Lesson 1

Question 1

It is the organized effort of individuals or groups to produce and sell goods and services for profit.

Answer 1

Business

Question 2

A unit of teaching that typically lasts for one term or semester

Answer 2

Course

Question 3

Academic program designed to equip students with knowledge and skills relevant to the business world.

Answer 3

Business Course

Question 4

What are the 5 Business Courses in the Philippines?

Answer 4

Business Administration
Entrepreneurship
Accountancy
Customs Administration
Real Estate Management

Question 5

Is a broad based academic program that provides students with the knowledge and skills needed to succeed in the world of business.

Answer 5

Business Administration

Question 6

Program under Business Ad.
Is an process of controlling the marketing aspects, setting the goals of a company, organizing the plans step by step, taking decisions for the firm, and executing them to get the maximum turnover by meeting the consumers demand.

Answer 6

Marketing management

Question 7

Program under Business Ad

.
It is all about monitoring, controlling, protecting and reporting on a company’s financial resources.

Answer 7

Financial management

Question 8

4 types of financial management

Answer 8

Planning
Controlling
Organizing and directing
Decision making

Question 9

They oversee the recruiting, the interviewing and hiring of new staff

Answer 9

Hunan Resource Management

Question 10

It is about optimizing processes to efficiently produce goods and services.

Answer 10

Operations management

Question 11

It applies economic principles to business decision making.

Answer 11

Business economics

Question 12

Involves conducting business activities across national borders

Answer 12

International business

Question 13

Is the study and application of information systems that organizations use for data access, management, and analytics.

Answer 13

Management Information Systems

Question 14

Also commonly referred to as logistics, is all about the production, shipment and distribution of products.

Answer 14

Supply chain management

Question 15

A program that centers on how to start and manage a business

Answer 15

Entrepreneurship

Question 16

Two programs under entrepreneurship

Answer 16

Small business management
Franchise management

Question 17

Equip students with the knowledge and skills necessary for a career in accounting and finance

Answer 17

Accountancy

Question 18

Combines the fields of accounting and information technology.

Answer 18

Accounting Information System

Question 19

Equips students with the knowledge and skills needed to function effectively within the dynamic world of customs and international trade

Answer 19

Customs Administration

Question 20

Covers a range of subjects related to the real estate industry

Answer 20

Real Estate Management

Question 21

The concept of __ has acquired special significance in the present competitive and complex business world.

Answer 21

Management

Question 22

6 basic inputs in management

Answer 22

Men
Money
Materials
Machines
Methods
Markets

Question 23

It is the core or life giving element in the business.

Answer 23

Management

Question 24

Act of getting people together to accomplish desired goals and objectives

Answer 24

Management

Question 25

Management can also be defined as ___.

Answer 25

Human action

Question 26

Management is a process and not merely a body of individuals

Answer 26

Management is a managerial process

Question 27

Management takes place through people

Answer 27

Management is a social process

Question 28

Management is always for achieving certain objectives in terms of sales, profit, etc.

Answer 28

Management is action-based

Question 29

Management is the art of getting things done through others.

Answer 29

Management involves achieving results through the efforts of others.

Question 30

Management is not an isolated individual activity but it is a collective activity.

Answer 30

Management is a group activity

Question 31

Management is not directly visible but its presence is noticed in the form of concrete results.

Answer 31

Management is intangible

Question 32

Their existence is absolutely essential in the management process

Answer 32

Management is aided, not replaced by computers

Question 33

Management is comprehensive and covers all departments, activities and employees

Answer 33

Management is all pervasive

Question 34

Management is unique to individuals

Answer 34

Management is an art, science as well as a profession

Question 35

Coordination is the essence of management

Answer 35

Management aims at coordination of activities

Question 36

Management techniques are dynamic and innovative

Answer 36

Management is innovative

Question 37

Every org needs managers for managing business activities

Answer 37

Management has different operational levels

Question 38

Management is concerned with the management of business activities

Answer 38

Management is different from ownership

Question 39

The scope of management is quite comprehensive

Answer 39

Management has vast scope

Question 40

Business is influenced by changes in economic, social, political technological and human resource

