Management
Question : Assertion: Lower-level management has limited decision-making authority.
Reason: They implement the decisions made by top management and follow specific guidelines.
Option 1: Both assertion and reason are correct, and the reason explains the assertion.
Option 2: Both assertion and reason are incorrect.
Option 3: The assertion is correct, but the reason is incorrect.
Option 4: The assertion is incorrect, but the reason is correct.
Option 5: Both assertion and reason are correct, and the reason is not the correct explanation of the assertion.
Correct Answer: Both assertion and reason are correct, and the reason explains the assertion.
Solution : The correct answer is (a) Both assertion and reason are correct, and the reason explains the assertion.
The assertion is correct because lower-level management typically has limited decision-making authority compared to top management. They
Question : Sentences of a paragraph are given below in jumbled order. Arrange the sentences in the correct order to form a meaningful and coherent paragraph. A. The promotion of congenial relationship at all levels of the staff leads to prosperity of the organisation. B. Better skills increase the working capacity of employees by promoting better work habits. C. This includes multiplication of knowledge and development of their skills. D. Efficient management aims at qualitative improvement of its employees.
Option 1: DABC
Option 2: DCAB
Option 3: DCBA
Option 4: DBAC
Correct Answer: DCBA
Solution : The correct choice is the third option.
The paragraph starts with sentence D, which sets the focus on the management's goal of improving employee quality, followed by sentence C, which explains what is encompassed in the process of improving employee quality, followed
Question : Select the appropriate antonym for the underlined word.
Our children need vital lessons in wealth management.
Option 1: clever
Option 2: superfluous
Option 3: organic
Option 4: healthy
Correct Answer: superfluous
Solution : The correct choice is the second option.
Explanation:
Vital means essential or crucial, indicating the utmost importance of something. Superfluous means unnecessary or exceeding what is sufficient or required, making it the suitable antonym in this context.
The meanings of the other options are as
Question : Which of the following is known for the coinage of the term Scientific Management?
Option 1: Fredrick Winslow Taylor
Option 2: Fredrick Winster Taylor
Option 3: Fredrick Winshell Taylor
Option 4: None of the above
Correct Answer: Fredrick Winslow Taylor
Solution : Fredrick Winslow Taylor is known for the coinage of the term scientific management in his article the principles of scientific management published in 1911.
Hence, Option A is correct.
Question : Case Study: XYZ Manufacturing Company
XYZ Manufacturing Company is a well-established firm that produces consumer electronics. The management is planning to launch a new line of smart home appliances. Question: The type of plan that XYZ Manufacturing Company should develop to introduce the new line of smart home appliances is:
Option 1: Tactical plan
Option 2: Strategic plan
Option 3: Contingency plan
Option 4: Operational plan
Correct Answer: Strategic plan
Solution : The correct answer is (b). Strategic plan
A strategic plan outlines the long-term goals and objectives of the company. For XYZ Manufacturing, this would involve defining the vision for the new smart home appliances, understanding the market, identifying target customers, and positioning the products
Question : What does a low Working Capital Turnover Ratio indicate?
Option 1: Indication of inefficiency of working capital management.
Option 2: Indication of efficiency of working capital management
Option 3: Proper mutilation of resources
Correct Answer: Indication of inefficiency of working capital management.
Solution : Answer = Indication of inefficiency of working capital management.
A low Working Capital Turnover Ratio indicates inefficiency in working capital management. It suggests that the company is not effectively utilizing its working capital to support sales, potentially leading to
Question : What function of management involves monitoring organisation performance towards the attainment of organisational goals?
Option 1: Directing
Option 2: Staffing
Option 3: Controlling
Option 4: Planning
Correct Answer: Controlling
Solution : The task of controlling involves establishment standards of performance measuring current performance comparing this with established standard and taking corrective action where any deviation is found.
Hence, Option C is correct.
Question : The management principles are flexible to adapt to dynamic business environment. The given statement shows which significance of principles of management?
Option 1: Scientific decisions
Option 2: Effective administration
Option 3: Optimum utilisation of resources
Option 4: Meeting changing environment requirements
Correct Answer: Meeting changing environment requirements
Solution : The principles are in the nature of general guidelines but they are modified and as such help managers to meet changing requirements of the environment.
Hence, Option D is correct.
Question : Which objective of management focuses on achieving the goals and objectives of the organization?
Option 1: Economic objective
Option 2: social objective
Option 3: Organizational objective
Option 4: Personal objective
Correct Answer: Organizational objective
Solution : The correct answer is (c) Organizational objective
The organizational objective of management is centered around accomplishing the goals and objectives of the organization as a whole. This objective encompasses aligning the efforts of the entire organization toward achieving desired outcomes, such as increased profitability,
Question : Which of the following statement is correct?
Option 1: Management as science involves universal validity.
Option 2: Practice and creativity is management as science.
Option 3: Service motive is management as profession.
Option 4: Restricted entry is management as a profession.
Correct Answer: Practice and creativity is management as science.
Solution : Practice and creativity is management as an art. Rest all are correct. Hence Option B is correct.
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