Question 1

What is the purpose of a business plan?

Accepted Answer

To outline the goals and strategies of a business.

Answer

To manage employee schedules.

Answer

To handle customer complaints.

Answer

To calculate profit margins.

Question 2

What is the purpose of a mission statement?

Accepted Answer

To define the company's core purpose and values.

Answer

To outline specific business goals.

Answer

To create employee performance metrics.

Answer

To develop marketing strategies.

Question 3

What is the purpose of a performance appraisal?

Accepted Answer

To evaluate an employee's job performance and provide feedback.

Answer

To conduct disciplinary actions.

Answer

To assign work responsibilities.

Answer

To determine salary increases.

Question 4

What is the purpose of a budget?

Accepted Answer

To plan and control financial resources.

Answer

To measure employee productivity.

Answer

To evaluate customer satisfaction.

Answer

To analyze competitive market trends.

Question 5

What is the purpose of organizational structure in business management?

Accepted Answer

To define the hierarchy and division of responsibilities within a company.

Answer

To develop marketing campaigns.

Answer

To calculate financial ratios.

Answer

To conduct customer surveys.

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