quiz regarding h.r, finance, marketing

• QUIZ REGARDING H.R, FINANCE, MARKETING.

• Human Resource Management

• What is management?

• interlocking functions of creating corporate policy and organizing, planning, controlling, and directing an organization's resources in order to achieve the objectives of that policy.

• What is planning?

• It is the process of thinking about and organizing the activities required to achieve a desired goal.

• What is organising?

• ‘identifying and grouping different activities in the organization and bringing together the physical and financial and human resources to establish the most productive relations for the achievement of organizational goals’

• What is staffing?

• The selection and training of individuals for specific job functions, and charging them with the associated responsibilities.

• What is controlling?

• process of ensuring the actual activities confined to planned activity

• What is directing?

• It is said to be a process in which the managers instruct, guide and oversee the performance of the workers to achieve predetermined goals.

• What is H.R?

• HR means providing manpower to the company and motivate them to work for the organisation goals

• What is job design?

• Job design is the allocation of specific work tasks to individuals and groups

• What is job analysis?

• Job analysis may be understood as a process of collecting information about a job.

• What is job description?

• A job description is a list that a person might use for general tasks, or functions, and responsibilities of a position.

• What is meant by job specification?

• A statement of employee characteristics and qualifications required for satisfactory performance of defined duties

• What is Human resource planning?

• It is a process that identifies current and future human resources needs for an organization to achieve its goals

• What is recruitment?

• It is the process that includes analyzing the requirements of a job, attracting employees to that job, screening and selecting applicants, hiring, and integrating the new employee to the organization.

• What is meant by selection?

• The process of interviewing and evaluating candidates for a specific job and selecting an individual for employment based on certain criteria

• What is placement?

• It is assignment or re-assignment of an employee to a new or different job.

• What is meant by Induction?

• It helps employees to undergo each and every phase of environment of Company and an introduction to his team and others.

• What is human resource development?

• It includes training an individual after he/she is first hired, providing opportunities to learn new skills, distributing resources that are beneficial for the employee's tasks, and any other developmental activities.

• What is performance appraisal?

• also called annual reviews, evaluate an employee's skills, achievements and growth, or lack there of.

• What is training?

• Training is the act of increasing the knowledge and skill of an employee for doing a particular job.

• What is internal mobility?

• It is a dynamic internal process for moving talent from role to role – at the leadership, professional and operational levels.

• What is absenteeism?

• Absenteeism means being absent from work. Employees may take a leave or not report to work for a variety of reasons.

• What is remuneration?

• Reward for employment in the form of pay, salary, or wage, including allowances, benefits.

• What are fringe benefits?

• Fringe benefits are forms of compensation you provide to employees outside of a stated wage or salary

• What is meant by empowerment?

• A management practice of sharing information, rewards, and power with employees

• What is motivation?

• It is the inner drive that directs a person's behaviour toward goals

• What is meant by Leadership?

• Leadership is the process through which leaders exert such influence on other group of members.

• What is communication?

• Transforming of data by using verbal or non verbal actions.

• Mention any two leadership styles?

• Autocratic• Democratic• Liassez-faire

• What is grapevine?

• It is an informal channel of business communication.

• What is grievance?

• It is defined as a dispute between the employee and the employer

• What is trade union?

• It is an organisation made up of members, with its membership made up of employees and workers

• What is industrial conflict?

• It refers to differences that affect groups of workmen and employers engaged in an industry.

• What is collective bargaining?

• It is a source of solving the problems of employees in the work situation collectively

• What is retention?

• Employee Retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project.

• What is meant by HR Matrics?

• They are standards of measurement by which HR performance is assessed.

• What is competency mapping?

• It is a process to identify key competencies for an organization or a job and incorporating those competencies throughout the various processes

• What is HR Balanced Scorecard?

• It is a strategic planning and management system which takes into account non-financial aspects of corporate performance

• What is meant by dual career group?

• It can be defined as a marital couple where both partners are working professionals.

• What is Knowledge management regarding HR?

• It is the systematic approach to getting an organization to make the best possible use of intellectual capital

• What is right sizing?

