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Friday 10 December 2010

MGT503- Principles of Management Complete Solved Past Midterm Paper

MIDTERM EXAMINATION
Fall 2008
MGT503- Principles of Management (Session - 2)
Time: 60 min
Marks: 50

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Question No: 1 ( Marks: 1 ) - Please choose one
Which of the following decision making techniques requires a panel of experts?
Interacting group
Delphi technique 48
Nominal group
Brainstorming
Question No: 2 ( Marks: 1 ) - Please choose one
Which of the following is an advantage of group decision-making?
The group process takes less time
Groupthink may occur
More decision alternatives are generated 45
One person can dominate the group
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Question No: 3 ( Marks: 1 ) - Please choose one
As
managers move towards the organizational hierarchy, problems are more likely to become
which of the following?
Well-structured
Ill-structured
Programmed
Non-programmed
Question No: 4 ( Marks: 1 ) - Please choose one
Programmed decisions minimize the need for managers to:
Act alone
Make the same decision
Exercise discretion
Do nothing
Question No: 5 ( Marks: 1 ) - Please choose one
Fifth Step in the rational decision making process is:
Implementation of the alternative
Analyzing alternatives 41
Developing alternatives
Allocating weights to the criteria
Question No: 6 ( 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: 7 ( Marks: 1 ) - Please choose one
In
decision making process, ideas should be evaluated on the basis of:
Acceptability
Durability
Accountability
Liability
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Question No: 8 ( Marks: 1 ) - Please choose one
All
of the following are the assumptions of rational decision making EXCEPT:
Alternatives are known
Possible outcomes known
Optimal decision is possible
Information is unknown lecture no. 16
Question No: 9 ( Marks: 1 ) - Please choose one
A
situation in which manager can make an accurate decision is called:
Certainty 40
Uncertainty
Risk
Factual
Question No: 10 ( Marks: 1 ) - Please choose one
The
single EU currency will be called:
Franc
Franc-mark
Pound
Euro 36
Question No: 11 ( Marks: 1 ) - Please choose one
The
customes, mores, values and demographic characteristics of the society in which the
organization function are called:
The socio-cultural element
► The legal-political element
► The economic element
► The international element
Question No: 12 ( Marks: 1 ) - Please choose one
Systems that are not influenced by and do not interact with their environment are
:
Open systems
Close systems 25
Flexible systems
Social systems
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Question No: 13 ( Marks: 1 ) - Please choose one
Giving prestigious job titles would be one way to satisfy people’s need for :
Esteem
Belongingness
Self-actualization
Safety
Question No: 14 ( Marks: 1 ) - Please choose one
Abraham Maslow and Douglas are called:
Administrative theorists
Pre-classical theorists
Classical theorists
Behavioral theorists 20
Question No: 15 ( Marks: 1 ) - Please choose one
When management provides orderly personnel planning and ensures that
replacements are available to fill vacancies, it is called :
Division of work
Discipline
Unity of command
Stability of tenure of personnel 19
Question No: 16 ( Marks: 1 ) - Please choose one
All
of the following are the characteristics of Max Weber’s ideal bureaucracy
EXCEPT:
Formalization of rules and procedures
Impersonality in application of rules and sanctions
Receiving orders from one superior only 18
Specialization of labor
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Question No: 17 ( Marks: 1 ) - Please choose one
NASA shoots a rocket and then continuously observes and makes whatever
course corrections are needed to keep it on track. This process is called:
Planning
Organizing
Leading
Controlling
Question No: 18 ( Marks: 1 ) - Please choose one
Which type of managerial skill refers to the ability to analyze and diagnose
complex situations?
Problem-solving
Interpersonal
Conceptual 12
Technical
Question No: 19 ( Marks: 1 ) - Please choose one
Controlling contingent situation comes under which of the following roles?
Spokesperson
Monitor
Leader
Disturbance handler 08
Question No: 20 ( Marks: 1 ) - Please choose one
Amir is representing his company at the local Chamber of Commerce Annual
Business Recognition luncheon. He is performing which of the following
managerial role?
Negotiation
Monitor
Figurehead
Liaison
Question No: 21 ( Marks: 1 ) - Please choose one
Which one of the following is the major responsibility of a manager?
Works anonymously behind the scenes
Sets the goals of the organization
Supervises the work of others
Actually performs the service or produces the product
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Question No: 22 ( Marks: 1 ) - Please choose one
All
of the following are values of studying management EXCEPT:
Recognizes the important role that management and managers play in society
Provides essential knowledge to be effective in managerial positions
Gives you insight into your personality and behavior
Gives insight into the way that organizations work
Question No: 23 ( Marks: 1 ) - Please choose one
