Principles and Practices of Management Consolidated

7/28/2019 Principles and Practices of Management Consolidated

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Principles a

List of


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Continuous communication

Markets notice

Postal ballot system

Self-regulation enablerMultiple Choice Multiple Answer

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Company's checklist before making a call to the

consultant

Need of consultants

Role of consultants

Rule for becoming successful consultant


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Disclosures

Planning

Shareholder democracy

Trust


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Match The Following

QuestionAppley L

Definition of Management

Koontz and O'Donell

Peter Drucker

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Ethical Subjectivism

Obligation of confidentiality and loyalty to the

organization

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Management as a discipline

Management is a multipurpose organ

Management is understood by performance

Management requires learningScience is developed


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Esteem

Management Desires

Social or Affiliation

Worker's Desires

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Challenge faced by the retail sector

Favourable factor which will further develop the

retail sector in India

Indian consumer demand

Liberalization of markets

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Goals

MBO

Mission

Vision

Match The Following

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Organization as a corporate citizen

Organization as a relationship

Organization as a structure of authority

Organization as an establishmentMatch The Following

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AMP

ING Group

STANDARD LIFE

Zurich


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Written Communication

Business letter

Outward Number

Inward address


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Head Address


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Control

Delegation

Exception

Organizing

Philosophy



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Which King insisted upon setting the goals?

Who mentioned that everybody has a divine power

to face challenges?

Who popularize Transcendental Meditation?

Who was the mentor of Chandragupta Maurya?

Whose success story has taught us a lesson?

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Emotional distress shrinks working memory

Empathy involves reading unstated emotional cues

EQ refers to the qualities

Science is proving that EQ more than IQ

self-motivation requires a high level of optimism



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True/False

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Control

Deviations

Flexible

Measurement

Motivating


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Azeem Premji

Nambiars

Nulsi WadiaSinghanias

Tatas


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A favorable factor which will help the further

development of retail sector in India

An average Indian buying habit

Brands are no longer products

Challenge faced by the retail business

Obstacle to retail development in India


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Consultants

De merger

Mergers

Sniffing

Trendy

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Correct Answer

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Knowledge based decision-making.

Management can be applied everywhereManagement is dynamic

Manager does not require any specific qualification

Professional managers may have only salary-stake


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True/False

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Five management functions

Four supervisors at implementation department

Philosophy of scientific management

Six industrial activities


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Alfred Bennet

Daniel GolemanEmpathy

Social effectiveness


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Functional authority

High degree of delegation

Need for delegation

Principle of effective delegation


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Equity

Esprit De Corps

Scalar chain

Unit of command


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True/False


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CPM

Management Audit

Pert

Return on investment



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Characteristic of management

Feature of management

Fundamental functions of management

Scope of management

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Exclusive retailingImportant trends in retailing

Internet

Retailing category based on shop area/location

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Making sense of situations


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Creativity

Inquiry

Making choices


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Correct AnswerMatch The Following

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Federick W.Taylor

Henry Fayol

Vilfredo Pareto

W.Edward Deming


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Business dynamics

Control techniques

Management philosophy

Uniformity of policy


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BPR

Potential external opportunities

Potential internal strengths

TQM

True/FalseQuestion

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Kautilya

King Akbar

Samartha Ramdas

Swami Vivekananda

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What is a basic need?

What is an esteem need?Who discovered the Expectancy theory?

Who is the father of the three-needs theory?

Who propounded Theory X?


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KarmaKnowledge Worker

Tamas

Vipassana

Visionary

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Benefits

Budgets

Policies

Problem Perception

Takeover


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Correct Answer



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Changes can be anticipatedControl gives the correct picture

Control highlights omissions if any.

Control is related to the future.

The process of control is complete

True/False

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Correct Answer


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True/False

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Correct Answer

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Corporatization of services

Functional management challenges

Reason for expansion of service sectorService sector is not influenced by this system

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Decentralization

DelegationOrganizing

Span of management

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What can act as a self-regulation enabler?


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help shareholders, creditors and other

What is at the core of corporate governance?

What is professionalism to corporate governance?

What is succession planning for the board of

directors?Multiple Choice Multiple Answer

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It develops human resources

Maintaining discipline

Managers should adopt an appropriate style of

leadership to make direction effective

Motivation of subordinates.

Policies and procedures of the Organization.


