Mgt503 Principles Of Management
MGT503 - Principle of Management quiz according to the course objective of Virtual University of Pakistan.
Questions and Answers
- 1.
Within the members of the North American Free Trade Agreement, trade has _____ since the treaty was signed.
- A.
Decreased initially, but increased steadily
- B.
Increased
- C.
Decreased
- D.
Nither increased nor decreased
Correct Answer
B. IncreasedExplanation
Since the signing of the North American Free Trade Agreement, trade among its members has increased. This can be attributed to the elimination of trade barriers, such as tariffs and quotas, which has facilitated the flow of goods and services between the member countries (Canada, Mexico, and the United States). Additionally, the agreement has encouraged investment and economic cooperation, further contributing to the growth of trade within the region.Rate this question:
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- 2.
An area in the environment that if exploited may generate high performance is called organizational:
- A.
Strength
- B.
Weakness
- C.
Opportunity
- D.
Threat
Correct Answer
A. StrengthExplanation
An area in the environment that if exploited may generate high performance is called organizational strength. This refers to a particular aspect or attribute of an organization that gives it a competitive advantage or enhances its overall performance. By leveraging and capitalizing on its strengths, an organization can achieve success and outperform its competitors.Rate this question:
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- 3.
Discrepancy between existing and a desired state of affairs is called:
- A.
Weakness
- B.
Opportunity
- C.
Solution
- D.
Problem
Correct Answer
A. WeaknessExplanation
The correct answer is "Weakness" because a discrepancy between existing and desired state of affairs implies a lack or deficiency in the current situation. This can be seen as a weakness or a disadvantage that needs to be addressed or improved upon in order to achieve the desired state.Rate this question:
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- 4.
Similar activities that are grouped together under one manager in an organization is called:
- A.
Authority
- B.
Unity of command
- C.
Unity of direction
- D.
Order
Correct Answer
B. Unity of commandExplanation
Unity of command refers to the principle in which an employee should receive orders and be accountable to only one supervisor. It ensures clear communication, avoids confusion, and prevents conflicting instructions. By grouping similar activities under one manager, an organization can ensure that employees report to a single authority figure, enhancing coordination and efficiency. This principle helps to establish a clear chain of command and maintain discipline within the organization.Rate this question:
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- 5.
Asma, a new manager at XYZ Inc. primarily worries about assembling and coordinating the human, financial, physical, and other resources needed to achieve her goals. Which function is Asma primarily concerned about?
- A.
Organizing
- B.
Leading
- C.
Planning
- D.
Controlling
Correct Answer
A. OrganizingExplanation
Asma, as a new manager, is primarily concerned with assembling and coordinating the resources needed to achieve her goals. This aligns with the function of organizing, which involves arranging and structuring resources, tasks, and people in order to achieve organizational objectives efficiently. Planning involves setting goals and determining the best way to achieve them, leading involves influencing and motivating employees, and controlling involves monitoring and evaluating performance to ensure goals are being met. However, in this scenario, Asma's main concern is the organization of resources, making organizing the correct answer.Rate this question:
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- 6.
The SWOT approach assesses an organization's:
- A.
Speed, Wants, Order, Timing
- B.
Studies, Workflows, Opportunities, Trials
- C.
Strengths, Weaknesses, Opportunities, Threats
- D.
Signs, Worries, Objectives, Techniques
Correct Answer
C. Strengths, Weaknesses, Opportunities, ThreatsExplanation
The SWOT approach is a strategic planning tool used to evaluate an organization's internal strengths and weaknesses, as well as external opportunities and threats. By analyzing these factors, organizations can identify areas of competitive advantage, areas that need improvement, potential growth opportunities, and potential risks or challenges. This assessment helps organizations develop strategies to leverage their strengths, mitigate weaknesses, capitalize on opportunities, and mitigate threats.Rate this question:
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- 7.
1. Feed Back of ______ is necessary to improve the quality of the product.
- A.
Customers
- B.
Employees
- C.
Investors
- D.
All of the given options
Correct Answer
D. All of the given optionsExplanation
Feedback from customers, employees, and investors is necessary to improve the quality of the product. Each group provides valuable insights and perspectives that can help identify areas for improvement and make necessary changes. Customers can provide feedback on their experience with the product, employees can provide feedback on the production process and any issues they encounter, and investors can provide feedback on the overall performance and market demand for the product. Considering feedback from all these stakeholders ensures a comprehensive understanding of the product's strengths and weaknesses, leading to effective improvements.Rate this question:
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- 8.
The behaviorist Mary Parker Follett referred to integration as a process in which:
- A.
Managers use their directive might to solve conflicts
- B.
Employees use their own intuition to solve conflicts
- C.
Managers and employees work together to solve conflicts
- D.
