GEB 2030
Exploring Careers in Business
LATEST MIDTERMS GUIDE
Q&S
©2024/2025
,1. Multiple Choice: Which of the following is considered a
key skill for successful entrepreneurship?
a) Risk avoidance
b) Financial literacy
c) Technical expertise in IT
d) None of the above
Answer: b) Financial literacy
Rationale: Financial literacy is crucial for budgeting,
forecasting, and managing the financial aspects of a
business.
2. Fill-in-the-Blank: __________ is the process of
identifying, assessing, and prioritizing risks in business.
Answer: Risk management
Rationale: Risk management is essential for preparing
and mitigating potential business challenges.
3. True/False: Intrapreneurship refers to the practice of
entrepreneurship within an established company.
Answer: True
Rationale: Intrapreneurship allows employees to act like
entrepreneurs while working within a company, fostering
innovation.
4. Multiple Response: Select all that apply. Which of the
following are common characteristics of effective leaders?
a) Strong communication skills
b) Decision-making abilities
c) Technical skills in all business areas
d) Ability to delegate
Answers: a) Strong communication skills, b) Decision-
making abilities, d) Ability to delegate
©2024/2025
, Rationale: Effective leaders communicate well, make
informed decisions, and delegate tasks to manage teams
efficiently.
5. Multiple Choice: Corporate social responsibility (CSR) is
primarily concerned with:
a) Increasing short-term profits
b) Enhancing shareholder value
c) Improving long-term environmental and social
outcomes
d) Reducing employee benefits
Answer: c) Improving long-term environmental and social
outcomes
Rationale: CSR focuses on creating sustainable business
practices that benefit society and the environment.
6. Fill-in-the-Blank: The term __________ refers to the
analysis of consumer behavior and market trends to identify
business opportunities.
Answer: Market research
Rationale: Market research is vital for understanding
consumer needs and market dynamics to inform business
strategies.
7. True/False: A flat organizational structure typically has
many hierarchical levels.
Answer: False
Rationale: A flat organizational structure has few or no
levels of middle management between staff and executives.
8. Multiple Response: Which of the following factors
influence organizational culture?
a) Company mission
©2024/2025
Exploring Careers in Business
LATEST MIDTERMS GUIDE
Q&S
©2024/2025
,1. Multiple Choice: Which of the following is considered a
key skill for successful entrepreneurship?
a) Risk avoidance
b) Financial literacy
c) Technical expertise in IT
d) None of the above
Answer: b) Financial literacy
Rationale: Financial literacy is crucial for budgeting,
forecasting, and managing the financial aspects of a
business.
2. Fill-in-the-Blank: __________ is the process of
identifying, assessing, and prioritizing risks in business.
Answer: Risk management
Rationale: Risk management is essential for preparing
and mitigating potential business challenges.
3. True/False: Intrapreneurship refers to the practice of
entrepreneurship within an established company.
Answer: True
Rationale: Intrapreneurship allows employees to act like
entrepreneurs while working within a company, fostering
innovation.
4. Multiple Response: Select all that apply. Which of the
following are common characteristics of effective leaders?
a) Strong communication skills
b) Decision-making abilities
c) Technical skills in all business areas
d) Ability to delegate
Answers: a) Strong communication skills, b) Decision-
making abilities, d) Ability to delegate
©2024/2025
, Rationale: Effective leaders communicate well, make
informed decisions, and delegate tasks to manage teams
efficiently.
5. Multiple Choice: Corporate social responsibility (CSR) is
primarily concerned with:
a) Increasing short-term profits
b) Enhancing shareholder value
c) Improving long-term environmental and social
outcomes
d) Reducing employee benefits
Answer: c) Improving long-term environmental and social
outcomes
Rationale: CSR focuses on creating sustainable business
practices that benefit society and the environment.
6. Fill-in-the-Blank: The term __________ refers to the
analysis of consumer behavior and market trends to identify
business opportunities.
Answer: Market research
Rationale: Market research is vital for understanding
consumer needs and market dynamics to inform business
strategies.
7. True/False: A flat organizational structure typically has
many hierarchical levels.
Answer: False
Rationale: A flat organizational structure has few or no
levels of middle management between staff and executives.
8. Multiple Response: Which of the following factors
influence organizational culture?
a) Company mission
©2024/2025
