Materials Management
Question : Instead of fighting for dividing the surplus or profit management and worker should corporate to increase it. Which of the following principles of scientific management is being highlighted in the given statement?
Option 1: Harmony not discord
Option 2: Cooperation not individualism
Option 3: Science note the rule of thumb
Option 4: None of the above
Correct Answer: Cooperation not individualism
Solution : According to this principal there should be corporation between management and workers instead of individualism. Competition should be replaced by cooperation.
Hence,option B is correct.
Question : Read the following statements of Assertion (A) and Reason(R) and choose the correct alternative: Assertion (A):Primary aim of financial management is to maximise shareholder's wealth. Reason (R):Company's funds belong to the shareholders and the return earned by them determine their market value and price.
Option 1: Both A and R correct and R is the correct explanation of A.
Option 2: A is correct and R is wrong.
Option 3: A is wrong and R is correct
Option 4: Both A and R are correct but R is not the correct explanation of A.
Correct Answer: Both A and R correct and R is the correct explanation of A.
Solution : The primary aim of Financial Management is to maximize the wealth of shareholders because companies funds belong to the shareholders and the return earned by them determine their market value and price.
Hence,
Question : Comprehension:
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 are the weaknesses of traditional Indian firms?
Option 1: Ingrained ways of thinking and adoption of modern practices of management
Option 2: A weakness for quick profit and the openness to acquiring wealth
Option 3: A lack of team work and the cut-throat competition
Option 4: A lack of team work and a weakness for quick profit
Correct Answer: A lack of team work and a weakness for quick profit
Solution : The correct choice is the fourth option.
The weakness of traditional Indian firms, as mentioned in the passage, is that there is a lack of teamwork and a weakness for quick profit, which makes the
Question : Case Study 28
GHI Enterprises is an established company that has recently listed its shares on a stock exchange. The company's management is considering different brokers for trading its shares.
Question :
After selecting a broker, what is the immediate next step in the trading process for GHI Enterprises?
Option 1: Placing an order
Option 2: Dematerialization
Option 3: Settlement
Option 4: Opening a demat account
Correct Answer: Placing an order
Solution : The correct answer is (a) Placing an order
Placing an order involves specifying the details of the trade, including the type of security to be bought or sold, the quantity, the desired price, and any other relevant information. The broker then executes this
Question : Case Study 82
XYZ Enterprises is a startup that aims to trade its shares on a stock exchange. The company's management is reviewing the concept of executing an order.
What step immediately follows the execution of a trade order?
Correct Answer: Settlement
Solution : The correct answer is (c) Settlement
The step that immediately follows the execution of a trade order is "settlement." After a trade order is executed and the transaction is completed, the settlement process begins. Settlement involves the actual transfer of ownership of securities and funds
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 organizing in ABC Retailers involves:
Option 1: Guiding and motivating employees
Option 2: Setting performance standards
Option 3: Allocating resources and assigning tasks
Option 4: Monitoring employee performance
Correct Answer: Allocating resources and assigning tasks
Solution : The correct answer is (c) Allocating resources and assigning tasks
Organizing in management is the process of arranging resources (such as human resources, finances, and physical assets) and assigning tasks and responsibilities to achieve the organization's objectives efficiently and effectively. This
Question : Case Study: ABC Educational Institute ABC Educational Institute is a reputed school with a large student population. The management is planning to introduce a new curriculum to meet the changing educational needs.
One of the characteristics of effective planning that ABC Educational Institute should adopt is:
Option 1: Lack of employee involvement
Option 2: Ambiguous objectives
Option 3: Measurable and specific goals
Option 4: Ignoring external opportunities
Correct Answer: Measurable and specific goals
Solution : The correct answer is (c) Measurable and specific goals
Measurable and specific goals are essential characteristics of effective planning for several reasons. Measurable and specific goals provide clarity about what needs to be achieved. This clarity ensures that all stakeholders, including employees,
Question : In group action those who work together should carry out their tasks in harmony that is with mutual give and take and proper understanding. Which of the following principles of scientific management is being highlighted in the given statement?
Option 1: Science not rule of thumb
Option 3: Harmony not discord
Correct Answer: Harmony not discord
Solution : According to this principel there should be complete harmony and proper understanding between management and workers and they should work together for organisational goals. Both(management and workers) should give up their attitude of opposition and enmity towards each other.
Hence, option C is
The primary function of middle-level management in ABC Retailers is to:
Option 1: Develop long-term strategies and policies
Option 2: Oversee the day-to-day operations
Option 3: Coordinate activities within departments
Option 4: Execute plans and policies
Correct Answer: Coordinate activities within departments
Solution : The correct answer is (c) Coordinate activities within departments
Middle-level management plays a key role in coordinating activities within specific departments or units of the organization. They bridge the gap between top management (which focuses on developing long-term strategies and policies) and
Question : Case Study: ABC Pharmaceuticals advocates for unity and a sense of camaraderie among its employees. This commitment aligns with which principle of management?
Option 1: Initiative
Option 2: Discipline
Option 3: Esprit de corps
Option 4: Remuneration of personnel
Correct Answer: Esprit de corps
Solution : The correct answer is (c) Esprit de corps
The principle of "Esprit de corps" emphasizes fostering unity and a sense of camaraderie among employees within an organization. It involves creating a team spirit, promoting teamwork, and encouraging a sense of unity and loyalty
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