Materials Management
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
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
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
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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
Which objective of management focuses on the well-being and job satisfaction of employees in ABC Retailers?
Option 1: Economic objective
Option 2: Social objective
Option 3: Organizational objective
Option 4: Personal objective
Correct Answer: Social objective
Solution : The correct answer is (b) Social objective
The social objective of management is concerned with creating a positive work environment, fostering employee well-being, and ensuring that employees are satisfied with their jobs. It encompasses aspects such as workplace safety, employee engagement, work-life balance, and
Question : The change from competitiveness to cooperation between employees and management. Which process is being highlighted in the given statement?
Option 1: Method study
Option 2: Metal revolution
Option 3: Time study
Option 4: Motion study
Correct Answer: Metal revolution
Solution : Mental revolution in all the change in the attitude of workers and management towards one another from competition to cooperation.
Hence, option B is correct.
Question : Instead of fighting for dividing the surplus or profit, management and workers should coo- perate to increase it. Which of the following principles of scientific management is being highlighted in the given statement?
Option 1: Cooperation not individualism
Option 2: Harmony not discord
Option 3: Science not rule of thumb
Option 4: None of the above
Correct Answer: Cooperation not individualism
Solution : According to this principal there should be coperation between management and workers instead of individualism. Competition should be replaced by coperation. Both management and workers should realise the need and importance of each other.
Hence,option A is correct.
Question : Case Study: ABC Manufacturing implements scientific management techniques to standardize and optimize work processes. Which technique involves measuring the time taken to complete a specific task accurately?
Option 1: Fatigue study
Option 2: Time study
Option 3: Method analysis
Correct Answer: Time study
Solution : The correct answer is (b) Time study.
Time study is a fundamental component of scientific management, focusing on analyzing and measuring the time required for a worker to complete a particular task using the most efficient method. This technique helps in setting standard times
Question : Which of the following statement is correct? Statement 1- The aim of both Henry and Taylor principal is to secure maximum from available resources. Statement 2- Taylor’s contribution is expressed as scientific management.
Option 1: Both are true
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 2 is true and statement 1 is false.
Correct Answer: Both are true
Solution : The aim of both Henry and Taylor principal is to secure maximum from available resources. Taylor’s contribution is expressed as scientific management. Hence option A is correct .
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