Principles and Practices of Management

371. What is the richest form of information?

  1. Telephone
  2. Face-to-face
  3. E-mail
  4. Video conference

Correct answer: (B)
Face-to-face

372. What is the term for a market that is defined by specific characteristics?

  1. Market niche
  2. Market division
  3. Market characteristic
  4. Market segment

Correct answer: (D)
Market segment

373. What is the term for a process that enables an organisation to assess and demonstrate its social, economic, and environmental benefits and limitation?

  1. Social plan
  2. Social strategy
  3. Social audit
  4. Social account

Correct answer: (C)
Social audit

374. What is the term for a radical rethinking of the nature of the business?

  1. Transformational change
  2. Revolutionary change
  3. Strategic manoeuvre
  4. Paradigm shift

Correct answer: (D)
Paradigm shift

375. What is the term for a sub-optimal but acceptable outcome of negotiations between parties?

  1. Bargaining
  2. Satisficing
  3. Accepting
  4. Compromising

Correct answer: (B)
Satisficing

376. What is the term for an autonomous business entity within an overall corporate enterprise which is set apart from other areas of the business?

  1. Subsidiary
  2. Strategic partnership
  3. Strategic alliance
  4. Strategic business unit

Correct answer: (D)
Strategic business unit

377. What is the term for an organisation that adapts to changes in the environment by quickly responding to shifts in supply and demand conditions?

  1. Opportunistic organisation
  2. Enterprising organisation
  3. International organisation
  4. Agile organisation

Correct answer: (D)
Agile organisation

378. What is the term for decisions limited by human capacity to absorb and analyse information?

  1. Cognitive rationality
  2. Conscious rationality
  3. Bounded rationality
  4. Restricted rationality

Correct answer: (C)
Bounded rationality

379. What is the term for forcing people to accept change?

  1. Conditioning
  2. Conversion
  3. Converting
  4. Coercion

Correct answer: (D)
Coercion

380. What is the term for gaining consumers' express agreement to receive marketing material?

  1. Opt-in marketing
  2. Permission marketing
  3. Targeted marketing
  4. Focused marketing

Correct answer: (B)
Permission marketing

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