The
role that involves symbolic nature duties is called:
Interpersonal role 08
Managerial role
Decisional role
Informational role
Question No: 24 ( Marks: 1 ) - Please choose one
To
motivate the employees a manager should give them:
► Monetary Incentives
► Promotion
Appreciation certificates
All of the given options
Question No: 25 ( Marks: 1 ) - Please choose one
Munib is the CEO of a hospital. He has spent his day planning the schedules of
employees for next month. He spent his day in:
Planning
Organizing
Leading
Controlling
Question No: 26 ( Marks: 1 ) - Please choose one
Jamshed is the CFO at Mutual Saving Bank. According to research studies, which
management activities are likely to take up the greatest amount of his time?
Planning
Organizing
Controlling
Leading
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Question No: 27 ( Marks: 1 ) - Please choose one
Asim assigns Khalid a project to be completed by the end of the month and then
holds periodic meetings with him to review his progress. Which of the
management functions Asim is performing?
Controlling
Organizing
Planning
Leading
Question No: 28 ( Marks: 1 ) - Please choose one
The
success of the business can be judged through:
Customer satisfaction
Achieving of Organizational Goals
Cost price reduction
All of the given options
Question No: 29 ( Marks: 1 ) - Please choose one
Which of the following is most important in order to improve the quality?
Division of Labor
Centralization
Proper Communication
Departmentalization
Question No: 30 ( Marks: 1 ) - Please choose one
All
of the following are the Characteristics of an organization. EXCEPT:
People
Product
Purpose
Structure
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Question No: 31 ( Marks: 1 ) - Please choose one
Which one of the following is the example of organization?
Hospitals
Colleges
Factories
All of the given options 03
Question No: 32 ( Marks: 1 ) - Please choose one
The
science which studies the nature of things, particularly values and ethics is
called:
Anthropology
Philosophy 14
Economics
Political sciences
Question No: 33 ( Marks: 1 ) - Please choose one
The
course which studies the values and ethics is called:
Philosophy
Behavioral science
Economics
Psychology
Question No: 34 ( Marks: 1 ) - Please choose one
Systems that interact with their environment dynamically are called:
Close systems
Open systems 25
Flexible systems
Social systems
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Question No: 35 ( Marks: 1 ) - Please choose one
Field of management that focuses on designing and implementing computer
based information systems for use by management is called:
Marketing management
Principles of management
Operations management
Management information system 23
Question No: 36 ( Marks: 1 ) - Please choose one
Abraham Maslow and Douglas are called:
Administrative theorists
Pre-classical theorists
Classical theorists
Behavioral theorists 20
Question No: 37 ( Marks: 1 ) - Please choose one
All
of the following are said to be the early advocates of Behavioral viewpoints
EXCEPT :
Robert Owen
Hugo Munsterberg
Mary parker Follett
Max Weber 20
Question No: 38 ( Marks: 1 ) - Please choose one
When management provides orderly personnel planning and ensures that
replacements are available to fill vacancies, it is called :
Unity of command
Stability of tenure of personnel 19
Division of work
Discipline
Question No: 39 ( Marks: 1 ) - Please choose one
EMU is abbreviation of:
Economic and Monetary Union 36
European and Monetary Union
English Monetary Union
European English Monetary Union
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Question No: 40 ( Marks: 1 ) - Please choose one
The
primary responsibility is to operate the business in the best interests of:
Suppliers
Distributes
Consumers
Stakeholders
Question No: 41 ( Marks: 10 )
“To
be successful in 21st century companies must take advantage of the new
information technology, globalization and entrepreneurship”. How advances in
these concepts positively effect a business?
ANSWER:
In 21st century the trends are changing rapidly in the fields of Information technology,
globalization and entrepreneurship. The best manager is one who takes these changes
as opportunity and makes good use of it for their organization. We see great advances
in the above mentioned fields which positively affect a business.
Information Technology: Technology is changing day by day but the best thing is to
change as the society changes just take technology changes as an opportunity, adopt
the changes and rule the world.
Globalization: There are no constraints by national borders the whole world is your
market now what managers need to do is just search for the opportunities and accept
the challenges and capitalize them to create value and for the betterment of your
organization.
Entrepreneurship: It is the process where individuals or groups use organized efforts
to take opportunities and create value from it. They are not contented to remain small
rather want to grow through innovation. There are great risks to be taken by
entrepreneur but entrepreneur are not afraid of risks and accept challenges and take
threats as an opportunity and gain success.
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