MIDTERM Solved Paper MGT503 - Principles of Management

MIDTERM  EXAMINATION

Fall 2008

MGT503- Principles of Management (Session - 2)

    

Question No: 1    ( Marks: 1 )    - Please choose one

 Which of the following decision making techniques requires a panel of experts?

       ► Interacting group

       ► Delphi technique

       ► 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

       ► One person can dominate the group

   

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

       ► 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

       ► 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

   

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

   

Question No: 9    ( Marks: 1 )    - Please choose one

  A situation in which manager can make an accurate decision is called:

       ► Certainty

       ► Uncertainty

       ► Risk

       ► Factual

   

Question No: 10    ( Marks: 1 )    - Please choose one

 The single EU currency will be called:

       ► Franc

       ► Franc-mark

       ► Pound

       ► Euro

   

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

       ► Flexible systems

       ► Social systems

   

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

   

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

   

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

       ► Specialization of labor

   

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

       ► Technical

   

Question No: 19    ( Marks: 1 )    - Please choose one

 Controlling contingent situation comes under which of the following roles?

       ► Spokesperson

       ► Monitor

       ► Leader

       ► Disturbance handler

   

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

   

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

       ► 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

   

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

   

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

   

Question No: 32    ( Marks: 1 )    - Please choose one

 The science which studies the nature of things, particularly values and ethics is called:

       ► Anthropology

       ► Philosophy

       ► 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

       ► Flexible systems

       ► Social systems

   

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

   

Question No: 36    ( Marks: 1 )    - Please choose one

 Abraham Maslow and Douglas are called:

       ► Administrative theorists

       ► Pre-classical  theorists

       ► Classical theorists

       ► Behavioral theorists

   

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

   

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

       ► Division of work

       ► Discipline

   

Question No: 39    ( Marks: 1 )    - Please choose one

 EMU is abbreviation of:

       ► Economic and Monetary Union

       ► European and Monetary Union

       ► English Monetary Union

       ► European English Monetary Union

   

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 21^st century companies must take advantage of the new information technology, globalization and entrepreneurship”. How advances in these concepts positively effect a business?

ANSWER:

In 21^st 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.