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Business Studies

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11

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E-Commerce Company Founders

easy
Business Studies

Amazon, founded in 1994, is an e-commerce giant. Who founded it?

A
Bill Gates
B
Jeff Bezos
C
Jack Ma
D
Elon Musk
Explanation and memory cue

Amazon was founded by Jeff Bezos in 1994, making option B the correct answer. The other options are founders or prominent figures of different companies.

12

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E-Commerce Company Founders

easy
Business Studies

Alibaba Group, founded in 1999, is an e-commerce website created by:

A
Jack Ma
B
Jeff Bezos
C
Zhang Yiming
D
Elon Musk
Explanation and memory cue

Alibaba Group was founded in 1999 by Jack Ma, a Chinese entrepreneur, making option A the correct answer.

13

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Internet Business Terms

easy
Business Studies

Business conducted with the help of the internet is called ____:

A
Courier service
B
E-commerce
C
Credit card
D
None of these
Explanation and memory cue

Business conducted with the help of the internet is known as E-commerce, which involves buying and selling goods or services online.

14

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Company founders

easy
Business Studies

Who founded Tesla for electric cars and SpaceX for space exploration?

A
Jeff Bezos
B
Elon Musk
C
Bill Gates
D
Richard Branson
Explanation and memory cue

Elon Musk is the founder of Tesla, which produces electric cars, and SpaceX, a company focused on space exploration. The other options are founders of different companies or industries.

15

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Modern performance appraisal methods

medium
Business Studies

Modern methods of performance appraisal are _____________?

A
Graphic Rating
B
Force Distribution
C
BARS
D
Easy method
Explanation and memory cue

Modern methods of performance appraisal include techniques like BARS (Behaviorally Anchored Rating Scales), which provide more objective and behavior-focused evaluations compared to traditional methods. Options like Graphic Rating and Force Distribution are older or less precise methods, and 'Easy method' is not a recognized appraisal technique.

16

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Office correspondence

easy
Business Studies

The form of official correspondence used for communication between various divisions is called:

A
Office Memorandum
B
Demi-Official Letter
C
Un-Official letter
D
Memorandum
Explanation and memory cue

A Memorandum (or memo) is the official form of correspondence used for communication between various divisions within an organization. It is more specific than 'Office Memorandum' and is the standard term for internal communication.

17

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360-degree feedback

easy
Business Studies

The combination of peer, superior, subordinate, and self-review appraisal is known as ____________?

A
HR Planning
B
360-degree feedback
C
MBO
D
Strategic Fit
Explanation and memory cue

The combination of peer, superior, subordinate, and self-review appraisal is known as 360-degree feedback, which gathers performance information from multiple sources to provide a comprehensive evaluation.

18

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Single-use plans

easy
Business Studies

Which of the following is not a single-use plan?

A
Budget
B
Target
C
Rule
D
Quota
Explanation and memory cue

A rule is a standing plan designed to guide repetitive actions, whereas single-use plans are created for one-time projects or activities. Budget, target, and quota are typically single-use plans because they are set for specific periods or goals.

19

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Performance appraisal techniques

easy
Business Studies

__________ is a performance appraisal technique that involves agreement between employee and manager on goals to be achieved in a given period.

A
Rating scales
B
BARS
C
BOS
D
MBO
Explanation and memory cue

Management by Objectives (MBO) is a performance appraisal technique where the employee and manager agree on specific goals to be achieved within a set period, making it the correct answer. The other options refer to different appraisal methods that do not primarily focus on mutual goal-setting.

20

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Job specification

easy
Business Studies

Job specification is a statement of ____________?

A
Min qualification required for a job
B
Technical job requirement
C
Task & Duties
D
Machines knowledge
Explanation and memory cue

A job specification details the minimum qualifications, skills, and attributes required for a person to perform a job effectively, making option A the correct choice.