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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