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For high-tech services the ingredients are

knowledge andOne reason for expansion of services is

Service may or may not be tied to which good

Services a good opportunity for a new entrepreneur

Services cannot be stocked and delivered later are

called

Match The Following


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Question

EQ

Benefit

Cost

Self-Motivation

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Areas of operations in event managementDefinition of event management

Leading companies in this sector of event

management

Problems faced by event management industry

True/False


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Management is a creative and________process.

continuous

What is lacking in Indian business companies management ?

Professionalism

Few of the management principles given by Henry Fayol are:

Division of work , Discipline , Authority and responsibility

The fundamental objective of corporate governance is essentially

enhancement of long term shareholder value

________is at the core of corporate governance.

trust

In which sector is management given much importance?

Corporate

Corporatization of the service sector is essentially

professionally managed services

A procedure has the following advantages

ensures uniformity of action , increases co-ordination , provides good

standard for the manage

Learning organizations should be adaptive to their internal environment.

False

The purpose of communication is informing others and becoming informed,

directing others and being directed and

Influencing others and being influenced

Who said, Management is the creation and maintenance of internal

environment in an enterprise, where individuals working in groups can

perform efficiently and effectively towards the attainment of gr

Koontz & O Donell

Under mechanism of scientific management, scientific task setting includes :

d Practices of Management

ttempted Questions and Answers


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Time study , Motion study , Method study

The contribution of the service sector to the employment generation has been

proportionate.

False

Safety needs are those where the person feel important and must also receive

recognition from others.

False

Board members should have an independent sense of judgment.

True

Business families have started spending more on research and development.

True

In an organisation the reports that are in the form of graphs, tables etc, are

called ________

statistical reports

Name the three important Generic Competitive Strategies.

Overall cost leadership , Differential , Focus

Which is the technique where the completion of all tasks is checked in the

order planned in the time scheduled is known as

Critical path method

Research into the average Indian buying habits have brought about the

following facts

they prefer to pay in cash , they like to touch and feel the merchandise , they

want attention to be given to all members of their group

Correct Answer

motivates people

well managed companies

shareholders

audit

Name the various characteristics of science

organized knowledge , cause and effect relationship , predictive power

Ethical concepts include:

Ethical subjectivism , Consequentialism , Ethics of Virtue


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________ behaviour is obtained when there is a one-way transmission of

orders from superior to subordinates.

Linear

,Flexible

________ decisions relate to the day to day operations of the enterprise

generally taken by middle and lower level management.

Operative

Whose feelings and difficulties should the manager know for direction to

become effective ?

Subordinates

Unity of command means that employees should receive orders from one

superior only.

True

State the barriers to delegation of authority?

Over-confidence

________means that private and foreign investors can participate in the Indian

Insurance Sector.

Liberalization

How many rules govern Indian and Foreign insurance companies?

12

To which environment is learning environment adaptive?

External

Events like trade fairs are handled by government authorities, for example the

biggest concourse under the sun, ________ is again handled by Allahabad

Municipal Corporation.

Kumbhmela

Who is the most effective person are alike in one crucial way, they all have a

high degree of emotional intelligence.

Leader


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The four A's of the service section are acceptability,________, affordability,

availability.

awareness

________ helps in adjusting to uncertainties in assessing work situations and

the effective delivery of services even under worst condition.Malleability

Samartha Ramdas contributed to the conception of administration and

management

True

All consumers in India are looking for price alone.

False

Actuary is one who specializes in the mathematics of insurance.True

Positive motivation makes people willing to do their work in the best way

they can and improve their ________.

performance

The negative type of motivators will include

Fear , Force , Reprimands

Today's business is rife with ambiquity and changes what is important for

competition.

Self regulation

An organization consists of individuals in which their formal roles and

structural positions bring them closer.

True

Retailing categories based on ownership arrangement would be

Super Markets , Consumer Durables Stores , Departmental Stores

The person who does not limit the interactions and decisions just to logicalapproach, but continuously encourages his team members to think non-

logically is

Leader

Focus on savings and high bargaining interests of the consumer is an obstacle

in retail development in India.


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True

Correct Answer

Never give up control and look up to consultants as God

Consultants are responsible for providing information to those individualswho fail to respond to changes in outside environment

Conduct diagnosis to redefine problem

Evolve abundant negotiating skills, be adaptable and flexible

The qualities that matter for International teamwork are,

Mutual respect , Sense of time , Team spirit

Which of the following is one of the weaknesses of MBO ?

Difficulty in setting goals

________ means draw prior conclusions about the probables of production,

sales, profits in the future, on the basis of research.

