Top 1000+ Solved Fundamentals of Economics and Management MCQ Questions Answer
Q. When managing a diverse team, it is important to keep in mind that:
a. it will be easier to reach agreement on specific actions.
b. the lack of a common perspective means that more time is spent on discussing issues
c. communication should be easier because the group is diverse.
d. diverse groups are generally less creative
Q. The challenge of creating team players will be greatest where the national culture is:
a. competitive
b. collectivist
c. individualistic
d. pluralistic
Q. The challenge of creating teams is less demanding for management when teams are introduced whereemployees have strong _________ values
a. collectivist
b. competitive
c. pluralistic
d. cooperative
Q. When designing reward systems for teams, it is best to encourage cooperative efforts rather than____________ ones.
a. Collectivist
b. competitive
c. cooperative
d. individualistic
Q. If companies value teamwork, then promotions, pay raises, and other forms of recognition should begiven to individuals for how effectively the work as:
a. individuals
b. team members
c. group members
d. leaders
Q. In our model of decision making under different conditions, what is the difference between risk and uncertainty?
a. Under risk, there is a well defined problem; under uncertainty, the definition is unclear
b. Under risk, choices are clear and the chances of different outcomes can be measured; under uncertainty, neither applies.
c. Under risk, probabilities can be measured; under uncertainty, they cannot.
d. Under risk, information is reliable; under uncertainty, it is not.
Q. When a manager knows little about the intended goals of a decision and the outcomes of the optionsare unclear, what type of situation are they in?
a. Uncertainty
b. Risk
c. Certainty
d. Ambiguity
Q. Decision making situations can be categorized along a scale which ranges from………
a. Uncertainty to certainty to risk
b. Certainty to uncertainty to risk
c. Certainty to risk to uncertainty to ambiguity
d. Certainty to risk to uncertainty
Q. A firm that is involved in two or more distinct businesses is known as:
a. A diversified company
b. A ventured company
c. A restructured company
d. A multinational corporation
Q. Which of the following describe(s) a global marketplace?
a. The entire world is a marketplace
b. National borders are irrelevant
c. The potential for organizations to grow expands dramatically
d. All of the given options
Q. The __ of a strategy specifies the range of markets in which an organization will compete
a. Scope
b. Distinctive Competency
c. Resource deployment
d. Effective strategy
Q. When a manger made a decision and he is uncertain about the outcomes. His decision is likely to be:
a. Of Poor Quality
b. Unacceptable
c. Successful
d. Risky
Q. Non-programmed decisions are typically made under a condition of which of the following?
a. Certainty
b. Low levels of risk
c. Uncertainty
d. Reliability
Q. Which of the following is part of the 14 principles of management identified by Henri Fayol?
a. Scalar chain
b. Innovation
c. Efficiency
d. Motivation
Q. A well-designed goal should be:
a. Short and very specific about expected outcomes
b. Written in terms of outcomes rather than actions
c. Identifiable to even the first-line supervisors
d. Specific and within a manageable time frame