Materials Management
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.
Question :
What step immediately follows the execution of a trade order?
Option 1: Placing an order
Option 2: Dematerialization
Option 3: Settlement
Option 4: Opening a demat account
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 between the buyer and the seller. This process ensures that the trade is settled in a systematic and secure manner, finalizing the transaction on the stock exchange.
Dear Aspirant!
Hotel management is a field that involves overseeing and coordinating various aspects of hotel operations to ensure a smooth and efficient guest experience. It encompasses a wide range of responsibilities, including front office management, housekeeping, catering, event planning, and overall customer satisfaction.
One crucial aspect of hotel management is maintaining high standards of service to meet guests' expectations. This involves supervising staff to ensure they provide excellent customer service, managing reservations and check-ins, and addressing any issues that may arise during a guest's stay.
Efficient housekeeping management is essential for maintaining cleanliness and order throughout the hotel. This includes overseeing the cleaning staff, managing laundry services, and ensuring rooms are well-maintained and comfortable for guests.
Catering and event management are integral components of hotel management. Professionals in this field plan and coordinate various events, from conferences and weddings to parties and business meetings. This requires a keen understanding of the client's needs, budgeting, and executing the event seamlessly.
Financial management is another crucial aspect of hotel management. This involves budgeting, cost control, and maximizing revenue through effective pricing strategies and marketing initiatives. Successful hotel managers need to balance the financial aspects of the business while ensuring exceptional guest satisfaction.
In essence, hotel management is a multifaceted discipline that requires a combination of organizational skills, interpersonal abilities, and business acumen. It plays a pivotal role in the hospitality industry, contributing to the overall success and reputation of a hotel or hospitality establishment.
Question : Mission education coaching institute is organising a six days workshop for cbse teachers. In order to ensure smooth functioning of the event, mission education has made ms. Aakshi and ms. savia as co-ordinators to take care of activities related to registration and refreshment. Identify the function of management being carried out by mission education.
Option 1: Planning
Option 2: Organising
Option 3: Staffing
Option 4: Directing
Correct Answer: Organising
Solution : Organising can be defined as 'Identifying and grouping different activities in the organisation and bringing together the physical, financial and human resources to establish most productive relations for the achievement of specific goal of organisation. In the above case, In order to ensure smooth functioning of the event, mission education has made ms. Aakshi and ms. savia as co-ordinators to take care of activities related to registration and refreshment. Hence, option 2 is the correct answer.
Question : The following sentence has been split into four segments. Identify the segment that contains a grammatical error.
The boy, as well as / his friends, were / absent from the class / when the teacher came.
Option 1: absent from the class
Option 2: when the teacher came
Option 3: his friends, were
Option 4: The boy, as well as
Correct Answer: his friends, were
Solution : The correct choice is the third option.
The segment that contains a grammatical error is, "his friends were".
The error is the subject-verb agreement. In this case, the subject is "the boy", which is singular. The use of "were" (plural form) after "his friends" is incorrect. The correct verb form to agree with the singular subject "the boy" should be was.
Therefore, the correct sentence is: The boy, as well as his friends, was absent from the class when the teacher came.
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.
Which objective of management focuses on achieving personal goals and aspirations in ABC Retailers?
Option 1: Economic objective
Option 2: Social objective
Option 3: Organizational objective
Option 4: Personal objective
Correct Answer: Personal objective
Solution : The correct answer is (d) Personal objective
Personal objectives in management refer to the individual goals and aspirations of employees or other stakeholders, rather than the goals of the organization as a whole. These personal objectives are typically aligned with the individual's career or personal development and may include aspects such as job satisfaction, career advancement, and personal growth. While personal objectives are important to employees, the primary focus of management within the organization is usually on economic, social, and organizational objectives, which relate to the overall success and sustainability of the company.
Question : Case Study: ABC Retail Corporation aims to improve efficiency by optimizing work methods and eliminating unnecessary actions. Which scientific management technique is appropriate for this purpose?
Option 1: Time study
Option 2: Motion study
Option 3: Method analysis
Option 4: Fatigue study
Correct Answer: Method analysis
Solution : The correct answer is (c) Method analysis.