Forecasting

"When an insurance policy is sold, a promise is sold".

True

The retailing sector in India has been quite________.

staid and boring

Actuary is one who specializes in the ________ of insurance.

mathematics

Name the leading event management companies in India

Midas , Pinnacle , Wizcraft

Management is multidisciplinary, it includes knowledge from

Psychology , Economics , Maths

The potential external opportunities faced by an organization are

additional customer groups , faster market groups , falling trade barriers

Services are defined as the art and science of managing

the expectations of others , the experiences of people , the demands of the

customer

The tools and techniques used in learning organizations are


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creativity, brainstorming , observing outcomes , reframing knowledge

Good motivation lead to low morale. High morale is the manifestation of a

weak or defective motivating process.

False

Companies seeking to improve have taken a plethora of initiatives such as

TQM

Demand forecast is one of the popular forecasts.

True

Some of the isolated examples of management though where one should good

into ceaseless efforts are

Faith, courage, conviction

Management is always defined as dynamic, universal, ever-changing subject.

True

A budget as a plan of statement of expected results is expressed in numerical

terms.

True

Who said, Management is management of Men, Money, Machinery

Materials and Information?

Anonymous

What is it that can be described as a readiness to co-operate warmly in the

task and purposes of a given group organisation.

Morale

Correct Answer

transparent

board of directors

myth in India

corporate governance

India has been experiencing the unique stranglehold of our_____

traditional kirana stores

Emotional Quotient increases with age commonly known as

maturity


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The service sector has expanded because of the virtual stagnation of

the________sector.

agricultural

Span of management depends upon the ability of whom?

Employees

What would essentially shape the growth and future of any economy?

Adequate and quality corporate governance

Who said, Management is a multiple organ that manages a business,

manages a manager and manages workers and work?

Peter Drucker

Limitations of business planning is that it has been considered as time

consuming and ________ device.expensive

The family owned businesses like Tata and Birla, also face major fears like, - ,

Management as a discipline does not require any________of practice.

certificate

Financial institutions should maintain a close relationship to seek a seat on the

board.

False

Wrong medium of communication is a physical barrier.

False

One of the internal environment factors that influences management is

Place

Delegation and decentralization are closely related to each other.

True

It is said "Controlling can not take place in a vacuum", which means there can

be no controlling without previous

planning

Morale is the sum total of various physical qualities.

False


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Direction is a ________ function performed by all the managers at all levels of

the organisation.

managerial

Principles of effective delegation are:Train the subordinates , Reward delegation , Appropriate reporting system

________, weakness, threats, opportunities are the long form SWOT analysis.

strength

To be called an SBU, a business unit must meet specific criteria such as

having a definable group of competitors , having a mission similar to other

SBUs , preparing its own integrated plans

Correct AnswerManagement is management of people and not the direction of things

Management is management of men, money, machinery, materials and

information

Management is the creation and maintenance of internal environment in an

enterprise

Management is a multi-purpose organ that manages a business, manages

workers and work

________ are at a minimum where the morale is high.

Grievances

The heart of administration is the directing function.

True

Empathy is particularly important today as a component of leadership for the

following

rapid pace of globalisation , increasing use of teams , growing need to retain

talent

Name the flagship companies under the group of "Aditya Birla"

Hindalco , Indo-Gulf Fertilizers , Birla Corporation

Fredrick Winslow Taylor's Mechanism of scientific management includes,

Scientific task setting , Planning task setting , Standardization of tools

Future of Insurance sector would be


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new players taking over the market , improved customer service , strong hold

of nationalized players

To which practice is the term "corporate governance" given?

Management

A senior family member and trusted professional manager acts as what to the

business families scions trained abroad and then return to take over the

business.

mentor

Govt. services comprise________, defence and social goods.

public administration

Posture' and Observance' are not included under the 'yogic' exercises

False

Every manager in an organisation gives direction to his subordinates as a

superior and receives direction as subordinate from his superior.

True

Brands are associated with lifestyles and people's________.

aspirations

What are the common challenges faced by the retail business?

Special mindset to develop special strategies , Coping with the change

Fast food chains are not a corporatised service.

False

A study by a consultant at Kearney has projected that the organized retail

business in India would be worth________by 2005.

Rs.1,60,000 crore

The channels through which corporate governance may bear on performance

are activated through several structural and institutional factors as follows

legal, political and regulatory environment , financial structure of corporation, structure and functioning of co.

