Future Business Leaders of America (FBLA) Marketing Practice Test

What term is used for a person responsible for managing a business owned by others?

1. Owner

2. Investor

3. Manager

4. Entrepreneur

The correct answer is: Manager

The term that best fits a person responsible for managing a business owned by others is "manager." A manager oversees the daily operations, makes strategic decisions, and ensures that the business runs effectively and efficiently, often serving as a liaison between the owners and employees. While the owner holds the legal title and benefits from the profits, the manager is primarily focused on the operational side of the business. In contrast, an owner is typically someone who has invested capital into the business and holds equity in it but may not actively participate in day-to-day management. An investor provides funds to the business but also does not manage it directly. An entrepreneur, while often considered a leader and initiator of ideas who starts a new venture, may not be involved in running businesses that they do not own. Therefore, "manager" is the most precise term for someone responsible for managing a business that is owned by others.