BUSINESS ENTERPRISE SIMULATION

I. MULTIPLE CHOICES
Direction: Read the question carefully. Choose the best answer and write it in the space provided.
___1. What is Entrepreneur?
a. A person, organisation or group that has an inerest in the success of an organisation.
b. A middle manager who helps to make tactical decisions.
c. An individual who develops a business idea and combines the factors of production.
d. A sole trader who puts up a business.
___2. What is Tactical decisions?
a. Medium-term decisions
b. Long-term decisions made by senior managers
c. Short-term decisions made by departmental managers
d. High-term decisions made by local managers
___3. What is Strategic Decisions?
a. Long-term decisions made by senior managers
b. Medium-term decisions
c. Short-term decisions made by departmental managers
d. High-term decisions made by local managers
___4. How can ICT help with decision making?
a. The decision-making process will be slower because of untrained staff.
b. The decision-making process will cost the organization more money.
c. The decision-making process will be completed more quickly and efficiently.
d. The decision-making process will serve as their strategic plans for business.
___5. These are the six stakeholders.
a. Children, parents, local community, government, police, employees.
b. Employees, local community, government, customers, local council, media.
c. Students, government, customers, pupils, local community, police.
d. Government, children, church, employees, local community, parents.
___6. How can these stakeholders influence business?
a. Stakeholders have an effective on all business as they may be able to exert control over or influence
decisions which have to be made.
b. Stakeholders have an effective on the business because they have shares in it giving them a say.
c. Stakeholders have an effective on the business because they work in the organization.
d. Stakeholders have an effective on the business they are top source of a business.
___7. What will happen when the organization widens the span of control?
a. A manager is able to supervise staff closely, which may put staff under greater pressure.
b. A manager would be responsible for a smaller amount of subordinates.
c. A high degree of delegation is required which needs a high quality of staff.
d. A high degree of delegation is required which needs a high quality of organization.
___8. What is an entrepreneurial structure?
a. Control and decision-making is delegated to departments, which relieves senior management from
routine dat to day tasks.
b. Decisions are made by a few people at the core of the organization.
c. Procedures can be standardized for purchasing.
d. Procedures can be standardized for hiring.
___9. These are the four sources of information that an organization would use.
a. Written, oral, visual, audio
b. Primary, nursery, secondary, external
c. Primary, secondary, internal, external
 d. Written, oral, visual, internal
___10. These are the types of decision managers from a large organization make.
a. Strategic
b. Tactical, operational
c. Strategic, tactical, operational
d. Operational, strategic
II. MATCHING TYPE.
Direction: in column A are the 10 analysis types to identify market opportunities. In column B are the
definitions of analysis types. Simply match each word from column A to the definition in column B.

COLUMN A

___ Consumer segmentation

___ Purchase situation analysis
___ Direct competition analysis
___ Indirect competition analysis
___ Analysis of complementary products and services
___ Analysis for other industries
___ Foreign Markets Analysis
___ Environment Analysis
___ E-Learning
___ Management Consulting

COLUMN B

a. These characteristics can be “hard” variables such as age, gender, place of residence, educational level,
occupation and level of income or “soft” variables such as lifestyle, attitude, values and purchasing
motivations.
b. Payment methods and all other circumstances that involve purchasing decisions can teach you how
consumers buy and how you can position your product appropriately.
c. It is important to analyse supply. Knowing the existing players in the market where you are competing
or going to compete is important when evaluating opportunities.
d. Opportunities can also be found by analysing substitute industries.
e. Companies should monitor the performance of other companies’ products, which are complementary
to their own.
f. In some cases, the objective of companies is not to continue operating within an industrial sector but to
expand a certain business model or philosophy.
g. When a company operates in a mature or saturated market, exploring other countries may lead to
additional opportunities. Markets in different countries grow at different paces for several reasons,
including disparities in the level of economic development and local habits.
h. Market opportunities can also be identified by analysing changes in the environment with
technological and scientific developments generating new business opportunities.
i. Learning electronically through the internet takes advantage of technology to allow tutors and other
educators to reach broader audiences.
j. Management consultants serve big firms, small boutique shops, and everything in between. Smaller
businesses often will use consultants for individual projects because they may not have full-time
employees on staff with appropriate expertise.
 III. ENUMERATION

1-3. What are the ways of empowering employees.

7-10. What are steps in writing a perfect business plan.

IV. ESSAY TYPE (5points each)

a. What is Business enterprise simulation?

b. What is the importance of business plan?
c. Is social networking an effective platform for promoting and advancing businesses?
d. Is it important to build a conducive and positive culture in workplaces, and why?