Materials Management
Question : Case Study:
ABC Pharmaceuticals believes in providing opportunities for skill development and growth for its employees. Which principle of scientific management is being exemplified here?
Option 1: Cooperation, not individualism
Option 2: Development of each person to their greatest efficiency
Option 3: Harmony, not discord
Option 4: Science, not the rule of thumb
Correct Answer: Development of each person to their greatest efficiency
Solution : The correct answer is (b) Development of each person to their greatest efficiency.
This principle emphasizes the importance of developing employees to their maximum potential by enhancing their skills, knowledge, and efficiency through training, education, and growth opportunities. It focuses on optimizing individual capabilities to achieve higher levels of performance and contribute effectively to the organization's success.
Question : Assertion: Scientific management principles aim to optimize worker output.
Reason: It promotes standardization and specialization in tasks.
Option 1: Both assertions and reasons are correct, and the reason is the correct explanation of the assertion.
Option 2: Both are correct, but the reason is not the correct explanation.
Option 3: The assertion is correct, the reason is incorrect.
Option 4: The assertion is incorrect, the reason is correct.
Correct Answer: Both assertions and reasons are correct, and the reason is the correct explanation of the assertion.
Solution : The correct option is (a) Both assertions and reasons are correct, and the reason is the correct explanation of the assertion.
The assertion states that scientific management principles aim to optimize worker output. This is true because the primary goal of scientific management, as proposed by Frederick Taylor and others, is to increase efficiency and productivity in the workplace, essentially optimizing worker output.
The reason provided is that it promotes standardization and specialization in tasks. This is also true and aligns with the principles of scientific management. Standardization and specialization help streamline processes, reduce inefficiencies, and optimize the way tasks are performed, ultimately leading to higher worker output and productivity. Therefore, the reason correctly explains why the assertion is true.
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 focuses on organizing resources and activities efficiently. It involves providing clear and specific instructions to employees to ensure smooth and efficient operations.
In summary, XYZ Retail Company providing clear and precise instructions to its employees to streamline operations aligns with the principle of "order," which involves organizing activities efficiently and providing clear guidelines for smooth operations within the organization.
XYZ Engineering uses fatigue study to understand the physical and mental strain experienced by employees during their tasks. Which technique of scientific management is being applied here?
Option 1: Fatigue Study
Option 2: Time Study
Option 3: Motion Study
Option 4: Method Study
Correct Answer: Fatigue Study
Solution : The correct answer is (a) Fatigue Study
Fatigue study involves the study of employee fatigue and determining the appropriate rest intervals to improve productivity. It focuses on understanding the physical and mental strain experienced by employees during tasks, which aligns with the scenario.
In summary, XYZ Engineering using fatigue study to understand the physical and mental strain experienced by employees during their tasks aligns with the technique of "Fatigue Study," which involves studying and addressing employee fatigue to enhance productivity and efficiency.
Question : Case Study 34
ABC Ltd. is a conglomerate planning to expand its operations. The company's management is considering the roles of SEBI in the financial market.
Question :
Which of the following is not a function of SEBI?
Option 1: Regulatory functions
Option 2: Protective functions
Option 3: Allocation of resources
Option 4: Developmental functions
Correct Answer: Allocation of resources
Solution : The correct answer is (c) Allocation of resources
Allocation of resources is not a function of SEBI. SEBI primarily focuses on regulatory, protective, and developmental functions within the securities market. The allocation of resources is a broader economic concept related to efficient distribution and utilization of resources in the economy, and it is not specifically a role of SEBI.
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: Which of the following words could replace the word 'perspective' as used in the passage?
Option 1: pattern
Option 2: viewpoint
Option 3: yank
Option 4: obedience
Correct Answer: viewpoint
Solution : The correct option is 2 i.e "viewpoint." Explanation:
Let's examine what the word "perspective" means: - Perspective: a specific angle from which to view something
- Let's examine the definitions of the words used in the choices.
-Pattern- is an organised or frequent way of doing something that has evolved over the past few years.
Viewpoint-Point of view or opinion expressed by a person
Yank - quickly pulled something with force.
Obedience-The quality or state of being submissive is called obedience.
Therefore, the word "viewpoint" could be used in place of "perspective" in the passage above.
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 primary objective of ABC Retailers is to:
Option 1: Maximize profits
Option 2: Offer a wide range of trendy clothing options
Option 3: Provide outstanding customer service
Option 4: Expand into new markets
Correct Answer: Offer a wide range of trendy clothing options
Solution : The correct answer is (b) Offer a wide range of trendy clothing options
Providing a wide range of trendy clothing options is a specific and relevant objective for a fashion apparel retailer like ABC Retailers. While maximizing profits is an important consideration for any business, the core focus of a fashion apparel store is typically to offer a diverse and attractive selection of clothing to meet customer preferences and needs. Providing outstanding customer service is essential, but it's often a means to achieve the broader objective of offering attractive clothing options. Expanding into new markets could be a strategic goal that supports the primary objective but may not be the primary objective itself.
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 2: Order
Option 3: Initiative
Option 4: Discipline
Correct Answer: Initiative
Solution : The correct answer is (c) Initiative
The principle of "Initiative" in management encourages employees to take proactive steps, make suggestions, and propose innovative ideas to improve processes, products, or services within the organization. ABC Electronics encouraging its employees to take the initiative and propose innovative ideas aligns with the principle of initiative, fostering a culture of creativity, innovation, and active participation among its workforce.
Hello pravind
Diploma in fire and safety management is a full time course , duration of the course is 1 to 2 years depending upon Institute rules.
Diploma holder in fire and safety management can work as safety officer, health and safety manager. In charge manager
Eligibility criteria- The candidate must has passed
Grade xii exam from any government recognized Institute.
Entrance exam-
There is no Entrance exam for pursuing this course. The admission to the course is merit based
Colleges offering the course - IIFE , NAGPUR NIFS new Delhi IIET , hyderabad
NIFS andhra pradesh
Fees - The average fees is 35000 per annum
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.
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 order in the stock market on behalf of GHI Enterprises. Dematerialization and opening a demat account are essential steps in the broader trading process, but they usually occur before placing an order. Settlement is a subsequent step where the actual transfer of securities and funds occurs after a trade is executed. However, placing an order is the immediate next step right after selecting a broker.
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