Question : The SWOT analysis includes the evaluation of:
Option 1: Strengths, weaknesses, opportunities, and threats
Option 2: Sales, wages, operations, and taxes
Option 3: Suppliers, workers, objectives, and targets
Option 4: Structure, work environment, organization, and training
Correct Answer: Strengths, weaknesses, opportunities, and threats
Solution : The correct answer is (a) Strengths, weaknesses, opportunities, and threats.
The SWOT analysis is a strategic planning tool used to assess an organization's internal strengths and weaknesses, as well as external opportunities and threats. It involves identifying and analyzing the organization's positive attributes (strengths), areas for improvement (weaknesses), external factors that can be leveraged (opportunities), and external factors that pose risks or challenges (threats). The SWOT analysis provides insights that help in developing strategies to capitalize on strengths, address weaknesses, exploit opportunities, and mitigate threats.
Question : Which objective of management focuses on creating a positive work environment?
Option 1: Economic objective
Option 2: Social objective
Option 3: Organizational objective
Option 4: Personal objective
Question : Case Study: XYZ Manufacturing Company
XYZ Manufacturing Company is a well-established firm that produces consumer electronics. They have been facing increased competition and declining sales in recent years. The management is looking for ways to revamp their production processes and regain market share.
Question: One of the characteristics of effective planning that XYZ Manufacturing Company should focus on is:
Option 1: Lack of flexibility
Option 2: Ambiguous objectives
Option 3: Measurable and specific goals
Option 4: Ignoring external opportunities
Question : Assertion: management is termed as a continuous and a group activity.
Reason: every individual of a firm joins the organization with various different reasons and purpose and work towards the fulfillment of personal objectives rather than the organizational objective
Option 1: Both assertion and reason are correct, and the reason explains the assertion.
Option 2: Both assertion and reason are incorrect.
Option 3: The assertion is correct, but the reason is incorrect.
Option 4: The assertion is incorrect, but the reason is correct.
Option 5: Both assertion and reason are correct, and the reason is not the correct explanation of the assertion.
One of the characteristics of effective planning that XYZ Manufacturing Company should focus on is:
Question : Which of the following is a primary objective of management?
Option 1: Maximizing profits
Option 2: Minimizing costs
Option 3: Ensuring employee satisfaction
Option 4: Achieving work-life balance
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