This form of organisation is owned and operated by a single individual
What is a Sole Trader/Proprietor
100
This is the term used when people in the Traditional economic system exchanged goods and services
What is Barter
100
this functional area is responsible for recruiting, training, firing and dealing with conflict among workers
What is Personnel/Human Resource function(department)
100
This is a report detailing the overall aims of the business, the marketing strategy, production costs and financial needs of a business start-up
What is a Business Plan
100
A mutual agreement between two or more persons
What is a Contract
200
This form of organisation is run owned by 2 to 20 persons
What is a Partnership
200
The United States is an example of this economic system
What is a Free Market Economy
200
State the advantages of conglomerate business
Opportunity for training and transfer of staff between industries
Good cash position
200
This type of market research entails the gathering and analysis of original first-hand data
What is Primary Market Research
200
This is an expression of willingness to contract on certain terms, made with the intention that it will be binding on acceptance
What is an Offer
300
Burger King is an example of this for of organisation
What is a franchise
300
In this economy the government is the central planning body of every economic activity
What is a Planned/Command Economy
300
This type of leader's dominant trait is his/her personality, inspiring their follower by their mere presence
What is a Charismatic Leader
300
This section of the Business Plan contains brief details of the main business plan report
What is the Executive Summary
300
"Garage Sale, Elm Street, 555-5555" is an example of this
What is a General Offer
400
It consists of 2 or more companies that trade in unrelated goods or services, often in unrelated industries
What is a Conglomerate
400
Resources in this economy are owned and controlled by both the state and private individuals
What is a Mixed Economy
400
Line, Staff, Functional, Horizontal and Vertical organisations are all examples of this
What is an Organisational Structure/Chart
400
This section of the business plan is a key section as it contains the projected start-up capital, forecasted balance sheet, etc
What is the Financial Plan
400
This type of business document is given to the buyer when the seller owes the buyer and has a "no refund" policy
What is a Credit Note
500
This form of organisation is owned by its members but run by board of directors elected by the owners
What is a Co-operative
500
In this economy the main role of the government is to provide guidance and financial aid to private businesses
What is a Free Market Economy
500
One of management's function is to motivate employees and several theories are used to guide management. This theory by Maslow is one of the most common theory used
What is Maslow's Hierarchy of Needs
500
This is an investigation outlining whether or not a new business is likely to earn the profits expected from it
What is a Feasibility Study
500
Mortgage and Sale of Land Contracts are both examples of this