Method analysis involves analyzing and studying each step of a work process to determine the most efficient and effective way to perform a task. This technique aims to streamline work methods, eliminate unnecessary actions, and find the best sequence of steps to enhance productivity and efficiency.
Question : Case Study: XYZ Retail Company believes in providing clear and precise instructions to its employees to streamline operations. This aligns with which principle of management?
Option 1: Unity of direction
Option 2: Scalar chain
Option 3: Order
Option 4: Unity of command
Correct Answer: Order
Solution : The correct answer is (c) Order
The principle of "Order" in management emphasizes organizing and structuring the workplace to provide clear and precise instructions to employees. It involves arranging resources and activities in a systematic manner to ensure efficiency and effectiveness in operations. XYZ Retail Company's belief in providing clear and precise instructions to its employees aligns with the principle of order, aiming to streamline operations and create a well-organized work environment.
Completing hotel management opens up various career paths in the hospitality industry. Here are some potential careers:
1. Hotel Operations: You can work in various roles within hotels, such as front office manager, housekeeping supervisor, or food and beverage manager, ensuring smooth day-to-day operations.
2. Event Management: Plan and organize events like weddings, conferences, and parties. Event managers coordinate logistics, catering, and overall execution.
3. Catering Services: Manage catering businesses, overseeing food preparation, delivery, and service for events, functions, or special occasions.
4. Travel and Tourism: Work in travel agencies or tour companies, helping clients plan vacations, book accommodations, and organize travel itineraries.
5. Cruise Ship Management: Pursue a career on cruise ships, managing hospitality services for passengers, including accommodations, dining, and entertainment.
6. Restaurant Management: Oversee restaurant operations, including staff management, customer service, and ensuring a positive dining experience.
7. Resort Management: Manage resorts, ensuring the overall guest experience, overseeing amenities, and maintaining high-quality services.
8. Hospitality Consultancy: Provide expertise to businesses in the hospitality sector, offering advice on improving operations, customer service, and profitability.
9. Entrepreneurship: Start your own venture, such as a restaurant, catering business, or boutique hotel, using your hotel management skills to run a successful business.
10. Airline Hospitality: Work in airline hospitality, managing in-flight services, ensuring passenger comfort, and coordinating food and beverage services.
These career options offer a diverse range of opportunities, allowing you to choose a path that aligns with your interests and strengths within the hospitality and service industry.
Question : Read the passage given below and answer the question that follows: Once upon a time, a psychology professor walked around on a stage while teaching stress management principles to an auditorium filled with students. As she raised a glass of water, everyone expected they'd be asked the typical "glass half empty or glass half full" question. Instead, with a smile on her face, the professor asked, "How heavy is this glass of water I'm holding?" Students shouted out answers ranging from eight ounces to a couple of pounds. She replied, "From my perspective, the absolute weight of this glass doesn't matter. It all depends on how long I hold it.
If I hold it for a minute or two, it's fairly light. If I hold it for an hour straight, its weight might make my arm ache a little. If I hold it for a day straight, my arm will likely cramp up and feel completely numb and paralyzed, forcing me to drop the glass to the floor. In each case, the weight of the glass doesn't change, but the longer I hold it, the heavier it feels to me." As the class shook their heads in agreement, she continued, "Your stresses and worries in life are very much like this glass of water. Think about them for a while and nothing happens. Think about them a bit longer and you begin to ache a little. Think about them all day long, and you will feel completely numb and paralyzed incapable of doing anything else until you drop them."
Question. Think about stresses and worries all day long, and you will feel completely _________
Option 1: exotic and paralyzed
Option 2: numb and paralyzed
Option 3: relaxed and fatigued
Option 4: relaxed and excited
Correct Answer: numb and paralyzed
Solution : The correct option is 2 i.e "numb and paralysed." Explanation:
Let's examine the final sentence of the passage: Think about them all day long, and you will feel completely numb and paralyzed incapable of doing anything else until you drop them.
Following a thorough analysis of the aforementioned statement, it can be deduced that worrying about stress all day will leave you feeling completely numb and paralysed. Therefore, the right response is "numb and paralysed."
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