Tag: organization of commerce and management

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Questions Related to organization of commerce and management

Multiple choice organization of commerce and management employee selection process meaning and steps in selection meaning, importance, methods and procedure of selection steps in employee selection process

Your interviewer asks you why would you apply for this job when your only experience is coaching a high school basketball team? Your best response is to :

  1. say "You are just defensive about

    basketball because you are so short.

  2. say I know what you are doing. You are trying to see how I respond to stressful questions. Lets move on to something else.

  3. getup and walk out.

  4. say "You are asking if my experience working with and managing a team can help your company with its committee work and of course those skills will transfer over.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The best response is to bridge the gap between the candidate's experience and the requirements of the job by highlighting transferable skills, such as management and teamwork.

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

KPO is envisaged as having a high potential in sectors viz _______.

  1. patent and copyright related services

  2. other legal research functions

  3. business intelligence and analytics

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

This form of outsourcing is best suited for the following sectors: 
1. Patent and copyright related services 
2. Legal research functions 
3. Business intelligence and analytics.

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

What is/are the advantage(s) of BPO?

  1. Business process speed and efficiency are enhanced.

  2. Organizational growth increases when capital resource and asset expenditures are not required.

  3. Employees may invest more time in core business strategies

  4. All of the above
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 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 advantages of these business are that they promotes effective use of supply chain partners, Increases flexibility in resource management, increases the speed of business process and enhances the efficiency of employees in formulating business strategies.

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

_________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.

  1. Business process outsourcing (BPO)

  2. Knowledge process outsourcing (KPO)

  3. Franchising

  4. Licensing
Reveal answer Fill a bubble to check yourself
B Correct answer
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. 

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

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

  1. Wholesaling

  2. Business process outsourcing (BPO)

  3. Franchising

  4. Joint venture
Reveal answer Fill a bubble to check yourself
B Correct answer
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. 

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

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

  1. offshore vendors

  2. nearshore vendors

  3. onshore vendors

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

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

BPO services include ________.

  1. payroll

  2. human resources

  3. accounting and customer/call center relations

  4. all of the above
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 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

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

Process transparency is a major barrier to using KPO services.

  1. True

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

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

BPO risks include ______.

  1. Data privacy breaches

  2. Underestimated running costs

  3. Over-dependence on service providers

  4. All of the above
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 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. 

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

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

  1. True

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