• The process of a corporation reorganizing or restructuring their business

• What is emotional intelligence?

• It is the ability to evaluate, analyse, control manage the emotions of yourself and others

• What is talent management?

• It means managing the ability, competency and power of employees within an organization.

• What is work life management?

• It is defined as a means of flexible working or flexible leave available to employees.

• What is whistle blowing policy?

• It is defined as a policy in which an employee of who reports an activity that he/she considers to be illegal or dishonest to one or more of the parties specified in this Policy

• What is employee turnover?

• It is a measurement of how long your employees stay with your company and how often you have to replace them

• What is organisational communication?

• It is the process by which activities of a society are collected and coordinated to reach the goals of both individuals and the collective group.

• What is group discussion?

• It is a group of individuals with similar interest who gather either formally or informally to bring up ideas, solve problems or give comments

• What is a organisational change?

• Company or organization going through a transformation.

• What is interpersonal communication?

• It is an exchange of information between two or more people

• What is meant by interview?

• A somewhat formal discussion between a hirer and an applicant or candidate, typically in person, in which information is exchanged, with the intention of establishing the applicant’s suitability for a position.

• What is panel interview?

• A type of screening meeting for job applicants involving the participation of a group of two or more people from the hiring company

• What is meant by Ohio?

• Jobs

• What is underemployment?

• A situation in which a worker is employed, but not in the desired capacity, whether in terms of compensation, hours, or level of skill and experience. While not technically unemployed, the underemployed are often competing for available jobs.

• What is contingency approach?

• The contingency approach to management holds that management techniques should be dependent upon the circumstances.

• What is meant by centralisation?

• The concentration of management and decision-making power at the top of an organization's hierarchy.

• What is meant by conference?

• A formal meeting of people with a shared interest, typically one that takes place over several days.

• What is Abandonment Rate?

• A measurement of the number of job applicants that start but do not finish completing a job application on a company’s ATS (applicant tracking system).

• What is meant by Pre-employment Screening?

• Testing to ensure that employers are hiring qualified and honest employees and that a prospective employee is capable of performing the functions required by the job.

• What is a benifit?

• Benefit is a form of compensation paid by employers to employees over and above the amount of pay specified as a base salary or hourly rate of pay.

• What is Career Pathing?

• The process whereby an employee charts a course within an organization for his or her career path, growth and development.

• Finance

• What is accounting?

• It is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting and communicating financial information

• What is a Balance Sheet?

• A quantitative summary of a company's financial condition at a specific point in time, including assets, liabilities and net worth

• What is an Asset?

• Any item of economic value owned by an individual or corporation, especially that which could be converted to cash

• What is a Liability?

• An obligation that legally binds a company to settle a debt. When one is liable for a debt, they are responsible for paying the debt

• What is Shareholders' Equity?

• An ownership interest in a corporation in the form of common stock or preferred stock.

• What is Income Statement?

• An accounting of sales, expenses, and net profit for a given period. an income statement depicts what happened over a month, quarter, or year.

• What is Revenue?

• The total amount of money received by the company for goods sold or services provided during a certain time period

• What is an Expense?

• Any cost of doing business resulting from revenue-generating activities.

• What is a Cash Flow Statement?

• A summary of the actual or anticipated incomings and outgoings of cash in a firm over an accounting period (month, quarter, year).

• What is Audit?

• A physical check performed by an auditor or tax official on a business' financial records to check that everything is accounted for correctly

• What is a Bad debts?

• Money owed to you that is unlikely to be paid to you in the foreseeable future.

• What is Bank reconciliation?

• A cross-check that ensures the amounts recorded in the cashbook match the relevant bank statements.

• What is Benchmarking?

• The process of comparing your business to similar businesses in your industry.

• What is Break-even point?

• The exact point when a business' income equals a business' expenses.

• What is Capital cost?

• A one-off substantial purchase of physical items such as plant, equipment, building or land

• What is Cash?

• It includes all money that is available on demand including bank notes and coins, petty cash, certain cheques, and money in savings or debit accounts.

• What is Cash book?

• A daily record of all cash, credit or cheque transactions received or paid out by a business

• What is Cost of goods sold?

