Business Functions – Test 1

Business function is a ____that is performed routinely to carry out a part of the mission of an organization.

Feature(s) of strategy is/are:

Formulating strategies is the job of ___

Which of the following is concerned with the overall purpose and scope of the business to meet stakeholder expectations?

_____ is concerned more with how a business competes successfully in a particular market and often described as mission statement.

Operational strategy focuses on issues of ____

The ____determines organizational objectives and the policies, programmes, schedules, procedures, and methods for achieving them.

Planning is the ____ of management.

Planning is basically ____

Budget is a ____statement, prepared and approved prior to a defined period of time of the policy to be pursued during that period for the purpose of attaining a given objective. It

Budgeting is the formulation of plans for a given ____in numerical terms.

____ specifies investment in current assets like inventory, debtors, etc., at different points of time.

____specifies at different levels of sales, expected profit level.

Which of the following specifies estimated expenditure to carry out research and development?

____is regarded as the mental processes resulting in the selection of action among alternative scenarios.

Decision making is only efficient when it is supported by process of ____

What do you mean by SCM?

______is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer.

Supply chain management is the oversight of____as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer.

Supply chain management flows includes:
1. Product flow
2. Profit flow
3. Information flow
4. Labour flow
5. Finances flow

The ____includes the movement of goods from a supplier to a customer, as well as any customer returns or service needs.

The ___involves transmitting orders and updating the status of delivery.

The___consists of credit terms, payment schedules, and consignment and title ownership arrangements.

Objective(S) of supply chain management is/are-

Supply chain management is essential to-
P. Company success
Q. Customer satisfaction