Business Studies Quiz 3

The sum total of all individuals, institutions and other forces that are outside the control of a business enterprise but that may affect its performance is known as_____________

Name the concept that refers to the number of subordinates that can be effectively managed by a superior and determines the number of levels of management in the organisation.

Which step in the process of planning will precede the step in which the manager is required to make certain assumptions about the future, which are the base material upon which the plans are drawn.

“Availability and affordability of the product were considered to be the key to the success of a firm.” Identify the concept of marketing management highlighted by this statement.

Product cost sets the lower limits of the price, the utility provided by the product and the intensity of demand of the buyers sets the upper limit. So, in case of inelastic demand, total revenue ………………when price increases

The technique of Scientific Management given by Taylor, which aims to establish interchangeability of manufactured parts and products is ...…………

The CEO of Radhe Cycles Pvt Ltd. Mr. Kumar wants to get maximum output from the employees at a competitive cost. On the other hand Ramakaant, an employee of the company wants to get the maximum salary while working the least. The Principle of management given by Fayol being violated by Ramakaant is ----------------.

Planning requires logical and systematic thinking rather than guess work. The feature of planning being referred to in the above statement is:

“Following a pre-decided plan, when circumstances have changed, may not turn out to be in the organisation's interest.” The limitation of planning being referred to in the above statement is--------------------.

The marketing management philosophy which is based on the premise that any activity which satisfies human needs but does not pay attention to the ethical and ecological aspects of marketing cannot be justified is known as: