Management
Question : Taking the first step with self motivation is one of the traits of an intelligent person. Which of the following principles of management does the given statement indicate?
Option 1: Discipline
Option 2: Division of work
Option 3: Initiative
Option 4: Order
Correct Answer: Initiative
Solution : Initiative is a powerful motivator of human behaviour and a source of strength for the organisation. It Motivate employees to work better and they take more interest in the organisation.
Hence,option C is correct.
Question : The principles of management are mainly behavioural in nature.The given statement tell us about which nature of the principles of management?
Option 1: Mainly behavioural
Option 2: Contingent
Option 3: General guidelines
Option 4: Flexible
Correct Answer: Mainly behavioural
Solution : Management principles AIMS at influencing behaviour of human beings there for principles of management are mainly behavioural in nature.
Hence, Option A is correct.
Question : Anglo India Ltd. has an Operating Profit Ratio of 10%. To maintain this ratio at 15%, management may ____________.
Option 1: Increase selling price of Stock in-trade.
Option 2: Reduce Cost of Revenue from Operations.
Option 3: Increase selling price of Stock-in-Trade and to reduce Cost of Revenue from Operations.
Option 4: None of the above
Correct Answer: None of the above
Solution : Answer = All of the above If S.P. increases, the cost of Revenue from operations Reduces, firm's Net profit will improve. So, in all cases, ROI would increase. Hence, the correct option is 4.
Question : The directing function of management is primarily concerned with:
Option 1: Setting organizational goals
Option 2: Allocating resources
Option 3: Guiding and supervising employees
Option 4: Evaluating performance
Correct Answer: Guiding and supervising employees
Solution : The correct answer is (c) Guiding and supervising employees.
The directing function of management is primarily concerned with guiding and supervising employees. It involves providing clear instructions, guidance, and support to employees to ensure that they understand their roles, responsibilities, and tasks.
Question : Pune-based Zomato Ltd. is a maker of electronics products. It deals in both laptops and mobile phones in addition to products like books, musical instruments, videotapes, etc. The business was organised functionally, with separate divisions for production, marketing, and finance. The products were being looked after by all the functional heads, while occasionally their tasks crossed over. Conflicts between departments and issues with cooperation resulted from this. Rahul, the CEO of the company, chose to categorise computers and mobile phones under "consumer electronics" and books, musical instruments, videotapes, and other items under "Media" to facilitate specialisation. Rahul has completed a task related to one of the management functions in the process. Determine the action.
Option 1: Identification and division of work
Option 2: Departmentalisation
Option 3: Assignment of duties
Option 4: Establishing authority and reporting relationships
Correct Answer: Departmentalisation
Solution : Grouping similar and related jobs into larger units called departments, divisions or sections and placing them under a department head. It facilitates specialization. – The departments are linked together and are interdependent. Hence, the correct option is 2.
Question : Assertion: Fayol's principles of management form a guideline for managerial decision-making.
Reason: They provide a framework for effective management practices.
Option 1: Both assertions and reasons are correct, and the reason is the correct explanation of the assertion.
Option 2: Both are correct, but the reason is not the correct explanation.
Option 3: The assertion is correct, the reason is incorrect.
Option 4: The assertion is incorrect, the reason is correct.
Correct Answer: Both assertions and reasons are correct, and the reason is the correct explanation of the assertion.
Solution : The correct answer is (a) Both assertions and reasons are correct, and the reason is the correct explanation of the assertion.
The assertion that Fayol's principles of management form a
Question : In the following passage, some words have been deleted. Select the most appropriate option to fill in each blank.
(1)_______ changes in science and technology lead to modernisation of technology as well as upgradation of knowledge. In order to upgrade or modernise technology, management must (2)_______ employees to accept new technology. (3)________ training of staff becomes necessary to update their knowledge and to (4) _____their skills. This is possible only (5)______ effective communication between the management and the employees.
Question: Select the most appropriate option for blank 1.
Option 1: No
Option 2: Ultimate
Option 3: Slow
Option 4: Rapid
Correct Answer: Rapid
Solution : The correct answer is option 4.
The correct response is 'Rapid.' Explanation:-
-Let us investigate the significance of the given options. -
- No- not at all; not at all.
- Ultimate - the best that can be achieved or imagined of its kind.
-
Question : Case Study: ABC Retailers
ABC Retailers is a chain of stores specializing in fashion apparel. They have a hierarchical management structure with top management, middle-level management, and lower-level management. The company aims to provide a wide range of trendy clothing options and outstanding customer service.
The management function of planning in ABC Retailers involves:
Option 1: Allocating resources to different departments
Option 2: Guiding and motivating employees
Option 3: Setting organizational goals and strategies
Option 4: Monitoring employee performance
Correct Answer: Setting organizational goals and strategies
Solution : The correct answer is (c) Setting organizational goals and strategies
Planning involves defining the organization's goals and objectives, and determining the strategies and actions necessary to achieve them. In the context of a retail business like ABC Retailers, this would include
Question : Case Study 78
GHI Ltd. is a conglomerate that has recently traded its shares on a stock exchange. The company's management is reviewing the process of placing an order.
Question :
When an investor places an order to buy shares at a specific price, what type of order is this?
Option 1: Market order
Option 2: Limit order
Option 3: Stop order
Option 4: Day order
Correct Answer: Limit order
Solution : The correct answer is (b) Limit order
When an investor places an order to buy shares at a specific price, it is called a "limit order." In a limit order, the investor specifies the maximum price they are willing to pay for a buy
Question : Case Study:
ABC Manufacturing has implemented scientific management principles to improve productivity. Employees are encouraged to work together towards common goals. Which principle of scientific management is exemplified here?
Option 1: Harmony, not discord
Option 2: Cooperation, not individualism
Option 3: Development of each person to their greatest efficiency
Option 4: Science, not the rule of thumb
Correct Answer: Cooperation, not individualism
Solution : The correct answer is (b) Cooperation, not individualism
Cooperation, not individualism principle underscores the importance of fostering cooperation and collaboration among employees rather than relying solely on individual efforts. It aligns with the scenario where employees are encouraged to work together towards common
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