Business Degree Business Education Basic 5

Question 1

What is 'corporate social responsibility' (CSR)?

Accepted Answer

A business's commitment to ethical, social, and environmental practices beyond profit

Answer

CSR refers to a company's voluntary commitment to operate ethically, contribute to economic development, and improve quality of life for employees, communities, and society.

Question 2

What is 'entrepreneurship'?

Accepted Answer

The process of starting and running a new business while bearing its risks

Answer

Entrepreneurship involves identifying opportunities, organizing resources, and accepting the financial and personal risks of starting a new venture.

Question 3

In business communication, what is the purpose of an executive summary?

Accepted Answer

To give decision-makers a concise overview of a longer document

Answer

An executive summary condenses the key points of a longer report so busy executives can quickly grasp the main findings, recommendations, and conclusions.

Question 4

What does 'diversification' mean as a business strategy?

Accepted Answer

Expanding into new markets or products to spread risk

Answer

Diversification involves entering new markets or developing new products to reduce dependency on a single revenue source and spread business risk.

Question 5

What is 'cash flow' in a business context?

Accepted Answer

The movement of money into and out of a business over time

Answer

Cash flow tracks all cash inflows (from operations, investing, financing) and outflows, showing whether a company generates enough cash to meet obligations.

Business Degree Practice Test

Business Degree Practice Test

Business Degree Business Education Basic 5