What is indispensable to accurate internal budgeting and to setting financial

and expansion policies.

Sales forecasting


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Necessity of control in business organisation arises due to number of factors,

one of which is ________ of organisations themselves.

complexity

Every company undertakes the process of forecasting by various competent

authorities which can be listed asCII , RBI , CMIE

just 2%

Revenue model is a challenge in the service sector.

True

Some tips for improving written communication would be

Avoid unnecessary words , Use simple words and phrases , Use short andfamiliar words

Service sector has grown because of________.

contracting

,

False

Correct Answer

Whistle blowing

Right or wrong depends on Ethical Principles

People who hold this principle find no difference between a whistle blower

and traitor

Ethical principle

Multiple Choice Multiple Response

Loyalty , Devotion

Audit is an effective tool of corporate governance and can act/enable

self-regulation

Organizing is defined in different ways, viz.

Process , Relationship , Corporate citizen

What type of control is most important for effective delegation?

Feedback


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Which of the options mentioned below would be categorized as a Franchisee

store?

Footwear stores

Disclosures must be made to the board by the management, relating to all

material and financial transactions

The directors should show________and commitment to their job.

interest

Foreign insurance companies can appoint majority directors on the company

board.

False

The term 'span of control' is also referred to as:

Span of management , Span of supervision , Span of authority

Communication is a two way process, it starts with

Communicator

W.Edward Deming introduced quality control in Japan.

True

Name the leading ad agencies in India that have a separate event section.

Vigennet , Ogilvy , Mathers

________acts are done willfully and not by chance.

Virtuous

What is proving that it is EQ more than IQ that underpins many of the best

decisions.

Science

The process of forecasting is based on

Future trends , Current analysis , Past performance

People with high EQ understand people's which factor ?

Expectations

Valency is the extent to which the outcome of the activity and its success

matters to the individual . (Level of motivation = Valency x Expectancy)

True


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It is said that 'Delegation is the key to control' and

information is guide to control

Research indicates that the limbic system learns best through

motivation , extended practice , feedback

________ provide all types of help required to make the business more

efficient and profitable.

Consultants

Planning and control are closely interrelated and they do not determine the

accuracy of decision-making.

False

Select the essentials of the policy formulation of the following.

positive , definite , clear

What does an SBU do to unrelated products and businesses?

It separates them

Every person has different ways and means of performing art, similarly, every

individual has different styles of management and these are categorized as

Democratic , Autocratic , Beaurocratic

Planning is mainly concerned with looking ahead in the future, what is it that

provides the necessary raw material for correct planning ?

Forecasting

Poverty is an asset of the insurance sector.

False

Service sector in India dominates half of our national income.

True

Standard Batteries is a flagship company of the Thapar Group.

False

Learning from mistakes is often more powerful than learning from success.

True

________ is the reason for the rising importance of empathy for business

leaders.

Globalisation


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"The structure of consumer demand in India is like an iceberg". What is the

rationale behind this statement?

we see only parts of ready potential on the surface

Under the kinds of motivation, employees are different individually yet, theyall want the following things from the job.

Job security , Congenial associates , Fair wages

Management is

Creative

Which is the second factor of the 7S model?

Structure

Planning depends on authenticity and ________ of information.Reliability

the whole system of management and can be related to other managerial

True

Management is the combination of Arts, Science and

Profession

The summary of important trends in retailing is

non store retailing , global players vs local players , efficiency and focus

It is said that waking and dream world are both illusions, according to

vedanta world as ________.

Maya Mithya

Correct Answer

Has no centralized rule-making authority

That manages a business

Management is what management does

Art requires knowledgeOver a period of time

One of the external environment factors that influences Management is

Legal

Name the flagship companies under the Business family "Munjals"


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Hero Honda , Hero Cycles

The Indian consumer was shying away from larger formal stores and

supermarket chains because of low/lack of________.

per capita income

What is the set-up of an organization?

Relationships

________ learning requires skills for sharing information and knowledge,

particularly implicit knowledge, assumptions and benefits that are

traditionally beneath the surface.

Collective

Select the guidelines for effective decision making.

Adopt a diagnostic approach to decision making , Involve subordinates indecision making process , Evaluate the results

The lack of communication leads to

information gap , disintegration , deviation from performance

________ is the element of effective control where benefits derived should be

more than the cost incurred from the control system

Economic

Development of collective as well as individ

Principles and Practices of Management Consolidated

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