Thursday, February 16, 2012

Management Quiz - 28

1. An information system is an organized collection of data, equipment, procedures and peopleinvolved in the collection, storage and processing of data to produce information required in the management of an organization. For an information system to be effective, it should provide
[A]Internal timely information
[B]External timely information
[C]Internal accurate information
[D]Internal and External information that is timely and accurate

2. Operations Management is a tool by which management can create andimprove upon itsoperations. Which of the following statements is true regarding Operations Management?
[A]Operations managers are not found in the service sector
[B]Operations Management is concerned with only the input stage of product development
[C]The outputs of the operations system include both goods and services
[D]Labour is part of the transformation stage and is not considered an input

3. Productivity can be measured in two ways: total productivity and partial productivity. In both thecases it is expressed as a ratio of outputs to inputs. Which one of the following inputs is common to both the measures?

4. In addition to operations research, there are other techniques for improving productivity in anorganization. One such technique is ‘quality circle’. The term ‘quality circle’ refers to
[A]Acceptable standards shared by a group’s members
[B]A stage in the group development
[C]A temporary group to establish a specific task
[D]A work group that meets regularly to discuss, investigate and correct quality problems

5. Inventory is vital to organizations, as it represents considerable costs. So, various methods havebeen developed to control inventory related costs. Which isthe inventory control method developed to minimize ordering and holding costs, while avoiding stockout costs?
[A]Mathematical model
[B]Linear programming
[C]Economic order quantity
[D]JIT inventory system

6. If you were looking to investigate how productive your assets were in meeting short-termobligations, you would be most likely to use which of the following ratios?
[A]Current ratio
[B]Inventory turnover
[C]Debt ratio
[D]Return on investment

7. Ratio is an index that measures one variable relative to another and is generally expressed as apercentage or a rate. The ratio that tests how leveraged an organisation is, may be referred to as
[A]Current ratio
[C]Debt ratio
[D]Net profit margin

8. Managers need to consider the type of control system that they wish to use. Which control system helps managers to regulate and supply inputs to obtain maximum production without any interruption?
[A]Budgetary control
[B]Financial control
[C]Quality control
[D]Inventory control

9. A Funds Flow statement is
[A]A source of funds statement
[B]A statement of use of funds
[C]A statement of sources and uses of funds for a definite period between two definite dates
[D]An income statement

10. If a manager is evaluating the quality of the company’s product by examining complaint formssubmitted by customers, then he/she is using which of the following types of control?
[A]Concurrent control
[B]Feedback control
[C]Preventive control
[D]Yes-no control

11. There can be various types of controls in an organization. Which of the following is a self-regulating control system that once put into operation, can automatically monitor the situation?
[A]Strategic control system
[B]Tactical control system
[C]Operational control system
[D]Cybernetic control system

12. Even though control systems need to be tailored to suit specific situations, they all involve the samebasic process, that involves a sequence of steps. Which of the following is the first step in the control process?
[A]Comparing performance against standards
[B]Measuring performance
[C]Setting performance standards
[D]Determining deviations

13. All managers need adequate and effective control systems to help them make sure that actualperformance more or less conforms to planned performance. Which of the following is not a characteristic of effective control systems?
[A]Emphasis on the exception
[D]Single criterion for measuring performance

14. In a meeting, when a senior manager communicates meaning in two very different ways, then thecommunication distortion is called
[A]Unclarified assumption
[B]Premature evaluation
[C]Insufficient adjustment

15. In an effective organization, information flows in various directions. Which of the followinginformation flows takes place among persons at different levels, who have no direct relationships?