Materials 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 : 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 : 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 : 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 setting goals related to providing a wide range of trendy clothing options and outstanding customer service, and then creating strategies to realize those goals.
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 goals, optimizing overall productivity. In summary, ABC Manufacturing encouraging employees to work together towards common goals aligns with the principle of "cooperation, not individualism," which promotes collaboration and collective efforts to optimize productivity and achieve organizational objectives.
Which level of management in ABC Retailers is responsible for formulating long-term strategic plans for the organization?
Option 1: Top management
Option 2: Middle-level management
Option 3: Lower-level management
Option 4: -
Correct Answer: Top management
Solution : The correct answer is (a) Top management
Top management, also known as senior management or executive management, is responsible for making strategic decisions, setting organizational goals, and formulating long-term plans and policies that guide the overall direction of the entire organization. Developing long-term strategic plans is a primary function of top management. Lower-level management focuses on more operational and day-to-day activities, while middle-level management is often involved in translating top-level strategies into specific departmental or unit plans.
Question : Case Study: ABC Pharmaceuticals adopts scientific management techniques to streamline its production process. Which technique involves analyzing and simplifying work processes to improve efficiency?
Option 1: Fatigue study
Option 2: Time study
Option 3: Method analysis
Option 4: Motion study
Correct Answer: Method analysis
Solution : The correct answer is (c) Method analysis
Method analysis involves analyzing and simplifying work processes to improve efficiency and productivity. It aims to eliminate unnecessary steps, reduce complexity, and optimize the workflow to enhance overall performance.
In the context of ABC Pharmaceuticals streamlining its production process, the technique that focuses on analyzing and simplifying work processes is "method analysis." This technique aims to optimize the production process by identifying and eliminating inefficiencies and unnecessary steps, ultimately improving productivity and efficiency.
Question : Case Study: XYZ Electronics Pvt. Ltd.
XYZ Electronics Pvt. Ltd. is a growing company specializing in the manufacturing of electronic gadgets. The management believes in effective directing to ensure smooth operations. Consider the following scenario to answer the questions.
Question:
The supervisor at XYZ Electronics emphasizes open communication to:
Option 1: Create misunderstandings among team members
Option 2: Establish a hierarchy of authority
Option 3: Facilitate the exchange of ideas and information
Option 4: Implement autocratic decision-making
Correct Answer: Facilitate the exchange of ideas and information
Solution : The correct answer is (c) Facilitate the exchange of ideas and information.
Open communication is an essential aspect of effective leadership and team collaboration. It involves encouraging and promoting the free flow of information, thoughts, ideas, and feedback among team members. This facilitates a more transparent and informed decision-making process and allows for a better exchange of ideas, ultimately contributing to the overall success of the organization.
Question : Case Study 17:
ABC Ltd. is a retail company that has been facing challenges in meeting government regulations related to packaging and waste management.
Q:- How can understanding government policies help ABC Ltd. in meeting regulations related to packaging and waste management?
Option 1: By seeking government subsidies
Option 2: By finding alternative suppliers
Option 3: By complying with the regulations and adopting eco-friendly practices
Option 4: By reducing the workforce
Correct Answer: By complying with the regulations and adopting eco-friendly practices
Solution : The correct answer is (C) By complying with the regulations and adopting eco-friendly practices
Understanding government policies can help ABC Ltd. in meeting regulations related to packaging and waste management by enabling the company to comply with the regulations and adopt eco-friendly practices. This approach involves aligning the company's operations with the specific regulatory requirements, implementing sustainable packaging and waste management practices, and ensuring adherence to government-mandated standards.
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