Tag: organisation of commerce and management

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Questions Related to organisation of commerce and management

Multiple choice organisation of commerce and management concept of market and marketer marketing environment meaning and definition of marketer role of marketing

Marketing management is responsible for _______ .

  1. establishing the sales goals for the organisation

  2. developing a marketing programme to achieve the set goals

  3. maintaining the effectiveness of the organisation

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

Marketing management is responsible for setting sales and marketing goals, developing strategic marketing programs to achieve those goals, and ensuring the overall effectiveness and competitiveness of the organization. Therefore, all of the statements are correct.

Multiple choice organisation of commerce and management concept of market and marketer marketing environment meaning and definition of marketer role of marketing

In the word 'POSDCORB' CO stands for _____.

  1. co-operation.

  2. communication.

  3. coordinating.

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

In the acronym POSDCORB, which represents the key functions of management, CO stands for coordinating. The other letters stand for Planning, Organizing, Staffing, Directing, Reporting, and Budgeting.

Multiple choice organisation of commerce and management concept of market and marketer marketing environment meaning and definition of marketer role of marketing

Generic goods are __________.

  1. goods that are not identified and agreed upon at the time of the contract.

  2. goods that are identified at the time of sale.

  3. goods whose sale depends on obtain contingency.

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Generic or unascertained goods are those that are not specifically identified and agreed upon at the time the contract of sale is made. They are typically defined only by description or sample.

Multiple choice organisation of commerce and management concept of market and marketer marketing environment meaning and definition of marketer role of marketing

Competitive rivalry assessment does NOT include an understanding of _________.

  1. the extent to which competitors are in balance.

  2. market growth rates.

  3. fixed costs and operational efficiency.

  4. the evaluation of an individual talent.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Competitive rivalry assessment in strategic management focuses on industry-wide factors such as competitor balance, market growth, and fixed costs. Evaluating the talent of a single individual is a human resource function rather than an industry-level competitive analysis.

Multiple choice joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

Which is true as far as a Joint Venture is concerned?

  1. The dual ownership arrangement may not lead to conflicts, resulting in battle for control between the investing firms.

  2. Foreign firms entering into joint ventures does not share the technology and trade secrets with local firms.

  3. Joint venture is a very common strategy for entering into foreign markets.

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

A joint venture is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance.

Multiple choice joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

________ can also be described as any form of association which implies collaboration for more than a transitory period.

  1. Joint venture

  2. Licensing

  3. Contract Manufacturing

  4. Wholly Owned Subsidiaries
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A joint venture is a business entity created by two or more parties, generally characterised by shared ownership, shared returns and risks, and shared governance.

Multiple choice joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

_____ makes it possible to execute large projects requiring huge capital outlays and manpower.

  1. Wholly Owned Subsidiaries

  2. Franchising

  3. Joint venture

  4. Contract manufacturing
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Since the joint venture is not a legal entity, it does not enter into contracts, hire employees, or have its own tax liabilities. These activities and obligations are handled through the co-venturers directly and are governed by contract.

Multiple choice joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

Benefits of joint ventures does not include ______________________.

  1. access to new markets and distribution networks

  2. sharing of risks and costs with a partner

  3. access to greater resources, including specialized staff, technology and finance

  4. the partners have different objectives for the joint venture
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A joint venture is a temporary business association between two or more persons or organisations for profit without forming a permanent partnership, corporation, or other business entity. Members of the joint venture maintain their independence.

Multiple choice joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

Success in a joint venture depends on comprehensive research and a detailed analysis of aims and objectives.

  1. True

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

  • Employee: If the risks of business ownership scare you and you lack an entrepreneurial spirit, business ownership is likely not for you, whether it be your own.

  • Creative entrepreneur: If you possess a creative mind that feels constricted by boundaries and models, starting your own business is likely your best bet.

  • Executive entrepreneur: If you are comfortable operating within a proven system and value support over autonomous freedom, franchising may be for you.

Multiple choice joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

A joint ownership venture may be brought about in which of the following way(s)?

  1. Foreign investor buying an interest in a local company.

  2. Local firm acquiring an interest in an existing foreign firm.

  3. Both the foreign and local entrepreneurs jointly forming a new enterprise.

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

A joint venture (JV) is a business entity created by two or more parties, generally characterised by shared ownership, shared returns and risks, and shared governance.Most joint ventures are incorporated, although some, as in the oil and gas industry, are "unincorporated" joint ventures that mimic a corporate entity.