Top 1000+ Solved Fundamentals of Economics and Management MCQ Questions Answer
Q. On the difficulty of recognising creativity, de Bono said, "Any valuable creative idea is ..." What?
a. ... worth a thousand ordinary ideas."
b. "... always logical in hindsight."
c. "... the mark of a creative personality."
d. "... part of a stream of good ideas."
Q. Which characteristic was found by Raudsepp among creative managers?
a. They had few hobbies or interests outside work.
b. They focused intensely on immediate needs.
c. They were irritated by the status quo.
d. They had little energy to spare.
Q. Which of the following functions or activities requires recruiting and placing qualified personnel needed for the organization so that it may achieve its objectives and goals?
a. Planning
b. Staffing
c. Organizing
d. Controlling
Q. A variation of the electronic meeting that links together media from different locations is ___________
a. E-commerce
b. The Delphi technique
c. Video conference
d. E-conference
Q. Who studied the nature of specific jobs, and broke the tasks into basic work units with the end resultproviding the one right way to perform the job?
a. Douglas M. McGregor
b. Frederick W. Taylor
c. Henry L. Gantt
d. Henry L. Gantt
Q. The recently emerged type of managerial job is ______________
a. Top Manager
b. Middle Manager
c. First Line Manager
d. Team Leader
Q. The Hawthorne studies:
a. Found that to increase worker efficiency, management must analyze and minimize the motions required to complete a task.
b. Found that when workers know they are being watched, their productivity increases.
c. Found that a worker is inherently lazy and will use any excuse not to perform their duties.
d. Found that workers accept a managerial directive only if it is acceptable in terms of their personal interests.
Q. The Behavioral approach to management focused on:
a. The worker
b. The manager
c. The owner
d. None of the above.
Q. The external environment factor that states: The values and culture that affect the way people feel about the organization they are in and about work itself is:
a. Sociological factors
b. Political factors
c. Economic factors
d. Psychological factors
Q. The external environment factor that includes: Factors that have a less immediate effect on a businesssuch as the nation's rate of inflation or recession, unemployment rate, or standard of living, is
a. Political factors
b. Sociological factors
c. Indirect economic factors
d. Direct economic factors
Q. The resources within an organization, used to achieve its goal, make up the _________ of a business.
a. External environment
b. Internal environment
c. Social responsibility
d. Workers motivation
Q. Strategic planning:
a. Addresses the organization's basic mission or business, issuing broad statements of purpose or direction that have a long lead time.
b. Involves managers in each unit of an organization who are responsible for achieving the unit's objectives within a specified period of time.
c. Looks specifically at resources, finances, and market conditions to determine ways to accomplish the overall plans of the organization.
d. Determines the day-to-day operations within an organization.
Q. GAP analysis:
a. Is a planning approach for determining where an organization as today.
b. Is a planning approach for determining how an organization will reach its goals.
c. Provides a diagram showing a company's present momentum and its potential.
d. All of the above.
Q. The SWOT approach assesses an organization's
a. Speed, Wants, Order, Timing
b. Structure, Workforce, Organization, Types
c. Strengths, Weaknesses, Opportunities, Threats.
d. Signs, Worries, Objectives, Techniques