Introduction to Management – Financial and Strategic Management MCQBy CACSMockTest / November 25, 2022 2 Introduction to Management – Financial and Strategic Management MCQ 1 / 39 Identify correct steps in forecasting.I. Analysis of deviations II. Forecasting future course of business III. Improving the existing forecasting procedure IV. Identifying and developing the structure (A) II, IV, I, III (B) III, I, II, IV (C) I, III, IV, II (D) IV, II, I, III 2 / 39 Identify the correct steps in planning.I. Selecting a course of action II. Determining alternative courses III. Establishing objectives IV. Formulating derivative plans V. Evaluation of alternatives VI. Establishment of planning premises (A) III, VI, II, IV, I, V (B) VI, III, II, V, I, IV (C) III, IV, II, V, I, VI (D) III, VI, II, V, I, IV 3 / 39 Which of the following can be treated as an internal planning premise? (A) Politico-technological conditions (B) Socio-economic conditions (C) Sales forecast (D) Technological changes 4 / 39 The planning process comprises determination and laying down of –(i) Objectives (ii) Policies (iii) Procedures (iv) Rules (v) Remuneration (A) (i), (ii), (iii), (v) (B) (i), (ii), (iii), (iv) (C) (i), (ii), (iv), (v) (D) (i), (iii), (iv), (v) 5 / 39 Limitations of planning: (A) Planning is a continuous function of management (B) Since the future cannot be predicted with absolute accuracy, premising is always subject to a margin of error and guesswork which are reflected in various plans based on them. (C) Planning is an all-pervasive and a primary function of management. (D) Planning is the selecting and relating of facts and the making and using of assumptions regarding the future in the visualization and formulation of proposed activities believed necessary to achieve desired results. 6 / 39 Planning – (A) Involves identification and classification of activities of the enterprise (B) Involves choosing the proper course of action from among alternatives (C) Is based upon individual incentives rather than group incentives (D) Give employees fresh insights into their own personalities and it can also help them understand why others sometimes respond as they do. 7 / 39 Planning is deciding in advance(I) What is to be done? (II) How is it to be done? (III) When it is to be done?(IV) Who has to do it? (A) (I) (B) (I), (II), (C) (I), (II), (III) (D) (I), (II), (III), (IV) 8 / 39 Which of the following is NOT a measure of a manager’s effectiveness? (A) Absenteeism and sickness (B) Level of staff turnover (C) Accidents at work (D) Speed of promotion through the organization 9 / 39 Managers require a combination of technical competence, social and human skills, and conceptual ability. Technical competence may be defined as: (A) The ability to view the complexities of the operations of the organization as a whole, including environmental influences (B) The ability to secure the effective use of human resources of the organization (C) The ability to apply specific knowledge, methods, and skills to discrete tasks (D) None of the above 10 / 39 Administration can be viewed as: (A) Less important than management (B) Same thing as management (C) Part of management (D) Separate from management 11 / 39 It is also said that the administration is (A) Lower level function (B) Middle-level function (C) Top-level function (D) None of above 12 / 39 The Board of directors of any company is normally concerned with – (A) Management (B) Administration (C) Health of managers (D) None of above 13 / 39 Broadly speaking, the administration is concerned with – (A) Planning (B) Organizing (C) Motivating and controlling (D) Planning and organizing 14 / 39 Scientific management is based on the assumption that – (A) Observation would reveal the workers need to be multi-skilled. (B) Workers can decide their own methods of performing tasks. (C) The scientific observation of people at work would reveal the one best way to do the task. (D) Workers would receive a set wage regardless of performance. 15 / 39 Which of the following principle of Henry Fayol emphasizes the need for teamwork? (A) Esprit de corps (B) Stability of tenure of personnel (C) Division of work (D) Scalar chain 16 / 39 Which of the following principle of Henry Fayol refers to superior-subor¬dinate relations? (A) Esprit de corps (B) Stability of tenure of personnel (C) Division of work (D) Scalar chain 17 / 39 An employee shall receive orders from one senior only. This principle is known as – (A) Scalar chain (B) Unity of discipline (C) Unity of command (D) Unity of direction 18 / 39 “Unity of Direction’’ means – (A) An employee shall receive orders from one senior only. (B) A group of activities with com-mon objectives shall have one head but different plans (C) A group of activities with com-mon objectives shall have one head and one plan (D) More than one manager should supervise the employees. 