Question 1

Which of the following items is required to develop a better financial plan?&#10;A)identify your target market.&#10;B)consider employee lay-offs.&#10;C)prioritize your needs.&#10;D)research other companies.

Accepted Answer

Prioritizing needs is essential in developing a better financial plan as it helps in allocating resources efficiently and setting financial goals.

Question 2

Which of the following is an example of an external threat?&#10;A)decreased competition.&#10;B)new trade regulations.&#10;C)global sales potential.&#10;D)economies of scale.

Accepted Answer

New trade regulations are considered an external threat because they are changes in the legal and regulatory environment that can negatively impact a business's operations, costs, or competitive position. These are external to the company and can arise from government policy changes, international trade agreements, or geopolitical shifts.

Question 3

Which of the following is an example of an internal strength?&#10;A)obsolete resources.&#10;B)changing tax structure.&#10;C)proven management.&#10;D)increased competition

Accepted Answer

Proven management is considered an internal strength because it refers to the capabilities and effectiveness of the management team within an organization, which is a factor that can directly influence the organization's success and is within its control.

Question 4

Which objective gives importance to productivity, technological leadership, employee relations, etc?&#10;A)long-term objective.&#10;B)short-term objective.&#10;C)medium term objective.&#10;D)annual objective.

Accepted Answer

Long-term objectives focus on achieving goals over an extended period, often incorporating broad aspects such as productivity, technological leadership, and employee relations to ensure sustainable growth and competitive advantage.

Question 5

What bridges the gap between strategy formulation and implementation?&#10;A)strategic planning.&#10;B)strategic management.&#10;C)decision-making.&#10;D)organizing.

Accepted Answer

The answer of What bridges the gap between strategy formulation...

Question 6

What describes the market, product and technological area of a business?&#10;A)company\s vision.&#10;B)company\s mission.&#10;C)bumper-sticker strategy.&#10;D)strategic plan.

Accepted Answer

A company's mission describes the market, product, and technological area of a business, outlining its purpose and primary objectives.

Question 7

How can a firm optimize its environmental opportunities?&#10;A)by assessing its market share .&#10;B)by assessing the competitiveness in the industry.&#10;C)by assessing the effectiveness of its sales distribution.&#10;D)by assessing its competitors position in the market.

Accepted Answer

The answer of How can a firm optimize its environmental...

Question 8

Which of the following helps a manager identify the opportunities and threats in the competitive industrial environment?&#10;A)analyzing the competitive forces.&#10;B)market research.&#10;C)market analysis.&#10;D)sales analysis.

Accepted Answer

Analyzing the competitive forces helps a manager identify the opportunities and threats in the competitive industrial environment by examining factors such as rivalry among existing competitors, the threat of new entrants, the bargaining power of buyers, the bargaining power of suppliers, and the threat of substitute products or services. This approach is often associated with Porter's Five Forces framework.

Question 9

Which one of the following represents the best long-run opportunity in a firm's portfolio?&#10;A)cash cow.&#10;B)star.&#10;C)question mark.&#10;D)dog.

Accepted Answer

Stars represent the best long-run opportunity in a firm's portfolio because they have high growth and high market share, indicating strong future profit potential.

Question 10

In which of the following pricing approaches is pricing based on consumer demand?&#10;A)functional approach.&#10;B)business approach.&#10;C)market approach.&#10;D)innovative approach.

Accepted Answer

The market approach to pricing is based on consumer demand, as it considers what customers are willing to pay based on perceived value, competition, and market conditions.

Question 11

A/an ---- helps people understand the behavior patterns that are expected of them in particular circumstances&#10;A)advisory policy.&#10;B)explicit policy.&#10;C)mandatory policy.&#10;D)implicit policy.

Accepted Answer

The answer of A/an ---- helps people understand the behavior...

Question 12

Agricultural market set up by stae government to procure agricultural produce directly from farmers&#10;A)haats&#10;B)mandis&#10;C)kirana&#10;D)public distribution system

Accepted Answer

The answer of Agricultural market set up by stae government...

Question 13

Consumer do their own picking, pay in cash and carry the merchandise away A.&#10;A)tomated vending&#10;B)super market&#10;C)the cash and carry&#10;D)direct response retail

Accepted Answer

The answer of Consumer do their own picking, pay in...

Question 14

What are the major determinants of employee motivation?&#10;A)reward and coercive power.&#10;B)new technologies.&#10;C)personal power and future growth prospects.&#10;D)information and connection power.

Accepted Answer

The answer of What are the major determinants of employee...

Question 15

At what stage is the threat from competitors at its peak in an industry?&#10;A)growth stage.&#10;B)embryonic stage.&#10;C)mature stage.&#10;D)shakeout stage

Accepted Answer

The answer of At what stage is the threat from...

Question 16

---- forms the basis for the allocation of corporate resources.&#10;A)financial evaluation.&#10;B)organizational growth.&#10;C)organizational structure.&#10;D)organizational culture.

Accepted Answer

The answer of ---- forms the basis for the allocation...

Question 17

---- is often critical for the proper accomplishment of a divestiture and can provide comfort to the employee as well as to potential buyers.&#10;A)a flexible management.&#10;B)a stable management.&#10;C)an active management&#10;D)none of the above.

Accepted Answer

The answer of ---- is often critical for the proper...

Question 18

Identifying the customers is the ,............... step of retail business&#10;A)second&#10;B)third&#10;C)first&#10;D)last

Accepted Answer

The answer of Identifying the customers is the ,............... step...

Question 19

......Is very important for retail store&#10;A)product&#10;B)site&#10;C)transportation&#10;D)machine

Accepted Answer

The answer of ......Is very important for retail store&#10;A)product&#10;B)site&#10;C)transportation&#10;D)machine...

Question 20

The best grocery store must be target ing.......&#10;A)high income group&#10;B)low income group&#10;C)all income groups&#10;D)medium income group

Accepted Answer

The answer of The best grocery store must be target...

Question 21

interior and ....is very important for retail store&#10;A)product&#10;B)site&#10;C)transportation&#10;D)hygiene

Accepted Answer

The answer of interior and ....is very important for retail...

Question 22

A proper layout of a store increases.........&#10;A)product&#10;B)efficiency&#10;C)transportation&#10;D)machine

Accepted Answer

The answer of A proper layout of a store increases.........&#10;A)product&#10;B)efficiency&#10;C)transportation&#10;D)machine...

Question 23

Best service of a retail store create a&#10;A)image&#10;B)task&#10;C)workforce&#10;D)machine

Accepted Answer

The answer of Best service of a retail store create...

Question 24

Maintaining standard of a Store can attract..........&#10;A)customers&#10;B)sellers&#10;C)mediators&#10;D)none of these

Accepted Answer

The answer of Maintaining standard of a Store can attract..........&#10;A)customers&#10;B)sellers&#10;C)mediators&#10;D)none...

Question 25

every store target different.......&#10;A)price&#10;B)segment&#10;C)promotion&#10;D)brand

Accepted Answer

The answer of every store target different.......&#10;A)price&#10;B)segment&#10;C)promotion&#10;D)brand...

Deck 5: Business Management and Retail Operations