• The total direct costs of producing a good or delivering a service

• What is crowd funding?

• It is a way of financing your business idea through donations of money from the public. This is usually done online, through a crowd funding website

• What is Debit?

• In double-entry bookkeeping a debit is an entry made on the left hand side of a journal or ledger representing an asset or expense.

• What is Equity?

• The value of ownership interest in the business, calculated by deducting liabilities from assets. See also owner's equity

• What is Excise duty?

• An indirect tax levied on certain types of goods produced or manufactured in Australia including petrol, alcohol, tobacco and coal

• What is Finance?

• The money used to fund a business or high value purchase

• What is Fixed interest rate?

• When the interest rate of a loan remains the same for the term of the loan or an agreed timeframe.

• What is Goodwill?

• An intangible asset that represents the value of a business' reputation.

• What is Gross income?

• The total money earned by a business before expenses are deducted

• What is Gross profit?

• The difference between sales and the direct cost of making the sales

• What is Insolvent?

• A business or company is insolvent when they cannot pay their debts as and when they fall due

• What is Interest?

• The cost of borrowing money on a loan or earned on an interest-bearing account.

• What is Inventory?

• An itemised list of goods or materials a business is holding for sale

• What is Investment?

• An asset purchased for the purpose of earning money such as shares or property.

• What is Invoice?

• a document provided to a customer to request payment for a good/service received. See our Payments and invoicing topic

• What is Liquidate?

• To quickly sell all the assets of a company quickly and convert them into cash.

• What is Loan?

• A finance agreement where a business borrows money from a lender and pays it back in instalments (plus interest) within a specified period of time

• What is Margin?

• The difference between the selling price of a good or service and the profit

• What is Maturity date?

• When a loan's term ends and all outstanding principal and interest payments are due.

• What is Net income?

• The total money earned by a business after tax and other deductions are taken out

• What is Overdraft facility?

• A finance arrangement where a lender allows a business to withdraw more than the balance of an account.

• What is Overheads?

• The fixed costs associated with operating a business such as rent, marketing, utilities and administrative costs

• What is Petty cash?

• Cash for the purposes of small miscellaneous purchases such as postage.

• What is Profit?

• The total revenue a business earns minus the total expenses.

• What is receipt?

• A document provided to a customer to confirm payment and to confirm a good/service has been received.

• What is record keeping?

• The process of keeping or recording information that explain certain business transactions. Record keeping is a requirement under tax law

• What is Return on investment?

• A calculation that works out how efficient a business is at generating profit from the original equity provided by the owners/shareholders

• What is Revenue?

• The amount earned before expenses, tax and other deductions are taken out

• What is Scam?

• A deliberate and targeted deception designed to obtain money or information unlawfully

• What is Stock?

• The actual goods or materials a business currently has on hand.

• What is Tax invoice?

• An invoice required for the supply of goods or services over a certain price.

• What is Variable interest rate?

• When the interest rate of a loan changes with market conditions for the duration of the loan.

• What is Variable cost ?

• A cost that changes depending on the number of goods produced or the demand for the products/service.

• What is Venture Capital?

• Capital invested in a start-up business that is thought to have excellent growth prospects but does not have access to capital markets because it is a private company.

• What is Working capital?

• The cash available to a business for day to day expenses.

• What is Superannuation?

• Money set aside for retirement, that must be paid into a complying superannuation fund.

• What is Plant and equipment?

• A group of fixed assets used in the operation of a business such as furniture, machinery, fit-out, vehicles, computers and tools.

• Present finance minister of NAVYA ANDHRA is

• Yanamala Rama Krishnudu

• Present finance minister of Telangana is

• Etela Rajendra

• Present finance minister of Tamil Nadu

• Thiru O.Panneerselvam

• Present finance minister of Karnataka

• Siddaramaiah

• Present finance minister of Jammu and Kashmir

• Haseeb Drabu

• Present finance minister of India

• Arun Jaitley

• Marketing

• What is Marketing?

• The management process through which goods and services move from concept to the customer

• What is marketing mix?

• The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market

• What is segmentation?