Conflicts are ignored
Correct Answer
C. Managers and employees work together to solve conflictsExplanation
The behaviorist Mary Parker Follett believed in the concept of integration, which is a process where managers and employees collaborate to solve conflicts. She emphasized the importance of cooperation and teamwork in resolving conflicts, rather than relying solely on the directive power of managers or the intuition of employees. This approach promotes a more inclusive and participatory decision-making process, leading to better outcomes and stronger relationships within the organization.Rate this question:
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- 9.
1. Ali is a manager in a multinational organization. He believes that the employees of the company are lazy and do not have much ambition. Ali can be classed as _______ manager based on the perspectives of Douglas McGregor.
- A.
Theory Y
- B.
Bureaucratic
- C.
Theory X
- D.
Administrative
Correct Answer
C. Theory XExplanation
Based on the given information, Ali's belief that the employees are lazy and lack ambition aligns with the assumptions of Theory X. Theory X managers believe that employees are inherently lazy and need to be closely monitored and controlled in order to be productive. Ali's perspective reflects a negative view of employees and a lack of trust in their abilities, which is characteristic of a Theory X manager.Rate this question:
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- 10.
1. Which management theory focuses on managing the total organization?
- A.
Quantitative management
- B.
Scientific management
- C.
Behavioral management
- D.
Administrative management
Correct Answer
D. Administrative managementExplanation
Administrative management focuses on managing the total organization by emphasizing the overall coordination and integration of activities. This theory was developed by Henri Fayol and it focuses on principles such as unity of command, scalar chain, division of work, and centralization. It aims to improve efficiency and effectiveness by establishing clear roles and responsibilities, coordinating activities, and ensuring effective communication within the organization.Rate this question:
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- 11.
1. TCS represents what factor to the Pakistan Postal Service in its specific environment?
- A.
Competitor
- B.
Supplier
- C.
Customer
- D.
Government Agency
Correct Answer
A. CompetitorExplanation
The correct answer is "Competitor". TCS represents a competitor factor to the Pakistan Postal Service in its specific environment. This suggests that TCS is a competing organization that provides similar services or products as the Pakistan Postal Service.Rate this question:
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- 12.
1. Amir is representing his company at the local Chamber of Commerce Annual Business Recognition luncheon. He is performing which of the following managerial role?
- A.
Liaison
- B.
Figurehead
- C.
Monitor
- D.
Negotiation
Correct Answer
A. LiaisonExplanation
Amir is representing his company at the local Chamber of Commerce Annual Business Recognition luncheon, which suggests that he is acting as a liaison. A liaison is a managerial role that involves establishing and maintaining communication and relationships with external parties, such as other organizations or stakeholders. In this case, Amir is representing his company and serving as a connection between his company and the Chamber of Commerce.Rate this question:
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- 13.
1. Usman currently holds a management position within his company. His job responsibilities include maintaining a focus toward long-term issues that may impact the company as well as developing appropriate goals to guide the organization. Jim is most probably which type of manager?
- A.
Top Level Manager
- B.
Operational manager
- C.
Middle level manager
- D.
First line managers
Correct Answer
A. Top Level ManagerExplanation
Based on the information provided, Usman is responsible for maintaining a focus on long-term issues and developing goals for the organization. These tasks are typically associated with top-level managers who are responsible for setting the overall direction and strategy of the company. Therefore, Usman is most likely a top-level manager.Rate this question:
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- 14.
1. When an organization does everything that is required of it legally but nothing more. It is called:
- A.
Social contribution
- B.
Social response
- C.
Social obstruction
- D.
Social obligation
Correct Answer
D. Social obligationExplanation
Social obligation refers to when an organization fulfills its legal responsibilities but does not go beyond that. This means that the organization meets the minimum requirements set by the law but does not actively contribute to social causes or engage in any additional activities that benefit society.Rate this question:
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- 15.
1. It is assumed that a perfectly rational decision maker:
- A.
Would be objective and logical
- B.
Offers inconsistent decisions
- C.
Does not consider value maximizing as an objective
- D.
Does not follow rational assumptions
Correct Answer
A. Would be objective and logicalExplanation
A perfectly rational decision maker would be objective and logical because rationality implies making decisions based on reason and evidence rather than emotions or personal biases. By being objective, the decision maker would consider all relevant information and weigh the pros and cons before making a decision. Being logical means that the decision maker would use a systematic and rational approach to analyze the available options and choose the one that best aligns with their goals and objectives. This approach ensures that the decision maker is making choices based on sound reasoning rather than arbitrary or inconsistent factors.Rate this question:
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Current Version
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Mar 20, 2023Quiz Edited by
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Jan 10, 2010Quiz Created by
Mishel
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