Thursday, March 1, 2012

Management Quiz - 39 (Questions Answers for MBA)

1. Tyrone currently holds a management position at XYZ Corporation. He is excellent at time management and does not hesitate to delegate tasks to subordinates. Tyrone feels the most challenged and performs at his best level when unique problems arise at his company. He is most often one of the first managers to come up with an effective solution for the problem. Which of these can be stated of Tyrone?
[A]Tyrone is excellent with programmed decisions
[B]Tyrone relies too heavily on the work of others
[C]Tyrone is apparently risk averse
[D]Tyrone excels at deriving non-programmed decisions

2. The success of an organization greatly depends on the decisions that managers make. Decision-making is the process by which a course of action is selected so as to deal with a specific problem. It is a systematic process and involves a series of steps. Feedback is usually used in which of the following stages of the decision-making process?
[A]Problem identification stage
[B]Resources and constraints identification stage
[C]Alternative evaluation stage
[D]Monitoring stage

3. Every company wants to gain competitive advantage over its competitors. So, a company follows certain strategies to achieve it. If a company is able to be unique in its industry in a manner widely valued by the market, it is likely to follow a
[A]Diversification strategy
[B]Differentiation strategy
[C]Focus strategy
[D]Cost-leadership strategy

4. An objective is the object or aim of an action. It implies an explicit direction or the action taken and a specific quality of work to be accomplished within a given period of time. Decisions relating to determining organizational objectives and designating the corresponding action necessary to reach them are
[A]Operational control decisions
[B]Strategic planning decisions
[C]Management control decisions
[D]Management information decisions

5. As an organization grows in size and complexity, specialization of various tasks becomes a necessity, in most of the cases. Which of the following refers to the tendency of a system to move towards increased specialization of various tasks?
[D]Dynamic Homeostasis

6. The eight key result areas in which Peter Drucker advises managers to set objectives include all of the following except
[A]Market standing
[C]Public responsibility
[D]Inventory control

7. If you were responsible for setting up an MBO program, which of the following steps would you need to complete before the others?
[A]Establish specific goals for various departments, subunits and individuals
[B]Formulate action plans
[C]Clarify organizational roles
[D]Implement and maintain self-control

8. Management by Objectives (MBO) is a management process that is popular in many organizations. It is the joint setting of goals and objectives by superiors and subordinates. A major difference between traditional objective setting and MBO is
[A]In MBO, there are multiple objectives covering a range of organisational activities
[B]In traditional objective setting the objectives, once formulated, provide direction for management decisions
[C]In traditional objective setting the objectives, once established, form the criteria against which actual accomplishments can be measured
[D]Traditional objective setting is ‘top down’ only, while MBO is both a ‘top down’ and ‘bottom up’ process

9. A local firm has earned a good reputation because of quality paper bags manufactured by it. Moreover, it is environmental conscious and makes use of only recycled paper for manufacturing the bags. So when the firm advertises that it uses only recycled paper products, it is
[A]Meeting its social obligation
[B]Being socially responsive
[C]Meeting its ethical responsibilities
[D]Paying attention to the bottom line

10. Complex interactions between the manager’s stage of moral development and the various moderating variables determine whether he will act in an ethical or unethical manner. Moderating variables include individual characteristics, structural design of the organization, the organizational culture and the intensity of the ethical issue. Which of the following is/are not individual characteristic(s)?

11. The most important resources of an organization are its employees - the people who work in the organization and give it their talent, creativity and drive. Employees are vital for effective operation of a company. Which of the following is/are true about organizationally committed and satisfied employees?
[A]Lower rates of turnover and absenteeism
[B]Higher rates of voluntary turnover
[C]Higher rates of absenteeism
[D]Low motivation

12. The social responsiveness of an organization can be measured on the basis of which of the following criteria?
[A]Contributions to profit-oriented projects
[B]Fair treatment of employees; fair pay and safe working conditions
[C]Unequal employment opportunity
[D]Unsafe and poor quality products to customers

13. An open system model is based on organization-environment interaction. A business takes the inputs, processes and transforms them and gives the output. There is a set of interactive subsystems in such a system. Identify from the following, the interactive subsystems.
[A]Technical and managerial
[B]Managerial and accounting
[C]Accounting, non-technical and organizational
[D]Technical, managerial and boundary spanning

14. There are many steps to be followed in creating sustainable competitive advantage for any firm. Which one of the following is not a part of this process?
[A]Identify the specific target market the firm wants to serve
[B]Identify the potential opportunities that have not been tapped
[C]Analyze the resources and abilities to find out whether it can exploit the opportunities that have been identified
[D]Motivate employees

15. The principle of preventive control makes a sharp distinction between analyzing performance reports and determining whether managers adopted the established principles in actual practice. All of the following are advantages of preventive control except
[A]One need not have a thorough understanding of managerial principles, functions and techniques and the management philosophy
[B]Greater accuracy at work is achieved in assigning personal responsibility to managers
[C]Managers will be able to take corrective actions in time
[D]It encourages self-control