Management midterm REVIEWER part2

Question 1

refers to the coordination of work activities through and with other people to accomplish the goals of an organization. It involves both art and science, balancing people skills with systematic processes

Answer 1

Management

Question 2

Managers should:

Answer 2

Make Decisions
Organizing and Staff the Positions
Plan
Control Activities
Lead the group toward its objectives

Question 3

1991

Answer 3

R.A 6977

Question 4

the use of influence to motivate employees to achieve organizational goals.

Answer 4

DIRECTING/ LEADING

Question 5

They measure actual performance and guide it toward some
predetermined goals

Answer 5

Control Activities

Question 6

Micro

Answer 6

Php3m or less in assets and one to nine employees

Question 7

amended by Republic Act 8289 in

Answer 7

1997

Question 8

6977 as Republic Act in

Answer 8

1991

Question 9

ADVANTAGES OF SMALL BUSINESS

Answer 9

1. Personalized relationships with employees and customers.
2. Flexibility in management.
3. Government incentives
4. Simple record keeping
5. Independence

Question 10

refers to the Process, Techniques in coordinating activities of people, the
direction of actions towards common goals.

Answer 10

Management

Question 11

amended by Republic Act 9501 in

Answer 11

2008

Question 12

The ________________ categorizes MSMEs based on their asset size and number of employees

Answer 12

Department of Trade and Industry(DTI)

Question 13

involves the assignment of tasks into departments, and the allocation of
resources to departments. (MEN, MONEY, and MACHINES)

Answer 13

ORGANIZING

Question 14

BIR

Answer 14

Bureau of Internal Revenue (revenue collection)

Question 15

The _________ Enacted by the Philippine Congress

Answer 15

Magna Carta for Small Enterprises (R.A. 6977)

Question 16

THERE ARE TWO KINDS OF SMALL BUSINESSES

Answer 16

micro business
small business

Question 17

can be integrated as part of organizing, which involve putting the right
men to the right jobs.

Answer 17

STAFFING

Question 18

Republic Act 3883

Answer 18

known as the Business Names Law

Question 19

CHARACTERISTICS OF SMALL BUSINESS

Answer 19

1. Labor Intensive.
2. Efficient in a specialized skill or service.
3. Successful in a small, isolated or overlooked markets.
4. Often operates in unstable markets.
5. Closer to the markets.
6. Ownership and management are generally under the same person.
7. Capital comes from the owner or small group.
8. Small are of operation.
9. The size of the business enterprise is small in relation to the industry.

Question 20

They determine the structure and allocation of jobs, and they place people in them

Answer 20

Organizing and Staff the Positions

Question 21

FEATURES OF SMALL BUSINESS

Answer 21

1. It is privately owned.
2. It has a few or no layers of management.
3. Generally, it has insufficient resources to dominate its field of
   business.

Question 22

Medium

Answer 22

Php15,000,001 to Php100,000,000 in assets and 100 to 199 employees

Question 23

Two Government Agencies involved

Answer 23

SEC
DTI – BTRCP

Question 24

ECONOMIC CONTRIBUTIONS OF SMALL BUSINESS

Answer 24

1. Create employment
2. Fill needs of society and big business
3. Introduce innovation
4. Provide competition

Question 25

SSS

Answer 25

Social Security System (social justice)

Question 26

is the attainment of organizational goals in an effective and efficient
manner using functions of planning, organizing, directing and controlling organizational
resources.

Answer 26

Management

Question 27

Large

Answer 27

Php100,000,001 or more in assets and 200 or more employees

Question 28

WHY SMALL BUSINESS FAILS

Answer 28

1. Lack of business experience
2. Lack of financing
3. Lack of adequate sales
4. Poor credit practices
5. Wrong choice of business
6. Lack of business records

Question 29

1997

Answer 29

R.A 8289

Question 30

they motivate subordinates in their performance to
achieve common objectives.

Answer 30

Lead the group toward its objectives

Question 31

SEC

Answer 31

Securities and Exchange Commission

Question 32

PTO

Answer 32

Permit to Operate

Question 33

2008

Answer 33

R.A 9501

Question 34

they develop a process for choosing, from available alternatives, actions that will achieve desired results.

Answer 34

Make Decisions

Question 35

Two important elements by definition of management

Answer 35

The Management functions of planning, organizing, directing and controlling
The attainment of organizational goals in an effective and efficient manner.

Question 36

monitoring of employees activities, determining whether the
organization is in line with goals, and making corrections as necessary, from deviations

Answer 36

CONTROLLING

Question 37

a group changed through a cycle of births and deaths.

Answer 37

Small businesses

Question 38

Small

Answer 38

Php3,000,001.00 to Php15,000,000 in assets and 10 to 99 employees

Question 39

They anticipate the future, discover alternative courses of action, and set guides for
future decisions.

Answer 39

Plan

Question 40

DTI – BTRCP

Answer 40

Department of Trade and Industry, Bureau of Trade
Regulation and Consumer Protection

Question 41

defines where the organization wants to be in the future and how to get
there.

Answer 41

PLANNING

Question 42

DISADVANTAGES OF SMALL BUSINESS

Answer 42

1. Difficulty of raising fund
2. Risk of failure
3. Limited management skills
4. Lack of opportunities for employees