Materials Management
Question : Select the most appropriate option to fill in the blank.
Many people may not find the rewards _______ with the time and effort required.
Option 1: collude
Option 2: coffer
Option 3: commensurate
Option 4: capable
Correct Answer: commensurate
Solution : The correct choice is the third option.
Explanation: The term commensurate is an adjective that denotes a relationship of correspondence in size, extent, or degree. In the given context, it suggests that the rewards align appropriately with the time and effort invested. It implies a sense of fairness and proportionality, indicating that the outcomes are justifiably balanced considering the input.
So, the correct sentence would be: Many people may not find the rewards commensurate with the time and effort required.
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 leading in ABC Retailers involves:
Option 1: Setting performance standards and measuring actual performance
Option 2: Guiding and motivating employees to achieve organizational goals
Option 3: Monitoring and evaluating employee performance
Option 4: Assigning tasks and responsibilities to employees
Correct Answer: Guiding and motivating employees to achieve organizational goals
Solution : The correct answer is (b) Guiding and motivating employees to achieve organizational goals
Leading is the management function that focuses on inspiring, guiding, and motivating employees to work toward the achievement of the organization's objectives. It involves creating a positive work environment, communicating a clear vision, and supporting and developing employees to help them reach their full potential. Leading specifically focuses on influencing and motivating people within the organization to contribute to its success.
Question : Comprehension:
In the following passage, some words have been deleted. Read the passage carefully and select the most appropriate option to fill in each blank.
The world is undergoing rapid changes in the knowledge landscape. With various dramatic scientific and technological advances, such as the rise of big data, machine learning, and artificial intelligence, many unskilled jobs worldwide may be taken over by machines, while the need for a skilled workforce, particularly involving mathematics, computer science, and data science, in conjunction with multidisciplinary abilities across the sciences, social sciences, and humanities, (1)________ increasingly in greater demand. With climate change, increasing pollution, and depleting natural resources, there will be a sizeable shift in how we (2)_______ the world's energy, water, food, and sanitation needs, again resulting in the need for new skilled labour, particularly in biology, chemistry, physics, agriculture, climate science, and social science. The growing (3)________ of epidemics and pandemics will also (4)_______ collaborative research in infectious disease management and development of vaccines, and the resultant social issues heighten the need for multidisciplinary learning. There will be a growing (5)__________ for humanities and art as India moves towards becoming a developed country as well as among the three largest economies in the world.
Question:
Select the most appropriate option to fill in the blank number 5.
Option 1: command
Option 2: extort
Option 3: demand
Option 4: claim
Correct Answer: demand
Solution : The third option is the correct choice.
The context of the sentence discusses growing something for humanities and art. Demand fits well in this context, indicating an increasing need or desire for the humanities and art.
The meanings of the other options are as follows:
Therefore, the correct answer is demand.
Question : Case Study: ABC Electronics encourages its employees to take the initiative and propose innovative ideas. This reflects the application of which principle of management?
Option 1: Unity of direction
Option 2: Order
Option 3: Initiative
Option 4: Discipline
Correct Answer: Initiative
Solution : The correct answer is (c) Initiative.
Initiative is a fundamental principle of management that encourages employees to take proactive steps and suggest innovative ideas or improvements in their work environment. In this case study, ABC Electronics is encouraging its employees to take the initiative and propose innovative ideas, which aligns with the principle of initiative. Initiative involves encouraging employees to take the first step or be proactive in suggesting improvements, new approaches, or innovative ideas. ABC Electronics is fostering an environment where employees feel empowered to come forward with their ideas, making this an application of the initiative principle.
Question : Which level of management is responsible for making decisions about the day-to-day operations of the organization?
Option 1: Top-level management
Option 2: Middle-level management
Option 3: Lower-level management
Option 4: Operational management
Correct Answer: Operational management
Solution : The correct answer is (d) Operational management
Operational management is responsible for making decisions about the day-to-day operations of the organization. This level of management focuses on the implementation of plans and policies established by higher-level management. Operational managers oversee the operational activities, coordinate tasks, allocate resources, and make decisions that directly impact the daily operations of the organization. They are responsible for ensuring that the organization runs smoothly and efficiently on a day-to-day basis. Therefore, operational management is primarily responsible for making decisions about the day-to-day operations of the organization.
Read the given passage and answer the questions that follow.
Such examples of commercial success, innovation, drive, vision, determination, adaptability, and adventure are anchored in the basic Indian openness to, and talent for, acquiring material wealth. For every success story, there are, of course, dozens of failures. Traditional Indian firms have their strengths, but also their weaknesses, and of these perhaps the most debilitating are a lack of teamwork and a weakness for a quick profit. These reflect ingrained ways of thinking and planning, as does the distrust of anyone outside the family, which inhibits the adoption of modern practices of management. But such weaknesses are more than compensated for by the desire to succeed, which is probably more intense in India, given the omnipresent fear of poverty, the cut-throat competition for each opportunity, and the asphyxiating hold of hierarchy.
Question: What has the Indian talent for acquiring material wealth led to?
Option 1: Commercial success, stagnation, innovation
Option 2: Adaptability, quick profit, opportunity
Option 3: Commercial success, innovation, adaptability
Option 4: Determination, team work, adventure
Correct Answer: Commercial success, innovation, adaptability
The first line of the passage mentioned explicitly some examples such as commercial success, innovation, adaptability, drive, vision, etc. that have led India to acquire material wealth, which makes the third option the appropriate choice for the question.
Question : Case Study 3:
MNO Inc. is a well-known conglomerate that is planning to diversify its business operations by acquiring other companies.
Question :
MNO Inc. is interested in acquiring other companies to diversify its business. Which market activity would be involved in this scenario?
Option 1: Treasury bill trading
Option 2: Commercial paper issuance
Option 3: Mergers and acquisitions
Option 4: Government bond trading
Correct Answer: Mergers and acquisitions
Solution : The correct answer is (c) Mergers and acquisitions
MNO Inc.'s interest in acquiring other companies to diversify its business involves the market activity of mergers and acquisitions (M&A). Mergers and acquisitions refer to the process of combining two or more companies or business entities, typically with the aim of enhancing growth, market share, synergy, or diversification. Mergers and acquisitions play a crucial role in corporate strategy and growth, allowing companies like MNO Inc. to expand into new markets, enter new industries, acquire valuable assets, and achieve strategic objectives.
Select the most appropriate option to fill in the blank number 1.
Option 1: is
Option 2: are
Option 3: will be
Option 4: should be
Correct Answer: will be
The sentence discusses the future demand for a skilled workforce, particularly in fields like mathematics, computer science, and data science. The phrase, in conjunction with multidisciplinary abilities, suggests that these skills will be increasingly in demand in the future. So, will be appropriately convey the future nature of the demand for a skilled workforce in the given context.
Therefore, the complete sentence is: "...across the sciences, social sciences, and humanities, will be increasingly in greater demand."
Question : Select the correctly spelt word.
Option 1: Apositte
Option 2: Apposite
Option 3: Aposire
Option 4: Aposite
Correct Answer: Apposite
Solution : The correct option is the second option.
Explanation: Apposite refers to something that is highly relevant, fitting, or apt for a particular situation or context. It describes the quality of being precisely suitable or appropriate for a given purpose or circumstance. An apposite comment, example, or action is particularly well-suited and directly relevant to the matter at hand.
Therefore, the correct answer is apposite.
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