PEOPLE IN BUSINESS (UNIT 2)

Question 1

What is the primary role of a manager in a business?

Answer 1

To plan, organize, lead, and control resources to achieve business objectives.

Question 2

True or False: Entrepreneurs are individuals who start and run their own businesses.

Answer 2

True

Question 3

Fill in the blank: A _________ is a person who buys goods or services for personal use.

Answer 3

consumer

Question 4

What term describes a person who invests in a business and expects a return?

Answer 4

investor

Question 5

Multiple choice: What is the main focus of a marketing manager?

Answer 5

To promote and sell products or services.

Question 6

What is the difference between a leader and a manager?

Answer 6

A leader inspires and motivates, while a manager focuses on organization and control.

Question 7

True or False: Stakeholders are only individuals who own shares in a business.

Answer 7

False

Question 8

What is the term for a person who works for a business and is not an owner?

Answer 8

employee

Question 9

Fill in the blank: A _________ is a person who provides advice and expertise to a business.

Answer 9

consultant

Question 10

Multiple choice: Which of the following is NOT a type of business ownership?

Answer 10

Limited partnership

Question 11

What is the primary responsibility of a financial manager?

Answer 11

To manage the company’s finances and investments.

Question 12

True or False: A business plan is essential for attracting investors.

Answer 12

True

Question 13

What do we call the group of people who make decisions for a corporation?

Answer 13

board of directors

Question 14

Fill in the blank: A _________ is a person who creates and sells a new product or service.

Answer 14

entrepreneur

Question 15

Multiple choice: Which role focuses on developing and maintaining relationships with customers?

Answer 15

Customer service manager

Question 16

What is the role of a human resources manager?

Answer 16

To manage employee recruitment, training, and welfare.

Question 17

True or False: All businesses must have a CEO.

Answer 17

False

Question 18

What term is used for the person responsible for the overall operations of a business?

Answer 18

Chief Operating Officer (COO)

Question 19

Fill in the blank: A _________ is someone who takes on the risk of starting a business.

Answer 19

risk-taker

Question 20

Multiple choice: Which of the following best describes a franchise?

Answer 20

A business model where a franchisee pays for the rights to operate a business using a franchisor’s brand.

Question 21

What is the main focus of an operations manager?

Answer 21

To oversee the production of goods and services.

Question 22

True or False: A business can operate without a marketing strategy.

Answer 22

False

Question 23

What is the term for a business that is owned and operated by one person?

Answer 23

sole proprietorship

Question 24

Fill in the blank: A _________ works with external stakeholders to promote the company’s image.

Answer 24

public relations officer

Question 25

Multiple choice: Which role is primarily responsible for setting the strategic direction of a company?

Answer 25

Chief Executive Officer (CEO)

Question 26

What do we call the individual responsible for managing a company's supply chain?

Answer 26

Supply chain manager

Question 27

True or False: All businesses must have a formal organizational structure.

Answer 27

False