The research and development function is necessary for firms to develop new and innovative products to meet customers’ needs or to exceed their expectations. Many firms are also involved with using new technologies such as the use of information and communications technology and the Internet in their
operations.

THE CONCEPTS OF BUSINESS

An entrepreneur is an individual who starts a business and risks losses (in terms of money, time and reputation) for profits. Therefore, profits are the rewards entrepreneurs receive for producing goods and services that consumers want. Stockholders or shareholders own a part of a company through ownership of a company’s stocks or shares. Owners benefit from profits while shareholders receive dividends.

Social security is not one of these conditions. Doğru cevap B’dir.

The contingency approach emphasizes that leadership style and best managerial approach change according to environmental factors. Different contingency theories examine the match between the leadership approach and the environmental composition. Each of the theories attempts to answer “if-then” contingencies.

the disadvantages of external recruiting sources;

• May not select someone who will “fit” the job or organization • May cause morale problems for internal candidates not selected • Longer“adjustment”or orientation time.

Ronen and Shenkar reviewed eight empirical studies that used attitudinal data to cluster countries, and presented a final synthesis of clusters. The countries that were characterized as former British colonies are included in the Anglo cluster. The Anglo Cluster comprises Australia, Canada, England, Ireland, New Zealand, South Africa , and the United States of America.

The correct answer is D. 

A bonus is an individual performance incentive in the form of a special payment made over and above the employee’s salary.

Middle managers are department heads, branch, or plant managers. Middle level management is responsible for overseeing the contribution to the organizational goals and strategies developed by the top management. Middle managers encourage and support their teams for establishing division plans and attain organizational performance at the highest level in compliance with the division or department goals as well as the organization’s ulitimate goals.

National business serves the whole country.

The Managerial Grid intersects two basic leadership behaviors, concern for people and concern for production. It places the leader in one of the five styles. The Managerial Grid composes five managerial or leadership styles through the combination of these two dimensions: Impoverished management – low in both dimensions; Country Club management – high in concern for people and low in concern for production; Team management – high in both concerns; Authority compliance – high in concern for production and low in concern for people; and Middle of the Road management – intermediate in both dimensions.

The leadership style defined here is country club management. The leader upholds the needs and desires of her employees, attributing productivity a secondary position.

The correct answer is B. 

There is not only one and the best way for managing human
resources. Based on size, sector, employee numbers, financial
situation, employee skills and location, each company develops
its own HRM program. 

Major Functional Areas in a Business

In a typical business, there are five major activities or functions. Human Resources or HR, Marketing and Sales, Production, Manufacturing, or Research and Development, and Finance and Accounting areas.

A benefit is an indirect reward given to an employee or a group of employees as a part of organizational membership. The correct answer is A.

One of the most common uses of performance appraisals is for making
administrative decisions relating to promotions, firings, layoffs, and merit pay increases. Orientation is not included in these activities.

The Factors of Production

Businesses focus on five essential elements of the factors of production: labor, natural and physical resources, financial capital, entrepreneurship, and information resources.

Human resource management (HRM) is the process of acquiring, training, appraising, and compensating employees, and of attending to their labor relations, health and safety, and fairness concerns.

A local business operates in a limited geographical area such as a town or a city while a regional business serves a larger area such as the southern or eastern part of a country. A national business operates across the whole country, and an international or multinational business operates in more than one countries.

Therefore, a pizza restaurant with outlets in a certain region of a country constitutes an example of a regional business. 

The correct answer is B. 

Compensations is the total of all rewards provided employees in return for work and services performed. The correct answer is E.