Tag: organisation of commerce and management

Questions Related to organisation of commerce and management

Marketing management is responsible for _______ .

organisation of commerce and management concept of market and marketer marketing environment meaning and definition of marketer role of marketing

  1. establishing the sales goals for the organisation

  2. developing a marketing programme to achieve the set goals

  3. maintaining the effectiveness of the organisation

  4. All the above

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Correct Option: D

In the word 'POSDCORB' CO stands for _____.

organisation of commerce and management concept of market and marketer marketing environment meaning and definition of marketer role of marketing

  1. co-operation.

  2. communication.

  3. coordinating.

  4. costing.

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Correct Option: C

Generic goods are __________.

organisation of commerce and management concept of market and marketer marketing environment meaning and definition of marketer role of marketing

  1. goods that are not identified and agreed upon at the time of the contract.

  2. goods that are identified at the time of sale.

  3. goods whose sale depends on obtain contingency.

  4. none of the above

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Correct Option: A

Competitive rivalry assessment does NOT include an understanding of _________.

organisation of commerce and management concept of market and marketer marketing environment meaning and definition of marketer role of marketing

  1. the extent to which competitors are in balance.

  2. market growth rates.

  3. fixed costs and operational efficiency.

  4. the evaluation of an individual talent.

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Correct Option: D

Which is true as far as a Joint Venture is concerned?

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. The dual ownership arrangement may not lead to conflicts, resulting in battle for control between the investing firms.

  2. Foreign firms entering into joint ventures does not share the technology and trade secrets with local firms.

  3. Joint venture is a very common strategy for entering into foreign markets.

  4. All of the above

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Correct Option: C
Explanation:

A joint venture is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance.

________ can also be described as any form of association which implies collaboration for more than a transitory period.

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. Joint venture

  2. Licensing

  3. Contract Manufacturing

  4. Wholly Owned Subsidiaries

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Correct Option: A
Explanation:

A joint venture is a business entity created by two or more parties, generally characterised by shared ownership, shared returns and risks, and shared governance.

_____ makes it possible to execute large projects requiring huge capital outlays and manpower.

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. Wholly Owned Subsidiaries

  2. Franchising

  3. Joint venture

  4. Contract manufacturing

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Correct Option: C
Explanation:

Since the joint venture is not a legal entity, it does not enter into contracts, hire employees, or have its own tax liabilities. These activities and obligations are handled through the co-venturers directly and are governed by contract.

Benefits of joint ventures does not include ______________________.

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. access to new markets and distribution networks

  2. sharing of risks and costs with a partner

  3. access to greater resources, including specialized staff, technology and finance

  4. the partners have different objectives for the joint venture

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Correct Option: D
Explanation:

A joint venture is a temporary business association between two or more persons or organisations for profit without forming a permanent partnership, corporation, or other business entity. Members of the joint venture maintain their independence.

Success in a joint venture depends on comprehensive research and a detailed analysis of aims and objectives.

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. True

  2. False

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Correct Option: A
Explanation:

  • Employee: If the risks of business ownership scare you and you lack an entrepreneurial spirit, business ownership is likely not for you, whether it be your own.

  • Creative entrepreneur: If you possess a creative mind that feels constricted by boundaries and models, starting your own business is likely your best bet.

  • Executive entrepreneur: If you are comfortable operating within a proven system and value support over autonomous freedom, franchising may be for you.

A joint ownership venture may be brought about in which of the following way(s)?

joint ventures private, public and global enterprises public sector, private sector and global enterprises organisation of commerce and management business studies

  1. Foreign investor buying an interest in a local company.

  2. Local firm acquiring an interest in an existing foreign firm.

  3. Both the foreign and local entrepreneurs jointly forming a new enterprise.

  4. All of the above

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Correct Option: D
Explanation:

A joint venture (JV) is a business entity created by two or more parties, generally characterised by shared ownership, shared returns and risks, and shared governance.Most joint ventures are incorporated, although some, as in the oil and gas industry, are "unincorporated" joint ventures that mimic a corporate entity.