MCQs

Qus1) Innovation is defined as,

1. The commercialization of a new product or process.
2. The invention of a new product or process.
3. A new product or process idea.
4. The implementation of a new production method.

Qus2) Which one of the queries is not a common measurement component of a call centre?

1. How satisfied are the customers with the service the received?
2. How long does it take to resolve a customer's query?
3. How many orders have been processed this week?
4. How long does it take to answer a call?

Qus3) The 'Plan, Do, Check, Act' cycle is also known as ___________ .

1. PD cycle
2. Deming's cycle
3. Newton's cycle
4. Patrick's cycle

Qus4) When you monitor performance you are comparing,

1. Only current sales data with last year's sales
2. Current value of Australian dollar with Japanese Yen
3. Actual results with the planned performance
4. Customer service skills of you and your co-worker

Qus5) Which of the following is not theory related to Continuous Improvement?

1. TQM (Total quality management)
2. Kaizen
3. Lean manufacturing
4. SWOT

Qus6) A key performance indicator can be

1. A number
2. A percentage
3. A ratio
4. All of the above

Qus7) For an organization which produces and sells soft drinks, the supply chain would be,

1. Retail consumption ProcurementProduction Distribution
2. ProcurementProduction Distribution Retail consumption
3. Procurement Production Collection Delivery Sales
4. Distribution ProcurementProductionSales Consumption

Qus8) In relation to sustainability, Green office program may mean,

1. Changing the colour of everything into green.
2. A computerized method of designing better products
3. A program that helps everyone to play a role in reducing collective environmental impact
4. A concept that encourages to plant trees around office premises.

Qus9) When your manager asks you to become more efficient in terms of resource use; what should you do?

1. Reduce waste and do your job using minimum resources
2. Use more resources
3. Increase budget
4. Initiate a risk taking approach

Qus10) What is triple bottom line reporting?

1. A reporting procedures where three different profits are shown
2. It is same as TQM (total quality management)
3. Accounting framework that incorporates three dimensions of performance: social, environmental and financial
4. A reporting procedure to monitor CO2(carbon dioxide) emissions.

Qus11) Network of facilities that procures raw materials, transforms them into intermediate products or services and then finished goods or service, and delivers them through a distribution system is known as,

1. Product channelling
2. Redistribution
3. Network systems
4. Supply chain systems

Qus12) _________ provide useful information when completing reviews of an organization's programs, systems and processes.

1. Maps
2. Triple bottom line
3. Trends
4. Supply chain

Qus13) JIT i.e. just in time is an useful term in

1. Internet security
2. Supply chain
3. Performance evaluation
4. Human resource management

Qus14) Identify the benefit of seeking external advice while reviewing systems and processes;

1. Get an review which is unbiased
2. Good knowledge from industry best practices
3. Have ability to suggest a range of ideas
4. All of the above

Qus15) To implement the new computer system into 90% of the business units by 5^th March 2017 is an example of

1. Vision statement
2. Mission statement
3. Action plan
4. SMART Target

Qus16) How would you know that your company's product (or services) is standardised?

1. Quality assurance report - internal
2. Third party (consultant or experts) report
3. International recognitions i.e. ISO, GMP etc.
4. All of the above

Part B

Qus17) For small business owners, one of the most important objectives is _______.

1. Growth
2. Market dominance
3. Profitability
4. Innovation

Qus18) Which one of the following is best described 'the business is independently own and operated, and it does not dominate the market'.

1. Corporation
2. Small business
3. Strategic alliance
4. Cooperative society

Qus19) Which one of the following is not considered as key component of business plan?

1. Sources of funding
2. Market trends analysis
3. Performance evaluation
4. Methods for dissolution of the organization

Qus20) ________ is defined as a form of business that is an association of two or more people acting as co-owners of a business.

1. Partnership
2. Corporation
3. Conglomerate
4. Proprietorship

Qus21) A good market research will help you to make an informed decision about what market, or its consumers want.

This statement is,

1. False
2. True
3. True but only in case of consumer products
4. None of the above

Qus22) Operational planning is,

1. Same as production planning
2. Same as strategic planning
3. Day to day implementation of strategic planning
4. Not important as strategic planning

Qus23) Susana is about to start a business. She is thinking of how much capital she could borrow and leasing arrangements with other company. She has an appointment today with the local bank manager to discuss interest payment schedules. She is busy in,

1. Marketing arrangements
2. Personnel requirements
3. Research and business analysis
4. Financing arrangements

Qus24) The financial section of your business plan may include all except,

1. Compliance summary
2. Budget
3. Balance sheet
4. Profit and loss statement

Qus25) After careful analysis, it has been found that you need some more skilled staff for day to day operation of your business, it is a

1. Financing decision
2. Marketing decision
3. Management decision
4. Product decision

Qus26) Identify key stakeholders for your business ;

1. Customers
2. Suppliers
3. Business partners
4. All of the above

Qus27) To manage your staff closely, which one of these most effective means of consultation?

1. Email communications
2. One to one meetings
3. Newsletters
4. None of the above.

Qus28) The existing stock of goods, equipments and facilities are your

1. Financial resources
2. Human resources
3. Physical resources
4. Liabilities

Qus29) To identify your business's permits and license requirements which website you should be visiting,

1. ablis.business.gov.au
2. australiaunlimited.com
3. ato.gov.au
4. fwc.gov.au

Qus30) When determining performance objectives and measures for your business, you need to use

1. SWOT analysis
2. SMART criteria
3. Venn diagram
4. Continuous improvement plan

Qus31) Businesses may be affected by some external changes that could make operations and achieving targets difficult. Which one of these is an external change?

1. Relocation of offices
2. Senior leadership change
3. New printer purchase in admin office
4. Political change such as new government bringing new policies

Qus32) Which statement should be created first and foremost? a. Strategic Plan b. Vision c. Objectives d.Mission