• The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics

• What is positioning?

• A marketing strategy that aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer

• What is advertising?

• The activity or profession of producing information for promoting the sale of commercial products or services.

• What is personal selling?

• Face-to-face selling in which a seller attempts to persuade a buyer to make a purchase.

• PLC stands for:

• Product Life Cycle

• What is rural marketing?

• Rural marketing is a process of developing, pricing, promoting, and distributing rural specific goods and services leading to desired exchange with rural customers to satisfy their needs and wants, and also to achieve organizational objectives.

• What is audience Tracking?

• Media market research technique to monitor and learn how customers access and use media

• What is Below Competition Pricing?

• A competitive pricing method in which initial price is set at levels intended to be below competitors’ prices.

• What is Bid pricing?

• A process for setting the initial price for a product, mainly found in government and business markets where multiple sellers compete for a large purchase.

• What is Brainstorming?

• A group discussion market research technique that encourages creative thinking and group interaction to help stimulate idea generation.

• What is Brand Licensing?

• Contractual arrangement whereby a marketer owning a brand name negotiates with other companies to allow these companies to produce and supply products carrying the marketer's brand name.

• What is meant by Brand Loyal (also Brand Loyalty)?

• Description given to customers who frequently and enthusiastically purchase a particular brand and are less likely to be enticed to switch to other brands compared to non-loyal customers.

• What is Brand Mark?

• Represents a branding decision in which a design element, such as a symbol, logo, character or sound, is used to provide visual or auditory recognition for a product.

• What is Brand Name?

• It represents a branding decision in which an individual product is named or a name is applied to a group or family of products.

• What is Branding?

• Branding involves marketing decisions that have the objective of establishing an identity for a product using brand names, symbols

• What is Breakeven Analysis?

• A forecasting tool used by marketers that considers product price, fixed cost and variable costs in order to determine the minimum sales volume required before a company realizes a profit.

• What is Bundle Pricing?

• A form of promotional price adjustment that offers discounted pricing when customers purchase several products at the same time

• What is Cash-and-Carry process?

• Wholesale format represented by distributors that require buyers visit the wholesaler’s facility, physically select their order, pay in cash, and then handle their own delivery

• What is Channel Conflict?

• Refers to disagreements that arise within a channel when a channel member’s decisions affect (often negatively) the business operations of other members.

• What is Cold Call?

• A method for contacting sales prospects where a salesperson makes an unannounced first contact with the prospect with the intention of either scheduling a future appointment or giving a sales presentation during this first contact period.

• What is Consumable Product?

• The main good, service or idea the customer is buying when a purchase is made

• What is Contest?

• A form of sales promotion, mainly used in the consumer market, that awards something of value to winners based on skills they demonstrate compared to other consumers.

• What are Coupons?

• A form of sales promotion, mainly used in the consumer market and primarily offered in either in print or electronic form, that provides price savings or other incentives when presented at the time of purchase

• Who is a Customer?

• A person or organization that a marketer believes will benefit from the products offered by the marketer’s organization and includes Existing Customers, Former Customers and Potential Customers.

• What are Demographics?

• Concerns statistics that describe a population such as age, education level, income, etc., and in marketing is used as a market segmentation variable.

• What is the Development Stage of PLC?

• Stage within the Product Life Cycle which occurs before a product is introduced to the market and is principally a time for honing the product offering and preparing the market for the product.

• What is Direct Marketing Systems?

• A direct distribution system where customers place orders either through information gained from non-personal contact with the marketer or through personal communication with a company representative who is not a salesperson

• What is Dynamic Pricing?

• A form of promotional price adjustment where adjustments take place at the point-of-sale for customers meeting certain criteria established by the seller

• Who are e-tailers?

• Retail format represented by retailers that confine most of their selling through Internet websites thus providing customers with the convenience of anytime shopping.

• What are Emergency Products?

• A category of consumer products which customer purchase due to sudden events and which often involve little pre-purchase planning.

• Who is an Existing Customer?

• Those who have purchased or otherwise used an organization’s goods or services, typically within a designated period of time

• What is Family Branding?

