Celebration Of Knowledge #6

Wow. The last Celebration of Knowledge. Great work. I hope you got as much out of this series as I did in writing it. It’s been fun. You should be proud that you made it this far. It was great that you stuck with this whole series. My hope is that you now have a better grasp on what business is all about. So, the next time you have to deal with a business issue, relax, you now have the fundamentals down. The rest is just practice! Now, lets see what you know.


1. What is a managers biggest challenge?

A. Managing employees

B. Balancing budgets

C. Taking enough coffee breaks

D. Whipping up presentations

2. What is the most important management skill?

A. Being organized

B. Having a high threshold for pain

C. Talking to customers

D. Empathy

3. When doing business in a foreign country, what’s an important thing to have?

A. A knowledge of a couple of phrases in the local language

B. A bank account in that country

C. A local employee that knows the culture

D. A taste for the local food

4. When doing an international negotiation, which technique should you apply?

A. Do all the talking

B. Understand the timeline

C. Remain inflexible

D. Focus on short term relationships

5. Which of the following is not a stage in an organization?

A. Start-Up

B. Expansion

C. Maturity

D. Construction

6. Which is a sign that you need to change your organizational structure?

A. Systems and procedures are constantly breaking down

B. Morale is high

C. Your business units are getting along

D. Tons of new products are being released.

7. What is the term used for items that are always in a contract?

A. The law firms name

B. Definitions

C. Boilerplate

D. Links to other agreements

8. When being sued, what should you not do?

A. Keep a Notebook

B. Remain calm

C. Write down everything you know:

D. Call your adversary right away


  1. A

  2. D

  3. C

  4. B

  5. D

  6. A

  7. C

  8. D

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