THE SCHOOL OF BUSINESS LOGISTICS (CHENNAI)

CONCEPTS OF BUSINESS MANAGEMENT obtain what they need and want through exchanges
with others is a definition of:
1. General Manager is responsible for all functional a) Distribution
areas of business. b) Marketing
a) True c) Business
b) False
12. The desire to drink a Coke instead of orange
2. Business is an Organized Economic Activity. juice is an example of :
a) True a) necessity
b) False b) need
c) demand
3. The Economic system of a Country functions d) want
within the Business system.
a) True 13. What is the focus of marketing management?
b) False a) Distribution
b) Customer Service
4. A Business firm may be owned by the c) Beneficial exchange
government. d) Market Research
a) True
b) False 14. When a consumer purchases a product at a
convenient location and when she is ready to use
5. Management is both an art and science. the product, we say that the product has achieved
a) True _________ utility and _________ utility,
b) False respectively.
a) time, place
6. In a competitive Business, innovation is no longer b) place, time
a) Optional, but necessary c) possession, place
b) Necessary, but optional d) time, possession
c) Competitive
15. Google and Bing are all called:
7. Innovation is a) browsers
a) Invention plus creativity b) webcasters
b) Invention plus commercialization c) search engines
c) Invention plus globalization
16. ______________ is the general term for a
8. Which of the following functions is not a core buying and selling process that is supported by
function of an organization? electronic means.
a) The Accounting and Finance Function a) Internet Commerce
b) The Operations Function b) Electronic Commerce
c) The Products / Service Development Function c) Web Commerce
d) The Marketing (Including Sales) Function
17. Globalization refers to
9. When people buy products to satisfy their needs, a) incomes worldwide
they are really buying the benefits they believe the b) foreign trade and investment
products provide, rather than the products per se. c) a more integrated and interdependent world
a) True
b) False 18. VAT is
a) An Income tax
10. Information available over the Internet is b) A Sales Tax
affecting consumer purchase patterns even when c) A Custom Duty
the purchases are made in traditional retail outlets. d) An Income Duty
a) True
b) False 19. The five elements in the management process
are
11. A social process involving the activities a) plan, direct, update, lead, and supervise
necessary to enable individuals and organizations to b) plan, organize, staff, lead, and control
c) plan, lead, organize, manage, and control
 THE SCHOOL OF BUSINESS LOGISTICS (CHENNAI)

20. Which of the following are the primary functions 30. The Physical Distribution is aligned between
of all organizations? _______________ and is looking at the outward
a) operations, marketing, and human resources flow of finished goods.
b) marketing, human resources, and a) Sales
finance/accounting b) Marketing
c) marketing, operations, and finance/accounting c) Operations
d) Logistics
21. The service sector has lower productivity
improvements than the manufacturing sector 31. Organizations need ________________
because Managers.
a) service sector productivity is hard to measure a) Change
b) the quality of output is lower in services than b) Qualified
manufacturing c) Experienced
c) the service sector uses less skilled labor than
manufacturing 32. Is a commercial document issued by a seller to
the buyer, indicating the products, quantities, and
22. Customer satisfaction can be defined by agreed prices for products or services the seller has
comparing provided the buyer.
a) Predicted service and perceived service. a) Invoice
b) Predicted service and desired service. b) Commercial Document
c) Desired service and perceived service. c) Bill

23. Indian consumers looking for quality choose 33. A commercial document issued by a buyer to a
expensive brands as they feel that price is an seller, indicating types, quantities, and agreed prices
indicator of________. for products or services the seller will provide to the
a) Quality buyer.
b) Service a) Purchase Order
c) Brand Value b) Invoice
d) Durability c) Purchase Intent

24. What are the two types of research data? 34. Organizational Behavior is the study of
a) Primary and secondary. _____________ in the organisation
b) Predictive and quantitative. a) Employee Behavior
c) Qualitative and quantitative. b) Human Behavior

25. ___________________ is essentially the process 35. Systems theory is an outcome of SCM Concept.
of aligning the career needs of the employee with a) True
the organizational career opportunities. b) False
a) Career Growth
b) Career Planning

26. Business Today is about _______________

a) Process driven product
b) Product driven process

27. Supply Chains depend on Business

a) True
b) False

28. A Consumer is a Customer.

a) True
b) False

29. COO refers to

a) Chief Operating Officer
b) Chief Operations Officer