Increases flexibility in resource management and increases the speed of business process. 

Multiple choice organization of commerce and management employment opportunities in commerce outsourcing employment opportunities in insurance sector and capital market emerging service business in india

BPO stands for ________________.

  1. Bharat Petro Organisation

  2. Business Process Outsourcing

  3. Big Portfolio Outsourcing

  4. Business Partners Organisation
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

BPO stands for Business process outsourcing which refers to a form of business where a company sets contract with an outside company for the completion of a task through electronic process in exchange of a certain amount of payment for the company.

This form of business face many challenges in day to day life like the contractual length of the task, the competition and lack of confidentiality of the information shared between the business.

 The advantages of these business are that they promotes effective use of supply chain partners, Increases flexibility in resource management and increases the speed of business process. 

Multiple choice commerce emerging service business in india franchising outsourcing and franchising recent trends of business employment opportunities in commerce

Franchising is similar to licensing.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Under a franchise, the owner (franchisor) retains control of the brand and licenses (that is, grants permissions to) the franchisee to use its successful business model and brand. Licensing of intellectual property (IP) is at the heart of a franchise contract. So, in fact, a franchise includes licensing.

Multiple choice commerce emerging service business in india franchising outsourcing and franchising recent trends of business employment opportunities in commerce

Franchising is the practice of using another firm's successful business model.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchiser licenses its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee

Multiple choice commerce emerging service business in india franchising outsourcing and franchising recent trends of business employment opportunities in commerce

______ usually set strict rules and regulations as to how the franchisees should operate while running their business.

  1. Franchising

  2. BPO

  3. KPO

  4. All of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchiser licenses its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee. 

Multiple choice commerce emerging service business in india franchising outsourcing and franchising recent trends of business employment opportunities in commerce

Characteristic(s) of franchising include(s) ______.

  1. It is a replication of some successful business format

  2. It takes place in case of businesses with a good track record of profitability

  3. It applies to business which are easily duplicated and replicated

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

There are five key characteristics that, more than any others, determine success as a franchisee. They are Any business start-up involves some risk of failure, but a strong franchise with a proven track record of success will minimize this risk.

To see if franchising will suit you check out these nine characteristics:
  • Strong desire to improve business skills.
  • Likes to use proven systems/structure.
  • Believes that customers must be highly valued.
  • Some entrepreneurial spirit.
  • Open to change and feedback.
  • Real ambition to grow a business.
  • Committed to the power of a brand.
Multiple choice commerce emerging service business in india franchising outsourcing and franchising recent trends of business employment opportunities in commerce

Franchising can be terminated before the expiry of franchising period.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Arrangement where one party (the franchiser) grants another party (the franchisee) the right to use its trademark or trade-name as well as certain business systems and processes, to produce and market a good or service according to certain specifications. The franchisee usually pays a one-time franchise fee plus a percentage of sales revenue as royalty, and gains 

(1) immediate name recognition, 
(2) tried and tested products, 
(3) standard building design and décor, 
(4) detailed techniques in running and promoting the business, 
(5) training of employees, and (6) ongoing help in promoting and upgrading of the products.

Multiple choice commerce emerging service business in india franchising outsourcing and franchising recent trends of business employment opportunities in commerce

Franchising enables the franchiser to increase his goodwill and reputation by expanding his network.

  1. false

  2. partly false

  3. true

  4. partly true
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A franchise is a business opportunity that allows the franchisee to start a business by legally using the franchiser's expertise, ideas, and processes. This helps the franchiser to grow his business in the market and increases the goodwill of the franchiser.