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 employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

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

  1. True

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

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

Challenges faced by KPO companies include _______.

  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
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. 

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

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

What is the most suitable situation for an entrepreneur to know that its product is going to sustain in the market?

  1. Value delivered = Customer's expectations

  2. Value delivered < Customer's expectations

  3. Value delivered > Customer's expectations

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

When the value delivered to a customer exceeds their expectations, it creates customer delight and loyalty, which is a strong indicator of market sustainability.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

Select the statement, which is not true for Entrepreneurs 

  1. They have leading power of quality

  2. They change the way businesses convent inputs into outputs.

  3. They apply innovative ideas.

  4. They generally stick to the processes already in use.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Entrepreneurs are defined by their innovative spirit and willingness to disrupt existing processes, rather than sticking to traditional or established methods.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

What is central for enhancing the economic opportunity of nations & organizations.

  1. Entrepreneur

  2. Intrapreneur

  3. Manager

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

Entrepreneurs are considered central to economic growth because they identify opportunities, mobilize resources, and create value, which drives development.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

The Entrepreneur doing business within the national border is called. 

  1. International Entrepreneur.

  2. Intrapreneur.

  3. Domestic Entrepreneur

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

A domestic entrepreneur operates within the boundaries of their own country, as opposed to an international entrepreneur who engages in cross-border trade.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

Which statement is not true of entrepreneurs?

  1. They apply innovative ideas.

  2. They take risks

  3. They change the way businesses convert inputs into outputs

  4. They generally stick to the processes already in use
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

This is a repeat of the concept that entrepreneurs are innovators; sticking to existing processes is the opposite of entrepreneurial behavior.

Multiple choice organization of commerce and management entrepreneurship: an introduction, nature, importance and problems functions and role of an entrepreneur entrepreneurs types of entrepreneurs

The Entrepreneur must possess the abilities:

  1. Creative

  2. Conceptualization

  3. Understanding environment

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

Successful entrepreneurs require a diverse skill set, including creativity for innovation, conceptualization for strategy, and the ability to analyze the business environment.