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IBC > Lesson 1 > Flashcards

Lesson 1 Flashcards

1
Q

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

A

Business

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2
Q

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

A

Course

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3
Q

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

A

Business Course

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4
Q

What are the 5 Business Courses in the Philippines?

A

Business Administration
Entrepreneurship
Accountancy
Customs Administration
Real Estate Management

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5
Q

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

A

Business Administration

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6
Q

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.

A

Marketing management

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7
Q

Program under Business Ad

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

A

Financial management

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8
Q

4 types of financial management

A

Planning
Controlling
Organizing and directing
Decision making

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9
Q

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

A

Hunan Resource Management

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10
Q

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

A

Operations management

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11
Q

It applies economic principles to business decision making.

A

Business economics

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12
Q

Involves conducting business activities across national borders

A

International business

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13
Q

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

A

Management Information Systems

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14
Q

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

A

Supply chain management

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15
Q

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

A

Entrepreneurship

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16
Q

Two programs under entrepreneurship

A

Small business management
Franchise management

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17
Q

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

A

Accountancy

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18
Q

Combines the fields of accounting and information technology.

A

Accounting Information System

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19
Q

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

A

Customs Administration

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20
Q

Covers a range of subjects related to the real estate industry

A

Real Estate Management

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21
Q

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

A

Management

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22
Q

6 basic inputs in management

A

Men
Money
Materials
Machines
Methods
Markets

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23
Q

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

A

Management

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24
Q

Act of getting people together to accomplish desired goals and objectives

A

Management

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25
Q

Management can also be defined as ___.

A

Human action

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26
Q

Management is a process and not merely a body of individuals

A

Management is a managerial process

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27
Q

Management takes place through people

A

Management is a social process

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28
Q

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

A

Management is action-based

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29
Q

Management is the art of getting things done through others.

A

Management involves achieving results through the efforts of others.

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30
Q

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

A

Management is a group activity

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31
Q

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

A

Management is intangible

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32
Q

Their existence is absolutely essential in the management process

A

Management is aided, not replaced by computers

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33
Q

Management is comprehensive and covers all departments, activities and employees

A

Management is all pervasive

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34
Q

Management is unique to individuals

A

Management is an art, science as well as a profession

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35
Q

Coordination is the essence of management

A

Management aims at coordination of activities

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36
Q

Management techniques are dynamic and innovative

A

Management is innovative

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37
Q

Every org needs managers for managing business activities

A

Management has different operational levels

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38
Q

Management is concerned with the management of business activities

A

Management is different from ownership

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39
Q

The scope of management is quite comprehensive

A

Management has vast scope

40
Q

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

A

Management is dynamic

41
Q

Management is a meaningful activity

A

Management aims at achieving predetermined objectives

42
Q

It is what management does

A

Management

43
Q

4 basic functions of management

A

Planning
Organizing
Coordinating and
Controlling

44
Q

It is a long term goals or objectives

A

Management

45
Q

It is a short term goals or objectives

A

Management process

46
Q

It is the overachieving concept of running an organization

A

Management

47
Q

Day to day operational aspects of management

A

Management process

48
Q

POSDCORB means

A

Planning
Organizing
Staffing
Directing
Coordinating
Reporting
Budgeting

49
Q

Primary function of management

A

Planning

50
Q

It is the key to success

A

Planning

51
Q

Means to bring the resources

A

Organizing

52
Q

Arranging ways and means for the execution of a business plan

A

Organizing

53
Q

A manpower required for the execution of a business plan

A

Staffing

54
Q

Right man for the right job

A

Staffing

55
Q

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

A

Directing

56
Q

Co-ordination is rightly treated as the essence of management

A

Coordinating

57
Q

Is an important function of management

A

Controlling

58
Q

Manager motivates his men to give their best to org

A

Motivating

59
Q

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

A

Communicating

60
Q

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

A

Cooperation, not individualism

61
Q

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

A

Max weber

62
Q

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

A

Arthashastra

63
Q

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

A

Agricultural revolution

64
Q

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

A

Modern organization theory

65
Q

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.

A

Integrative

66
Q

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

A

Motivation
Leadership
Communication
Participative management
Group dynamics

67
Q

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

A

George elton mayo

68
Q

Who is the founding father of Social system approach?

A

Chester barnard

69
Q

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

A

Social system approach

70
Q

Work should be divided into small tasks

A

Division of work

71
Q

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

A

Authority and responsibility

72
Q

It is the organizational rules and employment agreement

A

Discipline

73
Q

Only one boss for every individual

A

Unity of command

74
Q

One head, one plan

A

Unity of direction

75
Q

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

A

Subordination of individual interest to general interest

76
Q

Should be just and equitable

A

Remuneration

77
Q

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

A

Centralisation and decentralisation

78
Q

Organization should have a chain of authority, top to bottom

A

Scalar chain

79
Q

A place for everything on its place

A

Order

80
Q

There should be no discrimination

A

Equity

81
Q

Act based on position

A

Stability of personnel

82
Q

Eagerness to initiate action without being asked to do so

A

Initiative

83
Q

Unity is strength

A

Espirit de corps

84
Q

Was the 1st person and the father of scientific management

A

Frederick w. Taylor

85
Q

Basic idea behind the principles of scientific management

A

Mental revolution

86
Q

3 types of of legitimate authority in org

A

Traditional, Rational legal, charismatic

87
Q

These experiment directed attention towards social and psychological needs

A

Evaluation

88
Q

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

A

Organizational behavior

89
Q

Multidimensional and interdisciplinary in nature

A

Behavioral approach

90
Q

Subsystem of social system approach and focuses on environment

A

Open system approach

91
Q

It is a back up plan, an open system

A

Contingency approach

92
Q

It is how to keep the employees motivated

A

Neoclassical approach

93
Q

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

A

Optimum utilization of resources

94
Q

Importance of management
Develop Competitive strengths in an enterprise

A

Competitive strength

95
Q

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

A

Cordial industrial relation

96
Q

Motivates employees to take more initiatives in the work assigned

A

Motivation of employees

97
Q

Importance of management
Introduction of new machines and new methods

A

Introduction of new techniques

IBC (1 decks)

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