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Friday 10 December 2010

MGT503- Principles of Management Solved Midterm Spring 2009 Paper

MIDTERM EXAMINATION
Spring 2009
MGT503- Principles of Management (Session - 3)
Time: 60 min
Marks: 50

Question No: 1 ( Marks: 1 ) - Please choose one
Sulman thinks about his job while playing with his son on the weekend, and he continually
volunteers to do extra assignments and project for his department. These suggest that
Sulman has a strong need for :
Esteem
Security
Achievement
Power
Question No: 2 ( Marks: 1 ) - Please choose one
Asim assigned Khalid a project to be completed by the end of the month and then hold
periodic meetings with him to review his progress. Which management function Asim is
performing?
Planning
Leading
Controlling
Organizing
Question No: 3 ( Marks: 1 ) - Please choose one
The single European Union currency is called:
Franc
Franc-mark
Pound
Euro
Question No: 4 ( Marks: 1 ) - Please choose one
A large chemical company not only dispose off all toxic waste properly as outlined by law,
but it also spends $1 million dollars each year on research to determine better processes for
all businesses to use in disposing of toxic wastes. This company is exhibiting which of the
following?
Social responsibility
Social obligation
Moral obligation
Social responsiveness
Question No: 5 ( Marks: 1 ) - Please choose one
Ali has decided to implement changes within the production process of his organization.
This decision was based upon his review of how well the performance level of the
organization is meeting the established goals for the company. He is practicing which of the
following management functions.
Planning
Controlling
Leading
Organizing
Question No: 6 ( Marks: 1 ) - Please choose one
A plan developed to carry out a course of action that is not likely to be repeated in the
future is called:
Single-use plan 59
Specific plan
Reaction plan
Directional plan
Question No: 7 ( Marks: 1 ) - Please choose one
The intent of which of the following is to reduce uncertainty by playing out potential
situations under different specific conditions?
Project management
Scheduling
Environmental analysis
Scenario planning 56
Question No: 8 ( Marks: 1 ) - Please choose one
All of the following are disadvantages of group decision making EXCEPT:
More time taken to reach a solution
Minority domination
More alternatives are generated 46
Groupthink decreases effectiveness of decision
Question No: 9 ( Marks: 1 ) - Please choose one
The strap of Ali's bag tore off as he threw it over his shoulder. On the way to school, he
stopped at the first store that carries bags, walked in and purchased one from the front
rack. Ali has just made which of the following type of decision?
Maximizing
Satisficing
Risky
Optimal
Question No: 10 ( Marks: 1 ) - Please choose one
Asad spoke out in a meeting in favor of a potential cost savings that would result from a
new employee benefits program offered by the company. He later received information
that showed that his initial decision about the cost savings was incorrect, but he was too
embarrassed to publicly admit that he was wrong, so he stuckby his original statement.
Asad is practicing which of the following?
Bounded rationality 46
Satisficing
Escalation of commitment
Maximizing
Bounded rationality means that the ability of managers to be perfectly rational in making
decisions is limited by such factors as cognitive capacity and time constraints.
Bounded rationality means that the ability of managers to be perfectly rational in making
decisions is limited by such factors as cognitive capacity and time constraints.
Question No: 11 ( Marks: 1 ) - Please choose one
Aisha wants to sell her house. She makes a decision to sell house to the first person who
comes along after getting the initial offer. which of the following she is practicing?
Bounding rationality
Satisficing
Competitive
Optimizing
Question No: 12 ( Marks: 1 ) - Please choose one
Which of the following aspect of decision making is based on facts such as costs, revenues
and product design specifications?
Decision quality
Escalation of commitment
Optimizing
Satisficing
Question No: 13 ( Marks: 1 ) - Please choose one
In case of a simple problem the assumptions of rationality can be met because of which of
the following?
Goals are clear and alternatives are boundless
Goals are unlimited and alternatives are limitless
Goals are clear and alternatives limited
Goals are boundless and alternatives are clear
Question No: 14 ( Marks: 1 ) - Please choose one
Most of the time lower level management of organizations have to deal with problems
which are:
Satisficing
Well-structured
Non-programmed
Ill-structured
Question No: 15 ( Marks: 1 ) - Please choose one
Putting a decision into action and conveying the decision to the persons who will be
affected by it, is known as:
Decision implementation
Rational decision making
Irrational decision making
Problem identification
Question No: 16 ( Marks: 1 ) - Please choose one
Once a manager has identified a problem, the next step would be the identification of:
Discrepancies
Decision criteria 41
Scenarios
Factor weights
Question No: 17 ( Marks: 1 ) - Please choose one
A plant manager of an organization, who is trying to reduce turnover of production
workers, notices that turnover has decreased by 10 percent in four months after he
introduced a new training program, the manager is at which step in the rational decisionmaking
process?
Identify the problem
Evaluate the decision criteria
Analyze the alternatives
Evaluate the results
Question No: 18 ( Marks: 1 ) - Please choose one
A retail clothing store manager who estimates how much to order for the current spring
season based on last spring’s outcomes is operating under what kind of decision-making
condition?
Seasonal
Risk
Uncertainty
Certainty
Question No: 19 ( Marks: 1 ) - Please choose one
The extent to which an alternative can be accomplished within related organizational
