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IBE-FF22A1-Mid Semester Exam Paper

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35 views5 pages

IBE-FF22A1-Mid Semester Exam Paper

Uploaded by

Demian De silva
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Introduction to Business Environments FND05IBM - FF22A1

Prepared by; Ms. Vithara Mannage

Instructions to candidates:

There are 25 MCQ questions in this paper and you’re supposed to choose the correct
answer for each question. Please read and follow the instructions carefully. This exam is
worth 25% of the module.

Allocated Time: 60 Minutes


……………………….………………………………………………………………………………………………………………………

01. A ___business function ____________ is a process or operation that is performed


routinely to carry out a part of the mission of an organization.
A. business organization
B. business function
C. strategy
D. mission

02. Which of the following type of business is not a “Public Sector Business”
A. Public Cooperatives
B. Public Services
C. Local Authorities
D. Public Limited Companies

03. Which out of the following is not a type of business depending on the sector.
A. Primary Sector
B. Secondary Sector
C. Industry Section
D. Tertiary Sector

04. Which of the following SWOT elements are internal factors for a business?
A. Strengths and Weaknesses
B. Opportunities and Threats
C. Strengths and Opportunities
D. Weaknesses and Threats

05. Which of the following is false regarding why a SWOT Analysis is used?
A. To build on the strengths of a business
B. To minimize the weaknesses of a business
C. To reduce opportunities available to a business
D. To counteract threats to a business
06. Which of the following could be a strength to a business?
A. Weather
B. A new international market
C. A price that is too high
D. The location of a business

07. Which of the following could be a weakness of a business?


A. A developing market such as the Internet
B. Competitors with access to better channels of distribution
C. Poor quality of goods and services
D. Special marketing expertise

08. Which of the following could be an opportunity for a business?


A. Having quality processes and procedures
B. Moving into new market segments that offer improved profits
C. Damaged reputation
D. A new competitor in your home market

09. Which of the following could be a threat to a business?


A. Changes in technology
B. A market vacated by an ineffective competitor
C. Location of your business
D. Lack of marketing expertise

10. What is the main purpose of Porter’s Five Forces Model?


A. Decide which products to launch
B. Manage product portfolios
C. Analyse competition in a market
D. Inform investment appraisal decisions

11. In Porter's five forces model, what is meant by the term 'substitute'?
A. A substitute is an alternative product or service that performs the same function
for the consumer
B. A substitute refers to an alternative manufacturing process
C. A substitute is something else consumers would rather spend their money on
D. A substitute is a rival firm offering a different product

12. Which of the following forces does not form part of Porter’s Competitive Position
Analysis?
A. Supplier power
B. Competitive rivalry
C. Risk of losses
D. Buyer power
13. A market will usually be more difficult to enter if there is,
A. Patented and protected
B. Common technology
C. Wide access to distribution channels
D. Low brand loyalty

14. Used to describe a framework for the analysis of macroenvironmental factors:


A. Market Analysis
B. SWOT Analysis
C. Situational Analysis
D. PESTLE Analysis

15. Which of the following is considered as a Social Factor?


A. Career attitudes
B. R&D activity
C. Environmental regulations
D. Interest rates

16. This type of strategy calls for the development of a product or service that offers unique
attributes that are valued by customers:
A. Cost leadership Strategy
B. Differentiation Strategy
C. Focus Strategy
D. No Frills Strategy

17. This strategy concentrates on a narrow segment and within that segment attempts to
achieve either a cost advantage or differentiation.
A. Cost leadership Strategy
B. Differentiation Strategy
C. Focus Strategy
D. No Frills Strategy
18. A ______________ is the order or levels of responsibility in an organization, from the
lowest to the highest.
A. hierarchy
B. structure
C. regulation
D. responsibility

19. The number of people a person is directly responsible for in an organization is called,
A. Chain of Command
B. Unity of Control
C. Centralization
D. Span of Control
20. ______________________ is a type of business organization where major decisions are
made at the centre or core of the organization and then passed down the chain of
command.
A. Decentralized structure
B. Centralized Structure
C. Flat Structure
D. Narrow Structure

21. The study of morals and principles governing the rights and wrongs of human conduct is
called
A. Social responsibility
B. Philosophy
C. Ethics
D. Culture

22. Which of the following should not be a reason for a business to be ethical and socially
responsible?
A. To save costs
B. Employee satisfaction
C. Increased customer loyalty
D. Increased stakeholder satisfaction

23. ____________________ assumes that people pursue ethical standards because it suits
them so to do.
A. Transcendental ethics
B. Ethical relativism
C. Tactical ethics
D. Social ethics

24. A business may grow by


‘ A. Increasing its existing line of business
B. Adding new markets
C. Adding new product ranges
D. All of the above

25. ________________ are specified actions suggested to achieve the objectives.


A. Policies
B. Strategies
C. Management
D. Board of Directors

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