Question 1

What is the purpose of organizing in business management?

Accepted Answer

To allocate resources and coordinate activities

Answer

To define goals and objectives

Answer

To create a vision statement

Answer

To implement plans

Question 2

What is the first step in the planning process?

Accepted Answer

Defining the goals and objectives

Answer

Allocating responsibilities

Answer

Identifying resources needed

Answer

Implementing the plan

Question 3

What is the purpose of a budget in business management?

Accepted Answer

To plan and control finances

Answer

To set sales targets

Answer

To hire and train employees

Answer

To create marketing campaigns

Question 4

What is the purpose of a performance appraisal in business management?

Accepted Answer

To evaluate employee's job performance and provide feedback

Answer

To recruit new employees

Answer

To set organizational goals

Answer

To develop marketing strategies

Question 5

What is the purpose of contingency planning in business management?

Accepted Answer

To prepare for potential disruptions and unforeseen events

Answer

To allocate resources and tasks

Answer

To set strategic goals and objectives

Answer

To monitor and evaluate performance

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