Answer 40

Management is dynamic

Question 41

Management is a meaningful activity

Answer 41

Management aims at achieving predetermined objectives

Question 42

It is what management does

Answer 42

Management

Question 43

4 basic functions of management

Answer 43

Planning Organizing Coordinating and Controlling

Question 44

It is a long term goals or objectives

Answer 44

Management

Question 45

It is a short term goals or objectives

Answer 45

Management process

Question 46

It is the overachieving concept of running an organization

Answer 46

Management

Question 47

Day to day operational aspects of management

Answer 47

Management process

Question 48

POSDCORB means

Answer 48

Planning Organizing Staffing Directing Coordinating Reporting Budgeting

Question 49

Primary function of management

Answer 49

Planning

Question 50

It is the key to success

Answer 50

Planning

Question 51

Means to bring the resources

Answer 51

Organizing

Question 52

Arranging ways and means for the execution of a business plan

Answer 52

Organizing

Question 53

A manpower required for the execution of a business plan

Answer 53

Staffing

Question 54

Right man for the right job

Answer 54

Staffing

Question 55

Deals with guiding and instructing people to do the work in the right manner

Answer 55

Directing

Question 56

Co-ordination is rightly treated as the essence of management

Answer 56

Coordinating

Question 57

Is an important function of management

Answer 57

Controlling

Question 58

Manager motivates his men to give their best to org

Answer 58

Motivating

Question 59

It may be written or oral, exchange of facts opinions ideas and info between individuals and department

Answer 59

Communicating

Question 60

According to this principle, there should be complete cooperation between the labour and the management?

Answer 60

Cooperation, not individualism

Question 61

He contributed to the organisation theory by propagating bureaucracy as an ideal form of organisation.

Answer 61

Max weber

Question 62

A book of Kautilya that mainly describe the principles and practices of economics and politics but it also drives ideas concerned with management.

Answer 62

Arthashastra

Question 63

It was a period of time around 10,000 BC when there was a transition from hunting and gathering to developed civilizations.

Answer 63

Agricultural revolution

Question 64

This theory considers the organization as an open system, which has continuous interaction with the environment.

Answer 64

Modern organization theory

Question 65

An important feature of modern organization theory which means that the problems in an organization are dealt in an integrated rather than in a piecemeal manner.

Answer 65

Integrative

Question 66

central aspects of human behavior emphasized in the behavioral science approach that aims to increase productivity.

Answer 66

Motivation Leadership Communication Participative management Group dynamics

Question 67

Who is considered the father of the Neo-Classical Approach?

Answer 67

George elton mayo

Question 68

Who is the founding father of Social system approach?

Answer 68

Chester barnard

Question 69

It is a cooperative system in which persons are able to communicate with each other and are willing to contribute to a common purpose

Answer 69

Social system approach

Question 70

Work should be divided into small tasks

Answer 70

Division of work

Question 71

It is the right to get things done and it is answerability for certain work

Answer 71

Authority and responsibility

Question 72

It is the organizational rules and employment agreement

Answer 72

Discipline

Question 73

Only one boss for every individual

Answer 73

Unity of command

Question 74

One head, one plan

Answer 74

Unity of direction

Question 75

Interest of the org should take priority over any interest of individual

Answer 75

Subordination of individual interest to general interest

Question 76

Should be just and equitable

Answer 76

Remuneration

Question 77

Concentration of decision making authority by top management is called __. It is the delegation of authority

Answer 77

Centralisation and decentralisation

Question 78

Organization should have a chain of authority, top to bottom

Answer 78

Scalar chain

Question 79

A place for everything on its place

Answer 79

Order

Question 80

There should be no discrimination

Answer 80

Equity

Question 81

Act based on position

Answer 81

Stability of personnel

Question 82

Eagerness to initiate action without being asked to do so

Answer 82

Initiative

Question 83

Unity is strength

Answer 83

Espirit de corps

Question 84

Was the 1st person and the father of scientific management

Answer 84

Frederick w. Taylor

Question 85

Basic idea behind the principles of scientific management

Answer 85

Mental revolution

Question 86

3 types of of legitimate authority in org

Answer 86

Traditional, Rational legal, charismatic

Question 87

These experiment directed attention towards social and psychological needs

Answer 87

Evaluation

Question 88

Study of attitudes, behavior, performance of individuals and groups in organizational setting

Answer 88

Organizational behavior

Question 89

Multidimensional and interdisciplinary in nature

Answer 89

Behavioral approach

Question 90

Subsystem of social system approach and focuses on environment

Answer 90

Open system approach

Question 91

It is a back up plan, an open system

Answer 91

Contingency approach

Question 92

It is how to keep the employees motivated

Answer 92

Neoclassical approach

Question 93

Importance of management Leads to progress and prosperity of a business enterprise

Answer 93

Optimum utilization of resources

Question 94

Importance of management Develop Competitive strengths in an enterprise

Answer 94

Competitive strength

Question 95

Importance of management Ensures better life and welfare to employees and raises their morale through suitable incentives

Answer 95

Cordial industrial relation

Question 96

Motivates employees to take more initiatives in the work assigned

Answer 96

Motivation of employees

Question 97

Importance of management Introduction of new machines and new methods

Answer 97

Introduction of new techniques