• A branding strategy in which products are given brand names that are closely connected or share the same overall name as an existing brand.

• What is a Franchise?

• Retail format represented by a contractual arrangement in which franchisees agree to pay for the right to use a franchisor’s business methods and other business aspects such as the franchise name.

• What are Functional Benefits?

• Benefits customers receive that are directly associated with the materials, design and production decisions of the consumable product such as ease-of-use, increased speed and cost savings.

• What is Generic Branding ?

• A branding strategy, common to commodity products, that essentially creates a brandless product offering basic product features and low price.

• What are Goods?

• In marketing this represents a type of product that consists of tangible items (i.e., can be felt, tasted, heard, smelled or seen) that marketers offer to satisfy the needs of their customers.

• What is Guarantee?

• Assurance offered by a marketer that the product will perform up to expectations or the marketer will support the customer’s decision to replace, have the product repaired or accept a return for a refund

• What is Growth Stage of PLC?

• Stage within the Product Life Cycle which occurs when a product is widely accepted and often reaches rapid growth characterized by a large percentage sales increase over previous periods

• What is Industrial Distributor?

• Wholesale format represented by distributors, carrying either broad or narrow product lines, that primarily distribute to business customers rather than selling to other resellers

• What is Innovation?

• Anything new that offers solutions to needs by providing a significant advantage over existing products, services or methods.

• What is a Kiosk?

• A customer contact point consisting of standalone, interactive computers offering customers the ability to handle their own service options including gaining product information, making purchases, and reviewing customer account details.

• What is Loyalty Programs?

• A form of sales promotion, used in both consumer and business markets, that offers customers rewards, such as price discounts and free products, based on purchase frequency or other activity.

• What is Market Segment?

• A smaller part of a larger market consisting of customers grouped (i.e., segmented) by characteristic shared by others in their group.

• Who are Mass Discounters?

• Retail format represented by general or specialty merchandisers whose main strategy is to offer discount pricing and whose outlets offer few services and generally lower quality product than is available at higher-end retailers.

• What is Micro-Marketing?

• A target marketing strategy that attempts to appeal to specific targeted customers with individualized marketing programs.

• What is Motivation (in marketing prospective)?

• A component of the internal influences on consumer buying behaviour that represents the strength of a persons desire to achieve a certain outcome.

• What is Niche Marketing?

• A target marketing strategy that uses a single marketing strategy to appeal to one or more small sub-segments within a larger market segment.

• Who are Non-Store Retailers?

• Retailers selling to customers through means other than a physical outlet including online, direct marketing and vending

• What is Odd-Even Pricing?

• A type of psychological pricing where price is set based on customers’ perception of a significant difference in cost between products priced at a whole number value and products priced slightly below this whole number.

• What is Parity Pricing?

• A competitive pricing method in which initial price is set at levels that are the same as competitors’ prices.

• What is Perception (in marketing prospective)?

• The internal processing of stimuli (e.g., advertisements) that shapes how a person sees themselves and the world they live in.

• Who are Peripheral Stakeholders?

• Represent groups, such religious organizations, community activists, and cause supporters, that are part of a marketing organization’s external forces but that may not routinely impact the marketer unless specific issues arise.

• What is Pricing?

• Key component of the marketer’s toolkit that represents decisions on the methods and strategies needed to determine what a customer will give up in exchange for obtaining value from a marketer’s product.

• What is Private Warehouse?

• A type of warehouse owned and operated by channel suppliers or resellers and used as part of their distribution activities.

• What is Promotion?

• Key component of the marketer’s toolkit that represents decisions on the methods (e.g., advertising, personal selling, public relations) and strategies needed to communicate with a target market.

• What is Psychological Pricing?

• A market pricing method that used to set a product’s initial price by considering customers’ perceived response to a price and includes Odd-Even Pricing and Prestige Pricing.

• What is Reference Group?

• Found within the Group Membership component of the external influences on consumer buying behaviour, this concept represents people and organizations which a person simultaneously associates or, in some cases, feels the need to disassociate

• Who is a Retailer?

• A business classification that includes resellers who, in general, obtain products from suppliers in order to sell to the final consumer.