constraints such as time, budgets, technology and policies is called:
Reversibility
Sustainability
Feasibility 40
Acceptability
Question No: 20 ( Marks: 1 ) - Please choose one
A choice made from two or more alternatives is called:
Support
System
Network
Decision
Question No: 21 ( Marks: 1 ) - Please choose one
An agreement among the Mexican, Canadian and U.S government in which barriers to
free trade have been eliminated is called:
NAFTA
ASEAN
EU
WTO
Question No: 22 ( Marks: 1 ) - Please choose one
Few years ago, employees of a international company took wages cuts to help the firm
offset large losses. Now firm is again earning profits and employees believe that their wages
should be restored but company is not willing to restore their wages. Organization is
showing which of the following behavior?
Unethical
Socially responsible
Ethical
Socioeconomic
Question No: 23 ( Marks: 1 ) - Please choose one
A large pulp and paper company meets all federal guidelines and obeys all laws rigorously
as it cuts down timber. The primary concern of this company is compliance and profit
maximization for its stockholders. This company is exhibiting which of the following?
Social responsibility
Social obligation
Moral obligation
Social responsiveness
Question No: 24 ( Marks: 1 ) - Please choose one
Mega environment, that includes the attitudes, values, norms, beliefs, behaviors and
associated demographic trends that are characteristics of a given geographic area, is called:
The socio-cultural element 31
The international element
The economic element
The legal-political element
Question No: 25 ( Marks: 1 ) - Please choose one
All of the following are the parts of organization’s external environment, EXCEPT:
Culture 32
Customers
Competitors
Regulators
The Organization’s Culture
Just as individuals have a personality, so, too, do organizations. We refer to an organization’s
personality as
its culture.
Organizational culture is a system of shared meaning and beliefs within an organization that
determines,
in large degree, how employees act. This definition implies several things.
1. Culture is a perception that exists in the organization, not in the individual.
2. Organizational culture is a descriptive term.
Question No: 26 ( Marks: 1 ) - Please choose one
All of the following are the part of organization’s internal environment EXCEPT:
Employees
Owner
Culture
Regulators
( Stakeholders)
Question No: 27 ( Marks: 1 ) - Please choose one
Task environment is also called:
Specific environment
Goal orientated environment
Open environment
Close environment
Question No: 28 ( Marks: 1 ) - Please choose one
Mega environment is also called:
Open environment
Close environment
Flexible environment
General environment
Question No: 29 ( Marks: 1 ) - Please choose one
The Walt Disney company’s movies, theme parks and television programs all benefit one
another. Children who enjoy a Disney movie like LION KING want to go to Disney world
and see lion king show. They benefits greatly from:
Negative Entropy
Synergy
Transformation
Entropy
Question No: 30 ( Marks: 1 ) - Please choose one
The bank of New England uses models to figure out how many teller need to be on duty at
each location at various times throughout the day. Bank is using which of the following
approaches?
Management science
Operations management
Total quality management
Contingency perspective
Question No: 31 ( Marks: 1 ) - Please choose one
Viewpoint arguing that appropriate managerial action depends on the particular
parameters of the situation is called:
Contingency theory 24
Behavioral theory
Administrative theory
Social theory
Question No: 32 ( Marks: 1 ) - Please choose one
Chester Barnard saw organizations as a ______system that required human assistance.
Moral
Ethical
Social 28
Technical
Question No: 33 ( Marks: 1 ) - Please choose one
Low level management has a complete authority to make decisions in case of:
Centralization
Decentralization
Scalar Chain
Order
Question No: 34 ( Marks: 1 ) - Please choose one
According to Adam Smith, the division of labor results in:
Increased worker motivation
Decreased worker specialization
Increased worker productivity
Decreased worker motivation
Question No: 35 ( Marks: 1 ) - Please choose one
According to Mintzberg monitor, disseminator and spokesperson are all:
Interpersonal roles
Informational roles 8
Decisional roles
Functional roles
Question No: 36 ( Marks: 1 ) - Please choose one
Hussain is the physician who heads the Critical Care Unit at Mercy Hospital, the most
important role that he performs is:
Informational
Decisional
Interpersonal
Functional
Question No: 37 ( Marks: 1 ) - Please choose one
Controlling contingent situation comes under which of the following roles?
Spokesperson
Monitor
Leader
Disturbance handler
Question No: 38 ( Marks: 1 ) - Please choose one
Which of the following is most important characteristic of an entrepreneur?
Planning
Communication
Rapid decision making
Goal setting
Question No: 39 ( Marks: 1 ) - Please choose one
Adam Smith wrote his book “The Wealth of Nations” in:
15th century
17th century
20th century
18th century
Question No: 40 ( Marks: 1 ) - Please choose one
Which of the following courses helps managers gain a better understanding of motivation,
leadership, trust, employee selection, performance appraisals and training techniques?
Psychology
Sociology
Political science
Anthropology
Question No: 41 ( Marks: 10 )
Ali is working as the head of tea unit of a multinational organization. Expenses of tea unit
are increasing day by day. He is much worried. He decided to call a meeting and ask for
some suggestions to reduce expenses from his subordinates. Different subordinates suggest
for the downsizing of research department as it was not working efficiently. Ali still wants
to think over this suggestion. What steps he should take to make a rational decision?
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