Test On Management 1: PART I. Decide Whether The Following Statements Are TRUE or FALSE

UNIVERSITY OF FINANCE AND MARKETING
FOREIGN LANGUAGE DEPARTMENT
Name: Trng Nguyn Phng Trm

Class: LTDHTA_ Kha 9
TEST ON MANAGEMENT 1
TIME ALLOTED: 60 MINUTES
PART I. Decide whether the following statements are TRUE or FALSE

and provide the reasons.
1. When a sole trader fails, its owners personal assets are protected.
False. Because a sole trader is a person who sets up and runs the company. This person provides all the
capital and has unlimited liability for business debts, even if this means selling personal assets. Therefore,
when a sole trader fails, the person has to sell his/ her assets to pay debts.
2. Strategy is continually adapting to change.
True. Strategy is having a clear plan, then putting it into action. A strategy should be flexible because
when we set up a strategy, we have to think about the competitors, business environment and its
effectiveness. If competitors or business environment change, it means our strategy isnt suitable anymore
and it cant achieve objectives. Therefore as a company your strategy should be continually adapting to
change to reach goals.
3. Leaders were born with leadership skills.
False. I think leaders are born or made, not just when you were born, you have already had leadership
skills. All human beings obviously are born with certain qualities, and certain genetic traits. But I've seen
a lot of people use their basic qualities, re-invent them or practice a lot to become skillful people they
would like to be, so they can adapt any situation in their life. In each situation, they become somebody
else. You know, maybe you werent a monitor in class but when you grew up, you could be the great
business leaders of our time. So I would have to say, mostly it's made, but you have to use what you're
born with.
4. Competition within a team is praised at all times.
False. Competition should be praised in a team but not all times. As you know, competition can be one of
factors pushes people work hard and invents lots of ideas to reach the goals or objectives. Besides, if you
use it all times, members in the team will be exhausted and they always pay much attention to personal
achievement. However, working team is not only personal task but also teams task. In my opinion,
competition within a team is sometimes praised to encourage them work more efficient.
5. A manager creates a vision and gives direction to a business.
False. A leader creates a vision and gives direction to a business, not a manager. Because a leader has lots
of experience, they create a purpose and vision, point their staff in the right direction. However, manager
is a person whose job is to manage part or all the company or other organization.
6. In a private limited company, shares are sold and bought freely on the stock exchange market.
False. Because in a private limited company, shareholders have limited liability so when shares are bought
or sold, they must be agreed by all shareholders.
7. A leader should always be careful in his decision making.
False. In my opinion, carefulness is a good quality that a leader should have but he/ she shouldnt be
always careful in his decision. Opportunities dont wait anybody. If a leader is always careful, he/ she will
spend a lot of time to think about it and maybe will miss the opportunities. Therefore, a leader should
know which decision needs to think carefully and which one should be decisive and do it systematically
and straight away.
8. Team building is the act of gathering people to form a group, each of whom does a different task to
achieve their personal goals.
False. When we work in team, members are treated equally. Besides, they gain not only personal tasks but
also teams achievements. Thats the reason why we make a team.
9. A manager should hold a belief that crises may happen at any time in the future.
True. The world changes every minute and every day, so a manager should be open in excepting crises
maybe will happen at any time in the future.They have to make sure that they realize and understand all
their audiences and groups that may take an interest when a crisis hits. The company should proactive and
quick to recall the products. Or they need to prepare their plans and then test and validate them through
exercises and training.
10. A joint venture is the act of combining two companies into one.
False. A joint venture is the act that when two or more companies agree to work on a project.
PART II. Answer the following questions.

1. List 6 examples of corporate crises.
- Financial crisis, sales decrease, product boycott, business fraud, rumor, workplace violence.
2. What are the advantages of communal offices? Say three.

- faster and easier to help each other.
- supervise what people do better.
- can save time and save cost
3. How can a person handle the differences in a team?

In my opinion, I think you have to believe in the workings and power of the team and recognize where
your own strengths and contribution fit in. You have to be honest, both with yourself and with your team
members.
4. What are the steps for dealing with corporate crises?
During the crisis: - Inform the directors
- Disclose as much information as you can
- Analyze the actions you took to deal with the situation.
- Write down and circulate your crisis management programme
- Find out what happened and how it happened
After the crisis: - Work out an action plan to ensure the crisis does not happen again
- Find out what happened and how it happened
5. List 6 adjectives to describe the quality of a good manager.
- There are creative, decisive, efficient, supportive, organized and responsible.
End of test

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UNIVERSITY OF FINANCE AND MARKETING

FOREIGN LANGUAGE DEPARTMENT

Name: Trng Nguyn Phng Trm

PART I. Decide whether the following statements are TRUE or FALSE

PART II. Answer the following questions.

2. What are the advantages of communal offices? Say three.

- can save time and save cost

3. How can a person handle the differences in a team?

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