Study guides, Class notes & Summaries

VCE BUSINESS MANAGEMENT Written examination QUESTION AND ANSWER BOOK

2023 VCE BUSINESS MANAGEMENT Written examination QUESTION AND ANSWER BOOK

VCE Business Management Practice Sac with Answers

Communicating The two way process of sending and receiving information Delegating The process of handling over tasks and responsibilities to subordinates Leading Involves the skill of the manager to influence others to do their best to achieve Planning Refers to defining objectives and determining strategies to achieve those objectives Decision Making The ability to choose the best course of action from a range of options Interpersonal skills Refer to the ability to communicate, inter...

Sole trader A sole trader is a business that is run and owned by one person. The sole owner provides all financing and is responsible for decision making. What are the advantages of being a sole trader? Owner keeps all profits: All profits are kept and the owner doesn't have to share with partners Low cost of entry: It doesn't cost much, so a sole trade can operate right away e.g don't have to register Complete control of the business: owner has full control, is able to make decision...

Communicating Correct Answer The two way process of sending and receiving information Delegating Correct Answer The process of handling over tasks and responsibilities to subordinates Leading Correct Answer Involves the skill of the manager to influence others to do their best to achieve Planning Correct Answer Refers to defining objectives and determining strategies to achieve those objectives Decision Making Correct Answer The ability to choose the best course of action from a rang...

with correct answers Communicating - Answer The two way process of sending and receiving information Delegating - Answer The process of handling over tasks and responsibilities to subordinates Leading - Answer Involves the skill of the manager to influence others to do their best to achieve Planning - Answer Refers to defining objectives and determining strategies to achieve those objectives Decision Making - Answer The ability to choose the best course of action from a ra...

Change - ANSWER-the process of taking the existing organisation, altering it and creating a new form. Leader - ANSWER-important people who can help drive change and motivate employees Training - ANSWER-The process of teaching employees the skills and knowledge necessary to perform a job. Motivation - ANSWER-A need or desire that energizes and directs behavior of the employees Management styles - ANSWER-The way managers work with their staff, including the direction of communication a...