Operations & Strategy
What is a SWOT analysis used for in business?
What is a SWOT analysis helps businesses identify their Strengths, Weaknesses, Opportunities, and Threats to develop effective strategies.
What are the four main leadership styles?
What is Autocratic, Democratic, Laissez-Faire, and Transformational?
What is the purpose of an employee handbook?
What is to outline company policies, expectations, and rights to ensure clear communication between employers and employees?
What is the difference between revenue and profit?
What is revenue is the total income from sales, while profit is the remaining income after expenses are deducted?
What is the difference between a mission statement and a vision statement?
What is a mission statement defines a company’s purpose and objectives, while a vision statement outlines long-term goals and aspirations?
What is the role of delegation in effective management?
What is delegation helps managers distribute tasks efficiently, develop employees’ skills, and focus on high-priority responsibilities?
What is the role of corporate social responsibility (CSR) in business?
What is CSR ensures businesses act ethically, support social and environmental causes, and maintain a positive public image?
What is working capital, and why is it important for a business?
What is working capital (Current Assets - Current Liabilities) measures a company’s short-term liquidity and ability to cover expenses?
What is strategic planning, and why is it important for a business?
What is strategic planning involves setting long-term goals, assessing resources, and creating a roadmap for business growth? It ensures alignment and competitive advantage.
What is risk management, and why is it important in business?
What is risk management identifies, assesses, and mitigates potential risks to protect business assets and ensure continuity?
How can businesses prevent workplace discrimination?
What is by implementing anti-discrimination policies, conducting diversity training, and enforcing equal opportunity hiring practices?
How do financial statements help in decision-making?
What is they provide insights into profitability, cash flow, and financial health, guiding investment and management decisions?
How does market identification influence business strategy?
What is understanding the target market helps businesses tailor marketing efforts, product offerings, and pricing strategies for maximum impact?
What is business continuity planning, and how does it help companies during a crisis?
What is a strategy to ensure operations continue during emergencies, minimizing disruption and financial losses ?
What is ethical decision-making in business, and why is it important?
What is it involves choosing actions that align with moral values, legal requirements, and social responsibility to maintain trust and credibility?
What is the time value of money, and how does it affect business investments?
What is the concept of dollar today is worth more than a dollar in the future due to its earning potential? Businesses use this to evaluate investment opportunities.
What is the purpose of benchmarking in business management?
What is benchmarking involves comparing a company's performance metrics to industry standards or competitors to improve efficiency and effectiveness?
What are the different types of business insurance, and why are they important?
What is general liability, property, worker’s compensation, and cyber insurance protect businesses from financial losses due to unexpected events?
What is succession planning?
What is an HR strategy that focuses on preparing employees for leadership roles through mentorship, skill development, and career path planning?
What is capital budgeting, and why is it used in long-term financial planning?
What is capital budgeting assesses large investments like new projects or equipment to ensure long-term profitability?