Tag: organization of commerce and management

Questions Related to organization of commerce and management

Which of the following is not an example of 'technical entrepreneur'?

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

  1. User - familiar with marketing or end-use applications

  2. Research - experience of scientific development

  3. Opportunist - experience gained in a non-technical organization

  4. Consolidator - skills in linking technical and business aspects

Show answer
Correct Option: D
Explanation:

A technical entrepreneur is a person who uses technology be it an  app or software for its business purposes.

Consolidator is an example of technical entrepreneur  who uses his/her skills in linking technical and business aspects.

Sheetal is one of the newest and most successful entrepreneurs in the technology industry. She handles numerous dealings with other companies for the exchange of goods and services. Her primary goal is to ensure that all parties involved receive favourable and acceptable terms. Sheetal is most probably excellent at the entrepreneurial skill of_______.

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

  1. Negotiating

  2. Networking

  3. Leadership

  4. Alliance building

Show answer
Correct Option: A
Explanation:

Negotiation is a major part of any business activity. Negotiation is the process for reaching an agreement or conclusion. As Sheetal is good in dealings with her customers she is probably excellent at the entrepreneurial skill of Negotiating.

___ comes in a close second and is content with the personal satisfaction of simply being a business owner. It is derived from being optimistic.

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

  1. The hard workers entrepreneur

  2. The optimizer entrepreneur

  3. The idealist entrepreneur

  4. Sustainer type of entrepreneur

Show answer
Correct Option: B
Explanation:

Optimizer entrepreneur comes in a close second and is content with the personal satisfaction of simply being a business owner.

Everyone has a desire of becoming a business owner and if someone has such a desire then He/She falls in this category

Data analysis and interpretation is _________ in analyzing the market.

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

  1. Circumstantial

  2. Situational

  3. Critical

  4. Conditional

Show answer
Correct Option: C
Explanation:

After the problem has been defined, situation has been analyzed and data specific to the problem has been obtained, the next step comes as data analysis and interpretation.

The data which has been obtained must be analyzed to verify whether it is accurate for the problem under consideration and interpretations regarding it can be made. Data analysis and interpretation is quite critical in analyzing the market.

Analysis be done in the support of experts and right results are _________.

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

  1. Drafted

  2. Crafted

  3. Rafted

  4. Drafted and crafted

Show answer
Correct Option: B
Explanation:

Analysis helps in drawing conclusions. The end result of any analysis is an answer. Analysis be done in the support of experts and the right results are crafted so that a brief and accurate answer can be drawn.

_________ has traditionally been a major source of information about the external world for most entrepreneurs for decision making on the new product.

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

  1. Passive scanning

  2. Environmental scanning

  3. Active scanning

  4. Indirect scanning

Show answer
Correct Option: A
Explanation:

Scanning of opportunities is emerging as an important area in the topic of entrepreneurship. Continuous scanning of the operating environment needs to be done in order to stay competitive.

        Ongoing scanning at an almost unconscious level is called Passive Scanning. No effort is made to select a particular information to scan. It is a continuous process.

What out of the following is entrepreneurship which is totally internal in an organisation:

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

  1. Internal Entrepreneurship

  2. Internal Intrapreneurship

  3. Both a) & b)

  4. None of the above

Show answer
Correct Option: D
Explanation:

Intrapreneurship is like acting as an entrepreneur within the organization. Intrapreneurship is a step towards entrepreneurship. It focuses on self motivation and resolving a specific issues which ultimately helps in achieving the major goals. It focuses on minor goals and hence helps to achieve the entrepreneurship goals in long run. It is a combination of entrepreneurship and management skills.

Span of management refers to

organization of commerce and management management by objectives (mbo) and management by exception (mbe) meaning and definition of mbo meaning and definition of mbe controlling

  1. Number of managers

  2. Length of term for which a manager is appointed

  3. Number of subordinates under a superior

  4. Number of members in top management

Show answer
Correct Option: A
Explanation:

 The Span of Management refers to the number of subordinates who can be managed efficiently by a superior. Simply, the manager having the group of subordinates who report him directly is called as the span of management.

Which of the following  is / are non-traditional control device(s) of control system?

organization of commerce and management management by objectives (mbo) and management by exception (mbe) meaning and definition of mbo meaning and definition of mbe controlling

  1. CPM

  2. PERT

  3. BEP

  4. Both (A) & (B)

Show answer
Correct Option: D
Explanation:
The various techniques of managerial control may be classified into two broad categories: traditional techniques, and modern techniques.
Traditional techniques include: (a) Personal observation (b) Statistical reports (c) Break-even analysis (d) Budgetary control
Modern techniques (non-traditional) include: (a) Return on investment (b) Ratio analysis (c) Responsibility accounting (d) Management audit (e) PERT and CPM (f) Management information system

Match the following :

List I List II
P. Break - Even Analysis 1. Modern control devices
Q. Internal Audit 2. Directed towards the dynamic management of projects
R. Management Audit 3. Traditional control device
S. PERT system 4. Widely used tool of managerial control


Select the correct answer from the options given below -



organization of commerce and management management by objectives (mbo) and management by exception (mbe) meaning and definition of mbo meaning and definition of mbe controlling

  1. P - 4, Q - 3, R - 1, S - 2

  2. P - 3, Q - 4, R - 2, S - 1

  3. P - 3, Q - 4, R - 1, S - 2

  4. P - 4, Q - 3, R - 2, S - 1

Show answer
Correct Option: C
Explanation:
  • Break even analysis is a traditional control device of control system where  the actual revenue performance is compared with the planned revenue performance so that corrective measures can be taken in case of any deviations or difference. 
  • Internal audit is a part of the traditional controlling system where internal audit by the management of the company is undertaken to control the deviations if any for the achievement of organisational goals.
  • Management audit is a technique in which professionals are called by the company to keep a check on the performance of the management of the company and prepare a performance appraisal report for the same.
  • PERT system is a control system which is directed towards the dynamic management in case of dynamic business environment.