Management Quiz - 32 (Management Question Bank)

1. Using the BCG matrix requires considering which of the following factors?
[A]Types of risk associated with product development
[B]Threats that economic conditions can create in future
[C]Social factors
[D]Market shares and growth of markets in which products are selling



2. Strategic management is a process through which managers formulate and implement strategiesgeared toward optimizing strategic goal attainment, given available environmental and internalconditions. In the strategic management process, any organizational skills or resources that areexceptional or unique are the organization’s
[A]Potential external opportunities
[B]Potential internal strengths
[C]Core competencies
[D]Bargaining Power



3. Strategic management is a process for achieving strategic goals, given available environmental and internal conditions. It falls in the purview of Top Management. Which of the following statements iscorrect regarding Strategic Management?
[A]It seeks to maximise profit
[B]It identifies areas where the organisation can build a competitive advantage
[C]It is short-term in nature
[D]It has little relevance to small organisations



4. Strategy “Guru” Michael E. Porter developed the “five competitive forces” model in order to analysethe nature and intensity of competition in a given industry. The profit potential available to businessoperating in a particular industry is directly affected by the collective strength of these forces. Whichof the following is not one of Porter’s five competitive forces?
[A]Threat of substitutes
[B]Threat of technological advances
[C]Threat of new entrants
[D]Bargaining power of suppliers



5. A single-use plan is aimed at achieving a specific goal and designed to meet the needs of a uniquesituation. Once the goal is accomplished, the plan ceases to exist. Which of the following is a large-scale single-use plan that coordinates a complex set of activities necessary to achieve a majornonrecurring goal?
[A]Strategy
[B]Project
[C]Budget
[D]Program



6. Despite the many advantages of planning, there may be some obstacles and limitations in thisprocess, since nothing is perfect on this earth, as a general rule of law. Which of the following would not be considered a potential advantage of planning?
[A]It helps mangers to be future oriented
[B]It enhances decision coordination
[C]It increases the amount of time available for other managerial functions
[D]It emphasizes organizational objectives



7. In a business situation things are so complex, that without proper plans this complexity cannot behandled. Planning is a prerequisite not only for achieving success but also for surviving in a complexand competitive world. Planning gives direction, reduces the impact of change, minimizes waste andredundancy, and
[A]Sets the standards used in controlling
[B]Eliminates departments that are found to be not needed within the plan
[C]Sets the basis used for promotion of individuals within the organization
[D]Establishes the workloads for each of the departments



8. There can be different types of plans in an organization. A plan that comprises general guidelines,does not lock managers into a specific course of action and does not have defined objectives isreferred to as
[A]Operational plan
[B]Tactical plan
[C]Strategic plan
[D]Directional plan



9. The MBO process is characterized by an emphasis on the clarity and balance of objective andparticipation of managers with accountability for results. The MBO process has many steps. Which of the following is a final step of a typical MBO process?
[A]The organisation’s overall objectives and strategies are formulated
[B]Successful achievement of objectives is reinforced by performance based rewards
[C]The action plans are implemented
[D]Progress towards objectives is periodically reviewed, and feedback is provided



10. Today, many organizations are involved in social activities. Since the expectations of the societyhave changed, organizations have become more aware of their social responsibilities. A carefulanalysis of argument for and against the involvement of organizations in social welfare is necessary to determine whether an organization should implement social initiatives. The belief thatimprovement of the social environment benefits both society and business, is known as whatargument for social responsibility of business?
[A]Public expectation
[B]Business is a part of society
[C]Balance of responsibility and power
[D]Favourable public image



11. The phenomenon in which an employee reports a real or perceived wrongdoing under the control ofhis or her employer, to those who may be able to take remedial action, is known as
[A]Shirking
[B]Blackmailing
[C]Soldiering
[D]Whistle-blowing



12. Complex interactions between the manager’s stage of moral development and the various moderatingvariables determine whether he will act in an ethical or unethical manner. Moderating variablesinclude individual characteristics, structural design of the organization, the organizational culture andthe intensity of the ethical issue. The strength of a person's convictions refers to which of the following individual characteristics?
[A]Value
[B]Ego Strength
[C]Attitude
[D]Perception



13. The concept of social audit was first proposed in the 1950s by Howard R. Bowen. There is evidencethat many organizations are increasingly going for social audits to improve their reputation in themarket. Social audit can be said to be a technique for
[A]Measuring the social infrastructure within an organisation
[B]Measuring the social impact of an organisation in relation to its stakeholders
[C]Measuring the level of success or failure of an innovation
[D]Showing a total picture of how a business will operate



14. Which of the following stages in decision-making process attempts to understand the performancegap between predicted or expected level of performance and the actual level?
[A]Problem identification stage
[B]Resources and constraints identification stage
[C]Alternative evaluation stage
[D]Alternative selection stage



15. Authority, discipline, unity of command and unity of direction are
[A]Four of Fayol's fourteen principles of management
[B]Taylor's four principles of management
[C]Elements of Weber's ideal bureaucratic structure
[D]Principles of the human relations movement