Top 1000+ Solved Fundamentals of Economics and Management MCQ Questions Answer
Q. Which of the following BEST describes directional plans?
a. Flexible plans that set out general guidelines
b. Stringent plans that establish specific directions
c. Formal plans that provide the directions of how to assemble the product.
d. General plans that allow the workers to change the schedule of production
Q. SWOT analysis divides organizational strengths into two categories; common strength and__.
a. Strategic imitation
b. Competitive edge
c. Competitive parity
d. Distinctive competencies
Q. Planning is often called the primary management function because it:
a. Offers some basis for future decision making
b. Creates the vision for the organizational members
c. Establishes the basis for all the other functions
d. Sets the tone for the organizational culture
Q. The organization that has developed the capacity to continuously learn, adapt, and change is called:
a. Virtual organization
b. Learning organization
c. Traditional organization
d. Bureaucratic organization
Q. Which of the following is important in effectively implementing the chosen alternative in the decisionmaking process?
a. Getting upper-management support
b. Double-checking your analysis for potential errors
c. Allowing those impacted by the outcome to participate in the process
d. Ignoring criticism concerning your chosen alternative
Q. Cultivating a learning culture where organizational members systematically gather knowledge andshare it with others in the organization so as to achieve better performance is called:
a. Knowledge management
b. Technical management
c. Software management
d. Systems management
Q. Which one of the following individuals is most closely associated with scientific management?
a. Frederick Taylor
b. Mary Parker Follett
c. Harold Koontz
d. Max Weber
Q. All of the following are steps in objective setting, EXCEPT.
a. Specify deadlines
b. Allow the employee to actively participate
c. Link rewards to effort
d. Prioritize goals
Q. Concern for employee motivation is most closely associated with which of the following managementapproach?
a. Bureaucracy
b. Organizational behavior
c. Scientific management
d. Systems
Q. An appropriate managerial behavior in a given situation that depends on a wide variety of elements, iscalled:
a. Open system
b. Contingency perspective
c. Entropy
d. Quantitative perspective
Q. A budget is an example of which of the following plan?
a. Strategic plan
b. Single use plan
c. Informal plan
d. Standing plan
Q. Which of the following is best described as doing something differently and has been described asdiscontinuous or complementary change?
a. Entrepreneurship
b. Innovation
c. Variance
d. Enterprise
Q. First-line managers are responsible to report to:
a. Top level mangers
b. Middle-level mangers
c. Supervisors
d. Operational mangers
Q. Associations of different nations like European Union & NAFTA have been established to:
a. Share the armies of each other
b. Stabilize the political systems
c. Promote open trade among nations
d. All of the given options