19 / 39 Out of principles of management suggested by Henry Fayol, ‘Discipline’ is necessary to ensure obedience and respect for – (A) Juniors (B) Society (C) Superiors (D) Older people in society 20 / 39 Who is popularly known as the father of ‘modern management theory? (A) Luther Gulick (B) Newmann (C) Henry Fayol (D) Frederick Taylor 21 / 39 Who is popularly known as the father of ‘scientific management? (A) Luther Gulick (B) Newmann (C) Henry Fayol (D) Frederick Taylor 22 / 39 Which of the following is not one of the five elements of management? (A) Planning (B) Co-ordination (C) Centralization (D) Command 23 / 39 Controlling involves: (A) Harmonizing the work relations and efforts at all levels for a common purpose. (B) Innovation because the manager not only adjusts his organization according to future conditions but also attempts to effect changes in these conditions. (C) Measurement of actual performance against the standard and recording deviations. (D) Issuing orders and instructions. 24 / 39 Maintaining discipline and reward¬ing effective performance is part of the function of management. (A) Planning (B) Directing (C) Forecasting (D) Staffing 25 / 39 Directing the subordinates involves___ (A) Delegation of authority and fixing of responsibility for carrying out the assigned duties. (B) Guiding, counseling, and instructing the subordinates about the proper way of doing the job. (C) Coordination of activities and authority relations throughout the organization. (D) Classification of activities into convenient groups for the purpose of division. 26 / 39 __provides the organization with an adequate number of competent and qualified personnel at all levels in the enterprise. (A) Motivation process (B) Directing process (C) Forecasting process (D) HR process/staffing 27 / 39 Organizing as a function of management involves – (A) Determination of activities of the enterprise keeping in view its objectives. (B) Laying down of suitable selection and placement procedures (C) Guiding, counseling, and instructing the subordinates about the proper way of doing the job (D) Measurement of actual performance against the standard and recording deviations 28 / 39 Which of the following is a fundamental function of management and all other functions of management are greatly influenced by it? (A) Controlling (B) Directing (C) Motivating (D) Planning 29 / 39 Which of the following is the preparatory step for actions and helps in bridging the gap between the present and the future? (A) Controlling (B) Directing (C) Motivating (D) Planning 30 / 39 Henry Fayol, the industrialist and popularly known as the ‘founder of modern management theory, (A) German (B) French (C) Greek (D) American 31 / 39 Management qualifies all tests of a profession except (A) Dominance of service motive (B) Restricted entry (C) Systematic body of knowledge (C) Systematic body of knowledge 32 / 39 Management is – (A) Science (B) Art (C) Both Science and Art (D) History 33 / 39 Management is___science. (A) Exact (B) An inexact (C) Pure (D) Perfect 34 / 39 Importance of management: (A) It enables the organization to survive in changing environment. (B) It improves the standard of living and increases profit which is beneficial to business and society. (C) Management fills up various positions with the right persons, having the right skills, training, and qualification. (D) All of the above 35 / 39 Koontz & O’Donnell state that man¬agement means, “Getting things done (A) Through people (B) With people (C) Through or with people (D) Thinking and utilizing human, material & financial resources in such a manner that would result in the best combination. 36 / 39 Koontz & O’Donnell state that man¬agement means, “Getting things done (A) Through people (B) With people (C) Through or with people (D) Through and with people 37 / 39 (D) Henry Fayol (A) Haimann (B) Koontz and O’Donnell (C) Hick (D) Henry Fayol 38 / 39 According to whom “to manage is to forecast, and to plan, to organize to command, to coordinate and to command”? (A) Haimann (B) Koontz and O’Donnell (C) Hick (D) Henry Fayol 39 / 39 The word “management” derives its origin from a word__ (A) monos (B) konos (C) nomos (D) lomos Your score is LinkedIn Facebook Twitter VKontakte Related