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IB Business Management Mock Exams Questions with Correct Answers 2025
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IB Business Management Mock Exams Questions with Correct Answers 2025
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IB Business Management Mock ExamsQuestions with Correct Answers 2025
EmpowermentE-ECORRECTEANSWERE-WhenEyouEareEgivenEtheEauthorityEorEpowerEtoEdoEsomething
HowEempowermentEcanEpositivelyEaffectEjobEsatisfactionE-ECORRECTEANSWERE-
InstillingEaEsenseEofEtrustEfromEmanagementEandEaEsenseEofEaccomplishmentEandEprideEinEone'sEworkEenvir
onment
WhatEemployeesEseeEthroughEempowermentE-ECORRECTEANSWERE-
EmployeesEcanEseeEthatEtheyEareEanEintegralEpartEofEtheEbusinessEandEpartEofEitsEsuccess.
FunctionsEofEmanagementE-ECORRECTEANSWERE-
Planning,Ecoordinating,Ecommanding,Econtrolling,Eorganizing
PlanningEfunctionEofEmanagementE-ECORRECTEANSWERE-
settingEorganizationalEgoals,EdevelopingEstrategiesEtoEreachEthoseEgoals,EdeterminingEresourcesEneeded,Es
ettingEpreciseEstandardsE(aEmanagerEsetsEoutEhowEtoEachieveEshortEandElong-
termEgoalsEorEobjectives.EObjectivesEwereEdiscussedEinEsectionE1.3E-EstrategicE(long-term),EtacticalE(short-
term)EandEoperationalE(day-to-day)Eobjectives.)
CoordinatingEfunctionEofEmanagementE-ECORRECTEANSWERE-
aEmanagerEmustEcoordinateEtheEactivitiesEofEdifferentEdepartmentsEwithinEanEorganisation.EThatEmightEme
anEensuringEsuppliersEknowEwhichEgoodsEtoEproduceEandEwhen,EthatEstoresEreceiveEtheEproductEatEtheErig
htEtimeEtoEsellEit,EthatEfinancingEisEinEplaceEtoEpurchaseEtheEgoodsEandEthatEmarketingEisEreadyEwithEitsEadEc
ampaign.EAllEtheseEactivitiesEmustEbeEcoordinatedEsoEthat,EwhenEaEcompanyErollsEoutEitsEproduct,EtheEroll-
outEisEaEsuccess
CommandingEfunctionEofEmanagementE-ECORRECTEANSWERE-
thisEaspectEofEaEmanager'sEjobEinvolvesEgivingEinstructionsEtoEemployeesEandEensuringEworkEperformanceEi
sEofEaEhighEstandard.ESometimesEmanagersEneedEtoEinterveneEifEanEemployee'sEjobEperformanceEisEnotEsati
sfactory.
ControllingEfunctionEofEmanagementE-ECORRECTEANSWERE-
thisErequiresEaEmanagerEtoEunderstandEtheEbusiness'EprocessesEandEpoliciesEandEmakeEchangesEtoEensureE
objectivesEareEmet.EItEentailsEeffectiveEcommunicationEbetweenEtheEmanagerEandEemployees.
, OrganizingEfunctionEofEmanagementE-ECORRECTEANSWERE-
thisEfunctionErequiresEtheEmanagerEtoEuseEtheEavailableEresourcesEefficiently.ETheseEresourcesEcanEbeEcapit
al,EhumanEorEnatural
ReasonsEtoEsetEupEaEbusinessE(GETECASH)E-ECORRECTEANSWERE-
Growth,EEarnings,ETransferenceEandEInheritance,EChallenge,EAutonomy,ESecurity,EHobbies
EarningsE(ReasonEtoEsetEupEaEbusiness)E-ECORRECTEANSWERE-
theEpotentialEreturnsEforEsettingEupEyourEownEbusinessEmayEfarEoutweighEtheEcosts,EevenEthoughEtheErisksE
areEhigh
TransferenceEandEInheritanceE(reasonEtoEsetEupEaEbusiness)E-ECORRECTEANSWERE-self-
employedEviewEtheirEbusinessEasEsomethingEthatEtheyEcanEpassEonE(transference)EtoEtheirEchildrenE(inherit
ance).EItEgivesEthemEaEsenseEofEsecurityEthatEmayEnotEbeEpossibleEifEtheyEchoseEtoEworkEforEsomeoneEelse
AutonomyE(reasonEtoEsetEupEaEbusiness)E-ECORRECTEANSWERE-
employeesEfollowEinstructionsEandErulesEsetEbyEtheEorganizationEwhereasEasEanEemployer,EthereEisEautono
myE(independence,EfreedomEofEchoiceEandEflexibility)EinEhowEthingsEoperateEwithinEtheEorganization
missionEstatementE-ECORRECTEANSWERE-
clearEandEconciseEdeclarationEofEanEorganization'sEfundamentalEpurpose
FeaturesEofEmissionEstatementE-ECORRECTEANSWERE-
SymbolizesEorganization'sEphilosophies,EgoalsEandEambitions;EEnablesEtheEorganization'sEstakeholdersEtoEu
nderstandEtheEdesiredElevelEofEperformance;EIncorporatesEmeaningfulEandEmeasurableEcriteria
CashEflowE-ECORRECTEANSWERE-MovementEofEmoneyEinEandEoutEofEorganization
DescribeEtheEimportanceEofEmonitoringEtheEcashEflowEatEAfghanESunE-ECORRECTEANSWERE-
ImportantEtoEavoidEhavingEaElackEofEcash,EwhichEcouldEcauseEliquidityEproblems;EUsefulEtoEhelpEaEfirmEman
ageEitsEexpenditureEandEtimingEofEitsEspending;EUsefulEdecision-makingEtool
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